<SEC-DOCUMENT>0001193125-19-038265.txt : 20190213
<SEC-HEADER>0001193125-19-038265.hdr.sgml : 20190213
<ACCEPTANCE-DATETIME>20190213172418
ACCESSION NUMBER:		0001193125-19-038265
CONFORMED SUBMISSION TYPE:	40-F
PUBLIC DOCUMENT COUNT:		220
CONFORMED PERIOD OF REPORT:	20181231
FILED AS OF DATE:		20190213
DATE AS OF CHANGE:		20190213

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MANULIFE FINANCIAL CORP
		CENTRAL INDEX KEY:			0001086888
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				889897526
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14942
		FILM NUMBER:		19598789

	BUSINESS ADDRESS:	
		STREET 1:		200 BLOOR ST EAST, NT-10
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4W1E5
		BUSINESS PHONE:		416-926-3000

	MAIL ADDRESS:	
		STREET 1:		200 BLOOR ST EAST, NT-10
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4W1E5
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-F
<SEQUENCE>1
<FILENAME>d661375d40f.htm
<DESCRIPTION>40-F
<TEXT>
<HTML><HEAD>
<TITLE>40-F</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">40-F</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>(Check One) </B></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>REGISTRATION STATEMENT PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934
</B></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OR </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9746;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>ANNUAL REPORT PURSUANT TO SECTION 13(a) OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
</B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="51%"></TD>
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<TD WIDTH="47%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center"><B>For the fiscal year ended December&nbsp;31, 2018</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>Commission file number <FONT STYLE="white-space:nowrap">1-14942</FONT></B></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>MANULIFE FINANCIAL CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of Registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Canada
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(Province or other jurisdiction of incorporation or organization) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>6311 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(Primary Standard
Industrial Classification Code Number (if applicable)) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not applicable </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(I.R.S. Employer Identification Number (if applicable)) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>200 Bloor Street East, NT 11, Toronto, Ontario, Canada M4W 1E5 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(416) <FONT STYLE="white-space:nowrap">926-3000</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(Address and telephone number of registrant&#146;s principal executive offices) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>James D. Gallagher, Manulife Financial Corporation, 601 Congress Street, Boston, MA 02210-2805 (617)
<FONT STYLE="white-space:nowrap">663-3000</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(Name, address (including zip code) and telephone number </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(including area code) of agent for service in the United States) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Securities registered or to be registered pursuant to Section&nbsp;12(b) of the Act. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center">Title of each class</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Name of each exchange on which registered</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Common Shares</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>New York Stock Exchange</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Securities registered or to be registered pursuant to Section&nbsp;12(g) of the Act. <B>None</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B></B>Securities for which there is a reporting obligation pursuant to Section&nbsp;15(d) of the Act.<B>&nbsp;&nbsp;4.90% Senior Notes due
2020, 4.150% Senior Notes due 2026, 5.375% Senior Notes due 2046, and 4.061% Subordinated Notes due 2032 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">For annual reports, indicate
by check mark the information filed with this Form: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B></B>&#9746;<B></B><B> Annual Information Form</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B></B>&#9746;<B></B><B> Audited Annual Financial Statements</B></TD></TR>
</TABLE> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate the number of outstanding shares of each of the issuer&#146;s classes of capital or common stock as of the close of the period covered by the annual
report: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Common Shares</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,971,002,948</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;A Shares Series 2</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>14,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;A Shares Series 3</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>12,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 3</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6,335,831</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 4</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,664,169</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 5</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 7</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 9</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 11</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 13</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 15</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 17</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>14,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 19</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 21</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>17,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 23</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;1 Shares Series 25</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10,000,000</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the Registrant: (1)&nbsp;has filed all reports required to be filed by
Section&nbsp;13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2)&nbsp;has been subject to such filing requirements for the past 90 days. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Yes</B>&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to
Rule 405 of Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Yes</B>&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule <FONT STYLE="white-space:nowrap">12b-2</FONT>
of the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Emerging Growth Company&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards&#134; provided pursuant to Section&nbsp;13(a) of the Exchange Act.&nbsp;&nbsp;&#9744; </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#134;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The term &#147;new or revised financial accounting standard&#148; refers to any update issued by the Financial
Accounting Standards Board to its Accounting Standards Codification after April&nbsp;5, 2012. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40-F 2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Principal Documents </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following documents, filed as exhibits 99.1, 99.2 and 99.3 hereto, are hereby incorporated by reference into this Annual Report: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Consolidated Financial Statements for the fiscal year ended December&nbsp;31, 2018; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Management&#146;s Discussion and Analysis for the fiscal year ended December&nbsp;31, 2018; and
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Annual Information Form dated February&nbsp;13, 2019 for the fiscal year ended December&nbsp;31, 2018.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40-F 3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Certifications and Disclosure Regarding Controls and Procedures. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Certifications</U>. The Certificates required by Rule <FONT STYLE="white-space:nowrap">13a-14(a)</FONT> and (b)&nbsp;are set
forth in Exhibits 99.4, 99.5, 99.6 and 99.7 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosure Controls and Procedures</U>. The conclusions of the principal executive and principal financial officers of Manulife
Financial Corporation (the &#147;Company&#148;) regarding the effectiveness of the Company&#146;s disclosure controls and procedures as at December&nbsp;31, 2018 are set forth under the heading &#147;Controls and Procedures &#150; Disclosure
Controls and Procedures&#148; in the Company&#146;s Management&#146;s Discussion and Analysis for the fiscal year ended December&nbsp;31, 2018, filed as Exhibit 99.2 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Management&#146;s Annual Report on Internal Control over Financial Reporting</U>. Management&#146;s report on the Company&#146;s
internal control over financial reporting is set forth under the heading &#147;Controls and Procedures &#150; Management&#146;s Report on Internal Control over Financial Reporting&#148; in the Company&#146;s Management&#146;s Discussion and Analysis
for the fiscal year ended December&nbsp;31, 2018, filed as Exhibit 99.2 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Attestation Report of the Registered Public Accounting Firm</U>. Ernst&nbsp;&amp; Young LLP&#146;s attestation report on
management&#146;s assessment of internal control over financial reporting is set forth under the heading &#147;Report of Independent Registered Public Accounting Firm to the Shareholders and Board of Directors on Internal Control Over Financial
Reporting&#148; in the Company&#146;s Consolidated Financial Statements for the fiscal year ended December&nbsp;31, 2018, filed as Exhibit 99.1 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Changes in Internal Control over Financial Reporting</U>. Information regarding any changes in the Company&#146;s internal
control over financial reporting is set forth under the heading &#147;Controls and Procedures &#150; Changes in Internal Control over Financial Reporting&#148; in the Company&#146;s Management&#146;s Discussion and Analysis for the fiscal year ended
December&nbsp;31, 2018, filed as Exhibit 99.2 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Audit Committee Financial
Expert. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding audit committee financial experts is set forth under the heading &#147;Audit Committee&#148; in the Company&#146;s
Annual Information Form (&#147;AIF&#148;) dated February&nbsp;13, 2019 for the fiscal year ended December&nbsp;31, 2018, filed as Exhibit 99.3 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40-F 4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Code of Business Conduct and Ethics. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company has adopted a Code of Business Conduct and Ethics (&#147;Code&#148;) that applies to all directors, officers and employees of the Company and that
qualifies as a &#147;code of ethics&#148; as that term is defined in Form <FONT STYLE="white-space:nowrap">40-F.</FONT> The Code is posted on the corporate governance section of our website and is available for viewing at:
<U>https://www.manulife.com/content/dam/corporate/global/en/documents/corporate-governance/codeofbusinessconductandethics1.pdf</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In 2018, the Company
made certain amendments to its Code to clarify several matters, including that all Ethics Hotline Reports are presumed to be made in good faith; that nothing in the Code should be construed as prohibiting communication with any regulator, either
voluntarily or in response to a regulatory inquiry; that employees must report discrimination, harassment or violence experienced or observed in the workplace; and to express Manulife&#146;s commitment to doing its part to help eradicate human
trafficking and its expectation that our business partners will adhere to ethical business conduct consistent with the Company&#146;s own. A provision relating to freedom of association was also added to the Code. There were no waivers, including
implied waivers, from any provision of the Code during 2018. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Principal Accountant Fees and Services. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding the fees billed by Ernst&nbsp;&amp; Young LLP is set forth under the heading &#147;Audit Committee &#150; External Auditor Service
Fees&#148; in the Company&#146;s AIF dated February&nbsp;13, 2019 for the fiscal year ended December&nbsp;31, 2018, filed as Exhibit 99.3 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><FONT STYLE="white-space:nowrap">Pre-Approval</FONT> Policies and Procedures. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding the <FONT STYLE="white-space:nowrap">pre-approval</FONT> policies and procedures of the Company&#146;s audit committee is set forth under
the heading &#147;Audit Committee &#150; <FONT STYLE="white-space:nowrap">Pre-Approval</FONT> Policies and Procedures&#148; in the Company&#146;s AIF dated February&nbsp;13, 2019 for the fiscal year ended December&nbsp;31, 2018, filed as Exhibit
99.3 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Hours Expended on Audit Attributed to Persons Other than the
Principal Accountant&#146;s Employees. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not Applicable. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><FONT STYLE="white-space:nowrap">Off-Balance</FONT> Sheet Arrangements. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding the Company&#146;s <FONT STYLE="white-space:nowrap">off-balance</FONT> sheet arrangements is set forth in the discussion of risk in the
Company&#146;s Management&#146;s Discussion and Analysis for the fiscal year ended December&nbsp;31, 2018, filed as Exhibit 99.2 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> The notes to the Consolidated Financial
Statements for the fiscal year ended December&nbsp;31, 2018, filed as Exhibit 99.1 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F</FONT> include the following disclosures related to
<FONT STYLE="white-space:nowrap">off-balance</FONT> sheet arrangements: </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="89%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Note 4</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Derivative and Hedging Instruments</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Note 9</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Risk Management - Securities Lending, Repurchase and Reverse Repurchase
Transactions</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Note 17</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interests in Structured Entities</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Note 18</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Commitments and Contingencies</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40-F 5 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tabular Disclosure of Contractual Obligations. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding the Company&#146;s contractual obligations is set forth under the heading &#147;Contractual Obligations&#148; in the Company&#146;s
Management&#146;s Discussion and Analysis for the fiscal year ended December&nbsp;31, 2018, filed as Exhibit 99.2 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Identification of the Audit Committee. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information
regarding the Audit Committee of the Company&#146;s Board of Directors is set forth under the heading &#147;Audit Committee &#150; Composition of the Audit Committee&#148; in the Company&#146;s AIF dated February&nbsp;13, 2019 for the fiscal year
ended December&nbsp;31, 2018, filed as Exhibit 99.3 to this Annual Report on Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Independence of
Directors. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A majority of the directors and all members of the Board&#146;s standing committees must be independent so that the Board operates
independently of management. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A director is independent if he or she does not have a direct or indirect relationship with the Company that could
reasonably be expected to interfere with the director&#146;s ability to exercise independent judgment. The Company has established an independence policy for the Board which is consistent with applicable legal and regulatory requirements, including
those established under Canadian and U.S. securities law, the <I>Insurance Companies Act (Canada) </I>and the rules of the New York Stock Exchange. The independence policy is available on our website (<U>www.manulife.com</U>). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each year the Board, with the assistance of the Corporate Governance and Nominating Committee, reviews the independence of each director and has determined
that 13 of the 14 directors are independent and that the members of the Audit Committee and the Management Resources and Compensation Committee meet the additional independence requirements for those committees. As CEO, Roy Gori is not independent.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Presiding Director at Meetings of <FONT STYLE="white-space:nowrap">Non-Management</FONT> Directors. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The independent directors meet regularly with senior executives and have an opportunity to meet privately without management present during closed sessions
held at each Board and committee meeting. They may also use these sessions to meet privately with members of management or independent advisors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In
addition, the independent directors meet without the CEO present to review the performance and approve the compensation of the CEO, to review the Board&#146;s effectiveness assessments and to approve the Board&#146;s objectives for the following
year. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Communication with <FONT STYLE="white-space:nowrap">Non-Management</FONT> Directors. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shareholders wishing to contact <FONT STYLE="white-space:nowrap">non-management</FONT> Directors of the Company may write to the Chairman of the Board, in care
of the Corporate Secretary, at the head office of the Company, 200 Bloor Street East, Toronto, Ontario, Canada, M4W 1E5. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40-F 6 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Corporate Governance Guidelines. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company&#146;s governance practices are consistent in all material respects with the requirements of the <I>Insurance Companies Act </I>(Canada), the
corporate governance guidelines established by the Office of the Superintendent of Financial Institutions (Canada) and by the Canadian Securities Administrators, the New York Stock Exchange corporate governance rules for domestic issuers and the
applicable U.S. Securities and Exchange Commission rules and regulations. The Company&#146;s statement of corporate governance practices is posted on the corporate governance section of our website and is available at:
<U>http://manulife.force.com/servlet/servlet.FileDownload?file=00P50000010BL5nEAG&amp;ver=10</U> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Board Committee Charters. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board has established four standing committees to assist it in fulfilling its mandate: Corporate Governance and Nominating Committee, Audit Committee, Risk
Committee, and Management Resources and Compensation Committee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All of the members of the standing committees are independent. Each committee reviews
and, as necessary, updates its charter every year and monitors compliance with its charter on a regular basis throughout the year. Each committee chair reports to the Board on the committee&#146;s deliberations and any recommendations that require
Board approval. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The committee charters and the position description for each committee chair are posted on the corporate governance section of our
website and are available at: <U>https://www.manulife.com/en/about/corporate-governance/board-committees.html</U><U></U> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Mine Safety Disclosure.
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40-F 7 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>UNDERTAKING AND CONSENT TO SERVICE OF PROCESS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Undertaking. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Registrant undertakes to make available, in person or by telephone, representatives to respond to inquiries made by the Commission staff, and
to furnish promptly, when requested to do so by the Commission staff, information relating to: the securities registered pursuant to Form <FONT STYLE="white-space:nowrap">40-F;</FONT> the securities in relation to which the obligation to file an
Annual Report on Form <FONT STYLE="white-space:nowrap">40-F</FONT> arises; or transactions in said securities. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>B.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Consent to Service of Process. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has previously filed a Form <FONT STYLE="white-space:nowrap">F-X</FONT> in connection with the class of securities in relation to
which the obligation to file this Annual Report arises. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any change to the name or address of the Registrant&#146;s agent for service of
process shall be communicated promptly to the Securities and Exchange Commission by an amendment to the Form <FONT STYLE="white-space:nowrap">F-X</FONT> referencing the file number of the relevant registration statement of the Registrant. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to
the requirements of the Exchange Act, the Registrant certifies that it meets all of the requirements for filing on Form <FONT STYLE="white-space:nowrap">40-F</FONT> and has duly caused this Annual Report to be signed on its behalf by the
undersigned, thereto duly authorized, on February&nbsp;13, 2019. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>Manulife Financial Corporation</B></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><I>/s/ James D. Gallagher</I></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">James D. Gallagher</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">General Counsel</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40-F 8 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center">Exhibit</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; ">Description</P></TD></TR>


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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Consolidated Financial Statements for the fiscal year ended December&nbsp;31, 2018</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Management&#146;s Discussion and Analysis for the fiscal year ended December&nbsp;31, 2018</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>99.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Annual Information Form dated February&nbsp;13, 2019 for the fiscal year ended December&nbsp;31, 2018</TD></TR>
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<TD VALIGN="top" NOWRAP>99.4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Certification of Chief Executive Officer pursuant to Rule <FONT STYLE="white-space:nowrap">13a-14(a)</FONT> or <FONT STYLE="white-space:nowrap">15d-14(a)</FONT> of the Securities Exchange Act of 1934</TD></TR>
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<TD VALIGN="top" NOWRAP>99.5</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Certification of Chief Financial Officer pursuant to Rule <FONT STYLE="white-space:nowrap">13a-14(a)</FONT> or <FONT STYLE="white-space:nowrap">15d-14(a)</FONT> of the Securities Exchange Act of 1934</TD></TR>
<TR STYLE="font-size:1pt">
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>99.6</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Section&nbsp;1350 Certification of Chief Executive Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>99.7</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Section&nbsp;1350 Certification of Chief Financial Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>99.8</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Consent of Independent Registered Public Accounting Firm</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>99.9</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Consent of Appointed Actuary</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>101</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Interactive Data File</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">mfc-20181231.xml</FONT></TD></TR>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">mfc-20181231.xsd</FONT></TD></TR>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">mfc-20181231_cal.xml</FONT></TD></TR>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">mfc-20181231_def.xml</FONT></TD></TR>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">mfc-20181231_lab.xml</FONT></TD></TR>
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<TD VALIGN="top"><FONT STYLE="white-space:nowrap">mfc-20181231_pre.xml</FONT></TD></TR>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:72pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:72pt; margin-bottom:0pt; font-size:24pt; font-family:ARIAL"><FONT COLOR="#1f320c">Manulife Financial Corporation </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:ARIAL"><FONT COLOR="#1f320c">Consolidated Financial Statements </FONT></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:16pt; font-family:ARIAL"><FONT
 COLOR="#1f320c">For the year ended December&nbsp;31, 2018 </FONT></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Responsibility for Financial Reporting </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The accompanying consolidated financial statements of Manulife Financial Corporation are the responsibility of management and have been approved by the Board of
Directors. It is also the responsibility of management to ensure that all information in the annual report to shareholders is consistent with these consolidated financial statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The consolidated financial statements have been prepared by management in accordance with International Financial Reporting Standards and the accounting requirements of
the Office of the Superintendent of Financial Institutions, Canada. When alternative accounting methods exist, or when estimates and judgment are required, management has selected those amounts that present the Company&#146;s financial position and
results of operations in a manner most appropriate to the circumstances. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Appropriate systems of internal control, policies and procedures have been maintained to
ensure that financial information is both relevant and reliable. The systems of internal control are assessed on an ongoing basis by management and the Company&#146;s internal audit department. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The actuary appointed by the Board of Directors (the &#147;Appointed Actuary&#148;) is responsible for ensuring that assumptions and methods used in the determination of
policy liabilities are appropriate to the circumstances and that reserves will be adequate to meet the Company&#146;s future obligations under insurance and annuity contracts. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Board of Directors is responsible for ensuring that management fulfills its responsibility for financial reporting and is ultimately responsible for reviewing and
approving the consolidated financial statements. These responsibilities are carried out primarily through an Audit Committee of unrelated and independent directors appointed by the Board of Directors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Audit Committee meets periodically with management, the internal auditors, the external auditors and the Appointed Actuary to discuss internal control over the
financial reporting process, auditing matters and financial reporting issues. The Audit Committee reviews the consolidated financial statements prepared by management and then recommends them to the Board of Directors for approval. The Audit
Committee also recommends to the Board of Directors and shareholders the appointment of external auditors and approval of their fees. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The consolidated financial
statements have been audited by the Company&#146;s external auditors, Ernst&nbsp;&amp; Young LLP, in accordance with the standards of the Public Company Accounting Oversight Board (United&nbsp;States). Ernst&nbsp;&amp; Young LLP has full and free
access to management and the Audit Committee. </P> <P STYLE="font-size:30pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:ARIAL">Roy Gori</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:ARIAL">President and Chief Executive Officer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Philip Witherington</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:ARIAL">Chief Financial Officer</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Toronto, Canada </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">February&nbsp;13, 2019 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Appointed Actuary&#146;s Report to the Shareholders </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">I have valued the policy liabilities and reinsurance recoverables of Manulife Financial Corporation for its Consolidated Statements of Financial Position as at
December&nbsp;31, 2018 and 2017 and their change in the Consolidated Statements of Income for the years then ended in accordance with actuarial practice generally accepted in Canada, including selection of appropriate assumptions and methods. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In my opinion, the amount of policy liabilities net of reinsurance recoverables makes appropriate provision for all policyholder obligations and the consolidated
financial statements fairly present the results of the valuation. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:0pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Steven Finch </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Appointed Actuary </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Toronto, Canada </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">February&nbsp;13, 2019 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>96</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Report of Independent Registered Public Accounting Firm </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>To the Shareholders and Board of Directors of Manulife Financial Corporation </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Opinion on the Consolidated Financial Statements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have audited the accompanying Consolidated Statements of Financial Position of Manulife Financial Corporation (the &#147;Company&#148;) as of December&nbsp;31, 2018
and 2017, the related Consolidated Statements of Income, Consolidated Statements of Comprehensive Income, Consolidated Statements of Changes in Equity and Consolidated Statements of Cash Flows for the years then ended, and the related notes
(collectively referred to as the &#147;consolidated financial statements&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In our opinion, the consolidated financial statements present fairly, in all
material respects, the financial position of the Company at December&nbsp;31, 2018 and 2017, and its financial performance and its cash flows for the years then ended in accordance with International Financial Reporting Standards as issued by the
International Accounting Standards Board. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Report on Internal Control over Financial Reporting </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (&#147;PCAOB&#148;), the Company&#146;s internal
control over financial reporting as of December&nbsp;31, 2018, based on criteria established in Internal Control &#150; Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) and our
report dated February&nbsp;13, 2019 expressed an unqualified opinion thereon. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Basis for Opinion </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">These financial statements are the responsibility of the Company&#146;s management. Our responsibility is to express an opinion on the Company&#146;s financial statements
based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the
Securities and Exchange Commission and the PCAOB. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the
financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits
also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g661383g28f36.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Chartered Professional Accountants </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Licensed Public
Accounts </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have served as Manulife Financial Corporation&#146;s auditors since 1905. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Toronto, Canada </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">February&nbsp;13, 2019 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Consolidated&nbsp;Financial&nbsp;Statements</I> &nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>99</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Report of Independent Registered Public Accounting Firm </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>To the Shareholders and Board of Directors of&nbsp;Manulife Financial Corporation </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Opinion on Internal Control over Financial Reporting </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have audited&nbsp;Manulife Financial Corporation&#146;s&nbsp;internal control over financial reporting as of&nbsp;December 31, 2018, based on criteria established in
Internal Control &#150; Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the &#147;COSO criteria&#148;).&nbsp;In our opinion,&nbsp;Manulife Financial Corporation (the
&#147;Company&#148;)&nbsp;maintained, in all material respects, effective internal control over financial reporting as of&nbsp;December 31, 2018, based on the COSO criteria. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (&#147;PCAOB&#148;), the&nbsp;Consolidated
Statements of Financial Position of the Company as of December&nbsp;31, 2018 and 2017, and the related Consolidated Statements of Income, Consolidated Statements of Comprehensive Income, Consolidated Statements of Changes in Equity and Consolidated
Statements of Cash Flows for the years then ended, and the related notes&nbsp;and our report dated&nbsp;February 13, 2019, expressed&nbsp;an unqualified opinion thereon.</P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Basis for Opinion </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s
management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting included in Management&#146;s Report on Internal Control Over
Financial Reporting contained in the Management&#146;s Discussion and Analysis. Our responsibility is to express an opinion on the Company&#146;s internal control over financial reporting based on our audit. We are a public accounting firm
registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether effective internal control over financial reporting was maintained in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our audit included obtaining an understanding of internal
control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered
necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Definition and Limitations of
Internal Control over Financial Reporting </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A company&#146;s internal control over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board. A
company&#146;s internal control over financial reporting includes those policies and procedures that (1)&nbsp;pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the
assets of the company; (2)&nbsp;provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with International Financial Reporting Standards as issued by the International
Accounting Standards Board, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3)&nbsp;provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use, or disposition of the company&#146;s assets that could have a material effect on the financial statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Because of its
inherent limitations, internal control over financial reporting may not prevent or detect misstatements.&nbsp;Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because
of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. </P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g661383g28f36.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Chartered Professional Accountants </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Licensed Public
Accountants </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Toronto, Canada </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">February&nbsp;13, 2019 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>100</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidated Statements of Financial Position </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">(Canadian $ in millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash and short-term securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,215</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15,965</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>185,594</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">174,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,179</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48,363</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35,754</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policy loans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,446</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,808</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loans to bank clients</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,793</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,737</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12,777</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,810</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>27,543</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">24,483</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total invested assets (note 3)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>353,664</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">334,222</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Other assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Accrued investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,427</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Outstanding premiums</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,369</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,148</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivatives (note 4)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,703</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,569</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reinsurance assets (notes 7 and 8)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>43,053</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30,359</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Deferred tax assets (note 5)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,318</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,569</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Goodwill and intangible assets (note 6)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,097</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,840</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Miscellaneous</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>8,431</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">7,337</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total other assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>83,398</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">71,004</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Segregated funds net assets (note 22)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;750,271</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;729,533</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Liabilities and Equity</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Insurance contract liabilities (note 7)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>328,654</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">304,605</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment contract liabilities (note 8)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,265</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Deposits from bank clients</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,684</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,131</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivatives (note 4)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,803</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,822</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Deferred tax liabilities (note 5)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,814</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,281</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>15,190</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">14,927</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>376,410</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">349,892</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Long-term debt (note 10)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,769</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,784</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Capital instruments (note 11)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,732</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,387</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Segregated funds net liabilities (note 22)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>703,120</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">687,370</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Equity</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Preferred shares (note 12)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,822</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,577</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Common shares (note 12)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>22,961</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,989</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Contributed surplus</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>265</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">277</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Shareholders&#146; retained earnings</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12,704</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,083</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Shareholders&#146; accumulated other comprehensive income (loss):</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Pension and other post-employment plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(426</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(364</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Available-for-sale</FONT></FONT>
securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(265</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">179</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Cash flow hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(127</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(109</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Real estate revaluation surplus</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>20</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Translation of foreign operations </P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7,010</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,360</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total shareholders&#146; equity</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>45,964</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41,013</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Participating policyholders&#146; equity</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>94</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">221</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT>
interests</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,093</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">929</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total equity</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>47,151</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">42,163</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total liabilities and equity</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>750,271</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">729,533</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">The accompanying notes are an integral part of these Consolidated Financial Statements. </P>
<P STYLE="font-size:36pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


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<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="46%"></TD></TR>

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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Roy Gori</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">President and Chief Executive Officer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">John Cassaday</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">Chairman of the Board of Directors</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Consolidated&nbsp;Financial&nbsp;Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>101</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidated Statements of Income </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">(Canadian $ in millions except per share amounts)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Premium income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gross premiums</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>39,150</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;36,361</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Premiums ceded to reinsurers</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(15,138</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(8,151</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net premiums</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>24,012</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">28,210</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income (note 3)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,560</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,649</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Realized and unrealized gains (losses) on assets supporting insurance
and investment contract liabilities and on the macro hedge program</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9,028</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,718</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,532</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">19,367</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue (note 14)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,428</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,746</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>38,972</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">58,323</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Contract benefits and expenses</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">To contract holders and beneficiaries</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gross claims and benefits (note 7)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>27,878</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24,994</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Increase (decrease) in insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,907</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,023</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Increase (decrease) in investment contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">173</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Benefits and expenses ceded to reinsurers</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(5,153</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8,158</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Decrease (increase) in reinsurance assets (note 7)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9,733</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,269</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net benefits and claims</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,934</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39,301</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">General expenses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,957</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,233</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment expenses (note 3)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,708</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,673</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Commissions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,173</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,116</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest expense</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,275</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net premium taxes</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>406</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">360</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total contract benefits and expenses</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>33,453</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">55,822</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income before income taxes</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,519</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,501</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income tax expense (note 5)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(632</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(239</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,887</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,262</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss) attributed to:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>214</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">194</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Participating policyholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(127</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Shareholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,887</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,262</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income attributed to shareholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,800</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Preferred share dividends</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(168</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(159</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Common shareholders&#146; net income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,632</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,945</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Earnings per share</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Basic earnings per common share (note 12)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2.34</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Diluted earnings per common share (note 12)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2.33</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Dividends per common share</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.91</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">0.82</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">The accompanying notes are an integral part of these Consolidated Financial Statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>102</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidated Statements of Comprehensive Income </B></FONT></P>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">(Canadian $ in millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;4,887</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;2,262</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Other comprehensive income (loss) (&#147;OCI&#148;), net of tax:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
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<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Items that may be subsequently reclassified to net income:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign exchange gains (losses) on:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Translation of foreign operations</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,078</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,256</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Net investment hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(428</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">227</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Available-for-sale</FONT></FONT> financial
securities:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Unrealized gains (losses) arising during the year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(458</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">601</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Reclassification of net realized (gains) losses and impairments to net income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(32</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash flow hedges:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Unrealized gains (losses) arising during the year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(34</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Reclassification of realized losses to net income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Share of other comprehensive income (losses) of associates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total items that may be subsequently reclassified to net
income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,186</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,336</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Items that will not be reclassified to net income:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Change in pension and other post-employment plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(62</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Real estate revaluation reserve</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total items that will not be reclassified to net
income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(63</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Other comprehensive income (loss), net of tax</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,123</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,253</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total comprehensive income (loss), net of tax</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7,010</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,009</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total comprehensive income (loss) attributed to:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>212</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">192</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Participating policyholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(127</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Shareholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,925</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">844</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" COLSPAN="16"> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Income Taxes included in Other
Comprehensive Income</B></FONT></P> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt"></P> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>&nbsp;</B></FONT></P>
<P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:1pt"></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">(Canadian $ in millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income tax expense (recovery) on:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Unrealized foreign exchange gains/losses on translation of foreign operations</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Unrealized foreign exchange gains/losses on net investment hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(62</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Unrealized gains/losses on
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">available-for-sale</FONT></FONT> financial securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(151</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">284</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reclassification of realized gains/losses and recoveries/impairments to net income on <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">available-for-sale</FONT></FONT> financial securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>26</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Unrealized gains/losses on cash flow hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reclassification of realized gains/losses to net income on cash flow hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in pension and other post-employment plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate revaluation reserve</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total income tax expense (recovery)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;(146</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">436</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">The accompanying notes are an integral part of these Consolidated Financial Statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Consolidated&nbsp;Financial&nbsp;Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>103</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<p Style='page-break-before:always'>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidated Statements of Changes in Equity </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">(Canadian $ in millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Preferred shares</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,577</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,577</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issued (note 12)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issuance costs, net of tax</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(5</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,822</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,577</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Common shares</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>22,989</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,865</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Repurchased (note 12)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(269</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issued on exercise of stock options</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>59</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issued under dividend reinvestment and share purchase plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>182</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>22,961</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">22,989</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Contributed surplus</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>277</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">284</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Exercise of stock options and deferred share units</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(22</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Stock option expense</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Acquisition of
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interest</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(12</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>265</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">277</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Shareholders&#146; retained earnings</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,083</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,759</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income attributed to shareholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,800</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Common shares repurchased (note 12)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(209</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Preferred share dividends</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(168</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(159</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Common share dividends</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,802</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,621</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>12,704</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,083</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Shareholders&#146; accumulated other comprehensive income (loss) (&#147;AOCI&#148;)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,087</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,347</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in unrealized foreign exchange gains (losses) of net foreign operations</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,650</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,029</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in actuarial gains (losses) on pension and other post-employment plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(62</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in unrealized gains (losses) on
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">available-for-sale</FONT></FONT> financial securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(443</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">572</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in unrealized gains (losses) on derivative instruments designated as cash flow hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">123</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in real estate revaluation reserve</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Share of other comprehensive income (losses) of associates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,212</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,087</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total shareholders&#146; equity, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>45,964</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">41,013</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Participating policyholders&#146; equity</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>221</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">248</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income (loss) attributed to participating policyholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(127</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other comprehensive income attributed to policyholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>94</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">221</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>929</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">743</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income attributed to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>214</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">194</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other comprehensive income (loss) attributed to <FONT STYLE="white-space:nowrap">non-controlling</FONT>
interests</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Contributions (distributions), net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(48</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,093</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">929</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total equity, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;47,151</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;42,163</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">The accompanying notes are an integral part of these Consolidated Financial Statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>104</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidated Statements of Cash Flows </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">(Canadian $ in millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Operating activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,887</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,262</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjustments:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Increase in insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,907</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,023</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Increase in investment contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">173</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">(Increase) decrease in reinsurance assets excluding coinsurance transactions (note 7)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>893</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,269</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Amortization of (premium) discount on invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>212</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">230</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other amortization</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>747</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">560</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Net realized and unrealized (gains) losses and impairment on assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,727</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7,188</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Deferred income tax expense (recovery)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>930</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(331</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Restructuring charge</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>156</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Stock option expense</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash provided by operating activities before undernoted items</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,504</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,013</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in policy related and operating receivables and
payables</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(316</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(222</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash provided by (used in) operating activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>19,188</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">17,791</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Investing activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Purchases and mortgage advances</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(101,172</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(87,224</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Disposals and repayments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>82,111</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70,720</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in investment broker net receivables and payables</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(128</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">227</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net cash decrease from sale and purchase of subsidiaries and
businesses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>187</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash provided by (used in) investing activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(19,002</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(16,287</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Financing activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Increase (decrease) in repurchase agreements and securities sold but not yet purchased</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(189</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Redemption of long-term debt (note 10)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(400</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(607</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issue of capital instruments, net (note 11)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>597</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,209</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Redemption of capital instruments (note 11)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(450</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(899</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Secured borrowing from securitization transactions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">741</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in deposits from Bank clients, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,490</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">261</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Shareholders&#146; dividends paid in cash</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,788</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,780</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Contributions from (distributions to) <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests,
net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(60</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Common shares repurchased (note 12)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(478</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Common shares issued, net (note 12)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>59</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Preferred shares issued, net (note 12)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>245</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash provided by (used in) financing activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(724</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash and short-term securities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Increase (decrease) during the year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(538</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,518</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Effect of foreign exchange rate changes on cash and short-term securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>822</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(658</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>15,098</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">14,238</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>15,382</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">15,098</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash and short-term securities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross cash and short-term securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,965</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,151</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net payments in transit, included in other liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(867</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(913</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net cash and short-term securities, January&nbsp;1</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>15,098</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">14,238</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>End of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross cash and short-term securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,215</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,965</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net payments in transit, included in other liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(833</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(867</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net cash and short-term securities, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>15,382</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">15,098</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Supplemental disclosures on cash flow information</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest received</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,952</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">10,596</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest paid</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,212</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,118</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income taxes paid</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>461</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,360</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">The accompanying notes are an integral part of these Consolidated Financial Statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Consolidated&nbsp;Financial&nbsp;Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>105</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:120pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:100pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:68pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>106</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="index"></A><A NAME="ex99_1327881_2"></A>N<A NAME="ex99_1327881_600"></A>otes to
Consolidated Financial Statements </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Page&nbsp;Number</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Note</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">108</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_1">Nature of Operations and Significant Accounting Policies</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">115</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_2">Accounting and Reporting Changes</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">118</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;3</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_3">Invested Assets and Investment Income</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">126</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;4</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_4">Derivative and Hedging Instruments</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">132</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;5</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_5">Income Taxes</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">134</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;6</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_6">Goodwill and Intangible Assets</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">136</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;7</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_7">Insurance Contract Liabilities and Reinsurance Assets</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">145</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;8</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_8">Investment Contract Liabilities</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">146</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;9</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_9">Risk Management</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">152</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_10">Long-Term Debt</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">153</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_11">Capital Instruments</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">154</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_12">Share Capital and Earnings Per Share</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">155</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;13</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_13">Capital Management</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">157</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;14</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_14">Revenue from Service Contracts</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">157</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;15</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_15">Stock-Based Compensation</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">159</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;16</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_16">Employee Future Benefits</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">163</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;17</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_17">Interests in Structured Entities</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">165</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;18</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_18">Commitments and Contingencies</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">167</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;19</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_19">Segmented Information</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">169</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;20</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_20">Related Parties</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">169</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;21</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_21">Subsidiaries</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">171</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;22</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_22">Segregated Funds</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">172</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;23</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#fin661383_23">Information Provided in Connection with Investments in Deferred Annuity Contracts and <I>Signature</I>Notes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.)</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">178</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Note&nbsp;24</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.20em; text-indent:-1.20em; font-size:10pt; font-family:ARIAL"><A HREF="#fin661383_24">Comparatives</A></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>107</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Notes to Consolidated Financial Statements </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">(Canadian $ in millions except per share amounts or unless otherwise stated) </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT
 COLOR="#2a517f"><B><A NAME="fin661383_1"></A>Note 1&nbsp;&nbsp;&nbsp;&nbsp;Nature of Operations and Significant Accounting Policies </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>(a) Reporting entity </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Manulife Financial Corporation (&#147;MFC&#148;) is a publicly traded company and the holding company of The
Manufacturers Life Insurance Company (&#147;MLI&#148;), a Canadian life insurance company. MFC and its subsidiaries (collectively, &#147;Manulife&#148; or the &#147;Company&#148;) is a leading financial services group with principal operations in
Asia, Canada and the United States. Manulife&#146;s international network of employees, agents and distribution partners offers financial protection and wealth management products and services to personal and business clients as well as asset
management services to institutional customers. The Company operates as Manulife in Canada and Asia and as John Hancock in the United States. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MFC is domiciled in
Canada and incorporated under the Insurance Companies Act (Canada) (&#147;ICA&#148;). These Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (&#147;IFRS&#148;) as issued by the
International Accounting Standards Board (&#147;IASB&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">These Consolidated Financial Statements should be read in conjunction with &#147;Risk Management&#148;
in the 2018 Management&#146;s Discussion and Analysis (&#147;MD&amp;A&#148;) dealing with IFRS 7 &#147;Financial Instruments: Disclosures&#148; as the discussion on market risk and liquidity risk includes certain disclosures that are considered an
integral part of these Consolidated Financial Statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">These Consolidated Financial Statements as at and for the year ended December&nbsp;31, 2018 were authorized
for issue by MFC&#146;s Board of Directors on February&nbsp;13, 2019. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Basis of preparation </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application
of accounting policies and the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities as at the date of the Consolidated Financial Statements, and the reported amounts of revenue and expenses during the
reporting periods. Actual results may differ from these estimates. The most significant estimation processes relate to assumptions used in measuring insurance and investment contract liabilities, assessing assets for impairment, determining of
pension and other post-employment benefit obligation and expense assumptions, determining income taxes and uncertain tax positions and fair valuation of certain invested assets. Estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognized in the year in which the estimates are revised and in any future years affected. Although some variability is inherent in these estimates, management believes that the amounts recorded are
appropriate. The significant accounting policies used and the most significant judgments made by management in applying these accounting policies in the preparation of these Consolidated Financial Statements are summarized below. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Fair value measurement </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Fair value is defined
as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction (not a forced liquidation or distress sale) between market participants at the measurement date, that is, an exit value. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">When available, quoted market prices are used to determine fair value. If quoted market prices are not available, fair value is typically based upon alternative valuation
techniques such as discounted cash flows, matrix pricing, consensus pricing services and other techniques. Broker quotes are generally used when external public vendor prices are not available. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company has a process in place that includes a review of price movements relative to the market, a comparison of prices between vendors, and a comparison to internal
matrix pricing which uses predominately external observable data. Judgment is applied in adjusting external observable data for items including liquidity and credit factors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company categorizes its fair value measurements according to a three-level hierarchy. The hierarchy prioritizes the inputs used by the Company&#146;s valuation
techniques. A level is assigned to each fair value measurement based on the lowest level input significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are defined as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Level&nbsp;1 &#150; Fair value measurements that reflect unadjusted, quoted prices in active markets for identical assets and liabilities that the Company can access at
the measurement date reflecting market transactions. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Level&nbsp;2 &#150; Fair value measurements using inputs other than quoted prices included within Level&nbsp;1
that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in inactive markets,
inputs that are observable that are not prices (such as interest rates, credit risks, etc.) and inputs that are derived from or corroborated by observable market data. Most debt securities are classified within Level&nbsp;2. Also, included in the
Level&nbsp;2 category are derivative instruments that are priced using models with observable market inputs, including interest rate swaps, equity swaps, and foreign currency forward contracts. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Level&nbsp;3 &#150; Fair value measurements using significant <FONT STYLE="white-space:nowrap">non-market</FONT> observable inputs. These include valuations for assets
and liabilities that are derived using data, some or all of which is not market observable, including assumptions about risk. Level&nbsp;3 securities include less liquid securities such as structured asset-backed securities, commercial
mortgage-backed securities (&#147;CMBS&#148;), certain long-duration bonds and other securities that have little or no price transparency. Certain derivative financial instruments and investment properties are also included in Level&nbsp;3. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>108</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(d) Basis of consolidation </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MFC consolidates the financial statements of all entities, including certain structured entities that it controls. Subsidiaries are entities controlled by the Company.
The Company has control over an entity when the Company has the power to govern the financial and operating policies of the entity, is exposed to variable returns from its activities which are significant in relation to the total variable returns of
the entity and the Company is able to use its power over the entity to affect its share of variable returns. In assessing control, significant judgment is applied while considering all relevant facts and circumstances. When assessing decision-making
power, the Company considers the extent of its rights relative to the management of an entity, the level of voting rights held in an entity which are potentially or presently exercisable, the existence of any contractual management agreements which
may provide the Company with power over an entity&#146;s financial and operating policies and to the extent of other parties&#146; ownership in an entity, if any, the possibility for de facto control being present. When assessing returns, the
Company considers the significance of direct and indirect financial and <FONT STYLE="white-space:nowrap">non-financial</FONT> variable returns to the Company from an entity&#146;s activities in addition to the proportionate significance of such
returns. The Company also considers the degree to which its interests are aligned with those of other parties investing in an entity and the degree to which it may act in its own interest. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The financial statements of subsidiaries are included in MFC&#146;s consolidated results from the date control is established and are excluded from consolidation from the
date control ceases. The initial control assessment is performed at inception of the Company&#146;s involvement with the entity and is reconsidered at a later date if the Company acquires or loses power over key operating and financial policies of
the entity; acquires additional interests or disposes of interests in the entity; the contractual arrangements of the entity are amended such that the Company&#146;s proportionate exposure to variable returns changes; or if the Company&#146;s
ability to use its power to affect its variable returns from the entity changes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s Consolidated Financial Statements have been prepared using
uniform accounting policies for like transactions and events in similar circumstances. Intercompany balances, and income and expenses arising from intercompany transactions, have been eliminated in preparing the Consolidated Financial Statements.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests are interests of other parties in the equity of MFC&#146;s subsidiaries and are presented within
total equity, separate from the equity of MFC&#146;s shareholders. <FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests in the net income and other comprehensive income (&#147;OCI&#148;) of MFC&#146;s subsidiaries are included in total
net income and total OCI, respectively. An exception to this occurs where the subsidiary&#146;s shares are required to be redeemed for cash on a fixed or determinable date, in which case other parties&#146; interests in the subsidiary&#146;s capital
are presented as liabilities of the Company and other parties&#146; <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests in the subsidiary&#146;s income and OCI are recorded as expenses of the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The equity method of accounting is used to account for entities over which the Company has significant influence (&#147;associates&#148; or &#147;joint ventures&#148;),
whereby the Company records its share of the associate&#146;s or joint venture&#146;s net assets and financial results using uniform accounting policies for similar transactions and events. Significant judgment is used to determine whether voting
rights, contractual management and other relationships with the entity, if any, provide the Company with significant influence or joint control over the entity. Gains and losses on the sale of associates or joint ventures are included in income when
realized, while impairment losses are recognized immediately when there is objective evidence of impairment. Gains and losses on commercial transactions with associates or joint ventures are eliminated to the extent of the Company&#146;s interest in
the associate or joint venture. Investments in associates or joint ventures are included in other invested assets on the Company&#146;s Consolidated Statements of Financial Position. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(e) Invested assets </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Invested assets that are
considered financial instruments are classified as fair value through profit or loss (&#147;FVTPL&#148;), loans and receivables, or as <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">available-for-sale</FONT></FONT>
(&#147;AFS&#148;) financial assets. The Company determines the classification of its financial assets at initial recognition. Invested assets are recognized initially at fair value plus, in the case of investments not at FVTPL, directly attributable
transaction costs. Invested assets are classified as financial instruments at FVTPL if they are held for trading, if they are designated by management under the fair value option, or if they are designated by management when they include one or more
embedded derivatives. Invested assets classified as AFS are <FONT STYLE="white-space:nowrap">non-derivative</FONT> financial assets that do not fall into any of the other categories described above. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Valuation methods for the Company&#146;s invested assets are described above. All fair value valuations are performed in accordance with IFRS 13 &#147;Fair Value
Measurement&#148;. Disclosure of financial instruments carried at fair value with the three levels of the fair value hierarchy and the disclosure of the fair value for financial instruments not carried at fair value on the Consolidated Statements of
Financial Position are presented in note 3. Fair value valuations are performed by the Company and by third-party service providers. When third-party service providers are engaged, the Company performs a variety of procedures to corroborate pricing
information. These procedures may include, but are not limited to, inquiry and review of valuation techniques, inputs to the valuation and vendor controls reports. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Cash and short-term securities comprise of cash, current operating accounts, overnight bank and term deposits, and fixed income securities held for meeting short-term
cash commitments. Short-term securities are carried at fair value. Short-term securities are comprised of investments due to mature within one year of the date of purchase. Commercial paper and discount notes are classified as Level&nbsp;2 because
these securities are typically not actively traded. Net payments in transit and overdraft bank balances are included in other liabilities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Debt securities are
carried at fair value. Debt securities are generally valued by independent pricing vendors using proprietary pricing models incorporating current market inputs for similar instruments with comparable terms and credit quality (matrix pricing). The
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>109</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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significant inputs include, but are not limited to, yield curves, credit risks and spreads, measures of volatility and prepayment rates. These debt securities are classified as Level&nbsp;2 but
can be Level&nbsp;3 if significant inputs are market unobservable. Realized gains and losses on sale of debt securities and unrealized gains and losses on debt securities designated as FVTPL are recognized in investment income immediately.
Unrealized gains and losses on AFS debt securities are recorded in OCI, except for unrealized gains and losses on foreign currency translation which are included in income. Impairment losses on AFS debt securities are recognized in income on an
individual security basis when there is objective evidence of impairment. Impairment is considered to have occurred, based on management&#146;s judgment, when it is deemed probable that the Company will not be able to collect all amounts due
according to the debt security&#146;s contractual terms. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Equities are comprised of common and preferred equities and are carried at fair value. Equities are
generally classified as Level&nbsp;1, as fair values are normally based on quoted market prices. Realized gains and losses on sale of equities and unrealized gains and losses on equities designated as FVTPL are recognized in investment income
immediately. Unrealized gains and losses on AFS equities are recorded in OCI. Impairment losses on AFS equities are recognized in income on an individual security basis when there is objective evidence of impairment. Impairment is considered to have
occurred when fair value has declined below cost by a significant amount or for a prolonged period of time. Judgment is applied in determining whether the decline is significant or prolonged. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Mortgages are carried at amortized cost and are classified as Level&nbsp;3 for fair value purposes due to the lack of market observability of certain significant
valuation inputs. Realized gains and losses are recorded in investment income immediately. Impairment losses are recorded on mortgages when there is no longer reasonable assurance as to the timely collection of the full amount of principal and
interest and are measured based on the discounted value of expected future cash flows at the original effective interest rates inherent in the mortgage. Expected future cash flows of impaired mortgages are typically determined with reference to the
fair value of collateral security underlying the mortgage, net of expected costs of realization and any applicable insurance recoveries. Significant judgment is applied in the determination of impairment including the timing and amount of future
collections. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company accounts for insured and uninsured mortgage securitizations as secured financing transactions since the criteria for sale accounting are not
met. For these transactions, the Company continues to recognize the mortgages and records a liability in other liabilities for the amounts owed at maturity. Interest income from these mortgages and interest expense on the borrowings are recorded
using the effective interest rate method. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Private placements, which include corporate loans for which there is no active market, are carried at amortized cost and
are generally classified as Level&nbsp;2 for fair value disclosure purposes or as Level&nbsp;3 if significant inputs are market unobservable. Realized gains and losses are recorded in income immediately. Impairment losses are recorded on private
placements when there is no longer assurance as to the timely collection of the full amount of principal and interest. Impairment is measured based on the discounted value of expected future cash flows at the original effective interest rate
inherent in the loan. Significant judgment is applied in the determination of impairment including the timing and amount of future collections. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Policy loans are
carried at an amount equal to their unpaid balances and are classified as Level&nbsp;2 for fair value disclosure purposes. Policy loans are fully collateralized by the cash surrender value of the underlying policies. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Loans to Manulife Bank of Canada (&#147;Manulife Bank&#148; or &#147;Bank&#148;) clients are carried at amortized cost, and are classified as Level&nbsp;2 for fair value
disclosure purposes. A loan to a Bank client is considered impaired when there is objective evidence of impairment because of one or more loss events that have occurred after initial recognition, with a negative impact on the estimated future cash
flows of the loan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Once established, allowances for impairment of mortgages, private placements and loans to Bank clients are reversed only if the conditions that
caused the impairment no longer exist. Reversals of impairment charges on AFS debt securities are only recognized in income to the extent that increases in fair value can be attributed to events after the impairment loss being recorded. Impairment
losses for AFS equity instruments are not reversed through income. On disposition of an impaired asset, any allowance for impairment is released. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In addition to
impairments and provisions for loan losses (recoveries) reported in investment income, the measurement of insurance contract liabilities, via investment return assumptions, includes expected future credit losses on fixed income investments. Refer to
note 7(d). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Interest income is recognized on debt securities, mortgages, private placements, policy loans and loans to Bank clients as it accrues and is calculated
using the effective interest rate method. Premiums, discounts and transaction costs are amortized over the life of the underlying investment using the effective yield method for all debt securities as well as mortgages and private placements
measured at amortized cost. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company records purchases and sales of invested assets on a trade date basis, except for loans originated by the Company, which are
recognized on a settlement date basis. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Real estate consists of both own use and investment property. Own use property is carried at cost less accumulated
depreciation and any accumulated impairment losses. Depreciation is calculated based on the cost of an asset less its residual value and is recognized in income on a straight-line basis over the estimated useful life ranging from 30 to 60 years.
Impairment losses are recorded in income to the extent the recoverable amount is less than the carrying amount. Where own use property is included in assets backing insurance contract liabilities, the fair value of the property is used in the
valuation of insurance contract liabilities. Own use property is classified as Level&nbsp;3 for fair value disclosure purposes. </P>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>110</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">An investment property is a property held to earn rental income, for capital appreciation, or both. Investment
properties are measured at fair value, with changes in fair value recognized in income. Fair value is determined using external appraisals that are based on the highest and best use of the property. The valuation techniques used include discounted
cash flows, the direct capitalization method as well as comparable sales analysis and include both observable and unobservable inputs. Inputs include existing and assumed tenancies, market data from recent comparable transactions, future economic
outlook and market risk assumptions, capitalization rates and internal rates of return. Investment properties are classified as Level&nbsp;3 for fair value disclosure purposes. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">When a property changes from own use to investment property, any gain arising on the remeasurement of the property to fair value at the date of transfer is recognized in
OCI, to the extent that it is not reversing a previous impairment loss. Reversals of impairment losses are recognized in income. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other invested assets include
private equity and property investments held in power and infrastructure and timber, as well as in agriculture and oil and gas sectors. Private equity investments are accounted for as associates using the equity method (as described in note 1(d)
above) or are classified as FVTPL or AFS and carried at fair value. Investments in oil and gas exploration and evaluation activities are measured on the cost basis using the &#147;successful efforts&#148; method. Timber and agriculture properties
are measured at fair value with changes in fair value recognized in income, except for buildings, equipment and bearer plants which are measured at amortized cost. The fair value of other invested assets is determined using a variety of valuation
techniques as described in note 3. Other invested assets that are measured or disclosed at fair value are classified as Level&nbsp;3. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other invested assets also
include investments in leveraged leases, which are accounted for using the equity method. The carrying value under the equity method reflects the amortized cost of the lease receivable and related <FONT STYLE="white-space:nowrap">non-recourse</FONT>
debt using the effective yield method. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(f) Goodwill and intangible assets </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Goodwill represents the difference between the purchase consideration of an acquired business and the Company&#146;s proportionate share of the net identifiable assets
acquired. It is initially recorded at cost and subsequently measured at cost less any accumulated impairment. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Goodwill is tested for impairment at least annually and
whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable at the cash generating unit (&#147;CGU&#148;) or group of CGUs level. The Company allocates goodwill to CGUs or groups of CGUs for impairment
testing based on the lowest level within the entity in which the goodwill is monitored for internal management purposes. The allocation is made to those CGUs or groups of CGUs that are expected to benefit from the business combination in which the
goodwill arose. Any potential impairment of goodwill is identified by comparing the recoverable amount of a CGU or group of CGUs to its carrying value. Goodwill is reduced by the amount of deficiency, if any. If the deficiency exceeds the carrying
amount of goodwill, the carrying values of the remaining assets in the CGU or group of CGUs are subject to being reduced by the excess on a <FONT STYLE="white-space:nowrap">pro-rata</FONT> basis. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The recoverable amount of a CGU is the higher of the estimated fair value less costs to sell or the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">value-in-use</FONT></FONT> of the CGU. In assessing <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">value-in-use,</FONT></FONT> estimated future cash flows are
discounted using a <FONT STYLE="white-space:nowrap">pre-tax</FONT> discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In some cases, the most recent detailed calculation made in a
prior period of the recoverable amount of a CGU is used in the testing of impairment of goodwill in the current period. This is the case only if there are no significant changes to the CGU, the likelihood of impairment is remote based on the
analysis of current events and circumstances, and the most recent recoverable amount substantially exceeds the carrying amount of the CGU. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Intangible assets with
indefinite useful lives include the John Hancock brand name and certain investment management contracts. The indefinite useful life assessment for brand is based on the brand name being protected in markets where branded products are sold by
trademarks, which are renewable indefinitely, and for certain investment management contracts due to the ability to renew these contracts indefinitely. In addition, there are no legal, regulatory or contractual provisions that limit the useful lives
of these intangible assets. An intangible asset with an indefinite useful life is not amortized but is subject to an annual impairment test which is performed more frequently if there is an indication that it is not recoverable. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Intangible assets with finite useful lives include acquired distribution networks, customer relationships, capitalized software, certain investment management contracts
and other contractual rights. Distribution networks, customer relationships, and other finite life intangible assets are amortized over their estimated useful lives, six to 68 years, either based on straight-line or in relation to other asset
consumption metrics. Software intangible assets are amortized on a straight-line basis over their estimated useful lives of three to five years. Finite life intangible assets are assessed for indicators of impairment at each reporting period. If any
indication of impairment exists, these assets are subject to an impairment test. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(g) Miscellaneous assets </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Miscellaneous assets include assets held in a rabbi trust with respect to unfunded defined benefit obligations, defined benefit assets, if any (refer to note 1(o)),
deferred acquisition costs and capital assets. Deferred acquisition costs are carried at cost less accumulated amortization. These costs are recognized over the period where redemption fees may be charged or over the period revenue is earned.
Capital assets are carried at cost less accumulated amortization computed on a straight-line basis over their estimated useful lives, which vary from two to 10 years. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(h) Segregated funds </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company manages
several segregated funds on behalf of policyholders. The investment returns on these funds are passed directly to policyholders. In some cases, the Company has provided guarantees associated with these funds. </P>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>111</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Segregated funds net assets are measured at fair value and primarily include investments in mutual funds, debt
securities, equities, cash, short-term investments and other investments. With respect to the consolidation requirement of IFRS, in assessing the Company&#146;s degree of control over the underlying investments, the Company considers the scope of
its decision-making rights, the rights held by other parties, its remuneration as an investment manager and its exposure to variability of returns. The Company has determined that it does not have control over the underlying investments as it acts
as an agent on behalf of segregated fund policyholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The methodology applied to determine the fair value of investments held in segregated funds is consistent
with that applied to invested assets held by the general fund, as described above in note 1(e). Segregated funds liabilities are measured based on the value of the segregated funds net assets. Investment returns on segregated funds assets belong to
policyholders and the Company does not bear the risk associated with these assets outside of guarantees offered on certain variable life and annuity products, for which the underlying investments are held within segregated funds. Accordingly,
investment income earned by segregated funds and expenses incurred by segregated funds are offset and are not separately presented in the Consolidated Statements of Income. Fee income earned by the Company for managing the segregated funds is
included in other revenue. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Liabilities related to guarantees associated with certain segregated funds, as a result of certain variable life and annuity contracts,
are recorded within the Company&#146;s insurance contract liabilities. The Company holds assets supporting these guarantees which are recognized in invested assets according to their investment type. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(i) Insurance and investment contract liabilities </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Most contracts issued by the Company are considered insurance, investment or service contracts. Contracts under which the Company accepts significant insurance risk from
a policyholder are classified as insurance contracts in the Consolidated Financial Statements. A contract is considered to have significant insurance risk if, and only if, an insured event could cause an insurer to make significant additional
payments in any scenario, excluding scenarios that lack commercial substance at the inception of the contract. Contracts under which the Company does not accept significant insurance risk are either classified as investment contracts or considered
service contracts and are accounted for in accordance with IAS 39<I> &#147;</I>Financial Instruments: Recognition and Measurement<I>&#148;</I> or IFRS 15 &#147;Revenue from Contracts with customers&#148;, respectively. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Once a contract has been classified as an insurance contract it remains an insurance contract even if the insurance risk reduces significantly. Investment contracts can
be reclassified as insurance contracts if insurance risk subsequently becomes significant. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Insurance contract liabilities, net of reinsurance assets, represent the
amount which, together with estimated future premiums and net investment income, will be sufficient to pay estimated future benefits, policyholder dividends and refunds, taxes (other than income taxes) and expenses on policies <FONT
STYLE="white-space:nowrap">in-force.</FONT> Insurance contract liabilities are presented gross of reinsurance assets on the Consolidated Statements of Financial Position. The Company&#146;s Appointed Actuary is responsible for determining the amount
of insurance contract liabilities in accordance with standards established by the Canadian Institute of Actuaries. Insurance contract liabilities, net of reinsurance assets, have been determined using the Canadian Asset Liability Method
(&#147;CALM&#148;) as permitted by IFRS 4 &#147;Insurance Contracts&#148;. Refer to note 7. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Investment contract liabilities include contracts issued to retail and
institutional investors that do not contain significant insurance risk. Investment contract liabilities and deposits are measured at amortized cost or at fair value by election. The election reduces accounting mismatches between assets supporting
these contracts and the related policy liabilities. Investment contract liabilities are derecognized when the contract expires, is discharged or is cancelled. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Derivatives embedded within insurance contracts are separated if they are not considered to be closely related to the host insurance contract and do not meet the
definition of an insurance contract. These embedded derivatives are presented separately in other assets or other liabilities and are measured at fair value with changes in fair value recognized in income. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(j) Reinsurance assets </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company uses
reinsurance in the normal course of business to manage its risk exposure. Insurance ceded to a reinsurer does not relieve the Company from its obligations to policyholders. The Company remains liable to its policyholders for the portion reinsured to
the extent that any reinsurer does not meet its obligations for reinsurance ceded to it under a reinsurance agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Reinsurance assets represent the benefit
derived from reinsurance agreements <FONT STYLE="white-space:nowrap">in-force</FONT> at the reporting date, considering the financial condition of the reinsurer. Amounts recoverable from reinsurers are estimated in accordance with the terms of the
relevant reinsurance contract. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Gains or losses on reinsurance transactions are recognized in income immediately on the transaction date and are not amortized.
Premiums ceded and claims reimbursed are presented on a gross basis on the Consolidated Statements of Income. Reinsurance assets are not offset against the related insurance contract liabilities and are presented separately on the Consolidated
Statements of Financial Position. Refer to note 7(a). </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(k) Other financial instruments accounted for as liabilities </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company issues a variety of other financial instruments classified as liabilities, including notes payable, term notes, senior notes, senior debentures, subordinated
notes, surplus notes, subscription receipts and preferred shares. These financial liabilities are measured at amortized cost, with issuance costs deferred and amortized using the effective interest rate method. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>112</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(l) Income taxes </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The provision for income taxes is calculated based on income tax laws and income tax rates substantively enacted as at the date of the Consolidated Statements of
Financial Position. The income tax provision is comprised of current income taxes and deferred income taxes. Current and deferred income taxes relating to items recognized in OCI and directly in equity are similarly recognized in OCI and directly in
equity, respectively. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Current income taxes are amounts expected to be payable or recoverable for the current year and any adjustments to taxes payable in respect of
previous years. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Deferred income taxes are provided for using the liability method and result from temporary differences between the carrying values of assets and
liabilities and their respective tax bases. Deferred income taxes are measured at the substantively enacted tax rates that are expected to be applied to temporary differences when they reverse. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A deferred tax asset is recognized to the extent that future realization of the tax benefit is probable. Deferred tax assets are reviewed at each reporting date and are
reduced to the extent that it is no longer probable that the tax benefit will be realized. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets and they relate to income
taxes levied by the same tax authority on the same taxable entity. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Deferred tax liabilities are recognized for all taxable temporary differences, except in respect
of taxable temporary differences associated with investments in subsidiaries, associates and joint ventures, where the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not
reverse in the foreseeable future. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company records provisions for uncertain tax positions if it is probable that the Company will make a payment on tax positions
due to examinations by tax authorities. These provisions are measured at the Company&#146;s best estimate of the amount expected to be paid. Provisions are reversed to income in the period in which management assesses they are no longer required or
determined by statute. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company is subject to income tax laws in various jurisdictions. Tax laws are complex and potentially subject to different interpretations
by the taxpayer and the relevant tax authority. The provision for income taxes and deferred income taxes represents management&#146;s interpretation of the relevant tax laws and its estimate of current and future income tax implications of the
transactions and events during the year. The Company may be required to change its provision for income taxes or deferred income tax balances when the ultimate deductibility of certain items is successfully challenged by taxing authorities, or if
estimates used in determining the amount of deferred tax asset to recognize change significantly, or when receipt of new information indicates the need for adjustment in the amount of deferred income taxes to be recognized. Additionally, future
events, such as changes in tax laws, tax regulations, or interpretations of such laws or regulations, could have an impact on the provision for income taxes, deferred tax balances and the effective tax rate. Any such changes could materially affect
the amounts reported in the Consolidated Financial Statements in the period these changes occur. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(m) Foreign currency translation
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Items included in the financial statements of each of the Company&#146;s subsidiaries are measured by each subsidiary using the currency of the primary
economic environment in which the entity operates (the &#147;functional currency&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Transactions in a foreign currency are translated to the functional currency
at the exchange rate prevailing at the date of the transaction. Assets and liabilities denominated in foreign currencies are translated to the functional currency at the exchange rate in effect at the reporting date. Revenue and expenses denominated
in foreign currencies are translated at the average exchange rate prevailing during the quarter reported. Exchange gains and losses are recognized in income except for translation of net investments in foreign operations and the results of hedging
these positions. These foreign exchange gains and losses are recognized in OCI until such time that the foreign operation is disposed of or control or significant influence over it is lost. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(n) Stock-based compensation </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company
provides stock-based compensation to certain employees and directors as described in note 15. Compensation expense of equity instruments is accrued based on the best estimate of the number of instruments expected to vest, with revisions made to that
estimate if subsequent information indicates that actual forfeitures are likely to differ from initial estimates, unless forfeitures are due to market-based conditions. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Stock options are expensed with a corresponding increase in contributed surplus. Restricted share units and deferred share units are expensed with a corresponding
liability accrued based on the market value of MFC&#146;s common shares at the end of each quarter. Performance share units are expensed with a corresponding liability accrued based on specific performance conditions and the market value of
MFC&#146;s common shares at the end of each quarter. The change in the value of the awards resulting from changes in the market value of MFC&#146;s common shares or changes in the specific performance conditions and credited dividends is recognized
in income, offset by the impact of total return swaps used to manage the variability of the related liability. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Stock-based compensation cost is recognized over the
applicable vesting period, except if the employee is eligible to retire at the time of grant or will be eligible to retire during the vesting period. Compensation cost, attributable to stock options, restricted share units, and performance share
units granted to employees who are eligible to retire on the grant date or who will become eligible to retire during the vesting period, is recognized at the grant date or over the period from the grant date to the date of retirement eligibility,
respectively. </P>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>113</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s contributions to the Global Share Ownership Plan (&#147;GSOP&#148;) (refer to note 15(d)), are
expensed as incurred. Under the GSOP, subject to certain conditions, the Company will match a percentage of an employee&#146;s eligible contributions to certain maximums. All contributions are used by the plan&#146;s trustee to purchase MFC common
shares in the open market. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(o) Employee future benefits </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company maintains defined contribution and defined benefit pension plans and other post-employment plans for employees and agents including registered (tax qualified)
pension plans that are typically funded as well as supplemental <FONT STYLE="white-space:nowrap">non-registered</FONT> <FONT STYLE="white-space:nowrap">(non-qualified)</FONT> pension plans for executives, retiree and disability welfare plans that
are typically not funded. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s obligation in respect of defined benefit pension and other post-employment benefits is calculated for each plan as the
estimated present value of future benefits that eligible employees have earned in return for their service up to the reporting date using the projected benefit method. The discount rate used is based on the yield, as at the reporting date, of high
quality corporate debt securities that have approximately the same term as the obligations and that are denominated in the same currency in which the benefits are expected to be paid. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">To determine the Company&#146;s net defined benefit asset or liability, the fair value of plan assets is deducted from the defined benefit obligations. When this
calculation results in a surplus, the asset that can be recognized is limited to the present value of future economic benefit available in the form of future refunds from the plan or reductions in future contributions to the plan (the asset limit).
Defined benefit assets are included in other assets and defined benefit liabilities are included in other liabilities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Changes in the net defined benefit asset or
liability due to <FONT STYLE="white-space:nowrap">re-measurement</FONT> of pension and retiree welfare plans are recorded in OCI in the period in which they occur and are not reclassified to income in subsequent periods. They consist of actuarial
gains and losses, the impact of the asset limit, if any, and the return on plan assets, excluding amounts included in net interest income or expense. Changes in the net defined benefit asset or liability due to
<FONT STYLE="white-space:nowrap">re-measurement</FONT> of disability welfare plans are recorded in income in the period in which they occur. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The cost of defined
benefit pension plans is recognized over the employee&#146;s years of service to retirement while the cost of retiree welfare plans is recognized over the employee&#146;s years of service to their date of full eligibility. The net benefit cost for
the year is recorded in income and is calculated as the sum of the service cost in respect of the fiscal year, the net interest income or expense and any applicable administration expenses, plus past service costs or credits resulting from plan
amendments or curtailments. The net interest income or expense is determined by applying the discount rate to the net defined benefit asset or liability. The current year cost of disability welfare plans is the year-over-year change in the defined
benefit obligation, including any actuarial gains or losses. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The cost of defined contribution plans is the contribution provided by the Company and is recorded in
income in the periods during which services are rendered by employees. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(p) Derivative and hedging instruments </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company uses derivative financial instruments (&#147;derivatives&#148;) including swaps, forward and futures agreements, and options to manage current and anticipated
exposures to changes in interest rates, foreign exchange rates, commodity prices and equity market prices, and to replicate permissible investments. Derivatives embedded in other financial instruments are separately recorded as derivatives when
their economic characteristics and risks are not closely related to those of the host instrument, the terms of the embedded derivative are the same as those of a standalone derivative and the host instrument itself is not recorded at FVTPL.
Derivatives are recorded at fair value. Derivatives with unrealized gains are reported as derivative assets and derivatives with unrealized losses are reported as derivative liabilities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A determination is made for each derivative as to whether to apply hedge accounting. Where hedge accounting is not applied, changes in the fair value of derivatives are
recorded in investment income. Refer to note 3(c). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Where the Company has elected to apply hedge accounting, a hedging relationship is designated and documented at
inception. Hedge effectiveness is evaluated at inception and throughout the term of the hedge. Hedge accounting is only applied when the Company expects that the hedging relationship will be highly effective in achieving offsetting changes in fair
value or changes in cash flows attributable to the risk being hedged. The assessment of hedge effectiveness is performed at the end of each reporting period both prospectively and retrospectively. When it is determined that a hedging relationship is
no longer effective, or the hedging instrument or the hedged item has been sold or terminated, the Company discontinues hedge accounting prospectively. In such cases, if the derivatives are not sold or terminated, any subsequent changes in fair
value of the derivatives are recognized in investment income. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">For derivatives that are designated as hedging instruments, changes in fair value are recognized
according to the nature of the risks being hedged, as discussed below. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In a fair value hedging relationship, changes in fair value of the hedging instruments are
recorded in investment income, offsetting changes in fair value of the hedged items, which would otherwise not be carried at fair value. Hedge ineffectiveness is recognized in investment income and arises from differences between changes in the fair
values of hedging instruments and hedged items. When hedge accounting is discontinued, the carrying value of the hedged item is no longer adjusted and the cumulative fair value adjustments are amortized to investment income over the remaining term
of the hedged item unless the hedged item is sold, at which time the balance is recognized immediately in investment income. </P>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>114</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In a cash flow hedging relationship, the effective portion of the change in the fair value of the hedging instrument is
recorded in OCI while the ineffective portion is recognized in investment income. Gains and losses in accumulated other comprehensive income (AOCI) are recognized in income during the same periods as the variability in the hedged cash flows or the
hedged forecasted transactions are recognized in income. The reclassifications from AOCI are made to investment income, except for total return swaps that hedge restricted share units, which are reclassified to general expenses. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Gains and losses on cash flow hedges in AOCI are reclassified immediately to investment income when the hedged item is sold or the forecasted transaction is no longer
expected to occur. When a hedge is discontinued, but the hedged forecasted transaction remains highly probable to occur, the amounts in AOCI are reclassified to investment income in the periods during which variability in the cash flows hedged or
the hedged forecasted transaction is recognized in income. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In a net investment in foreign operations hedging relationship, gains and losses relating to the effective
portion of the hedge are recorded in OCI. Gains and losses in AOCI are recognized in income during the periods when gains or losses on the underlying hedged net investment in foreign operations are recognized in income. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(q) Premium income and related expenses </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Gross
premiums for all types of insurance contracts, and contracts with limited mortality or morbidity risk, are generally recognized as revenue when due. Premiums are reported gross of reinsurance ceded (refer to note 7). </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(r) Revenue from service contracts </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company
recognizes revenue from service contracts in accordance with IFRS 15.&nbsp;The Company&#146;s service contracts generally impose single performance obligations, each consisting of a series of similar related services for each customer.&nbsp;Revenue
is recorded as performance obligations are satisfied over time because the customers simultaneously receive and consume the benefits of the services rendered, measured using an output method. Revenue for variable consideration is recognized to the
extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty is subsequently resolved.&nbsp;Refer to Note 14. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_2"></A>Note 2&nbsp;&nbsp;&nbsp;&nbsp;Accounting and Reporting Changes </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Changes in accounting policy </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>(I) IFRS 15 &#147;Revenue from Contracts with Customers&#148; </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company adopted IFRS 15
&#147;Revenue from Contracts with Customers&#148; which was issued In May 2014, and replaces IAS 11 &#147;Construction Contracts,&#148; IAS 18 &#147;Revenue&#148; and several interpretations. Amendments to IFRS 15 were issued in April 2016. IFRS 15
clarifies revenue recognition principles, provides a robust framework for recognizing revenue and cash flows arising from contracts with customers and enhances qualitative and quantitative disclosure requirements. IFRS 15 does not apply to insurance
contracts, financial instruments and lease contracts. The Company adopted IFRS 15 using the modified retrospective method with no restatement of comparative information. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s service arrangements are generally satisfied over time, with revenue measured and collected from customers within a short term, as services are
rendered. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Adoption of IFRS 15 did not have a significant impact or result in transitional adjustments on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(II) IFRS 9 &#147;Financial Instruments&#148; and Amendments to IFRS 4 &#147;Insurance Contracts&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company adopted the amendments to IFRS 4 &#147;Insurance Contracts&#148; issued in September 2016. IFRS 9 &#147;Financial
Instruments&#148; replaced IAS 39 &#147;Financial Instruments: Recognition and Measurement&#148; and resulted in revisions to classification and measurement, impairment of financial assets, and hedge accounting. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">To address concerns about differing effective dates of IFRS 9 &#147;Financial Instruments&#148; which is effective on January&nbsp;1, 2018 and IFRS 17 &#147;Insurance
Contracts&#148; which is effective on January&nbsp;1, 2021, amendments to IFRS 4 &#147;Insurance Contracts&#148; provides companies whose activities are predominantly related to insurance an optional temporary exemption from applying IFRS 9 until
January&nbsp;1, 2021. Adoption of these amendments enabled the Company to defer the adoption of IFRS 9 and continue to apply IAS 39 until January&nbsp;1,&nbsp;2021. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In November 2018, the IASB tentatively decided to defer the fixed expiry date for the temporary exemption in IFRS 4 from applying IFRS 9 by one year for companies whose
activities are predominantly related to insurance. MFC&#146;s activities are predominantly related to insurance. The proposed deferral is subject to IASB public consultation in 2019 which is expected to result in an exposure draft followed by a
public comment period. The Company will continue to monitor IASB&#146;s future developments related to the deferral. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In order to compare with entities applying IFRS
9, the amendments to IFRS 4 require deferring entities to disclose additional information regarding the contractual cashflows characteristics and credit exposure of their financial statements. Deferring entities must disclose which financial assets
have contractual terms that are solely payments of principal and interest on principal outstanding (&#147;SPPI&#148;). Adoption of these disclosure requirements did not have a significant impact on the Company&#146;s Consolidated Financial
Statements. Refer to note&nbsp;3(a). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>115</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(III) Amendments to IFRS 2 &#147;Share-Based Payment&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company adopted amendments to IFRS 2 &#147;Share-Based Payment&#148;, issued in June 2016. These amendments were applied
prospectively. The amendments clarify the effects of vesting and <FONT STYLE="white-space:nowrap">non-vesting</FONT> conditions on the measurement of cash-settled share-based payments; provide guidance on the classification of share-based payment
transactions with net settlement features for withholding tax obligations; and clarify accounting for modification to the terms and conditions of a share-based payment that changes the classification of the transaction from cash-settled to
equity-settled. Adoption of these amendments did not have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(IV) IFRIC 22 &#147;Foreign Currency Transactions and Advance Consideration&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company adopted IFRIC 22 &#147;Foreign Currency Transactions and Advance Consideration&#148;, issued in December 2016. IFRIC 22 was
applied prospectively. IFRIC 22 addresses which foreign exchange rate to use to measure a foreign currency transaction when advance payments are made or received and <FONT STYLE="white-space:nowrap">non-monetary</FONT> assets or liabilities are
recognized prior to recognition of the underlying transaction. IFRIC 22 does not relate to goods or services accounted for at fair value or at the fair value of consideration paid or received at a date other than the date of initial recognition of
the <FONT STYLE="white-space:nowrap">non-monetary</FONT> asset or liability, or to income taxes, insurance contracts or reinsurance contracts. The foreign exchange rate on the day of the advance payment is used to measure the foreign currency
transaction. If multiple advance payments are made or received, each payment is measured separately. Adoption of IFRIC 22 did not have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(V) Annual improvements to IFRS Standards 2014-2016 Cycle </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company adopted amendments issued within the Annual Improvements to IFRS Standards 2014-2016 Cycle, as issued by the IASB in December
2016. Minor amendments as part of this cycle were effective in 2017 and were adopted by the Company in that year, with remaining amendments being effective January&nbsp;1, 2018. The amendments were applied retrospectively. Adoption of these
amendments did not have a significant impact on the Company&#146;s Consolidated Financial Statements. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Future accounting and reporting
changes </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(I) IFRS 9 &#147;Financial Instruments&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 9 &#147;Financial Instruments&#148; was issued in November 2009 and amended in October 2010, November 2013 and July 2014, and is effective for years beginning on or
after January&nbsp;1, 2018, to be applied retrospectively, or on a modified retrospective basis. Additionally, the IASB issued amendments in October 2017 that are effective for annual periods beginning on or after January&nbsp;1, 2019. The standard
is intended to replace IAS 39 &#147;Financial Instruments: Recognition and Measurement&#148;. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The project has been divided into three phases: classification and
measurement, impairment of financial assets, and hedge accounting. IFRS 9&#146;s current classification and measurement methodology provides that financial assets are measured at either amortized cost or fair value on the basis of the entity&#146;s
business model for managing the financial assets and the contractual cash flow characteristics of the financial assets. The classification and measurement for financial liabilities remains generally unchanged; however, for a financial liability
designated as at fair value through profit or loss, revisions have been made in the accounting for changes in fair value attributable to changes in the credit risk of that liability. Gains or losses caused by changes in an entity&#146;s own credit
risk on such liabilities are no longer recognized in profit or loss but instead are reflected in OCI. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Revisions to hedge accounting were issued in November 2013 as
part of the overall IFRS 9 project. The amendment introduces a new hedge accounting model, together with corresponding disclosures about risk management activity for those applying hedge accounting. The new model represents a substantial overhaul of
hedge accounting that will enable entities to better reflect their risk management activities in their financial statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Revisions issued in July 2014 replace
the existing incurred loss model used for measuring the allowance for credit losses with an expected loss model. Changes were also made to the existing classification and measurement model designed primarily to address specific application issues
raised by early adopters of the standard. They also address the income statement accounting mismatches and short-term volatility issues which have been identified as a result of the insurance contracts project. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company elected to defer IFRS 9 until January&nbsp;1, 2021 as allowed under the amendments to IFRS 4 &#147;Insurance Contracts&#148; outlined above. The Company is
assessing the impact of this standard. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(II) IFRS 16 &#147;Leases&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 16 &#147;Leases&#148; was issued in January 2016 and is effective for years beginning on or after January&nbsp;1, 2019. It will replace IAS 17 &#147;Leases&#148; and
IFRIC 4 &#147;Determining whether an arrangement contains a lease&#148;. The Company will adopt IFRS 16 effective January&nbsp;1,&nbsp;2019, on a modified retrospective basis with no restatement of comparative information. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract. The standard brings most leases <FONT
STYLE="white-space:nowrap">on-balance</FONT> sheet for lessees under a single model, eliminating the previous classifications of operating and finance leases. Exemptions to this treatment are for lease contracts with low value assets or leases with
duration of less than one year. The <FONT STYLE="white-space:nowrap">on-balance</FONT> sheet treatment will result in a grossing up of the balance sheet due to
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets being recognized with offsetting liabilities. Lessor accounting will remain largely unchanged with previous classifications of operating and finance
leases being maintained. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Adoption of IFRS 16 is not expected to have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>116</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(III) IFRS Interpretation Committee (&#147;IFRIC&#148;) Interpretation 23 &#147;Uncertainty
over Income Tax Treatments&#148; </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRIC 23 &#147;Uncertainty over Income Tax Treatments&#148; was issued in June 2017 and is effective for years beginning
on or after January&nbsp;1,&nbsp;2019, to be applied retrospectively. IFRIC 23 provides guidance on applying the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments including whether uncertain tax
treatments should be considered together or separately based on which approach better predicts resolution of the uncertainty. Adoption of IFRIC 23 is not expected to have a significant impact on the Company&#146;s Consolidated Financial Statements.
</P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(IV) Amendments to IAS 28 &#147;Investments in Associates and Joint Ventures&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Amendments to IAS 28 &#147;Investments in Associates and Joint Ventures&#148; were issued in October 2017 and are effective for annual periods beginning on or after
January&nbsp;1, 2019, to be applied retrospectively. The amendments clarify that an entity applies IFRS 9 &#147;Financial Instruments&#148; to financial interests in an associate or joint venture to which the equity method is not applied. IAS 39
will be applied to these interests until IFRS 9 is adopted. Adoption of these amendments is not expected to have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(V) Annual Improvements 2015&#150;2017 Cycle </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Annual Improvements 2015 &#150; 2017 Cycle was issued in December 2017 and is effective for years beginning on or after January&nbsp;1,&nbsp;2019. The IASB issued three
minor amendments to different standards as part of the Annual Improvements process, with the amendments to be applied prospectively. Adoption of these amendments is not expected to have significant impact on the Company&#146;s Consolidated Financial
Statements. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(VI) Amendments to IAS 19 &#147;Employee Benefits&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Amendments to IAS 19 &#147;Employee Benefits&#148; were issued in February 2018 and are effective for annual periods beginning on or after January&nbsp;1, 2019, with
earlier application permitted. The amendments address the accounting for a plan amendment, curtailment or settlement that occurs within a reporting period. Updated actuarial assumptions must be used to determine current service cost and net interest
for the remainder of the reporting period after such an event.&nbsp;The amendments also address how the accounting for asset ceilings are affected by such an event.&nbsp;Adoption of these amendments is not expected to have a significant impact on
the Company&#146;s Consolidated Financial Statements. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(VII) Amendments to IFRS 3 &#147;Business Combinations&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Amendments to IFRS 3 &#147;Business Combinations&#148; were issued in October 2018 and are effective for business combinations occurring on or after January&nbsp;1, 2020,
with earlier application permitted. The amendments revise the definition of a business and provide a simplified assessment of whether an acquired set of activities and assets qualifies as a business. Application of the amendments are expected to
result in fewer acquisitions qualifying as business combinations. Adoption of these amendments is not expected to have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(VIII) Amendments to IAS 1 &#147;Presentation of Financial Statements&#148; and IAS 8 &#147;Accounting Policies, Changes in Accounting Estimates
and Errors&#148; </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Amendments to IAS 1 &#147;Presentation of Financial Statements&#148; and IAS 8 &#147;Accounting Policies, Changes in Accounting Estimates
and Errors&#148; were issued in October 2018. The amendments are effective for annual periods beginning on or after January&nbsp;1, 2020 and are to be applied prospectively. The amendments update the definition of material. Adoption of these
amendments is not expected to have a significant impact on the Company&#146;s Consolidated Financial Statements. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(IX) IFRS 17
&#147;Insurance Contracts&#148; </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 17 was issued in May 2017 and is effective for years beginning on January&nbsp;1, 2021, to be applied
retrospectively. If full retrospective application to a group of contracts is impractical, the modified retrospective or fair value methods may be used. The standard will replace IFRS 4 &#147;Insurance Contracts&#148; and will materially change the
recognition and measurement of insurance contracts and the corresponding presentation and disclosures in the Company&#146;s Financial Statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In November 2018,
the IASB tentatively decided to defer the effective date of IFRS 17 by one year. The proposed deferral is subject to IASB public consultation in 2019 which is expected to result in an exposure draft followed by a public comment period. The Company
will continue to monitor IASB&#146;s future developments related to IFRS 17. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 17 requires entities to measure insurance contract liabilities on the balance sheet
as the total of (a)&nbsp;the fulfillment cash flows &#150; the current estimates of amounts that the Company expects to collect from premiums and pay out for claims, benefits and expenses, including an adjustment for the timing and risk for those
amounts; and (b)&nbsp;the contractual service margin &#150; the future profit for providing insurance coverage. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The principles underlying IFRS 17 differ from the
CALM as permitted by IFRS&nbsp;4.&nbsp;While there are many differences, the following outlines two of the key differences: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Under IFRS 17 the discount rate used to estimate the present value of insurance liabilities is based on the characteristics
of the liability, whereas under CALM, the Company uses the rates of returns for current and projected assets supporting policy liabilities to value the liabilities. The difference in the discount rate approach also impacts the timing of
investment-related experience earnings emergence. Under CALM, investment-related experience includes investment experience and the impact of investing activities. The impact of investing activities is directly related to the CALM methodology. Under
IFRS 17 the impact of investing activities will emerge over the life of the new asset. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>117</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Under IFRS 17 new business gains are recorded on the Consolidated Statements of Financial Position and amortized into income
as services are provided.&nbsp;Under CALM new business gains (and losses) are recognized in income immediately. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company is assessing the
implications of this standard and expects that it will have a significant impact on the Company&#146;s Consolidated Financial Statements. In addition, in certain jurisdictions, including Canada, it could have a material effect on tax and regulatory
capital positions and other financial metrics that are dependent upon IFRS accounting values. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_3"></A>Note
3&nbsp;&nbsp;&nbsp;&nbsp;Invested Assets and Investment Income </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Carrying values and fair values of invested assets
</B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="57%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">FVTPL<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">AFS<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Other<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total&nbsp;carrying<BR>value<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total fair<BR>value<SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash and short-term securities<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,080</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,163</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,972</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,215</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,215</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities<SUP STYLE="font-size:85%; vertical-align:top">(7)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canadian government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,445</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,342</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>23,787</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>23,787</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,934</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,990</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>25,924</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>25,924</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,159</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,101</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>20,260</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>20,260</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Corporate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>107,425</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,245</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;112,670</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>112,670</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,774</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>179</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,953</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,953</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,721</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,458</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,179</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,179</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48,363</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48,363</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48,628</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35,754</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35,754</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>36,103</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policy loans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,446</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,446</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,446</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loans to Bank clients</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,793</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,793</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,797</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Own use property<SUP STYLE="font-size:85%; vertical-align:top">(8)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,016</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,016</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,179</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Investment property</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,761</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,761</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,761</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Alternative long-duration assets<SUP STYLE="font-size:85%; vertical-align:top">(9),(10)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14,720</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>101</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,617</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>23,438</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>24,211</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Various other<SUP STYLE="font-size:85%; vertical-align:top">
(11)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>151</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,954</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,105</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,104</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total invested assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;187,409</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;43,579</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;122,676</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>353,664</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;356,217</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">FVTPL<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">AFS<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Other<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Total&nbsp;carrying<BR>value</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR>&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Total fair<BR>value<SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash and short-term securities<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">439</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">11,429</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,097</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15,965</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15,965</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities<SUP STYLE="font-size:85%; vertical-align:top">(7)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canadian government and agency</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,886</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,892</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,778</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,778</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. government and agency</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,497</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,472</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25,969</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25,969</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other government and agency</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,838</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,988</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,826</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,826</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Corporate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96,785</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,366</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102,151</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102,151</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,018</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">258</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,276</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,276</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,473</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,072</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46,065</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34,581</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policy loans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,808</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,808</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,808</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loans to Bank clients</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,737</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,737</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Own use property<SUP STYLE="font-size:85%; vertical-align:top">(8)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,281</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,281</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,448</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Investment property</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,529</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,529</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,529</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other invested assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Alternative long-duration assets<SUP STYLE="font-size:85%; vertical-align:top">(9),(10)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,018</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,624</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,730</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,053</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Various other<SUP STYLE="font-size:85%; vertical-align:top">
(11)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">142</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,611</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,753</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,752</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total invested assets</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">178,096</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">41,565</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">114,561</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">334,222</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">339,488</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">FVTPL classification was elected for securities backing insurance contract liabilities to substantially reduce any
accounting mismatch arising from changes in the fair value of these assets and changes in the value of the related insurance contract liabilities. If this election had not been made and instead the AFS classification was selected, there would be an
accounting mismatch because changes in insurance contract liabilities are recognized in net income rather than in OCI. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Securities that are designated as AFS are not actively traded by the Company but sales do occur as circumstances warrant.
Such sales result in a reclassification of any accumulated unrealized gain (loss) in AOCI to net income as a realized gain (loss). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Primarily includes assets classified as loans and carried at amortized cost, own use properties, investment properties,
equity method accounted investments, oil and gas investments, and leveraged leases. Refer to note 1(e) for further details regarding accounting policy. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Fixed income invested assets presented above include debt securities, mortgages, private placements and approximately $600
other invested assets, which primarily have contractual cash flows that qualify as SPPI. Fixed income invested assets which do not have SPPI qualifying cash flows as at December&nbsp;31, 2018 include debt securities, private placements and other
invested assets with fair values of $105, $230 and $465, respectively. The change in the fair value of these invested assets during the year amounts to $21. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The methodologies used in determining fair values of invested assets are described in note 1(c) and note 3(g).
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes short-term securities with maturities of less than one year at acquisition amounting to $2,530 (2017 &#150;
$2,737), cash equivalents with maturities of less than 90 days at acquisition amounting to $8,713 (2017 &#150; $9,131) and cash of $4,972 (2017 &#150; $4,097). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(7)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Debt securities include securities which were acquired with maturities of less than one year and less than 90 days of $870
and $40, respectively (2017 &#150; $1,768 and $161, respectively). </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>118</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(8)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes accumulated depreciation of $391 (2017 &#150; $389). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(9)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Alternative long-duration assets (&#147;ALDA&#148;) include investments in private equity of $6,769, power and
infrastructure of $7,970, oil and gas of $3,416, timber and agriculture of $4,493 and various other invested assets of $791 (2017 &#150; $4,959, $7,355, $2,813, $5,033 and $570, respectively). Included in power and infrastructure are a group of
investments in hydro-electric power of $426 for which the Company has an approved plan of sale. Sale of these investments is expected to be completed within one year. This disposal group is classified as held for sale and measured at the lower of
carrying amount and fair value less costs to sell. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(10)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">During 2018, the Company sold the following invested assets to related parties: $1,422 of power and infrastructure ALDA to
the John Hancock Infrastructure Master Fund L.P. in the U.S. an associate of the Company which is a structured entity based on partnership voting rights, the Company provides management services to the fund and owns less than 1% of the ownership
interest; $510 (2017 &#150; $395) of U.S. commercial real estate to the Manulife US Real Estate Investment Trust in Singapore, an associate of the Company which is a structured entity based on unitholder voting rights, the Company provides
management services to the trust and owns approximately 8.5% (2017 &#150; 9.5%) of its units; and $1,314 of U.S. commercial real estate to three newly established joint ventures which are structured entities based on voting rights. During 2017, $619
of U.S. commercial real estate was sold to the Hancock US Real Estate Fund, L.P., an associate of the Company which is a structured entity based on partnership voting rights. The Company provides management services to the fund and owns
approximately 11.7% of its partnership interests. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(11)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes $3,575 (2017 &#150; $3,273) of leveraged leases. Refer to note 1(e) regarding accounting policy.
</P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Equity method accounted invested assets </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other invested assets include investments in associates and joint ventures which are accounted for using the equity method of accounting as presented in the following
table. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Carrying<BR>value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">% of total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Carrying<BR>value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">% of total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Leveraged leases</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;3,575</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>51</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;3,273</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Timber and agriculture</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>599</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">451</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>725</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">498</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,959</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>29</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,535</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,858</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">5,757</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s share of profit and dividends from these investments for the year ended December&nbsp;31, 2018 were $369 and $13,
respectively (2017 &#150; $291 and $14, respectively). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>119</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

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<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Investment income </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="67%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">FVTPL</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">AFS</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Other<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash and short-term securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>268</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(74</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>62</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(12</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;5,432</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>646</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,078</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(5,993</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(310</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(6,303</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Recovery (impairment loss), net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Dividend income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>484</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>72</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>556</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,596</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>330</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,266</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impairment loss</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(43</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(43</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,824</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,824</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>56</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>56</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Provision, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,729</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,729</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(83</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(83</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impairment loss, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policy loans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>371</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>371</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loans to Bank clients</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>81</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>81</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Provision, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Rental income, net of depreciation<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>515</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>515</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>445</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>445</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impairment loss</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivatives</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>689</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(33</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>656</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,251</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,224</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>74</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>74</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Oil and gas, timber, agriculture and other income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,758</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,758</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>283</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(110</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>173</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impairment loss, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(114</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(120</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total investment income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,992</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,003</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,521</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,532</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,139</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>896</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,046</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,081</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Dividend, rental and other income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>484</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>72</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,273</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,829</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impairments, provisions and recoveries, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(47</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(133</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(164</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(271</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>58</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(186</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,368</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>979</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,213</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,560</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and
on macro equity hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(6,012</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(5,994</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,454</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,444</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>55</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>55</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(83</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(83</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>449</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>449</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>357</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(140</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>213</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Derivatives, including macro equity hedging program</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,251</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,224</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9,360</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>24</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>308</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(9,028</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total investment income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,992</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,003</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;6,521</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,532</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>120</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

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<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD>
<TD></TD>
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<TD></TD>
<TD></TD>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">FVTPL</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">AFS</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Other<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash and short-term securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">153</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">160</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(47</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(25</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">577</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,679</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,690</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(205</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,485</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Recovery (impairment loss), net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Dividend income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">524</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">603</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,372</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">226</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,598</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impairment loss</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,685</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,685</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Provision, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(32</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(32</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,553</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,553</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impairment loss, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policy loans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">365</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">365</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loans to Bank clients</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Rental income, net of depreciation<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">517</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">517</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">341</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">341</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impairment loss</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivatives</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">809</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">893</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,029</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(945</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other invested assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">174</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">174</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Oil and gas, timber, agriculture and other income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,690</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,690</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gains (losses)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">441</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">484</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impairment loss, net</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(45</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(45</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total investment income</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">11,954</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">761</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">6,652</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">19,367</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">5,918</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">730</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,929</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">10,577</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Dividend, rental and other income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">524</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,207</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,810</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impairments, provisions and recoveries, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(71</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(70</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">460</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(51</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(77</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">332</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">6,918</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">743</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,988</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">13,649</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and
on macro equity hedges</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,694</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,686</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,235</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">350</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">350</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other invested assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">329</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">441</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Derivatives, including macro equity hedging program</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,187</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,103</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,036</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">664</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,718</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total investment income</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">11,954</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">761</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">6,652</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">19,367</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Primarily includes investment income on loans carried at amortized cost, own use properties, investment properties,
derivative and hedging instruments in cash flow hedging relationships, equity method accounted investments, oil and gas investments, and leveraged leases. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes net realized and unrealized gains (losses) for financial instruments at FVTPL, real estate investment properties,
and other invested assets measured at fair value. Also includes net realized gains (losses) for financial instruments at AFS and other invested assets carried at amortized cost. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Rental income from investment properties is net of direct operating expenses. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>121</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(d) Investment expenses </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents the Company&#146;s total investment expenses. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="83%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Related to invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>638</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">625</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Related to segregated, mutual and other funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,070</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,048</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total investment expenses</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,708</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;1,673</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(e) Investment properties </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents the rental income and direct operating expenses of investment properties. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="83%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Rental income from investment properties</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,013</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;1,120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Direct operating expenses of rental investment properties</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(582</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(694</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>431</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">426</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(f) Mortgage securitization </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company securitizes certain insured and uninsured fixed and variable rate residential mortgages and Home Equity Lines of Credit (&#147;HELOC&#148;) through creation
of mortgage-backed securities under the Canadian Mortgage Bond Program (&#147;CMB&#148;), and the HELOC securitization program. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Benefits received from the
securitization include interest spread between the asset and associated liability. There are no expected credit losses on securitized mortgages under the Canada Mortgage and Housing Corporation (&#147;CMHC&#148;) sponsored CMB and the Platinum
Canadian Mortgage Trust (&#147;PCMT&#148;) HELOC securitization programs as they are insured by CMHC and other third-party insurance programs against borrowers&#146; default. Mortgages securitized in the Platinum Canadian Mortgage Trust II
(&#147;PCMT II&#148;) program are uninsured. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Cash flows received from the underlying securitized assets/mortgages are used to settle the related secured borrowing
liability. For CMB transactions, receipts of principal are deposited into a trust account for settlement of the liability at time of maturity. These transferred assets and related cash flows cannot be transferred or used for other purposes. For the
HELOC transactions, investors are entitled to periodic interest payments, and the remaining cash receipts of principal are allocated to the Company (the &#147;Seller&#148;) during the revolving period of the deal and are accumulated for settlement
during an accumulation period or repaid to the investor monthly during a reduction period, based on the terms of the note. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Securitized
assets and secured borrowing liabilities </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Securitized assets</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">Securitization program</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Securitized<BR>mortgages</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Restricted cash and<BR>short-term securities</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Secured borrowing<BR>liabilities<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">HELOC securitization<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,285</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,293</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;2,250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">CMB securitization</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,525</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,525</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,524</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,810</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;8</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,818</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;3,774</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="12"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" NOWRAP><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Securitized assets</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">Securitization program</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Securitized<BR>mortgages</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Restricted cash and<BR>short-term securities</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Secured borrowing<BR>liabilities<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">HELOC securitization<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;2,024</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;2,032</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;2,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">CMB securitization</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,480</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,480</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,523</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">3,504</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">$&nbsp;&nbsp;8</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">3,512</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">$&nbsp;&nbsp;3,523</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Manulife Bank, a MFC subsidiary, securitizes a portion of its HELOC receivables through Platinum Canadian Mortgage Trust
(&#147;PCMT&#148;), and Platinum Canadian Mortgage Trust II (&#147;PCMT II&#148;). PCMT funds the purchase of the <FONT STYLE="white-space:nowrap">co-ownership</FONT> interests from Manulife Bank by issuing term notes collateralized by an underlying
pool of CMHC insured HELOCs to institutional investors. PCMT II funds the purchase of the <FONT STYLE="white-space:nowrap">co-ownership</FONT> interests from Manulife Bank by issuing term notes collateralized by an underlying pool of uninsured
HELOCs to institutional investors. The restricted cash balance for the HELOC securitization reflects a cash reserve fund established in relation to the transactions. The reserve will be drawn upon only in the event of insufficient cash flows from
the underlying HELOCs to satisfy the secured borrowing liability. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Secured borrowing liabilities primarily comprise of Series <FONT STYLE="white-space:nowrap">2011-1</FONT> notes with a
floating rate which are expected to mature on December&nbsp;15, 2021, and the Series <FONT STYLE="white-space:nowrap">2016-1</FONT> notes with a floating rate which are expected to mature on May&nbsp;15, 2022. Manulife Bank also securitizes insured
amortizing mortgages under the National Housing Act Mortgage-Backed Securities (&#147;NHA MBS&#148;) program sponsored by CMHC. Manulife Bank participates in CMB programs by selling NHA MBS securities to Canada Housing Trust (&#147;CHT&#148;), as a
source of fixed rate funding. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018, the fair value of the securitized assets was $3,843 (2017 &#150; $3,533) and the
associated liabilities was $3,756 (2017 &#150; $3,503). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>122</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(g) Fair value measurement </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents the fair values of invested assets and segregated funds net assets measured at fair value categorized by the fair value hierarchy. </P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="61%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total fair<BR>value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Level&nbsp;1</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Level&nbsp;2</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Level&nbsp;3</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash and short-term securities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">FVTPL</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,080</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,080</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">AFS</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,163</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,163</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,972</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,972</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Debt securities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.25em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><B>FVTPL</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canadian government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,445</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,445</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,934</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,934</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,159</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,979</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>180</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Corporate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>107,425</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>106,641</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>784</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Residential mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Commercial mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,344</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,344</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other securitized assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,417</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,417</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><B>AFS</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canadian government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,342</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,342</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,990</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,990</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,101</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,064</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Corporate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,245</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,125</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>120</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Residential mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Commercial mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>128</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>128</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other securitized assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>49</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>49</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Public equities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">FVTPL</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,721</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,718</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">AFS</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,458</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,456</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Real estate &#150; investment property<SUP STYLE="font-size:85%; vertical-align:top">(</SUP><SUP
STYLE="font-size:85%; vertical-align:top">1)</SUP></B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,761</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,761</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Other invested assets<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,562</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,562</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Segregated funds net assets<SUP
STYLE="font-size:85%; vertical-align:top">(3)</SUP></B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>276,178</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>32,584</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,447</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;562,520</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;300,324</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;228,293</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;33,903</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total fair<BR>value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Level&nbsp;1</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Level&nbsp;2</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Level&nbsp;3</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash and short-term securities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">FVTPL</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">439</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">439</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">AFS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,429</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,429</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,097</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,097</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Debt securities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.25em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><B>FVTPL</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canadian government and agency</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,886</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,886</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. government and agency</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,497</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,497</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other government and agency</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,838</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,599</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">239</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Corporate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96,785</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96,073</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">710</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Residential mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Commercial mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,099</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,099</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other securitized assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,911</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,886</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.25em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><B>AFS</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canadian government and agency</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,892</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,892</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. government and agency</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,472</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,472</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other government and agency</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,988</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,941</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Corporate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,366</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,278</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Residential mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Commercial mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">138</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">138</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other securitized assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Public equities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">FVTPL</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,473</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,470</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">AFS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,072</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,069</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Real estate &#150; investment
property<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,529</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,529</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Other invested assets<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,203</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,203</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Segregated funds net assets<SUP
STYLE="font-size:85%; vertical-align:top">(</SUP><SUP STYLE="font-size:85%; vertical-align:top">3)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">286,490</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">33,562</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,255</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;564,549</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;312,128</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;218,320</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;34,101</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">For investment properties, the significant unobservable inputs are capitalization rates (ranging from 2.75% to 8.75%
during the year and ranging from 3.50% to 9.00% during 2017) and terminal capitalization rates (ranging from 3.65% to 9.25% during the year and ranging from 4.0% to 9.25% during 2017). Holding other factors constant, a lower capitalization or
terminal capitalization rate will tend to increase the fair value of an investment property. Changes in fair value based on variations in unobservable inputs generally cannot be extrapolated because the relationship between the directional changes
of each input is not usually linear. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>123</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Other invested assets measured at fair value are held primarily in power and infrastructure and timber sectors. The
significant inputs used in the valuation of the Company&#146;s power and infrastructure investments are primarily future distributable cash flows, terminal values and discount rates. Holding other factors constant, an increase to future
distributable cash flows or terminal values would tend to increase the fair value of a power and infrastructure investment, while an increase in the discount rate would have the opposite effect. Discount rates during the year ranged from 8.95% to
16.5% (2017 &#150; ranged from 9.20% to 16.5%). Disclosure of distributable cash flow and terminal value ranges are not meaningful given the disparity in estimates by project. The significant inputs used in the valuation of the Company&#146;s
investments in timberland are timber prices and discount rates. Holding other factors constant, an increase to timber prices would tend to increase the fair value of a timberland investment, while an increase in the discount rates would have the
opposite effect. Discount rates during the year ranged from 5.0% to 7.0% (2017 &#150; ranged from 5.0% to 7.5%). A range of prices for timber is not meaningful as the market price depends on factors such as property location and proximity to markets
and export yards. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Segregated funds net assets are measured at fair value. The Company&#146;s Level&nbsp;3 segregated funds assets are
predominantly invested in investment properties and timberland properties valued as described above. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Fair value and the fair value hierarchy of
invested assets not measured at fair value. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Carrying<BR>value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Level&nbsp;1</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Level&nbsp;2</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Level&nbsp;3</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48,363</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48,628</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48,628</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35,754</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>36,103</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>30,325</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,778</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policy loans<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,446</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,446</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,446</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loans to Bank clients<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,793</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,797</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,797</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate &#150; own use property<SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,016</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,179</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,179</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other invested
assets<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9,981</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,753</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>121</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,632</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total invested assets disclosed at fair value</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;104,353</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;106,906</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>121</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;38,568</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;68,217</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Carrying<BR>value</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR>&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Fair value</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Level&nbsp;1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Level&nbsp;2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Level&nbsp;3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">44,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">46,065</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">46,065</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34,581</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28,514</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,067</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policy loans<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,808</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,808</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,808</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loans to Bank clients<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,737</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate &#150; own use property<SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,281</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,448</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,448</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other invested
assets<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,280</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,602</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,514</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total invested assets disclosed at fair value</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;93,980</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;99,246</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;36,064</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;63,094</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Fair value of commercial mortgages is determined through an internal valuation methodology using both observable and
unobservable inputs. Unobservable inputs include credit assumptions and liquidity spread adjustments. Fair value of fixed-rate residential mortgages is determined using the discounted cash flow method. Inputs used for valuation are primarily
comprised of prevailing interest rates and prepayment rates, if applicable. Fair value of variable-rate residential mortgages is assumed to be their carrying value. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Fair value of private placements is determined through an internal valuation methodology using both observable and
unobservable inputs. Unobservable inputs include credit assumptions and liquidity spread adjustments. Private placements are classified within Level&nbsp;2 unless the liquidity adjustment constitutes a significant price impact, in which case the
securities are classified as Level&nbsp;3. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Fair value of policy loans is equal to their unpaid principal balances. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Fair value of fixed-rate loans to Bank clients is determined using the discounted cash flow method. Inputs used for
valuation are primarily comprised of current interest rates. Fair value of variable-rate loans is assumed to be their carrying value. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Fair value of own use real estate and the fair value hierarchy are determined in accordance with the methodologies
described for real estate &#150; investment property in note&nbsp;1. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Primarily include leveraged leases, oil and gas properties and equity method accounted other invested assets. Fair value
of leveraged leases is disclosed at their carrying values as fair value is not routinely calculated on these investments. Fair value for oil and gas properties is determined using external appraisals based on discounted cash flow methodology. Inputs
used in valuation are primarily comprised of forecasted price curves, planned production, as well as capital expenditures, and operating costs. Fair value of equity method accounted other invested assets is determined using a variety of valuation
techniques including discounted cash flows and market comparable approaches. Inputs vary based on the specific investment. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Transfers between Level&nbsp;1 and Level&nbsp;2 </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company records transfers of assets and liabilities between Level&nbsp;1 and Level&nbsp;2 at their fair values as at the end of each reporting period. Assets are
transferred out of Level&nbsp;1 when they are no longer transacted with sufficient frequency and volume in an active market. Conversely, assets are transferred from Level&nbsp;2 to Level&nbsp;1 when transaction volume and frequency are indicative of
an active market. The Company had $nil of assets transferred between Level&nbsp;1 and Level&nbsp;2 during the years ended December&nbsp;31,&nbsp;2018 and 2017. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">For
segregated funds net assets, the Company had $nil transfers from Level&nbsp;1 to Level&nbsp;2 for the year ended December&nbsp;31, 2018 (2017&nbsp;&#150; $nil). The Company had $2 transfers from Level&nbsp;2 to Level&nbsp;1 for the year ended
December&nbsp;31, 2018 (2017 &#150; $5). </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Invested assets and segregated funds net assets measured at fair value using significant
unobservable inputs (Level 3) </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company classifies fair values of invested assets and segregated funds net assets as Level&nbsp;3 if there are no
observable markets for these assets or, in the absence of active markets, most of the inputs used to determine fair value are based on the Company&#146;s own assumptions about market participant assumptions. The Company prioritizes the use of
market-based inputs over entity-based assumptions in determining Level&nbsp;3 fair values. The gains and losses in the tables below include the changes in fair value due to both observable and unobservable factors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>124</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following tables present a roll forward for invested assets and segregated funds net assets measured at fair value
using significant unobservable inputs (Level 3) for the years ended December&nbsp;31, 2018 and 2017. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended<BR>December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Balance,<BR>January&nbsp;1,<BR>2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Net<BR>realized/<BR>unrealized<BR>gains<BR>(losses)<BR>included<BR>in
net<BR>income<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Net<BR>realized/<BR>unrealized<BR>gains<BR>(losses)<BR>included<BR>in AOCI<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Purchases</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Sales</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Settlements</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Transfer</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">into</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Level&nbsp;3<SUP
STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Transfer</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">out of</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Level&nbsp;3<SUP
STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Currency<BR>movement</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>Balance,<BR>December&nbsp;31,<BR>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Change in<BR>unrealized<BR>gains<BR>(losses) on<BR>assets still<BR>held</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Debt securities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>FVTPL</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other government&nbsp;&amp; agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>239</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(85</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>180</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Corporate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>710</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>190</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(61</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(93</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>53</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>784</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Residential mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other securitized assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>25</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(56</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>975</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>248</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(146</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(32</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(149</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>68</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>971</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(7</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>AFS</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other government&nbsp;&amp; agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>47</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(15</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Corporate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>88</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>49</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(12</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>120</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Residential mortgage/asset-backed securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other securitized assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>136</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>55</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(27</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(8</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(8</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>159</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Public equities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">FVTPL</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Real estate &#150; investment property</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12,529</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>291</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>615</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,578</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(706</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>610</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,761</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>244</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Other invested assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>16,203</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(1,168</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,926</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,636</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(841</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(35</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,112</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>17,562</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(434</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>28,732</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(877</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,541</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(4,214</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(841</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(741</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,722</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>28,323</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(190</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Segregated funds net assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,255</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>226</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>155</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(367</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(17</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>191</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,447</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>161</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;34,101</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(644</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;4,999</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(4,754</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(880</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(915</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,991</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;33,903</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;(36</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>125</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Balance,<BR>January&nbsp;1,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Net<BR>realized/<BR>unrealized<BR>gains<BR>(losses)<BR>included<BR>in net<BR>income<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Net<BR>realized/<BR>unrealized<BR>gains<BR>(losses)<BR>included<BR>in AOCI<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
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<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:ARIAL" ALIGN="right">Transfer</P>
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<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Currency<BR>movement</TD>
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<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Balance,<BR>December&nbsp;31,<BR>2017</TD>
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<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Change in<BR>unrealized<BR>gains<BR>(losses) on<BR>assets still<BR>held</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7.5pt">
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:ARIAL">Other government&nbsp;&amp; agency</P></TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:ARIAL">Commercial mortgage/asset-backed securities</P></TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">25</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">966</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">15</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">131</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">24</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">975</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5</TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:ARIAL">Other securitized assets</P></TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">130</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">36</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">136</TD>
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<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:ARIAL"><B>Public equities</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7.5pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:ARIAL">FVTPL</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">7</TD>
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<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(4</TD>
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<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
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<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
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<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
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<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3</TD>
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<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
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<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7.5pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">7</TD>
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<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
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<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
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<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(4</TD>
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<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
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<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:ARIAL"><B>Real estate &#150; investment property</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,756</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">301</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,257</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,267</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(518</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,529</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">264</TD>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7.5pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:ARIAL"><B>Other invested assets</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">14,849</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">395</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,022</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(435</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(837</TD>
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<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(791</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">16,203</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">244</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7.5pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">27,605</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">696</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,279</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,702</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(837</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,309</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">28,732</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">508</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7.5pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:ARIAL"><B>Segregated funds net assets</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,574</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">261</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(248</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(54</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(184</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(154</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,255</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">45</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7.5pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;33,282</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;770</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;4,707</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(2,077</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(942</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;25</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(205</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(1,460</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;34,101</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;558</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">These amounts are included in net investment income on the Consolidated Statements of Income except for the amount related
to segregated funds net assets, where the amount is recorded in changes in segregated funds net assets, refer to note&nbsp;22. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">These amounts are included in AOCI on the Consolidated Statements of Financial Position. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">For assets transferred into and out of Level&nbsp;3, the Company uses fair values of the assets at the beginning of the
year. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Transfers into Level&nbsp;3 primarily result from securities that were impaired during the year or securities where a lack of observable
market data (versus the previous period) resulted in reclassifying assets into Level&nbsp;3. Transfers from Level&nbsp;3 primarily result from observable market data now being available for the entire term structure of the debt security. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_4"></A>Note 4&nbsp;&nbsp;&nbsp;&nbsp;Derivative and Hedging Instruments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Derivatives are financial contracts, the value of which is derived from underlying interest rates, foreign exchange rates, other financial instruments, commodity prices
or indices. The Company uses derivatives including swaps, forward and futures agreements, and options to manage current and anticipated exposures to changes in interest rates, foreign exchange rates, commodity prices and equity market prices, and to
replicate permissible investments. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Swaps are <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> (&#147;OTC&#148;)
contractual agreements between the Company and a third party to exchange a series of cash flows based upon rates applied to a notional amount. For interest rate swaps, counterparties generally exchange fixed or floating interest rate payments based
on a notional value in a single currency. Cross currency swaps involve the exchange of principal amounts between parties as well as the exchange of interest payments in one currency for the receipt of interest payments in another currency. Total
return swaps are contracts that involve the exchange of payments based on changes in the values of a reference asset, including any returns such as interest earned on these assets, in return for amounts based on reference rates specified in the
contract. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Forward and futures agreements are contractual obligations to buy or sell a financial instrument, foreign currency or other underlying commodity on a
predetermined future date at a specified price. Forward contracts are OTC contracts negotiated between counterparties, whereas futures agreements are contracts with standard amounts and settlement dates that are traded on regulated exchanges. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Options are contractual agreements whereby the holder has the right, but not the obligation, to buy (call option) or sell (put option) a security, exchange rate, interest
rate, or other financial instrument at a predetermined price/rate within a specified time. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">See variable annuity dynamic hedging strategy in the &#147;Risk
Management&#148; section of the Company&#146;s 2018 MD&amp;A for an explanation of the Company&#146;s dynamic hedging strategy for its variable annuity product guarantees. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Fair value of derivatives </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The pricing
models used to value OTC derivatives are based on market standard valuation methodologies and the inputs to these models are consistent with what a market participant would use when pricing the instruments. Derivative valuations can be affected by
changes in interest rates, currency exchange rates, financial indices, credit spreads, default risk (including the counterparties to the contract), and market volatility. The significant inputs to the pricing models for most OTC derivatives are
inputs that are observable or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>126</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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<p Style='page-break-before:always'>
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can be corroborated by observable market data and are classified as Level&nbsp;2. Inputs that are observable generally include interest rates, foreign currency exchange rates and interest rate
curves. However, certain OTC derivatives may rely on inputs that are significant to the fair value that are not observable in the market or cannot be derived principally from, or corroborated by, observable market data and these derivatives are
classified as Level&nbsp;3. Inputs that are unobservable generally include broker quotes, volatilities and inputs that are outside of the observable portion of the interest rate curve or other relevant market measures. These unobservable inputs may
involve significant management judgment or estimation. Even though unobservable, these inputs are based on assumptions deemed appropriate given the circumstances and consistent with what market participants would use when pricing such instruments.
The Company&#146;s use of unobservable inputs is limited and the impact on derivative fair values does not represent a material amount as evidenced by the limited amount of Level&nbsp;3 derivatives. The credit risk of both the counterparty and the
Company are considered in determining the fair value for all OTC derivatives after considering the effects of netting agreements and collateral arrangements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The
following table presents gross notional amount and fair value of derivative instruments by the underlying risk exposure. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


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<TD WIDTH="80%"></TD>
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<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" COLSPAN="3"></TD>
<TD HEIGHT="5" COLSPAN="12" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="12"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-size:7pt" COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT STYLE="font-size:7pt"><B>2018</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT STYLE="font-size:7pt">2017</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="right" BGCOLOR="#dde0da">Notional<BR>amount</TD>
<TD VALIGN="bottom" ROWSPAN="2" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="right">Notional<BR>amount</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom"><FONT COLOR="#1f320c"><B>Type of hedge</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Instrument type</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" BGCOLOR="#dde0da">Assets</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" BGCOLOR="#dde0da">Liabilities</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right">Assets</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right">Liabilities</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-TOP:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Qualifying hedge accounting relationships</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-TOP:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-TOP:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-TOP:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fair&nbsp;value&nbsp;hedges</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate swaps</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>519</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">548</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign currency swaps</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>91</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash&nbsp;flow&nbsp;hedges</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign currency swaps</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,834</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>80</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>367</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,757</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">333</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forward contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>80</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">165</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>101</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">125</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net&nbsp;investment&nbsp;hedges</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign currency forwards</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,864</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>65</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total derivatives in qualifying hedge accounting
relationships</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,489</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>106</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>466</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,679</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">362</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Derivatives not designated in qualifying hedge</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>accounting relationships</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate swaps</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>300,704</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,204</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,675</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">246,270</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,984</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,251</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate futures</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14,297</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,551</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate options</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,736</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>314</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,093</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">312</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign currency swaps</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>23,156</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>747</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,341</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,321</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">494</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Currency rate futures</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,052</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,157</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forward contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>29,248</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>670</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>158</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,341</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">915</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,492</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>653</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>163</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,597</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">813</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Credit default swaps</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>652</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">606</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity futures</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,908</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">12,158</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total derivatives not designated in qualifying hedge
accounting relationships</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>410,245</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,597</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7,337</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">334,094</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">15,532</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">7,460</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total derivatives</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;414,734</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;13,703</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;7,803</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;336,773</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;15,569</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;7,822</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents fair values of derivative instruments by the remaining term to maturity. The fair values disclosed below do
not incorporate the impact of master netting agreements. Refer to note 9. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Remaining term to maturity</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Less&nbsp;than</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">1 year</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">1 to 3</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">3 to 5</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Over 5</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivative assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>649</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>671</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>795</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,588</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,703&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivative liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>359</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>229</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>227</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,988</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7,803&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT STYLE="font-size:7pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="13" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT STYLE="font-size:7pt">Remaining term to maturity</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT STYLE="font-size:7pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Less&nbsp;than<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">1 year</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1 to 3<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3 to 5<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Over 5<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Total&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivative assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">605</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;822</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;889</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;13,253</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;15,569&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivative liabilities</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">224</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">149</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">168</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">7,281</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">7,822&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>127</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents gross notional amount by the remaining term to maturity, total fair value (including
accrued interest), credit risk equivalent and risk-weighted amount by contract type. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Remaining term to maturity (notional amounts)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Under 1</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">year</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">1 to 5</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Over</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">5 years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Positive</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Negative</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Net</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Credit&nbsp;risk</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">equivalent<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Risk-&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">weighted&nbsp;&nbsp;&nbsp;&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">amount<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">OTC swap contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,495</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>22,568</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>121,817</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>147,880</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,750</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(6,477</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,273</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,301</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>787&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Cleared swap contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,723</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,140</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>131,480</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>153,343</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>95</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(96</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Forward contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,258</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14,300</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>648</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>25,206</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>637</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(126</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>511</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>259</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Futures</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14,297</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14,297</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Options purchased</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,166</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,981</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,589</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>11,736</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>317</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>317</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>376</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>58&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Subtotal</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>34,939</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>57,989</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>259,534</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>352,462</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12,799</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(6,699</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,100</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,936</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>882&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign exchange</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Swap contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,024</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,281</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,776</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>25,081</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>807</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,736</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(929</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,309</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>256&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Forward contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,926</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>60</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,986</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(106</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(52</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>108</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Futures</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,052</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,052</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Credit derivatives</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>143</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>509</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>652</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Swap contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,728</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>142</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,870</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>29</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(57</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(28</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>303</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>38&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Futures</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,908</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,908</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Options purchased</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,142</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,581</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>12,723</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>621</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(118</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>503</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,277</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>316&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Subtotal including accrued interest</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>65,862</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>71,562</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>277,310</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>414,734</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14,320</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(8,716</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,604</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,933</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,505&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Less accrued interest</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>617</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(913</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(296</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>65,862</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>71,562</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>277,310</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>414,734</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,703</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(7,803</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,900</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,933</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,505&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Remaining term to maturity (notional amounts)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Under 1</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">year</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">1 to 5</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Over</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">5 years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Positive</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Negative</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Net</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Credit&nbsp;risk</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">equivalent<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Risk-&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">weighted&nbsp;&nbsp;&nbsp;&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">amount<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">OTC swap contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">7,161</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19,141</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">112,412</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">138,714</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13,379</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(6,867</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,512</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,588</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">809&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Cleared swap contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,615</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,928</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93,561</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108,104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">245</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(206</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Forward contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,036</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,614</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">675</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,325</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">903</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(38</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">865</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">285</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Futures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,551</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,551</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Options purchased</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">816</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,856</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,421</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,093</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">312</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">312</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">471</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">61&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Subtotal</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,179</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46,539</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">212,069</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">285,787</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,839</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7,111</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,728</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,344</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">905&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign exchange</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Swap contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">999</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,481</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,682</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,162</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">510</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,483</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(973</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,874</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">200&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Forward contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,046</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,181</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(31</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(19</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Futures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,157</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,157</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Credit derivatives</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">568</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">606</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Swap contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,612</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">169</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,781</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">337</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Futures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,158</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,158</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Options purchased</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,693</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">6,148</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,941</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">769</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">759</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,606</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">305&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Subtotal including accrued interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53,882</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58,040</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">224,851</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">336,773</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,204</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8,649</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,555</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,262</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,457&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Less accrued interest</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">635</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(827</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(192</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;53,882</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;58,040</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;224,851</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;336,773</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;15,569</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(7,822</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;7,747</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;12,262</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,457&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Credit risk equivalent is the sum of replacement cost and the potential future credit exposure. Replacement cost
represents the current cost of replacing all contracts with a positive fair value. The amounts take into consideration legal contracts that permit offsetting of positions. The potential future credit exposure is calculated based on a formula
prescribed by OSFI. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Risk-weighted amount represents the credit risk equivalent, weighted according to the creditworthiness of the
counterparty, as prescribed by OSFI. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The total notional amount of $415&nbsp;billion (2017 &#150; $337 billion) includes $136&nbsp;billion (2017
&#150; $114 billion) related to derivatives utilized in the Company&#146;s variable annuity guarantee dynamic hedging and macro equity risk hedging programs. Due to the Company&#146;s variable annuity hedging practices, a large number of trades are
in offsetting positions, resulting in materially lower net fair value exposure to the Company than what the gross notional amount would suggest. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>128</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Fair value and the fair value hierarchy of derivative instruments </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="65%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Level&nbsp;1</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Level&nbsp;2</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Level&nbsp;3</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Derivative assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest rate contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12,155</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,537</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>618</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Foreign exchange contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>886</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>876</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>653</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>621</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Credit default swaps</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total derivative assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,703</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,043</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>660</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Derivative liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest rate contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,815</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,318</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>497</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Foreign exchange contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,814</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,813</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>174</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>118</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>56</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total derivative liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7,803</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7,249</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>554</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Level&nbsp;1</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Level&nbsp;2</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Level&nbsp;3</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Derivative assets</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest rate contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">14,199</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13,181</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,018</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Foreign exchange contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">527</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">527</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">829</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">768</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Credit default swaps</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total derivative assets</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;15,569</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;14,490</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,079</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Derivative liabilities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Interest rate contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,309</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,012</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">297</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Foreign exchange contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,490</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,490</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total derivative liabilities</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">7,822</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;7,512</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">310</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents a roll forward for net derivative contracts measured at fair value using significant unobservable inputs
(Level 3). </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance at the beginning of the year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>769</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">163</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net realized / unrealized gains (losses) included in:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Net income<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(666</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,082</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">OCI<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(48</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Purchases</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Settlements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(103</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Transfers</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Into Level&nbsp;3<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Out of Level&nbsp;3<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(13</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(363</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Currency movement</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>25</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(23</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance at the end of the year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>106</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">769</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Change in unrealized gains (losses) on instruments still
held</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(460</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">832</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">These amounts are included in investment income on the Consolidated Statements of Income. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">These amounts are included in AOCI on the Consolidated Statements of Financial Position. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">For derivatives transferred into and out of Level&nbsp;3, the Company uses the fair value of the items at the end and
beginning of the period, respectively. Transfers into Level&nbsp;3 occur when the inputs used to price the assets and liabilities lack observable market data (versus the previous year). Transfers out of Level&nbsp;3 occur when the inputs used to
price the assets and liabilities become available from observable market data. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Hedging relationships
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company uses derivatives for economic hedging purposes. In certain circumstances, these hedges also meet the requirements of hedge accounting. Risk
management strategies eligible for hedge accounting are designated as fair value hedges, cash flow hedges or net investment hedges, as described below. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Fair value hedges </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company uses interest rate swaps to manage its exposure to changes in the fair value of fixed rate financial
instruments due to changes in interest rates. The Company also uses cross currency swaps to manage its exposure to foreign exchange rate fluctuations, interest rate fluctuations, or both. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>129</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company recognizes gains and losses on derivatives and the related hedged items in fair value hedges in investment
income. These investment gains (losses) are shown in the following table. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="36%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Hedged items in qualifying</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">fair value hedging</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">relationships</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Gains&nbsp;(losses)<BR>recognized&nbsp;on<BR>derivatives</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Gains&nbsp;(losses)<BR>recognized&nbsp;for<BR>hedged&nbsp;items</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Ineffectiveness&nbsp;&nbsp;&nbsp;&nbsp;<BR>recognized
in&nbsp;&nbsp;&nbsp;&nbsp;<BR>investment&nbsp;&nbsp;&nbsp;&nbsp;<BR>income&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate swaps</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed rate assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed rate liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign currency swaps</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed rate assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(5</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;11</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Hedged items in qualifying</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">fair value hedging</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">relationships</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Gains&nbsp;(losses)<BR>recognized&nbsp;on<BR>derivatives</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Gains&nbsp;(losses)<BR>recognized&nbsp;for<BR>hedged&nbsp;items</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Ineffectiveness&nbsp;&nbsp;&nbsp;&nbsp;<BR>recognized in&nbsp;&nbsp;&nbsp;&nbsp;<BR>investment&nbsp;&nbsp;&nbsp;&nbsp;<BR>income&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate swaps</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed rate assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed rate liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign currency swaps</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed rate assets</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Cash flow hedges </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company uses interest rate swaps to hedge the variability in cash flows from variable rate financial instruments and forecasted transactions. The Company also uses
cross currency swaps and foreign currency forward contracts to hedge the variability from foreign currency financial instruments and foreign currency expenses. Total return swaps are used to hedge the variability in cash flows associated with
certain stock-based compensation awards. Inflation swaps are used to reduce inflation risk generated from inflation-indexed liabilities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The effects of derivatives
in cash flow hedging relationships on the Consolidated Statements of Income and the Consolidated Statements of Comprehensive Income are shown in the following table. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Hedged items in qualifying</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">cash flow hedging</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">relationships</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Gains (losses)<BR>deferred in<BR>AOCI on<BR>derivatives</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Gains (losses)<BR>reclassified<BR>from&nbsp;AOCI&nbsp;into<BR>investment<BR>income</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Ineffectiveness&nbsp;&nbsp;&nbsp;&nbsp;<BR>recognized
in&nbsp;&nbsp;&nbsp;&nbsp;<BR>investment&nbsp;&nbsp;&nbsp;&nbsp;<BR>income&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate swaps</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forecasted liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(20</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign currency swaps</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed rate assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Floating rate liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(36</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(62</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed rate liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>60</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>62</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forward contracts</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forecasted expenses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Stock-based compensation</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(21</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(5</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Hedged items in qualifying</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">cash flow hedging</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">relationships</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Gains (losses)<BR>deferred in<BR>AOCI on<BR>derivatives</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Gains (losses)<BR>reclassified<BR>from&nbsp;AOCI&nbsp;into<BR>investment<BR>income</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Ineffectiveness&nbsp;&nbsp;&nbsp;&nbsp;<BR>recognized in&nbsp;&nbsp;&nbsp;&nbsp;<BR>investment&nbsp;&nbsp;&nbsp;&nbsp;<BR>income&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate swaps</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forecasted liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign currency swaps</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed rate assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Floating rate liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed rate liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forward contracts</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forecasted expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">Stock-based compensation</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">163</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company anticipates that net losses of approximately $31 will be reclassified from AOCI to net income within the next 12 months. The
maximum time frame for which variable cash flows are hedged is 18 years. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Hedges of net investments in foreign operations </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company primarily uses forward currency contracts, cross currency swaps and <FONT STYLE="white-space:nowrap">non-functional</FONT> currency denominated debt to manage
its foreign currency exposures to net investments in foreign operations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>130</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The effects of net investment hedging relationships on the Consolidated Statements of Income and the Consolidated
Statements of Other Comprehensive Income are shown in the following table. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="89%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Gains&nbsp;(losses)<BR>deferred&nbsp;in&nbsp;AOCI<BR>on derivatives</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Gains&nbsp;(losses)<BR>reclassified&nbsp;from<BR>AOCI into<BR>investment&nbsp;income</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Ineffectiveness<BR>recognized in<BR>investment<BR>income</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-functional</FONT> currency denominated debt</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(469</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign currency forward</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(460</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Gains (losses)<BR>deferred in AOCI<BR>on derivatives</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Gains (losses)<BR>reclassified from<BR>AOCI into<BR>investment income</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Ineffectiveness<BR>recognized in<BR>investment<BR>income</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-functional</FONT> currency
denominated debt</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;355</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">355</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Derivatives not designated in qualifying hedge accounting relationships </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Derivatives used in portfolios supporting insurance contract liabilities are generally not designated in qualifying hedge accounting relationships because the change in
the value of the insurance contract liabilities economically hedged by these derivatives is also recorded through net income. Since changes in fair value of these derivatives and related hedged risks are recognized in investment income as they
occur, they generally offset the change in hedged risk to the extent the hedges are economically effective. Interest rate and cross currency swaps are used in the portfolios supporting insurance contract liabilities to manage duration and currency
risks. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Investment income on derivatives not designated in qualifying hedge accounting relationships </P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate swaps</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,894</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(927</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate futures</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(298</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">372</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest rate options</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(52</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(96</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign currency swaps</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(122</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">529</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Currency rate futures</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(92</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forward contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(355</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,231</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity futures</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,190</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity contracts</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(276</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">153</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Credit default swaps</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,258)</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(1,024</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(d) Embedded derivatives </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Certain insurance contracts contain features that are classified as embedded derivatives and are measured separately at FVTPL including reinsurance contracts related to
guaranteed minimum income benefits and contracts containing certain credit and interest rate features. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Certain reinsurance contracts related to guaranteed minimum
income benefits contain embedded derivatives requiring separate measurement at FVTPL as the financial component contained in the reinsurance contracts does not contain significant insurance risk. As at December&nbsp;31, 2018, reinsurance ceded
guaranteed minimum income benefits had a fair value of $1,148 (2017 &#150; $1,079) and reinsurance assumed guaranteed minimum income benefits had a fair value of $114 (2017 &#150; $100). Claims recovered under reinsurance ceded contracts offset
claims expenses and claims paid on the reinsurance assumed are reported as contract benefits. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s credit and interest rate embedded derivatives
promise to pay the returns on a portfolio of assets to the contract holder. These embedded derivatives contain a credit and interest rate risk that is a financial risk embedded in the underlying insurance contract. As at December&nbsp;31, 2018,
these embedded derivatives had a fair value of $53 (2017 &#150; $123). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other financial instruments classified as embedded derivatives but exempt from separate
measurement at fair value include variable universal life and variable life products, minimum guaranteed credited rates, no lapse guarantees, guaranteed annuitization options, CPI indexing of benefits, and segregated fund minimum guarantees other
than reinsurance ceded/assumed guaranteed minimum income benefits. These embedded derivatives are measured and reported within insurance contract liabilities and are exempt from separate fair value measurement as they contain insurance risk and/or
are closely related to the insurance host contract. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>131</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_5"></A>Note 5&nbsp;&nbsp;&nbsp;&nbsp;Income Taxes </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Components of the income tax expense (recovery) </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Income tax expenses (recovery) recognized in the Consolidated Statements of Income </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Current tax</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Current year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(327</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">608</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjustments to prior year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>29</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(38</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(298</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">570</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Deferred tax</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change related to temporary differences</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(803</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of U.S. Tax Reform</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(320</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">472</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income tax expense</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;632</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;239</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Income tax expenses (recovery) recognized in Other Comprehensive Income </P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Current income tax expense (recovery)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">116</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Deferred income tax expense (recovery)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(148</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">320</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income tax expense (recovery)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(146</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;436</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Income tax expenses (recovery) recognized directly in Equity </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Current income tax expense (recovery)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Deferred income tax expense (recovery)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(7</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income tax expense (recovery)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The effective income tax rate reflected in the Consolidated Statements of Income varies from the Canadian tax rate of 26.75&nbsp;per cent
for the year ended December&nbsp;31, 2018 (2017 &#150; 26.75 per cent) due to the following reasons. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Reconciliation of income tax expense
</B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income before income taxes</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;5,519</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;2,501</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income tax expense at Canadian statutory tax rate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,476</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">669</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Increase (decrease) in income taxes due to:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Tax-exempt</FONT> investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(200</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(242</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Differences in tax rate on income not subject to tax in Canada</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(391</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(551</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Adjustments to taxes related to prior years</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(71</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(182</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impact of U.S. Tax Reform</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(320</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">472</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other differences</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>138</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income tax expense</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>632</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">239</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Impact of U.S. Tax Reform </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">On December&nbsp;22, 2017, the U.S. government enacted new tax legislation effective January&nbsp;1, 2018.&nbsp;The legislation makes broad and complex changes to the
U.S. tax code and accordingly it will take time to assess and interpret the changes. In 2017, based on a preliminary understanding of the new legislation, the Company recorded a provisional charge of $1.8&nbsp;billion,
<FONT STYLE="white-space:nowrap">after-tax,</FONT> for the estimated impact of U.S. Tax Reform on policyholder liabilities and net deferred tax assets, including the reduction in the U.S. federal corporate income tax rate and the impact of specific
life insurance regulations which limits the deductibility of reserves for U.S. federal income tax purposes. In 2018, the Company finalized its estimate of U.S. Tax Reform and reported a gain of $124 including a $196 increase in insurance contract
liabilities. Refer to note 7(g) for the impact of U.S. Tax Reform on the Company&#146;s insurance contract liabilities. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Current tax
receivable and payable </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018, the Company had approximately $1,712 of tax receivable (2017 &#150; $778) and $118 of tax payable
(2017 &#150; $178). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>132</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Deferred tax assets and liabilities </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents the Company&#146;s deferred tax assets and liabilities. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December 31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Deferred tax assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,318</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,569</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Deferred tax liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,814</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,281</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net deferred tax assets (liabilities)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;2,504</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;3,288</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents significant components of the Company&#146;s deferred tax assets and liabilities. </P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Balance,<BR>January&nbsp;1,<BR>2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Recognized<BR>in Income<BR>Statement</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Recognized in<BR>Other<BR>Comprehensive<BR>Income</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Recognized<BR>in Equity</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Translation<BR>and Other</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Balance,<BR>December&nbsp;31,<BR>2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loss carry forwards</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>596</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>387</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>29</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,019</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Actuarial liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,878</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,697</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>282</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,466</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Pensions and post-employment benefits</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>208</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>242</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Tax credits</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>454</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(224</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>261</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Accrued interest</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,062</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>150</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(46</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(959</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Securities and other investments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3,807</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,234</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>136</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(253</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,689</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Sale of investments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(105</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(87</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Goodwill and intangible assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(825</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(40</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(847</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(50</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>157</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(12</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>97</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;3,288</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(930</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>148</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9)</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,504</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Balance,<BR>January&nbsp;1,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Recognized<BR>in Income<BR>Statement</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Recognized in<BR>Other<BR>Comprehensive<BR>Income</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Recognized<BR>in Equity</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Translation<BR>and Other</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Balance,<BR>December&nbsp;31,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loss carry forwards</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">942</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(311</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(38</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">596</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Actuarial liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,366</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,053</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(418</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,878</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Pensions and post-employment benefits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">352</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(87</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(54</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">208</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Tax credits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">875</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(369</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(52</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">454</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Accrued interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,396</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">284</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,062</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Securities and other investments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6,064</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,172</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(239</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">324</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,807</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Sale of investments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(163</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(105</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Goodwill and intangible assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,059</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">197</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(825</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">210</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(548</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">287</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(50</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">3,080</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">331</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(320</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;195</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;3,288</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The total deferred tax assets as at December&nbsp;31, 2018 of $4,318 (2017 &#150; $4,569) include $3,508 (2017 &#150; $4,527) where the
Company has suffered losses in either the current or preceding year and where the recognition is dependent on future taxable profits in the relevant jurisdictions and feasible management actions. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018, tax loss carryforwards available were approximately $4,838 (2017 &#150; $3,164) of which $4,713 expire between the years 2020 and 2038 while
$125 have no expiry date, and capital loss carryforwards available were approximately $20 (2017 &#150; $8) and have no expiry date. A $1,019 (2017 &#150; $596) tax benefit related to these tax loss carryforwards has been recognized as a deferred tax
asset as at December&nbsp;31, 2018, and a benefit of $121 (2017 &#150; $171) has not been recognized. In addition, the Company has approximately $426 (2017 &#150; $606) of tax credit carryforwards which will expire between the years 2030 and 2038 of
which a benefit of $165 (2017 &#150; $152) has not been recognized. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The total deferred tax liability as at December&nbsp;31, 2018 was $1,814 (2017 &#150; $1,281).
This amount includes the deferred tax liability of consolidated entities. The aggregate amount of taxable temporary differences associated with the Company&#146;s own investments in subsidiaries is not included in the Consolidated Financial
Statements and was $16,570 (2017 &#150; $11,780). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>133</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_6"></A>Note 6&nbsp;&nbsp;&nbsp;&nbsp;Goodwill and Intangible Assets
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Carrying amounts of goodwill and intangible assets </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Balance,<BR>January&nbsp;1,<BR>2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Additions/<BR>disposals<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Amortization<BR>expense</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Effect&nbsp;of&nbsp;changes<BR>in foreign<BR>exchange rates</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Balance,<BR>December&nbsp;31,<BR>2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Goodwill</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,713</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(65</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B> n/a</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>216</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,864</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Indefinite life intangible assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Brand</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>753</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>66</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>819</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Fund management contracts and other<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>755</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>40</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>798</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,508</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>106</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,617</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Finite life intangible assets<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Distribution networks</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>989</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(133</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>60</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>868</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Customer relationships</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>899</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>55</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>860</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Software</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>661</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>275</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>147</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>821</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>70</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>67</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,619</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>142</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>255</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>110</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,616</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total intangible assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,127</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>145</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>255</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>216</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,233</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total goodwill and intangible assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9,840</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>80</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;255</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>432</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;10,097</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Balance,<BR>January&nbsp;1,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Additions/<BR>disposals</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Amortization<BR>expense</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Effect of changes<BR>in foreign<BR>exchange rates</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Balance,<BR>December&nbsp;31,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Goodwill</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,884</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"> n/a</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;(171</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,713</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Indefinite life intangible assets</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Brand</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">805</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(52</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">753</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Fund management contracts and other<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">785</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(30</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">755</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,590</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(82</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,508</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Finite life intangible assets<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Distribution networks</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,093</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(57</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">989</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Customer relationships</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">969</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">899</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Software</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">494</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">303</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">661</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,633</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">303</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">229</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(88</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,619</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total intangible assets</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,223</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">303</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">229</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(170</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,127</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total goodwill and intangible assets</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;10,107</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">303</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">229</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(341</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">9,840</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">For fund management contracts, the significant CGUs to which these were allocated and their associated carrying values
were U.S. WAM with $400 (2017 &#150; $367) and Canada WAM with $273 (2017 &#150; $273). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Gross carrying amount of finite life intangible assets was $1,331 for distribution networks, $1,145 for customer
relationships, $2,110 for software and $133 for other (2017 &#150; $1,294, $1,128, $1,841 and $126, respectively). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In 2018, disposals include $65 of goodwill and $96 of distribution networks from the sale of the U.S. broker-dealer
business, and impairments of distribution networks for discontinued products of $27 in U.S. segment and $13 in Asia segment. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>(b) Goodwill impairment testing </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the fourth quarter of 2018, the Company completed its annual goodwill impairment testing by
determining the recoverable amounts of its businesses using valuation techniques discussed below or based on the most recent detailed similar calculations made in a prior period (refer to notes 1(f) and 6(c)). The Company has determined that there
was no impairment of goodwill in 2018 and 2017. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>134</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company made organizational changes to drive better alignment with strategic
priorities and increase focus and leverage scale in its wealth management business. As a result of this reorganization, which included recognition of the Company&#146;s wealth and asset management businesses (Global WAM) as a primary reporting
segment (note&nbsp;19), the Company has modified the level at which goodwill is tested for impairment purposes. The modification includes (a) the allocation of existing goodwill to the relevant CGUs or group of CGUs within the Global WAM segment
that had previously been combined within respective regional insurance businesses and (b) the amalgamation of the remaining Canadian-based goodwill (including Individual Life, Affinity Markets, Individual Annuities, Group Benefits and International
Group Program) under the Canadian Insurance reporting segment. These reorganization-based changes have resulted in goodwill being allocated to CGUs or groups of CGUs based on the lowest level within the Company in which goodwill is monitored for
internal management purposes. The prior period amounts have been restated to reflect the reorganized CGUs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following tables present the carrying value of
goodwill by CGU or group of CGUs. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="65%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">CGU or group of CGUs</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Balance,<BR>January&nbsp;1,<BR>2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Additions/<BR>disposals</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Effect&nbsp;of<BR>changes in<BR>foreign<BR>exchange<BR>rates</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Balance,<BR>December&nbsp;31,<BR>2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Asia</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Asia Insurance (excluding Japan)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>154</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>165</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Japan Insurance</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>391</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>44</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>435</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canada Insurance</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,954</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,962</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S. Insurance</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>400</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(65</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>367</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Global Wealth and Asset Managment</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Asia WAM</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>180</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>196</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canada WAM</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,436</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,436</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. WAM</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,198</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>105</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,303</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,713</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(65</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>216</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,864</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">CGU or group of CGUs</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Balance,<BR>January&nbsp;1,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Additions/<BR>disposals</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Effect of<BR>changes&nbsp;in<BR>foreign<BR>exchange<BR>rates</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Balance,<BR>December&nbsp;31,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Asia</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Asia Insurance (excluding Japan)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">160</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">154</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Japan Insurance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">403</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">391</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canada Insurance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,960</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,954</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S. Insurance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">428</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">400</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Global Wealth and Asset Managment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Asia WAM</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">194</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canada WAM</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,436</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,436</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. WAM</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,303</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(105</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,198</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;5,884</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(171</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;5,713</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The valuation techniques, significant assumptions and sensitivities, where applicable, applied in the goodwill impairment testing are
described below. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Valuation techniques </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The recoverable amounts were based on fair value less costs to sell (&#147;FVLCS&#148;) for Asia Insurance (excluding Japan), Asia WAM and for certain CGUs within Canada
Insurance and U.S. WAM CGU groups. For other CGUs, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">value-in-use</FONT></FONT> (&#147;VIU&#148;) was used. When determining if a CGU is impaired, the Company compares its recoverable
amount to the allocated capital for that unit, which is aligned with the Company&#146;s internal reporting practices. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Under the FVLCS approach, the Company
determines the fair value of the CGU or group of CGUs using an earnings-based approach which incorporates forecasted earnings, excluding interest and equity market impacts and normalized new business expenses multiplied by an earnings-multiple
derived from the observable <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">price-to-earnings</FONT></FONT> multiples of comparable financial institutions. The
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">price-to-earnings</FONT></FONT> multiples used by the Company for testing ranged from 9.0 to 11.7 (2017 &#150; 10.6 to 14.8). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Under the VIU approach, used for CGUs with insurance business, an embedded appraisal value is determined from a projection of future distributable earnings derived from
both the <FONT STYLE="white-space:nowrap">in-force</FONT> business and new business expected to be sold in the future, and therefore, reflects the economic value for each CGU&#146;s or group of CGUs&#146; profit potential under a set of assumptions.
This approach requires assumptions including sales and revenue growth rates, capital requirements, interest rates, equity returns, mortality, morbidity, policyholder behaviour, tax rates and discount rates. For
<FONT STYLE="white-space:nowrap">non-insurance</FONT> CGUs, the VIU is based on discounted cash flow analysis which incorporates relevant aspects of the embedded appraisal value approach. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>135</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(d) Significant assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">To calculate embedded value, the Company discounted projected earnings from <FONT STYLE="white-space:nowrap">in-force</FONT> contracts and valued 10 years of new business
growing at expected plan levels, consistent with the periods used for forecasting long-term businesses such as insurance. In&nbsp;arriving at its projections, the Company considered past-experience, economic trends such as interest rates, equity
returns and product mix as well as industry and market trends. Where growth rate assumptions for new business cash flows were used in the embedded value calculations, they ranged from zero per cent to 17&nbsp;per cent (2017 &#150; negative five per
cent to 17 per cent). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Interest rate assumptions are based on prevailing market rates at the valuation date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Tax rates applied to the projections include the impact of internal reinsurance treaties and amounted to 30.8 per cent, 26.8 per cent and 21 per cent (2017 &#150; 30.8
per cent, 26.8&nbsp;per cent and 35 per cent) for the Japan, Canadian and U.S. jurisdictions, respectively. Tax assumptions are sensitive to changes in tax laws as well as assumptions about the jurisdictions in which profits are earned. It is
possible that actual tax rates could differ from those assumed. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Discount rates assumed in determining the <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">value-in-use</FONT></FONT> for applicable CGUs or groups of CGUs ranged from 7.5&nbsp;per cent to 14.2&nbsp;per cent on an <FONT STYLE="white-space:nowrap">after-tax</FONT> basis or 10.2&nbsp;per cent to 20.4 per cent on a
<FONT STYLE="white-space:nowrap">pre-tax</FONT> basis (2017 &#150; 9.2 per cent to 14.2&nbsp;per cent on an <FONT STYLE="white-space:nowrap">after-tax</FONT> basis or 11.3&nbsp;per cent to 20.4&nbsp;per cent on a
<FONT STYLE="white-space:nowrap">pre-tax</FONT> basis). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The key assumptions described above may change as economic and market conditions change, which may lead to
impairment charges in the future. Changes in discount rates and cash flow projections used in the determination of embedded values or reductions in market-based earnings multiples may result in impairment charges in the future which could be
material. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_7"></A>Note 7&nbsp;&nbsp;&nbsp;&nbsp;Insurance Contract Liabilities and Reinsurance Assets </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Insurance contract liabilities and reinsurance assets </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Insurance contract liabilities are reported gross of reinsurance ceded and the ceded liabilities are reported separately as a reinsurance asset. Insurance contract
liabilities include actuarial liabilities, benefits payable, provision for unreported claims and policyholder amounts on deposit. The components of gross and net insurance contract liabilities are shown below. </P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>313,737</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">291,767</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross benefits payable and provision for unreported claims</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,398</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,376</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross policyholder amounts on deposit</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,519</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">9,462</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>328,654</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">304,605</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reinsurance
assets<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(42,925</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(30,359</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net insurance contract liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;285,729</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;274,246</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The Company also holds reinsurance assets of $128 (2017 &#150; $nil) for investment contract liabilities, refer to note
8(b). </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Net insurance contract liabilities represent the amount which, together with estimated future premiums and net investment income, will be
sufficient to pay estimated future benefits, policyholder dividends and refunds, taxes (other than income taxes) and expenses on policies <FONT STYLE="white-space:nowrap">in-force</FONT> net of reinsurance premiums and recoveries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Net insurance contract liabilities are determined using CALM, as required by the Canadian Institute of Actuaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The determination of net insurance contract liabilities is based on an explicit projection of cash flows using current assumptions for each material cash flow item.
Investment returns are projected using the current asset portfolios and projected reinvestment strategies. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Each assumption is based on the best estimate adjusted by
a margin for adverse deviation. For fixed income returns, this margin is established by scenario testing a range of prescribed and company-developed scenarios consistent with Canadian Actuarial Standards of Practice. For all other assumptions, this
margin is established by directly adjusting the best estimate assumption. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Cash flows used in the net insurance contract liabilities valuation adjust the gross policy
cash flows to reflect projected cash flows from ceded reinsurance. The cash flow impact of ceded reinsurance varies depending upon the amount of reinsurance, the structure of reinsurance treaties, the expected economic benefit from treaty cash flows
and the impact of margins for adverse deviation. Gross insurance contract liabilities are determined by discounting gross policy cash flows using the same discount rate as the net CALM model discount rate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The reinsurance asset is determined by taking the difference between the gross insurance contract liabilities and the net insurance contract liabilities. The reinsurance
asset represents the benefit derived from reinsurance arrangements in force at the date of the Consolidated Statements of Financial Position. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The period used for the
projection of cash flows is the policy lifetime for most individual insurance contracts. For other types of contracts, a shorter projection period may be used, with the contract generally ending at the earlier of the first renewal date on or
after&nbsp;the Consolidated Statements of Financial Position date where the Company can exercise discretion in renewing its contractual obligations or terms of those obligations and the renewal or adjustment date that maximizes the insurance
contract liabilities. For segregated fund products with guarantees, the projection period is generally set as the period that leads to the largest insurance contract liability. Where the projection period is less than the policy lifetime, insurance
contract liabilities may be reduced by an allowance for acquisition expenses expected to be recovered from policy cash flows beyond the projection period used for the liabilities. Such allowances are tested for recoverability using assumptions that
are consistent with other components of the actuarial valuation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>136</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Composition </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The composition of insurance contract liabilities and reinsurance assets by the line of business and reporting segment is as follows. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Gross insurance contract liabilities </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00px solid #1f320c" BGCOLOR="#dde0da">Individual insurance</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Participating</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><FONT STYLE="white-space:nowrap">Non-</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">participating</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Annuities<BR>and<BR>pensions</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Other<BR>insurance<BR>contract<BR>liabilities<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total, net of<BR>reinsurance<BR>ceded</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total<BR>reinsurance<BR>ceded</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total,</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">gross of<BR>reinsurance<BR>ceded</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Asia </P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>38,470</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>29,547</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,062</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,048</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>76,127</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,332</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>77,459</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canada</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,743</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>34,677</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18,339</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12,869</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>76,628</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(202</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>76,426</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S.</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,673</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>63,412</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,125</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>44,932</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>133,142</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>41,695</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>174,837</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Corporate and Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(601</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>46</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>387</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(168</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(68</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total, net of reinsurance ceded</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>57,886</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>127,035</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>39,572</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>61,236</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>285,729</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>42,925</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>328,654</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total reinsurance ceded</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>11,596</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>12,303</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>17,927</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,099</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>42,925</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total, gross of reinsurance ceded</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;69,482</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;139,338</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;57,499</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;62,335</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;328,654</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="8" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00px solid #1f320c" BGCOLOR="#ffffff">Individual insurance</TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Participating</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><FONT STYLE="white-space:nowrap">Non-</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">participating</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Annuities<BR>and<BR>pensions</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Other<BR>insurance<BR>contract<BR>liabilities<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total, net of<BR>reinsurance<BR>ceded</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total<BR>reinsurance<BR>ceded</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total,</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">gross of<BR>reinsurance<BR>ceded</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Asia</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">32,737</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">22,705</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,366</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,435</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">62,243</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">911</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">63,154</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canada</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34,091</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,141</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,834</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76,198</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(676</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75,522</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,569</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57,599</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26,161</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43,522</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135,851</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29,952</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">165,803</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Corporate and Other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(515</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">421</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">172</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total, net of reinsurance ceded</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52,438</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113,880</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49,716</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58,212</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">274,246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">30,359</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">304,605</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total reinsurance ceded</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">11,492</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">11,238</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">6,539</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,090</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">30,359</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total, gross of reinsurance ceded</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">63,930</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">125,118</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">56,255</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">59,302</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">304,605</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Other insurance contract liabilities include group insurance and individual and group health including long-term care
insurance. </P></TD></TR></TABLE> <P STYLE="margin-top:9pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Separate <FONT STYLE="white-space:nowrap">sub-accounts</FONT> were established for participating policies
<FONT STYLE="white-space:nowrap">in-force</FONT> at the demutualization of MLI and John Hancock Mutual Life Insurance Company. These <FONT STYLE="white-space:nowrap">sub-accounts</FONT> permit this participating business to be operated as separate
&#147;closed blocks&#148; of participating policies. As at December&nbsp;31, 2018, $28,790 (2017 &#150; $28,135) of both assets and insurance contract liabilities were related to these closed blocks of participating policies. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Assets backing insurance contract liabilities, other liabilities and capital </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Assets are segmented and matched to liabilities with similar underlying characteristics by product line and major currency. The Company has established target investment
strategies and asset mixes for each asset segment supporting insurance contract liabilities which consider the risk attributes of the liabilities supported by the assets and expectations of market performance. Liabilities with rate and term
guarantees are predominantly backed by fixed-rate instruments on a cash flow matching basis for a targeted duration horizon. Longer duration cash flows on these liabilities as well as on adjustable products such as participating life insurance are
backed by a broader range of asset classes, including equity and alternative long-duration investments. The Company&#146;s capital is invested in a range of debt and equity investments, both public and private. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Changes in the fair value of assets backing net insurance contract liabilities, that the Company considers to be other than temporary, would have a limited impact on the
Company&#146;s net income wherever there is an effective matching of assets and liabilities, as these changes would be substantially offset by corresponding changes in the value of net insurance contract liabilities. The fair value of assets backing
net insurance contract liabilities as at December&nbsp;31, 2018, excluding reinsurance assets, was estimated at $287,326 (2017 &#150; $278,521). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at
December&nbsp;31, 2018, the fair value of assets backing capital and other liabilities was estimated at $465,497 (2017 &#150; $456,278). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>137</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents the carrying value of assets backing net insurance contract liabilities, other liabilities
and capital. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
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<TD></TD>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
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<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00px solid #1f320c" BGCOLOR="#dde0da">Individual insurance</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Participating</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><FONT STYLE="white-space:nowrap">Non-</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">participating</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Annuities<BR>and pensions</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Other insurance<BR>contract<BR>liabilities<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Other<BR>liabilities<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Capital<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>30,934</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>67,387</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>20,469</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>28,435</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,061</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>28,308</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>185,594</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,416</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,562</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>172</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>262</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>589</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,178</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,179</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,218</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,111</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,972</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,732</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21,295</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48,363</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,151</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14,131</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,960</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,581</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,772</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>159</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35,754</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,106</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,028</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,214</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,799</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>397</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>233</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12,777</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9,061</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>22,816</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,785</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,427</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>374,418</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>23,097</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>448,604</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;57,886</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;127,035</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;39,572</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;61,236</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;408,532</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;56,010</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;750,271</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="8" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00px solid #1f320c" BGCOLOR="#ffffff">Individual insurance</TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Participating</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><FONT STYLE="white-space:nowrap">Non-</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">participating</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Annuities<BR>and pensions</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Other insurance<BR>contract<BR>liabilities<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Other<BR>liabilities<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Capital<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;27,946</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">63,128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">26,621</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">25,211</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,635</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">24,459</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">174,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,264</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,855</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">171</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">332</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,029</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,894</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,017</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,286</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,009</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,891</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,476</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,645</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,059</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,739</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">367</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">194</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,963</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,198</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,136</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,516</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">769</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">228</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,810</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">6,603</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">16,285</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">6,720</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">15,523</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">377,352</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">20,821</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">443,304</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">52,438</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;113,880</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;49,716</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;58,212</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;404,628</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;50,659</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;729,533</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Other insurance contract liabilities include group insurance and individual and group health including long-term care
insurance. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Other liabilities are <FONT STYLE="white-space:nowrap">non-insurance</FONT> contract liabilities which include segregated
funds, bank deposits, long-term debt, deferred tax liabilities, derivatives, investment contracts, embedded derivatives and other miscellaneous liabilities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Capital is defined in note 13. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(d) Significant insurance contract liability valuation assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The determination of insurance contract liabilities involves the use of estimates and assumptions. Insurance contract liabilities have two major components: a best
estimate amount and a provision for adverse deviation. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Best estimate assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Best estimate assumptions are made with respect to mortality and morbidity, investment returns, rates of policy termination, operating expenses and certain taxes. Actual
experience is monitored to ensure that assumptions remain appropriate and assumptions are changed as warranted. Assumptions are discussed in more detail in the following table. </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="42%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt" BGCOLOR="#e8eae6">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000" BGCOLOR="#e8eae6">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt" BGCOLOR="#e8eae6"> <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Nature of factor and assumption methodology</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#e8eae6" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt" BGCOLOR="#e8eae6">
<P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Risk management</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt" BGCOLOR="#e8eae6"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Mortality</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>and</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>morbidity</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Mortality relates to the occurrence of
death. Mortality is a key assumption for life insurance and certain forms of annuities. Mortality assumptions are based on the Company&#146;s internal experience as well as past and emerging industry experience. Assumptions are differentiated by
sex, underwriting class, policy type and geographic market. Assumptions are made for future mortality improvements.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Morbidity relates to the occurrence of accidents and sickness for insured risks. Morbidity is a key assumption for long-term care insurance, disability insurance,
critical illness and other forms of individual and group health benefits. Morbidity assumptions are based on the Company&#146;s internal experience as well as past and emerging industry experience and are established for each type of morbidity risk
and geographic market. Assumptions are made for future morbidity improvements.</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">The Company maintains underwriting standards to determine the insurability of applicants. Claim trends are monitored on an ongoing basis. Exposure to large claims is
managed by establishing policy retention limits, which vary by market and geographic location. Policies in excess of the limits are reinsured with other companies.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">Mortality is monitored monthly and the overall 2018 experience was favourable (2017 &#150; unfavourable) when compared to the Company&#146;s assumptions. Morbidity is
also monitored monthly and the overall 2018 experience was unfavourable (2017 &#150; unfavourable) when compared to the Company&#146;s assumptions.</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>138</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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 COLOR="#1f320c"><B>Nature of factor and assumption methodology</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
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<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt" BGCOLOR="#e8eae6">
<P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Risk management</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>


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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt" BGCOLOR="#e8eae6"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Investment returns</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">The Company segments assets to support
liabilities by business segment and geographic market and establishes investment strategies for each liability segment. Projected cash flows from these assets are combined with projected cash flows from future asset purchases/sales to determine
expected rates of return on these assets for future years. Investment strategies are based on the target investment policies for each segment and the reinvestment returns are derived from current and projected market rates for fixed income
investments and a projected outlook for other alternative long-duration assets.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment
return assumptions include expected future asset credit losses on fixed income investments. Credit losses are projected based on past experience of the Company and industry as well as specific reviews of the current investment portfolio.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">Investment return assumptions for each asset class and geographic market also incorporate expected
investment management expenses that are derived from internal cost studies. The costs are attributed to each asset class to develop unitized assumptions per dollar of asset for each asset class and geographic market.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">The Company&#146;s policy of closely matching asset cash flows with those of the corresponding liabilities is designed to mitigate the Company&#146;s exposure to future
changes in interest rates. The interest rate risk positions in business segments are monitored on an ongoing basis. Under CALM, the reinvestment rate is developed using interest rate scenario testing and reflects the interest rate risk
positions.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">In 2018, the movement in interest rates positively
(2017&nbsp;&#150;&nbsp;negatively) impacted the Company&#146;s net income. This positive impact was driven by an increase in corporate spreads, partially offset by the impact of risk free interest rate movements and swap spreads on policy
liabilities.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">The exposure to credit losses is managed against policies that limit
concentrations by issuer, corporate connections, ratings, sectors and geographic regions. On participating policies and some <FONT STYLE="white-space:nowrap">non-participating</FONT> policies, credit loss experience is passed back to policyholders
through the investment return crediting formula. For other policies, premiums and benefits reflect the Company&#146;s assumed level of future credit losses at contract inception or most recent contract adjustment date. The Company holds explicit
provisions in actuarial liabilities for credit risk including provisions for adverse deviation.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">In 2018, credit loss experience on debt securities and mortgages was favourable (2017 &#150; favourable) when compared to the Company&#146;s assumptions.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Equities, real estate and other alternative long-duration assets are used to support liabilities
where investment return experience is passed back to policyholders through dividends or credited investment return adjustments. Equities, real estate, oil and gas and other alternative long-duration assets are also used to support long-dated
obligations in the Company&#146;s annuity and pension businesses and for long-dated insurance obligations on contracts where the investment return risk is borne by the Company.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">In 2018, investment experience on alternative long-duration assets backing policyholder liabilities
was unfavourable (2017&nbsp;&#150; unfavourable) primarily due to losses in oil and gas properties, real estate properties and private equities. In 2018, alternative long-duration asset origination exceeded (2017 &#150; exceeded) valuation
requirements.</P> <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">In 2018, for
the business that is dynamically hedged, segregated fund guarantee experience on residual, <FONT STYLE="white-space:nowrap">non-dynamically</FONT> hedged market risks was unfavourable (2017&nbsp;&#150; favourable). For the business that is not
dynamically hedged, experience on segregated fund guarantees due to changes in the market value of assets under management was also unfavourable (2017 &#150; favourable). This excludes the experience on the macro equity hedges.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">In 2018, investment expense experience was unfavourable (2017 &#150; unfavourable) when compared to
the Company&#146;s assumptions.</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
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<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Policy termination and premium persistency</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Policies are terminated through lapses
and surrenders, where lapses represent the termination of policies due to <FONT STYLE="white-space:nowrap">non-payment</FONT> of premiums and surrenders represent the voluntary termination of policies by policyholders. Premium persistency represents
the level of ongoing deposits on contracts where there is policyholder discretion as to the amount and timing of deposits. Policy termination and premium persistency assumptions are primarily based on the Company&#146;s recent experience adjusted
for expected future conditions. Assumptions reflect differences by type of contract within each geographic market.</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
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<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">The Company seeks to design products that minimize financial exposure to lapse, surrender and premium persistency risk. The Company monitors lapse, surrender and
persistency experience.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">In aggregate, 2018 policyholder termination and premium persistency
experience was unfavourable (2017 &#150; unfavourable) when compared to the Company&#146;s assumptions used in the computation of actuarial liabilities.</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>139</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000" BGCOLOR="#e8eae6">&nbsp;</TD></TR>
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<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt" BGCOLOR="#e8eae6"> <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Nature of factor and assumption methodology</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#e8eae6" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt" BGCOLOR="#e8eae6">
<P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Risk management</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>


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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt" BGCOLOR="#e8eae6"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Expenses and taxes</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Operating expense assumptions reflect the
projected costs of maintaining and servicing <FONT STYLE="white-space:nowrap">in-force</FONT> policies, including associated overhead expenses. The expenses are derived from internal cost studies projected into the future with an allowance for
inflation. For some developing businesses, there is an expectation that unit costs will decline as these businesses grow.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Taxes reflect assumptions for future premium taxes and other <FONT STYLE="white-space:nowrap">non-income</FONT> related taxes. For income taxes, policy liabilities are
adjusted only for temporary tax timing and permanent tax rate differences on the cash flows available to satisfy policy obligations.</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">The Company prices its products to cover the expected costs of servicing and maintaining them. In addition, the Company monitors expenses monthly, including comparisons
of actual expenses to expense levels allowed for in pricing and valuation.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Maintenance expenses
for 2018 were unfavourable (2017&nbsp;&#150;&nbsp;unfavourable) when compared to the Company&#146;s assumptions used in the computation of actuarial liabilities.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">The Company prices its products to cover the expected cost of taxes.</P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt" BGCOLOR="#e8eae6"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Policyholder&nbsp; dividends, experience rating refunds, and&nbsp; other adjustable policy elements</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">The best estimate projections for
policyholder dividends and experience rating refunds, and other adjustable elements of policy benefits are determined to be consistent with management&#146;s expectation of how these elements will be managed should experience emerge consistently
with the best estimate assumptions used for mortality and morbidity, investment returns, rates of policy termination, operating expenses and taxes.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">The Company monitors policy experience and adjusts policy benefits and other adjustable elements to reflect this experience.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">Policyholder dividends are reviewed annually for all businesses under a framework of Board-approved
policyholder dividend policies.</P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt" BGCOLOR="#e8eae6"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Foreign currency</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Foreign currency risk results from a
mismatch of the currency of liabilities and the currency of the assets designated to support these obligations. Where a currency mismatch exists, the assumed rate of return on the assets supporting the liabilities is reduced to reflect the potential
for adverse movements in foreign exchange rates.</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">The Company generally matches the currency of its assets with the currency of the liabilities they support, with the objective of mitigating the risk of loss arising from
movements in currency exchange rates.</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company reviews actuarial methods and assumptions on an annual
basis. If changes are made to assumptions (refer to note 7(h)), the full impact is recognized in income immediately. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(e) Sensitivity of
insurance contract liabilities to changes in <FONT STYLE="white-space:nowrap">non-economic</FONT> assumptions </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The sensitivity of net income attributed to
shareholders to changes in <FONT STYLE="white-space:nowrap">non-economic</FONT> assumptions underlying insurance contract liabilities is shown below, assuming a simultaneous change in the assumption across all business units. The sensitivity of net
income attributed to shareholders to a deterioration or improvement in <FONT STYLE="white-space:nowrap">non-economic</FONT> assumptions for Long-Term Care (&#147;LTC&#148;) as at December&nbsp;31, 2018 is also shown below. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In practice, experience for each assumption will frequently vary by geographic market and business and assumption updates are made on a business/geographic specific
basis. Actual results can differ materially from these estimates for a variety of reasons including the interaction among these factors when more than one changes; changes in actuarial and investment return and future investment activity
assumptions; changes in business mix, effective tax rates and other market factors; and the general limitations of internal models. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Potential impact on net income attributed to shareholders arising from changes to <FONT STYLE="white-space:nowrap">non-economic</FONT>
assumptions<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP> </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Decrease in net income<BR>attributed to shareholders</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Policy related assumptions</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">2% adverse change in future mortality
rates<SUP STYLE="font-size:85%; vertical-align:top">(2),(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Products where an increase in rates increases insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(400</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Products where a decrease in rates increases insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(500</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5% adverse change in future morbidity rates (incidence and termination)<SUP
STYLE="font-size:85%; vertical-align:top">(3),(4),(5)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(4,800</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;(5,100</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">10% adverse change in future policy termination
rates<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,200</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,100</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5% increase in future expense levels</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(600</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(500</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The participating policy funds are largely self-supporting and generate no material impact on net income attributed to
shareholders as a result of changes in <FONT STYLE="white-space:nowrap">non-economic</FONT> assumptions. Experience gains or losses would generally result in changes to future dividends, with no direct impact to shareholders. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">An increase in mortality rates will generally increase policy liabilities for life insurance contracts whereas a decrease
in mortality rates will generally increase policy liabilities for policies with longevity risk such as payout annuities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">No amounts related to morbidity risk are included for policies where the policy liability provides only for claims costs
expected over a short period, generally less than one year, such as Group Life and Health. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The impacts of the adverse sensitivities on LTC for morbidity, mortality and lapse do not assume any partial offsets from
the Company&#146;s ability to contractually raise premium rates in such events, subject to state regulatory approval. In practice, the Company would plan to file for rate increases equal to the amount of deterioration resulting from the sensitivity.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This includes a 5% deterioration in incidence rates and 5% deterioration in claim termination rates.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>140</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Potential impact on net income attributed to shareholders arising from changes to <FONT
STYLE="white-space:nowrap">non-economic</FONT> assumptions for Long-Term Care included in the above table<SUP STYLE="font-size:85%; vertical-align:top">(1),(2)</SUP> </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="91%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Decrease&nbsp;in&nbsp;net&nbsp;income<BR>attributed&nbsp;to&nbsp;shareholders</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Policy related assumptions</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">2% adverse change in future mortality rates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5% adverse change in future morbidity incidence rates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,700</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5% adverse change in future morbidity claims termination rates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,800</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">10% adverse change in future policy termination rates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(400</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5% increase in future expense levels</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The impacts of the adverse sensitivities on LTC for morbidity, mortality and lapse do not assume any partial offsets from
the Company&#146;s ability to contractually raise premium rates in such events, subject to state regulatory approval. In practice, the Company would plan to file for rate increases equal to the amount of deterioration resulting from the
sensitivities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The impact of favourable changes to all the sensitivities is relatively symmetrical. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(f) Provision for adverse deviation assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The assumptions made in establishing insurance contract liabilities reflect expected best estimates of future experience. To recognize the uncertainty in these best
estimate assumptions, to allow for possible misestimation of and deterioration in experience and to provide a greater degree of assurance that the insurance contract liabilities are adequate to pay future benefits, the Appointed Actuary is required
to include a margin in each assumption. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Margins are released into future earnings as the policy is released from risk. Margins for interest rate risk are included by
testing a number of scenarios of future interest rates. The margin can be established by testing a limited number of scenarios, some of which are prescribed by the Canadian Actuarial Standards of Practice, and determining the liability based on the
worst outcome. Alternatively, the margin can be set by testing many scenarios, which are developed according to actuarial guidance. Under this approach, the liability would be the average of the outcomes above a percentile in the range prescribed by
the Canadian Actuarial Standards of Practice. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Specific guidance is also provided for other risks such as market, credit, mortality and morbidity risks. For other
risks which are not specifically addressed by the Canadian Institute of Actuaries, a range is provided of five per cent to 20&nbsp;per cent of the expected experience assumption. The Company uses assumptions within the permissible ranges, with the
determination of the level set considering the risk profile of the business. On occasion, in specific circumstances for additional prudence, a margin may exceed the high end of the range, which is permissible under the Canadian Actuarial Standards
of Practice. This additional margin would be released if the specific circumstances which led to it being established were to change. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Each margin is reviewed
annually for continued appropriateness. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(g) Change in insurance contract liabilities </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The change in insurance contract liabilities was a result of the following business activities and changes in actuarial estimates. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Net&nbsp;actuarial<BR>liabilities</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Other<BR>insurance<BR>contract<BR>liabilities<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Net<BR>insurance<BR>contract<BR>liabilities</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Reinsurance<BR>assets</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Gross<BR>insurance<BR>contract<BR>liabilities</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, January&nbsp;1</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>263,091</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,155</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>274,246</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>30,359</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>304,605</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">New policies<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,269</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,269</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>388</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,657</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Normal <FONT STYLE="white-space:nowrap">in-force</FONT>
movement<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,044</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>985</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,029</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,150</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,879</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in methods and assumptions<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(173</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(174</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(608</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(782</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of annuity coinsurance transactions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(11,156</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(11,156</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,156</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of changes in foreign exchange rates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>15,686</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>829</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>16,515</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,780</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>19,295</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>272,761</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>12,968</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>285,729</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>42,925</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>328,654</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Net actuarial<BR>liabilities</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Other<BR>insurance<BR>contract<BR>liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Net<BR>insurance<BR>contract<BR>liabilities</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Reinsurance<BR>assets</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Gross<BR>insurance<BR>contract<BR>liabilities</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, January&nbsp;1</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">251,738</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">10,815</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">262,553</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">34,952</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">297,505</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">New policies<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">441</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,986</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Normal <FONT STYLE="white-space:nowrap">in-force</FONT>
movement<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,192</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">930</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,097</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,025</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in methods and assumptions<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">305</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">277</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">324</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of U.S. Tax Reform<SUP STYLE="font-size:85%; vertical-align:top">(3),(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Increase due to decision to change the portfolio asset mix supporting legacy businesses<SUP
STYLE="font-size:85%; vertical-align:top">(3),(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,340</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,340</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,383</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of changes in foreign exchange rates</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(11,275</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(562</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(11,837</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2,027</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(13,864</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;263,091</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;11,155</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;274,246</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;30,359</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;304,605</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>141</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Other insurance contract liabilities are comprised of benefits payable and provision for unreported claims and
policyholder amounts on deposit. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In 2018, the $2,907 increase reported as the change in insurance contract liabilities on the Consolidated Statements of
Income primarily consists of changes due to normal in-force movement, new policies and changes in methods and assumptions. These three items in the gross insurance contract liabilities were netted off by an increase of $4,754, of which $3,632 is
included in the Consolidated Statements of Income increase in insurance contract liabilities and $1,122 is included in gross claims and benefits. The Consolidated Statements of Income change in insurance contract liabilities also includes the change
in embedded derivatives associated with insurance contracts. The Company finalized its estimate of U.S. Tax reform which resulted in a $196 <FONT STYLE="white-space:nowrap">pre-tax</FONT> ($154 <FONT STYLE="white-space:nowrap">post-tax)</FONT>
increase in insurance contract liabilities, refer to note 5. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In 2017, the $20,023 increase reported as the change in insurance contract liabilities on the Consolidated Statements of
Income primarily consists of changes due to normal <FONT STYLE="white-space:nowrap">in-force</FONT> movement, new policies, changes in methods and assumptions, the impact of U.S. Tax Reform and the increase due to the decision to change the
portfolio asset mix supporting legacy businesses. These five items in the gross insurance contract liabilities were netted off by an increase of $20,964, of which $20,212 is included in the Consolidated Statements of Income increase in insurance
contract liabilities and $752 is included in gross claims and benefits. The Consolidated Statements of Income change in insurance contract liabilities also includes the change in embedded derivatives associated with insurance contracts.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In 2017, the impact of U.S. Tax Reform, which includes the lowering of the U.S. corporate tax rate from 35% to 21% and
limits on the tax deductibility of reserves, resulted in a $2,246 <FONT STYLE="white-space:nowrap">pre-tax</FONT> ($1,774 <FONT STYLE="white-space:nowrap">post-tax)</FONT> increase in policy liabilities due to the impact of temporary tax timing and
permanent tax rate differences on the cash flows available to satisfy policyholder obligations. The $472 deferred tax impact on this increase in policy liabilities, together with the impact of U.S. Tax Reform on the Company&#146;s deferred tax
assets and liabilities is included in note&nbsp;5. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In 2017, the decision to reduce the allocation to ALDA in the portfolio asset mix supporting the Company&#146;s North
American legacy businesses resulted in an increase in policy liabilities due to the impact on future expected investment income on assets supporting the policies. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(h) Actuarial methods and assumptions </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A
comprehensive review of valuation assumptions and methods is performed annually. The review reduces the Company&#146;s exposure to uncertainty by ensuring assumptions for both asset and liability related risks remain appropriate. This is
accomplished by monitoring experience and updating assumptions which represent a best estimate view of future experience, and margins that are appropriate for the risks assumed. While the assumptions selected represent the Company&#146;s current
best estimates and assessment of risk, the ongoing monitoring of experience and the economic environment is likely to result in future changes to the valuation assumptions, which could be material. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Annual review 2018 </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The completion of the 2018
annual review of actuarial methods and assumptions resulted in a decrease in insurance contract liabilities of $174, net of reinsurance, and a decrease in net income attributed to shareholders of $51 <FONT STYLE="white-space:nowrap">post-tax.</FONT>
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Change in insurance contract liabilities,<BR>net of
reinsurance</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Attributed
to<BR>participating<BR>policyholders&#146;<BR>account</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Attributed to<BR>shareholders&#146;<BR>account</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Change&nbsp;in&nbsp;net<BR>income&nbsp;attributed<BR>to
shareholders<BR><FONT STYLE="white-space:nowrap">(post-tax)</FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortality and morbidity updates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;&nbsp;319</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;(192</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;&nbsp;511</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;(360</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Lapses and policyholder behaviour</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>287</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>287</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(226</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment return assumptions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(96</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>50</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(146</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>143</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other updates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(684</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(94</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(590</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>392</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net impact</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;&nbsp;(174</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;(236</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;&nbsp;&nbsp;(51</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to mortality and morbidity assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Mortality and morbidity updates resulted in a $360 <FONT STYLE="white-space:nowrap">post-tax</FONT> charge to net income attributed to shareholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The primary driver of the charge is related to updates to mortality and morbidity assumptions for the Company&#146;s structured settlement and term renewal business in
Canada. A review of mortality assumptions for the Company&#146;s U.S. group pension annuity business and certain blocks of life insurance business resulted in a small charge to earnings, and other updates to mortality and morbidity assumptions led
to a small net charge. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to lapses and policyholder behaviour </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Lapse and policyholder behaviour updates resulted in a $226 <FONT STYLE="white-space:nowrap">post-tax</FONT> charge to net income attributed to shareholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The primary driver of the charge is related to updated lapse and premium persistency rates for certain U.S. insurance product lines ($252
<FONT STYLE="white-space:nowrap">post-tax</FONT> charge). This included updates to universal life <FONT STYLE="white-space:nowrap">no-lapse</FONT> guarantee business lapse assumptions to better reflect emerging experience, which showed a variation
in lapses based on premium funding levels, partially offset by favourable lapse experience on several of the U.S. life insurance product lines. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other updates to
lapse and policyholder behaviour assumptions were made across several product lines to reflect recent experience. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to investment
return assumptions </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Investment return assumption updates resulted in a $143 <FONT STYLE="white-space:nowrap">post-tax</FONT> gain to net income attributed
to shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company updated its bond default rates to reflect recent experience, leading to a $401 <FONT STYLE="white-space:nowrap">post-tax</FONT> gain and
updated the investment return assumptions for ALDA and public equities, specifically oil and gas, which led to a $210 <FONT STYLE="white-space:nowrap">post-tax</FONT> charge. Other refinements to the projections of investment returns resulted in a
$48 <FONT STYLE="white-space:nowrap">post-tax</FONT> charge. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Other updates </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Refinements to the projection of the tax and liability cashflows across multiple product lines led to a <FONT STYLE="white-space:nowrap">post-tax</FONT> gain to net
income attributed to shareholders of $392. The refinements were primarily driven by the projection of tax cashflows as the Company reviewed the deductibility of certain reserves. In addition, the Company refined the projection of policyholder
crediting rates for certain products. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>142</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Annual Review 2017 </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The quantification of the impact of the 2017 comprehensive review of valuation methods and assumptions is as of July&nbsp;1, 2017 for all lines of business. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The 2017 full year review of actuarial methods and assumptions resulted in an increase in insurance and investment contract liabilities of $277, net of reinsurance, and a
decrease in net income attributed to shareholders of $35 <FONT STYLE="white-space:nowrap">post-tax.</FONT> These charges exclude the impacts of the U.S. Tax Reform and reducing the allocation to ALDA in the Company&#146;s portfolio asset mix. The
charge to net income in the fourth quarter of 2017 for these two items was $2.8&nbsp;billion, which primarily related to the <FONT STYLE="white-space:nowrap">post-tax</FONT> change in policy liabilities. Refer to notes 5 and 7(g) for further
details. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Change in insurance contract liabilities,</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">net of reinsurance</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Attributed to<BR>participating<BR>policyholders&#146;<BR>account</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Attributed to<BR>shareholders&#146;<BR>account</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Change&nbsp;in&nbsp;net<BR>income&nbsp;attributed<BR>to shareholders<BR><FONT
STYLE="white-space:nowrap">(post-tax)</FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortality and morbidity updates</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(254</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(263</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;299</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Lapses and policyholder behaviour</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;1,019</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,019</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(783</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other updates</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">ALDA and public equity investment return assumptions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,296</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,291</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(892</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Corporate spread assumptions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(515</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(514</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">344</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Refinements to liability and tax cash flows</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,049</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,049</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">696</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(220</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(304</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">301</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net impact</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">277</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;97</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;(35</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to mortality and morbidity assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Mortality and morbidity updates resulted in a $299 benefit to net income attributed to shareholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company completed a detailed review of the mortality assumptions for its U.S. life insurance business which resulted in a $384 charge to net income attributed to
shareholders. Assumptions were increased, particularly at older ages, reflecting both industry and the Company&#146;s own experience. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Updates to actuarial standards
related to future mortality improvement, and the review of mortality improvement assumptions globally, resulted in a $264 benefit to net income attributed to shareholders primarily in Canada and Asia. The updated actuarial standards include a
diversification benefit for the determination of margins for adverse deviation which recognizes the offsetting impact of longevity and mortality risk. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company
completed a detailed review of mortality assumptions for its Canadian retail insurance business which resulted in a $222 benefit to net income attributed to shareholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other updates to mortality and morbidity assumptions led to a $197 benefit to net income attributed to shareholders. These updates included a reduction in the margins for
adverse deviation applied to morbidity assumptions for certain medical insurance products in Japan. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to lapses and policyholder
behaviour </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Updates to lapses and policyholder behaviour assumptions resulted in a $783 charge to net income attributed to shareholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In Canadian retail insurance, lapse assumptions were reduced for certain universal life products to reflect recent experience, leading to a $315 charge to net income
attributed to shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">For Canadian segregated fund guaranteed minimum withdrawal benefit lapses, incidence and utilization assumptions were updated to reflect
recent experience which led to a $242 charge to net income attributed to shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other updates to lapse and policyholder behaviour assumptions were made across
several product lines including a reduction in lapse assumptions for the Company&#146;s whole life insurance products in Japan, leading to a $226 charge to net income attributed to shareholders. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Other updates </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other updates resulted in a $449
benefit to net income attributed to shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company reviewed its investment return assumptions for ALDA and public equities, which in aggregate led to a
reduction in return assumptions and a $892 charge to net income attributed to shareholders. The Company also reviewed future corporate spread assumptions, which led to a $344 benefit to net income attributed to shareholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Refinements to the projection of the Company&#146;s liability and tax cash flows in the U.S. resulted in a $696 benefit to net income attributed to shareholders. These
changes included refinements to the projection of policyholder crediting rates for certain universal life insurance products. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>143</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other refinements resulted in a $301 benefit to net income attributed to shareholders. These changes included a review
of provisions for reinsurance counterparty credit risk and several other refinements to the projection of both the Company&#146;s asset and liability cash flows. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>(i) Insurance contracts contractual obligations </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Insurance contracts give rise to obligations fixed by agreement. As at
December&nbsp;31, 2018, the Company&#146;s contractual obligations and commitments relating to insurance contracts are as follows. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>Payments due by period</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Less&nbsp;than<BR>1 year</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">1 to 3</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">3 to 5</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Over 5</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Insurance contract liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;9,327</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;10,863</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;17,994</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;750,238</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;788,422</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Insurance contract liability cash flows include estimates related to the timing and payment of death and disability
claims, policy surrenders, policy maturities, annuity payments, minimum guarantees on segregated fund products, policyholder dividends, commissions and premium taxes offset by contractual future premiums on
<FONT STYLE="white-space:nowrap">in-force</FONT> contracts. These estimated cash flows are based on the best estimate assumptions used in the determination of insurance contract liabilities. These amounts are undiscounted and reflect recoveries from
reinsurance agreements. Due to the use of assumptions, actual cash flows may differ from these estimates. Cash flows include embedded derivatives measured separately at fair value. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(j) Gross claims and benefits </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following
table presents a breakdown of gross claims and benefits. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="92%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Death, disability and other claims</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,174</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">14,871</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Maturity and surrender benefits</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,722</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,302</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Annuity payments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,262</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,470</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policyholder dividends and experience rating refunds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,809</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,085</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net transfers from segregated funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,089</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,734</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;27,878</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;24,994</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(k) Annuity coinsurance transactions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">On September&nbsp;26, 2018, the Company entered into coinsurance agreements with Reinsurance Group of America (&#147;RGA&#148;) to reinsure a block of legacy U.S.
individual <FONT STYLE="white-space:nowrap">pay-out</FONT> annuities business from John Hancock Life Insurance Company (U.S.A.) (&#147;JHUSA&#148;) and John Hancock Life Insurance Company of New York (&#147;JHNY&#148;).&nbsp;Under the terms of the
agreements, the Company will maintain responsibility for servicing the policies. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The JHUSA transaction closed with an effective date of July&nbsp;1, 2018 with a 100%
quota share. The transaction was structured such that the Company ceded policyholder contract liabilities and transferred related invested assets backing these liabilities. The Company recorded an <FONT STYLE="white-space:nowrap">after-tax</FONT>
loss of $74 at the inception of the agreement, consisting of ceded premiums of $3.7&nbsp;billion and an increase of reinsurance assets of $3.6&nbsp;billion on the Consolidated Statements of Income. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">On October&nbsp;31, 2018, the Company entered into coinsurance agreements with Jackson National Life Insurance Company (&#147;Jackson&#148;), a wholly-owned subsidiary of
Prudential plc, to reinsure a block of legacy U.S. group <FONT STYLE="white-space:nowrap">pay-out</FONT> annuities business from JHUSA and JHNY. Under the terms of the agreements, the Company will maintain responsibility for servicing the policies.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The JHUSA transaction closed with an effective date of October&nbsp;1, 2018 with a 100% quota share. The transaction was structured such that the Company ceded
policyholder contract liabilities and transferred related invested assets backing these liabilities. The Company recorded an <FONT STYLE="white-space:nowrap">after-tax</FONT> gain of $142 at the inception of the agreement, consisting of ceded
premiums of $7.0&nbsp;billion and an increase of reinsurance assets of $7.5&nbsp;billion on the Consolidated Statements of Income. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The JHNY transaction with Jackson
is expected to close separately in the first quarter of 2019. The JHNY transaction with RGA closed on February 7, 2019. These transactions are expected to result in an <FONT STYLE="white-space:nowrap">after-tax</FONT> gain of approximately $80. </P>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>144</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_8"></A>Note 8&nbsp;&nbsp;&nbsp;&nbsp;Investment Contract Liabilities
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Investment contract liabilities are contractual obligations that do not contain significant insurance risk. Those contracts are measured either at fair
value or at amortized cost. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Investment contract liabilities measured at fair value </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Investment contract liabilities measured at fair value include certain investment savings and pension products sold primarily in Hong Kong and mainland China. The
following table presents the movement in investment contract liabilities measured at fair value during the year. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, January&nbsp;1</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>639</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">631</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">New policies</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>96</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in market conditions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>76</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Redemptions, surrenders and maturities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(86</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(72</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of changes in foreign exchange rates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>57</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;782</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;639</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Investment contract liabilities measured at amortized cost </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Investment contract liabilities measured at amortized cost include several fixed annuity products sold in Canada and U.S. fixed annuity products that provide guaranteed
income payments for a contractually determined period and are not contingent on survivorship. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Carrying value and fair value of investment contract liabilities
measured at amortized cost. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Amortized<BR>cost, gross of<BR>reinsurance<BR>ceded<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Amortized</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">cost, gross of<BR>reinsurance<BR>ceded<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S. fixed annuity products</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;&nbsp;&nbsp;&nbsp;$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,357</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,449</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,282</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,433</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canadian fixed annuity products</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,126</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,269</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,205</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,354</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Investment contract liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;&nbsp;&nbsp;&nbsp;$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,483</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,718</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;&nbsp;&nbsp;$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,487</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,787</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">During the year, investment contract labilities with the carrying value and fair value of $128 and $130, respectively
(2017 &#150; $nil and $nil, respectively), were reinsured by the Company. As at December&nbsp;31, 2018, the net carrying value and fair value of investment contracts labilities were $2,355 and $2,588, respectively. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The changes in investment contract liabilities measured at amortized cost was a result of the following business activities. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, January&nbsp;1</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;2,487</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;2,644</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policy deposits</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>82</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Withdrawals</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(201</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(232</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fees</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of changes in foreign exchange rates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>110</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(91</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,483</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,487</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Carrying value of fixed annuity products is amortized at a rate that exactly discounts the projected actual cash flows to the net carrying
amount of the liability at the date of issue. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Fair value of fixed annuity products is determined by projecting cash flows according to the contract terms and
discounting the cash flows at current market rates adjusted for the Company&#146;s own credit standing. As at December&nbsp;31, 2018 and 2017, all investment contracts were categorized in Level&nbsp;2 of the fair value hierarchy. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Investment contracts contractual obligations </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018, the Company&#146;s contractual obligations and commitments relating to the investment contracts are as follows. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="58%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>Payments due by period</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Less than<BR>1 year</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">1 to 3</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">3 to 5</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">years</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Over 5<BR>years</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment contract liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;193</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;492</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;476</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;4,312</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;5,473</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Due to the nature of the products, the timing of net cash flows may be before contract maturity. Cash flows are
undiscounted. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>145</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_9"></A>Note 9&nbsp;&nbsp;&nbsp;&nbsp;Risk Management </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s policies and procedures for managing risk related to financial instruments are presented in the &#147;Risk Management&#148; section of the
Company&#146;s MD&amp;A for the year ended December&nbsp;31, 2018. Specifically, these disclosures are included in &#147;Market Risk&#148; and &#147;Liquidity Risk&#148; in that section. These disclosures are in accordance with IFRS 7
&#147;Financial Instruments: Disclosures&#148; and therefore, only the shaded text and tables in the &#147;Risk Management&#148; section form an integral part of these Consolidated Financial Statements. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Credit risk </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Credit risk is the risk of loss
due to inability or unwillingness of a borrower, or counterparty, to fulfill its payment obligations. Worsening regional and global economic conditions, segment or industry sector challenges, or company specific factors could result in defaults or
downgrades and could lead to increased provisions or impairments related to the Company&#146;s general fund invested assets, derivative financial instruments and reinsurance assets and an increase in provisions for future credit impairments that are
included in actuarial liabilities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s exposure to credit risk is managed through risk management policies and procedures which include a defined
credit evaluation and adjudication process, delegated credit approval authorities and established exposure limits by borrower, corporate connection, credit rating, industry and geographic region. The Company measures derivative counterparty exposure
as net potential credit exposure, which takes into consideration <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> values of all transactions with each counterparty, net of any collateral held, and an
allowance to reflect future potential exposure. Reinsurance counterparty exposure is measured reflecting the level of ceded liabilities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company also ensures
where warranted, that mortgages, private placements and loans to Bank clients are secured by collateral, the nature of which depends on the credit risk of the counterparty. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">An allowance for losses on loans is established when a loan becomes impaired. Allowances for loan losses are calculated to reduce the carrying value of the loans to
estimated net realizable value. The establishment of such allowances takes into consideration normal historical credit loss levels and future expectations, with an allowance for adverse deviations. In addition, policy liabilities include general
provisions for credit losses from future asset impairments. Impairments are identified through regular monitoring of all credit related exposures, considering such information as general market conditions, industry and borrower specific credit
events and any other relevant trends or conditions. Allowances for losses on reinsurance contracts are established when a reinsurance counterparty becomes unable or unwilling to fulfill its contractual obligations. The allowance for loss is based on
current recoverable amounts and ceded policy liabilities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Credit risk associated with derivative counterparties is discussed in note 9(d) and credit risk associated
with reinsurance counterparties is discussed in note 9(i). </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Credit exposure </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents the gross carrying amount of financial instruments subject to credit exposure, without considering any collateral held or other credit
enhancements. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">FVTPL</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;154,737</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;147,024</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">AFS</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>30,857</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26,976</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48,363</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35,754</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policy loans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,446</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,808</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loans to Bank clients</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,793</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,737</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivative assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,703</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,569</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Accrued investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,427</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reinsurance assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>43,053</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30,359</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other financial assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,253</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;341,933</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;311,782</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December 31, 2018, 99% (2017-99%) of debt securities were investment grade-rated with ratings ranging between AAA to BBB. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Credit quality </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Credit quality of commercial
mortgages and private placements is assessed at least annually by using an internal rating based on regular monitoring of credit-related exposures, considering both qualitative and quantitative factors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A provision is recorded when the internal risk ratings indicate that a loss represents the most likely outcome. These assets are designated as <FONT
STYLE="white-space:nowrap">non-accrual</FONT> and an allowance is established based on an analysis of the security and repayment sources. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>146</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Credit quality of commercial mortgages and private placements. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:7pt; font-family:ARIAL" ALIGN="right">AAA</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:7pt; font-family:ARIAL" ALIGN="right">AA</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:7pt; font-family:ARIAL" ALIGN="right">A</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:7pt; font-family:ARIAL" ALIGN="right">BBB</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:7pt; font-family:ARIAL" ALIGN="right">BB</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:7pt; font-family:ARIAL" ALIGN="right">B&nbsp;and&nbsp;lower</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Commercial mortgages</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Retail</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>82</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,524</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,459</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,227</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>74</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,377</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Office</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>56</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,495</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,454</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,650</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>45</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,706</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Multi-family residential</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>613</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,427</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,407</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>839</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,323</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Industrial</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>36</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>366</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,953</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>339</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>120</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,814</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>289</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>334</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,167</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,191</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,995</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>Total commercial mortgages</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>1,076</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>5,146</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>15,440</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>6,246</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>213</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>94</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>28,215</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Agricultural mortgages</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>163</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>389</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>552</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,143</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,968</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,304</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>14,055</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>733</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,551</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>35,754</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;2,219</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;10,277</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;28,744</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;20,690</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>946</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,645</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;64,521</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">AAA</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">AA</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">A</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">BBB</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">BB</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">B&nbsp;and&nbsp;lower</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Commercial mortgages</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Retail</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,517</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,363</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,050</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">8,141</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Office</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,272</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,635</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,647</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,709</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Multi-family residential</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">523</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,395</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,805</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">726</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,449</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Industrial</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">386</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,542</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">477</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">145</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,583</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">362</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">331</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,012</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">973</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,692</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total commercial mortgages</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,085</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,901</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">13,357</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,873</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">273</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">25,574</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Agricultural mortgages</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">159</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">405</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">589</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,038</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,246</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">11,978</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">13,160</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">717</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">993</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">32,132</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,123</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">9,306</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">25,335</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">19,438</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,015</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,078</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">58,295</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Credit quality of residential mortgages and loans to Bank clients is assessed at least annually with the loan being performing or <FONT
STYLE="white-space:nowrap">non-performing</FONT> as the key credit quality indicator. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Full or partial write-offs of loans are recorded when management believes that
there is no realistic prospect of full recovery. Write-offs, net of recoveries, are deducted from the allowance for credit losses. All impairments are captured in the allowance for credit losses. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Credit quality of residential mortgages and loans to Bank clients. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="12" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="12"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>2018</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:4.5pt"><SUP STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP>
<B></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT STYLE="font-size:7pt">2017</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Insured</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Uninsured</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Insured</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Uninsured</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Residential mortgages</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Performing</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,854</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12,696</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,550</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">7,256</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">11,310</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18,566</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-performing</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>46</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Loans to Bank clients</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Performing</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,787</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,787</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,734</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,734</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-performing</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;6,873</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;14,516</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;21,389</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;7,260</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;13,056</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;20,316</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left"><FONT STYLE="white-space:nowrap">Non-performing</FONT> refers to assets that are 90 days or more past due.
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The carrying value of government-insured mortgages was 15% of the total mortgage portfolio as at December&nbsp;31, 2018 (2017 &#150; 17%). Most of
these insured mortgages are residential loans as classified in the table above. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Past due or credit impaired financial assets
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company provides for credit risk by establishing allowances against the carrying value of impaired loans and recognizing impairment losses on AFS debt
securities. In addition, the Company reports as impairment certain declines in the fair value of debt securities designated as FVTPL which it deems represent an impairment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>147</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Past due but not impaired and impaired financial assets </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


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<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
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<TD VALIGN="bottom" WIDTH="3%"></TD>
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<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" STYLE="BORDER-BOTTOM:1px solid #000000" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Past due but not impaired</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Less&nbsp;than<BR>90 days</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">90 days<BR>and&nbsp;greater</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total<BR>impaired</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">FVTPL</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>39</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">AFS</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-3.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-3.00em; font-size:8pt; font-family:ARIAL">Mortgages and loans to Bank clients</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>70</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>70</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>120</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other financial assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>77</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>26</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>103</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;176</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;28</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;204</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;179</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="12"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">Past due but not impaired</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Less than<BR>90 days</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">90 days<BR>and greater</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total<BR>impaired</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">FVTPL</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">AFS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">363</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">363</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages and loans to Bank clients</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other financial assets</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">589</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">44</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">633</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">173</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Impaired loans </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="71%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Gross<BR>carrying<BR>value</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Allowances&nbsp;for<BR>loan&nbsp;losses</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Net&nbsp;carrying<BR>value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-3.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>61</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>43</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages and loans to Bank clients</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>172</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>52</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>120</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;233</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;95</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;138</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Gross<BR>carrying<BR>value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Allowances for<BR>loan losses</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Net carrying<BR>value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages and loans to Bank clients</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">132</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">211</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Allowance for loan losses </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="12" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="12"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Private<BR>placements</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR>&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR><BR></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Mortgages<BR>and&nbsp;loans&nbsp;to<BR>Bank clients</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR>&nbsp;<BR>&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Total</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Private<BR>placements</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR>&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR><BR></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Mortgages<BR>and&nbsp;loans&nbsp;to<BR>Bank clients</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR>&nbsp;<BR>&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Total</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, January&nbsp;1</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>39</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>46</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>85</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;118</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Provisions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>55</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Recoveries</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(27</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(9</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(36</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(13</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Write-offs<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(43</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(55</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>Balance, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;43</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;52</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;95</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;39</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;46</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">85</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes disposals and impact of changes in foreign exchange rates. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Securities lending, repurchase and reverse repurchase transactions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company engages in securities lending to generate fee income. Collateral exceeding the market value of the loaned securities is retained by the Company until the
underlying security has been returned to the Company. The market value of the loaned securities is monitored daily and additional collateral is obtained or refunded as the market value of the underlying loaned securities fluctuates. As at
December&nbsp;31, 2018, the Company had loaned securities (which are included in invested assets) with a market value of $1,518 (2017 &#150; $1,563). The Company holds collateral with a current market value that exceeds the value of securities lent
in all cases. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company engages in reverse repurchase transactions to generate fee income, to take possession of securities to cover short positions in similar
instruments and to meet short-term funding requirements. As at December&nbsp;31, 2018, the Company had engaged </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>148</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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in reverse repurchase transactions of $63 (2017 &#150; $230) which are recorded as short-term receivables. In addition, the Company had engaged in repurchase transactions of $64 as at
December&nbsp;31, 2018 (2017 &#150; $228) which are recorded as payables. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Credit default swaps </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company replicates exposure to specific issuers by selling credit protection via credit default swaps (&#147;CDSs&#148;) to complement its cash debt securities
investing. The Company does not write CDS protection more than its government bond holdings. A CDS is a derivative instrument representing an agreement between two parties to exchange the credit risk of a single specified entity or an index based on
the credit risk of a group of entities (all commonly referred to as the &#147;reference entity&#148; or a portfolio of &#147;reference entities&#148;), in return for a periodic premium. CDS contracts typically have a five-year term. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents details of the credit default swap protection sold by type of contract and external agency rating for the underlying reference security. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="74%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
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<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Notional<BR>amount<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Weighted<BR>average<BR>maturity</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;years)<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Single name CDSs<SUP STYLE="font-size:85%; vertical-align:top">(3) </SUP>&#150; Corporate
debt</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">AA</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>25</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">A</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>447</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">BBB</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>180</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:13pt; font-size:8pt; font-family:ARIAL">Total single name CDSs</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>652</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>9</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>2</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>Total CDS protection sold</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>652</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>9</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>2</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Notional<BR>amount<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Weighted<BR>average<BR>maturity</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;years)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Single name CDSs<SUP STYLE="font-size:85%; vertical-align:top">(3) </SUP>&#150; Corporate
debt</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">AAA</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">AA</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">A</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">408</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">BBB</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">150</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:13pt; font-size:8pt; font-family:ARIAL">Total single name CDSs</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;606</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;14</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">3</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>Total CDS protection sold</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;606</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;14</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">3</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)&nbsp;</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Notional amounts represent the maximum future payments the Company would have to pay its counterparties assuming a default
of the underlying credit and zero recovery on the underlying issuer obligation. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)&nbsp;</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left"> The weighted average maturity of the CDS is weighted based on notional amounts. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)&nbsp;</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left"> Rating agency designations are based on S&amp;P where available followed by Moody&#146;s, DBRS, and Fitch. If no rating
is available from a rating agency, an internally developed rating is used. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company held no purchased credit protection as at December&nbsp;31,
2018 and 2017. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(d) Derivatives </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The
Company&#146;s <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">point-in-time</FONT></FONT> exposure to losses related to credit risk of a derivative counterparty is limited to the amount of any net gains that may have accrued with
a counterparty. Gross derivative counterparty exposure is measured as the total fair value (including accrued interest) of all outstanding contracts in a gain position excluding any offsetting contracts in a loss position and the impact of
collateral on hand. The Company limits the risk of credit losses from derivative counterparties by: using investment grade counterparties; entering into master netting arrangements which permit the offsetting of contracts in a loss position in the
case of a counterparty default; and entering into Credit Support Annex agreements, whereby collateral must be provided when the exposure exceeds a certain threshold. All contracts are held with counterparties rated
<FONT STYLE="white-space:nowrap">BBB-</FONT> or higher. As at December&nbsp;31, 2018, the percentage of the Company&#146;s derivative exposure with counterparties rated <FONT STYLE="white-space:nowrap">AA-</FONT> or higher was 19&nbsp;per cent (2017
&#150; 20 per cent). The Company&#146;s exposure to credit risk was mitigated by $7,848 fair value of collateral held as security as at December&nbsp;31, 2018 (2017 &#150; $10,138). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018, the largest single counterparty exposure, without considering the impact of master netting agreements or the benefit of collateral held, was
$2,269 (2017 &#150; $2,629). The net exposure to this counterparty, after considering master netting agreements and the fair value of collateral held, was $nil (2017 &#150; $nil). As at December&nbsp;31, 2018, the total maximum credit exposure
related to derivatives across all counterparties, without considering the impact of master netting agreements and the benefit of collateral held, was $14,320 (2017 &#150; $16,204). </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(e) Offsetting financial assets and financial liabilities </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Certain derivatives, securities lent and repurchase agreements have conditional offset rights. The Company does not offset these financial instruments in the Consolidated
Statements of Financial Position, as the rights of offset are conditional. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the case of derivatives, collateral is collected from and pledged to counterparties and
clearing houses to manage credit risk exposure in accordance with Credit Support Annexes to swap agreements and clearing agreements. Under master netting agreements, the Company has a right of offset in the event of default, insolvency, bankruptcy
or other early termination. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>149</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the case of reverse repurchase and repurchase transactions, additional collateral may be collected from or pledged
to counterparties to manage credit exposure according to bilateral reverse repurchase or repurchase agreements. In the event of default by a counterparty, the Company is entitled to liquidate the collateral held to offset against the same
counterparty&#146;s obligation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents the effect of conditional master netting and similar arrangements. Similar arrangements may include
global master repurchase agreements, global master securities lending agreements, and any related rights to financial collateral. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="border-bottom:1.00px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Related&nbsp;amounts&nbsp;not&nbsp;set&nbsp;off&nbsp;in&nbsp;the<BR>Consolidated&nbsp;Statements&nbsp;of<BR>Financial Position</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Gross&nbsp;amounts&nbsp;of<BR>financial&nbsp;instruments<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Amounts&nbsp;subject&nbsp;to<BR>an enforceable<BR>master netting<BR>arrangement or<BR>similar agreements</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Financial and<BR>cash&nbsp;collateral<BR>pledged<BR>(received)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Net&nbsp;amount<BR>including<BR>financing<BR>trusts<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Net&nbsp;amounts<BR>excluding<BR>financing<BR>trusts</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Financial assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivative assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14,320</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(6,644</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(7,431</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>245</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>245</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Securities lending</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,518</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,518</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reverse repurchase agreements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>63</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(63</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>Total financial assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;15,901</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(6,707</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(8,949</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;245</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;245</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Financial liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivative liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(8,716</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;6,644</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,868</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(204</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(33</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Repurchase agreements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(64</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>63</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>Total financial liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(8,780</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>6,707</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>1,869</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(204</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(33</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="8"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00px solid #1f320c">Related&nbsp;amounts&nbsp;not set&nbsp;off&nbsp;in&nbsp;the<BR>Consolidated Statements of<BR>Financial Position</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Gross amounts of<BR>financial&nbsp;instruments<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Amounts subject to<BR>an enforceable<BR>master netting<BR>arrangement or<BR>similar agreements</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Financial and<BR>cash&nbsp;collateral<BR>pledged<BR>(received)<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Net&nbsp;amount<BR>including<BR>financing<BR>trusts<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Net&nbsp;amounts<BR>excluding<BR>financing<BR>trusts</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Financial assets</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivative assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16,204</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(6,714</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(9,395</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Securities lending</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,563</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,563</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reverse repurchase agreements</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">230</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(184</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>Total financial assets</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;17,997</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(6,760</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(11,142</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">95</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">95</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Financial liabilities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivative liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(8,649</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;6,714</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,718</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;(217</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;(30</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Repurchase agreements</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(228</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:13pt; font-size:8pt; font-family:ARIAL"><B>Total financial liabilities</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(8,877</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">6,760</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">1,900</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(217</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(30</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:13pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Financial assets and liabilities include accrued interest of $621 and $913, respectively (2017 &#150; $638 and $827,
respectively). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Financial and cash collateral exclude over-collateralization. As at December&nbsp;31, 2018, the Company was
over-collateralized on OTC derivative assets, OTC derivative liabilities, securities lending and reverse purchase agreements and repurchase agreements in the amounts of $417, $405, $80 and $nil, respectively (2017 &#150; $743, $382, $79 and $nil,
respectively). As at December&nbsp;31, 2018, collateral pledged (received) does not include <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">collateral-in-transit</FONT></FONT> on OTC instruments or initial margin on exchange traded
contracts or cleared contracts. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes derivative contracts entered between the Company and its financing trusts which it does not consolidate. The
Company does not exchange collateral on derivative contracts entered with these trusts. Refer to note 17. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company has certain credit linked
note assets and variable surplus note liabilities which have unconditional offset rights. Under the netting agreements, the Company has rights of offset including in the event of the Company&#146;s default, insolvency, or bankruptcy. These financial
instruments are offset in the Consolidated Statements of Financial Position. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A credit linked note is a security that allows the issuer to transfer a specific credit
risk to the buyer. A surplus note is a subordinated debt obligation that often qualifies as a surplus (the U.S. statutory equivalent of equity) by some U.S. state insurance regulators. Interest payments on surplus notes are made after all other
contractual payments are made. The following table presents the effect of unconditional netting. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="57%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8">Gross amounts of<BR>financial&nbsp;instruments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8">Amounts subject to<BR>an enforceable<BR>netting&nbsp;arrangement</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8">Net&nbsp;amounts&nbsp;of<BR>financial&nbsp;instruments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Credit linked note<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;679</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dbded8"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8" ALIGN="right"><B>(679</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dbded8"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dbded8"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dbded8" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dbded8"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Variable surplus note</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8" ALIGN="right"><B>(679</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;679</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dbded8" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dbded8"><B>&nbsp;</B></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>150</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="58%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Gross&nbsp;amounts of<BR>financial&nbsp;instruments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Amounts&nbsp;subject&nbsp;to<BR>an enforceable<BR>netting&nbsp;arrangement</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Net amounts of<BR>financial&nbsp;instruments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Credit linked note<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">461</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;(461</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Variable surplus note</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;(461</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">461</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In 2017, the Company entered into a twenty-year financing facility with a third party, agreeing to issue variable surplus
notes in exchange for an equal amount of credit linked notes. These notes are held to support JHUSA excess reserves under U.S. National Association of Insurance Commissioners&#146; Model Regulation XXX. In certain scenarios, the credit linked note
will be drawn upon by the Company which will issue fixed surplus notes equal to the draw payment received. The third party has agreed to fund any such payment under the credit-linked notes in return for a fee. As at December&nbsp;31, 2018, the
Company had no fixed surplus notes outstanding. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(f) Risk concentrations </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company defines enterprise-wide investment portfolio level targets and limits to ensure that portfolios are diversified across asset classes and individual investment
risks. The Company monitors actual investment positions and risk exposures for concentration risk and reports its findings to the Executive Risk Committee and the Risk Committee of the Board of Directors. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="93%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities and private placements rated as investment grade BBB or higher<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>98%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Government debt securities as a per cent of total debt securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>38%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Government private placements as a per cent of total private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Highest exposure to a single <FONT STYLE="white-space:nowrap">non-government</FONT> debt security and private
placement issuer</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,013</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,044</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Largest single issuer as a per cent of the total equity portfolio</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income producing commercial office properties (2018 &#150; 55% of real estate, 2017 &#150; 64%)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,065</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">8,836</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Largest concentration of mortgages and real estate<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP> &#150; Ontario Canada (2018 &#150; 26%, 2017 &#150; 25%)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;16,092</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;14,779</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Investment grade debt securities and private placements include 41% rated A, 17% rated AA and 17% rated AAA (2017 &#150;
42%, 16% and 17%) investments based on external ratings where available. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Mortgages and real estate investments are diversified geographically and by property type. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Debt securities and private placements portfolio by sector and industry. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:7pt; font-family:ARIAL" ALIGN="center">2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Carrying&nbsp;value</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL" ALIGN="right">%&nbsp;of&nbsp;total</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Carrying&nbsp;value</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL" ALIGN="right">%&nbsp;of&nbsp;total</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>73,858</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>33</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">71,888</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Utilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>41,929</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40,568</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Financial</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>31,340</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,923</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Energy</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,685</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,428</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Industrial</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,508</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,691</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Consumer <FONT STYLE="white-space:nowrap">(non-cyclical)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,483</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,009</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Consumer (cyclical)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,707</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,916</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Securitized</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,300</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,577</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Telecommunications</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,716</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,324</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Basic materials</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,539</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,248</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Technology</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,352</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,475</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Media and internet</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,112</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,136</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Diversified and miscellaneous</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>819</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">949</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12pt; font-size:8pt; font-family:ARIAL">Total</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;221,348</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>100</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;206,132</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">100</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(g) Insurance risk </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Insurance risk is the risk of loss due to actual experience for mortality and morbidity claims, policyholder behaviour and expenses emerging differently than assumed when
a product was designed and priced. A variety of assumptions are made related to these experience factors, for reinsurance costs, and for sales levels when products are designed and priced, as well as in the determination of policy liabilities.
Assumptions for future claims are generally based on both Company and industry experience, and assumptions for future policyholder behaviour and expenses are generally based on Company experience. Such assumptions require significant professional
judgment, and actual experience may be materially different than the assumptions made by the Company. Claims may be impacted unexpectedly by changes in the prevalence of diseases or illnesses, medical and technology advances, widespread lifestyle
changes, natural disasters, large-scale <FONT STYLE="white-space:nowrap">man-made</FONT> disasters and acts of terrorism. Policyholder behaviour including premium payment patterns, policy renewals, lapse rates and withdrawal and surrender activity
are influenced by many factors including market and general economic conditions, and the availability and relative attractiveness of other products in the marketplace. Some reinsurance rates are not guaranteed and may be changed unexpectedly.
Adjustments the Company seeks to make to <FONT STYLE="white-space:nowrap">Non-Guaranteed</FONT> elements to reflect changing experience factors may be challenged by regulatory or legal action and the Company may be unable to implement them or may
face delays in implementation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company manages insurance risk through global policies, standards and best practices with respect to product design, pricing,
underwriting and claim adjudication, and a global underwriting manual. Each business unit establishes underwriting policies and procedures, including criteria for approval of risks and claims adjudication policies and procedures. The current global
life retention </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>151</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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<p Style='page-break-before:always'>
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limit is US$30 for individual policies (US$35 for survivorship life policies) and is shared across businesses. Lower limits are applied in some markets and jurisdictions. The Company aims to
further reduce exposure to claims concentrations by applying geographical aggregate retention limits for certain covers. Enterprise-wide, the Company aims to reduce the likelihood of high aggregate claims by operating globally, insuring a wide range
of unrelated risk events, and reinsuring some risk. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(h) Concentration risk </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The geographic concentration of the Company&#146;s insurance and investment contract liabilities, including embedded derivatives, is shown below. The disclosure is based
on the countries in which the business is written. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Gross&nbsp;liabilities</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Reinsurance<BR>assets</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Net&nbsp;liabilities</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12pt; font-size:8pt; font-family:ARIAL">U.S. and Canada</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>246,255</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(42,634</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>203,621</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12pt; font-size:8pt; font-family:ARIAL">Asia and Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>85,830</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(419</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>85,411</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;332,085</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(43,053</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;289,032</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Gross liabilities</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Reinsurance<BR>assets</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Net liabilities</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12pt; font-size:8pt; font-family:ARIAL">U.S. and Canada</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">237,434</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(30,225</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">207,209</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12pt; font-size:8pt; font-family:ARIAL">Asia and Other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">70,521</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(134</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">70,387</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">307,955</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(30,359</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">277,596</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(i) Reinsurance risk </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the normal course of business, the Company limits the amount of loss on any one policy by reinsuring certain levels of risk with other insurers. In addition, the
Company accepts reinsurance from other reinsurers. Reinsurance ceded does not discharge the Company&#146;s liability as the primary insurer. Failure of reinsurers to honour their obligations could result in losses to the Company; consequently,
allowances are established for amounts deemed uncollectible. To minimize losses from reinsurer insolvency, the Company monitors the concentration of credit risk both geographically and with any one reinsurer. In addition, the Company selects
reinsurers with high credit ratings. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018, the Company had $43,053 (2017 &#150; $30,359) of reinsurance assets. Of this, 94 per cent (2017
&#150;&nbsp;92 per cent) were ceded to reinsurers with Standard and Poor&#146;s ratings of <FONT STYLE="white-space:nowrap">A-</FONT> or above. The Company&#146;s exposure to credit risk was mitigated by $24,435 fair value of collateral held as
security as at December&nbsp;31, 2018 (2017 &#150; $13,855). Net exposure after considering offsetting agreements and the benefit of the fair value of collateral held was $18,618 as at December&nbsp;31, 2018 (2017 &#150; $16,504). </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_10"></A>Note 10&nbsp;&nbsp;&nbsp;&nbsp;Long-Term Debt </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Carrying value of long-term debt instruments </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL">Issue date</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL">Maturity date</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Par value</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">4.70% Senior notes<SUP STYLE="font-size:85%; vertical-align:top">(1),(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">June&nbsp;23, 2016</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">June&nbsp;23, 2046</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">US$&nbsp;&nbsp;1,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,355</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5.375% Senior notes<SUP STYLE="font-size:85%; vertical-align:top">(2),(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">March&nbsp;4,&nbsp;2016</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">March&nbsp;4,&nbsp;2046</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">US$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,010</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">928</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">3.527% Senior notes<SUP STYLE="font-size:85%; vertical-align:top">(2),(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">December&nbsp;2,&nbsp;2016</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">December&nbsp;2,&nbsp;2026</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">US$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>367</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">338</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">4.150% Senior notes<SUP STYLE="font-size:85%; vertical-align:top">(2),(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">March&nbsp;4, 2016</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">March&nbsp;4, 2026</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">US$&nbsp;&nbsp;1,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,356</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">4.90% Senior notes<SUP STYLE="font-size:85%; vertical-align:top">(2),(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">September&nbsp;17,&nbsp;2010</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">September&nbsp;17,&nbsp;2020</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">US$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>681</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">626</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5.505% Medium-term
notes<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">June&nbsp;26, 2008</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">June&nbsp;26, 2018</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">400</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;4,769</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;4,784</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">MFC may redeem the notes in whole, but not in part, on June&nbsp;23, 2021 and thereafter on every June&nbsp;23, at a
redemption price equal to par, together with accrued and unpaid interest. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">MFC may redeem the senior notes in whole or in part, at any time, at a redemption price equal to the greater of par and a
price based on the yield of a corresponding U.S. Treasury bond plus a specified number of basis points. The specified number of basis points is as follows: 5.375% &#150; 40 bps, 3.527% &#150; 20 bps, 4.150% &#150; 35 bps, and 4.90% &#150; 35 bps.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">These U.S. dollar senior notes have been designated as hedges of the Company&#146;s net investment in its U.S. operations
which reduces the earnings volatility that would otherwise arise from the <FONT STYLE="white-space:nowrap">re-measurement</FONT> of these senior notes into Canadian dollars. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">On June&nbsp;26, 2018, the 5.505% Medium term notes matured. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The cash amount of interest paid on long-term debt during the year ended December&nbsp;31, 2018 was $222 (2017 &#150; $324). Issue costs are amortized over the term of
the debt. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Fair value measurement </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Fair
value of a long-term debt instrument is determined using quoted market prices where available (Level 1). When quoted market prices are not available, fair value is determined with reference to quoted prices of a debt instrument with similar
characteristics or estimated using discounted cash flows using observable market rates (Level 2). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Long-term debt is measured at amortized cost in the Consolidated
Statements of Financial Position. As at December&nbsp;31, 2018, the fair value of long-term debt was $4,886 (2017 &#150; $5,186). Long-term debt was categorized in Level&nbsp;2 of the fair value hierarchy (2017&nbsp;&#150;&nbsp;Level&nbsp;2). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>152</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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<p Style='page-break-before:always'>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Aggregate maturities of long-term debt </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:12.pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:12.pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Less than one year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">400</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">One to two years</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>681</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Two to three years</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">626</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Greater than five years</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,088</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,758</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12.pt; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;4,769</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;4,784</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_11"></A>Note 11&nbsp;&nbsp;&nbsp;&nbsp;Capital Instruments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Carrying value of capital instruments </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Issuance date</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Earliest&nbsp;par&nbsp;redemption<BR>date</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Maturity date</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Par value</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">7.535% MFCT II Senior debenture notes<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">July&nbsp;10, 2009</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">December&nbsp;31,&nbsp;2019</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">December&nbsp;31,&nbsp;2108</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;1,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,000</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">JHFC Subordinated notes<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">December&nbsp;14,&nbsp;2006</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">n/a</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">December&nbsp;15, 2036</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>647</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">647</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">4.061% MFC Subordinated notes<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;24, 2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;24,&nbsp;2027</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;24, 2032</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">US$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,017</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">935</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">3.00% MFC Subordinated notes<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">November&nbsp;21,&nbsp;2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">November&nbsp;21,&nbsp;2024</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">November&nbsp;21,&nbsp;2029</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">S$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>498</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">467</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">3.049% MFC Subordinated debentures<SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">August&nbsp;18, 2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">August&nbsp;20, 2024</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">August&nbsp;20, 2029</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>747</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">746</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">3.317% MFC Subordinated debentures<SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">May&nbsp;9, 2018</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">May&nbsp;9, 2023</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">May&nbsp;9, 2028</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>597</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">3.181% MLI Subordinated debentures<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">November&nbsp;20, 2015</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">November&nbsp;22, 2022</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">November&nbsp;22, 2027</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;1,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>997</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">996</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">3.85% MFC Subordinated notes<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">May&nbsp;25, 2016</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">May&nbsp;25, 2021</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">May&nbsp;25, 2026</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">S$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>499</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">467</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">2.389% MLI Subordinated debentures<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">June&nbsp;1, 2015</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">January&nbsp;5, 2021</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">January&nbsp;5, 2026</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>349</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">349</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">2.10% MLI Subordinated debentures<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">March&nbsp;10, 2015</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">June&nbsp;1, 2020</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">June&nbsp;1, 2025</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>749</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">748</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">2.64% MLI Subordinated debentures<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">December&nbsp;1, 2014</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">January&nbsp;15, 2020</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">January&nbsp;15, 2025</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">499</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">2.811% MLI Subordinated debentures<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;21, 2014</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;21, 2019</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;21, 2024</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">499</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">7.375% JHUSA Surplus notes<SUP STYLE="font-size:85%; vertical-align:top">(7)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;25, 1994</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">n/a</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;15, 2024</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">US$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>632</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">584</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">2.926% MLI Subordinated debentures<SUP STYLE="font-size:85%; vertical-align:top">(8)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">November&nbsp;29, 2013</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">November&nbsp;29, 2018</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">November&nbsp;29, 2023</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">250</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">2.819% MLI Subordinated debentures<SUP
STYLE="font-size:85%; vertical-align:top">(8)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">February&nbsp;25, 2013</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">February&nbsp;26, 2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">February&nbsp;26, 2023</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">200</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12.pt; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;8,732</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;8,387</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Issued by MLI to Manulife Financial Capital Trust II (MFCT II), a wholly owned unconsolidated related party to the
Company. On the earliest par redemption date and on every fifth anniversary thereafter (each, a &#147;Interest Reset Date&#148;), the rate of interest will reset to equal the yield on <FONT STYLE="white-space:nowrap">5-year</FONT> Government of
Canada bonds plus 5.2%. With regulatory approval, MLI may redeem the debentures, in whole or in part, on the earliest par redemption date and on any Interest Reset Date, at a redemption price equal to par, together with accrued and unpaid interest.
The redemption price for the debentures redeemed on any day that is not an Interest Reset Date will be equal to the greater of par or the fair value of the debt based on the yield on uncallable Government of Canada bonds to the next Interest Reset
Date plus (a) 1.0325% if the redemption date is on or after December&nbsp;31, 2014, but prior to December&nbsp;31, 2019, or (b) 2.065% if the redemption date is after December&nbsp;31, 2019, together with accrued and unpaid interest. Refer to note
17. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Issued by Manulife Holdings (Delaware) LLC (&#147;MHDLL&#148;), now John Hancock Financial Corporation (&#147;JHFC&#148;),
a wholly owned subsidiary of MFC, to Manulife Finance (Delaware) LLC (&#147;MFLLC&#148;), a subsidiary of Manulife Finance (Delaware) L.P. (&#147;MFLP&#148;). MFLP and its subsidiaries are wholly owned unconsolidated related parties to the Company.
The note bears interest at a floating rate equal to the <FONT STYLE="white-space:nowrap">90-day</FONT> Bankers&#146; Acceptance rate plus 0.72%. With regulatory approval, JHFC may redeem the note, in whole or in part, at any time, at par, together
with accrued and unpaid interest. Refer to note 17. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">On the earliest par redemption date, the interest rate will reset to equal the
<FONT STYLE="white-space:nowrap">5-Year</FONT> US&nbsp;Dollar <FONT STYLE="white-space:nowrap">Mid-Swap</FONT> Rate plus 1.647%. With regulatory approval, MFC may redeem the debentures, in whole, but not in part, on the earliest par redemption date,
at a redemption price equal to par, together with accrued and unpaid interest. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">On the earliest par redemption date, the interest rate will reset to equal the
<FONT STYLE="white-space:nowrap">5-year</FONT> Singapore Dollar Swap Rate plus a specified number of basis points. The specified number of basis points is as follows: 3.00% &#150; 83.2 bps, 3.85% &#150; 197 bps. With regulatory approval, MFC may
redeem the debentures, in whole, but not in part, on the earliest par redemption date and thereafter on each interest payment date, at a redemption price equal to par, together with accrued and unpaid interest. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Interest is fixed for the period up to the earliest par redemption date, thereafter, the interest rate will reset to a
floating rate equal to the <FONT STYLE="white-space:nowrap">90-day</FONT> Bankers&#146; Acceptance rate plus a specified number of basis points. The specified number of basis points is as follows: 3.049% &#150; 105 bps, 3.317% &#150; 78 bps. With
regulatory approval, MFC may redeem the debentures, in whole or in part, on or after the earliest par redemption date, at a redemption price equal to par, together with accrued and unpaid interest. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Interest is fixed for the period up to the earliest par redemption date, thereafter the interest rate will reset to a
floating rate equal to the <FONT STYLE="white-space:nowrap">90-day</FONT> Bankers&#146; Acceptance rate plus a specified number of basis points. The specified number of basis points is as follows: 3.181% &#150; 157 bps, 2.389% &#150; 83 bps, 2.10%
&#150; 72 bps, 2.64% &#150; 73 bps, 2.811% &#150; 80 bps. With regulatory approval, MLI may redeem the debentures, in whole or in part, on or after the earliest par redemption date, at a redemption price equal to par, together with accrued and
unpaid interest. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(7)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Issued by John Hancock Mutual Life Insurance Company, now John Hancock Life Insurance Company (U.S.A.). Any payment of
interest or principal on the surplus notes requires prior approval from the Department of Insurance and Financial Services of the State of Michigan. The carrying value of the surplus notes reflects an unamortized fair value increment of US$20 (2017
&#150; US$23), which arose as a result of the acquisition of John Hancock Financial Services, Inc. The amortization of the fair value adjustment is recorded in interest expense. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(8)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">MLI redeemed in full the 2.926% and 2.819% subordinated debentures at par, on November&nbsp;29, 2018 and February&nbsp;26,
2018, respectively, the earliest par redemption dates. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Fair value measurement </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Fair value of capital instruments is determined using quoted market prices where available (Level 1). When quoted market prices are not available fair value is determined
with reference to quoted prices of debt instruments with similar characteristics or estimated using discounted cash flows using observable market rates (Level 2). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Capital instruments are measured at amortized cost in the Consolidated Statements of Financial Position. As at December&nbsp;31, 2018, the fair value of capital
instruments was $8,712 (2017 &#150; $8,636). Capital instruments were categorized in Level&nbsp;2 of the fair value hierarchy (2017 &#150; Level&nbsp;2). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>153</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_12"></A>Note 12&nbsp;&nbsp;&nbsp;&nbsp;Share Capital and Earnings Per
Share </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The authorized capital of MFC consists of: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">an unlimited number of common shares without nominal or par value; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">an unlimited number of Class&nbsp;A, Class&nbsp;B and Class&nbsp;1 preferred shares without nominal or par value, issuable
in series. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Preferred shares </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The changes in issued and outstanding preferred shares are as follows. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>2018</B></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Number&nbsp;of<BR>shares</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;millions)</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Amount</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Number&nbsp;of<BR>shares</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;millions)</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Amount</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, January&nbsp;1</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>146</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;3,577</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;3,577</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issued, Class&nbsp;1 shares, Series 25<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issuance costs, net of tax</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(5</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>Balance, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>156</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>3,822</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL" ALIGN="right">146</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL" ALIGN="right">3,577</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:15.pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">On February&nbsp;20, 2018, MFC issued 10&nbsp;million of <FONT STYLE="white-space:nowrap">Non-Cumulative</FONT> Rate Reset
Class&nbsp;1 Shares Series 25 at a price of $25 per share for gross proceeds of $250. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Additional information for the outstanding preferred shares
as at December&nbsp;31, 2018 </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


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<TD></TD>
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<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
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<TD VALIGN="bottom" WIDTH="3%"></TD>
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<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
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<TD VALIGN="bottom" WIDTH="1%"></TD>
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<TD HEIGHT="5"></TD>
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<TD HEIGHT="5" COLSPAN="4"></TD>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Issue date</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Annual<BR>dividend<BR>rate<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Earliest&nbsp;redemption<BR>date<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Number of<BR>shares</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;millions)</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Face<BR>amount</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Net<BR>amount<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="4"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Class&nbsp;A preferred shares</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 2</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">February&nbsp;18,&nbsp;2005</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.65%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">350</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>344</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 3</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">January&nbsp;3, 2006</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.50%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>294</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="4"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Class&nbsp;1 preferred shares</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 3<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">March&nbsp;11, 2011</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.178%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">June&nbsp;19, 2021</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">158</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>155</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 4</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">June&nbsp;20, 2016</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">floating</TD>
<TD NOWRAP VALIGN="bottom"><SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP>&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>41</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 5<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">December&nbsp;6,&nbsp;2011</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.891%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">December&nbsp;19,&nbsp;2021</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>195</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 7<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">February&nbsp;22, 2012</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.312%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">March&nbsp;19, 2022</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">250</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>244</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 9<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">May&nbsp;24, 2012</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.351%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">September&nbsp;19,&nbsp;2022</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">250</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>244</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 11<SUP STYLE="font-size:85%; vertical-align:top">(4),(5),(7)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">December&nbsp;4, 2012</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.731%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">March&nbsp;19, 2023</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>196</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 13<SUP STYLE="font-size:85%; vertical-align:top">(4),(5),(8)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">June&nbsp;21, 2013</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.414%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">September&nbsp;19, 2023</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>196</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 15<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">February&nbsp;25, 2014</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.90%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">June&nbsp;19, 2019</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>195</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 17<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">August&nbsp;15, 2014</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.90%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">December&nbsp;19, 2019</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">350</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>343</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 19<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">December&nbsp;3, 2014</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.80%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">March&nbsp;19, 2020</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">250</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>246</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 21<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">February&nbsp;25, 2016</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.60%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">June&nbsp;19, 2021</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">425</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>417</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series 23<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">November&nbsp;22,&nbsp;2016</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.85%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">March&nbsp;19, 2022</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">475</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>467</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Series
25<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">February&nbsp;20, 2018</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4.70%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">June&nbsp;19, 2023</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">250</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>245</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL" ALIGN="right">156</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;3,900</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;3,822</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Holders of Class&nbsp;A and Class&nbsp;1 preferred shares are entitled to receive
<FONT STYLE="white-space:nowrap">non-cumulative</FONT> preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Redemption of all preferred shares is subject to regulatory approval. MFC may redeem each series, in whole or in part, at
par, on the earliest redemption date or every five years thereafter, with the exception of Class&nbsp;A Series 2, Class&nbsp;A Series 3 and Class&nbsp;1 Series 4 preferred shares. Class&nbsp;A Series 2 and Series 3 preferred shares are past their
respective earliest redemption date and MFC may redeem these shares, in whole or in part, at par at any time, subject to regulatory approval, as noted. MFC may redeem the Class&nbsp;1 Series 4, in whole or in part, at any time, at $25.00 per share
if redeemed on June&nbsp;19, 2021 and on June&nbsp;19 every five years thereafter, or at $25.50 per share if redeemed on any other date after June&nbsp;19, 2016, subject to regulatory approval, as noted. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Net of <FONT STYLE="white-space:nowrap">after-tax</FONT> issuance costs. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">On the earliest redemption date and every five years thereafter, the annual dividend rate will be reset to the five-year
Government of Canada bond yield plus a yield specified for each series. The specified yield for Class&nbsp;1 shares is: Series 3 &#150; 1.41%, Series 5 &#150; 2.90%, Series 7 &#150; 3.13%, Series 9 &#150; 2.86%, Series 11 &#150; 2.61%,
Series&nbsp;13&nbsp;&#150;&nbsp;2.22%, Series 15 &#150; 2.16%, Series 17 &#150; 2.36%, Series 19 &#150; 2.30%, Series 21 &#150; 4.97%, Series 23 &#150; 3.83% and Series 25 &#150; 2.55%. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">On the earliest redemption date and every five years thereafter, Class&nbsp;1 preferred shares are convertible at the
option of the holder into a new series that is one number higher than their existing series, and the holders are entitled to <FONT STYLE="white-space:nowrap">non-cumulative</FONT> preferential cash dividends, payable quarterly if and when declared
by the Board of Directors, at a rate equal to the three month Government of Canada Treasury bill yield plus the rate specified in footnote 4 above. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The floating dividend rate for the Class&nbsp;1 Shares Series 4 equals the three-month Government of Canada Treasury bill
yield plus 1.41%. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(7)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">MFC did not exercise its right to redeem all or any of the outstanding Class&nbsp;1 Shares Series 11 on March&nbsp;19,
2018 (the earliest redemption date). Dividend rate for Class&nbsp;1 Shares Series 11 was reset as specified in footnote 4 above to an annual fixed rate of 4.731% for a five-year period commencing on March&nbsp;20, 2018. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(8)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">MFC did not exercise its right to redeem all or any of the outstanding Class&nbsp;1 Shares Series 13 on September&nbsp;19,
2018 (the earliest redemption date). Dividend rate for Class&nbsp;1 Shares Series 13 was reset as specified in footnote 4 above to an annual fixed rate of 4.414% for a five-year period commencing on September&nbsp;20, 2018. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>154</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Common shares </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The changes in common shares issued and outstanding are as follows. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>2018</B></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Number&nbsp;of<BR>shares</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Amount</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Number&nbsp;of<BR>shares</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Amount</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, January&nbsp;1</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,982</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>22,989</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,975</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">22,865</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Repurchased for cancellation</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(23</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(269</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issued under dividend reinvestment plan</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>182</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issued on exercise of stock options and deferred share units</P></TD>

<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>59</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,971</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;22,961</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,982</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;22,989</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Normal Course Issuer Bid </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">On November&nbsp;12, 2018, the Company announced that the Toronto Stock Exchange approved a normal course issuer bid (&#147;NCIB&#148;) permitting the purchase for
cancellation of up to 40&nbsp;million MFC common shares. Purchases under the NCIB commenced on November&nbsp;14, 2018 and may continue until November&nbsp;13, 2019, when the NCIB expires, or such earlier date as the Company completes its purchases.
As at December 31, 2018, the Company had repurchased 23 million shares for $478. Of this, $269 was recorded in common shares and $209 was recorded in retained earnings in the Consolidated Statements of Changes in Equity. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Dividend Reinvestment Plan </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company offers a
Dividend Reinvestment Program (&#147;DRIP&#148;) whereby shareholders may elect to automatically reinvest dividends in the form of MFC common shares instead of receiving cash. The offering of the program and its terms of execution are subject to the
Board of Directors&#146; discretion. For the first three quarters of 2018, common shares in connection with DRIP were purchased on the open market with no applicable discount. For the dividend paid on December&nbsp;19, 2018, the required common
shares were purchased from treasury with a two per cent (2%) discount from the market price. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Earnings per share </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents basic and diluted earnings per common share of the Company. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Basic earnings per common share</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2.34</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Diluted earnings per common share</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2.33</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.98</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following is a reconciliation of the denominator (number of shares) in the calculation of basic and diluted earnings per share. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Weighted average number of common shares (in millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,983</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,978</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Dilutive stock-based awards<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP> (in millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Weighted average number of diluted common shares (in
millions)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,988</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,986</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The dilutive effect of stock-based awards was calculated using the treasury stock method. This method calculates the
number of incremental shares by assuming the outstanding stock-based awards are (i)&nbsp;exercised and (ii)&nbsp;then reduced by the number of shares assumed to be repurchased from the issuance proceeds, using the average market price of MFC common
shares for the year. Excluded from the calculation was a weighted average of 7&nbsp;million (2017 &#150; 2 million) anti-dilutive stock-based awards. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(d) Quarterly dividend declaration subsequent to year end </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">On February&nbsp;13, 2019, the Company&#146;s Board of Directors approved a quarterly dividend of $0.25 per share on the common shares of MFC, payable on or after
March&nbsp;19, 2019 to shareholders of record at the close of business on February&nbsp;27, 2019. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Board also declared dividends on the following <FONT
STYLE="white-space:nowrap">non-cumulative</FONT> preferred shares, payable on or after March&nbsp;19, 2019 to shareholders of record at the close of business on February&nbsp;27, 2019. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Class&nbsp;A Shares Series 2 &#150; $0.29063 per share</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Class&nbsp;1 Shares Series 13 &#150; $0.275875 per share</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Class&nbsp;A Shares Series 3 &#150; $0.28125 per share</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Class&nbsp;1 Shares Series 15 &#150; $0.24375 per share</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Class&nbsp;1 Shares Series 3 &#150; $0.136125 per share</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Class&nbsp;1 Shares Series 17 &#150; $0.24375 per share</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Class&nbsp;1 Shares Series 4 &#150; $0.193315 per share</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Class&nbsp;1 Shares Series 19 &#150; $0.2375 per share</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Class&nbsp;1 Shares Series 5 &#150; $0.243188 per share</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Class&nbsp;1 Shares Series 21 &#150; $0.35 per share</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Class&nbsp;1 Shares Series 7 &#150; $0.2695 per share</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Class&nbsp;1 Shares Series 23 &#150; $0.303125 per share</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Class&nbsp;1 Shares Series 9 &#150; $0.271938 per share</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Class&nbsp;1 Shares Series 25 &#150; $0.29375 per share</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Class&nbsp;1 Shares Series 11 &#150; $0.295688 per share</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_13"></A>Note 13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Management </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Capital management </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company monitors and
manages its consolidated capital in compliance with the Life Insurance Capital Adequacy Test (&#147;LICAT&#148;) guideline, the new capital framework issued by the Office of the Superintendent of Financial Institutions (&#147;OSFI&#148;) that became
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>155</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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effective on January&nbsp;1, 2018. Under this new capital framework, the Company&#146;s consolidated capital resources, including available capital, surplus allowance, and eligible deposits, are
measured against the base solvency buffer, which is the risk-based capital requirement determined in accordance with the guideline. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s operating
activities are mostly conducted within MLI and its subsidiaries. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MLI is also regulated by OSFI and is therefore subject to consolidated risk-based capital
requirements using the OSFI LICAT framework. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company seeks to manage its capital with the objectives of: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Operating with sufficient capital to be able to honour all commitments to its policyholders and creditors with a high degree
of confidence; </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Retaining the ongoing confidence of regulators, policyholders, rating agencies, investors and other creditors in order to
ensure access to capital markets; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Optimizing return on capital to meet shareholders&#146; expectations subject to constraints and considerations of adequate
levels of capital established to meet the first two objectives. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Capital is managed and monitored in accordance with the Capital Management Policy.
The policy is reviewed and approved by the Board of Directors annually and is integrated with the Company&#146;s risk and financial management frameworks. It establishes guidelines regarding the quantity and quality of capital, internal capital
mobility, and proactive management of ongoing and future capital requirements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The capital management framework takes into account the requirements of the Company as
a whole as well as the needs of each of the Company&#146;s subsidiaries. Internal capital targets are set above the regulatory requirements, and consider a number of factors, including expectations of regulators and rating agencies, results of
sensitivity and stress testing and the Company&#146;s own risk assessments. The Company monitors against these internal targets and initiates actions appropriate to achieving its business objectives. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Consolidated capital, based on accounting standards, is presented in the table below for MFC. For regulatory reporting purposes, LICAT available capital is based on
consolidated capital with adjustments for certain deductions, limits and restrictions, as mandated by the LICAT guideline. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidated
capital </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total equity</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;47,151</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;42,163</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjusted for AOCI loss on cash flow hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(127</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(109</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total equity excluding AOCI on cash flow hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>47,278</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,272</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Qualifying capital instruments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>8,732</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,387</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Consolidated capital</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>56,010</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">50,659</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Restrictions on dividends and capital distributions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Dividends and capital distributions are restricted under the Insurance Company Act (&#147;ICA&#148;). These restrictions apply to both the Company and its primary
operating subsidiary MLI. The ICA prohibits the declaration or payment of any dividend on shares of an insurance company if there are reasonable grounds for believing a company does not have adequate capital and adequate and appropriate forms of
liquidity or the declaration or the payment of the dividend would cause the company to be in contravention of any regulation made under the ICA respecting the maintenance of adequate capital and adequate and appropriate forms of liquidity, or of any
direction made to the company by OSFI. The ICA also requires an insurance company to notify OSFI of the declaration of a dividend at least 15 days prior to the date fixed for its payment. Similarly, the ICA prohibits the purchase for cancellation of
any shares issued by an insurance company or the redemption of any redeemable shares or other similar capital transactions, if there are reasonable grounds for believing that the company does not have adequate capital and adequate and appropriate
forms of liquidity or the payment would cause the company to be in contravention of any regulation made under the ICA respecting the maintenance of adequate capital and adequate and appropriate forms of liquidity, or any direction made to the
company by OSFI. These latter transactions would require the prior approval of OSFI. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The ICA requires Canadian insurance companies to maintain adequate levels of
capital at all times. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Since the Company is a holding company that conducts all of its operations through regulated insurance subsidiaries (or companies owned
directly or indirectly by these subsidiaries), its ability to pay future dividends will depend on the receipt of sufficient funds from its regulated insurance subsidiaries. These subsidiaries are also subject to certain regulatory restrictions under
laws in Canada, the United States and certain other countries that may limit their ability to pay dividends or make other upstream distributions. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company and MLI
have covenanted for the benefit of holders of the outstanding Trust II Notes &#150; Series I (the &#147;Notes&#148;) that, if interest is not paid in full in cash on the Notes on any interest payment date or if MLI elects that holders of Notes
invest interest </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>156</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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payable on the Notes on any interest payment date in a new series of Manufacturers Life Class&nbsp;1 Shares, MLI will not declare or pay cash dividends on any MLI Public Preferred Shares (as
defined below), if any are outstanding, and if no MLI Public Preferred Shares are outstanding, MFC will not declare or pay cash dividends on its Preferred Shares and Common Shares, in each case, until the sixth month following such deferral date.
&#147;MLI Public Preferred Shares&#148; means, at any time, preferred shares of MLI which at that time: (a)&nbsp;have been issued to the public (excluding any preferred shares of MLI held beneficially by affiliates of MLI); (b) are listed on a
recognized stock exchange; and (c)&nbsp;have an aggregate liquidation entitlement of at least $200, however, if at any time, there is more than one class of MLI Public Preferred Shares outstanding, then the most senior class or classes of
outstanding MLI Public Preferred Shares shall, for all purposes, be the MLI Public Preferred Shares. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_14"></A>Note
14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue from Service Contracts </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company provides investment management services, administrative services, distribution
and related services to proprietary and third-party investment funds, retirement plans, group benefit plans and other arrangements. The Company also provides real estate management services to tenants of the Company&#146;s investment properties.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s service contracts generally impose single performance obligations, each consisting of a series of similar related services for each customer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s performance obligations within service arrangements are generally satisfied over time as the customer simultaneously receives and consumes the benefits
of the services rendered, measured using an output method. Fees typically include variable consideration and the related revenue is recognized to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue
recognized will not occur when the uncertainty is subsequently resolved. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Asset based fees vary with asset values of accounts under management, subject to market
conditions and investor behaviors beyond the Company&#146;s control. Transaction processing and administrative fees vary with activity volume, also beyond the Company&#146;s control. Some fees, including distribution fees, are based on account
balances and transaction volumes. Fees related to account balances and transaction volumes are measured daily. Real estate management service fees include fixed portions plus recovery of variable costs of services rendered to tenants. Fees related
to services provided are generally recognized as services are rendered, which is when it becomes highly probable that no significant reversal of cumulative revenue recognized will occur. The Company has determined that its service contracts have no
significant financing components as fees are collected monthly. The Company has no significant contract assets or contract liabilities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following tables present
revenue from service contracts by service lines and reporting segments as disclosed in note 19. </P> <P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
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<TD></TD>
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<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
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<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>December&nbsp;31, 2018</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Asia</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">U.S.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Global<BR>WAM</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Corporate<BR>and&nbsp;Other</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment management and other related fees</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>328</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>149</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>521</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,805</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(236</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,567</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Transaction processing, administration, and service fees</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>226</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>854</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,939</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,036</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Distribution fees and other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>255</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>49</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>617</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>724</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(30</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,615</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total included in other revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>809</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,052</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,155</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,468</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(266</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,218</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate management services reported in net investment
income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>160</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>147</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>348</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>840</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,212</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,302</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,468</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(256</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>8,566</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>December&nbsp;31, 2017</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Asia</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">U.S.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Global<BR>WAM</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Corporate<BR>and&nbsp;Other</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment management and other related fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">351</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">137</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">569</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,397</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(232</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,222</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Transaction processing, administration, and service fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">206</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">871</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,978</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,075</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Distribution fees and other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">269</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">626</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">785</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(42</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,702</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total included in other revenue</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">826</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,072</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,212</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,160</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(271</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,999</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate management services reported in net investment
income</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">161</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">156</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">344</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;848</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,233</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,368</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;5,160</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(266</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;8,343</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_15"></A>Note 15&nbsp;&nbsp;&nbsp;&nbsp;Stock-Based Compensation </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Stock options </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company grants stock options
under its Executive Stock Option Plan (&#147;ESOP&#148;) to selected individuals. The options provide the holder the right to purchase MFC common shares at an exercise price equal to the higher of the prior day, prior
<FONT STYLE="white-space:nowrap">five-day</FONT> or prior <FONT STYLE="white-space:nowrap">ten-day</FONT> average closing market price of the shares on the Toronto Stock Exchange on the date the options are granted. The options vest over a period
not exceeding four years and expire not more than 10 years from the grant date. Effective with the 2015 grant, options may only be exercised after the fifth-year anniversary. A total of 73,600,000 common shares have been reserved for issuance under
the ESOP. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>157</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Options outstanding </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD HEIGHT="4" COLSPAN="8" BGCOLOR="#dde0da"></TD>
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<TD HEIGHT="4" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>2018</B></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Number&nbsp;of<BR> options<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;millions</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR> &nbsp;<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">)&nbsp;</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR><BR><BR> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Weighted<BR>average<BR>exercise<BR> price<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR>&nbsp;<BR>&nbsp;<BR> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Number&nbsp;of<BR> options<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;millions</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR> &nbsp;<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">)&nbsp;</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR><BR><BR> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">Weighted<BR>average<BR>exercise<BR> price<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;<BR>&nbsp;<BR>&nbsp;<BR> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Outstanding, January&nbsp;1</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>25</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;20.45</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;19.80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Granted</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>24.52</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Exercised</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17.77</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16.03</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Expired</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37.35</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39.47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forfeited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>21.24</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"> (1<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> )&nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"> 20.86<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Outstanding, December&nbsp;31</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>23</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>20.29</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> 25<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> $<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> 20.45<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Exercisable, December&nbsp;31</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>18.08</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> 12<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> $<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> 19.93<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Options outstanding</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Options exercisable</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Number&nbsp;of<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">options</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;millions</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">)&nbsp;</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR><BR><BR> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Weighted<BR>average<BR>exercise<BR> price<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR>&nbsp;<BR>&nbsp;<BR> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR><BR><BR><BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Weighted<BR>average<BR>remaining<BR>contractual<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">life</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;years)</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR>&nbsp;<BR>&nbsp;<BR>&nbsp;<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">&nbsp;</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Number&nbsp;of<BR> options<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;millions</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR> &nbsp;<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">)&nbsp;</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR><BR><BR> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Weighted<BR>average<BR>exercise<BR> price<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR>&nbsp;<BR>&nbsp;<BR> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR><BR><BR><BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL"></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right">Weighted<BR>average<BR>remaining<BR>contractual<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">life</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(in&nbsp;years)</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;<BR>&nbsp;<BR>&nbsp;<BR>&nbsp;<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL">&nbsp;</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">$12.64&nbsp;&#150;&nbsp;$20.99</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;17.27</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4.00</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;17.06</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2.09</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">$21.00&nbsp;&#150;&nbsp;$24.83</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>12</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>23.26</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6.95</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>21.27</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3.25</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>23</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>20.29</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5.49</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>18.08</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2.37</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The weighted average fair value of each option granted in 2018 has been estimated at $4.97 (2017 &#150; $5.18) using the Black-Scholes
option-pricing model. The pricing model uses the following assumptions for these options: risk-free interest rate of 2.00% (2017&nbsp;&#150;&nbsp;1.25%), dividend yield of 3.25% (2017 &#150; 3.00%), expected volatility of 28.0% (2017 &#150; 29.5%)
and expected life of 6.3 (2017 &#150; 6.7) years. Expected volatility is estimated by evaluating a number of factors including historical volatility of the share price over multi-year periods. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Compensation expense related to stock options was $9 for the year ended December&nbsp;31, 2018 (2017 &#150; $16). </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Deferred share units </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2000, the Company
granted deferred share units (&#147;DSUs&#148;) to certain employees under the ESOP. These DSUs vest over a three-year period and each DSU entitles the holder to receive one common share on retirement or termination of employment. When dividends are
paid on common shares, holders of DSUs are deemed to receive dividends at the same rate, payable in the form of additional DSUs. In 2018, nil DSUs were granted to employees under the ESOP (2017 &#150; nil). The number of DSUs outstanding was 337,000
as at December&nbsp;31, 2018 (2017 &#150; 610,000). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In addition, for certain employees and pursuant to the Company&#146;s deferred compensation program, the Company
grants DSUs under the RSU Plan which entitle the holder to receive payment in cash equal to the value of the same number of common shares plus credited dividends on retirement or termination of employment. In 2018, the Company granted 55,000 DSUs to
certain employees which vest after 34 months (2017 &#150; 23,000). In 2018, 8,000 DSUs (2017 &#150; nil) were granted to certain employees who elected to defer receipt of all or part of their annual bonus. These DSUs vested immediately. Also, in
2018, nil DSUs (2017 &#150; 43,000) were granted to certain employees to defer payment of all or part of their Restricted Share Units (&#147;RSUs&#148;) and/or Performance Share Units (&#147;PSUs&#148;). These DSUs also vested immediately. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Under the Stock Plan for <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors, each eligible director may elect to receive his or her annual director&#146;s
retainer and fees in DSUs or common shares in lieu of cash. Upon termination of the Board service, an eligible director who has elected to receive DSUs will be entitled to receive cash equal to the value of the DSUs accumulated in his or her
account, or at his or her direction, an equivalent number of common shares. A total of one million common shares have been reserved for issuance under this plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The
fair value of 141,000 DSUs issued during the year was $19.37 per unit, as at December&nbsp;31, 2018 (2017 &#150; 156,000 at $26.22 per unit). </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Number of DSUs (in thousands)</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Outstanding, January&nbsp;1</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,645</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,682</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issued</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>141</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">156</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reinvested</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>98</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Redeemed</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(346</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(279</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Forfeitures and cancellations</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"> (2<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> )&nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Outstanding, December&nbsp;31</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,538</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> 2,645<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>158</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Of the DSUs outstanding as at December&nbsp;31, 2018, 337,000 (2017 &#150; 610,000) entitle the holder to receive
common shares, 1,151,000 (2017 &#150; 1,103,000) entitle the holder to receive payment in cash and 1,050,000 (2017 &#150; 932,000) entitle the holder to receive payment in cash or common shares, at the option of the holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Compensation expense related to DSUs was $6 for the year ended December&nbsp;31, 2018 (2017 &#150; $13). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The carrying and fair value of the DSUs liability as at December&nbsp;31, 2018 was $43 (2017 &#150; $53) and was included in other liabilities. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Restricted share units and performance share units </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">For the year ended December&nbsp;31, 2018, 5.5&nbsp;million RSUs (2017 &#150; 5.6 million) and 0.8&nbsp;million PSUs (2017 &#150; 1.0 million) were granted to certain
eligible employees under MFC&#146;s Restricted Share Unit Plan. The fair value of the RSUs and PSUs granted during the year was $19.37 per unit as at December&nbsp;31, 2018 (2017 &#150; $26.22 per unit). Each RSU and PSU entitles the holder to
receive payment equal to the market value of one common share, plus credited dividends, at the time of vesting, subject to any performance conditions. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">RSUs granted
in February 2018 will vest after 34 months and PSUs granted in February 2018 will vest after 36 months from their grant date and the related compensation expense is recognized over these periods, except where the employee is eligible to retire prior
to a vesting date, in which case the cost is recognized over the period between the grant date and the date on which the employee is eligible to retire. Compensation expense related to RSUs and PSUs was $111 and $14, respectively, for the year ended
December&nbsp;31, 2018 (2017 &#150; $125 and $21, respectively). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The carrying and fair value of the RSUs and PSUs liability as at December&nbsp;31, 2018 was $128
(2017 &#150; $228) and was included in other liabilities. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(d) Global share ownership plan </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s Global Share Ownership Plan allows qualifying employees to apply up to five per cent of their annual base earnings toward the purchase of common
shares. The Company matches a percentage of the employee&#146;s eligible contributions up to a maximum amount. The Company&#146;s contributions vest immediately. All contributions are used to purchase common shares in the open market. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_16"></A>Note 16&nbsp;&nbsp;&nbsp;&nbsp; Employee Future Benefits </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company maintains defined contribution and defined benefit pension plans and other post-employment plans for employees and agents including registered (tax qualified)
pension plans that are typically funded, as well as supplemental <FONT STYLE="white-space:nowrap">non-registered</FONT> <FONT STYLE="white-space:nowrap">(non-qualified)</FONT> pension plans for executives, retiree welfare plans and disability
welfare plans that are typically not funded. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Plan characteristics </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">To reduce the financial risk associated with final average pay defined benefit pension plans and retiree welfare plans, the Company has over time closed all these plans
to new members and, in the case of pension plans, has replaced them with capital accumulation plans. The latter include defined benefit cash balance plans, 401(k) plans and/or defined contribution plans, depending on the country of employment. The
result is that final average pay pension plans account for less than 50&nbsp;per cent of the Company&#146;s global pension obligations and the number of employees who accrue these pensions declines each year. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">During the year, the Company implemented a voluntary exit program, as part of its Canadian operations transformation, and a North American voluntary early retirement
program. Combined, these two programs will result in the voluntary separation of 1,270 employees in Canada and 229 employees in the U.S. by the end of 2019. A curtailment loss of $22 resulting from these programs was recorded in earnings during the
4<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> quarter of 2018. This loss represents the increase in net defined benefit liability due to the affected employees separating sooner than had previously been assumed. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">All pension arrangements are governed by local pension committees or management, but significant plan changes require approval from the Company&#146;s Board of Directors.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s funding policy for defined benefit pension plans is to make the minimum annual contributions required by regulations in the countries in which the
plans are offered. Assumptions and methods prescribed for regulatory funding purposes typically differ from those used for accounting purposes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s
remaining defined benefit pension and/or retiree welfare plans are in the U.S., Canada, Japan, and Taiwan (China). There are also disability welfare plans in the U.S. and Canada. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The largest defined benefit pension and retiree welfare plans are the primary plans for employees in the U.S. and Canada. These are the material plans that are discussed
in the balance of this note. The Company measures its defined benefit obligations and fair value of plan assets for accounting purposes as at December&nbsp;31 each year. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>U.S. defined benefit pension and retiree welfare plans </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company operates a qualified cash balance plan that is open to new members, a closed <FONT STYLE="white-space:nowrap">non-qualified</FONT> cash balance plan, and a
closed retiree welfare plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>159</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Actuarial valuations to determine the Company&#146;s minimum funding contributions for the qualified cash balance plan
are required annually. Deficits revealed in the funding valuations must generally be funded over a period of up to seven years. It is expected that there will be no required funding for this plan in 2019. There are no plan assets set aside for the <FONT
STYLE="white-space:nowrap">non-qualified</FONT> cash balance plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The retiree welfare plan subsidizes the cost of life insurance and medical benefits. The majority
of those who retired after 1991 receive a fixed-dollar subsidy from the Company based on service. The plan was closed to all employees hired after 2004. While assets have been set aside in a qualified trust to pay future retiree welfare benefits,
this funding is optional. Retiree welfare benefits offered under the plan coordinate with the U.S. Medicare program to make optimal use of available federal financial support. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The qualified pension and retiree welfare plans are governed by the U.S. Benefits Committee, while the <FONT STYLE="white-space:nowrap">non-qualified</FONT> pension plan
is governed by the U.S. <FONT STYLE="white-space:nowrap">Non-Qualified</FONT> Plans Subcommittee. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Canadian defined benefit pension and
retiree welfare plans </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s defined benefit plans in Canada include two registered final average pay pension plans, a <FONT
STYLE="white-space:nowrap">non-registered</FONT> supplemental final average pay pension plan and a retiree welfare plan, all of which have been closed to new members. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Actuarial valuations to determine the Company&#146;s minimum funding contributions for the registered pension plans are required at least once every three years. Deficits
revealed in the funding valuation must generally be funded over a period of ten years. For 2019, the required funding for these plans is expected to be $12. The supplemental <FONT STYLE="white-space:nowrap">non-registered</FONT> pension plan is not
funded. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The retiree welfare plan subsidizes the cost of life insurance, medical and dental benefits. These subsidies are a fixed dollar amount for those who retired
after April&nbsp;30, 2013 and will be eliminated for those who retire after 2019. There are no assets set aside for this plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The registered pension plans are
governed by Pension Committees, while the supplemental <FONT STYLE="white-space:nowrap">non-registered</FONT> plan is governed by the Board of Directors. The retiree welfare plan is governed by management. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Risks </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In final average pay pension plans
and retiree welfare plans, the Company generally bears the material risks which include interest rate, investment, longevity and health care cost inflation risks. In defined contribution plans, these risks are typically borne by the employee. In
cash balance plans, the interest rate, investment and longevity risks are partially transferred to the employee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Material sources of risk to the Company for all
plans include: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">A decline in discount rates that increases the defined benefit obligations by more than the change in value of plan assets;
</P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Lower than expected rates of mortality; and </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">For retiree welfare plans, higher than expected health care costs. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company has managed these risks through plan design and eligibility changes that have limited the size and growth of the defined benefit obligations. Investment risks
for funded plans are managed through strategies aimed at improving the alignment between movements in the invested assets and movements in the obligations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the
U.S., delegated committee representatives and management review the financial status of the qualified defined benefit pension plan at least monthly, and steps are taken in accordance with an established dynamic investment policy to reduce the risk
in the plan as the funded status improves. As at December&nbsp;31, 2018, the target asset allocation for the plan was 27% return-seeking assets and 73% liability-hedging assets. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In Canada, internal committees and management review the financial status of the registered defined benefit pension plans on at least a quarterly basis. As at
December&nbsp;31, 2018, the target asset allocation for the plans was 20% return-seeking assets and 80% liability-hedging assets. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c)
Pension and retiree welfare plans </B></FONT></P>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Pension plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
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<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Retiree welfare plans</TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Changes in defined benefit obligation:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Opening balance</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,706</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,767</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>665</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">682</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Current service cost</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>42</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Past service cost &#150; amendments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Past service cost &#150; curtailments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest cost</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>165</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>24</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Plan participants&#146; contributions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Actuarial losses (gains) due to:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Experience</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Demographic assumption changes</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Economic assumption changes</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">214</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(56</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Benefits paid</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(304</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(315</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(45</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(45</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of changes in foreign exchange rates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>262</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(206</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>44</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(35</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Defined benefit obligation, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;4,675</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;4,706</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;640</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;665</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>160</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="77%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Pension plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Retiree welfare plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Change in plan assets:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fair value of plan assets, opening balance</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;4,328</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;4,277</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;587</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;603</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>153</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">164</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Return on plan assets (excluding interest income)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(315</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">312</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(16</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Employer contributions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>79</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Plan participants&#146; contributions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Benefits paid</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(304</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(315</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(45</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(45</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Administration costs</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of changes in foreign exchange rates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>254</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(191</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>51</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(38</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Fair value of plan assets, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;4,190</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;4,328</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;610</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;587</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(d) Amounts recognized in the Consolidated Statements of Financial Position </B></FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="77%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Pension plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Retiree welfare plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Development of net defined benefit liability</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Defined benefit obligation</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;4,675</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;4,706</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;640</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;665</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fair value of plan assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,190</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,328</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>610</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">587</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Deficit</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>485</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">378</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>30</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Effect of asset
limit<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Deficit and net defined benefit liability</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>494</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">378</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>30</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Deficit is comprised of:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Funded or partially funded plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(248</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(383</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(121</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(72</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Unfunded plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>742</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">761</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>151</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">150</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Deficit and net defined benefit liability</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>494</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">378</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>30</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In 2018, the Company recognized an impairment of $9 on the net defined benefit asset for one of its registered pension
plans in Canada. This was due to the conversion of most plan benefits for future service from defined benefit to defined contribution which reduced the economic benefit that can be derived by the Company from the plan&#146;s surplus. For the other
funded pension plans, the present value of the economic benefits available in the form of reductions in future contributions to the plans remains greater than the surplus that is expected to develop. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(e) Disaggregation of defined benefit obligation </B></FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="37%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>U.S. plans</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Canadian plans</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Pension plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Retiree welfare plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Pension plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Retiree welfare plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Active members</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>621</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">592</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>332</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">393</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>22</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Inactive and retired members</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,431</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,434</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>457</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">481</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,291</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,287</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>129</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;3,052</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;3,026</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;489</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;515</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,623</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,680</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;151</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;150</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(f) Fair value measurements </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The major categories of plan assets and the actual per cent allocation to each category are as follows. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="16" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="16" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>U.S. plans<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>Canadian plans<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Pension plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Retiree welfare plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="border-bottom:1.00px solid #1f320c" BGCOLOR="#dde0da">Pension plans</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="border-bottom:1.00px solid #1f320c" BGCOLOR="#dde0da">Retiree welfare plans</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">%&nbsp;of&nbsp;total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">%&nbsp;of&nbsp;total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">%&nbsp;of&nbsp;total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">%&nbsp;of&nbsp;total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash and cash equivalents</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>26</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>51</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity securities<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>38</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>269</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>20%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,088</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>73%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>514</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>85%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,033</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>79%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other
investments<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>252</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;2,866</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;610</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,324</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="16"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="16"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>U.S. plans<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Canadian plans<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Pension plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Retiree welfare plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Pension plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Retiree welfare plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">%&nbsp;of&nbsp;total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">%&nbsp;of&nbsp;total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">%&nbsp;of&nbsp;total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">%&nbsp;of&nbsp;total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash and cash equivalents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity securities<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">695</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">212</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,979</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">502</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,165</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other
investments<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">235</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;2,942</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">100%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;587</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">100%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,386</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">100%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">All the U.S. pension and retiree welfare plan assets have daily quoted prices in active markets, except for the private
equity, timber and agriculture assets. In the aggregate, the latter assets represent approximately 7% of all U.S. pension and retiree welfare plan assets as at December&nbsp;31, 2018 (2017 &#150; 6%). </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>161</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">All the Canadian pension plan assets have daily quoted prices in active markets, except for the group annuity contract
assets that represent approximately 0.2% of all Canadian pension plan assets as at December&nbsp;31, 2018 (2017 &#150; 0.3%). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Equity securities include direct investments in MFC common shares of $0.9 (2017 &#150; $1.3) in the U.S. retiree welfare
plan and $nil (2017 &#150; $nil) in Canada. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Other U.S. plan assets include investment in private equity, timberland and agriculture, and managed futures. Other
Canadian pension plan assets include investment in the group annuity contract. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(g) Net benefit cost recognized in the
Consolidated Statements of Income </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Components of the net benefit cost for the pension plans and retiree welfare plans were as follows. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="62%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Pension plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Retiree welfare plans</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Defined benefit current service cost</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>42</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Defined benefit administrative expenses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Past service cost &#150; plan amendments<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Past service cost &#150; curtailments<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Service cost</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>66</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest on net defined benefit (asset) liability</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Defined benefit cost</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>78</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Defined contribution cost</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>78</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net benefit cost</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;156</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;17</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Past service cost &#150; plan amendments includes $8, reflecting a surplus sharing agreement between the Company and
certain legacy employees in Canada, which received regulatory approval in 2018. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Past service cost &#150; curtailments includes $22 in total, reflecting the cost of the voluntary exit and voluntary
retirement programs described in section (a)&nbsp;of this note. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(h)
<FONT STYLE="white-space:nowrap">Re-measurement</FONT> effects recognized in Other Comprehensive Income </B></FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="68%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Pension plans</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Retiree welfare plans</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Actuarial gains (losses) on defined benefit obligations due to:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Experience</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Demographic assumption changes</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(35</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Economic assumption changes</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(214</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>56</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(41</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Return on plan assets (excluding interest income)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(315</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;312</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(16</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in effect of asset limit</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total <FONT STYLE="white-space:nowrap">re-measurement</FONT>
effects</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>$&nbsp;&nbsp;&nbsp;&nbsp;(109</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;48</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(i) Assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The key assumptions used by the Company to determine the defined benefit obligation and net benefit cost for the defined benefit pension plans and retiree welfare plans
were as follows. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>U.S. Plans</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Canadian Plans</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Pension plans</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Retiree welfare plans</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Pension plans</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Retiree welfare plans</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>To determine the defined benefit obligation at end of
year<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Discount rate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4.3%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.6%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4.3%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.6%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3.8%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.5%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3.8%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.6%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Initial health care cost trend rate<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7.8%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8.5%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5.7%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.9%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>To determine the defined benefit cost for the
year<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Discount rate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3.6%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.1%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3.6%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.1%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3.5%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.9%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3.6%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.0%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Initial health care cost trend rate<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"> n/a<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>8.5%</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"> 8.8%<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"> n/a<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5.9%</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"> 6.0%<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Inflation and salary increase assumptions are not shown as they do not materially affect obligations and cost.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The health care cost trend rate used to measure the U.S. based retiree welfare obligation was 7.8% grading to 5.0% for
2030 and years thereafter (2017 &#150; 8.5% grading to 5.0% for 2032) and to measure the net benefit cost was 8.5% grading to 5.0% for 2032 and years thereafter (2017 &#150; 8.8% grading to 5.0% for 2032). In Canada, the rate used to measure the
retiree welfare obligation was 5.7% grading to 4.8% for 2026 and years thereafter (2017 &#150; 5.9% grading to 4.8% for 2026) and to measure the net benefit cost was 5.9% grading to 4.8% for 2026 and years thereafter (2017 &#150; 6.0% grading to
4.8% for 2026). </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Assumptions regarding future mortality are based on published statistics and mortality tables. The current life expectancies
underlying the values of the obligations in the defined benefit pension and retiree welfare plans are as follows. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">U.S.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Life expectancy (in years) for those currently age 65</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Males</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>22.5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>23.6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Females</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>24.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>25.5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Life expectancy (in years) at age 65 for those currently age 45</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Males</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>24.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>24.6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Females</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>25.6</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>26.4</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>162</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(j) Sensitivity of assumptions on obligations </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Assumptions used can have a significant effect on the obligations reported for defined benefit pension and retiree welfare plans. The potential impact on the obligations
arising from changes in the key assumptions is set out in the following table. The sensitivities assume all other assumptions are held constant. In actuality, inter-relationships with other assumptions may exist. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Pension&nbsp;plans</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Retiree&nbsp;welfare&nbsp;plans</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Discount rate:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impact of a 1% increase</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(423</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(62</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impact of a 1% decrease</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>74</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Health care cost trend rate:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impact of a 1% increase</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impact of a 1% decrease</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>n/a</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Mortality rates<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impact of a 10% decrease</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;114</B> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;14</B> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">If the actuarial estimates of mortality are adjusted in the future to reflect unexpected decreases in mortality, the
effect of a 10% decrease in mortality rates at each future age would be an increase in life expectancy at age 65 of 0.9 years for U.S. males and females and 0.8 years for Canadian males and females. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(k) Maturity profile </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The weighted average
duration (in years) of the defined benefit obligations is as follows. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Pension plans</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Retiree welfare plans</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S. plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9.8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canadian plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> 12.8<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> 14.2<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(l) Cash flows &#150; contributions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Total cash payments for all employee future benefits, comprised of cash contributed by the Company to funded defined benefit pension and retiree welfare plans, cash
payments directly to beneficiaries in respect of unfunded pension and retiree welfare plans, and cash contributed to defined contribution pension plans, are as follows. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Pension plans</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Retiree welfare plans</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Defined benefit plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>79</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Defined contribution plans</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>78</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;157</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> $<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> &nbsp;&nbsp;162<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;10</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> $<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> &nbsp;&nbsp;12<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s best estimate of expected cash payments for employee future benefits for the year ending December&nbsp;31, 2019 is $88
for defined benefit pension plans, $78 for defined contribution pension plans and $12 for retiree welfare plans. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_17"></A>Note 17&nbsp;&nbsp;&nbsp;&nbsp;Interests in Structured Entities </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company is involved with both consolidated and unconsolidated structured entities (&#147;SEs&#148;) which are established to generate investment and fee income. The
Company is also involved with SEs that are used to facilitate financing for the Company. These entities may have some or all the following features: control is not readily identified based on voting rights; restricted activities designed to achieve
a narrow objective; high amount of leverage; and/or highly structured capital. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company only discloses its involvement in significant consolidated and
unconsolidated SEs. In assessing the significance, the Company considers the nature of its involvement with the SE, including whether it is sponsored by the Company (i.e. initially organized and managed by the Company). Other factors considered
include the Company&#146;s investment in the SE as compared to total investments, its returns from the SE as compared to total net investment income, the SE&#146;s size as compared to total funds under management, and its exposure to any other risks
from its involvement with the SE. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company does not provide financial or other support to its SEs, when it does not have a contractual obligation to do so. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Consolidated SEs </B></FONT></P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Investment SEs </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company acts as an investment
manager of timberlands and timber companies. The Company&#146;s general fund and segregated funds invest in many of these companies. The Company has control over one timberland company which it manages, Hancock Victoria Plantations Holdings PTY
Limited (&#147;HVPH&#148;). HVPH is a SE primarily because the Company&#146;s employees exercise voting rights over it on behalf of other investors. As at December&nbsp;31, 2018, the Company&#146;s consolidated timber assets relating to HVPH were
$920 (2017 &#150; $884). The Company does not provide guarantees to other parties against the risk of loss from HVPH. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Financing SEs
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company securitizes certain insured and variable rate commercial and residential mortgages and HELOC. This activity is facilitated by consolidated
entities that are SEs because their operations are limited to issuing and servicing the Company&#146;s funding. Further information regarding the Company&#146;s mortgage securitization program is included in note 3. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>163</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Unconsolidated SEs </B></FONT></P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Investment SEs </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents the
Company&#146;s investment and maximum exposure to loss from significant unconsolidated investment SEs, some of which are sponsored by the Company. The Company does not provide guarantees to other parties against the risk of loss from these SEs. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Company&#146;s
investment<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Company&#146;s maximum</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">exposure to loss<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Leveraged leases<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;3,575</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;3,273</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;3,575</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;3,273</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Timberland companies<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>788</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">736</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>821</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">786</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate
companies<SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>566</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"> 361<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>566</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right"> 361<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,929</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> $<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> 4,370<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,962</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> $<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"> 4,420<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> &nbsp;<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The Company&#146;s investments in these unconsolidated SEs are included in invested assets and the Company&#146;s returns
from them are included in net investment income and AOCI. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The Company&#146;s maximum exposure to loss from each SE is limited to amounts invested in each, plus unfunded capital
commitments, if any. The Company&#146;s investment commitments are disclosed in note 18. The maximum loss is expected to occur only upon the entity&#146;s bankruptcy/liquidation, or in case of a natural disaster in the case of the timber companies.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">These entities are statutory business trusts which use capital provided by the Company and senior debt provided by other
parties to finance the acquisition of assets. These assets are leased to third-party lessees under long-term leases. The Company owns equity capital in these business trusts. The Company does not consolidate any of the trusts that are party to the
lease arrangements because the Company does not have decision-making power over them. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">These entities own and operate timberlands. The Company invests in their equity and debt. The Company&#146;s returns
include investment income, investment advisory fees, forestry management fees and performance advisory fees. The Company does not control these entities because it either does not have the power to govern their financial and operating policies or
does not have significant variable returns from them, or both. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">These entities, which include the Manulife U.S. REIT, own and manage commercial real estate. The Company invests in their
equity. The Company&#146;s returns include investment income, investment management fees, property management fees, acquisition/disposition fees, and leasing fees. The Company does not control these entities because it either does not have the power
to govern their financial and operating policies or does not have significant variable returns from them, or both. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Financing SEs </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s interests and
maximum exposure to loss from significant unconsolidated financing SEs are as follows. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Company&#146;s interests<SUP
STYLE="font-size:85%; line-height:9.0pt ; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Finance (Delaware), L.P.<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>821</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">835</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Financial Capital Trust II<SUP
STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>999</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,000</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;1,820</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;1,835</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The Company&#146;s interests include amounts borrowed from the SEs and the Company&#146;s investment in their subordinated
capital, and foreign currency and interest swaps with them, if any. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This entity is a wholly-owned partnership used to facilitate the Company&#146;s financing. Refer to notes 11 and 18.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This entity is an open-ended trust that is used to facilitate the Company&#146;s financing. Refer to note 11.
</P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(i) Other invested assets </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company has investment relationships with a variety of other entities, which result from its direct investment in their debt and/or equity and which have been
assessed for control. These other entities&#146; investments include but are not limited to investments in power and infrastructure, oil and gas, private equity, real estate and agriculture, organized as limited partnerships and limited liability
companies. Most of these other entities are not sponsored by the Company. The Company&#146;s involvement with these other entities is not individually significant. As such, the Company neither provides summary financial data for these entities nor
individually assesses whether they are SEs. The Company&#146;s maximum exposure to losses because of its involvement with these other entities is limited to its investment in them and amounts committed to be invested but not yet funded. The Company
records its income from these entities in net investment income and AOCI. The Company does not provide guarantees to other parties against the risk of loss from these other entities. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(ii) Interest in securitized assets </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company
invests in mortgage/asset-backed securities issued by securitization vehicles sponsored by other parties, including private issuers and government sponsored issuers, to generate investment income. The Company does not own a controlling financial
interest in any of the issuers. These securitization vehicles are SEs based on their narrow scope of activities and highly leveraged capital structures. Investments in mortgage/asset-backed securities are reported on the Consolidated Statements of
Financial Position as debt securities and private placements, and their fair value and carrying value are disclosed in note 3. The Company&#146;s maximum loss from these investments is limited to amounts invested. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Commercial mortgage backed securities (&#147;CMBS&#148;) are secured by commercial mortgages and residential mortgage backed securities (&#147;RMBS&#148;) are secured by
residential mortgages. Asset-backed securities (&#147;ABS&#148;) may be secured by various underlying assets including credit card receivables, automobile loans and aviation leases. The mortgage/asset-backed securities that the Company invests in
primarily originate in North America. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>164</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table presents investments in securitized holdings by the type and asset quality. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="16" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">CMBS</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">RMBS</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">ABS</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">AAA</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,653</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>810</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,471</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,503</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">AA</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>306</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>306</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">401</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">A</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>72</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>374</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>453</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">504</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">BBB</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>70</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>70</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">142</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">BB and below</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>Total company exposure</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;1,725</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;15</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;1,560</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;3,300</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;3,576</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(iii) Mutual funds </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company sponsors and may invest in a range of public mutual funds with a broad range of investment styles. As sponsor, the Company organizes mutual funds that
implement investment strategies on behalf of current and future investors. The Company earns fees which are at market rates for providing advisory and administrative services to these mutual funds. Generally, the Company does not control its
sponsored mutual funds because either the Company does not have power to govern their financial and operating policies, or its returns in the form of fees and ownership interests are not significant, or both. Certain mutual funds are SEs because
their decision-making rights are not vested in voting equity interests and their investors are provided with redemption rights. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s relationships with
these mutual funds are not individually significant. As such, the Company neither provides summary financial data for these mutual funds nor individually assesses whether they are SEs. The Company&#146;s interest in mutual funds is limited to its
investment and fees earned, if any. The Company&#146;s investments in mutual funds are recorded as part of its investment in public equities within the Consolidated Statements of Financial Position. For information regarding the Company&#146;s
invested assets, refer to note 3. The Company does not provide guarantees to other parties against the risk of loss from these mutual funds. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As sponsor, the
Company&#146;s investment in startup capital of mutual funds as at December&nbsp;31, 2018 was $1,711 (2017 &#150; $1,918). The Company&#146;s retail mutual fund assets under management as at December&nbsp;31, 2018 were $182,219 (2017 &#150;
$191,507). </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_18"></A>Note 18&nbsp;&nbsp;&nbsp;&nbsp; Commitments and Contingencies </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Legal proceedings </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company is regularly
involved in legal actions, both as a defendant and as a plaintiff. The legal actions where the Company is a party ordinarily relate to its activities as a provider of insurance protection or wealth management products, reinsurance, or its capacity
as an investment adviser, employer, or taxpayer. Other life insurers and asset managers, operating in the jurisdictions in which the Company does business, have been subject to a wide variety of other types of actions, some of which resulted in
substantial judgments or settlements against the defendants; it is possible that the Company may become involved in similar actions in the future. In addition, government and regulatory bodies in Canada, the United States, Asia and other
jurisdictions where the Company conducts business regularly make inquiries and, from time to time, require the production of information or conduct examinations concerning the Company&#146;s compliance with, among other things, insurance laws,
securities laws, and laws governing the activities of broker-dealers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A class action against John Hancock Life Insurance Company (U.S.A.) (&#147;JHUSA&#148;) is
pending in the U.S. District Court for the Southern District of New York (the &#147;Southern District of NY&#148;) in which claims are made that JHUSA breached, and continues to breach, the contractual terms of certain universal life policies issued
between approximately 1990 and 2006 by including impermissible charges in its cost of insurance (&#147;COI&#148;) calculations and certain other rider charges. The Company believes that its COI calculations have been, and continue to be, in
accordance with the terms of the policies.&nbsp;In May 2018, the parties agreed to the financial terms of a settlement in the amount of US$91. On November&nbsp;1, 2018, the court granted preliminary approval of the US$91 settlement and scheduled a
fairness hearing for February&nbsp;19, 2019. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In June 2018, a class action was initiated against JHUSA and John Hancock Life Insurance Company of New York
(&#147;JHNY&#148;) in the Southern District of NY on behalf of owners of Performance universal life policies issued between 2003 and 2009 whose policies are subject to a COI increase announced in 2018. In October 2018, an almost identical class
action was initiated against JHUSA and JHNY in the Southern District of NY. It was filed as a related case as the one filed in June and has been assigned to the same judge. Discovery has commenced in these cases and will continue through 2019. No
hearings on substantive matters have been scheduled. It is too early to assess the range of potential outcomes for these two related lawsuits. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Investment commitments </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the normal course
of business, various investment commitments are outstanding which are not reflected in the Consolidated Financial Statements. There were $10,372 (2017 &#150; $8,235) of outstanding investment commitments as at December&nbsp;31, 2018, of which $888
(2017 &#150; $682) mature in 30 days, $3,546 (2017 &#150; $2,177) mature in 31 to 365 days and $5,938 (2017 &#150; $5,376) mature after one year. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>165</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(c) Letters of credit </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the normal course of business, third-party relationship banks issue letters of credit on the Company&#146;s behalf. The Company&#146;s businesses utilize letters of
credit for which third parties are the beneficiaries, as well as for affiliate reinsurance transactions between its subsidiaries. As at December&nbsp;31, 2018, letters of credit for which third parties are beneficiary, in the amount of $74 (2017
&#150; $77), were outstanding. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(d) Guarantees </B></FONT></P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(i) Guarantees regarding Manulife Finance (Delaware), L.P. (&#147;MFLP&#148;) </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MFC has guaranteed the payment of amounts on the $650 subordinated debentures due on December&nbsp;15, 2041 issued by MFLP, a wholly-owned unconsolidated partnership.
</P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(ii) Guarantees regarding The Manufacturers Life Insurance Company </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">On January&nbsp;29, 2007, MFC provided a subordinated guarantee, as amended and restated on January&nbsp;13, 2017, of Class&nbsp;A Shares and Class&nbsp;B Shares of MLI
and any other class of preferred shares that rank in parity with Class&nbsp;A Shares or Class&nbsp;B Shares of MLI. For the following subordinated debentures issued by MLI, MFC has provided a subordinated guarantee on the day of issuance: $500
issued on February&nbsp;21, 2014; $500 issued on December&nbsp;1, 2014; $750 issued on March&nbsp;10, 2015; $350 issued on June&nbsp;1, 2015; and $1,000 issued on November&nbsp;20, 2015. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table sets forth certain condensed consolidated financial information for MFC and MFLP. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Condensed Consolidated Statements of Income Information </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:8.0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:8.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">MFC<BR>(Guarantor)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:8.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">MLI<BR>consolidated</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:8.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Other<BR>subsidiaries
of<BR>MFC on a<BR>combined&nbsp;basis</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:8.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Consolidation<BR>adjustments</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:8.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Total<BR>consolidated<BR>amounts</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:8.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">MFLP</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total revenue</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>443</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;38,994</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;434</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(899)</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;38,972</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;62</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income (loss) attributed to shareholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;4,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,076</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(419</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;(4,657)</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>22</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">MFC<BR>(Guarantor)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">MLI<BR>consolidated</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Other<BR>subsidiaries of<BR>MFC on a<BR>combined&nbsp;basis</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Consolidation<BR>adjustments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total<BR>consolidated<BR>amounts</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">MFLP</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total revenue</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">58,445</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">270</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(574</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">58,323</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income (loss) attributed to shareholders</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,467</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(257</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;(2,210</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Condensed Consolidated Statements of Financial Position </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="77%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">MFC<BR>(Guarantor)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">MLI<BR>consolidated</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Other<BR>subsidiaries of<BR>MFC on a<BR>combined&nbsp;basis</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Consolidation<BR>adjustments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total<BR>consolidated<BR>amounts</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">MFLP</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>353,632</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;11</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;353,664</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total other assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;54,346</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>83,523</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(54,474</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>83,398</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,059</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;328,654</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>328,654</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,265</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,265</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total other liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>8,403</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>50,043</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(454</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>57,992</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>833</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">MFC<BR>(Guarantor)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">MLI<BR>consolidated</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Other<BR>subsidiaries of<BR>MFC on a<BR>combined&nbsp;basis</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Consolidation<BR>adjustments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total<BR>consolidated<BR>amounts</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">MFLP</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Invested assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">334,191</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">334,222</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total other assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;48,688</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71,180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(48,868</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71,004</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,033</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Insurance contract liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;304,605</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">304,605</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment contract liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total other liabilities</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">7,696</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">48,145</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(509</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">55,332</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">831</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(iii) Guarantees regarding John Hancock Life Insurance Company (U.S.A.) (&#147;JHUSA&#148;) </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Details of guarantees regarding certain securities issued or to be issued by JHUSA are outlined in note 23. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>166</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(e) Pledged assets </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the normal course of business, the Company pledges its assets in respect of liabilities incurred, strictly for providing collateral to the counterparty. In the event
of the Company&#146;s default, the counterparty is entitled to apply the collateral to settle the liability. The pledged assets are returned to the Company if the underlying transaction is terminated or, in the case of derivatives, if there is a
decrease in the net exposure due to market value changes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The amounts pledged are as follows. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
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<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
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<TD VALIGN="bottom" WIDTH="5%"></TD>
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<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Debt securities</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Other</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Debt securities</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Other</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">In respect of:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Derivatives</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;3,655</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>102</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,189</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Regulatory requirements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>412</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>84</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">398</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Real estate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Repurchase agreements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>64</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">228</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-registered</FONT> retirement plans in trust</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>420</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">412</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>301</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">271</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,134</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;907</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;3,818</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;815</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(f) Lease obligations </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company has a number of operating lease obligations, primarily for the use of office space. The aggregate future minimum lease payments under <FONT
STYLE="white-space:nowrap">non-cancelable</FONT> operating leases are $575 (2017 &#150; $838). Payments by year are included in the &#147;Risk Management&#148; section of the Company&#146;s 2018 MD&amp;A under Liquidity Risk. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(g) Participating business </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In some territories
where the Company maintains participating accounts, there are regulatory restrictions on the amounts of profit that can be transferred to shareholders. Where applicable, these restrictions generally take the form of a fixed percentage of
policyholder dividends. For participating businesses operating as separate &#147;closed blocks&#148;, transfers are governed by the terms of MLI&#146;s and John Hancock Mutual Life Insurance Company&#146;s plans of demutualization. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(h) Fixed surplus notes </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A third party
contractually provides standby financing arrangements for the Company&#146;s U.S. operations under which, in certain circumstances, funds may be provided in exchange for the issuance of fixed surplus notes. As at December&nbsp;31, 2018, the Company
had no fixed surplus notes outstanding. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_19"></A>Note 19&nbsp;&nbsp;&nbsp;&nbsp;Segmented Information </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, as a result of the organizational changes made to drive better alignment with the Company&#146;s strategic priorities as well as to
increase focus and leverage scale in its wealth and asset management businesses, the Company&#146;s wealth and asset management businesses are now a primary reporting segment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s reporting segments are Asia, Canada, U.S., Global WAM and Corporate and Other. Each reporting segment is responsible for managing its operating
results, developing products, defining strategies for services and distribution based on the profile and needs of its business and market. The Company&#146;s significant product and service offerings are shown below. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><B>Wealth and asset management businesses (Global WAM)</B> &#150; include mutual funds and exchange-traded funds, group retirement and savings products, and institutional
asset management services across all major asset classes. These products and services are distributed through multiple distribution channels, including agents and brokers affiliated with the Company, independent securities brokerage firms and
financial advisors, pension plan consultants and banks. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><B>Insurance and annuity products (Asia, Canada and U.S.)</B> &#150; includes a variety of individual life
insurance, individual and group long-term care insurance and guaranteed and partially guaranteed annuity products. Products are distributed through multiple distribution channels, including insurance agents, brokers, banks, financial planners and
direct marketing. Manulife Bank of Canada offers a variety of deposit and credit products to Canadian customers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><B>Corporate and Other Segment</B> &#150; comprised
of investment performance on assets backing capital, net of amounts allocated to operating segments; costs incurred by the corporate office related to shareholder activities (not allocated to the operating segments); financing costs; Property and
Casualty Reinsurance Business; and <FONT STYLE="white-space:nowrap">run-off</FONT> reinsurance operations including variable annuities and accident and health. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In
addition to changing the segments, the Company changed the segment reporting for the changes to actuarial methods and assumptions. These changes were previously reported in the Corporate and Other segment and are now reported in the respective
reporting segments. Prior period amounts have been restated to reflect these changes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>167</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>By segment </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


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<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the year ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>December&nbsp;31, 2018</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Asia</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">U.S.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Global WAM</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Corporate</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">and Other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Life and health insurance</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14,938</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,975</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,341</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>98</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>30,352</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Annuities and
pensions<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,175</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>452</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9,967</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(6,340</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net premium income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18,113</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9,427</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3,626</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>98</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>24,012</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net investment income (loss)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>278</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,764</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,723</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(225</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,532</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,296</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,446</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,542</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,472</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(328</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,428</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>19,687</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,637</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>639</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,464</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(455</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>38,972</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Contract benefits and expenses</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Life and health insurance</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,875</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,044</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,255</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(37</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>23,137</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Annuities and pensions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,986</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>518</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9,784</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>77</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(7,203</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net benefits and claims</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12,861</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,562</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(5,529</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>77</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(37</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,934</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest expense</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>187</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>447</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>56</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>583</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,275</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other expenses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,749</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,063</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,428</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,322</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>682</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>16,244</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total contract benefits and expenses</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>17,797</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>12,072</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,045</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,401</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,228</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>33,453</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income (loss) before income taxes</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,890</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,565</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,684</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,063</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,683</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,519</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income tax recovery (expense)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(355</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(321</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(352</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(108</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>504</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(632</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,535</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,244</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,332</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>955</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,179</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,887</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Less net income (loss) attributed to:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>208</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>214</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Participating policyholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(360</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>233</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(127</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss) attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,687</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,011</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,332</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>955</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,185</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;112,327</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;214,101</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;272,228</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;130,379</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;21,236</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;750,271</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the year ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>December&nbsp;31, 2017</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Asia</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">U.S.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Global WAM</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Corporate</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">and Other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Revenue</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Life and health insurance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13,145</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,322</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,778</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">24,355</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Annuities and pensions</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,568</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">443</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">844</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,855</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net premium income</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,713</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,765</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,622</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28,210</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net investment income (loss)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,044</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,560</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,657</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,367</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">933</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,862</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,039</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,158</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(246</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,746</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">20,690</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">11,187</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">21,318</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,200</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(72</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">58,323</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Contract benefits and expenses</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Life and health insurance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,881</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,018</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,193</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">268</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33,360</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Annuities and pensions</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,889</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,404</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,574</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,941</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net benefits and claims</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,770</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,422</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,767</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">268</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39,301</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest expense</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">164</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">307</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">631</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other expenses</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,360</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,069</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,374</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,193</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">386</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">15,382</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total contract benefits and expenses</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">18,294</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,798</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">21,177</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,268</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,285</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">55,822</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income (loss) before income taxes</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,396</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">389</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">141</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">932</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,357</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,501</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income tax recovery (expense)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(405</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">159</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,342</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">146</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,203</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(239</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,991</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">548</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,201</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,078</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(154</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,262</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Less net income (loss) attributed to:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">187</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">194</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Participating policyholders</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(30</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss) attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,834</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">554</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(1,201</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,078</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(161</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;96,354</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;217,813</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;263,523</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;131,779</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;20,064</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;729,533</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">During the year, the Company ceded premiums to reinsure a block of legacy U.S. individual pay-out annuities business,
refer to note 7(k) for details. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The results of the Company&#146;s reporting segments differ from its geographic segments primarily due to the
allocation of the Company&#146;s Global WAM and Corporate and Other segments into the geographic segments to which its businesses relate. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>168</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>By geographic location </B></FONT></P>
<P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the year ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>December&nbsp;31, 2018</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Asia</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">U.S.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Other</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Life and health insurance</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,010</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,561</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,342</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>439</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>30,352</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Annuities and pensions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,175</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>452</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9,967</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(6,340</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net premium income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18,185</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9,013</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3,625</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>439</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>24,012</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net investment income (loss)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>371</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,933</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,032</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>196</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,532</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,115</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,904</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,395</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,428</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>20,671</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>14,850</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,802</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>649</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>38,972</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the year ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>December&nbsp;31, 2017</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Asia</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">U.S.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Other</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Revenue</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Life and health insurance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13,215</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,894</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,780</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">466</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">24,355</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Annuities and pensions</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,568</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">443</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">844</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,855</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net premium income</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,783</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,337</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,624</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">466</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28,210</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net investment income (loss)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,258</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,642</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,407</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,367</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,632</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,187</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,911</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,746</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;21,673</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;12,166</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;23,942</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;542</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;58,323</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_20"></A>Note 20&nbsp;&nbsp;&nbsp;&nbsp;Related Parties </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company enters into transactions with related parties in the normal course of business and at the terms that would exist in
<FONT STYLE="white-space:nowrap">arm&#146;s-length</FONT> transactions. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Transactions with certain related parties </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Transactions with MFLP, a wholly owned unconsolidated partnership, and MFCT, a wholly owned unconsolidated trust, are described in notes 10, 11 and 18. Refer to
note&nbsp;3(a) for additional transactions with related parties. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Compensation of key management personnel </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s key management personnel are those personnel who have the authority and responsibility for planning, directing and controlling the activities of the
Company. Directors (both executive and <FONT STYLE="white-space:nowrap">non-executive)</FONT> and senior management are considered key personnel. In 2018, this group was expanded to include a greater number of executives. As a result, the 2017
figures below have been restated to align with this larger group. A summary of compensation of key management personnel is as follows. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Short-term employee benefits</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>65</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Post-employment benefits</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Share-based payments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>50</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Termination benefits</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other long-term benefits</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;127</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;150</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_21"></A>Note 21 Subsidiaries </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following is a list of Manulife&#146;s directly and indirectly held major operating subsidiaries. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="34%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(100% owned unless otherwise noted in brackets beside company name)</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Address</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><B>Description</B></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>The Manufacturers Life Insurance Company</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Toronto, Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Leading Canadian-based financial services company that offers a diverse range of financial protection products
and wealth management services</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Holdings (Alberta) Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Calgary, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holding company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Financial Corporation</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Wilmington,</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Delaware,&nbsp;U.S.A.</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">Holding company</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">The Manufacturers Investment Corporation</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Michigan, U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holding company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:7.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Reassurance Company Ltd.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Michigan, U.S.A.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Captive insurance subsidiary that provides life, annuity and long-term care reinsurance to affiliates</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:7.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Life Insurance Company (U.S.A.)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Michigan, U.S.A.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">U.S. life insurance company licensed in all states, except New York</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:8.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Subsidiaries LLC</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Wilmington, Delaware,&nbsp;U.S.A.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">Holding company</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>169</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="34%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(100% owned unless otherwise noted in brackets beside company name)</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Address</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><B>Description</B></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:9.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Financial Network, Inc.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Boston, Massachusetts,&nbsp;U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">Financial services distribution organization</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:9.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Advisers, LLC</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Boston, Massachusetts,&nbsp;U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">Investment advisor</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:11.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Funds, LLC</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Boston, Massachusetts, U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">Broker-dealer</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:9.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management (U.S.), LLC</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Wilmington, Delaware,&nbsp;U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">Asset management company</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:9.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Hancock Natural Resource Group, Inc.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Boston, Massachusetts,&nbsp;U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">Manager of globally diversified timberland and agricultural portfolios</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Life Insurance Company of New York</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">New York, U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">U.S. life insurance company licensed in New York</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:8.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Investment Management Services, LLC</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Boston, Massachusetts,&nbsp;U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">Investment advisor</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:8.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Life&nbsp;&amp; Health Insurance Company</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Boston, Massachusetts,&nbsp;U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">U.S. life insurance company licensed in all states</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:8.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Distributors, LLC</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Wilmington, Delaware,&nbsp;U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">Broker-dealer</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:7.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">John Hancock Insurance Agency, Inc.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Wilmington, Delaware,&nbsp;U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">Insurance agency</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:7.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Reinsurance Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Hamilton, Bermuda</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Provides life and financial reinsurance to affiliates</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Reinsurance (Bermuda) Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Hamilton, Bermuda</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Provides life and annuity reinsurance to affiliates</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Bank of Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Waterloo, Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Provides integrated banking products and service options not available from an insurance company</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management Holdings (Canada), Inc.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Toronto, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holding company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Toronto, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Provides investment counseling, portfolio and mutual fund management in Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">First North American Insurance Company</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Toronto, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Property and casualty insurance company</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">NAL Resources Management Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Calgary, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Management company for oil and gas properties</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Resources Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Calgary, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holds oil and gas properties</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Property Limited Partnership</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Toronto, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holds oil and gas royalties</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Property Limited Partnership II</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Toronto, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holds oil and gas royalties and foreign bonds and equities</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Western Holdings Limited Partnership</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Calgary, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holds oil and gas properties</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Securities Investment Services, Inc.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Oakville, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Mutual fund dealer for Canadian operations</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Holdings (Bermuda) Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Hamilton, Bermuda</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holding company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manufacturers P&amp;C Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">St. Michael, Barbados</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Provides property and casualty reinsurance</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Financial Asia Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Hong Kong, China</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holding company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife (Cambodia) PLC</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Phnom Penh, Cambodia</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manufacturers Life Reinsurance Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">St. Michael, Barbados</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Provides life and annuity reinsurance to affiliates</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife (Vietnam) Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Ho Chi Minh City, Vietnam</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management (Vietnam) Company Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Ho Chi Minh City, Vietnam</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Fund management company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife International Holdings Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Hong Kong, China</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holding company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife (International) Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Hong Kong, China</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:7.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife-Sinochem Life Insurance Co. Ltd. (51%)</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Shanghai, China</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management International Holdings Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Hong Kong, China</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holding company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:7.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management (Hong Kong) Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Hong Kong, China</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment management and advisory company marketing mutual funds</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management (Taiwan) Co., Ltd.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Taipei, Taiwan (China)</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Asset management company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Life Insurance Company (Japan)</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Tokyo, Japan</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management (Japan) Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Tokyo, Japan</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment management and advisory company and mutual fund business</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Insurance (Thailand) Public Company Limited (85.8%)<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Bangkok, Thailand</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management (Thailand) Company Limited (92.7%)<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Bangkok, Thailand</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment management company</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Holdings Berhad (59.5%)</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Kuala Lumpur, Malaysia</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Holding company</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>170</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(100% owned unless otherwise noted in brackets beside company name)</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Address</B></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><B>Description</B></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>


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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Insurance Berhad (59.5%)</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Kuala Lumpur, Malaysia</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management Services Berhad (59.5%)</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Kuala Lumpur, Malaysia</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Asset management company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife (Singapore) Pte. Ltd.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Singapore</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management (Singapore) Pte. Ltd.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Singapore</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Asset management company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">The Manufacturers Life Insurance Co. (Phils.), Inc.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Makati City, Philippines</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Chinabank Life Assurance Corporation (60%)</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Makati City, Philippines</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">PT Asuransi Jiwa Manulife Indonesia</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Jakarta, Indonesia</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">PT Manulife Aset Manajemen Indonesia</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Jakarta, Indonesia</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment management company marketing mutual funds and discretionary funds</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management (Europe) Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">London, England</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment management company for Manulife Financial&#146;s international funds</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Assurance Company of Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Toronto, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Life insurance company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">EIS Services (Bermuda) Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Hamilton, Bermuda</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment holding company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Berkshire Insurance Services Inc.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Toronto, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment holding company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">JH Investments (Delaware), LLC</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Boston, Massachusetts,&nbsp;U.S.A.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment holding company</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Securities Incorporated</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Oakville, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment dealer</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Manulife Asset Management (North America) Limited</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Toronto, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Investment advisor</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Regional Power Inc.</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Mississauga, Canada</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Developer and operator of hydro-electric power projects</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">MFC voting rights percentages are the same as the ownership percentages except for Manulife Insurance (Thailand) Public
Company Limited and Manulife Asset Management (Thailand) Company Limited where MFC&#146;s voting rights are 93.0% and 96.4%, respectively. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT
 COLOR="#2a517f"><B><A NAME="fin661383_22"></A>Note 22&nbsp;&nbsp;&nbsp;&nbsp;Segregated Funds </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company manages segregated funds on behalf of
policyholders. Policyholders are provided with the opportunity to invest in different categories of segregated funds that respectively hold a range of underlying investments. The Company retains legal title to the underlying investments; however,
returns from these investments belong to the policyholders. Accordingly, the Company does not bear the risk associated with these assets outside of guarantees offered on certain variable life and annuity products. The &#147;Risk Management&#148;
section of the Company&#146;s 2018 MD&amp;A provides information regarding the variable annuity and segregated fund guarantees. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The composition of net assets by
categories of segregated funds was within the following ranges for the years ended December&nbsp;31, 2018 and 2017. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="76%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Ranges in per cent</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:8pt; font-family:ARIAL"><B>Type of fund</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Money market funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2%&nbsp;to&nbsp;3%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2% to 3%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed income funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14%&nbsp;to&nbsp;15%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">14%&nbsp;to&nbsp;15%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balanced funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>25% to 26%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">22% to 29%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>58% to 60%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">55% to 60%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Money market funds consist of investments that have a term to maturity of less than one year. Fixed income funds primarily consist of
investments in fixed grade income securities and may contain smaller investments in diversified equities or high-yield bonds. Relative to fixed income funds, balanced funds consist of fixed income securities and a larger equity investment component.
The types of equity funds available to policyholders range from low volatility equity funds to aggressive equity funds. Equity funds invest in a varying mix of Canadian, U.S. and global equities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The underlying investments of the segregated funds consist of both individual securities and mutual funds (collectively &#147;net assets&#148;), some of which may be
structured entities. The carrying value and change in segregated funds net assets are as follows. Fair value related information of segregated funds is disclosed in note 3(g). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>171</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Segregated funds net assets </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Investments at market value</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Cash and short-term securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,700</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,756</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,313</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,472</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Equities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,661</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,624</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Mutual funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>277,133</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">288,007</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other investments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,678</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,514</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Accrued investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,811</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">201</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other assets and liabilities, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(700</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(766</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total segregated funds net assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>313,596</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">324,808</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Composition of segregated funds net assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Held by policyholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Held by the Company</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>387</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">501</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total segregated funds net assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;313,596</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;324,808</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Changes in segregated funds net assets </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net policyholder cash flow</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Deposits from policyholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>38,236</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">34,776</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net transfers to general fund</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,089</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,734</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Payments to policyholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(47,475</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(46,305</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(10,328</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(13,263</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Investment related</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest and dividends</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,535</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,930</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net realized and unrealized investment gains (losses)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(34,683</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">24,384</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(15,148</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">41,314</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Other</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Management and administration fees</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3,985</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4,161</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of changes in foreign exchange rates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>18,249</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(14,790</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>14,264</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(18,951</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net additions (deductions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(11,212</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net assets, beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>324,808</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">315,708</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Segregated funds net assets, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;313,596</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;324,808</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Segregated funds assets may be exposed to a variety of financial and other risks. These risks are primarily mitigated by investment
guidelines that are actively monitored by professional and experienced portfolio advisors. The Company is not exposed to these risks beyond the liabilities related to the guarantees associated with certain variable life and annuity products.
Accordingly, the Company&#146;s exposure to loss from segregated fund products is limited to the value of these guarantees. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">These guarantees are recorded within the
Company&#146;s insurance contract liabilities. Assets supporting these guarantees are recognized in invested assets according to their investment type. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT
 COLOR="#2a517f"><B><A NAME="fin661383_23"></A>Note 23&nbsp;&nbsp;&nbsp;&nbsp; Information Provided in Connection with Investments in Deferred Annuity Contracts and </B><B><I>Signature</I></B><B>Notes Issued or Assumed by John Hancock Life Insurance
Company (U.S.A.) </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following condensed consolidated financial information, presented in accordance with IFRS, and the related disclosure have been
included in these Consolidated Financial Statements with respect to JHUSA in compliance with Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> and Rule <FONT STYLE="white-space:nowrap">12h-5</FONT> of the United States Securities and Exchange
Commission (the &#147;Commission&#148;). These financial statements are incorporated by reference in the MFC and its subsidiaries registration statements that are described below and which relate to MFC&#146;s guarantee of certain securities to be
issued by its subsidiaries. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">JHUSA maintains a book of deferred annuity contracts that feature a market value adjustment, some of which are registered with the
Commission. The deferred annuity contracts may contain variable investment options along with fixed investment period options, or may offer only fixed investment period options. The fixed investment period options enable the participant to invest
fixed amounts of money for fixed terms at fixed interest rates, subject to a market value adjustment if the participant desires to terminate a fixed investment period before its maturity date. The annuity contract provides for the market value
adjustment to keep the parties whole with respect to the fixed interest bargain for the entire fixed investment period. These fixed investment period options that contain a market value adjustment feature are referred to as &#147;MVAs&#148;. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">JHUSA may also sell medium-term notes to retail investors under its <I>Signature</I>Notes program. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>172</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective December&nbsp;31, 2009, John Hancock Variable Life Insurance Company (the &#147;Variable Company&#148;) and
John Hancock Life Insurance Company (the &#147;Life Company&#148;) merged with and into JHUSA. In connection with the mergers, JHUSA assumed the Variable Company&#146;s rights and obligations with respect to the MVAs issued by the Variable Company
and the Life Company&#146;s rights and obligations with respect to the <I>Signature</I>Notes issued by the Life Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MFC fully and unconditionally guaranteed the
payment of JHUSA&#146;s obligations under the MVAs and under the <I>Signature</I>Notes (including the MVAs and <I>Signature</I>Notes assumed by JHUSA in the merger), and such MVAs and the <I>Signature</I>Notes were registered with the Commission.
The <I>Signature</I>Notes and MVAs assumed or issued by JHUSA are collectively referred to in this note as the &#147;Guaranteed Securities&#148;. JHUSA is, and each of the Variable Company and the Life Company was, a wholly owned subsidiary of MFC.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MFC&#146;s guarantees of the Guaranteed Securities are unsecured obligations of MFC and are subordinated in right of payment to the prior payment in full of all
other obligations of MFC, except for other guarantees or obligations of MFC which by their terms are designated as ranking equally in right of payment with or subordinate to MFC&#146;s guarantees of the Guaranteed Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The laws of the State of New York govern MFC&#146;s guarantees of the <I>Signature</I>Notes issued or assumed by JHUSA and the laws of the Commonwealth of Massachusetts
govern MFC&#146;s guarantees of the MVAs issued or assumed by JHUSA. MFC has consented to the jurisdiction of the courts of New York and Massachusetts. However, because a substantial portion of MFC&#146;s assets are located outside the United
States, the assets of MFC located in the United States may not be sufficient to satisfy a judgment given by a federal or state court in the United States to enforce the subordinate guarantees. In general, the federal laws of Canada and the laws of
the Province of Ontario, where MFC&#146;s principal executive offices are located, permit an action to be brought in Ontario to enforce such a judgment provided that such judgment is subsisting and unsatisfied for a fixed sum of money and not void
or voidable in the United States and a Canadian court will render a judgment against MFC in a certain dollar amount, expressed in Canadian dollars, subject to customary qualifications regarding fraud, violations of public policy, laws limiting the
enforcement of creditor&#146;s rights and applicable statutes of limitations on judgments. There is currently no public policy in effect in the Province of Ontario that would support avoiding the recognition and enforcement in Ontario of a judgment
of a New York or Massachusetts court on MFC&#146;s guarantees of the <I>Signature</I>Notes issued or assumed by JHUSA or a Massachusetts court on guarantees of the MVAs issued or assumed by JHUSA. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MFC is a holding company. MFC&#146;s assets primarily consist of investments in its subsidiaries. MFC&#146;s cash flows primarily consist of dividends and interest
payments from its operating subsidiaries, offset by expenses and shareholder dividends and MFC stock repurchases. As a holding company, MFC&#146;s ability to meet its cash requirements, including, but not limited to, paying any amounts due under its
guarantees, substantially depends upon dividends from its operating subsidiaries. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">These subsidiaries are subject to certain regulatory restrictions under laws in
Canada, the United States and certain other countries, which may limit their ability to pay dividends or make contributions or loans to MFC. For example, some of MFC&#146;s subsidiaries are subject to restrictions prescribed by the ICA on their
ability to declare and pay dividends. The restrictions related to dividends imposed by the ICA are described in note 13. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the United States, insurance laws in
Michigan, New York, and Massachusetts, the jurisdictions in which certain of MFC&#146;s U.S. insurance company subsidiaries are domiciled, impose general limitations on the payment of dividends and other upstream distributions or loans by these
insurance subsidiaries. These limitations are described in note 13. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In Asia, the insurance laws of the jurisdictions in which MFC operates either provide for
specific restrictions on the payment of dividends or other distributions or loans by subsidiaries or impose solvency or other financial tests, which could affect the ability of subsidiaries to pay dividends in certain circumstances. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">There can be no assurance that any current or future regulatory restrictions in Canada, the United States or Asia will not impair MFC&#146;s ability to meet its cash
requirements, including, but not limited to, paying any amounts due under its guarantee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following condensed consolidated financial information, presented in
accordance with IFRS, reflects the effects of the mergers and is provided in compliance with Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> and in accordance with Rule <FONT STYLE="white-space:nowrap">12h-5</FONT> of the Commission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>173</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Condensed Consolidated Statement of Financial Position </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">MFC<BR>(Guarantor)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">JHUSA<BR>(Issuer)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Other<BR>subsidiaries</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Consolidation<BR>adjustments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Consolidated<BR>MFC</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>105,043</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>248,962</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(362</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>353,664</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investments in unconsolidated subsidiaries</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>54,015</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,356</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,738</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(79,109</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reinsurance assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>63,435</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9,136</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(29,518</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>43,053</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>331</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,025</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>43,213</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(20,224</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>40,345</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>168,476</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>146,671</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,938</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>54,367</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>361,335</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>465,720</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(131,151</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>750,271</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Liabilities and equity</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>155,162</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>203,682</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(30,190</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>328,654</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,191</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,076</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,265</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>275</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18,136</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>46,072</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(19,992</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>44,491</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Long-term debt</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,769</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,769</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Capital instruments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,359</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>632</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,741</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,732</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>168,476</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>146,671</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,938</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Shareholders&#146; equity</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>45,964</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,738</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>61,291</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(79,029</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>45,964</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Participating policyholders&#146; equity</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>94</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>94</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT>
interests</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,093</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,093</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total liabilities and equity</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;54,367</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;361,335</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;465,720</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(131,151</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;750,271</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Condensed Consolidated Statement of Financial Position </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">MFC<BR>(Guarantor)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">JHUSA<BR>(Issuer)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Other<BR>subsidiaries</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Consolidation<BR>adjustments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Consolidated<BR>MFC</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Assets</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Invested assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">108,144</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">226,421</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(364</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">334,222</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investments in unconsolidated subsidiaries</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48,374</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,509</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,999</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(69,882</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reinsurance assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49,927</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,281</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27,849</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30,359</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">314</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,678</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40,715</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(19,062</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40,645</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net assets</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">176,139</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">149,812</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,644</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;48,709</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;359,397</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;440,228</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(118,801</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;729,533</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Liabilities and equity</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Insurance contract liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">147,155</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">185,884</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(28,434</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">304,605</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment contract liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,998</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">297</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,399</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41,395</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(18,930</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,161</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Long-term debt</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,784</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,784</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Capital instruments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,615</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">584</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,188</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,387</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">176,139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">149,812</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,644</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Shareholders&#146; equity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41,013</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,990</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54,801</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(69,791</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41,013</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Participating policyholders&#146; equity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">221</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">221</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT>
interests</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">929</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">929</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total liabilities and equity</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">48,709</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">359,397</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">440,228</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(118,801</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">729,533</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>174</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Condensed Consolidated Statement of Income </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">MFC<BR>(Guarantor)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">JHUSA<BR>(Issuer)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Other<BR>subsidiaries</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Consolidation<BR>adjustments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Consolidated<BR>MFC</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gross premiums</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,452</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>31,814</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,116</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>39,150</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Premiums ceded to reinsurers</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(14,149</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,105</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,116</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(15,138</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net premium income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(5,697</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>29,709</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>24,012</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net investment income (loss)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>445</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>907</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,126</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(946</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,532</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net other revenue</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,799</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9,820</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,189</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,428</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>443</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,991</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>43,655</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,135</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>38,972</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Contract benefits and expenses</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net benefits and claims</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(7,403</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>22,862</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>475</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,934</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Commissions, investment and general expenses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,427</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14,052</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,660</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;15,838</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other expenses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>380</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>233</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,018</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(950</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,681</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total contract benefits and expenses</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>399</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(3,743</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;38,932</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,135</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>33,453</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income (loss) before income taxes</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>44</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>752</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,723</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,519</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income tax (expense) recovery</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(11</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>223</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(844</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(632</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income (loss) after income taxes</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>33</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>975</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,879</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,887</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity in net income (loss) of unconsolidated subsidiaries</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,767</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,206</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,181</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(8,154</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;4,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,181</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,060</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(8,154</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,887</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income (loss) attributed to:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>214</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>214</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Participating policyholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(127</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(127</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Shareholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,191</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,973</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(8,164</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,181</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,060</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(8,154</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;4,887</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Condensed Consolidated Statement of Income </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">MFC<BR>(Guarantor)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">JHUSA<BR>(Issuer)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Other<BR>subsidiaries</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Consolidation<BR>adjustments</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Consolidated<BR>MFC</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Revenue</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Gross premiums</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">8,561</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">22,895</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,905</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">36,361</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Premiums ceded to reinsurers</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,523</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(5,765</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(4,909</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(8,151</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net premium income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,084</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28,210</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net investment income (loss)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">178</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,986</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,947</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(744</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,367</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net other revenue</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,874</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,864</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2,996</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,746</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">21,944</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">39,941</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(3,744</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">58,323</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Contract benefits and expenses</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net benefits and claims</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,803</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,179</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(681</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39,301</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Commissions, investment and general expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,208</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,852</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,049</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,022</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other expenses</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">404</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">194</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,915</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,014</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,499</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total contract benefits and expenses</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">415</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;24,205</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;34,946</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(3,744</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">55,822</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income (loss) before income taxes</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(233</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,261</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,995</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,501</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income tax (expense) recovery</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,134</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,435</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(239</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Income (loss) after income taxes</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(171</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,127</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,560</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,262</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity in net income (loss) of unconsolidated subsidiaries</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,275</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">628</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(486</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2,417</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss)</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;2,104</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(499</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">3,074</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(2,417</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,262</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income (loss) attributed to:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">194</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">194</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Participating policyholders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Shareholders</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(489</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,916</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2,427</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(499</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">3,074</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(2,417</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;2,262</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>175</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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<p Style='page-break-before:always'>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidated Statement of Cash Flows </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


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<TD WIDTH="55%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">MFC</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(Guarantor)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">JHUSA</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(Issuer)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Other</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">subsidiaries</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Consolidation</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">adjustments</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Consolidated</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">MFC</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Operating activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income (loss)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;4,800</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;2,181</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,060</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;(8,154</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,887</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjustments:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Equity in net income of unconsolidated subsidiaries</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(4,767</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,206</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,181</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,154</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Increase (decrease) in insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(5,273</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,180</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,907</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Increase (decrease) in investment contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(86</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>121</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">(Increase) decrease in reinsurance assets excluding coinsurance transactions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,609</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(716</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>893</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Amortization of (premium) discount on invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>58</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>154</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>212</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other amortization</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>225</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>518</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>747</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Net realized and unrealized (gains) losses and impairment on assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(11</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,158</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,580</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,727</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Deferred income tax expense (recovery)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>679</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>240</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>930</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Restructuring charge</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>43</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>113</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>156</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Stock option expense</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash provided by (used in) operating activities before undernoted items</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,388</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,079</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,504</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Dividends from unconsolidated subsidiary</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,700</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>405</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>777</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3,882</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in policy related and operating receivables and
payables</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>251</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(536</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(31</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(316</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash provided by (used in) operating activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,988</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,257</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>17,825</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(3,882</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>19,188</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Investing activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Purchases and mortgage advances</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(38,799</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(62,373</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;(101,172</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Disposals and repayments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35,817</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>46,294</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>82,111</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in investment broker net receivables and payables</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(169</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>41</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(128</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment in common shares of subsidiaries</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,284</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,284</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net cash decrease from purchase of subsidiaries and businesses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>187</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>187</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Capital contribution to unconsolidated subsidiaries</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Return of capital from unconsolidated subsidiaries</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>72</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(72</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Notes receivable from parent</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(83</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>83</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Notes receivable from subsidiaries</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(23</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(61</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>84</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash provided by (used in) investing activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,307</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(3,154</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(15,934</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,393</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(19,002</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Financing activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(Decrease) increase in repurchase agreements and securities sold but not yet purchased</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(189</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(189</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Redemption of long-term debt</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(400</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(400</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issue of capital instruments, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>597</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>597</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Redemption of capital instruments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(450</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(450</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Secured borrowings from securitization transactions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in deposits from Bank clients, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,490</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,490</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Shareholders&#146; dividends paid in cash</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,788</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,788</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Dividends paid to parent</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(777</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3,105</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,882</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Contributions from (distributions to) <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests,
net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(60</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(60</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Common shares repurchased</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(478</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(478</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Common shares issued, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>59</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,284</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,284</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>59</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Preferred shares issued, net</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>245</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>245</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Capital contributions by parent</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Return of capital to parent</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(72</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>72</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Notes payable to parent</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>84</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(84</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Notes payable to subsidiaries</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>83</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(83</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash provided by (used in) financing activities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,682</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(777</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(754</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,489</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(724</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash and short-term securities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Increase (decrease) during the year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,674</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,137</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(538</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Effect of foreign exchange rate changes on cash and short-term securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>353</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>468</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>822</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, beginning of year</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,638</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>11,439</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>15,098</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,317</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,044</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>15,382</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash and short-term securities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Beginning of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross cash and short-term securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,133</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,811</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,965</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net payments in transit, included in other liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(495</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(372</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(867</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net cash and short-term securities, beginning of
year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,638</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>11,439</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>15,098</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>End of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross cash and short-term securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,783</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,411</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,215</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net payments in transit, included in other liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(466</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(367</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(833</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net cash and short-term securities, end of year</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,317</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,044</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;15,382</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Supplemental disclosures on cash flow information:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest received</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>427</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,381</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,074</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(930</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,952</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest paid</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>373</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>92</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,677</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(930</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,212</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income taxes paid</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(59</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>286</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>234</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>461</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>176</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidated Statement of Cash Flows </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">MFC</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(Guarantor)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">JHUSA</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">(Issuer)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Other</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">subsidiaries</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Consolidation</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">adjustments</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">Consolidated</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right">MFC</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Operating activities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income (loss)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(499</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,074</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(2,417</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,262</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjustments:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Equity in net income of unconsolidated subsidiaries</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,275</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(628</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">486</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,417</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Increase (decrease) in insurance contract liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,877</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;20,023</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Increase (decrease) in investment contract liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">118</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">173</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">(Increase) decrease in reinsurance assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,890</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,159</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,269</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Amortization of (premium) discount on invested assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">206</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">230</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other amortization</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">123</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">433</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">560</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Net realized and unrealized (gains) losses and impairment on assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,609</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4,572</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7,188</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Deferred income tax expense (recovery)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(59</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,239</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,967</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(331</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Stock option expense</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash provided by (used in) operating activities before undernoted items</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(233</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,210</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,036</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,013</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Dividends from unconsolidated subsidiary</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;2,700</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">125</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,175</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4,000</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in policy related and operating receivables and
payables</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(45</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(4,627</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">4,450</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(222</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash provided by (used in) operating activities</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,422</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">4,708</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">14,661</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(4,000</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">17,791</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Investing activities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Purchases and mortgage advances</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(30,645</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(56,579</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(87,224</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Disposals and repayments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;26,952</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;43,768</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70,720</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in investment broker net receivables and payables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">227</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment in common shares of subsidiaries</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,473</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;2,473</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net cash decrease from purchase of subsidiaries and businesses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Capital contribution to unconsolidated subsidiaries</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(63</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Return of capital from unconsolidated subsidiaries</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(11</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Notes receivables from affiliates</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">201</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(201</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Notes receivable from parent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">368</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(392</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Notes receivable from subsidiaries</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(16</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash provided by (used in) investing activities</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(2,489</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(3,205</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(12,551</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,958</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(16,287</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Financing activities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(Decrease) increase in repurchase agreements and securities sold but not yet purchased</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Redemption of long-term debt</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(600</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(607</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Issue of capital instruments, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,209</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,209</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Redemption of capital instruments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(899</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(899</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Secured borrowings from securitization transactions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">741</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">741</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in deposits from Bank clients, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">261</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">261</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Shareholders&#146; dividends paid in cash</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,780</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,780</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Contributions from (distributions to) <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests,
net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Common shares issued, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,473</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,473</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Dividends paid to parent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,175</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,825</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Capital contributions by parent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(63</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Return of capital to parent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(11</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Notes payable to affiliates</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(201</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">201</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Notes payable to parent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(26</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Notes payable to subsidiaries</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(24</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(368</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">392</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash provided by (used in) financing activities</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(71</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(1,376</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(581</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,042</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash and short-term securities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Increase (decrease) during the year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(138</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,529</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,518</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Effect of foreign exchange rate changes on cash and short-term securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(276</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(380</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(658</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, beginning of year</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">161</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,787</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,290</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">14,238</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, end of year</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">3,638</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">11,439</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">15,098</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Cash and short-term securities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Beginning of year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross cash and short-term securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">161</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,317</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,673</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,151</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net payments in transit, included in other liabilities</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(530</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(383</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(913</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net cash and short-term securities, beginning of
year</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">161</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">3,787</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">10,290</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">14,238</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>End of year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross cash and short-term securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,133</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,811</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,965</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net payments in transit, included in other liabilities</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(495</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(372</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(867</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net cash and short-term securities, end of year</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">3,638</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">11,439</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;15,098</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Supplemental disclosures on cash flow information:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest received</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">273</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,391</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,504</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(572</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">10,596</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest paid</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">392</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,202</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(572</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,118</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income taxes paid</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,084</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">177</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,360</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial Statements</I>&nbsp;&nbsp;<FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT
STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>177</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="fin661383_24"></A>Note 24&nbsp;&nbsp;&nbsp;&nbsp;Comparatives </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Certain comparative amounts have been reclassified to conform to the current year&#146;s presentation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>178</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;</FONT><FONT
STYLE="font-family:ARIAL; font-size:14pt" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Notes&nbsp;to&nbsp;Consolidated&nbsp;Financial&nbsp;Statements</I> </FONT></P>

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<TYPE>EX-99.2
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<DESCRIPTION>EX-99.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Exhibit 99.2 </B></P> <P STYLE="font-size:72pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<IMG SRC="g661383g12e64.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:72pt; margin-bottom:0pt; font-size:24pt; font-family:ARIAL"><FONT COLOR="#1f320c">Manulife Financial Corporation </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:ARIAL"><FONT COLOR="#1f320c">Management&#146;s Discussion&nbsp;&amp; Analysis </FONT></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:16pt; font-family:ARIAL"><FONT
 COLOR="#1f320c">For the year ended December&nbsp;31, 2018 </FONT></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Caution regarding forward-looking statements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">From time to time, Manulife Financial Corporation (&#147;MFC&#148;) makes written and/or oral forward-looking statements, including in this document. In addition, our
representatives may make forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the &#147;safe harbour&#148; provisions of Canadian provincial securities laws and the U.S. Private
Securities Litigation Reform Act of 1995. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The forward-looking statements in this document include, but are not limited to, statements with respect to the
Company&#146;s strategic priorities and 2022 targets for net promoter score, employee engagement, its highest potential businesses, expense efficiency and portfolio optimization; the<B> </B>reduction in the allocation to alternative long-duration
assets in our portfolio asset mix supporting our legacy business by <FONT STYLE="white-space:nowrap">mid-2019;</FONT> and the annual <FONT STYLE="white-space:nowrap">pre-tax</FONT> <FONT STYLE="white-space:nowrap">run-rate</FONT> savings to be
achieved by the end of 2019,<B> </B>and also relate to, among other things, our objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as &#147;may&#148;,
&#147;will&#148;, &#147;could&#148;, &#147;should&#148;, &#147;would&#148;, &#147;likely&#148;, &#147;suspect&#148;, &#147;outlook&#148;, &#147;expect&#148;, &#147;intend&#148;, &#147;estimate&#148;, &#147;anticipate&#148;, &#147;believe&#148;,
&#147;plan&#148;, &#147;forecast&#148;, &#147;objective&#148;, &#147;seek&#148;, &#147;aim&#148;, &#147;continue&#148;, &#147;goal&#148;, &#147;restore&#148;, &#147;embark&#148; and &#147;endeavour&#148; (or the negative thereof) and words and
expressions of similar import, and include statements concerning possible or assumed future results. Although we believe that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and
uncertainties, and undue reliance should not be placed on such statements and they should not be interpreted as confirming market or analysts&#146; expectations in any way. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such
statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to the performance, volatility and correlation
of equity markets, interest rates, credit and swap spreads, currency rates, investment losses and defaults, market liquidity and creditworthiness of guarantors, reinsurers and counterparties); changes in laws and regulations; changes in accounting
standards applicable in any of the territories in which we operate; changes in regulatory capital requirements; our ability to execute strategic plans and changes to strategic plans; downgrades in our financial strength or credit ratings; our
ability to maintain our reputation; impairments of goodwill or intangible assets or the establishment of provisions against future tax assets; the accuracy of estimates relating to morbidity, mortality and policyholder behaviour; the accuracy of
other estimates used in applying accounting policies, actuarial methods and embedded value methods; our ability to implement effective hedging strategies and unforeseen consequences arising from such strategies; our ability to source appropriate
assets to back our long-dated liabilities; level of competition and consolidation; our ability to market and distribute products through current and future distribution channels; unforeseen liabilities or asset impairments arising from acquisitions
and dispositions of businesses; the realization of losses arising from the sale of investments classified as <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">available-for-sale;</FONT></FONT> our liquidity, including the
availability of financing to satisfy existing financial liabilities on expected maturity dates when required; obligations to pledge additional collateral; the availability of letters of credit to provide capital management flexibility; accuracy of
information received from counterparties and the ability of counterparties to meet their obligations; the availability, affordability and adequacy of reinsurance; legal and regulatory proceedings, including tax audits, tax litigation or similar
proceedings; our ability to adapt products and services to the changing market; our ability to attract and retain key executives, employees and agents; the appropriate use and interpretation of complex models or deficiencies in models used;
political, legal, operational and other risks associated with our <FONT STYLE="white-space:nowrap">non-North</FONT> American operations; acquisitions and our ability to complete acquisitions including the availability of equity and debt financing
for this purpose; the disruption of or changes to key elements of the Company&#146;s or public infrastructure systems; environmental concerns; our ability to protect our intellectual property and exposure to claims of infringement; and our inability
to withdraw cash from subsidiaries. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Additional information about material risk factors that could cause actual results to differ materially from expectations and
about material factors or assumptions applied in making forward-looking statements may be found in this document under &#147;Risk Management&#148;, &#147;Risk Factors&#148; and &#147;Critical Accounting and Actuarial Policies&#148; and in the
&#147;Risk Management&#148; note to the Consolidated Financial Statements as well as elsewhere in our filings with Canadian and U.S. securities regulators. The forward-looking statements in this document are, unless otherwise indicated, stated as of
the date hereof and are presented for the purpose of assisting investors and others in understanding our financial position and results of operations, our future operations, as well as our objectives and strategic priorities, and may not be
appropriate for other purposes. We do not undertake to update any <FONT STYLE="white-space:nowrap">forward-looking</FONT> statements, except as required by law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Manulife Financial Corporation
2018 Management&#146;s Discussion and Analysis </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B><A NAME="toc"></A>Table of Contents </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="95%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT><BR></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>10</B></FONT><BR></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT><BR></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_2">Management&#146;s Discussion and Analysis </A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT><BR></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>10</B></FONT><BR></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT><BR></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_3">Manulife Financial Corporation </A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_4">Asia </A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_5">Canada</A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_6">U.S. </A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_6a">Global Wealth and Asset Management </A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>29</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:ARIAL"><A HREF="#mdatoc661383_7">Corporate and Other</A></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_9">Investments</A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_10">Risk Management</A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_11">Capital Management Framework</A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>58</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_12">Critical Actuarial and Accounting Policies</A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>70</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_13">Risk Factors</A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_14">Controls and Procedures</A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>87</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_15">Performance and Non-GAAP Measures</A></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>91</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-size:8.5pt" COLOR="#1f320c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#mdatoc661383_16">Additional Disclosures</A></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">Manulife Financial Corporation 2018
Management&#146;s Discussion and Analysis </P>

</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_2"></A>Management&#146;s Discussion and Analysis </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">This Management&#146;s Discussion and Analysis (&#147;MD&amp;A&#148;) is current as of February&nbsp;13, 2019. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_3"></A>Manulife Financial Corporation </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives
better. We operate as John Hancock in the United States and Manulife elsewhere.&nbsp;We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end&nbsp;of 2018, we had
more than 34,000 employees, over 82,000 agents, and thousands of distribution partners, serving almost 28&nbsp;million customers. At the end of 2018, we had $1.1 trillion (US$794 billion) in assets under management and administration, and during
2018, we made $29.0&nbsp;billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as
&#145;MFC&#146; on the Toronto, New York, and the Philippine stock exchanges, and under &#145;945&#146; in Hong Kong. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the
Company introduced Global Wealth and Asset Management as a primary reporting segment. This change reflected organizational changes made to drive better alignment with our strategic priorities as well as to increase focus and leverage scale in our
global wealth and asset management businesses. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our reporting segments are: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Asia &#150; providing insurance products and insurance-based wealth accumulation products in Asia. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Canada &#150; providing insurance products, insurance-based wealth accumulation products, and banking services in Canada.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">U.S. &#150; providing life insurance products, insurance-based wealth accumulation products, digital advice solutions, and
administering <FONT STYLE="white-space:nowrap">in-force</FONT> long-term care insurance and our annuity businesses in the U.S. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Global Wealth and Asset Management (&#147;Global WAM&#148;) &#150; providing
<FONT STYLE="white-space:nowrap">fee-based</FONT> wealth solutions to our retail, retirement and institutional customers around the world. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Corporate and Other &#150; comprised of investment performance on assets backing capital, net of amounts allocated to
operating segments; financing costs; costs incurred by the corporate office related to shareholder activities (not allocated to operating segments); our Property and Casualty (&#147;P&amp;C&#148;) Reinsurance business; and <FONT
STYLE="white-space:nowrap">run-off</FONT> reinsurance business lines. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In this document, the terms &#147;Company&#148;, &#147;Manulife&#148;,
&#147;we&#148; and &#147;our&#148; mean Manulife Financial Corporation (&#147;MFC&#148;) and its subsidiaries. The term &#147;MLI&#148; means The Manufacturers Life Insurance Company and its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, we executed against the five priorities of our strategy that we outlined in late 2017 and at our Investor Day in June.&nbsp;Progress made on each of these
priorities is described in the &#147;Strategic Highlights&#148; section below. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Profitability </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Profitability </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="77%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions, unless otherwise stated)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income attributed to shareholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,800</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;2,104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,929</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core earnings<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,610</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,565</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,021</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Diluted earnings per common share ($)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2.33</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1.41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Diluted core earnings per common share ($)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2.74</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1.96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Return on common shareholders&#146; equity (&#147;ROE&#148;)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;11.6%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.0%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.3%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core ROE<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13.7%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11.3%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;10.1%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Expense efficiency
ratio<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>52.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">55.4%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">59.3%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Our net income attributed to
shareholders was $4.8</B></FONT><FONT STYLE="font-family:ARIAL"><B></B><B>&nbsp;billion in 2018 compared with $2.1</B><B></B><B>&nbsp;billion in 2017.</B> Net income attributed to shareholders is comprised of core earnings<SUP
STYLE="font-size:85%; vertical-align:top">1</SUP><SUP STYLE="font-size:85%; vertical-align:top"> </SUP>(consisting of items we believe reflect the underlying earnings capacity of the business), which amounted to $5.6&nbsp;billion in 2018 compared
with $4.6&nbsp;billion in 2017, and items excluded from core earnings of $0.8&nbsp;billion of net charges in 2018 compared with $2.5&nbsp;billion of net charges in 2017. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Net income attributed to shareholders was $4.8&nbsp;billion in 2018, an increase of $2.7&nbsp;billion compared with 2017. The increase was due to the <FONT
STYLE="white-space:nowrap">non-recurrence</FONT> of the $2.8&nbsp;billion charge in 2017 related to the impact of the U.S. Tax Cuts and Jobs Act (&#147;U.S. Tax Reform&#148;) and our decision to change the portfolio asset mix supporting our legacy
businesses as well as strong core earnings growth, partially offset by charges in 2018 primarily related to the direct impact of equity markets. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The
$1.0&nbsp;billion increase in core earnings compared with 2017 was driven by improved policyholder experience and the <FONT STYLE="white-space:nowrap">non-recurrence</FONT> of 2017&#146;s hurricane-related charges in our P&amp;C business, business
growth in Asia and Global WAM, the impact of lower U.S. tax rates, and greater expense efficiency. These were partially offset by lower gains from the release of provisions for </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>10</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

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<p Style='page-break-before:always'>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">
uncertain tax positions and the unfavourable impact of markets, in 2018, on seed money investments in new segregated and mutual funds. Core earnings in 2018 included policyholder experience gains
of $38&nbsp;million <FONT STYLE="white-space:nowrap">post-tax</FONT> ($64&nbsp;million <FONT STYLE="white-space:nowrap">pre-tax)</FONT> compared with charges of $168&nbsp;million <FONT STYLE="white-space:nowrap">post-tax</FONT> ($227&nbsp;million <FONT
STYLE="white-space:nowrap">pre-tax)</FONT> in 2017.<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Actions to optimize our portfolio and to put our capital to
best use have an impact on core earnings until such time as the capital benefit is redeployed. In 2018, we estimate the impact on core earnings of reducing the allocation of alternative long-duration assets (&#147;ALDA&#148;) in our portfolio asset
mix supporting our North American legacy businesses and of the reinsurance transactions in 2018 related to legacy businesses to be a reduction of approximately $65&nbsp;million and expect a further impact on 2019 core earnings of approximately
$100&nbsp;million.<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As noted in the table below, we reported double-digit core earnings growth across all
operating segments. See Asia, Canada, U.S., and Global WAM sections below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="71%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" ROWSPAN="2" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P></TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" ROWSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center">%&nbsp;change<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2018&nbsp;vs&nbsp;2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP
STYLE="font-size:85%; vertical-align:top">(2)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Asia</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,749</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,453</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,321</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canada</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,356</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,209</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,191</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S.</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,830</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,609</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,317</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Global Wealth and Asset Management</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>986</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">816</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">662</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Corporate and Other (excluding core investment gains)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(711</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(922</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(667</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core investment
gains<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>400</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">400</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">197</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total core earnings</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;5,610</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;4,565</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;4,021</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Percentage change is on a constant exchange rate basis. See &#147;Performance and
<FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See note (2)&nbsp;in the table below. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The table below reconciles 2018, 2017 and 2016 net income attributed to shareholders to core earnings and provides further details for each of the items excluded from
core earnings. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,610</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,565</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,021</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Items excluded from core earnings</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT
STYLE="font-size:5pt"><SUP STYLE="font-size:85%; vertical-align:top"><B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment-related experience outside of core
earnings<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>200</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">167</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Direct impact of equity markets and interest rates and variable annuity guarantee liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(3) </SUP>(see table below)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(857</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">209</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(484</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in actuarial methods and assumptions<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(51</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(35</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(453</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact related to U.S. Tax Reform<SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>124</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;(1,777</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Charge related to decision to change portfolio asset mix supporting our legacy businesses<SUP
STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,032</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Restructuring charge<SUP STYLE="font-size:85%; vertical-align:top">(7)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(263</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reinsurance transactions and other<SUP
STYLE="font-size:85%; vertical-align:top">(8)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>37</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(155</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total items excluded from core earnings</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(810</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(2,461</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(1,092</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;4,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,104</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">2,929</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In accordance with our definition of core earnings, we include up to $400&nbsp;million of net favourable
investment-related experience reported in a single year, as core investment gains (see &#147;Performance and <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below). Items excluded from core earnings include net investment-related
experience in excess of $400&nbsp;million per annum or net unfavourable investment-related experience on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> basis. In 2018, we generated investment-related
experience gains of $600&nbsp;million, reflecting the favourable impact of fixed income reinvestment activities on the measurement of our policy liabilities and strong credit experience, partially offset by lower than expected returns (including
changes in fair value) on alternative long-duration assets (&#147;ALDA&#148;), including oil&nbsp;&amp; gas in the fourth quarter. In 2017, we generated investment-related experience gains of $567&nbsp;million, reflecting the favourable impact of
fixed income reinvestment activities on the measurement of our policy liabilities and strong credit experience, partially offset by lower than expected returns (including changes in fair value) on ALDA. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The direct impact of equity markets and interest rates is relative to our policy liability valuation assumptions and
includes changes to interest rate assumptions, as well as experience gains and losses on derivatives associated with our macro equity hedges. We also include gains and losses on the sale of AFS debt securities as management may have the ability to
partially offset the direct impacts of changes in interest rates reported in the liability segments. Additional information related to the charge in 2018 and gain in 2017 are included in the table below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The impact of our review of actuarial methods and assumptions in 2018 resulted in a net charge to net income attributed to
shareholders of $51&nbsp;million. Reserves were strengthened for policyholder experience assumptions and we recorded a net favourable impact from the review of investment assumptions and other updates. (See &#147;Critical Actuarial and Accounting
Policies &#150; Review of Actuarial Methods and Assumptions&#148; section below for further information on the 2018 and 2017 charges. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The 2017 charge of $1.8&nbsp;billion related to the impact of U.S. Tax Reform, which lowered the U.S. corporate tax rate
from 35% to 21% and placed limits on the tax deductibility of reserves. In 2018 we updated our estimate and reported a gain of $124&nbsp;million. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The 2017 charge reflected a $1.0&nbsp;billion <FONT STYLE="white-space:nowrap">post-tax</FONT> charge related to our
decision to reduce the allocation to ALDA in our portfolio asset mix supporting our North American legacy businesses. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(7)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The 2018 charge of $263&nbsp;million primarily related to the voluntary exit program in our Canadian operation
transformation program and to our North American voluntary early retirement program as well as costs to optimize our real estate footprint in the U.S. and Canada. For further information on the restructuring change see &#147;Strategic
Highlights&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(8)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The 2018 gain of $37&nbsp;million includes a gain resulting from external reinsurance transactions partially offset by a
provision for a legal settlement in the U.S. and a charge related to the integration of businesses acquired from Standard Chartered and Standard Life plc. The 2017 net gain of $7&nbsp;million included a gain resulting from an internal legal entity
restructuring partially offset by a provision for a legal settlement, Thailand operations restructuring charges, early redemption costs on debt retirements and costs related to the integration of businesses acquired from Standard Chartered and
Standard Life plc. The 2016 charge of $155&nbsp;million includes restructuring charges for our long-term care business in the U.S., our Indonesia operations and the closure of our technology shared service centre in Malaysia and charge related to
the integration of New York Life&#146;s (&#147;NYL&#148;) Retirement Plan Services business, partially offset by a gain with respect to one of the Company&#146;s pension plans. </P></TD></TR></TABLE>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Effective 2018, policyholder experience is being reported excluding minority interest. Comparative prior periods have been
updated. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Caution related to forward-looking statements&#148; above. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>11</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The net gain (loss) related to the direct impact of equity markets and interest rates and variable annuity guarantee
liabilities in the table above is attributable to: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Direct impact of equity markets and variable annuity guarantee liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(928</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">533</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(364</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed income reinvestment rates assumed in the valuation of policy liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>354</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;(200</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(335</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Sale of AFS bonds and derivative positions in the Corporate and Other segment</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(283</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(41</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">370</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Risk reduction related items<SUP
STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(83</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(155</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Direct impact of equity markets and interest rates and variable
annuity guarantee liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(857</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">209</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(484</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In 2018, the net loss of $928&nbsp;million included a loss of $1,718&nbsp;million from gross equity exposure, partially
offset by gain of $767&nbsp;million from dynamic hedging experience and $23&nbsp;million from macro hedge experience. In 2017, the net gain of $533&nbsp;million included a gain of $1,486&nbsp;million from gross equity exposure, partially offset by
charges of $892&nbsp;million from dynamic hedging experience and $61&nbsp;million from macro hedge experience. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In 2018, the $354&nbsp;million gain for fixed income reinvestment assumptions was driven primarily by the increases in
corporate spreads which resulted in an increase in the reinvestment yields on future fixed income purchases assumed in the measurement of policy liabilities partially offset by movement in risk free rates and increases in swap spreads that resulted
in a decrease in the fair value of our swaps. In 2017, the $200&nbsp;million charge was driven by decreases in corporate spreads which resulted in a decline in the reinvestment yields on future fixed income purchases assumed in the measurement of
policy liabilities and increases in swap spreads that resulted in a decrease in the fair value of our swaps. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">There were no specific actions in 2018. In 2017, we expanded our dynamic hedging program in Japan. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Earnings per common share </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Diluted earnings per
common share was $2.33 in 2018, compared with $0.98 in 2017. Diluted core earnings per common share was $2.74 in 2018, compared with $2.22 in 2017. The changes in these measures were related to the increase in both net income and core earnings,
respectively. The diluted weighted average common shares outstanding was 1,988&nbsp;million in 2018 and 1,986&nbsp;million in 2017. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Return on common shareholders&#146; equity </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Return on common shareholders&#146; equity (&#147;ROE&#148;) for 2018 was 11.6%, compared with 5.0% for 2017 and core return on shareholders&#146; equity (&#147;core
ROE&#148;)<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> was 13.7% in 2018 compared with 11.3% in 2017. The changes were driven by increased earnings. Average common equity increased 2% to $39.8&nbsp;billion in 2018 from $38.9&nbsp;billion
in 2017. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Expense efficiency ratio </B></FONT><FONT STYLE="font-family:ARIAL">was 52.0% for 2018, compared with
55.4% in 2017. Growth of general expenses included in core earnings was 3%, while <FONT STYLE="white-space:nowrap">pre-tax</FONT> core earnings grew 19%, resulting in the 3.4 percentage point improvement in our expense efficiency ratio. </FONT></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Growth </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Growth metrics
</B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="74%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions, unless otherwise stated)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Asia APE sales<SUP STYLE="font-size:85%; vertical-align:top"> </SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,012</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,747</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,307</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canada APE sales</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>975</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,366</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">978</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. APE sales</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>553</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">603</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">608</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total APE sales<SUP STYLE="font-size:85%; vertical-align:top">(1) </SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,540</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,716</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,893</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Asia new business value</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,443</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,201</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">998</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canada new business value</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>207</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">191</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. new business value</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>98</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total new business value<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,748</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,443</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,196</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Wealth and asset management gross flows ($
billions)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>119.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">122.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">118.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Wealth and asset management net flows ($
billions)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Wealth and asset management assets under management and administration ($ billions)<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>608.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">609.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">554.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total assets under management and administration ($ billions)<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,083.5</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,071.3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,004.8</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Annualized premium equivalent
(&#147;APE&#148;) sales</B></FONT><FONT STYLE="font-family:ARIAL"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP> were $5,540&nbsp;billion in 2018, a decrease of 3%<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> compared with 2017. In
Asia, APE sales increased 6% in 2018 compared with 2017 driven by growth in most markets, including a 20% growth in sales through DBS Bank. 2018 APE sales in Japan declined 3% compared with 2017, as the impact of competitive pressure during the
first half of the year was largely offset by strong sales of our newly-launched corporate-owned life insurance (&#147;COLI&#148;) term product in the second half of the year. Hong Kong APE sales increased 11% in 2018 compared with 2017, driven by
growth in both our agency and bancassurance channels. Asia Other<SUP STYLE="font-size:85%; vertical-align:top">3</SUP> APE sales in 2018 increased 13% compared with 2017 as higher sales of protection products were partially offset by lower sales of
single premium investment-linked products, reflecting market volatility in 2018. In Canada, 2018 APE sales declined 29% compared with 2017, due to lower large-case group insurance sales. Canadian Individual insurance sales were in line with 2017 as
benefits from the launch of Manulife Par offset the impact of price increases in the prior year. In the U.S., APE sales declined 8% in 2018 compared with 2017 driven by increased competition in the international high net worth segment and actions to
maintain margins. </FONT></P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Percentage growth / declines in APE sales, gross flows, NBV, assets under management and administration, core earnings,
assets under management and core EBITDA are stated on a constant exchange rate basis. Constant exchange rate basis is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and
<FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Asia Other excludes Japan and Hong Kong. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>12</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>New business value (&#147;NBV&#148;)</B></FONT><FONT
STYLE="font-family:ARIAL"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP> was $1.7&nbsp;billion in 2018, an increase of 20% compared with 2017. In Asia, NBV increased 19% from 2017 to $1.4&nbsp;billion due to higher sales, scale benefits and
a favourable business mix. Canada NBV increased 8% to $207&nbsp;million as the benefits from the launch of Manulife Par and product repricing were partially offset by lower group insurance sales. U.S. NBV increased 90% to $98&nbsp;million driven by
product repricing to improve margins. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>WAM gross flows</B></FONT><FONT STYLE="font-family:ARIAL"><SUP
STYLE="font-size:85%; vertical-align:top">1</SUP> were $119&nbsp;billion in 2018, a decrease of 2% compared with 2017. The decrease was mainly driven by a slowdown in U.S. retail gross flows amid equity market declines and lower gross flows in
mainland China from retail money market funds. This was partially offset by growth of $5.4&nbsp;billion in institutional asset management driven by the launch of the John&nbsp;Hancock Infrastructure Fund and a real estate separately managed account,
and the funding of two large fixed income mandates. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>WAM net
flows</B></FONT><FONT STYLE="font-family:ARIAL"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP> were $1.6&nbsp;billion in 2018, compared with $18.3&nbsp;billion in 2017. Net flows in Asia were $5.7&nbsp;billion in 2018 compared with net flows
of $6.6&nbsp;billion in 2017, driven by lower gross flows in mainland China from retail money market funds. Net flows in Canada were $2.0&nbsp;billion in 2018 compared with net flows of $3.7&nbsp;billion in 2017, driven by higher retail redemptions.
Net flows in the U.S. were negative $6.1&nbsp;billion in 2018 compared with positive net flows of $7.9&nbsp;billion in 2017, driven by higher retail redemptions amid the declines in equity markets. </FONT></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under Management and Administration (&#147;AUMA&#148;)</B><SUP STYLE="font-size:85%; vertical-align:top">1</SUP><B> </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">AUMA<SUP STYLE="font-size:85%; vertical-align:top"> </SUP>as at December&nbsp;31, 2018 was $1,084&nbsp;billion as at December&nbsp;31, 2018, a decrease of 5%, compared
with December&nbsp;31, 2017, primarily due to the challenging macro-economic conditions in the fourth quarter of 2018. The Global Wealth and Asset Management portion of AUMA as at December&nbsp;31, 2018 was $609&nbsp;billion, a decrease of 6%,
compared with December&nbsp;31, 2017, driven by the same reason. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under Management and Administration </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">General fund</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>353,664</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">334,222</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">321,869</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net assets<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">315,177</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mutual funds, institutional asset management and other<SUP
STYLE="font-size:85%; vertical-align:top">(1),(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>292,200</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">289,559</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">255,685</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets under management</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>959,073</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">948,088</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">892,731</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other assets under administration</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>124,449</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">123,188</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">112,072</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets under management and administration</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,083,522</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,071,276</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,004,803</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Segregated fund assets, mutual fund assets and other funds are not available to satisfy the liabilities of the
Company&#146;s general fund. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Other funds represent pension funds, pooled funds, endowment funds and other institutional funds managed by the Company on
behalf of others. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Revenue </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Revenue includes (i)&nbsp;premiums received on life and health insurance policies and fixed annuity products, net of premiums ceded to reinsurers; (ii)&nbsp;investment
income comprised of income earned on general fund assets, credit experience and realized gains and losses on assets held in the Corporate segment; (iii)&nbsp;fee and other income received for services provided; and (iv)&nbsp;realized and unrealized
gains and losses on assets supporting insurance and investment contract liabilities and on our macro hedging program. Premium equivalents from administrative services only (&#147;ASO&#148;), as well as deposits received by the Company on investment
contracts such as segregated funds, mutual funds and managed funds are not included in revenue; however, the Company does receive fee income from these products, which is included in revenue. Fees generated from deposits and ASO premium and deposit
equivalents are an important part of our business and as a result, revenue does not fully represent sales and other activity taking place during the respective periods. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">For 2018, revenue before realized and unrealized investment gains and losses was $48.0&nbsp;billion compared with $52.6&nbsp;billion in 2017. The decrease was due to the
net impact on ceded premiums of reinsuring a block of our legacy U.S. individual pay-out annuity business in 2018 and a change to a reinsurance agreement in Canada Group Benefits, partially offset by business growth in Asia. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, the net realized and unrealized investment losses on assets supporting insurance and investment contract liabilities and on the macro hedging program were
$9.0&nbsp;billion compared with a gain of $5.7&nbsp;billion for full year 2017.&nbsp;The full year 2018 loss largely resulted from interest rate increases in both North America and Asia. Additional losses were driven by declining equity markets as
all major indices were down during the year. In 2017, the net realized and unrealized investment gains on assets supporting insurance and investment contract liabilities and on the macro hedging program were $5.7&nbsp;billion, primarily driven by
the<B> </B>decline in Canadian, U.S. and Hong Kong interest rates. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">See &#147;Impact of Fair Value Accounting&#148; below. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>13</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Revenue </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="76%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross premiums</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>39,150</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">36,361</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">36,659</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Premiums ceded to reinsurers</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(15,138</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(8,151</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(9,027</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net premium income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>24,012</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;28,210</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;27,632</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,560</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,649</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,390</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,428</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">10,746</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">11,181</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Revenue before realized and unrealized investment gains and losses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48,000</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52,605</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52,203</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Realized and unrealized investment gains and losses on assets
supporting insurance and investment contract liabilities and on the macro hedge program</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9,028</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,718</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,134</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>38,972</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">58,323</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">53,337</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Financial Strength </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Financial strength metrics </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="74%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions, unless otherwise stated)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">MLI&#146;s LICAT total ratio<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>143%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Financial leverage ratio</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>28.6%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30.3%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29.5%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Consolidated capital</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>56,010</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,659</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,235</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Book value per common share ($)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21.38</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18.89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19.37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Book value per common share excluding accumulated other
comprehensive income (&#147;AOCI&#148;) ($)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>18.23</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">16.83</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">16.66</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The Life Insurance Capital Adequacy Test (&#147;LICAT&#148;) framework replaced the Minimum Continuing Capital and Surplus
Requirements (&#147;MCCSR&#148;) framework on January&nbsp;1, 2018. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>The Life Insurance Capital
Adequacy Test (&#147;LICAT&#148;) total ratio</B></FONT><FONT STYLE="font-family:ARIAL"> for MLI was 143% as at December&nbsp;31, 2018, compared with a supervisory target of 100%. As this was the first year of the Office of Superintendent of
Financial Institutions&#146; new LICAT framework, replacing the Minimum Continuing Capital and Surplus framework, there are no prior year comparatives. See the &#147;Capital Management Framework &#150; Regulatory Capital Position&#148; section
below. </FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidated capital </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Consolidated capital<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> was $56.0&nbsp;billion as at December&nbsp;31, 2018 compared with $50.7&nbsp;billion as at
December&nbsp;31, 2017, an increase of approximately $5.3&nbsp;billion. The increase from December&nbsp;31, 2017 was primarily driven by net income attributed to shareholders net of dividends paid of $2.9&nbsp;billion, net capital issuances of
approximately $100&nbsp;million consisting of net subordinated debt and preferred shares issuances less the net impact of share buybacks and issuance of shares for the dividend reinvestment program (as senior debt is not included in the definition
of capital, the $400&nbsp;million of senior debt redeemed in 2018 did not impact the change in capital), and the net increase in AOCI. The net increase in AOCI was due to a weaker Canadian dollar compared to the U.S. dollar, partially offset by the
impact of higher interest rates and lower equity markets on assets classified as AFS.</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>MFC&#146;s financial leverage
ratio</B></FONT><FONT STYLE="font-family:ARIAL"> decreased to 28.6% as at December&nbsp;31, 2018 from 30.3% as at December&nbsp;31, 2017, driven by the increase of $5.0&nbsp;billion in equity, supported by earnings and the impact of a weaker
Canadian dollar compared with the U.S.&nbsp;dollar. </FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Book value per common share </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Book value per common share as at December&nbsp;31, 2018 was $21.38, an increase of 13% compared with $18.89 as at December&nbsp;31, 2017, and the book value per common
share excluding AOCI was $18.23 as at December&nbsp;31, 2018, an increase of 8% compared with $16.83 as at December&nbsp;31, 2017. The increase in the book value per common share is due to the $5.0&nbsp;billion increase in equity which included a
$2.1&nbsp;billion increase in AOCI. The number of common shares outstanding was 1,971&nbsp;million as at December&nbsp;31, 2018 and was 1,982&nbsp;million as at December&nbsp;31, 2017. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Impact of Fair Value Accounting </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Fair value
accounting policies affect the measurement of both our assets and our liabilities. The difference between the reported amounts of our assets and liabilities determined as of the balance sheet date and the immediately preceding balance sheet date in
accordance with the applicable <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> accounting principles is reported as investment-related experience and the direct impact of equity markets and interest
rates and variable annuity guarantees, each of which impacts net income. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We reported $9.0&nbsp;billion of net realized and unrealized investment losses in investment
income in 2018 (2017 &#150; gains of $5.7 billion). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As outlined under &#147;Critical Actuarial and Accounting Policies&#148; below, net insurance contract
liabilities under IFRS are determined using Canadian Asset Liability Method (&#147;CALM&#148;), as required by the Canadian Institute of Actuaries (&#147;CIA&#148;). The measurement of policy liabilities includes the estimated value of future
policyholder benefits and settlement obligations to be paid over the term remaining on </P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>14</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">
<FONT STYLE="white-space:nowrap">in-force</FONT> policies, including the costs of servicing the policies, reduced by the future expected policy revenues and future expected investment income on
assets supporting the policies. Investment returns are projected using the current asset portfolios and projected reinvestment strategies. Experience gains and losses are reported when current period activity differs from what was assumed in the
policy liabilities at the beginning of the period. We classify gains and losses by assumption type. For example, current period investing activities that increase (decrease) the future expected investment income on assets supporting the policies
will result in an investment-related experience gain (loss). See description of investment-related experience in &#147;Performance and <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As noted in &#147;Critical Actuarial and Accounting Policies &#150; Future Accounting and Reporting Changes&#148; below, IFRS 17 is expected to replace IFRS 4, and
therefore CALM, in 2022 and will materially change the recognition and measurement of insurance contracts and the corresponding presentation and disclosures in the Company&#146;s Consolidated Financial Statements and MD&amp;A. While there are many
differences, two items of note are: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Under IFRS 17, the discount rate used to estimate the present value of insurance liabilities is based on the characteristics
of the liability, whereas under CALM, as outlined below (&#147;Critical Actuarial and Accounting Policies &#150; Determination of Policy Liabilities &#150; Investment Returns&#148;), we use the returns in the current and projected assets supporting
the policy liabilities to value the liabilities. The difference in the discount rate approach also impacts the timing of investment-related experience earnings emergence. As outlined in the &#147;Performance and
<FONT STYLE="white-space:nowrap">Non-GAAP</FONT> measures&#148; section below, under CALM, investment-related experience includes investment experience and the impact of investing activities. Under IFRS 17, the impact of investing activities will
emerge over the life of the new asset. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Under IFRS 17, new business gains are recorded on the balance sheet and amortized into income as the services are provided.
Under CALM, new business gains (and losses) are recognized in income immediately. In 2018, we reported $746&nbsp;million <FONT STYLE="white-space:nowrap">(post-tax)</FONT> of new business gains in net income attributed to shareholders
(2017&#151;$680 million). </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Public Equity Risk and Interest Rate Risk </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">At December&nbsp;31, 2018, the impact of a 10% decline in equity markets was estimated to be a charge of $680&nbsp;million and the impact of a 50 basis point decline in
interest rates, across all durations and markets, on our earnings was estimated to be a charge of $100&nbsp;million. See &#147;Risk Management&#148; and &#147;Risk Factors&#148; below. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Impact of Foreign Exchange Rates </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have
worldwide operations, including in Canada, the United States and various markets in Asia, and generate revenues and incur expenses in local currencies in these jurisdictions, all of which are translated into Canadian dollars. The bulk of our
exposure to foreign exchange rates is to movements in the U.S. dollar. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Items impacting our Consolidated Statements of Income are translated to Canadian dollars using
average exchange rates for the respective quarterly period. For items impacting our Consolidated Statements of Financial Position, period end rates are used for currency translation purpose. The following table provides the most relevant foreign
exchange rates for 2018 and 2017. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT COLOR="#1f320c"><B>Exchange rate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Quarterly</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Full Year</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>4Q18</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">3Q18</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2Q18</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">1Q18</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">4Q17</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Average<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. dollar</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.3204</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.3070</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2912</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2647</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2712</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.2958</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2980</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Japanese yen</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.0117</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0117</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0118</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0117</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.0117</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0116</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Hong Kong dollar</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.1687</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.1666</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.1645</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.1616</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.1628</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.1654</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.1666</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Period end</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. dollar</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.3642</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2945</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.3168</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2894</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.3642</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Japanese yen</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.0124</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0119</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.0124</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Hong Kong dollar</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.1742</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">0.1654</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">0.1678</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">0.1643</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">0.1605</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.1742</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">0.1605</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Average rates for the quarter are from Bank of Canada which are applied against Consolidated Statements of Income items
for each period. Average rate for the full year is a <FONT STYLE="white-space:nowrap">4-point</FONT> average of the quarterly average rates. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Net
income attributed to shareholders and core earnings from the Company&#146;s foreign operations are translated to Canadian dollars, and in general, our net income attributed to shareholders and core earnings benefit from a weakening Canadian dollar
and are adversely affected by a strengthening Canadian dollar. However, in a period of losses, the weakening of the Canadian dollar has the effect of increasing the losses. The relative impact of foreign exchange in any given period is driven by the
movement of currency rates as well as the proportion of earnings generated in our foreign operations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Changes in foreign exchange rates had no material impact on
core earnings in 2018 compared with 2017. The impact of foreign currency on items excluded from core earnings does not provide relevant information given the nature of these items. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>15</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Strategic Highlights </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, Manulife continued to execute against our five priorities and ambition of becoming the most digital and customer-centric global company in our industry and
delivering top quartile shareholder return. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>To optimize our portfolio and put our capital to best use</B></FONT><FONT
STYLE="font-family:ARIAL"> we have set a target to release $5&nbsp;billion of capital related to our North American legacy businesses by 2022. Our North American legacy businesses include the U.S. long-term care business, most variable annuity
business, closed blocks of life insurance, and closed blocks of fixed products. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, we released $3.0&nbsp;billion of capital and have announced
initiatives that when fully executed are expected to release a further $0.7&nbsp;billion in 2019<SUP STYLE="font-size:85%; vertical-align:top">1</SUP>. Of the $3.0&nbsp;billion of capital released in 2018, $1.9&nbsp;billion related to a reduction in
the allocation to ALDA in the portfolio asset mix supporting our legacy business, and $1.1&nbsp;billion was from reinsurance and other actions in our North American legacy businesses ($0.6&nbsp;billion in the U.S. and $0.5 billion in Canada). The
reduction in the allocation to ALDA in our portfolio asset mix was the result of our decision announced in December 2017 to free up approximately $2&nbsp;billion in capital over <FONT STYLE="white-space:nowrap">12-18</FONT> months in our portfolio.
We expect to achieve the full reduction by <FONT STYLE="white-space:nowrap">mid-2019.</FONT><SUP STYLE="font-size:85%; vertical-align:top">1</SUP> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
STYLE="font-family:ARIAL" COLOR="#1f320c"><B>To aggressively manage our costs to be competitive and create value</B></FONT><FONT STYLE="font-family:ARIAL"> we are focused on a wide range of opportunities to simplify and digitize our processes and
leverage scale to drive cost savings. In 2018, we announced initiatives that we expect to deliver annual <FONT STYLE="white-space:nowrap">pre-tax</FONT> <FONT STYLE="white-space:nowrap">run-rate</FONT> savings of over $300&nbsp;million, the vast
majority of which are to be achieved by the end of 2019. The initiatives included a voluntary exit program as part of our Canadian operations transformation program and a voluntary retirement program for eligible staff in North America. We also
commenced the optimization of our real estate foot print in the U.S. and Canada and launched a multi-year IT outsourcing initiative in the U.S. In addition, aligned with improving our employee engagement and customer experience, we commenced a
number of initiatives designed to improve processes and customer experience while also reducing costs. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have set a target to achieve a 50% expense
efficiency ratio and approximately $1&nbsp;billion in expense savings and avoidance by 2022. In 2018, our expense efficiency ratio was 52% and we achieved expense savings and avoidance of $300&nbsp;million. While we are pleased that we have managed
expense growth to less than half of historic levels, it is still early in our expense efficiency journey and the ratio will fluctuate as we invest in our strategic and regulatory initiatives and execute on our expense efficiency actions. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>To accelerate growth in our highest potential businesses,</B></FONT><FONT STYLE="font-family:ARIAL"> (Asia, Global WAM,
group insurance in Canada, and behavioural insurance products), we are focused on a number of initiatives to expand our distribution network, products and services. For example, with respect to behavioural insurance, in 2018 we: launched our
ManulifeMOVE program in Singapore; increased the number of ManulifeMOVE eligible products and distributors in Hong Kong and mainland China; expanded the Manulife Vitality program to all Individual Family Term products and announced the Group
Insurance Manulife Vitality program in Canada; and launched John&nbsp;Hancock Vitality GO on all life insurance policies in the U.S. Other growth initiatives for each segment are outlined in the &#147;Strategic Highlights&#148; section of each
segment below. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have set a target to generate <FONT STYLE="white-space:nowrap">two-thirds</FONT> of core earnings from high potential businesses by 2022. In
2018, these businesses generated over 55% of our core earnings. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>To put customers first</B></FONT><FONT
STYLE="font-family:ARIAL"> we are implementing a number of customer-centric digital processes and systems. Examples in 2018 include simplifying the submission and claims processing for our customers in Asia, being the first Canadian life insurer to
underwrite using artificial intelligence, introducing a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">direct-to-consumer</FONT></FONT> financial advice platform in the U.S., and launching an innovative goals-based investing
program in Canada. Customer initiatives for each of our segments are outlined in the &#147;Performance by Segment &#150; Strategic Highlights&#148; sections below. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">To measure our progress, we are currently implementing net promoter score (&#147;NPS&#148;) systems in all markets and have set a target to improve our NPS, a standard
measure of customer satisfaction, by 30 points by 2022. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>To have a high-performing team </B></FONT><FONT
STYLE="font-family:ARIAL">we are focused on fostering the right culture to continue to attract, retain and develop the best talent in all our geographies and to engage and excite our employees to rally around our customers. In 2018, we launched our
new corporate values which define how we operate and how we work together. They inform how we interact with each other and our customers. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have set a target
to achieve top quartile employee engagement compared to global financial services companies by 2022, and in 2018 we were slightly above the median, placing us in the lower part of the 2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>
quartile. Our plans to streamline processes and systems noted in the expense and customer priorities above, are underpinned by areas identified by our employees which will also improve engagement. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Caution regarding forward-looking statements&#148; above. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>16</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_4"></A>Asia </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Our Asia segment is a leading provider of insurance products and insurance-based wealth accumulation products, driven by a customer-centric
strategy. Present in many of Asia&#146;s largest and fastest growing economies, we have operations in the following markets: Japan, Hong Kong, Macau, Singapore, mainland China, Indonesia, Vietnam, the Philippines, Malaysia, Cambodia and Thailand. We
are strongly positioned to capitalize on the attractive underlying demographics of the region, underpinned by a rigorous focus on creating value for our customers, employees and shareholders. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We have a diversified multi-channel distribution network, including nearly 80,000 contracted agents and over 100 bank partnerships. We also work
with many independent agents, financial advisors and brokers. Among our bancassurance partnerships we have eight exclusive partnerships, including a long-term partnership with DBS across Singapore, Hong Kong, mainland China and Indonesia, that give
us access to more than 14&nbsp;million bank customers. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, Asia contributed 29% of the Company&#146;s core earnings from operating segments and, as
at December&nbsp;31, 2018, accounted for 10% of the Company&#146;s assets under management and administration. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Profitability
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Asia reported net income attributed to shareholders of $1,687&nbsp;million in 2018 compared with $1,834&nbsp;million in 2017. Net income attributed to
shareholders is comprised of core earnings, which was $1,749&nbsp;million in 2018 compared with $1,453&nbsp;million in 2017, and items excluded from core earnings, which amounted to a net charge of $62&nbsp;million for 2018 compared with a net gain
of $381&nbsp;million in 2017. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Expressed in U.S. dollars, the presentation currency of the segment, net income attributed to shareholders was US$1,303&nbsp;million in
2018 compared with US$1,410&nbsp;million in 2017 and core earnings were US$1,349&nbsp;million in 2018 compared with US$1,121&nbsp;million in 2017. Items excluded from core earnings are outlined in the table below and amounted to a net charge of
US$46&nbsp;million in 2018 and a net gain of US$289&nbsp;million in 2017. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Core earnings in 2018 increased 20% compared with 2017, after adjusting for the impact of
changes in foreign currency exchange rates. The increase in core earnings was driven by the favourable impact of new business from higher sales volume and improved product mix, and <FONT STYLE="white-space:nowrap">in-force</FONT> business growth.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The table below reconciles net income attributed to shareholders to core earnings for Asia for 2018, 2017 and 2016. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Canadian $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>US $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,749</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,453</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,321</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,349</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;998</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Items to reconcile core earnings to net income attributed to shareholders:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Direct impact of equity markets and interest rates and variable annuity guarantee liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(375</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(433</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(287</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(326</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Investment-related experience related to fixed income trading, market value increases in excess of expected
alternative assets investment returns, asset mix changes and credit experience</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>284</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">242</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>219</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">186</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Change in actuarial methods and assumptions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">166</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(161</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(122</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(39</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(31</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income attributed to
shareholders<SUP STYLE="font-size:85%; vertical-align:top"> </SUP></B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,687</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,834</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">818</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,303</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,410</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">619</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The direct impact of equity markets and interest rates is relative to our policy liability valuation assumptions and
includes changes to interest rate assumptions. The net charge of $375&nbsp;million in 2018 (2017 &#150; net gain of $12 million) consisted of a $23&nbsp;million charge (2017 &#150; $47&nbsp;million gain) related to variable annuities that are not
dynamically hedged, a charge of $317&nbsp;million (2017 &#150; $130&nbsp;million gain) on general fund equity investments supporting policy liabilities, a $27&nbsp;million charge (2017 &#150; $151&nbsp;million charge) related to fixed income
reinvestment rates assumed in the valuation of policy liabilities and a $8&nbsp;million charge (2017 &#150; $12&nbsp;million charge) related to variable annuity guarantee liabilities that are dynamically hedged. The amount of variable annuity
guaranteed value that was dynamically hedged at the end of 2018 was 99% (2017 &#150; 92%). Our variable annuity guarantee dynamic hedging strategy is not designed to completely offset the sensitivity of policy liabilities to all risks associated
with the guarantees embedded in these products. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Other items in 2017 included restructuring costs in Thailand. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Growth </B><I><FONT STYLE="font-family:ARIAL; font-size:9pt">(</FONT></I><B></B><I><FONT STYLE="font-family:ARIAL; font-size:9pt">all
percentages quoted are on a constant exchange rate basis</FONT></I><B></B><I><FONT STYLE="font-family:ARIAL; font-size:9pt">)</FONT></I><B> </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Annualized premium equivalent (&#147;APE&#148;) sales</B></FONT><FONT STYLE="font-family:ARIAL"> in 2018 were US$3,094&nbsp;million, 6% higher than 2017 as sales growth in Hong Kong and Asia Other was
partially offset by lower sales in Japan. In Japan, APE sales in 2018 were US$1,087&nbsp;million, a decrease of 3% compared with 2017. While we experienced a sales decline in the first half of 2018 as a result of strong competition in the
Corporate-owned life insurance (&#147;COLI&#148;) term product segment, this was largely offset by the successful launch of a new COLI term product in the second half of the year, which drove sales growth of 26% compared with the second half of
2017. Hong Kong APE </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>17</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">
sales in 2018 were US$647&nbsp;million, an increase of 11% compared with 2017, driven by growth in both our agency and bancassurance channels. Asia Other APE sales in 2018 were
US$1,360&nbsp;million, an increase of 13% compared with 2017. Higher sales in protection products were partially offset by lower sales in single premium investment-linked products, reflecting market volatility in 2018. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><B><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">New business value (&#147;NBV&#148;)</FONT></B> was US$1,112&nbsp;million in 2018, exceeding US$1&nbsp;billion for the
first time and representing an increase of 19% compared with 2017. We experienced growth across all of our businesses in Asia. In Japan, NBV in 2018 was US$329&nbsp;million, an increase of 8% compared with 2017 due to higher margins from improved
product mix and management actions. In Hong Kong, NBV in 2018 was US$418&nbsp;million, an increase of 21% compared with 2017 resulting from higher sales and continued success of our critical illness products. Asia Other NBV in 2018 was
US$365&nbsp;million, an increase of 30% compared to 2017. The NBV margin was 38.0% in 2018, an increase of 3.9 percentage points compared to 2017. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>APE Sales and NBV </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Canadian $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>US $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Annualized premium equivalent sales</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;4,012</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;3,747</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;3,307</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;3,094</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;2,887</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;2,498</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">New business value</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,443</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,201</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">998</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,112</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">926</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">754</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="32"> <P STYLE="font-size:14pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under Management</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Asia&#146;s assets under management were US$78.2&nbsp;billion as at December&nbsp;31, 2018, an increase of US$5.1&nbsp;billion or 8% compared with December&nbsp;31, 2017,
driven by net customer inflows of US$10&nbsp;billion partially offset by the impact of the challenging macro-economic conditions in the fourth quarter of 2018.</P> <P STYLE="font-size:14pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under Management</B></FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE="font-size:14pt; margin-top:0pt; margin-bottom:0pt"></P> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>&nbsp;</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:9pt; font-family:ARIAL">&nbsp;</P> <P STYLE="font-size:14pt; margin-top:0pt; margin-bottom:0pt"></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>&nbsp;</B></FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt"></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Canadian $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>US $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">General fund</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>87,323</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">72,777</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">62,343</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>64,010</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">58,009</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">46,423</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>19,333</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">18,917</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">18,348</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>14,176</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">15,074</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">13,659</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets under management</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;106,656</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;91,694</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;80,691</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;78,186</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;73,083</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;60,082</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Revenue </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Total
revenue in 2018 of US$15.2&nbsp;billion decreased US$0.8&nbsp;billion compared with 2017, of which US$3.2&nbsp;billion related to a net decrease in realized and unrealized investment gains and losses, primarily due to market conditions, including a
decline in equity markets in 2018. Revenue before net realized and unrealized investment gains and losses increased US$2.4&nbsp;billion compared with 2017 and included an increase in net premium income of US$1.9&nbsp;billion. This increase was
primarily driven by the growth of new and <FONT STYLE="white-space:nowrap">in-force</FONT> business, partly offset by a decline in single premium sales in Japan. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Revenue </B></FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT STYLE="font-size:7pt"><B>Canadian $</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT STYLE="font-size:7pt"><B>US $</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross premiums</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;18,768</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;16,215</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16,012</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;14,483</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;12,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;12,084</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Premiums ceded to reinsurers</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(656</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(503</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(428</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(507</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(384</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(327</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net premium income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18,112</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,712</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,584</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,976</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,116</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,757</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,333</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,825</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,799</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,543</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,378</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,296</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">934</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,029</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,000</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">719</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">780</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Revenue before net realized and unrealized investment gains</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;and losses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21,741</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,646</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,438</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,775</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,378</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,915</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net realized and unrealized investment gains and losses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,054</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,044</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">299</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,599</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,563</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">212</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>19,687</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">20,690</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">18,737</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>15,176</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">15,941</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">14,127</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>18</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Strategic Highlights </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Asia continues to be a core driver of growth for Manulife, supported by a clear strategy, a focus on execution, a strong team, and a diversified footprint in 12 markets
with a compelling economic backdrop. We operate in many of the fastest growing markets in the world, and middle-class emergence, combined with an estimated doubling of household wealth in Asia from 2015 to 2025<SUP
STYLE="font-size:85%; vertical-align:top">1</SUP>, will continue to drive demand for financial solutions. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, we continued to accelerate our growth by expanding
our distribution reach and we implemented a number of changes to enhance customer experience. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our expansion actions included: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Increasing the number of agents by 13% to nearly 80,000. Our number of Million Dollar Round Table agents has increased to
3,000, up by 41% over 2017. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Continuing our momentum in bancassurance. We now have eight exclusive bancassurance partnerships, including a major <FONT
STYLE="white-space:nowrap">pan-Asia</FONT> partnership with DBS, giving us access to more than 14&nbsp;million bank customers. Our most recent is a <FONT STYLE="white-space:nowrap">15-year</FONT> exclusive bancassurance partnership with Sathapana
Bank in Cambodia; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Adding a number of managed general agencies in Japan to our existing network. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, we rolled out a number of key initiatives, advancing our digital strategy. These included: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Introducing facial recognition that allows real-time verification for our agents and policyholders in mainland China;
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Launching eClaims in Hong Kong, Japan and Vietnam to simplify the submission and claim processes for our customers and
improving efficiency; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Enhancing our award-winning<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> electronic
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">point-of-sale</FONT></FONT> systems in Japan with more product offerings and customer-focused functionality; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Launching our ManulifeMOVE behavioural insurance program in Singapore. In addition, in Hong Kong and mainland China, we
increased the number of ManulifeMOVE eligible products and the number of retail partners. As a result, ManulifeMOVE enrolment doubled in 2018; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Sponsoring a number of health and wellness events across Asia to promote the benefits of our behavioural insurance
offerings. Our customers are our priority and we have seen our NPS improve to +5.4 in Asia. Furthermore, we added more than 1 million new customers bringing our total to over 10 million customers; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Signing a strategic partnership in mainland China with leading healthcare platform 111, Inc., to explore opportunities for
innovative products and services using the combined capabilities of both partners. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our Asia business remains focused on expanding our distribution,
digitizing our existing channels and processes, and building our digital capabilities. To accelerate our execution in 2018, we attracted top talent and have recruited various executives for the Asia segment. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Source: Asia household wealth in 2015&nbsp;&nbsp;&#150;&nbsp;&nbsp;Economic Intelligence Unit; and in
2025&nbsp;&nbsp;&#150;&nbsp;&nbsp;Manulife&nbsp;&amp; Oliver Wyman estimates </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Received University&nbsp;&amp; College Designers Association (&#147;UCDA&#148;) award (2018) </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>19</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_5"></A>Canada </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Our Canada segment is a leading financial services provider, offering insurance products, insurance-based wealth accumulation products and
banking services, and leveraging the asset management expertise and products managed by our Global Wealth and Asset Management segment. The comprehensive solutions we offer target a broad range of customer needs and foster holistic long-lasting
relationships. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We offer financial protection solutions to middle- and upper-income individuals, families and business owners
through a combination of competitive products, professional advice and quality customer service. We provide group life, health and disability insurance solutions to Canadian employers, with more than 22,000 Canadian businesses and organizations
entrusting their employee benefit programs to Manulife&#146;s Group Insurance. We also provide life, health and specialty products, such as travel insurance, through advisors, sponsor groups and associations, as well as <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">direct-to-customer.</FONT></FONT> We continue to increase the proportion of products with behavioural insurance features. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Manulife Bank offers flexible debt and cash flow management solutions as part of a customer&#146;s overall financial plan. Products include
savings and chequing accounts, GICs, lines of credit, investment loans, mortgages and other specialized lending programs, offered through financial advisors supported by a broad distribution network. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, Canada contributed 23% of the Company&#146;s core earnings from operating segments and, as at December&nbsp;31, 2018, accounted for 13% of the Company&#146;s
assets under management and administration. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Profitability </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Canada&#146;s full year 2018 net income attributed to shareholders was $1,011&nbsp;million compared with $554&nbsp;million in 2017. Net income attributed to shareholders
is comprised of core earnings, which was $1,356&nbsp;million in 2018 compared with $1,209&nbsp;million in 2017, and items excluded from core earnings amounted to a net charge of $345&nbsp;million for 2018 compared with a net charge of
$655&nbsp;million in 2017. Items excluded from core earnings are outlined in the table below. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The $147&nbsp;million or 12% increase in core earnings was driven by
favourable policyholder experience in our group insurance business, compared with unfavourable policyholder experience in 2017, and the impact of new business in individual insurance from both the sales of the Manulife Par product launched in the
second half of 2018 and price increases put in place in late 2017. These increases were partially offset by lower gains related to the release of provisions for uncertain tax positions of prior years. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The table below reconciles net income attributed to shareholders to core earnings for Canada for 2018, 2017 and 2016. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,356</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,209</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,191</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Items to reconcile core earnings to net income attributed to shareholders:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Investment-related experience related to fixed income trading, market value increases in excess of expected
alternative assets investment returns, asset mix changes and credit experience</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>240</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(99</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(112</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Direct impact of equity markets and interest rates and variable annuity guarantee liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(2) </SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(307</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(227</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">270</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Change in actuarial methods and assumptions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(370</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Charge related to decision to change portfolio asset mix supporting our legacy businesses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(343</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impact related to U.S. Tax Reform</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B></B>&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)</B>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Reinsurance transactions and other<SUP
STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>94</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(22</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(31</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,011</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">554</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,349</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The direct impact of equity markets and interest rates is relative to our policy liability valuation assumptions and
includes changes to interest rate assumptions. The charge of $307&nbsp;million in 2018 (2017 &#150; $227&nbsp;million charge) consisted of a $109&nbsp;million charge (2017 &#150; $35&nbsp;million gain) on general fund equity investments supporting
policy liabilities, a $94&nbsp;million charge (2017 &#150; $210&nbsp;million charge) related to fixed income reinvestment rates assumed in the valuation of policy liabilities, nil (2017 &#150; $1&nbsp;million gain) related to unhedged variable
annuities and a $104&nbsp;million charge (2017 &#150; $53&nbsp;million charge) related to variable annuity guarantee liabilities that are dynamically hedged. The percentage of variable annuity guaranteed value that was dynamically hedged at the end
of 2018 was 76% (2017 &#150; 81%). The decrease in percentage dynamically hedged is a result of the increase in lower risk segregated fund products. Our variable annuity guarantee dynamic hedging strategy is not designed to completely offset the
sensitivity of policy liabilities to all risks associated with the guarantees embedded in these products. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The 2018 gain of $94&nbsp;million was driven by gains from reinsurance transactions. The 2017 and 2016 charges of
$22&nbsp;million and $31&nbsp;million, respectively, included integration and acquisition items. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Growth
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>APE sales</B></FONT><FONT STYLE="font-family:ARIAL"> were $975&nbsp;million in 2018, a decrease of
$391&nbsp;million or 29% compared with 2017 due to the <FONT STYLE="white-space:nowrap">non-recurrence</FONT> of a large-case group insurance sale in the prior year. For this reason, group insurance APE sales in 2018 of $456&nbsp;million decreased
$359&nbsp;million or 44% compared with 2017. Individual insurance APE sales in 2018 of $289&nbsp;million were in line with 2017, as sales from the Manulife Par product launched in 2018, were offset mainly by lower sales due to the price increases in
late 2017. Annuities APE sales in 2018 of $230&nbsp;million decreased $30&nbsp;million or 12% compared with 2017 due to actions to <FONT STYLE="white-space:nowrap">de-emphasize</FONT> higher risk segregated fund sales. We are focused on growth in
lower risk segregated fund products, which in 2018 grew by 6% and accounted for 75% of Annuity APE sales. </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>20</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Sales </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="70%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Annualized premium equivalent (&#147;APE&#148;) sales</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;975</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,366</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;978</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Manulife Bank </B></FONT><FONT STYLE="font-family:ARIAL">average net lending assets
were $21.0&nbsp;billion in 2018, up $1.1&nbsp;billion or 5% from 2017. </FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under Management </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Assets under management of $142.9&nbsp;billion as at December&nbsp;31, 2018 decreased by $1.7&nbsp;billion or 1% from $144.6&nbsp;billion at December&nbsp;31, 2017. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under Management </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">General fund</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;109,614</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;108,160</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;106,235</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>33,306</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">36,460</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">36,153</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets under management</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;142,920</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;144,620</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;142,388</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Revenue </B></FONT><FONT STYLE="font-family:ARIAL">of $13.6&nbsp;billion in 2018
increased $2.4&nbsp;billion from $11.2&nbsp;billion in 2017. Revenue before net realized and unrealized investment gains and losses of $15.0&nbsp;billion in 2018 increased $4.4&nbsp;billion from $10.6&nbsp;billion in 2017, driven by a change made to
a reinsurance agreement in 2018 (impact was to premiums ceded of $3.8 billion and to other revenue of $0.4 billion). </FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Revenue
</B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross premiums</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;10,974</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;10,124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;10,708</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Premiums ceded to reinsurers</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,547</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(5,359</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(5,736</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net premium income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9,427</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,765</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,972</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,158</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,958</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,936</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,446</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,862</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,111</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Revenue before net realized and unrealized investment gains and losses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,031</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,585</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,019</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net realized and unrealized investment gains and losses<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,394</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">602</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">316</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;13,637</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;11,187</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;11,335</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Financial Performance &#150; Impact of Fair Value Accounting&#148; above. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Strategic Highlights </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, we continued to
revitalize and modernize our business by further expanding our product shelf and continuing to build a customer-centric digital platform. We executed a number of significant actions on our legacy business and successfully executed on our expense
reduction strategy to strengthen financial results and improve the risk-return profile in our home market. Our Canada segment remains focused on building and fostering holistic long-lasting relationships by expanding and integrating our insurance,
insurance-based wealth accumulation and banking solutions to meet customers&#146; needs and by leveraging the strength of our group franchise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We are revitalizing
our business by expanding our product shelf and modernizing our delivery process. In 2018, we: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Launched Manulife Par, our new participating whole life insurance product, to provide greater choice for our customers and
as an opportunity for Manulife to build market share in the whole life market which accounts for over half of the Canadian industry&#146;s individual life insurance new business;<SUP STYLE="font-size:85%; vertical-align:top">1</SUP>
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Expanded the Vitality program to all Individual Insurance Family Term products, becoming the market leader in behavioural
insurance with approximately 32% of eligible customers choosing the Manulife Vitality feature; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Announced the Group Insurance Manulife Vitality program. Available in the spring of 2019, the focus of this program is to
encourage participants to make healthy choices and employers to drive higher engagement and productivity; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Launched a new website and expanded digital solutions for Manulife Bank making it easier for our customers to do business
with us. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have made a number of enhancements to our customer-focused platforms across our product lines. In 2018, we: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Introduced artificial intelligence underwriting to the Canadian life insurance market, which improves efficiency and
shortens our response time to customers; </P></TD></TR></TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Source: Third quarter 2018 LIMRA market data. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>21</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Partnered with Canada&#146;s largest pharmacy chain, Shoppers Drug Mart, to launch the first medical marijuana program in
Canada to help customers receive the right strain and formulation for their condition; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Achieved two million robotics-processed transactions, which improves efficiency and makes it easier for our customers to do
business with us through faster processing times and improved transaction quality; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Increased our paperless claims process to over 80% of all Group Insurance claims; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Launched our new Life Moments strategy, focusing on personalizing customer experience for key life moments, when our
customers need us most. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We are also focused on optimizing capital in our legacy businesses and in 2018 we released approximately $500&nbsp;million
of capital. In 2018, we entered into four reinsurance transactions to reduce risk and free up a total of $400&nbsp;million of capital. These transactions included reinsuring the mortality and lapse risk on a portion of our Canadian legacy universal
life policies as well as longevity risk on our Canadian group annuity policies. In addition, we offered some of our customers in our legacy segregated fund products an opportunity to convert their policy to a lower risk segregated fund product which
released over $100&nbsp;million of capital. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">With respect to managing expenses, we began execution on our initiatives to digitize and consolidate a number of
back-office functions, resulting in a workforce reduction through a voluntary exit program and natural attrition. We also offered a voluntary retirement plan and announced and commenced our plans to consolidate our real estate footprint. The real
estate consolidation and office space reconfiguration will also create a more collaborative work environment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>22</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_6"></A>U.S. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Our U.S. segment provides a broad portfolio of life insurance products, insurance-based wealth accumulation products, digital advice solutions,
and administers our <FONT STYLE="white-space:nowrap">in-force</FONT> long-term care insurance and our annuity businesses. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>The
insurance products we offer are designed to provide estate, business and income-protection solutions for high net worth, emerging affluent markets and the middle market, and to leverage the asset management expertise and products managed by our
Global Wealth and Asset Management business. The primary distribution channel is licenced financial advisors, with some <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">direct-to-consumer</FONT></FONT> insurance business.
Behavioural insurance features are standard on all our new insurance product offerings. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Long-term care insurance provides
coverage for the cost of long-term services and support. We ceased selling stand-alone long-term care products but continue to offer long-term care coverage as an accelerated benefit rider to our wide range of life insurance products.
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Our <FONT STYLE="white-space:nowrap">in-force</FONT> annuity business includes fixed deferred, variable deferred, and payout
products. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Through our digital-advice capabilities and platform, we hope to establish lifelong customer relationships that benefit
from our holistic protection and wealth product offerings in the future. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, U.S. contributed 31% of the Company&#146;s core earnings from operating
segments and, as at December&nbsp;31, 2018, accounted for 21% of the Company&#146;s assets under management and administration. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Profitability </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">U.S. reported net income
attributed to shareholders of $2,332&nbsp;million in 2018 compared with a net loss attributed to shareholders of $1,201&nbsp;million in 2017. Net income attributed to shareholders is comprised of core earnings, which was $1,830&nbsp;million in 2018
compared with $1,609&nbsp;million in 2017, and items excluded from core earnings, which amounted to a net gain of $502&nbsp;million in 2018 compared with a net charge of $2,810&nbsp;million in 2017. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Expressed in U.S. dollars, the functional currency of the segment, 2018 net income attributed to shareholders was US$1,800&nbsp;million compared with a net loss
attributed to shareholders of US$992&nbsp;million in 2017 and core earnings were US$1,412&nbsp;million in 2018 compared with US$1,241&nbsp;million in 2017. Items excluded from core earnings are outlined in the table below and amounted to a net gain
of US$388&nbsp;million in 2018 compared with a net charge of US$2,233&nbsp;million in 2017. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The US$171&nbsp;million increase in core earnings was driven by the
favourable impact of lower U.S. tax rates and favourable policyholder experience compared with unfavourable policyholder experience in 2017 (long-term care policyholder experience was neutral in 2018). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The table below reconciles net income attributed to shareholders to core earnings for the U.S. for 2018, 2017 and 2016. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Canadian $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>US $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,830</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;1,609</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,317</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,412</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;1,241</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;993</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Items to reconcile core earnings to net income attributed to shareholders:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment-related experience related to fixed income trading, market value increases in excess of expected
alternative assets investment returns, asset mix changes and credit experience</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">343</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">149</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">263</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Direct impact of equity markets and interest rates and variable annuity guarantee liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>236</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">505</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(515</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>191</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">384</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(387</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in actuarial methods and assumptions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>286</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(245</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(325</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>219</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(195</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(250</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact related to U.S. Tax Reform</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,822</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,220</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Charge related to decision to change portfolio asset mix supporting our legacy businesses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(689</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(542</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Intangible <FONT STYLE="white-space:nowrap">write-off</FONT> (Long Term Care)<SUP
STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(97</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(74</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other<SUP STYLE="font-size:85%; vertical-align:top">(4)
</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(30</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(11</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(27</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss) attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"><B>2,332</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(1,201</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">518</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"><B>1,800</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(992</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">396</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The direct impact of equity markets and interest rates is relative to our policy liability valuation assumptions and
includes changes to interest rate assumptions. Our variable annuity guarantee dynamic hedging strategy is not designed to completely offset the sensitivity of policy liabilities to all risks associated with the guarantees embedded in these products.
The US$191&nbsp;million gain in 2018 (2017 &#150; US$384&nbsp;million gain) consisted of a US$184&nbsp;million charge (2017 &#150; US$114&nbsp;million gain) related to variable annuities that are dynamically hedged, a US$22&nbsp;million charge (2017
&#150; US$46&nbsp;million gain) on general fund equity investments supporting policy liabilities, a US$50&nbsp;million charge (2017 &#150; US$123&nbsp;million gain) related to variable annuities that are not dynamically hedged, and a
US$446&nbsp;million gain (2017 &#150; US$102&nbsp;million gain) related to fixed income reinvestment rates assumed in the valuation of policy liabilities. The amount of variable annuity guaranteed value that was dynamically hedged or reinsured at
the end of 2018 was 93% (2017 &#150; 94%). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The 2016 charge of US$74&nbsp;million relates primarily to the intangible asset distribution network <FONT
STYLE="white-space:nowrap">write-off</FONT> in the John Hancock Long Term Care business. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The 2018 charge of US$27&nbsp;million included a provision for a legal settlement of US$72&nbsp;million, partially offset
by a gain of US$51&nbsp;million from external reinsurance transactions. The 2017 gain of US$77&nbsp;million included a gain resulting from an internal legal entity restructuring partially offset by a provision for a legal settlement.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>23</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Growth </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>U.S. APE sales</B></FONT><FONT STYLE="font-family:ARIAL"> in 2018 of US$426&nbsp;million declined 8% compared with
2017, driven by increased competition in the international high net worth segment and actions to maintain margins. Sales of products with the Vitality Plus feature in 2018 were US$101&nbsp;million, an increase of 52% compared with 2017. </FONT></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Sales</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B> </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


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<TD WIDTH="61%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
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<TD></TD>
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<TD VALIGN="bottom" WIDTH="3%"></TD>
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<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
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<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD>
<TD></TD>
<TD></TD>
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<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Canadian $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>US $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2018</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2017</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2016</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2018</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2017</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2016</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">APE
sales<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;553</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;603</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;552</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;426</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;464</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;417</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Does not include sales of long-term care products of US$42&nbsp;million in 2016. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under Management </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">U.S. assets under
management of US$165.1&nbsp;billion as at December&nbsp;31, 2018 declined by 9% from December&nbsp;31, 2017. The decrease was driven by the impact of the reinsurance transactions noted above, the continued
<FONT STYLE="white-space:nowrap">run-off</FONT> of our annuities business and the impact of market movements on the fair value of assets held in our general and segregated funds. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under Management </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Canadian $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>US $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">General fund</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;152,398</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;150,837</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;151,968</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;111,713</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;120,237</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;113,186</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>72,875</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">77,998</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">79,670</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>53,420</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">62,174</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">59,339</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets under management</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>225,273</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">228,835</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">231,638</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>165,133</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">182,411</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">172,525</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Revenue </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Total
revenue in 2018 of US$531&nbsp;million decreased US$15.9&nbsp;billion compared with 2017. Revenue before net realized and unrealized investment gains and losses was US$5.0&nbsp;billion, a decrease of US$9.0&nbsp;billion compared with 2017 primarily
due the impact on ceded premiums of US$8.1 billion and other revenue of US$0.4&nbsp;billion from the 2018 reinsurance transactions related to our legacy business. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Revenue </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Canadian $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>US $</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross premium income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,335</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">9,939</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">9,863</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;7,201</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">7,667</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">7,443</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Premiums ceded to reinsurers</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(12,961</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2,317</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2,876</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9,878</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,786</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2,157</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net premium income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3,626</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,622</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,987</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,677</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,881</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,286</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,344</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,382</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,972</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,665</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,689</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,265</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,542</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,040</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,025</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,966</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,341</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,286</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Revenue before items noted below</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,260</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,044</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,984</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,954</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,911</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,837</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net realized and unrealized investment gains and losses<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(5,621</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3,274</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,033</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(4,423</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,495</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">790</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>639</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;21,318</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;18,017</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>531</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;16,406</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;13,627</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Financial Performance &#150; Impact of Fair Value Accounting&#148; above. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Strategic Highlights </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">At John Hancock, we are
focused on building more holistic and long-lasting customer relationships by offering innovative products and solutions and making it easier for customers to do business with us. We are focused on revitalizing our insurance business by expanding our
product shelf, modernizing the delivery process, and enhancing customer experience. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, we: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Became the first U.S. life insurance company to fully embrace behavioural-based life insurance with the October 1<SUP
STYLE="font-size:85%; vertical-align:top">st</SUP> launch of John&nbsp;Hancock Vitality Go on all life insurance policies at no additional cost. This basic, &#147;be healthy&#148; version of the program provides access to expert fitness and
nutritional resources, and personalized health goals that when achieved unlock rewards and discounts at major brand outlets; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Enhanced our behavioural insurance offering by launching the HealthyMind initiative, a component of our John Hancock
Vitality offering, which rewards customers for meditation and sleep activities; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Introduced Twine, the first mass-market offering from John Hancock Digital Advice, a nascent
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">direct-to-consumer</FONT></FONT> financial advice platform that has attracted interest in the competitive robo-advisory market; it was the first financial robo-advisor app to be
featured as Apple&#146;s iPhone App of the Day. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>24</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We continued to actively manage our legacy businesses and maintain sharp focus on expenses across all business lines.
In 2018, we: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Reinsured substantially all of our legacy individual and group payout annuity businesses (the portions of these transactions
related to New York business will close separately in 2019, subject to regulatory approval) and sold Signator Investors, our wholly-owned broker-dealer. These transactions released approximately $600&nbsp;million of capital in 2018 and are expected
to release a further $600&nbsp;million in 2019<SUP STYLE="font-size:85%; vertical-align:top">1</SUP>; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Stopped selling Corporate and Bank-owned life insurance products, a <FONT STYLE="white-space:nowrap">low-return</FONT>
offering in our U.S. product portfolio; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Continued to make progress on our long-term care rerate approvals: additionally, our customer-centric approach includes
choices available to policyholders to manage their costs through benefit elections; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Ceased selling annuity and stand-alone long-term care products but continued to offer long-term care coverage as an
accelerated benefit rider on our wide range of life insurance products; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Entered into a multi-year IT outsourcing initiative, offered a voluntary retirement plan and consolidated our real estate
footprint for our U.S. regional head office. The real estate consolidation and office space reconfiguration also created a more collaborative work environment. </P></TD></TR></TABLE>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Caution regarding forward-looking statements&#148; above. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>25</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_6a"></A>Global Wealth and Asset Management </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Our Global Wealth and Asset Management segment serves individual investors and institutional clients in three business lines: Retirement, Retail
and Institutional Asset Management. We have operations in 16 markets, and leverage our Asia, Canada and U.S. segments. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Retirement
provides financial advice, investment products and electronic record-keeping services to over seven million individual participants in North America and Asia. In North America, our Canadian Group Retirement business focuses on providing retirement
solutions through defined contribution and defined benefit plans; and in the United States, John&nbsp;Hancock Retirement Plan Services provides employer sponsored retirement plans and also services personal retirement accounts for former client
employees. In Asia, we provide retirement offerings to employers and individuals, including Mandatory Provident Fund (&#147;MPF&#148;) schemes and administration in Hong Kong. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Retail distributes investment funds through intermediaries in North America, Europe and Asia, and operates a <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">manager-of-manager</FONT></FONT> model, which identifies and sources investment strategies across the world, both proprietary and external. In Canada, we also provide personalized investment management, private banking and
estate solutions to affluent clients. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Institutional Asset Management provides investment management solutions to over 700
institutional clients (such as pension plans, foundations, endowments and financial institutions) globally across major asset classes including equities, fixed income, and alternative assets (including real estate, timberland, farmland, private
equity/debt, infrastructure, and liquid alternatives).&nbsp;In addition, we also offer multi-asset investment management solutions for a broad range of clients&#146; investment needs. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, Global WAM contributed 17% of the Company&#146;s core earnings from operating segments and, as at December&nbsp;31, 2018, accounted for 56% of the Company&#146;s
assets under management and administration. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Profitability </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Global WAM&#146;s 2018 net income attributed to shareholders was $955&nbsp;million compared with $1,078&nbsp;million in 2017, core earnings were $986&nbsp;million in 2018
compared with $816&nbsp;million in 2017. Items excluded from core earnings are outlined in the table below and amounted to a net charge of $31&nbsp;million in 2018 compared with a net gain of $262&nbsp;million in 2017. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The $171&nbsp;million increase in core earnings was driven by higher fee income from higher average asset levels, lower amortization of deferred acquisition costs and
other depreciation and the impact of lower U.S. tax rates. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The table below reconciles net income attributed to shareholders to core earnings for the Global WAM
segment for 2018, 2017 and 2016. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Asia</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>257</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">210</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">171</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canada</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>267</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">253</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">190</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S.</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>462</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">353</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">301</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>986</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">816</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">662</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Items to reconcile core earnings to net income attributed to shareholders:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact related to U.S. Tax Reform</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">308</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(29</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(47</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net Income attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;955</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,078</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;615</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, core EBITDA for Global WAM was $1,498&nbsp;million, higher than core
earnings by $512&nbsp;million. In 2017, core EBITDA was $1,426&nbsp;million, higher than core earnings by $610&nbsp;million. The increase of $72&nbsp;million in core EBITDA was driven by higher fee income from higher average asset levels. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Core
EBITDA</B><B></B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B> </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="74%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>986</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">816</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">662</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Amortization of deferred acquisition costs and other depreciation</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>301</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">344</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">338</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Amortization of deferred sales commissions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>98</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core income tax expense (recovery)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>113</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">167</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core EBITDA</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,498</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,426</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,209</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The 2018 charge of $29 million relates to the integration of businesses acquired from Standard Chartered, as does the 2017
charge of $46&nbsp;million. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>26</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Growth </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Gross Flows and Net Flows </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, gross flows of
$119.0&nbsp;billion were $3.0&nbsp;billion or 2% lower than 2017, driven by a slowdown in U.S. retail gross flows amid equity market declines and lower gross flows in mainland China from retail money market funds. This was partially offset by growth
of $5.4&nbsp;billion in institutional asset management driven by the launch of the John Hancock Infrastructure Fund globally and a real estate separately managed account, and the funding of two large fixed income mandates. WAM net flows of
$1.6&nbsp;billion were $16.7&nbsp;billion lower than in 2017, driven by higher redemptions in U.S retail amid equity market declines and lower gross flows as mentioned above. 2018 marked the 9<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>
consecutive year of positive net flows in our WAM business. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Asia WAM: </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt"><FONT COLOR="#1f320c"><B>Gross flows</B></FONT> in Asia in 2018 were $23.7&nbsp;billion, a decrease of 15% compared with
2017, the decline was primarily driven by lower gross flows in mainland China from retail money market funds partially offset by higher institutional asset management gross flows. Retirement gross flows were in line with the prior year.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt"><FONT COLOR="#1f320c"><B>Net flows</B></FONT> in 2018 were $5.7&nbsp;billion in 2018 compared with net flows of
$6.6&nbsp;billion in 2017, driven by lower gross flows in mainland China from retail money market funds. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Canada WAM:
</B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt"><FONT COLOR="#1f320c"><B>Gross flows</B></FONT> in Canada in 2018 were $23.1&nbsp;billion, an increase of 10% compared with
2017, reflecting growth across all business lines. This was driven by higher new plan deposits and recurring contributions in retirement, strong sales in several balanced and equity products in retail, and the funding of a $0.6&nbsp;billion custom
liability-driven investment mandate and private market product launches in institutional asset management. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt"><FONT COLOR="#1f320c"><B>Net flows </B></FONT>in 2018<B> </B>were $2.0&nbsp;billion compared with net flows of
$3.7&nbsp;billion in 2017, the decline was primarily driven by higher retail redemptions across all asset classes amid equity market declines. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>U.S. WAM: </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt"><FONT COLOR="#1f320c"><B>Gross flows</B></FONT> in the U.S. in 2018 were $72.2&nbsp;billion, in line with 2017, as we
launched the John Hancock Infrastructure Fund, which generated $1.2&nbsp;billion in gross flows, as well as a $1.2&nbsp;billion real estate separately managed account, and funded two large fixed income mandates totaling $1.1&nbsp;billion in
institutional asset management. This was offset by lower retail gross flows amid equity market declines. Retirement gross flows were slightly higher than the prior year. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt"><FONT COLOR="#1f320c"><B>Net flows </B></FONT>in 2018 were negative $6.1&nbsp;billion, compared with positive net flows of
$7.9&nbsp;billion in 2017, the decline was primarily driven by higher retail redemptions amid the declines in equity markets and the redemption of three large-case retirement plans. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Gross Flows and Net Flows </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="68%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross flows</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;119,002</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;121,969</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;118,185</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net flows</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,563</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">18,280</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">16,482</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under Management and Administration </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, AUMA for our wealth and asset management businesses of $609&nbsp;billion, while in line with the prior year, was 6% lower on a constant exchange rate basis. AUMA
increased $1.6&nbsp;billion from positive net flows and $1.3&nbsp;billion from assets acquired. This increase was offset by a net $3&nbsp;billion reduction related to market value movement and the weakening of the Canadian dollar. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under Management and Administration </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ billions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance January&nbsp;1,</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>609</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">554</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">510</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Acquisitions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net flows</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of markets and other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance December&nbsp;31,</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;609</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;609</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;554</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>27</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Revenue </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Total revenue in 2018 of $5.5&nbsp;billion increased 5% compared with 2017, driven by higher average asset levels. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Revenue </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December 31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fee income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,472</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">5,158</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,922</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(8</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;5,464</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;5,200</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;4,928</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Strategic Highlights </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have a clear strategy to pursue attractive, high-growth opportunities through our three business lines: Retirement, Retail and Institutional Asset Management across
each of our regions globally.&nbsp;Our strategy involves becoming a global retirement leader supporting financial wellness; expanding our presence in regional retail mutual fund distribution across the globe, leveraging a <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">manager-of-managers</FONT></FONT> model; and providing active asset management capabilities, including high-performing equity and fixed income strategies, outcome-oriented solutions and
alternative assets. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, we executed on a number of initiatives to accelerate growth in our franchise, including:</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Launching the John Hancock Infrastructure Fund with approximately $2.7&nbsp;billion in capital commitments, which provides
third-party investors the opportunity to invest alongside Manulife&#146;s General Account in direct private equity investments and <FONT STYLE="white-space:nowrap">co-investments</FONT> in the infrastructure sector in the U.S; </P></TD></TR></TABLE>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Raising almost $1&nbsp;billion for the Hancock Natural Resources Group&#146;s first commingled vehicle devoted to both
timberland and farmland; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Entering into an Outsourced Chief Investment Officer (OCIO) relationship with a distribution partner to provide
discretionary asset allocation models, thereby expanding our asset allocation and manager research capabilities; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Capturing nearly 40% of total defined contribution sales in the Canadian retirement market<SUP
STYLE="font-size:85%; vertical-align:top">1</SUP> in the twelve months ended September 30, 2018; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Securing the initial investment to establish our first Qualified Domestic Limited Partnership fund in December 2018 through
our Wholly Foreign-Owned Enterprise license in mainland China; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Successfully completing the first retirement-focused target risk fund launch with Agricultural Bank of China.
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, we made progress on our commitment to becoming a customer-centric organization by: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Strengthening the operating model and leadership team for our global wealth and asset management business to leverage our
global scale and capabilities to deliver value to our clients in each market that we serve; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Launching the innovative goals-based investing program, leveraging industry-leading technology and dynamic liability-driven
investment strategies, an industry first for retail customers in Canada; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Centralizing and modernizing our operations, technology and data platforms through the Global Optimization program,
utilizing state of the art technology to deliver a robust digital experience for our stakeholders; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Continuing to build the next generation of digital advice capabilities in our Retirement business, thereby enhancing the
development of our managed account platform and providing <FONT STYLE="white-space:nowrap">on-going</FONT> advice tools for participants to better prepare for retirement; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Launching My Money Connector in the U.S., an aggregation tool that helps participants manage their finances.
</P></TD></TR></TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Source: According to LIMRA, based on a rolling <FONT STYLE="white-space:nowrap">12-month</FONT> average.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>28</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_7"></A>Corporate and Other </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Corporate and Other is comprised of investment performance on assets backing capital, net of amounts allocated to the operating segments;
financing costs; costs incurred by the corporate office related to shareholder activities (not allocated to the operating segments); our P&amp;C Reinsurance business; as well as our <FONT STYLE="white-space:nowrap">run-off</FONT> reinsurance
operation, including variable annuities and accident and health. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For segment reporting purposes, settlement costs for macro
equity hedges and other <FONT STYLE="white-space:nowrap">non-operating</FONT> items are included in Corporate and Other earnings. This segment is also where we reclassify favourable investment-related experience to core earnings from items excluded
from core earnings, subject to certain limits (see &#147;Performance and <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below). In each of the operating segments, we report all investment-related experience in items excluded from
core earnings. </B></FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Profitability </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Corporate and Other reported a net loss attributed to shareholders of $1,185&nbsp;million in 2018 compared with a net loss attributed to shareholders of $161&nbsp;million
in 2017. The net loss attributed to shareholders was comprised of core loss and items excluded from core loss. The core loss was $311&nbsp;million in 2018 compared with a core loss of $522&nbsp;million in 2017. Items excluded from core loss amounted
to a net charge of $874&nbsp;million in 2018 compared with a net gain of $361&nbsp;million in 2017. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The $211&nbsp;million lower core loss was primarily related to
the <FONT STYLE="white-space:nowrap">non-recurrence</FONT> of charges to establish $240&nbsp;million of claims provisions in our P&amp;C business in 2017. In 2018, we had a net $23&nbsp;million release of P&amp;C provisions (we released a portion of
the 2017 provision partially offset by provisions related to a combination of California wild fires, Pacific typhoons and Atlantic hurricanes). The remaining $52&nbsp;million unfavourable variance was due to the impact of markets, in 2018, on seed
money investments in new segregated and mutual funds, the effect of lower U.S. tax rate on the losses in the segment and higher withholding taxes on future U.S. remittances, partially offset by higher investment-related income and lower expected
macro hedging costs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The items excluded from core earnings are outlined below. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The table below reconciles the net loss attributed to shareholders to the core loss for Corporate and Other for 2018, 2017 and 2016. </P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="68%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core loss excluding core investment gains</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(711</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(922</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(667</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core investment gains</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">400</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">197</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total core loss</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(311</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(522</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(470</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Items to reconcile core loss to net loss attributed to shareholders:</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Direct impact of equity markets and interest
rates<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(411</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(83</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;194</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Changes in actuarial methods and assumptions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Investment-related experience related to
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> items<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>59</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Reclassification to core investment gains above</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(400</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(400</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(197</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Impact related to U.S. Tax Reform</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>135</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;737</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Restructuring charge<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(263</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net loss attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,185</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(161</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(371</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The direct impact of equity markets and interest rates included a gain of $24&nbsp;million (2017 &#150; loss of $61
million) on derivatives associated with our macro equity hedges and a loss of $284&nbsp;million (2017 &#150; loss of $41 million) on the sale of AFS bonds. Other items in this category netted to a loss of $151&nbsp;million (2017 &#150; gain of $19
million). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Investment-related experience includes
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains or losses on assets held in the Corporate and Other segment other than gains on AFS equities and seed money investments in new segregated or mutual
funds. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Please see &#147;Manulife Financial Corporation &#150; Profitability&#148; above for explanation of the restructuring
charge. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Revenue </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Revenue in
2018 was a net loss of $455&nbsp;million and includes a consolidation adjustment of $375&nbsp;million related to asset management fees earned by MAM from affiliated businesses (the offset to this consolidation adjustment is in investment expenses).
Total revenue in 2018 decreased by $383&nbsp;million compared with 2017, primarily driven by higher net realized losses on AFS securities compared with gains in prior year. These decreases were partially offset by gains in the macro hedge program
compared to losses in 2017. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Revenue </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="67%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net premium income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income (loss)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(281</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">285</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">645</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(328</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(247</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Revenue before net realized and unrealized investment gains and losses and on the macro hedge
program</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(511</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">148</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">827</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Net realized and unrealized investment gains and losses<SUP
STYLE="font-size:85%; vertical-align:top">(2) </SUP>and on the macro hedge program</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>56</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(220</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(507</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(455</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(72</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">320</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>29</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes losses of $355&nbsp;million (2017 &#150; losses of $54 million) on the sale of AFS bonds. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Manulife Financial Corporation &#150; Impact of Fair Value Accounting&#148; above. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Strategic Highlights </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our P&amp;C Reinsurance
business provides substantial retrocessional capacity for a very select clientele in the property and casualty reinsurance market. The business is largely <FONT STYLE="white-space:nowrap">non-correlated</FONT> to Manulife&#146;s other businesses and
helps diversify our overall business mix. We manage the risk exposures of this business in relation to the total Company balance sheet risk and volatility as well as the prevailing market pricing conditions. The business is renewable annually, and
we currently estimate our exposure limit in 2019 for a single event to be approximately US$250&nbsp;million (net of reinstatement premiums) and for multiple events to be approximately US$425&nbsp;million (net of all premiums). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>30</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_9"></A>Investments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our investment philosophy for the General Fund is to invest in an asset mix that optimizes our risk adjusted returns and matches the characteristics of our underlying
liabilities. We follow a <FONT STYLE="white-space:nowrap">bottom-up</FONT> approach which combines our strong asset management skills with an <FONT STYLE="white-space:nowrap">in-depth</FONT> understanding of the characteristics of each investment.
We invest in a diversified mix of assets, including a variety of alternative long-duration asset classes. Our diversification strategy has historically produced superior risk adjusted returns while reducing overall risk. We use a disciplined
approach across all asset classes, and we do not chase yield in the riskier end of the fixed income market. Our risk management strategy is outlined in the &#147;Risk Management&#148; section below. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>General Fund Assets </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31,
2018, our General Fund invested assets totaled $353.7&nbsp;billion compared with $334.2&nbsp;billion at the end of 2017. The following table shows the asset class composition as at December&nbsp;31, 2018 and December&nbsp;31, 2017. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="12" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="12"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ billions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Carrying&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">%&nbsp;of&nbsp;total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Carrying&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">%&nbsp;of&nbsp;total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash and short-term securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt Securities and Private Placement Debt</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Government bonds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>70.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>20</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>70.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Corporate bonds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>112.7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>112.7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Securitized / asset-backed securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2.9</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2.9</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Private placement debt</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>35.7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>36.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortgages</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48.4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48.6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44.7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Policy loans and loans to bank clients</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Alternative Long-Duration Assets (&#147;ALDA&#148;)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Real Estate</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13.9</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13.8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Power&nbsp;&amp; Infrastructure</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Timberland and Farmland</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4.5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Private Equity</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Oil&nbsp;&amp; Gas</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3.4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3.5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other ALDA</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Leveraged Leases and Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4.1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4.1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3.8</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">3.8</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total general fund invested assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;353.7</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;356.2</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;334.2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;339.5</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The carrying values for invested assets are generally equal to their fair values, however, mortgages and private placement debt are
carried at amortized cost; loans to bank clients are carried at unpaid principle balances less allowance for credit losses; real estate held for own use is carried at cost less accumulated depreciation and any accumulated impairment losses; private
equity investments, including power and infrastructure and timber, are accounted for as associates using the equity method, or at fair value; and oil and gas investments are carried at cost using the successful efforts method. Certain government and
corporate bonds and public equities are classified as AFS. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Shareholders&#146; accumulated other comprehensive <FONT STYLE="white-space:nowrap">pre-tax</FONT> income
(loss) at December&nbsp;31, 2018 consisted of $272&nbsp;million loss for bonds (2017 &#150; loss of $176 million) and $42&nbsp;million gain for public equities (2017 &#150; gain of $553 million). Included in the $272&nbsp;million loss for bonds was
a $540&nbsp;million loss related to the fair value hedge basis adjustments on AFS bonds (2017 &#150; loss of $563 million). </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Debt
Securities and Private Placement Debt </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We manage our high-quality fixed income portfolio to optimize yield and quality while ensuring that asset portfolios
remain diversified by sector, industry, duration, issuer, and geography. As at December&nbsp;31, 2018, our fixed income portfolio of $221.3&nbsp;billion (2017 &#150; $206.1 billion) was 98% investment grade and 75% was rated A or higher (2017 &#150;
98% and 76%, respectively). Our private placement debt holdings provide diversification benefits (issuer, industry, and geography) and, because they often have stronger protective covenants and collateral than debt securities, they typically provide
better credit protection and potentially higher recoveries in the event of default. Geographically, 27% is invested in Canada (2017 &#150; 28%), 46% is invested in the U.S. (2017 &#150; 47%), 3% is invested in Europe (2017 &#150; 3%) and the
remaining 24% is invested in Asia and other geographic areas (2017 &#150; 22%). </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Debt Securities and Private Placement Debt &#150; by Credit
Quality</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B> </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="16" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">($ billions)</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Debt<BR>securities</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Private<BR>placement<BR>debt</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">%&nbsp;of<BR>Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Debt<BR>securities</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Private<BR>placement<BR>debt</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">%&nbsp;of<BR>Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">AAA</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>36.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37.3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">AA</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>32.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">A</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>78.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13.3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>91.3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>41</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">BBB</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>51.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>23</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">45.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">BB</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2.3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">B&nbsp;&amp; lower, and unrated</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.8</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1.5</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2.3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.7</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1.0</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1.7</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total carrying value ($ billions)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;185.6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;35.7</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;221.3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;174.0</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;32.1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;206.1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>31</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Reflects credit quality ratings as assigned by Nationally Recognized Statistical Rating Organizations (&#147;NRSRO&#148;)
using the following priority sequence order: Standard&nbsp;&amp; Poor&#146;s, Moody&#146;s, Dominion Bond Rating Service, Fitch, Rating and Investment Information, and Japan Credit Rating. For those assets where ratings by NRSRO are not available,
disclosures are based upon internal ratings as described in the &#147;Risk Management&#148; and &#147;Risk Factors&#148; sections below. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Debt Securities and Private Placement Debt &#150; by Sector </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
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<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="12" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="12"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">Per cent of carrying value</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Debt<BR>securities</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Private<BR>placement<BR>debt</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Debt<BR>securities</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Private<BR>placement<BR>debt</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Government and agency</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>38</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>33</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Utilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>44</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Financial</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Industrial</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Consumer <FONT STYLE="white-space:nowrap">(non-cyclical)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Energy &#150; Oil&nbsp;&amp; Gas</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Energy &#150; Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Consumer (cyclical)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Securitized (MBS/ABS)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Telecommunications</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Basic materials</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Technology</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Media and internet and other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total per cent</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total carrying value ($ billions)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;185.6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;35.7</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;221.3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;174.0</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;32.1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;206.1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018, gross unrealized losses on our fixed income holdings were $4.5&nbsp;billion or 2% of the amortized cost of
these holdings (2017 &#150; $1.7&nbsp;billion or 1%). Of this amount, $278&nbsp;million (2017 &#150; $37 million) related to debt securities trading below 80% of amortized cost for more than 6 months. Securitized assets represented $52&nbsp;million
of the gross unrealized losses and none of the amounts trading below 80% of amortized cost for more than 6 months (2017 &#150; $24&nbsp;million and none, respectively). After adjusting for debt securities supporting participating policyholder and
pass-through products and the provisions for credit included in the insurance and investment contract liabilities, the potential impact to shareholders&#146; <FONT STYLE="white-space:nowrap">pre-tax</FONT> earnings for debt securities trading at
less than 80% of amortized cost for greater than 6 months was approximately $62&nbsp;million as at December&nbsp;31, 2018 (2017 &#150; $30 million). </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT
 COLOR="#2a517f"><B>Mortgages </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018, our mortgage portfolio of $48.4&nbsp;billion represented 14% of invested assets (2017 &#150;
$44.7&nbsp;billion and 13%, respectively). Geographically, 63% of the portfolio is invested in Canada (2017 &#150; 63%) and 37% is invested in the U.S. (2017 &#150; 37%). As shown below, the overall portfolio is also diversified by geographic
region, property type, and borrower. Of the total mortgage portfolio, 15% is insured (2017 &#150; 18%), primarily by the Canada Mortgage and Housing Corporation (&#147;CMHC&#148;) &#150; Canada&#146;s AAA rated government-backed national housing
agency, with 35% of residential mortgages insured (2017 &#150; 39%) and 2% of commercial mortgages insured (2017 &#150; 2%). </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


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<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ billions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Carrying value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">% of total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Carrying value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">% of total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Commercial</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Retail</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8.4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">8.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Office</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8.7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Multi-family residential</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5.3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Industrial</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other commercial</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3.0</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2.7</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>28.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>58</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other mortgages</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Manulife Bank single-family residential</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19.6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>41</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Agricultural</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.6</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total mortgages</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;48.4</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;44.7</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our commercial mortgage loans are originated with a
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">hold-for-investment</FONT></FONT> philosophy. They have low <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">loan-to-value</FONT></FONT> ratios, high debt-service
coverage ratios, and as at December&nbsp;31, 2018 there were no loans in arrears. Geographically, of the total commercial mortgage loans, 39% are in Canada and 61% are in the U.S. (2017 &#150; 38% and 62%, respectively). We are diversified by
property type and largely avoid risky market segments such as hotels, construction loans and second liens. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>32</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><FONT STYLE="white-space:nowrap">Non-CMHC</FONT> Insured Commercial Mortgages</B><SUP
STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B> </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">U.S.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">U.S.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Loan-to-Value</FONT></FONT> ratio<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>63%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>57%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Debt-Service Coverage ratio<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.44x</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.85x</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.46x</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.84x</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Average duration (years)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Average loan size ($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$16.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$19.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">14.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Loans in
arrears<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.00%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.00%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">0.00%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">0.00%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Excludes Manulife Bank commercial mortgage loans of $234&nbsp;million (2017 &#150; $109 million). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Loan-to-Value</FONT></FONT> and Debt-Service Coverage
are based on <FONT STYLE="white-space:nowrap">re-underwritten</FONT> cash flows. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Arrears defined as over 90 days past due in Canada and over 60 days past due in the U.S. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Public Equities </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018,
public equity holdings of $19.2&nbsp;billion represented 5% (2017 &#150; $21.5&nbsp;billion and 6%) of invested assets and, when excluding assets supporting participating policyholder and pass-through products, represented 1% (2017 &#150; 2%) of
invested assets. The portfolio is diversified by industry sector and issuer. Geographically, 28% (2017 &#150; 31%) is held in Canada; 36% (2017 &#150; 36%) is held in the U.S.; and the remaining 36% (2017 &#150; 33%) is held in Asia, Europe and
other geographic areas. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Public Equities &#150; classified by type of product-line supported </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ billions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Carrying&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">% of total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Carrying&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">% of total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Participating Policyholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9.3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">10.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Pass-through products</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4.7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>25</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Corporate and Other segment<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-participating</FONT>
products</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1.1</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1.3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total public equities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;19.2</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;21.5</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes $2.5&nbsp;billion of AFS equities and $1.6&nbsp;billion of seed money investments in new segregated and mutual
funds. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Alternative Long-Duration Assets (&#147;ALDA&#148;) </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our ALDA portfolio is comprised of a diverse range of asset classes with varying degrees of correlations. The portfolio typically consists of private assets representing
investments in varied sectors of the economy which act as a natural hedge against future inflation and serve as an alternative source of asset supply to long-term corporate bonds. In addition to being a suitable match for our long-duration
liabilities, these assets provide enhanced long-term yields and diversification relative to traditional fixed income markets. The vast majority of our ALDA are managed <FONT STYLE="white-space:nowrap">in-house.</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018, ALDA of $36.2&nbsp;billion represented 10% (2017 &#150; $34.5&nbsp;billion and 10%) of invested assets. The fair value of total ALDA was
$38.2&nbsp;billion at December 31, 2018 (2017 &#150; $36.0 billion). The carrying value and corresponding fair value by sector and/or asset type are outlined above (see table in the section &#147;General Fund Assets&#148;). </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Real Estate </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our real estate portfolio is
diversified by geographic region; of the total fair value of this portfolio, 43% is located in the U.S., 42% in Canada, and 15% in Asia as at December&nbsp;31, 2018 (2017 &#150; 51%, 38%, and 11%, respectively). This high-quality portfolio has
virtually no leverage and is primarily invested in premium urban office towers, concentrated in cities with stable growth, and highly diverse economies, in North America and Asia. The portfolio is well positioned with an average occupancy rate of
94% (2017 &#150; 94%) and an average lease term of 5.8 years (2017 &#150; 5.9 years). During 2018, we executed 1 acquisition representing $0.3&nbsp;billion market value of commercial real estate assets (2017 &#150; 3 acquisitions and $0.9 billion).
As part of the portfolio optimization initiatives, $3.0&nbsp;billion of commercial real estate assets were sold during 2018. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The composition of our real estate
portfolio based on fair value is as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ billions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">% of total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Fair&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">% of total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Company <FONT STYLE="white-space:nowrap">Own-Use</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>23</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Office &#150; Downtown</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>37</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Office &#150; Suburban</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Industrial</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.8</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Residential</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Retail</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.9</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.8</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total real estate</B><SUP
STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;13.9</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;15.0</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>33</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">These figures represent the fair value of the real estate portfolio. The carrying value of the portfolio was $12.8 billion
and $13.8&nbsp;billion at December&nbsp;31, 2018 and December&nbsp;31, 2017, respectively. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Power&nbsp;&amp;
Infrastructure </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We invest both directly and through funds in a variety of industry specific asset classes, listed below. The portfolio is well diversified
with over 300 portfolio companies. The portfolio is predominately invested in the U.S. and Canada, but also in the United Kingdom, Europe and Australia. Our power and infrastructure holdings are as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ billions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Carrying&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">% of total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Carrying&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">% of total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Power generation</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3.7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>47</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3.8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Transportation (including roads, ports)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.6</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>20</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Electric and gas regulated utilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Electricity transmission</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Water distribution</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Midstream gas infrastructure</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Maintenance service, efficiency and social infrastructure</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Telecommunication/Tower</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.4</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other Infrastructure</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total power&nbsp;&amp; infrastructure</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;8.0</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;7.3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Timberland&nbsp;&amp; Farmland </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our timberland and farmland assets are managed by a proprietary entity, Hancock Natural Resources Group (&#147;HNRG&#148;). In addition to being the world&#146;s largest
timberland investment manager for institutional investors<SUP STYLE="font-size:85%; vertical-align:top">1</SUP>, with timberland properties in the U.S., New Zealand, Australia, Chile, Canada and Brazil, HNRG also manages farmland properties in the
U.S., Australia and Canada. The General Fund&#146;s timberland portfolio comprised 26% of HNRG&#146;s total timberland assets under management (&#147;AUM&#148;) (2017 &#150; 23%). The farmland portfolio includes annual (row) crops, fruit crops, wine
grapes, and nut crops. The General Fund&#146;s holdings comprised 39% of HNRG&#146;s total farmland AUM (2017 &#150; 43%). </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Private Equities
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our private equity portfolio of $6.8&nbsp;billion (2017 &#150; $4.9 billion) includes both directly held private equity and private equity funds. Both are
diversified across vintage years and industry sectors. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Oil&nbsp;&amp; Gas </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">This category is comprised of $1.1&nbsp;billion (2017 &#150; $1.2 billion) in our conventional Canadian oil and gas properties managed by our subsidiary, NAL Resources,
and various other oil and gas private equity interests of $2.3&nbsp;billion (2017 &#150; $1.6 billion). Production mix for conventional oil and gas assets in 2018 was approximately 36% crude oil, 45% natural gas, and 19% natural gas liquids (2017
&#150; 35%, 47%, and 18%, respectively). Private equity interests are a combination of both producing and <FONT STYLE="white-space:nowrap">mid-streaming</FONT> assets. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, the carrying value of our oil and gas holdings increased $0.6&nbsp;billion and the fair value increased by $0.7&nbsp;billion, primarily driven by acquisitions.
</P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Investment Income </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="89%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions, unless otherwise stated)<B> </B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Interest income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;11,081</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;10,577</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Dividend, rental and other income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,829</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,810</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impairments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(164</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(70</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other, including gains and losses on sale of AFS debt
securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(186</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">332</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income before realized and unrealized gains on assets
supporting insurance and investment contract liabilities and on macro equity hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,560</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">13,649</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Realized and unrealized gains and losses on assets supporting insurance and investment contract liabilities
and on macro equity hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Debt securities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(5,994</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,686</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Public equities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,444</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,235</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Mortgages and private placements</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(28</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Alternative long-duration assets and other investments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>662</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">791</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Derivatives, including macro equity hedging program</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(2,224</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,103</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(9,028</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">5,718</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total investment income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,532</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">19,367</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, the $4.5&nbsp;billion of investment income (2017 &#150; $19.4 billion) consisted of: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">$13.6&nbsp;billion of investment income before net realized and unrealized gains on assets supporting insurance and
investment contract liabilities and on macro equity hedges (2017 &#150; $13.7 billion); and </P></TD></TR></TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Based on the global timber investment management organization ranking in the <I>RISI International Timberland Ownership
and Investment Database.</I> </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>34</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">$9.0&nbsp;billion of net realized and unrealized losses on assets supporting insurance and investment contract liabilities
and on macro equity hedges (2017 &#150; gains of $5.7 billion). </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The $0.1&nbsp;billion decrease in net investment income before unrealized and
realized gains was due to $0.1&nbsp;billion higher impairments on oil&nbsp;&amp; gas properties and losses of $0.2&nbsp;billion on surplus assets mainly from losses on debt securities (compared with $0.3&nbsp;billion gains in 2017), partially offset
by $0.5&nbsp;billion higher interest income primarily from increased income on debt securities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Net realized and unrealized gains on assets supporting insurance and
investment contract liabilities and on the macro hedge program was a loss of $9.0&nbsp;billion for full year 2018 compared with a gain of $5.7&nbsp;billion for full year 2017.&nbsp;The full year 2018 loss largely resulted from interest rate
increases in both North America and Asia.&nbsp;The <FONT STYLE="white-space:nowrap">10-yr</FONT> government bonds for the U.S. and Hong Kong increased 28 bps and 20 bps, respectively. Additional losses were driven by declining equity markets as all
major indices were down during the year. The S&amp;P/TSX declined 11.6% and the S&amp;P 500 declined 6.2%. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As the measurement of insurance and investment contract
liabilities includes estimates regarding future expected investment income on assets supporting insurance and investment contract liabilities, only the difference between the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> accounting on the measurement of both assets and liabilities impacts net income. Refer to &#147;Financial Performance&#148; above. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>35</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_10"></A>Risk Management </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">This section provides an overview of the Company&#146;s overall risk management approach and more specific strategies for our principal risks. A more detailed
description of specific risks which may affect our results of operations or financial condition may be found in the &#147;Risk Factors&#148; section below. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT
 COLOR="#2a517f"><B>Enterprise Risk Management Framework </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Delivering on our mission &#147;Decisions made easier. Lives made better&#148;, our ambition is
to transform into the most digital, customer-centric global company in our industry, while delighting our customers, engaging our employees, and delivering superior returns for our shareholders. The activities required to achieve these results
involve elements of risk taking. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our approach to risk management is governed by our Enterprise Risk Management (&#147;ERM&#148;) Framework. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g661383g50p39.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our ERM Framework provides a structured approach to implementing risk taking and risk management activities across the enterprise,
supporting our long-term revenue, earnings and capital growth strategy. It is communicated through risk policies and standards which are intended to enable consistent design and execution of strategies across the organization. We have a common
approach to managing all risks to which the Company is exposed, and to evaluating potential directly comparable risk-adjusted returns on contemplated business activities. Our risk policies and standards cover: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Assignment of accountability and delegation of authority for risk oversight and risk management; </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The types and levels of risk the Company seeks given its strategic plan and risk appetite; </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Risk identification, measurement, assessment and mitigation which enable effective management and monitoring of risk; and
</P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Validation, back testing and independent oversight to confirm that the Company generated the risk profile it intended and
the root cause analysis of any notable variation. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our risk management practices are influenced and impacted by external and internal factors (such
as economic conditions, political environments, technology and risk culture), which can significantly impact the levels and types of risks the Company might face in its pursuit of strategically optimized risk taking and risk management. Our ERM
Framework incorporates relevant impacts and mitigating actions as appropriate. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Three Lines of Defense Model </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A strong risk culture and a common approach to risk management are integral to Manulife&#146;s risk management practices. Management is responsible for managing risk
within risk appetite and has established risk management strategies and monitoring practices. Our approach to risk management includes a &#147;three lines of defense&#148; governance model that segregates duties among risk taking activities, risk
monitoring and risk oversight, and establishes appropriate accountability for those who assume risk versus those who oversee risk. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s first line of
defense includes the Chief Executive Officer (&#147;CEO&#148;), Segment General Managers and Global Function Heads. In our matrix reporting model, the Segment General Managers are ultimately accountable for their business results, the risks they
assume to achieve those results, and for the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">day-to-day</FONT></FONT> management of the risks and related controls, and the Global Function Heads are accountable for the management of
the risks and related controls for their function. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The second line of defense is comprised of the Company&#146;s Chief Risk Officer (&#147;CRO&#148;), the Global
Risk Management (&#147;GRM&#148;) function, other global oversight functions and Segment CRO&#146;s and oversight functions. Collectively, this group provides independent oversight of risk taking and risk management activities across the enterprise.
Risk oversight committees, through broad-based membership, also provide oversight of risk taking and risk management activities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The third line of defense is Audit
Services, which provides independent, objective assurance that controls are effective and appropriate relative to the risk inherent in the business and that risk mitigation programs and risk oversight functions are effective in managing risks. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>36</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Risk Culture </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">To enable the achievement of our goals and strategies, the Company requires a high-performing culture centered around six values: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Obsess about Customers &#150; Predict their needs and do everything in your power to satisfy them. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Do the Right Thing &#150; Act with integrity and do what you say. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Think Big &#150; Anything is possible. We can always find a better way. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Get it Done Together &#150; We&#146;re surrounded by an amazing team. Do it better by working together.
</P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Own it &#150; Feel empowered to make decisions and take action to deliver our mission. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Share your Humanity &#150; Build a supportive, diverse and thriving workplace. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Within this context, the Company strives for a risk aware culture, where individuals and groups are encouraged, feel comfortable and are proactive in making transparent,
balanced risk-return decisions that are in the long-term interests of the Company. Management establishes practices that encourage and foster a risk aware culture that addresses the following: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Aligning personal objectives with the Company&#146;s objectives; </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Identifying and escalating risks before they become issues; </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Adopting a cooperative approach that enables appropriate risk taking; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Ensuring transparency in identifying, communicating and tracking risks; and </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Systematically acknowledging and surfacing material risks. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Risk Governance </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Board of Directors
oversees the Company&#146;s culture of integrity and ethics, strategic planning, risk management, and corporate governance, among other things. The Board of Directors carries out its responsibilities directly and through its four standing
committees. The Board Risk Committee oversees the management of our principal risks, and our programs, policies and procedures to manage those risks. The Board Audit Committee oversees internal control over financial reporting and our finance,
actuarial, internal audit and global compliance functions, serves as the conduct review committee, reviews our compliance with legal and regulatory requirements and oversees the performance, qualifications and independence of our external auditors.
The Management Resources and Compensation Committee oversees our global human resources strategy, policies, programs, management succession, executive compensation, and pension plan governance. The Corporate Governance and Nominating Committee
develops our governance policies, practices and procedures, among other things. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The CEO is directly accountable to the Board of Directors for the results and
operations of the Company and all risk taking activities and risk management practices required to achieve those results. The CEO is supported by the CRO as well as by the Executive Risk Committee (&#147;ERC&#148;). Together, they shape and promote
our risk culture, guide risk taking throughout our global operations and strategically manage our overall risk profile. The ERC, along with other executive-level risk oversight committees, establishes risk policies, guides risk taking activity,
monitors significant risk exposures and sponsors strategic risk management priorities throughout the organization. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">GRM, under the direction of the CRO, establishes
and maintains our ERM Framework and oversees the execution of individual risk management programs across the enterprise. GRM seeks to ensure a consistent enterprise-wide assessment of risk, risk-based capital and risk-adjusted returns across all
operations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The ERC approves and oversees the execution of the Company&#146;s enterprise risk management program. It establishes and presents for approval to the
Board of Directors the Company&#146;s risk appetite and enterprise-wide risk limits and monitors our overall risk profile, including key and emerging risks and risk management activities. As part of these activities, the ERC monitors material risk
exposures, endorses and reviews strategic risk management priorities, and reviews and assesses the impact of business strategies, opportunities and initiatives on our overall risk position. The ERC is supported by a number of oversight <FONT
STYLE="white-space:nowrap">sub-committees</FONT> including: Credit Committee, Product Oversight Committee, Global Asset Liability Committee, and the Operational Risk Committee. We also have segment risk committees, each with mandates similar to the
ERC except with a focus at the segment as applicable. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Risk Appetite </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s strategic direction drives overall risk appetite. All risk taking activities are managed within the Company&#146;s overall risk appetite, which defines
the amount and types of risks the Company is willing to assume in pursuit of its objectives. It is comprised of three components: overall risk taking philosophy, risk appetite statements, and risk limits and tolerances. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">When making decisions about risk taking and risk management, the Company places a priority on the following risk management objectives: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Safeguarding the commitments and expectations established with our customers, creditors, shareholders and employees;
</P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Supporting the successful design and delivery of customer solutions; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Prudently and effectively deploying the capital invested in the Company by shareholders with appropriate risk/return
profiles; and </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Protecting and/or enhancing the Company&#146;s reputation and brand. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Risk management provides a framework for monitoring and mitigating exposures so that they are maintained within the risk appetite approved by the Board. This allows us to
deploy our capital towards appropriate risk/return profiles. As an integrated component of our business model, risk management is vital in achieving our objectives and encourages organizational learning. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>37</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">At least annually, we establish and/or reaffirm that our risk appetite and the Company&#146;s strategy are aligned. The
risk appetite statements provide &#145;guideposts&#146; on our appetite for identified risks, any conditions placed on associated risk taking and direction for where quantitative risk limits should be established. The Company&#146;s risk appetite
statements are as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Manulife accepts a total level of risk that provides a very high level of confidence to meeting customer obligations while
targeting an appropriate overall return to shareholders over time; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company targets a credit rating amongst the strongest of its global peers; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Manulife values innovation and encourages initiatives intended to advance the Company&#146;s ambition to be a digital,
customer-centric market leader; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Capital market risks are acceptable when they are managed within specific risk limits and tolerances; </P></TD></TR></TABLE>

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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company believes a diversified investment portfolio reduces overall risk and enhances returns; therefore, it accepts
credit and alternative long-duration asset related risks; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company pursues product risks that add customer and shareholder value where there is competence to assess and monitor
them, and for which appropriate compensation is received; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Manulife accepts that operational risks are an inherent part of the business when managed within thresholds and tolerances
of key risk indicators and will protect its business and customers&#146; assets through cost-effective operational risk mitigation; and </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Manulife expects its officers and employees to act in accordance with the Company&#146;s values, ethics and standards; and
to enhance its brand and reputation. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Risk limits and tolerances are established for risks within our risk classification framework that are
inherent in our strategies in order to define the types and amount of risk the Company will assume. Risk tolerance levels are set for risks deemed to be most significant to the Company and are established in relation to economic capital, <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">earnings-at-risk</FONT></FONT> and regulatory capital required. The purpose of risk limits is to cascade the total Company risk appetite to a level that can be effectively managed. Manulife
establishes stand-alone risk limits for risk categories to avoid excessive concentration in any individual risk category and to manage the overall risk profile of the organization. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Risk Identification, Measurement and Assessment </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have a common approach and process to identify, measure, and assess the risks we assume. We evaluate all potential new business initiatives, acquisitions, product
offerings, reinsurance arrangements, and investment and financing transactions on a comparable risk-adjusted basis. Segments and functional groups are responsible for identifying and assessing key and emerging risks on an ongoing basis. A standard
inventory of risks is used in all aspects of risk identification, measurement and assessment, and monitoring and reporting. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Risk exposures are evaluated using a
variety of measures focused on both short-term net income attributed to shareholders and long-term economic value, with certain measures used across all risk categories, while others are applied only to some risks or a single risk type. Measures
include stress tests such as sensitivity tests, scenario impact analyses and stochastic scenario modeling. In addition, qualitative risk assessments are performed, including for those risk types that cannot be reliably quantified. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We perform a variety of stress tests on earnings, regulatory capital ratios, economic capital,
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">earnings-at-risk</FONT></FONT> and liquidity that consider significant, but plausible, events. We also perform other integrated, complex scenario tests to assess key risks and the
interaction of these risks. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Economic capital and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">earnings-at-risk</FONT></FONT> provide measures of
enterprise-wide risk that can be aggregated and compared across business activities and risk types. Economic capital measures the amount of capital required to meet obligations with a high and <FONT STYLE="white-space:nowrap">pre-defined</FONT>
confidence level. Our <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">earnings-at-risk</FONT></FONT> metric measures the potential variance from quarterly expected earnings at a particular confidence level. Economic capital and <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">earnings-at-risk</FONT></FONT> are both determined using internal models. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Risk Monitoring and Reporting </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Under the
direction of the CRO, GRM oversees a formal process for monitoring and reporting on all significant risks at the Company-wide level. Risk exposures are also discussed at various risk oversight committees, along with any exceptions or proposed
remedial actions, as required. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">On at least a quarterly basis, the ERC and the Board Risk Committee reviews risk reports that present an overview of our overall risk
profile and exposures across our principal risks. The reports incorporate both quantitative risk exposure measures and sensitivities, and qualitative assessments. The reports also highlight key risk management activities and facilitate monitoring
compliance with key risk policy limits. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our Chief Actuary presents the results of the Dynamic Capital Adequacy Test to the Board of Directors annually. Our Chief
Auditor reports the results of internal audits of risk controls and risk management programs to the Audit Committee semi-annually. Management reviews the implementation of key risk management strategies, and their effectiveness, with the Board Risk
Committee annually. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Risk Control and Mitigation </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Risk control activities are in place throughout the Company to seek to mitigate risks within established risk limits. We believe our controls, which include policies,
procedures, systems and processes, are appropriate and commensurate with the key risks faced at all levels across the Company. Such controls are an integral part of
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">day-to-day</FONT></FONT> activity, business management and decision making. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>38</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">GRM establishes and oversees formal review and approval processes for product offerings, insurance underwriting,
reinsurance, investment activities and other material business activities, based on the nature, size and complexity of the risk taking activity involved. Authorities for assuming risk at the transaction level are delegated to specific individuals
based on their skill, knowledge and experience. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Emerging Risks </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The identification and assessment of our external environment for emerging risks is an important aspect of our ERM Framework, as these risks, although yet to materialize,
could have the potential to have a material impact on our operations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our Emerging Risk Framework facilitates the ongoing identification, assessment and monitoring
of emerging risks, and includes: maintaining a process that facilitates the ongoing discussion and evaluation of potential emerging risks with senior business and functional management; reviewing and validating emerging risks with the ERC; creating
and executing on responses to each emerging risk based on prioritization; and monitoring and reporting on emerging risks on a regular basis. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Regulatory Capital </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1,
2018, we implemented OSFI&#146;s new capital regime (&#147;LICAT&#148;) which, consistent with the previous Minimum Continuing Capital and Surplus Requirements, applies to our business world-wide on a group consolidated basis. We continue to meet
OSFI&#146;s capital requirements and maintain capital in excess of regulatory capital levels. Changes in LICAT rules for 2019 are anticipated to have immaterial impacts. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The International Association of Insurance Supervisors (&#147;IAIS&#148;) is expected to finalize the risk-based global Insurance Capital Standard (&#147;ICS&#148;)
during 2019. ICS will apply to all large internationally active insurance groups, and the IAIS&#146;s intention is to require annual reporting to OSFI on a confidential basis for five years, starting in 2020, before the standard becomes effective in
2025. The IAIS has also been developing a holistic framework to assess and mitigate insurance sector systemic risk, which includes reviewing the activities of insurers.&nbsp;It is not yet known how these proposals will affect capital requirements
and Manulife&#146;s competitive position given that several key items for these developments remain under discussion. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Regulators in various jurisdictions in which we
operate have embarked on reforming their respective capital regulations. We have been actively involved in the industry discussions pertaining to those changes whose impact remains uncertain. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Subsidiary Remittability Risk </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We upstream capital
to Manulife&#146;s parent company, MFC, to service shareholder dividends, debt interest and corporate expenses while ensuring we meet local requirements in the jurisdictions in which we operate. Current and future regulatory rules in these
jurisdictions may impact remittances (either favourably or unfavourably) depending on the final form of the regulations. Macro-economic conditions also impact remittances and our overall capital position as capital may respond differently to market
conditions on a consolidated group basis (i.e. LICAT) relative to local requirements. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to the Ultimate Reinvestment Rate
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Canadian Actuarial Standards Board is expected to issue new assumptions with reductions to the Ultimate Reinvestment Rate (&#147;URR&#148;) and
updates to the calibration criteria for stochastic risk-free rates, in 2019. If issued, the new assumptions will be used in the valuation of our actuarial liabilities and therefore impact net income attributed to shareholders. At December&nbsp;31,
2018, the current long-term URR for risk-free rates in Canada is prescribed at 3.2% (we currently use the same assumption for the U.S.). A 10 basis point reduction in the URR in all geographies, and a corresponding change to stochastic risk-free
rate modeling, would reduce net income attributed to shareholders by $350 million <FONT STYLE="white-space:nowrap">(post-tax).</FONT><SUP STYLE="font-size:85%; vertical-align:top">1</SUP> </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>IFRS 17 </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 17 was issued by the International
Accounting Standards Board (&#147;IASB&#148;) in May 2017. At its November 2018 meeting, the IASB tentatively decided to defer the effective date by one year to January&nbsp;1, 2022. The proposed deferral is subject to IASB public consultation in
2019 which is expected to result in an exposure draft followed by a public comment period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The standard will replace IFRS 4 &#147;Insurance Contracts&#148; and will
materially change the recognition and measurement of insurance contracts and the corresponding presentation and disclosures of the Company&#146;s Financial Statements and MD&amp;A. A summary of some of the key changes are outlined in the
&#147;Critical Actuarial and Accounting Policies &#150; Future Accounting and Reporting Changes&#148; section below. In addition, in certain jurisdictions, including Canada, the changes could have a material effect on tax and regulatory capital
positions and other financial metrics that are dependent upon IFRS accounting values. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Liquidity Adequacy Requirements Guideline for Banks
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">OSFI has issued proposed changes to the Liquidity Adequacy Requirements (LAR) guideline applicable to Canadian Banks, with a target implementation date of
January 1, 2020, and is currently in public consultation phase. The changes pertain to run-off assumptions built into regulatory liquidity metrics, particularly those relating to the stability of funding sources. The proposed changes could result in
Manulife Bank being required to hold additional liquidity and the full impacts are yet to be determined subject to finalization and implementation of the revisions. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Caution regarding forward-looking statements&#148; above. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>39</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>General Macro-Economic Risk Factors </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The global macro-economic environment has a significant impact on our financial plans and ability to implement our business strategy. The macro-economic environment can
be significantly impacted by the actions of both the government sector (including central banks) and the private sector. The macro-economic environment may also be affected by natural and <FONT STYLE="white-space:nowrap">man-made</FONT>
catastrophes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our business strategy and associated financial plans are developed by considering forecasts of economic growth, both globally and in the specific
countries we operate. Actual economic growth can be significantly impacted by the macro-economic environment and can deviate significantly from forecast, thus impacting our financial results and the ability to implement our business strategy. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Changes in the macro-economic environment can also have a significant impact on financial markets, including movements in interest rates, spreads on fixed income assets
and returns on public equity and ALDA assets. Our financial plan, including income projections, capital projections, and valuation of liabilities are based on certain assumptions with respect to future movements in interest rates and spreads on
fixed income assets, and expected future returns from our public equity and ALDA investments. Actual experience is highly variable and can deviate significantly from our assumptions, thus impacting our financial results. In addition, actual
experience that is significantly different from our assumptions and/or changes in the macro-economic environment may result in changes to the assumptions themselves which would also impact our financial results. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Specific changes in the macro-economic environment can have very different impacts across different parts of the business. For example, a rise in interest rates is
generally beneficial to us in the long term but can adversely affect valuations of some ALDA assets, especially those that have returns dependent on contractual cash flows, such as real estate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The spending and savings patterns of our customers could be significantly influenced by the macro-economic environment and could have an impact on the products and
services we offer to our customers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Customer behaviour and emergence of claims on our liabilities can be significantly impacted by the macro-economic environment.
For example, a prolonged period of economic weakness could impact the health and well-being of our customers and that could result in increased claims for certain insurance risks. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following sections describe the risk management strategies for each of our five principal risk categories: strategic risk, market risk, credit risk, product risk and
operational risk. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Strategic Risk </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Strategic risk is the risk of loss resulting from the inability to adequately plan or implement an appropriate business strategy, or to adapt to change in the external business, political or regulatory environment.
</B></FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Risk Management Strategy </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The CEO
and Executive Leadership Team establish and oversee execution of business strategies and have accountability to identify and manage the risks embedded in these strategies. They are supported by a number of processes: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Strategic business, risk and capital planning that is reviewed with the Board of Directors, Executive Leadership Team, and
the ERC; </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Performance and risk reviews of all key businesses with the CEO and annual reviews with the Board of Directors;
</P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Risk-based capital attribution and allocation designed to encourage a consistent decision-making framework across the
organization; and </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Review and approval of significant acquisitions and divestitures by the CEO and, where appropriate, the Board of Directors.
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The CEO and Executive Leadership Team are ultimately responsible for our reputation; however, our employees and representatives are responsible for
conducting their business activities in a manner that upholds our reputation. This responsibility is executed through an enterprise-wide reputation risk policy that specifies the oversight responsibilities of the Board of Directors and the
responsibilities of executive management, communication to and education of all directors, officers, employees and representatives, including our Code of Business Conduct and Ethics, and application of guiding principles in conducting all our
business activities. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Environmental, Social and Governance Risks </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Environmental, social and governance (&#147;ESG&#148;) risks may impact our investments, underwriting, or operations, and may create a risk of loss of financial,
operational, legal, or brand value to Manulife. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2018, we established the Manulife Executive Sustainability Council (&#147;the Council&#148;) to anticipate, manage
and oversee relevant environmental and social risks. The Council is comprised of a <FONT STYLE="white-space:nowrap">sub-group</FONT> of Manulife&#146;s Executive Leadership Team and has a mandate to integrate environmental and social sustainability
into culture, strategy, and decision-making. The Board&#146;s Corporate Governance and Nominating Committee oversees the integration of sustainability into the core business and performance on ESG metrics. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our enterprise-level approach to ESG risk management is captured in the Environmental Risk Policy that reflects the Company&#146;s commitment to conducting all business
activities in a manner that recognizes the need to preserve the natural environment. Business and functional units are responsible for procedures, protocols and due diligence standards to identify, monitor and manage ESG risks. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We report on ESG performance in our annual sustainability reports and other sources such as the Carbon Disclosure Project. Manulife also supports the Financial Stability
Board&#146;s Taskforce on Climate-Related Financial Disclosures (&#147;TCFD&#148;), and Manulife Asset </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>40</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">
Management participates in the TCFD implementation pilot convened by the United Nation&#146;s Finance Program&#146;s Environmental Initiative. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Market Risk </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Market
risk is the risk of loss resulting from market price volatility, interest rate change, credit and swap spread changes, and adverse foreign currency rate movements. Market price volatility primarily relates to changes in prices of publicly traded
equities and alternative long-duration assets. Liquidity risk, which we manage as a form of market risk, is the risk of not having access to sufficient funds or liquid assets to meet both expected and unexpected cash outflows and collateral demands.
</B></FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>IFRS 7 Disclosures </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The shaded
text and tables in this section and the following section (&#147;Market Risk Sensitivities and Market Risk Exposure Measures&#148;) of this MD&amp;A represent our disclosure on market and liquidity risk in accordance with IFRS 7, &#147;Financial
Instruments &#150; Disclosures,&#148; and include a discussion on how we measure risk and our objectives, policies and methodologies for managing these risks. Therefore, the following shaded text and tables represent an integral part of our audited
annual Consolidated Financial Statements for the years ended December&nbsp;31, 2018 and December&nbsp;31, 2017. The fact that certain text and tables are considered an integral part of the Consolidated Financial Statements does not imply that the
disclosures are of any greater importance than the sections not part of the disclosure. Accordingly, the &#147;Risk Management&#148; disclosure should be read in its entirety. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Market Risk Management Strategy </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">Market risk management strategy is governed by the Global Asset Liability Committee which oversees the overall market and liquidity risk program. Our
overall strategy to manage our market risks incorporates several component strategies, each targeted to manage one or more of the market risks arising from our businesses. At an enterprise level, these strategies are designed to manage our aggregate
exposures to market risks against limits associated with earnings and capital volatility. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table outlines our key market risks and
identifies the risk management strategies which contribute to managing these risks. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT STYLE="font-size:9pt" COLOR="#1f320c"><B>Risk Management Strategy</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Key Market Risk</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Publicly<BR>Traded&nbsp;Equity<BR>Performance<BR>Risk</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Interest&nbsp;Rate<BR>and Spread<BR>Risk</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Alternative<BR><FONT STYLE="white-space:nowrap">Long-Duration</FONT><BR>Asset<BR>Performance<BR>Risk</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Foreign<BR>Exchange&nbsp;Risk</B></TD>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>Liquidity&nbsp;Risk</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Product design and pricing</P></TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Variable annuity guarantee dynamic hedging</P></TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Macro equity risk hedging</P></TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Asset liability management</P></TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Foreign exchange management</P></TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Liquidity risk management</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
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</TABLE> </div> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Publicly Traded Equity Performance Risk: To reduce publicly traded equity performance risk, we primarily use a variable annuity
guarantee dynamic hedging strategy which is complemented by a general macro equity risk hedging strategy. Our strategies employed for variable annuity guarantee dynamic hedging and macro equity risk hedging expose the Company to additional risks.
See &#147;Risk Factors&#148; below. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Interest Rate and Spread Risk: In general, to seek to reduce interest rate risk, we manage the duration of our fixed income
investments in our liability and Corporate and Other segments by executing interest rate hedges. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">ALDA Performance Risk: We seek to limit concentration risk
associated with ALDA performance by investing in a diversified basket of assets including commercial real estate, timber, farmland, private equities, infrastructure, and oil and gas assets. We further diversify risk by managing investments against
established investment and risk limits. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Foreign Exchange Risk: Our policy is to generally match the currency of our assets with the currency of the liabilities they
support. Where assets and liabilities are not currency matched, we seek to hedge this exposure where appropriate to stabilize our capital positions and remain within our enterprise foreign exchange risk limits through the use of financial
instruments such as derivatives. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Liquidity Risk: Our liquidity risk management framework is designed to provide adequate liquidity to cover cash and collateral
obligations as they come due, and to sustain and grow operations in both normal and stressed conditions. We seek to mitigate liquidity risk by diversifying our business across different products, markets, geographical regions and policyholders. We
design insurance products to encourage policyholders to maintain their policies <FONT STYLE="white-space:nowrap">in-force,</FONT> to help generate a diversified and stable flow of recurring premium income. We design the policyholder termination
features of our wealth management products and related investment strategies with the goal of mitigating the financial exposure and liquidity risk related to unexpected policyholder terminations. We establish and implement investment strategies
intended to match the term profile of the assets to the liabilities they support, taking into account the potential for unexpected policyholder terminations and resulting liquidity needs. We have in place contingent liquidity plans that further
mitigate this risk. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>41</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Product Design and Pricing Strategy </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">Our policies, standards, and standards of practice with respect to product design and pricing are designed with the objective of aligning our product
offerings with our risk taking philosophy and risk appetite, and in particular, that incremental risk generated from new sales aligns with our strategic risk objectives and risk limits. The specific design features of our product offerings,
including level of benefit guarantees, policyholder options, fund offerings and availability restrictions as well as our associated investment strategies, help to mitigate the level of underlying risk. We regularly review and modify key features
within our product offerings, including premiums and fee charges with a goal of meeting profit targets and staying within risk limits. Certain of our general fund adjustable benefit products have minimum rate guarantees. The rate guarantees for any
particular policy are set at the time the policy is issued and governed by insurance regulation in each jurisdiction where the products are sold. The contractual provisions allow crediting rates to be <FONT STYLE="white-space:nowrap">re-set</FONT>
at <FONT STYLE="white-space:nowrap">pre-established</FONT> intervals subject to the established minimum crediting rate guarantees. The Company may partially mitigate the interest rate exposure by setting new rates on new business and by adjusting
rates on <FONT STYLE="white-space:nowrap">in-force</FONT> business where permitted. In addition, the Company partially mitigates this interest rate risk through its asset liability management process, product design elements, and crediting rate
strategies. New product initiatives, new reinsurance arrangements and material insurance underwriting initiatives must be reviewed and approved by the CRO or key individuals within risk management functions. </P></div>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Hedging Strategies for Variable Annuity and Other Equity Risks </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s exposure to movement in public equity market values primarily arises from variable annuity guarantees and to a smaller extent from
asset-based fees and general fund public equity holdings. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Dynamic hedging is the primary hedging strategy for variable annuity market risks. Dynamic hedging is
employed for new variable annuity guarantees business when written or as soon as practical thereafter. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">We seek to manage public equity risk
arising from other sources (not dynamically hedged) through our macro equity risk hedging strategy. We seek to manage interest rate risk arising from variable annuity business not dynamically hedged within our asset liability management strategy.
</P></div> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Variable Annuity Dynamic Hedging Strategy </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">The variable annuity dynamic hedging strategy is designed to hedge the sensitivity of variable annuity guarantee policy liabilities and available capital
to fund performance (both public equity and bond funds) and interest rate movements. The objective of the variable annuity dynamic hedging strategy is to offset, as closely as possible, the change in the economic value of guarantees with the profit
and loss from our hedge asset portfolio. The economic value of guarantees moves in close tandem, but not exactly, with our variable annuity guarantee policy liabilities, as it reflects best estimate liabilities and does not include any liability
provisions for adverse deviations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">Our current variable annuity guarantee dynamic hedging approach is to short exchange-traded equity index and
government bond futures and execute currency futures and lengthening interest rate swaps to hedge sensitivity of policy liabilities to fund performance and interest rate movements arising from variable annuity guarantees. We dynamically rebalance
these hedge instruments as market conditions change, in order to maintain the hedged position within established limits. Other derivative instruments (such as equity and interest rate options) are also utilized and we may consider the use of
additional hedge instruments opportunistically in the future. </P></div>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">Our variable annuity guarantee dynamic hedging strategy is not designed to completely offset the sensitivity of policy liabilities to all risks
associated with the guarantees embedded in these products. The profit (loss) on the hedge instruments will not completely offset the underlying losses (gains) related to the guarantee liabilities hedged because: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Policyholder behaviour and mortality experience are not hedged; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Provisions for adverse deviation in the policy liabilities are not hedged; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">A portion of interest rate risk is not hedged; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Credit spreads may widen and actions might not be taken to adjust accordingly; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Fund performance on a small portion of the underlying funds is not hedged due to lack of availability of effective
exchange-traded hedge instruments; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Performance of the underlying funds hedged may differ from the performance of the corresponding hedge instruments;
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Correlations between interest rates and equity markets could lead to unfavourable material impacts; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Unfavourable hedge rebalancing costs can be incurred during periods of high volatility from equity markets, bond markets
and/or interest rates. The impact is magnified when these impacts occur concurrently; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Not all other risks are hedged. </P></TD></TR></TABLE></div>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>42</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Macro Equity Risk Hedging Strategy </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">The objective of the macro equity risk hedging program is to maintain our overall earnings sensitivity to public equity market movements within our Board
approved risk appetite limits. The macro equity risk hedging program is designed to hedge earnings sensitivity due to movements in public equity markets arising from all sources (outside of dynamically hedged exposures). Sources of equity market
sensitivity addressed by the macro equity risk hedging program include: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Residual equity and currency exposure from variable annuity guarantees not dynamically hedged; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">General fund equity holdings backing <FONT STYLE="white-space:nowrap">non-participating</FONT> liabilities; and
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Unhedged provisions for adverse deviation related to variable annuity guarantees dynamically hedged.
</P></TD></TR></TABLE></div> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Asset Liability Management Strategy </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">Our asset liability management strategy is designed to help ensure that the market risks embedded in our assets and liabilities held in the
Company&#146;s general fund are effectively managed and that risk exposures arising from these assets and liabilities are maintained within risk limits. The embedded market risks include risks related to the level and movement of interest rates and
credit and swap spreads, public equity market performance, ALDA performance and foreign exchange rate movements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">General fund product liabilities
are categorized into groups with similar characteristics in order to support them with a specific asset strategy. We seek to align the asset strategy for each group to the premium and benefit pattern, policyholder options and guarantees, and
crediting rate strategies of the products they support. Similar strategies are established for assets in the Company&#146;s surplus account. The strategies are set using portfolio analysis techniques intended to optimize returns, subject to
considerations related to regulatory and economic capital requirements, and risk tolerances. They are designed to achieve broad diversification across asset classes and individual investment risks while being suitably aligned with the liabilities
they support. The strategies encompass asset mix, quality rating, term profile, liquidity, currency and industry concentration targets. </P></div> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Products which feature
guaranteed liability cash flows (i.e. where the projected net flows are not materially dependent upon economic scenarios) are managed to a target return investment strategy. The products backed by this asset group include: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Accumulation annuities (other than annuities with pass-through features), which are primarily
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">short-to-medium-term</FONT></FONT> obligations and offer interest rate guarantees for specified terms on single premiums. Withdrawals may or may not have market value adjustments;
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Payout annuities, which have no surrender options and include predictable and very long-dated obligations; and
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Insurance products, with recurring premiums extending many years in the future, and which also include a significant
component of very long-dated obligations. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We seek to manage the assets backing these long-dated benefits to achieve a target return sufficient to
support the obligations over their lifetime, subject to established risk tolerances, by investing in a basket of diversified alternative long-duration assets, which may include public equity investments (&#147;ALDA and public equity&#148;), with the
balance invested in fixed income. Utilizing ALDA and public equity investments provides a suitable match for long-duration liabilities that also enhances long-term investment returns and reduces aggregate risk through diversification. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Fixed income assets are managed to a benchmark developed to minimize interest rate risk against the liability cash flows not supported by ALDA and public equity
investments, and to achieve target returns/spreads required to preserve long-term interest rate investment assumptions used in liability pricing. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">For insurance and
annuity products where significant pass-through features exist, a total return strategy approach is used, generally combining fixed income with ALDA plus public equity investments. ALDA and public equity may be included to enhance long-term
investment returns and reduce aggregate risk through diversification. Target investment strategies are established using portfolio analysis techniques that seek to optimize long-term investment returns while considering the risks related to embedded
product guarantees and policyholder withdrawal options, the impact of regulatory and economic capital requirements and management tolerances with respect to short-term income volatility and long-term tail risk exposure. For these pass-through
products such as participating insurance and universal life insurance and fixed deferred annuities, the investment performance of assets supporting the liabilities will be largely passed through to policyholders as changes in the amounts of
dividends declared or rates of interest credited, subject to embedded minimum guarantees. Shorter duration liabilities such as fixed deferred annuities do not incorporate ALDA plus public equity into their target asset mixes. Authority to manage our
investment portfolios is delegated to investment professionals who manage to benchmarks derived from the target investment strategies established for each group, including interest rate risk tolerances. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our asset liability management strategy incorporates a wide variety of risk measurement, risk mitigation and risk management, and hedging processes. The liabilities and
risks to which the Company is exposed, however, cannot be completely matched or hedged due to both limitations on instruments available in investment markets and uncertainty of impact on liability cash flows from policyholder experience/behaviour.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>43</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Foreign Exchange Risk Management Strategy </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">Our policy is to generally match the currency of our assets with the currency of the liabilities they support. Where assets and liabilities are not
currency matched, we seek to hedge this exposure where appropriate to stabilize our capital positions and remain within our enterprise foreign exchange risk limits through the use of financial instruments such as derivatives. </P></div>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Risk from small balance sheet mismatches is accepted if managed within set risk limits. Risk exposures are measured in terms of potential changes in capital ratios, due
to foreign exchange rate movements, determined to represent a specified likelihood of occurrence based on internal models. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Liquidity Risk
Management Strategy </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">Global liquidity management policies and procedures are designed to provide adequate liquidity to cover cash and collateral obligations as they come due,
and to sustain and grow operations in both normal and stressed conditions. They reflect legal, regulatory, tax, operational or economic impediments to inter-entity funding. The asset mix of our balance sheet takes into account the need to hold
adequate unencumbered and appropriate liquid assets to satisfy the requirements arising under stressed scenarios and to allow our liquidity ratios to remain strong. We manage liquidity centrally and closely monitor the liquidity positions of our
principal subsidiaries. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We seek to mitigate liquidity risk by diversifying our business across different products, markets, geographical regions and policyholders.
We design insurance products to encourage policyholders to maintain their policies <FONT STYLE="white-space:nowrap">in-force,</FONT> to help generate a diversified and stable flow of recurring premium income. We design the policyholder termination
features of our wealth management products and related investment strategies with the goal of mitigating the financial exposure and liquidity risk related to unexpected policyholder terminations. We establish and implement investment strategies
intended to match the term profile of the assets to the liabilities they support, taking into account the potential for unexpected policyholder terminations and resulting liquidity needs. Liquid assets represent a large portion of our total assets.
We aim to reduce liquidity risk in our deposit funded businesses by diversifying our funding sources and appropriately managing the term structure of our funding. We forecast and monitor daily operating liquidity and cash movements in various
individual entities and operations as well as centrally, aiming to ensure liquidity is available and cash is employed optimally. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We also maintain centralized cash
pools and access to other sources of liquidity and contingent liquidity such as repurchase funding agreements. Our centralized cash pool consists of cash or near-cash, high quality short-term investments that are continually monitored for their
credit quality and market liquidity. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have established a variety of contingent liquidity sources. We maintain a $500&nbsp;million committed unsecured revolving
credit facility with certain Canadian chartered banks available for MFC, and a US$500&nbsp;million committed unsecured revolving credit facility with certain U.S. banks available for MFC and certain of its subsidiaries. There were no outstanding
borrowings under these credit facilities as of December&nbsp;31, 2018. In addition, John Hancock (&#147;JH&#148;) USA is a member of the Federal Home Loan Bank of Indianapolis (&#147;FHLBI&#148;), which enables the Company to obtain loans from FHLBI
as an alternative source of liquidity that is collaterizable by qualifying mortgage loans, mortgage-backed securities and U.S. Treasury and Agency securities. Based on regulatory limitations, as of December&nbsp;31, 2018, JHUSA had an estimated
maximum borrowing capacity of US$3.8&nbsp;billion under the FHLBI facility, with no amounts outstanding. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table outlines the
maturity of the Company&#146;s significant financial liabilities. </P></div> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Maturity of financial liabilities</B><SUP
STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B><FONT STYLE="font-family:ARIAL; font-size:9pt" COLOR="#1f320c"><SUP
STYLE="font-size:85%; vertical-align:top"> </SUP> </FONT></B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="58%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Less than<BR>1 year</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">1 to 3<BR>years</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">3 to 5<BR>years</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Over 5<BR>years</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Long-term debt</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>681</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,088</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,769</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Capital instruments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,732</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,732</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Derivatives</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>359</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>229</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>227</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,988</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,803</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Deposits from Bank clients<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,351</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,147</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,185</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,684</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Lease obligations</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>129</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>203</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>93</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>150</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>575</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The amounts shown above are net of the related unamortized deferred issue costs. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Carrying value and fair value of deposits from Bank clients as at December&nbsp;31, 2018 was $19,684&nbsp;million and
$19,731&nbsp;million, respectively (2017 &#150; $18,131&nbsp;million and $18,149&nbsp;million, respectively). Fair value is determined by discounting contractual cash flows, using market interest rates currently offered for deposits with similar
terms and conditions. All deposits from Bank clients were categorized in Level&nbsp;2 of the fair value hierarchy (2017 &#150; Level&nbsp;2). </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">Through the normal course of business, pledging of assets is required to comply with jurisdictional regulatory and other requirements including
collateral pledged to partially mitigate derivative counterparty credit risk, assets pledged to exchanges as initial margin and assets held as collateral for repurchase funding agreements. Total unencumbered assets were $427.9 billion as at
December&nbsp;31, 2018 (2017 &#150; $396.8 billion). </P></div>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>44</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Market Risk Sensitivities and Market Risk Exposure Measures </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Variable Annuity and Segregated Fund Guarantees Sensitivities and Risk Exposure Measures </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">Guarantees on variable annuity products and segregated funds may include one or more of death, maturity, income and withdrawal guarantees. Variable
annuity and segregated fund guarantees are contingent and only payable upon the occurrence of the relevant event, if fund values at that time are below guaranteed values. Depending on future equity market levels, liabilities on current <FONT
STYLE="white-space:nowrap">in-force</FONT> business would be due primarily in the period from 2019 to 2039. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We seek to mitigate a portion of the risks embedded in
our retained (i.e. net of reinsurance) variable annuity and segregated fund guarantee business through the combination of our dynamic and macro hedging strategies (see &#147;Publicly Traded Equity Performance Risk&#148; below). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">The table below shows selected information regarding the Company&#146;s variable annuity and segregated fund investment-related guarantees gross and
net of reinsurance. </P></div> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Variable annuity and segregated fund guarantees, net of reinsurance </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="98%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Guarantee<BR>value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Fund&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Amount&nbsp;at<BR>risk<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000">Guarantee<BR>value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000">Fund&nbsp;value</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000">Amount<BR>at&nbsp;risk<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Guaranteed minimum income benefit<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,264</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,675</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,593</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">5,201</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,195</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,074</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Guaranteed minimum withdrawal benefit</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>60,494</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>49,214</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>11,388</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61,767</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56,512</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,943</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Guaranteed minimum accumulation benefit</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>18,611</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>18,720</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>141</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">18,162</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">18,705</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross living benefits<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>84,369</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>71,609</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,122</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85,130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79,412</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,028</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Gross death
benefits<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>10,663</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>14,654</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,567</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">10,743</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">16,973</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">1,001</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total gross of reinsurance</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;95,032</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;86,263</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;14,689</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&nbsp;&nbsp;95,873</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">96,385</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">8,029</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Living benefits reinsured</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,515</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,173</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,343</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,522</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,667</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">911</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Death benefits reinsured</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,353</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,070</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>493</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">3,014</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">3,040</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">435</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total reinsured</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>6,868</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,243</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,836</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">7,536</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">6,707</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">1,346</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total, net of reinsurance</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>88,164</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>81,020</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>12,853</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">88,337</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;89,678</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;6,683</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Contracts with guaranteed long-term care benefits are included in this category. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Where a policy includes both living and death benefits, the guarantee in excess of the living benefit is included in the
death benefit category as outlined in footnote 3. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Death benefits include stand-alone guarantees and guarantees in excess of living benefit guarantees where both death and
living benefits are provided on a policy. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Amount at risk <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">(in-the-money</FONT></FONT> amount) is
the excess of guarantee values over fund values on all policies where the guarantee value exceeds the fund value. This amount is not currently payable. For guaranteed minimum death benefit, the amount at risk is defined as the current guaranteed
minimum death benefit in excess of the current account balance. For guaranteed minimum income benefit, the amount at risk is defined as the excess of the current annuitization income base over the current account value. For all guarantees, the
amount at risk is floored at zero at the single contract level. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The amount at risk net of reinsurance at December&nbsp;31, 2018 was $12,853&nbsp;million (2017 &#150; $6,683 million) of
which: US$6,899&nbsp;million (2017 &#150; US$3,982 million) was on our U.S. business, $2,654&nbsp;million (2017 &#150; $1,342 million) was on our Canadian business, US$332&nbsp;million (2017 &#150; US$95 million) was on our Japan business and
US$246&nbsp;million (2017 &#150; US$181 million) was related to Asia (other than Japan) and our <FONT STYLE="white-space:nowrap">run-off</FONT> reinsurance business. </P></TD></TR></TABLE></div>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Investment categories for variable contracts with guarantees </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">Variable contracts with guarantees, including variable annuities and variable life, are invested, at the policyholder&#146;s discretion subject to
contract limitations, in various fund types within the segregated fund accounts and other investments. The account balances by investment category are set out below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">($ millions)</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Investment category</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Equity funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>43,528</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">47,508</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balanced funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>41,625</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47,369</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Bond funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>12,309</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,095</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Money market funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,107</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,905</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other fixed interest rate investments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,997</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,777</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;101,566</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;111,654</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> </div>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>45</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Caution Related to Sensitivities </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">In the sections that follow, we provide sensitivities and risk exposure measures for certain risks. These include sensitivities due to specific changes
in market prices and interest rate levels projected using internal models as at a specific date and are measured relative to a starting level reflecting the Company&#146;s assets and liabilities at that date and the actuarial factors, investment
activity and investment returns assumed in the determination of policy liabilities. The risk exposures measure the impact of changing one factor at a time and assume that all other factors remain unchanged. Actual results can differ significantly
from these estimates for a variety of reasons including the interaction among these factors when more than one changes; changes in actuarial and investment return and future investment activity assumptions; actual experience differing from the
assumptions, changes in business mix, effective tax rates and other market factors; and the general limitations of our internal models. For these reasons, the sensitivities should only be viewed as directional estimates of the underlying
sensitivities for the respective factors based on the assumptions outlined below. Given the nature of these calculations, we cannot provide assurance that the actual impact on net income attributed to shareholders </P></div>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">or on MLI&#146;s LICAT total ratio will be as indicated. Market movements affect LICAT capital sensitivities both through income and other </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">components of the regulatory capital framework. For example, LICAT is affected by changes to other comprehensive income. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Publicly Traded Equity Performance Risk Sensitivities and Exposure Measures </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As outlined above, the macro hedging strategy is designed to mitigate public equity risk arising from variable annuity guarantees not dynamically hedged and from other
products and fees. In addition, our variable annuity guarantee dynamic hedging strategy is not designed to completely offset the sensitivity of policy liabilities to all risks associated with the guarantees embedded in these products. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">The table below shows the potential impact on net income attributed to shareholders resulting from an immediate 10%, 20% and 30% change in market values
of publicly traded equities followed by a return to the expected level of growth assumed in the valuation of policy liabilities. If market values were to remain flat for an entire year, the potential impact would be roughly equivalent to an
immediate decline in market values equal to the expected level of annual growth assumed in the valuation of policy liabilities. Further, if after market values dropped 10%, 20% or 30% they continued to decline, remained flat, or grew more slowly
than assumed in the valuation the potential impact on net income attributed to shareholders could be considerably more than shown. Refer to &#147;Sensitivity of Earnings to Changes in Assumptions&#148; for more information on the level of growth
assumed and on the net income sensitivity to changes in these long-term assumptions. The potential impact is shown after taking into account the impact of the change in markets on the hedge assets. While we cannot reliably estimate the amount of the
change in dynamically hedged variable annuity guarantee liabilities that will not be offset by the profit or loss on the dynamic hedge assets, we make certain assumptions for the purposes of estimating the impact on net income attributed to
shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">This estimate assumes that the performance of the dynamic hedging program would not completely offset the gain/loss from the dynamically hedged
variable annuity guarantee liabilities. It assumes that the hedge assets are based on the actual position at the period end, and that equity hedges in the dynamic program are rebalanced at 5% intervals. In addition, we assume that the macro hedge
assets are rebalanced in line with market changes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">It is also important to note that these estimates are illustrative, and that the hedging program may underperform
these estimates, particularly during periods of high realized volatility and/or periods where both interest rates and equity market movements are unfavourable. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">The Standards of Practice for the valuation of insurance contract liabilities and guidance published by the CIA constrain the investment return
assumptions for public equities and certain ALDA assets based on historical return benchmarks for public equities. The potential impact on net income attributed to shareholders does not take into account possible changes to investment return
assumptions resulting from the impact of declines in public equity market values on these historical return benchmarks. </P></div>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>46</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Potential immediate impact on net income attributed to shareholders arising from changes to
public equity returns</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">(1),(2),(3)<B></B></SUP><B> </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:10.0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-30%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-20%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-10%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+10%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+20%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+30%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>Underlying sensitivity to net income attributed to shareholders</B><SUP
STYLE="font-size:85%; line-height:7.0pt ; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP STYLE="font-size:85%; line-height:7.0pt ; vertical-align:top">(4)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">Variable annuity guarantees</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;(3,650</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;(2,240</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;(1,040</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;890</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;1,610</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;2,170</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">Asset based fees (annualized)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(480</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(320</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(160</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>160</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>320</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>480</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">General fund equity investments<SUP
STYLE="font-size:85%; line-height:7.0pt ; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(1,150</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(780</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(390</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>290</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>580</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>860</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">Total underlying sensitivity before hedging</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(5,280</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(3,340</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(1,590</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>1,340</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>2,510</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>3,510</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">Impact of macro and dynamic hedge assets<SUP
STYLE="font-size:85%; line-height:7.0pt ; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>3,110</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>1,940</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>910</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(820</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(1,450</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(1,930</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>Net potential impact on net income attributed
to shareholders after impact of hedging</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(2,170</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(1,400</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(680</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>520</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>1,060</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>1,580</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL">As at December&nbsp;31, 2017</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-30%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-20%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-10%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+10%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+20%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+30%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="8"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>Underlying sensitivity to net income attributed to shareholders</B><SUP
STYLE="font-size:85%; line-height:7.0pt ; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP STYLE="font-size:85%; line-height:7.0pt ; vertical-align:top">(4)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; line-height:10pt; font-size:8pt; font-family:ARIAL"><B></B><SUP STYLE="font-size:85%; line-height:7.0pt ; vertical-align:top"></SUP><FONT
STYLE="font-size:5pt"><SUP STYLE="font-size:85%; line-height:7.0pt ; vertical-align:top"><B></B></SUP><B>&nbsp;</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">Variable annuity guarantees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(3,940</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(2,260</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(960</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">670</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">1,110</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">1,410</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">Asset based fees (annualized)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(510</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(340</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(170</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">170</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">340</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">510</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">General fund equity investments<SUP
STYLE="font-size:85%; line-height:7.0pt ; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(930</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(590</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(270</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">270</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">540</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">810</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">Total underlying sensitivity before hedging</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(5,380</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(3,190</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(1,400</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;1,110</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">1,990</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">2,730</P></TD>
<TD NOWRAP VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">Impact of macro and dynamic hedge assets<SUP
STYLE="font-size:85%; line-height:7.0pt ; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">3,220</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">1,850</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">790</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(640</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;(1,100</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;(1,410</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net potential impact on net income attributed to shareholders
after impact of hedging</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(2,160</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(1,340</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(610</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">470</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">890</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">1,320</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Caution Related to Sensitivities&#148; above. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The tables show the potential impact on net income attributed to shareholders resulting from an immediate 10%, 20% and 30%
change in market values of publicly traded equities followed by a return to the expected level of growth assumed in the valuation of policy liabilities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Please refer to &#147;Sensitivity of Earnings to Changes in Assumptions&#148; for more information on the level of growth
assumed and on the net income sensitivity to changes in these long-term assumptions. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Defined as earnings sensitivity to a change in public equity markets including settlements on reinsurance contracts, but
before the offset of hedge assets or other risk mitigants. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This impact for general fund equities is calculated as at a <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">point-in-time</FONT></FONT> and does not include: (i)&nbsp;any potential impact on public equity weightings; (ii)&nbsp;any gains or losses on AFS public equities held in the Corporate and Other segment; or (iii)&nbsp;any
gains or losses on public equity investments held in Manulife Bank. The participating policy funds are largely self-supporting and generate no material impact on net income attributed to shareholders as a result of changes in equity markets.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes the impact of rebalancing equity hedges in the macro and dynamic hedging program. The impact of dynamic hedge
rebalancing represents the impact of rebalancing equity hedges for dynamically hedged variable annuity guarantee best estimate liabilities at 5% intervals but does not include any impact in respect of other sources of hedge ineffectiveness (e.g.
fund tracking, realized volatility and equity, interest rate correlations different from expected among other factors). </P></TD></TR></TABLE></div> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Changes in equity
markets impact our available and required components of the LICAT total ratio. The following table shows the potential impact to MLI&#146;s LICAT total ratio resulting from changes in public equity market values. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Potential immediate impact on MLI&#146;s LICAT total ratio arising from public equity returns different than the expected return for policy
liability valuation</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">(1),(2),(3)<B></B></SUP><B> </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="22" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:9.0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Impact on MLI&#146;s LICAT total
ratio</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Percentage points</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:9pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-30%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:9pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-20%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:9pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-10%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:9pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+10%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:9pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+20%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:9pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+30%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>December&nbsp;31, 2018</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(6</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(4</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(2</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>1</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>5</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>7</B></P></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">March&nbsp;31, 2018</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(6</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(4</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(2</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">2</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">4</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">6</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Caution Related to Sensitivities&#148; above. In addition, estimates exclude changes to the net actuarial
gains/losses with respect to the Company&#146;s pension obligations as a result of changes in equity markets, as the impact on the quoted sensitivities is not considered to be material. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The potential impact is shown assuming that the change in value of the hedge assets does not completely offset the change
in the dynamically hedged variable annuity guarantee liabilities. The estimated amount that would not be completely offset relates to our practices of not hedging the provisions for adverse deviation and of rebalancing equity hedges for dynamically
hedged variable annuity liabilities at 5% intervals. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">OSFI rules for segregated fund guarantees reflect full capital impacts of shocks over 20 quarters within a prescribed
range. As such, the deterioration in equity markets could lead to further increases in capital requirements after the initial shock. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>47</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Interest Rate and Spread Risk Sensitivities and Exposure Measures </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">At December&nbsp;31, 2018, we estimated the sensitivity of our net income attributed to shareholders to a 50 basis point parallel decline in interest
rates to be a charge of $100&nbsp;million, and to a 50 basis point increase in interest rates to be a benefit of $100&nbsp;million. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The table below shows the
potential impact on net income attributed to shareholders from a 50 basis point parallel move in interest rates. This includes a change of 50 basis points in current government, swap and corporate rates for all maturities across all markets with no
change in credit spreads between government, swap and corporate rates, and with a floor of zero on government rates where government rates are not currently negative, relative to the rates assumed in the valuation of policy liabilities, including
embedded derivatives. For variable annuity guarantee liabilities that are dynamically hedged, it is assumed that interest rate hedges are rebalanced at 20 basis point intervals. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As the sensitivity to a 50 basis point change in interest rates includes any associated change in the applicable reinvestment scenarios, the impact of changes to interest
rates for less than, or more than 50 basis points is unlikely to be linear. Furthermore, our sensitivities are not consistent across all regions in which we operate, and the impact of yield curve changes will vary depending upon the geography where
the change occurs. Reinvestment assumptions used in the valuation of policy liabilities tend to amplify the negative effects of a decrease in interest rates and dampen the positive effects of interest rate increases. This is because the reinvestment
assumptions used in the valuation of our insurance liabilities are based on interest rate scenarios and calibration criteria set by the Canadian Actuarial Standards Board, while our interest rate hedges are valued using current market interest
rates. Therefore, in any particular quarter, changes to the reinvestment assumptions are not fully aligned to changes in current market interest rates especially when there is a significant change in the shape of the interest rate curve. As a
result, the impact from <FONT STYLE="white-space:nowrap">non-parallel</FONT> movements may be materially different from the estimated impact of parallel movements. For example, if long-term interest rates increase more than short-term interest rates
(sometimes referred to as a steepening of the yield curve) in North America, the decrease in the value of our swaps may be greater than the decrease in the value of our insurance liabilities. This could result in a charge to net income attributed to
shareholders in the short-term even though the rising and steepening of the yield curve, if sustained, may have a positive long-term economic impact. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The potential
impact on net income attributed to shareholders does not take into account any future potential changes to our URR assumptions or calibration criteria for stochastic risk-free rates or other potential impacts of lower interest rate levels, for
example, increased strain on the sale of new business or lower interest earned on our surplus assets. The impact also does not reflect any unrealized gains or losses on AFS fixed income assets held in our Corporate and Other segment. Changes in the
market value of these assets may provide a natural economic offset to the interest rate risk arising from our product liabilities. In order for there to also be an accounting offset, the Company would need to realize a portion of the AFS fixed
income asset unrealized gains or losses. It is not certain we would crystallize any of the unrealized gains or losses available. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">The impact does
not reflect any potential effect of changing interest rates to the value of our ALDA assets. Rising interest rates could negatively impact the value of our ALDA assets (see &#147;Critical Accounting and Actuarial Policies &#150; Fair Value of
Invested Assets&#148;, below). More information on ALDA can be found under the section &#147;Alternative Long-Duration Asset Performance Risk Sensitivities and Exposure Measures&#148;, below. </P></div>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Under LICAT, changes in unrealized gains or losses in our AFS bond portfolio resulting from interest rate shocks tend to dominate capital sensitivities. As a result, the
reduction in interest rates improves LICAT total ratios and vice-versa. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">The following table shows the potential impact on net income attributed to shareholders including the change in the market value of AFS fixed income
assets held in our Corporate and Other segment, which could be realized through the sale of these assets. </P></div>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>48</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Potential impact on net income attributed to shareholders and MLI&#146;s LICAT total ratio of
an immediate parallel change in interest rates relative to rates assumed in the valuation of policy liabilities</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP
STYLE="font-size:85%; vertical-align:top">(1),(2),(3),(4)<B></B></SUP><B> </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD></TR>
<TR BGCOLOR="#e9edf2" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="6" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="9" VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT STYLE="font-size:7pt"><B>2018</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"><FONT STYLE="font-size:7pt">2017</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"><FONT STYLE="font-size:7pt" COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT STYLE="font-size:7pt">-50bp</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><FONT STYLE="font-size:7pt">+50bp</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"><FONT STYLE="font-size:7pt">-50bp</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"><FONT STYLE="font-size:7pt">+50bp</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income attributed to shareholders ($ millions)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Excluding change in market value of AFS fixed income assets held in the Corporate and
Other segment</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(100</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">$</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" ALIGN="right">(200</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#e9edf2">)&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">$</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">From fair value changes in AFS fixed income assets held in the Corporate and Other segment,
if realized</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,600</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" ALIGN="right">1,100</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" ALIGN="right">(1,000</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#e9edf2">)&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><B>MLI&#146;s LICAT total ratio (Percentage points)</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">LICAT total ratio change in percentage points<SUP
STYLE="font-size:85%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Caution Related to Sensitivities&#148; above. In addition, estimates exclude changes to the net actuarial
gains/losses with respect to the Company&#146;s pension obligations as a result of changes in interest rates, as the impact on the quoted sensitivities is not considered to be material. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes guaranteed insurance and annuity products, including variable annuity contracts as well as adjustable benefit
products where benefits are generally adjusted as interest rates and investment returns change, a portion of which have minimum credited rate guarantees. For adjustable benefit products subject to minimum rate guarantees, the sensitivities are based
on the assumption that credited rates will be floored at the minimum. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The amount of gain or loss that can be realized on AFS fixed income assets held in the Corporate and Other segment will
depend on the aggregate amount of unrealized gain or loss. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Sensitivities are based on projected asset and liability cash flows and the impact of realizing fair value changes in AFS
fixed income is based on the holdings at the end of the period. </P></TD></TR></TABLE></div><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#ffffff;;padding-top:2pt;padding-bottom:3pt">
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes all LICAT impacts, including realized and unrealized fair value changes in AFS fixed income assets. The LICAT
ratio is not applicable before January 1, 2018. </P></TD></TR></TABLE></div> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The $100&nbsp;million decrease in sensitivity to a 50 basis point decline in interest rates
from December&nbsp;31, 2017 was primarily due to purchases of fixed income assets from sales of ALDA (due to reducing the allocation to ALDA in our portfolio asset mix) in the U.S., which reduced the reinvestment exposure to interest rates. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">The following tables show the potential impact on net income attributed to shareholders resulting from a change in corporate spreads and swap spreads
over government bond rates for all maturities across all markets with a floor of zero on the total interest rate, relative to the spreads assumed in the valuation of policy liabilities. </P></div>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Potential impact on net income attributed to shareholders and MLI&#146;s LICAT total ratio arising from changes to corporate spreads and swap
spreads</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">(1),(2),(3)<B></B></SUP><B> </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>


<TR BGCOLOR="#e9edf2" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:2pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"><B>Corporate spreads<SUP STYLE="font-size:85%; vertical-align:top">(4),(5)</SUP></B> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>2018</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">2017</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-50bp</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+50bp</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-50bp</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+50bp</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#e9edf2"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income attributed to shareholders ($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;(600</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;600</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">$</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" ALIGN="right">&nbsp;&nbsp;&nbsp;(1,000</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#e9edf2">)&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">$</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;1,000</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">MLI&#146;s LICAT total ratio (change percentage points)<SUP
STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"><B>(6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"><B>Swap spreads</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>2018</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">2017</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-20bp</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+20bp</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-20bp</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+20bp</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#e9edf2"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income attributed to shareholders ($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="top" BGCOLOR="#dde0da"><B>$&nbsp;&nbsp;&nbsp;&nbsp;100</B></TD>
<TD NOWRAP VALIGN="top" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;(100</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">$</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;400</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">$</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" ALIGN="right">&nbsp;&nbsp;&nbsp;(400</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#e9edf2">)&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">MLI&#146;s LICAT total ratio (change percentage points)<SUP
STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"><B>nil</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right"><B>nil</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;border:solid 1px #e9edf2;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Caution Related to Sensitivities&#148; above. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The impact on net income attributed to shareholders assumes no gains or losses are realized on our AFS fixed income assets
held in the Corporate and Other segment and excludes the impact of changes in segregated fund bond values due to changes in credit spreads. The participating policy funds are largely self-supporting and generate no material impact on net income
attributed to shareholders as a result of changes in corporate and swap spreads. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Sensitivities are based on projected asset and liability cash flows. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Corporate spreads are assumed to grade to the long-term average over five years. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">As the sensitivity to a 50 basis point decline in corporate spreads includes the impact of a change in deterministic
reinvestment scenarios where applicable, the impact of changes to corporate spreads for less than, or more than, the amounts indicated are unlikely to be linear.
</P></TD></TR></TABLE></div><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#ffffff;;padding-top:2pt;padding-bottom:3pt">
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Includes all LICAT impacts, including realized and unrealized fair value changes in AFS fixed income assets. Under LICAT,
spread movements are determined from a selection of investment grade bond indices with BBB and better bonds for each jurisdiction. For LICAT, we use the following indices: FTSE TMX Canada All Corporate Bond Index, Barclays USD Liquid Investment
Grade Corporate Index, and Nomura-BPI (Japan). The LICAT ratio is not applicable before January 1, 2018. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The $400&nbsp;million decrease in the
sensitivity to a 50 basis point decline in corporate spreads from December&nbsp;31, 2017 was primarily due to purchases of fixed income assets from sales of ALDA (due to reducing the allocation to ALDA in our portfolio asset mix) in the U.S., which
reduced the reinvestment exposure to corporate spreads. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Swap spreads remain at low levels, and if they were to rise, this could generate material charges to net
income attributed to shareholders. Swap spread sensitivity decreased primarily due to additional shortening swaps put in place. </P></div>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>49</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Alternative Long-Duration Asset Performance Risk Sensitivities and Exposure Measures
</B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">The following table shows the potential impact on net income attributed to shareholders resulting from an immediate 10% change in market values of ALDA
followed by a return to the expected level of growth assumed in the valuation of policy liabilities. If market values were to remain flat for an entire year, the potential impact would be roughly equivalent to an immediate decline in market values
equal to the expected level of annual growth assumed in the valuation of policy liabilities. Further, if after market values dropped 10% they continued to decline, remained flat, or grew more slowly than assumed in the valuation of policy
liabilities, the potential impact on net income attributed to shareholders could be considerably more than shown. Refer to &#147;Sensitivity of Earnings to Changes in Assumptions&#148; below, for more information on the level of growth assumed and
on the net income sensitivity to changes in these long-term assumptions. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">ALDA includes commercial real estate, timber and farmland real estate,
oil and gas direct holdings, and private equities, some of which relate to oil and gas. </P></div> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Potential impact on net income attributed to
shareholders arising from changes in ALDA returns</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">(1),(2),(3),(4),(5),(6)
<B></B></SUP><B> </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


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<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:2pt">
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at
December&nbsp;31,</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10.0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="center">2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-10%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+10%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-10%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+10%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Real estate, agriculture and timber assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;(1,300</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;1,200</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">$</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;(1,300</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#e9edf2">)&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">$</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;1,300</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Private equities and other ALDA</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(1,600</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,600</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2" ALIGN="right">(1,500</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">)&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2" ALIGN="right">1,400</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>Alternative long-duration
assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;(2,900</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>)&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;2,800</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;(2,800</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">)&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;2,700</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#e9edf2"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD>
<TD VALIGN="bottom" BGCOLOR="#e9edf2"></TD></TR>
</TABLE> <div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Caution Related to Sensitivities&#148; above. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This impact is calculated as at a
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">point-in-time</FONT></FONT> impact and does not include: (i)&nbsp;any potential impact on ALDA weightings or (ii)&nbsp;any gains or losses on ALDA held in the Corporate and Other
segment. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The participating policy funds are largely self-supporting and generate no material impact on net income attributed to
shareholders as a result of changes in ALDA returns. For some classes of ALDA, where there is not an appropriate long-term benchmark available, the return assumptions used in valuation are not permitted by the Standards of Practice and CIA guidance
to result in a lower reserve than an assumption based on a historical return benchmark for public equities in the same jurisdiction. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Net income impact does not consider any impact of the market correction on assumed future return assumptions.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Please refer to &#147;Sensitivity of Earnings to Changes in Assumptions&#148; below, for more information on the level of
growth assumed and on the net income sensitivity to changes in these long-term assumptions. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The impact of changes to the portfolio asset mix supporting our North American legacy business are reflected in the
sensitivities when the changes take place. </P></TD></TR></TABLE></div> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Foreign Exchange Risk Sensitivities and Exposure Measures
</B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">We generally match the currency of our assets with the currency of the insurance and investment contract liabilities they support, with the objective of
mitigating risk of loss arising from currency exchange rate changes. As at December&nbsp;31, 2018, we did not have a material unmatched currency exposure. </P></div> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The
following table shows the potential impact on core earnings of a 10% change in the Canadian dollar relative to our other key operating currencies. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Potential impact on core earnings of changes in
currency</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">(1),(2) <B></B></SUP><B> </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="8" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:10pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+10%<BR>strengthening</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-10%<BR>weakening</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">+10%<BR>strengthening</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:7pt; font-family:ARIAL" ALIGN="right">-10%<BR>weakening</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">10% change in the Canadian dollar relative to the U.S. dollar and the Hong Kong dollar</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;(340)</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;340</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;(280)</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:10pt; font-size:8pt; font-family:ARIAL">10% change in the Canadian dollar relative to
the Japanese yen</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>(60)</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>60</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">(60)</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL" ALIGN="right">60</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:10pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">See &#147;Caution Related to Sensitivities&#148; above. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">LICAT regulatory capital ratios are also sensitive to the fluctuations in the Canadian dollar relative to our other key operating currencies. The direction and
materiality of this sensitivity varies across various capital ratios. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>50</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Liquidity Risk Exposure Measures </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:-1%; margin-right:-1%;background-color:#e9edf2;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:9pt; font-family:ARIAL">We manage liquidity levels of the consolidated group and key subsidiaries against established thresholds. We measure liquidity under both immediate
(within one month) and ongoing (within one year) stress scenarios. Our policy is to maintain the ratio of assets to liabilities, both adjusted for their liquidity values, above the <FONT STYLE="white-space:nowrap">pre-established</FONT> limit. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; font-size:9pt; font-family:ARIAL">Increased use of derivatives for hedging purposes has necessitated greater emphasis on measurement and management of contingent liquidity risk related
to these instruments, in particular the movement of <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#147;over-the-counter&#148;</FONT></FONT> derivatives to central clearing in the U.S. and Japan places an emphasis on cash as the
primary source of liquidity as opposed to security holdings. The market value of our derivative portfolio is therefore regularly stress tested to assess the potential collateral and cash settlement requirements under various market conditions.
</P></div> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Manulife Bank (the &#147;Bank&#148;) has a stand-alone liquidity risk management policy framework. The framework includes stress testing, cash flow modeling, a
funding plan and a contingency plan. The Bank has an established securitization infrastructure which enables the Bank to access a range of funding and liquidity sources. The Bank models extreme but plausible stress scenarios that demonstrate that
the Bank has a sufficient pool of highly liquid money market securities and holdings of sovereign bonds, near-sovereign bonds and other liquid marketable securities, which when combined with the Bank&#146;s capacity to securitize residential
mortgage assets provides sufficient liquidity to meet potential requirements under these stress scenarios. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Credit Risk </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Credit risk is the risk of loss due to the inability or unwillingness of a borrower or counterparty to fulfill its payment obligations.
</B></FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Credit Risk Management Strategy </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Credit risk is governed by the Credit Committee which oversees the overall credit risk management program. The Company has established objectives for overall quality and
diversification of our general fund investment portfolio and criteria for the selection of counterparties, including derivative counterparties, reinsurers and insurance providers. Our policies establish exposure limits by borrower, corporate
connection, quality rating, industry, and geographic region, and govern the usage of credit derivatives. Corporate connection limits vary according to risk rating. Our general fund fixed income investments are primarily public and private investment
grade bonds and commercial mortgages. We have a program for selling Credit Default Swaps (&#147;CDS&#148;) that employs a highly selective, diversified and conservative approach. CDS decisions follow the same underwriting standards as our cash bond
portfolio and the addition of this asset class allows us to better diversify our overall credit portfolio. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our credit granting units follow a defined evaluation
process that provides an objective assessment of credit proposals. We assign a risk rating, based on a standardized <FONT STYLE="white-space:nowrap">22-point</FONT> scale consistent with those of external rating agencies, following a detailed
examination of the borrower that includes a review of business strategy, market competitiveness, industry trends, financial strength, access to funds, and other risks facing the counterparty. We assess and update risk ratings regularly. For
additional input to the process, we also assess credit risks using a variety of industry standard market-based tools and metrics. We map our risk ratings to <FONT STYLE="white-space:nowrap">pre-established</FONT> probabilities of default and loss
given defaults, based on historical industry and Company experience, and to resulting default costs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We establish delegated credit approval authorities and make
credit decisions on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">case-by-case</FONT></FONT> basis at a management level appropriate to the size and risk level of the transaction, based on the delegated authorities that vary
according to risk rating. Major credit decisions are approved by the Credit Committee and the largest decisions are approved by the CEO and, in certain cases, by the Board of Directors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We limit the types of authorized derivatives and applications and require <FONT STYLE="white-space:nowrap">pre-approval</FONT> of all derivative application strategies
and regular monitoring of the effectiveness of derivative strategies. Derivative counterparty exposure limits are established based on a minimum acceptable counterparty credit rating (generally <FONT STYLE="white-space:nowrap">A-</FONT> from
internationally recognized rating agencies). We measure derivative counterparty exposure as net potential credit exposure, which takes into consideration <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT>
values of all transactions with each counterparty, net of any collateral held, and an allowance to reflect future potential exposure. Reinsurance counterparty exposure is measured reflecting the level of ceded liabilities net of collateral held. The
creditworthiness of all reinsurance counterparties is reviewed internally on a regular basis. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Regular reviews of the credits within the various portfolios are
undertaken with the goal of identifying changes to credit quality and, where appropriate, taking corrective action. Prompt identification of problem credits is a key objective. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We establish an allowance for losses on a loan when it becomes impaired as a result of deterioration in credit quality, to the extent there is no longer assurance of
timely realization of the carrying value of the loan and related investment income. We reduce the carrying value of an impaired loan to its estimated net realizable value when we establish the allowance. We establish an allowance for losses on
reinsurance contracts when a reinsurance counterparty becomes unable or unwilling to fulfill its contractual obligations. We base the allowance for loss on current recoverables and ceded policy liabilities. There is no assurance that the allowance
for losses will be adequate to cover future potential losses or that additional allowances or asset write-downs will not be required. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Policy liabilities include
general provisions for credit losses from future asset impairments. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our credit policies, procedures and investment strategies are established under a strong
governance framework and are designed to ensure that risks are identified, measured and monitored consistent with our risk appetite. We seek to actively manage credit exposure </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>51</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">
in our investment portfolio to reduce risk and minimize losses, and derivative counterparty exposure is managed proactively. However, we could experience volatility on a quarterly basis and
losses could potentially rise above long-term expected and historical levels. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Credit Risk Exposure Measures </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31, 2018 and December&nbsp;31, 2017, for every 50% that credit defaults over the next year exceed the rates provided for in policy liabilities, net
income attributed to shareholders would be reduced by $62&nbsp;million and $63&nbsp;million in each year, respectively. Credit downgrades for fixed income investments would adversely impact our regulatory capital, as required capital levels for such
investments are based on the credit quality of each instrument. In addition, credit downgrades could also be higher than assumed in policy liabilities, resulting in policy liability increases and a reduction in net income attributed to shareholders.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The table below shows net impaired assets and allowances for loan losses. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Net Impaired Assets and Loan Losses </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions, unless otherwise stated)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net impaired fixed income assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>$179</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">173</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net impaired fixed income assets as a % of total invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.051%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.052%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Allowance for loan losses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>$95</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Product Risk </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Product risk is the risk of failure to design, implement and maintain a product or service to achieve expected outcomes and the risk of loss due to actual experience emerging differently than assumed when a product was designed
and priced. </B></FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Product Risk Management </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Product risk is governed by the Product Oversight Committee for the insurance business and by the Global Wealth and Asset Management (&#147;Global WAM&#148;) Risk
Committee for global WAM business. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Insurance Product Risk Management Strategy </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Product Oversight Committee oversees the overall insurance risk management program. The Product Oversight Committee has established a broad framework for managing
insurance risk under a set of policies, standards and guidelines, to ensure that our product offerings align with our risk taking philosophy and risk limits, and achieve acceptable profit margins. These cover: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">product design features </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">use of reinsurance </TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top">pricing models and software </TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top">internal risk-based capital allocations </TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top">target profit objectives
</TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

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<TD ALIGN="left" VALIGN="top">pricing methods and assumption setting </TD></TR></TABLE>
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<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">stochastic and stress scenario testing </TD></TR></TABLE>
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<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">required documentation </TD></TR></TABLE>
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<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">review and approval processes </TD></TR></TABLE>
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<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">experience monitoring programs </TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In each business unit that sells insurance, we
designate individual pricing officers who are accountable for pricing activities, chief underwriters who are accountable for underwriting activities and chief claims risk managers who are accountable for claims activities. Both the pricing officer
and the general manager of each business unit approve the design and pricing of each product, including key claims, policyholder behaviour, investment return and expense assumptions, in accordance with global policies and standards. Risk management
functions provide additional oversight, review and approval of all product and pricing initiatives, as well as material underwriting initiatives. Actuarial functions provide oversight review and approval of policy liability valuation methods and
assumptions. In addition, both risk and actuarial functions review and approve new reinsurance arrangements. We perform annual risk and compliance self-assessments of the product development, pricing, underwriting and claims activities of all
insurance businesses. To leverage best practices, we facilitate knowledge transfer between staff working with similar businesses in different geographies. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We utilize
a global underwriting manual intended to ensure insurance underwriting practices for direct written life business are consistent across the organization while reflecting local conditions. Each business unit establishes underwriting policies and
procedures, including criteria for approval of risks and claims adjudication policies and procedures. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We apply retention limits per insured life that are intended to
reduce our exposure to individual large claims which are monitored in each business unit. These retention limits vary by market and jurisdiction. We reinsure exposure in excess of these limits with other companies (see &#147;Risk Factors-Product
Risk Factors-External market conditions determine the availability, terms and cost of reinsurance protection&#148;, below). Our current global life retention limit is US$30&nbsp;million for individual policies (US$35&nbsp;million for survivorship
life policies) and is shared across businesses. We apply lower limits in some markets and jurisdictions. We aim to further reduce exposure to claims concentrations by applying geographical aggregate retention limits for certain covers.
Enterprise-wide, we aim to reduce the likelihood of high aggregate claims by operating globally, insuring a wide range of unrelated risk events, and reinsuring some risks. We seek to actively manage the Company&#146;s aggregate exposure to each of
policyholder behaviour risk and claims risk against enterprise-wide economic capital limits. Policyholder behaviour risk limits cover the combined risk arising from policy lapses and surrenders, withdrawals and other policyholder driven activity.
The claims risk limits cover the combined risk arising from mortality, longevity and morbidity. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>52</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Internal experience studies, as well as trends in our experience and that of the industry, are monitored to update
current and projected claims and policyholder behaviour assumptions, resulting in updates to policy liabilities as appropriate. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Global
Wealth and Asset Management (&#147;Global WAM&#148;) Product Risk Management Strategy </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Global WAM product risk is governed by the Global WAM Risk Committee
which oversees the overall product risk management program for Global WAM. The Committee has established a broad framework for managing risk under a set of policies, standards and guidelines to ensure that our product offerings align with our
risk-taking philosophy and risk limits. The Global WAM product risk governance policy describes the requirements to be complied with for products/solutions with respect to stakeholder review, approval and post-launch monitoring. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Global WAM Risk Management also provides oversight and review of material changes to existing products/solutions on the various Global WAM platforms. Global WAM Risk
Management performs annual risk self-assessments of the product/solution activities of all Global WAM businesses. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Operational Risk
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Operational risk is the risk of loss resulting from inadequate or failed internal processes, systems failures, human-performance
failures or from external events. </B></FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Operational Risk Management Strategy </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our corporate governance practices, corporate values, and integrated enterprise-wide approach to managing risk set the foundation for mitigating operational risks. This
base is further strengthened by internal controls and systems, compensation programs, and seeking to hire and retain trained and competent people throughout the organization. We align compensation programs with business strategy, long-term
shareholder value and good governance practices, and we benchmark these compensation practices against peer companies. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have an enterprise operational risk
management framework that sets out the processes we use to identify, assess, manage, mitigate and report on significant operational risk exposures. Execution of our operational risk management strategy supports the drive towards a focus on the
effective management of our key global operational risks. We have an Operational Risk Committee, which is the main decision-making committee for all operational risk matters and which has oversight responsibility for operational risk strategy,
management and governance. We have enterprise-wide risk management programs for specific operational risks that could materially impact our ability to do business or impact our reputation. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Legal and Regulatory Risk Management Strategy </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Global Compliance oversees our regulatory compliance program and function, supported by designated Chief Compliance Officers in every Segment. The program is designed to
promote compliance with regulatory obligations worldwide and to assist in making the Company&#146;s employees aware of the laws and regulations that affect it, and the risks associated with failing to comply. Segment compliance groups monitor
emerging legal and regulatory issues and changes and prepare us to address new requirements. Global Compliance also independently assesses and monitors the effectiveness of a broad range of regulatory compliance processes and business practices
against potential legal, regulatory, fraud and reputation risks, and allows significant issues to be escalated and proactively mitigated. Among these processes and business practices are: privacy (i.e. handling of personal and other confidential
information), sales and marketing practices, sales compensation practices, asset management practices, fiduciary responsibilities, employment practices, underwriting and claims processing, product design, and regulatory filings. In addition, we have
policies, processes and controls in place to help protect the Company, our customers and other related third parties from acts of fraud and from risks associated with money laundering and terrorist financing. Audit Services, Global Compliance and
Segment compliance personnel periodically assess the effectiveness of the control environment. For further discussion of government regulation and legal proceedings, refer to &#147;Government Regulation&#148; in MFC&#146;s Annual Information Form
dated February&nbsp;13, 2019 and note 18 of the 2018 Annual Consolidated Financial Statements. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Business Continuity Risk Management Strategy
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have an enterprise-wide business continuity and disaster recovery program. This includes policies, plans and procedures that seek to minimize the
impact of natural or <FONT STYLE="white-space:nowrap">man-made</FONT> disasters, and is designed to ensure that key business functions can continue normal operations in the event of a major disruption. Each business unit is accountable for preparing
and maintaining detailed business continuity plans and processes. The global program incorporates periodic scenario analysis designed to validate the assessment of both critical and <FONT STYLE="white-space:nowrap">non-critical</FONT> units, as well
as the establishment and testing of appropriate business continuity plans for all critical functions. The business continuity team establishes and regularly tests crisis management plans and global crisis communications protocols. We maintain <FONT
STYLE="white-space:nowrap">off-site</FONT> backup facilities and failover capability designed to minimize downtime and accelerate system recovery. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>53</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Technology&nbsp;&amp; Information Security Risk Management Strategy </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our Technology Risk Management function provides strategy, direction, and oversight and facilitates governance for all technology risk domain activities across the
Company. The scope of this function includes: reducing information risk exposures by introducing a robust enterprise information risk management framework and supporting infrastructure for proactively identifying, managing, monitoring and reporting
on critical information risk exposures; promoting transparency and informed decision-making by building and maintaining information risk profiles and risk dashboards for Enterprise Technology&nbsp;&amp; Services and Segments aligned with enterprise
and operational risk reporting; providing advisory services to Global Technology and the Segments around current and emerging technology risks and their impact to the Company&#146;s information risk profile; and reducing vendor information risk
exposures by incorporating sound information risk management practices into sourcing, outsourcing and offshoring initiatives and programs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The enterprise-wide
information security program, which is overseen by the Chief Information Risk Officer, seeks to mitigate information security risks. This program establishes the information and cyber security framework for the Company, including governance,
policies and standards, and appropriate controls to protect information and computer systems. We also have annual security awareness training sessions for all employees. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Many jurisdictions in which we operate are implementing more stringent privacy legislation. Our global privacy program, overseen by our Chief Privacy Officer, seeks to
manage the risk of privacy breaches. It includes policies and standards, ongoing monitoring of emerging privacy legislation, and a network of privacy officers. Processes have been established to provide guidance on handling personal information and
for reporting privacy incidents and issues to appropriate management for response and resolution. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In addition, the Chief Information Risk Officer, the Chief Privacy
Officer, and their teams work closely on information security and privacy matters. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Human Resource Risk Management Strategy </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have a number of human resource policies, practices and programs in place that seek to manage the risks associated with attracting and retaining top talent. These
include recruiting programs at every level of the organization, training and development programs for our individual contributors and people leaders, employee engagement surveys, and competitive compensation programs that are designed to attract,
motivate and retain high-performing and high-potential employees. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Model Risk Management Strategy </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We have designated model risk management teams working closely with model owners and users that seek to manage model risk. Our model risk oversight program includes
processes intended to ensure that our critical business models are conceptually sound and used as intended, and to assess the appropriateness of the calculations and outputs. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Third-Party Risk Management Strategy </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our
governance framework to address third-party risk includes appropriate policies (such as our Global Outsourcing and Vendor Risk Management Policy and Global Procurement Policy), standards and procedures, and monitoring of ongoing results and
contractual compliance of third-party arrangements. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Project Risk Management Strategy </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">To seek to ensure that key projects are successfully implemented and monitored by management, we have a Global Project and Program Management Centre of Expertise, which
is responsible for establishing policies and standards for project management. Our policies, standards and practices are benchmarked against leading practices. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>54</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_11"></A>Capital Management Framework </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Manulife seeks to manage its capital with the objectives of: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Operating with sufficient capital to be able to honour all commitments to its policyholders and creditors with a high degree
of confidence; </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Retaining the ongoing confidence of regulators, policyholders, rating agencies, investors and other creditors in order to
ensure access to capital markets; and </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Optimizing return on capital to meet shareholders&#146; expectations subject to constraints and considerations of adequate
levels of capital established to meet the first two objectives. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Capital is managed and monitored in accordance with the Capital Management Policy.
The Policy is reviewed and approved by the Board of Directors annually and is integrated with the Company&#146;s risk and financial management frameworks. It establishes guidelines regarding the quantity and quality of capital, internal capital
mobility, and proactive management of ongoing and future capital requirements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our capital management framework takes into account the requirements of the Company as
a whole as well as the needs of each of our subsidiaries. Internal capital targets are set above regulatory requirements, and consider a number of factors, including expectations of regulators and rating agencies, results of sensitivity and stress
testing and our own risk assessments. We monitor against these internal targets and initiate actions appropriate to achieving our business objectives. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We
periodically assess the strength of our capital position under various stress scenarios. The annual Dynamic Capital Adequacy Testing (&#147;DCAT&#148;) typically quantifies the financial impact of economic events arising from shocks in public equity
and other markets, interest rates and credit, amongst others. Our 2018 DCAT results demonstrate that we would have sufficient assets, under the various adverse scenarios tested, to discharge our policy liabilities. This conclusion was also supported
by a variety of other stress tests conducted by the Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We use an Economic Capital (&#147;EC&#148;) framework to inform our internal view of the level of
required capital and available capital. The EC framework is a key component of the Own Risk and Solvency Assessment (&#147;ORSA&#148;) process, which ties together our risk management, strategic planning and capital management practices to confirm
that our capital levels continue to be adequate from an economic perspective. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Capital management is also integrated into our product planning and performance
management practices. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The composition of capital between equity and other capital instruments impacts the financial leverage ratio which is an important
consideration in determining the Company&#146;s financial strength and credit ratings. The Company monitors and rebalances its capital mix through capital issuances and redemptions. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Capital and Funding Activities </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">During 2018, we
raised a total of $0.9&nbsp;billion of capital in Canada and $0.9&nbsp;billion of securities matured or were redeemed. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table provides our funding
activity for the year ended December&nbsp;31, 2018. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="76%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">($ millions)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Issued</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Redeemed/Matured</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Preferred shares<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>250</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Subordinated debentures<SUP STYLE="font-size:85%; vertical-align:top">(2),(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>600</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>450</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Senior
debt<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>400</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;850</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;850</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">MFC issued 10&nbsp;million <FONT STYLE="white-space:nowrap">Non-cumulative</FONT>
<FONT STYLE="white-space:nowrap">5-Year</FONT> Rate Reset Class&nbsp;1 Shares, Series 25 (&#147;Series 25 Shares&#148;) for gross proceeds of $250&nbsp;million on February&nbsp;20, 2018. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">MFC issued $600&nbsp;million (3.317%) of subordinated debentures on May&nbsp;9, 2018. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">A total of $450&nbsp;million of MLI subordinated debentures were redeemed at par during the year: $200&nbsp;million
(2.819%) on February&nbsp;26, 2018 and $250&nbsp;million (2.926%) on November&nbsp;29, 2018. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">$400&nbsp;million MFC medium term notes (5.505%) matured on June&nbsp;26, 2018. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Normal Course Issuer Bid </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">On November&nbsp;12,
2018, MFC announced that the Toronto Stock Exchange (&#147;TSX&#148;) approved a normal course issuer bid (&#147;NCIB&#148;) permitting the purchase by MFC for cancellation of up to 40&nbsp;million MFC common shares. Pursuant to the Notice of
Intention filed with the TSX, purchases under the NCIB commenced on November&nbsp;14, 2018 and may continue until November&nbsp;13, 2019, when the NCIB expires, or such earlier date as MFC completes its purchases. During 2018, MFC purchased and
subsequently cancelled 23&nbsp;million of its common shares pursuant to the NCIB at an average price of $20.66 per common share for a total cost of $478&nbsp;million. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>55</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c">The following measure of capital reflects our capital management activities at the MFC level.
</FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,093</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">929</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">743</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Participating policyholders&#146; equity</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>94</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">221</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">248</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Preferred shares</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,822</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,577</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,577</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Common shareholders&#146; equity<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>42,142</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">37,436</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">38,255</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total equity</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>47,151</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,163</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,823</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjusted for accumulated other comprehensive loss on cash flow
hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(127</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(109</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(232</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total equity excluding accumulated other comprehensive loss on cash flow hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>47,278</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,272</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43,055</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Qualifying capital instruments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>8,732</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,387</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">7,180</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Consolidated capital</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;56,010</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;50,659</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;50,235</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Common shareholders&#146; equity is equal to total shareholders&#146; equity less preferred shares. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The &#147;Consolidated capital&#148; referred to in the table above does not include $4.8 billion (2017 &#150; $4.8&nbsp;billion, 2016 &#150; $5.7 billion) of senior
debt issued by MFC because this form of financing does not meet OSFI&#146;s definition of regulatory capital at the MFC level. The Company has down-streamed the proceeds from this financing into operating entities in a form that qualifies as
regulatory capital at the subsidiary level. For regulatory purposes, LICAT available capital is based on the above consolidated capital with adjustments for certain deductions, limits and restrictions, as mandated by the LICAT guideline. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Consolidated capital was $56.0 billion as at December 31, 2018 compared with $50.7 billion as at December 31, 2017, an increase of approximately $5.3 billion. The
increase from December 31, 2017 was primarily driven by net income attributed to shareholders net of dividends paid of $2.9 billion, net capital issuances of approximately $100 million consisting of net subordinated debt and preferred shares
issuances less the net impact of share buybacks and issuance of shares for the dividend reinvestment program (as senior debt is not included in the definition of capital, the $400 million of senior debt redeemed in 2018 did not impact the change in
capital), and the net increase in AOCI. The net increase in AOCI was due to a weaker Canadian dollar compared to the U.S. dollar, partially offset by the impact of higher interest rates and lower equity markets on assets classified as AFS. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Remittability of Capital </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As part of its
capital management, Manulife promotes internal capital mobility so that Manulife&#146;s parent company, MFC, has access to funds to meet its obligations and to optimize the use of excess capital. Cash remittance is defined as the cash remitted or
payable to the Group from operating subsidiaries and excess capital generated by stand-alone Canadian operations. It is one of the key metrics used by management to evaluate our financial flexibility. In 2018, MFC subsidiaries delivered
$4.0&nbsp;billion in remittances compared with $2.1&nbsp;billion in 2017. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Financial Leverage Ratio </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MFC&#146;s financial leverage ratio decreased to 28.6% as at December&nbsp;31, 2018 from 30.3% as at December&nbsp;31, 2017, driven by the increase of $5.0&nbsp;billion
in equity, supported by earnings and the impact of a weaker Canadian dollar compared with the U.S. dollar. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Common Shareholder Dividends
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The declaration and payment of shareholder dividends and the amount thereof are at the discretion of the Board of Directors and depend upon various
factors, including the results of operations, financial condition and future prospects of the Company and taking into account regulatory restrictions on the payment of shareholder dividends, as well as any other factors deemed relevant by the Board
of Directors. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Common Shareholder Dividends Paid </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:11.0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c">$ per share</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right"><B>2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">2016</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:11.0pt; font-size:8pt; font-family:ARIAL">Dividends paid</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>$</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><B>&nbsp;&nbsp;0.910</B></P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;0.820</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL">$</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">&nbsp;&nbsp;0.740</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company offers a Dividend Reinvestment Program (&#147;DRIP&#148;) whereby shareholders may elect to automatically reinvest dividends
in the form of MFC common shares instead of receiving cash. The offering of the program and its terms of execution are subject to the Board of Directors&#146; discretion. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In 2016, 2017 and for the first three quarters of 2018, common shares in connection with the DRIP were purchased on the open market with no applicable discount. For the
dividend paid on December&nbsp;19, 2018, the required common shares were purchased from treasury with a two per cent (2%) discount from the market price. In 2018, we issued 9.3&nbsp;million common shares from treasury for a total consideration of
$178&nbsp;million under this program. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Regulatory Capital Position</B><SUP STYLE="font-size:85%; vertical-align:top">1</SUP><B>
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MFC and MLI are regulated by OSFI and are subject to consolidated risk-based capital requirements. Manulife monitors and manages its consolidated capital
in compliance with the applicable OSFI guideline. The LICAT framework replaced the Minimum Continuing </P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The &#147;Risk Factors&#148; section of the MD&amp;A outlines a number of regulatory capital risks. </P></TD></TR></TABLE>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>56</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">
Capital and Surplus Requirements (&#147;MCCSR&#148;) framework on January&nbsp;1, 2018. Under both guidelines our consolidated available capital was/is measured against a required amount of risk
capital determined in accordance with the guideline; however, as a result of the major changes, the LICAT total ratios and MCCSR ratios are not directly comparable. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Manulife&#146;s operating activities are mostly conducted within MLI and its subsidiaries. MLI&#145;s LICAT total ratio was 143% as at December&nbsp;31, 2018, compared
with 129% as at March&nbsp;31, 2018 (there are no prior year comparatives as LICAT, OSFI&#146;s new capital regime, became effective in 2018). The 14% percentage point improvement from March&nbsp;31, 2018 was primarily driven by actions to release
capital in our North American legacy businesses, growth in retained earnings, and the favourable impact of the wider corporate spreads partially offset by the impact of lower equity markets. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MFC&#146;s LICAT total ratio was 132% as at December&nbsp;31, 2018 compared with 117% as at March&nbsp;31, 2018. The differences between the MLI and MFC ratios were
largely due to the $4.8 billion of MFC senior debt outstanding that, under OSFI rules, does not qualify as available capital at the MFC level. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The new LICAT
framework did not materially change the level of excess capital held by Manulife. The LICAT total ratios as at December&nbsp;31, 2018 resulted in excess capital of $23.3&nbsp;billion over OSFI&#146;s supervisory target ratio of 100% for MLI, and
$22.8&nbsp;billion over OSFI&#146;s regulatory minimum target ratio of 90% for MFC (no supervisory target is applicable to MFC). As at December&nbsp;31, 2018, all MLI&#146;s subsidiaries maintained capital levels in excess of local requirements.
</P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Credit Ratings </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Manulife&#146;s operating
companies have strong financial strength ratings from credit rating agencies. Maintaining strong ratings on debt and capital instruments issued by MFC and its subsidiaries allows us to access capital markets at competitive pricing levels. Ratings
are important factors in establishing the competitive position of insurance companies and maintaining public confidence in products being offered. Should these credit ratings decrease materially, our cost of financing may increase and our access to
funding and capital through capital markets could be reduced. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">During 2018, S&amp;P, Moody&#146;s, DBRS, Fitch and A.M. Best maintained their assigned ratings of MFC
and its primary insurance operating companies. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table summarizes the financial strength and claims paying ability ratings of MLI and certain of its
subsidiaries as at February 1, 2019. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Financial Strength Ratings</B><B> </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #1f320c; BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:7pt; font-family:ARIAL">S&amp;P</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:7pt; font-family:ARIAL">Moody&#146;s</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:7pt; font-family:ARIAL">DBRS</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:7pt; font-family:ARIAL">Fitch</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-TOP:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #1f320c; BORDER-RIGHT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c; padding-right:2pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:7pt; font-family:ARIAL">A.M.
Best</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:11.0pt; font-size:8pt; font-family:ARIAL">The Manufacturers Life Insurance Company</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>AA-</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>A1</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>AA(Low)</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>AA-</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>A+</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>(Superior)</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:11.0pt; font-size:8pt; font-family:ARIAL">John Hancock Life Insurance Company (U.S.A.)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>AA-</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>A1</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>AA-</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>A+</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>(Superior)</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:11.0pt; font-size:8pt; font-family:ARIAL">Manulife (International) Limited</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>AA-</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c; padding-right:2pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:11.0pt; font-size:8pt; font-family:ARIAL">Manulife Life Insurance Company</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>A+</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #1f320c; BORDER-BOTTOM:1px solid #1f320c; padding-right:2pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; line-height:11.0pt; font-size:8pt; font-family:ARIAL">Manulife (Singapore) Pte. Ltd.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>AA-</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #1f320c; BORDER-BOTTOM:1.00pt solid #1f320c; padding-right:2pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:11.0pt; font-size:8pt; font-family:ARIAL"><B>Not Rated</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at February&nbsp;1, 2019, S&amp;P, Moody&#146;s, DBRS, Fitch, and A.M. Best had a stable outlook on these ratings. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>57</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_12"></A>Critical Actuarial and Accounting Policies </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make judgments, estimates and&nbsp;assumptions that affect the
application of accounting policies and the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities as at the date of the Consolidated Financial Statements, and the reported amounts of revenue and expenses
during the reporting periods. Actual results may differ from these estimates. The most significant estimation processes relate to assumptions used in measuring insurance and investment contract liabilities, assessing assets for impairment,
determining of pension and other post-employment benefit obligation and expense assumptions, determining income taxes and uncertain tax positions and fair valuation of certain invested assets. Estimates and underlying assumptions are reviewed on an
ongoing basis. Revisions to accounting estimates are recognized in the year in which the estimates are revised and in any future years affected. Although some variability is inherent in these estimates, management believes that the amounts recorded
are appropriate. The significant accounting policies used and the most significant judgments made by management in applying these accounting policies in the preparation of the Consolidated Financial Statements are described in note 1 to the 2018
Annual Consolidated Financial Statements. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Policy Liabilities (Insurance and Investment Contract Liabilities) </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Policy liabilities for IFRS are valued in Canada under standards established by the Actuarial Standards Board. These standards are designed to ensure we establish an
appropriate liability on the Consolidated Statements of Financial Position to cover future obligations to all our policyholders. The assumptions underlying the valuation of policy liabilities are required to be reviewed and updated on an ongoing
basis to reflect recent and emerging trends in experience and changes in risk profile of the business. In conjunction with prudent business practices to manage both product and asset related risks, the selection and monitoring of appropriate
valuation assumptions is designed to minimize our exposure to measurement uncertainty related to policy liabilities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Policy liabilities have two major components: a
best estimate amount and a provision for adverse deviation. The best estimate amount represents the estimated value of future policyholder benefits and settlement obligations to be paid over the term remaining on
<FONT STYLE="white-space:nowrap">in-force</FONT> policies, including the costs of servicing the policies. The best estimate amount is reduced by the future expected policy revenues and future expected investment income on assets supporting the
policies, before any consideration for reinsurance ceded. To determine the best estimate amount, assumptions must be made for a number of key factors, including future mortality and morbidity rates, investment returns, rates of policy termination
and premium persistency, operating expenses, certain taxes (other than income taxes and includes temporary tax timing and permanent tax rate differences on the cash flows available to satisfy policy obligations) and foreign currency. Reinsurance is
used to transfer part or all of a policy liability to another insurance company at terms negotiated with that insurance company. A separate asset for reinsurance ceded is calculated based on the terms of the reinsurance treaties that are <FONT
STYLE="white-space:nowrap">in-force,</FONT> with deductions taken for the credit standing of the reinsurance counterparties where appropriate. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">To recognize the
uncertainty involved in determining the best estimate actuarial liability assumptions, a provision for adverse deviation (&#147;PfAD&#148;) is established. The PfAD is determined by including a margin of conservatism for each assumption to allow for
possible <FONT STYLE="white-space:nowrap">mis-estimation</FONT> of, or deterioration in, future experience in order to provide greater comfort that the policy liabilities will be sufficient to pay future benefits. The CIA establishes suggested
ranges for the level of margins for adverse deviation based on the risk profile of the business. Our margins are set taking into account the risk profile of our business. The effect of these margins is to increase policy liabilities over the best
estimate assumptions. The margins for adverse deviation decrease the income that is recognized at the time a new policy is sold and increase the income recognized in later periods as the margins release as the remaining policy risks reduce. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Best Estimate Assumptions </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We follow established
processes to determine the assumptions used in the valuation of our policy liabilities. The nature of each risk factor and the process for setting the assumptions used in the valuation are discussed below. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Mortality </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Mortality relates to the occurrence of
death. Mortality assumptions are based on our internal as well as industry past and emerging experience and are differentiated by sex, underwriting class, policy type and geographic market. We make assumptions about future mortality improvements
using historical experience derived from population data. Reinsurance is used to offset some of our direct mortality exposure on <FONT STYLE="white-space:nowrap">in-force</FONT> life insurance policies with the impact of the reinsurance directly
reflected in our policy valuation for the determination of policy liabilities net of reinsurance. Actual mortality experience is monitored against these assumptions separately for each business. The results are favourable where mortality rates are
lower than assumed for life insurance and where mortality rates are higher than assumed for payout annuities. Overall 2018 experience was favourable (2017 &#150; unfavourable) when compared with our assumptions. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Morbidity </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Morbidity relates to the occurrence of
accidents and sickness for the insured risks. Morbidity assumptions are based on our internal as well as industry past and emerging experience and are established for each type of morbidity risk and geographic market. For our JH Long Term Care
business we make assumptions about future morbidity changes. Actual morbidity experience is monitored against these assumptions separately for each business. Our morbidity risk exposure relates to future expected claims costs for long-term care
insurance, as well as for group benefits and certain individual health insurance products we offer. Overall 2018 experience was unfavourable (2017 &#150; unfavourable) when compared with our assumptions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>58</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Policy Termination and Premium Persistency </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Policy termination includes lapses and surrenders, where lapses represent the termination of policies due to <FONT STYLE="white-space:nowrap">non-payment</FONT> of
premiums and surrenders represent the voluntary termination of policies by policyholders. Premium persistency represents the level of ongoing deposits on contracts where there is policyholder discretion as to the amount and timing of deposits.
Policy termination and premium persistency assumptions are primarily based on our recent experience adjusted for expected future conditions. Assumptions reflect differences by type of contract within each geographic market and actual experience is
monitored against these assumptions separately for each business. Overall 2018 experience was unfavourable (2017 &#150; unfavourable) when compared with our assumptions. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Expenses and Taxes </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Operating expense assumptions
reflect the projected costs of maintaining and servicing <FONT STYLE="white-space:nowrap">in-force</FONT> policies, including associated overhead expenses. The expenses are derived from internal cost studies and are projected into the future with an
allowance for inflation. For some developing businesses, there is an expectation that unit costs will decline as these businesses mature. Actual expenses are monitored against assumptions separately for each business. Overall maintenance expenses
for 2018 were unfavourable (2017 &#150; unfavourable) when compared with our assumptions. Taxes reflect assumptions for future premium taxes and other <FONT STYLE="white-space:nowrap">non-income</FONT> related taxes. For income taxes, policy
liabilities are adjusted only for temporary tax timing and permanent tax rate differences on the cash flows available to satisfy policy obligations. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Investment Returns </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As noted in the &#147;Risk Management &#150; Market Risk &#150; Asset Liability Management Strategy&#148; section
above, our general fund product liabilities are categorized into groups with similar characteristics in order to support them with a specific asset strategy. We seek to align the asset strategy for each group to the premium and benefit pattern,
policyholder options and guarantees, and crediting rate strategies of the products they support. The projected cash flows from the assets are combined with projected cash flows from future asset purchases/sales to determine expected rates of return
for future years. The investment strategies for future asset purchases and sales are based on our target investment policies for each segment and the reinvestment returns are derived from current and projected market rates for fixed interest
investments and our projected outlook for <FONT STYLE="white-space:nowrap">non-fixed</FONT> interest assets. Credit losses are projected based on our own and industry experience, as well as specific reviews of the current investment portfolio.
Investment return assumptions for each asset class also incorporate expected investment management expenses that are derived from internal cost studies. In 2018, actual investment returns were favourable (2017 &#150; favourable) when compared with
our assumptions. Investment-related experience and the direct impact of interest rates and equity markets are discussed in the &#147;Financial Performance&#148; section above. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Segregated Funds </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We offer segregated funds to
policyholders that offer certain guarantees, including guaranteed returns of principal on maturity or death, as well as guarantees of minimum withdrawal amounts or income benefits. The <FONT STYLE="white-space:nowrap">on-balance</FONT> sheet
liability for these benefits is the expected cost of these guarantees including appropriate valuation margins for the various contingencies including mortality and lapse. The dominant driver of the cost of guarantees is the return on the underlying
funds in which the policyholders invest. See &#147;Risk Management &#150; Market Risk &#150; Hedging Strategies for Variable Annuity and Other Equity Risks&#148; and the &#147;Financial Performance &#150; Analysis of Net Income&#148; sections above.
</P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Foreign Currency </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Foreign currency risk
results from a mismatch of the currency of the policy liabilities and the currency of the assets designated to support these obligations. We generally match the currency of our assets with the currency of the liabilities they support, with the
objective of mitigating the risk of economic loss arising from movements in currency exchange rates. Where a currency mismatch exists, the assumed rate of return on the assets supporting the liabilities is reduced to reflect the potential for
adverse movements in exchange rates. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Experience Adjusted Products </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Where policies have features that allow the impact of changes in experience to be passed on to policyholders through policy dividends, experience rating refunds, credited
rates or other adjustable features, the projected policyholder benefits are adjusted to reflect the projected experience. Minimum contractual guarantees and other market considerations are taken into account in determining the policy adjustments.
</P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Provision for Adverse Deviation </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The total
provision for adverse deviation is the sum of the provisions for adverse deviation for each risk factor. Margins for adverse deviation are established by product type and geographic market for each assumption or factor used in the determination of
the best estimate actuarial liability. The margins are established based on the risk characteristics of the business being valued. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Margins for interest rate risk are
included by testing a number of scenarios of future interest rates. The margin can be established by testing a limited number of scenarios, some of which are prescribed by Canadian Actuarial Standards of Practice, and determining the liability based
on the worst outcome. Alternatively, the margin can be set by testing many scenarios, which are developed according to actuarial guidance. Under this approach the liability would be the average of the outcomes above a percentile in the range
prescribed by the Canadian Actuarial Standards of Practice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>59</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In addition to the explicit margin for adverse deviation, the valuation basis for segregated fund liabilities
explicitly limits the future revenue recognition in the valuation basis to the amount necessary to offset acquisition expenses, after allowing for the cost of any guarantee features. The fees that are in excess of this limitation are reported as an
additional margin and are shown in segregated fund <FONT STYLE="white-space:nowrap">non-capitalized</FONT> margins. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The provision for adverse deviation and the
future revenue deferred in the valuation due to the limitations on recognition of future revenue in the valuation of segregated fund liabilities are shown in the table below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Best estimate actuarial liability</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;226,128</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;219,347</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Provision for adverse deviation (&#147;PfAD&#148;)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Insurance risks (mortality/morbidity)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,021</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19,258</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Policyholder behaviour (lapse/surrender/premium persistency)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,776</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,332</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Expenses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,573</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,519</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Investment risks <FONT STYLE="white-space:nowrap">(non-credit)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>25,955</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,979</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Investment risks (credit)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>941</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,024</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Segregated funds guarantees</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,184</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,282</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total PfAD</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>55,450</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52,394</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds &#150; additional margins</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,097</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">14,464</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total of PfAD and additional segregated fund
margins</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>68,547</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">66,858</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Reported net actuarial liabilities (excluding the $5,514 million (2017 &#150; $5,300 million) reinsurance asset related to
the Company&#146;s <FONT STYLE="white-space:nowrap">in-force</FONT> participating life insurance closed block that is retained on a funds withheld basis as part of the New York Life transaction) as at December&nbsp;31, 2018 of $281,578 million (2017
&#150; $271,741&nbsp;million) are comprised of $226,128 million (2017 &#150; $219,347 million) of best estimate actuarial liabilities and $55,450 million (2017 &#150; $52,394 million) of PfAD. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The change in the PfAD from period to period is impacted by changes in liability and asset composition, by currency and interest rate movements and by material changes in
valuation assumptions. The overall decrease in PfADs for insurance risks was primarily due to the impact of higher interest rates in the U.S., as well as the impact from reinsurance on our North American legacy businesses, partially offset by the
impact of changes in currency rates (the depreciation of the Canadian dollar against the U.S. dollar, Hong Kong dollar and Japanese yen) and by the expected PfAD growth from in-force and new business. The overall increase in PfADs for policyholder
behaviour was driven by currency and by the expected PfAD growth from in-force and new business. The overall increase in PfADs for non-credit investment risks was driven by currency, the expected PfAD growth from in-force and new business, and by
the annual review of actuarial valuation methods and assumptions, partially offset by the impact from normal rebalancing as part of our interest rate hedging program and the impact of higher interest rates in the U.S. The increase in the additional
segregated fund margins was primarily due to decreases in equity markets and increases in interest rates in the U.S. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Sensitivity of
Earnings to Changes in Assumptions </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">When the assumptions underlying our determination of policy liabilities are updated to reflect recent and emerging
experience or change in outlook, the result is a change in the value of policy liabilities which in turn affects net income attributed to shareholders. The sensitivity of net income attributed to shareholders to changes in <FONT
STYLE="white-space:nowrap">non-economic</FONT> and certain asset related assumptions underlying policy liabilities is shown below and assumes that there is a simultaneous change in the assumptions across all business units. The sensitivity of net
income attributed to shareholders to a deterioration or improvement in <FONT STYLE="white-space:nowrap">non-economic</FONT> assumptions underlying long-term care policy liabilities as at December&nbsp;31, 2018 is also shown below. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">For changes in asset related assumptions, the sensitivity is shown net of the corresponding impact on income of the change in the value of the assets supporting
liabilities. In practice, experience for each assumption will frequently vary by geographic market and business, and assumption updates are made on a business/geographic specific basis. Actual results can differ materially from these estimates for a
variety of reasons including the interaction among these factors when more than one changes, changes in actuarial and investment return and future investment activity assumptions, actual experience differing from the assumptions, changes in business
mix, effective tax rates and other market factors, and the general limitations of our internal models. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Potential impact on net income
attributed to shareholders arising from changes to <FONT STYLE="white-space:nowrap">non-economic</FONT> assumptions</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B> </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Decrease&nbsp;in&nbsp;net&nbsp;income<BR>attributed&nbsp;to shareholders</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Policy related assumptions</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">2% adverse change in future mortality
rates<SUP STYLE="font-size:85%; vertical-align:top">(2),(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Products where an increase in rates increases insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(400</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Products where a decrease in rates increases insurance contract liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(500</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5% adverse change in future morbidity rates (incidence and termination)<SUP
STYLE="font-size:85%; vertical-align:top">(3),(4),(5)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(4,800</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;(5,100</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">10% adverse change in future termination
rates<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,200</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,100</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5% increase in future expense levels</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(600</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(500</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The participating policy funds are largely self-supporting and generate no material impact on net income attributed to
shareholders as a result of changes in <FONT STYLE="white-space:nowrap">non-economic</FONT> assumptions. Experience gains or losses would generally result in changes to future dividends, with no direct impact to shareholders. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>60</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">An increase in mortality rates will generally increase policy liabilities for life insurance contracts whereas a decrease
in mortality rates will generally increase policy liabilities for policies with longevity risk such as payout annuities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">No amounts related to morbidity risk are included for policies where the policy liability provides only for claims costs
expected over a short period, generally less than one year, such as Group Life and Health. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The impacts of the sensitivities on LTC for morbidity, mortality and lapse do not assume any partial offsets from the
Company&#146;s ability to contractually raise premium rates in such events, subject to state regulatory approval. In practice, we would plan to file for rate increases equal to the amount of deterioration resulting from the sensitivity.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This includes a 5% deterioration in incidence rates and 5% deterioration in claim termination rates.
</P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Potential impact on net income attributed to shareholders arising from changes to
<FONT STYLE="white-space:nowrap">non-economic</FONT> assumptions for Long Term Care</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B> </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31, 2018</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Decrease&nbsp;in&nbsp;net<BR>income&nbsp;attributed<BR>to shareholders</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Policy related assumptions</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">2% change in future mortality rates<SUP STYLE="font-size:85%; vertical-align:top">(2),(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(200</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5% change in future morbidity incidence
rates<SUP STYLE="font-size:85%; vertical-align:top">(2),(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(1,700</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5% change in future morbidity claims termination
rates<SUP STYLE="font-size:85%; vertical-align:top">(2),(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,800</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">10% change in future policy termination
rates<SUP STYLE="font-size:85%; vertical-align:top">(2),(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(400</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">5% increase in future expense levels<SUP
STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;&nbsp;&nbsp;&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Translated from US$ at 1.3642 for 2018. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The impacts of the sensitivities on LTC for morbidity, mortality and lapse do not assume any partial offsets from the
Company&#146;s ability to contractually raise premium rates in such events, subject to state regulatory approval. In practice, we would plan to file for rate increases equal to the amount of deterioration resulting from the sensitivity.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The impact of favourable changes to all the sensitivities is relatively symmetrical. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Potential impact on net income attributed to shareholders arising from changes to asset related assumptions supporting actuarial liabilities</B><SUP
STYLE="font-size:85%; vertical-align:top"></SUP></FONT><FONT STYLE="font-family:ARIAL; font-size:6pt" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B> </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="70%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="3" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="16" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Increase (decrease) in net income attributed to<BR>shareholders</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Increase</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Decrease</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Increase</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Decrease</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Asset related assumptions updated periodically in valuation basis changes</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">100 basis point change in future annual returns for public equities<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">400</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(400</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">100 basis point change in future annual returns for
ALDA<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;3,500</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(3,900</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,600</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;(4,100</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">100 basis point change in equity volatility assumption for
stochastic segregated fund modelling</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(300</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>300</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(200</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">200</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The sensitivity to public equity returns above includes the impact on both segregated fund guarantee reserves and on other
policy liabilities. Expected long-term annual market growth assumptions for public equities are based on long-term historical observed experience and compliance with actuarial standards. As at December&nbsp;31, 2018, the growth rates inclusive of
dividends in the major markets used in the stochastic valuation models for valuing segregated fund guarantees are 9.3% (9.3% &#150; December&nbsp;31, 2017) per annum in Canada, 9.6% (9.6% &#150; December 31, 2017) per annum in the U.S. and 6.2%
(6.2% &#150; December 31, 2017) per annum in Japan. Growth assumptions for European equity funds are market-specific and vary between 8.3% and 9.9%. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">ALDA include commercial real estate, timber, farmland, direct oil and gas properties, and private equities, some of which
relate to oil and gas. Expected long-term return assumptions for ALDA and public equity are set in accordance with the Standards of Practice for the valuation of insurance contract liabilities and guidance published by the CIA. Annual best estimate
return assumptions for ALDA and public equity include market growth rates and annual income, such as rent, production proceeds and dividends, and will vary based on our holding period. Over a <FONT STYLE="white-space:nowrap">20-year</FONT> horizon,
our best estimate return assumptions range between 5.25% and 11.65%, with an average of 9.5% based on the current asset mix backing our guaranteed insurance and annuity business as of December&nbsp;31, 2018 (9.5% &#150; December&nbsp;31, 2017),
adjusted to reflect our decision to reduce the allocation to ALDA in the portfolio asset mix supporting our North American legacy businesses as of December&nbsp;31, 2018. Our return assumptions including the margins for adverse deviations in our
valuation, which take into account the uncertainty of achieving the returns, range between 2.5% and 7.5%, with an average of 6.3% based on the asset mix backing our guaranteed insurance and annuity business as of December&nbsp;31, 2018 (6.3% &#150;
December&nbsp;31, 2017), adjusted to reflect our decision to reduce the allocation to ALDA in the portfolio asset mix supporting our North American legacy businesses. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Volatility assumptions for public equities are based on long-term historical observed experience and compliance with
actuarial standards. The resulting volatility assumptions are 16.95% per annum in Canada and 17.15% per annum in the U.S. for large cap public equities, and 19.25% per annum in Japan. For European equity funds, the volatility varies between 16.5%
and 18.4%. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Review of Actuarial Methods and Assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A comprehensive review of actuarial methods and assumptions is performed annually. The review is designed to reduce the Company&#146;s exposure to uncertainty by ensuring
assumptions for both asset related and liability related risks remain appropriate. This is accomplished by monitoring experience and selecting assumptions which represent a current best estimate view of expected future experience, and margins that
are appropriate for the risks assumed. While the assumptions selected represent the Company&#146;s current best estimates and assessment of risk, the ongoing monitoring of experience and changes in the economic environment are likely to result in
future changes to the actuarial assumptions, which could be material. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>61</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>2018 Review of Actuarial Methods and Assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The 2018 full year review of actuarial methods and assumptions resulted in a decrease in insurance contract liabilities of $174&nbsp;million, net of reinsurance, and a
decrease in net income attributed to shareholders of $51&nbsp;million <FONT STYLE="white-space:nowrap">post-tax.</FONT> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="57%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
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<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
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<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; line-height:12.0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">Change&nbsp;in&nbsp;insurance&nbsp;contract&nbsp;liabilities,&nbsp;net&nbsp;of&nbsp;reinsurance</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;&nbsp;&nbsp;Total&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Attributed to<BR>participating<BR>policyholders&#146;<BR>account</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;&nbsp;&nbsp;&nbsp;Attributed&nbsp;to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>&nbsp;&nbsp;&nbsp;&nbsp;shareholders&#146;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;<BR>&nbsp;&nbsp;&nbsp;&nbsp;account&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Change&nbsp;in&nbsp;net<BR>income&nbsp;attributed<BR>to shareholders</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortality and morbidity updates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>319&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(192</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;511&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(360</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Lapses and policyholder behaviour</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>287&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>287&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(226</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment return assumptions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(96)&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(146)&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;143</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other updates</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(684)&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(94</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(590)&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>392</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net impact</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;(174)&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(236</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>62&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(51</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to mortality and morbidity assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Mortality and morbidity updates resulted in a $360&nbsp;million <FONT STYLE="white-space:nowrap">post-tax</FONT> charge to net income attributed to shareholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The primary driver of the charge is related to updates to mortality and morbidity assumptions for the Company&#146;s structured settlement and term renewal business in
Canada. A review of mortality assumptions for the Company&#146;s U.S. group pension annuity business and certain blocks of its U.S. life insurance business resulted in a small charge to earnings, and other updates to mortality and morbidity
assumptions led to a small net charge. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to lapses and policyholder behaviour </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Lapse and policyholder behaviour updates resulted in a $226&nbsp;million <FONT STYLE="white-space:nowrap">post-tax</FONT> charge to net income attributed to shareholders.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The primary driver of the charge is related to updated lapse and premium persistency rates for certain U.S. life insurance product lines ($252&nbsp;million <FONT
STYLE="white-space:nowrap">post-tax</FONT> charge). This included updates to universal life <FONT STYLE="white-space:nowrap">no-lapse</FONT> guarantee and business lapse assumptions to better reflect emerging experience which showed a variation in
lapses based on premium funding levels, partially offset by favourable lapse experience on several of the U.S. life insurance product lines. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other updates to lapse
and policyholder behaviour assumptions were made across several product lines to reflect recent experience. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to investment return
assumptions </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Investment return assumption updates resulted in a $143&nbsp;million <FONT STYLE="white-space:nowrap">post-tax</FONT> gain to net income
attributed to shareholders. We updated our bond default rates to reflect recent experience, leading to a $401&nbsp;million <FONT STYLE="white-space:nowrap">post-tax</FONT> gain and updated our investment return assumptions for ALDA and public
equities, specifically oil and gas, which led to a $210&nbsp;million <FONT STYLE="white-space:nowrap">post-tax</FONT> charge. Other refinements to the projections of investment returns resulted in a $48&nbsp;million
<FONT STYLE="white-space:nowrap">post-tax</FONT> charge. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Other updates </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Refinements to the projection of our tax and liability cashflows across multiple product lines led to a <FONT STYLE="white-space:nowrap">post-tax</FONT> gain to net
income attributed to shareholders of $392&nbsp;million. The refinements were primarily driven by the projection of tax cashflows as we reviewed the deductibility of certain reserves. In addition, we refined the projection of policyholder crediting
rates for certain products. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Impact of changes in actuarial methods and assumptions by segment </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The impact of changes in actuarial methods and assumptions in Canada was a <FONT STYLE="white-space:nowrap">post-tax</FONT> charge to net income attributed to
shareholders of $370&nbsp;million. This charge was driven by updates to oil&nbsp;&amp; gas investment return assumptions and updates to mortality and morbidity assumptions for our structured settlement and term renewal businesses. In the U.S., we
recorded a <FONT STYLE="white-space:nowrap">post-tax</FONT> gain of $286&nbsp;million, driven by updates to our bond default rates and refinements to the projection of our tax and liability cashflows, partially offset by updates to policyholder
behaviour assumptions in JH Life. Updates to assumptions in Asia and Reinsurance resulted in a <FONT STYLE="white-space:nowrap">post-tax</FONT> gain of $33&nbsp;million. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>62</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>2017 Review of Actuarial Methods and Assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The 2017 full year review of actuarial methods and assumptions resulted in an increase in insurance and investment contract liabilities of $277&nbsp;million, net of
reinsurance, and a decrease in net income attributed to shareholders of $35&nbsp;million. These charges exclude the impacts of U.S. Tax Reform and the decision to reduce the allocation to ALDA in the portfolio asset mix supporting our North American
legacy businesses. These two items resulted in a <FONT STYLE="white-space:nowrap">post-tax</FONT> increase in policy liabilities and total charge to net income attributed to shareholders in 4Q17 of $2.8&nbsp;billion. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" ROWSPAN="2" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #1f320c">Change&nbsp;in&nbsp;insurance&nbsp;contract&nbsp;liabilities,&nbsp;net<BR>of reinsurance</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Attributed to<BR>participating<BR>policyholders&#146;<BR>account</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Attributed to<BR>shareholders&#146;<BR>account</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Change&nbsp;in&nbsp;net<BR>income&nbsp;attributed<BR>to shareholders</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mortality and morbidity updates</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(254</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(263</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">299</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Lapses and policyholder behaviour</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;1,019</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;1,019</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(783</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other updates:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">ALDA and public equity investment return assumptions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,296</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,291</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(892</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Corporate spread assumptions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(515</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(514</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;344</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Refinements to liability and tax cash flows</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,049</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,049</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">696</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(220</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(304</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">301</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net impact</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">277</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">180</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(35</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to mortality and morbidity assumptions </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Mortality and morbidity updates resulted in a $299&nbsp;million benefit to net income attributed to shareholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We completed a detailed review of the mortality assumptions for our U.S. life insurance business which resulted in a $384&nbsp;million charge to net income attributed to
shareholders. We increased assumptions particularly at older ages, reflecting both industry and our own experience. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Updates to actuarial standards related to future
mortality improvement, and the review of mortality improvement assumptions globally, resulted in a $264&nbsp;million benefit to net income attributed to shareholders primarily in Canada and Asia. The updated actuarial standards include a
diversification benefit for the determination of margins for adverse deviation which recognizes the offsetting impact of longevity and mortality risk. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We completed a
detailed review of the mortality assumptions for our Canadian retail insurance business which resulted in a $222&nbsp;million benefit to net income attributed to shareholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other updates to mortality and morbidity assumptions led to a $197&nbsp;million benefit to net income attributed to shareholders. These updates included a reduction in
the margins for adverse deviation applied to our morbidity assumptions for certain medical insurance products in Japan. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Updates to lapses
and policyholder behaviour </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Updates to lapses and policyholder behaviour assumptions resulted in a $783&nbsp;million charge to net income attributed to
shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In Canadian retail insurance, lapse assumptions were reduced for certain universal life products to reflect recent experience leading to a
$315&nbsp;million charge to net income attributed to shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">For Canadian segregated fund guaranteed minimum withdrawal benefit lapses, incidence and
utilization assumptions were updated to reflect recent experience which led to a $242&nbsp;million charge to net income attributed to shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other updates to
lapse and policyholder behaviour assumptions were made across several product lines including reduction in lapse assumptions for our whole life insurance products in Japan, leading to a $226&nbsp;million charge to net income attributed to
shareholders. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Other updates </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other updates
resulted in a $449&nbsp;million benefit to net income attributed to shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We reviewed our investment return assumptions for ALDA and public equities, which
in aggregate led to a reduction in return assumptions and a $892&nbsp;million charge to net income attributed to shareholders. We also reviewed future corporate spread assumptions, which led to a $344&nbsp;million benefit to net income attributed to
shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Refinements to the projection of our liability and tax cash flows in the U.S. resulted in a $696&nbsp;million benefit to net income attributed to
shareholders. These changes included refinements to the projection of policyholder crediting rates for certain universal life insurance products. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Other refinements
resulted in a $301&nbsp;million benefit to net income attributed to shareholders. These changes included a review of provisions for reinsurance counterparty credit risk and several other refinements to the projection of both our asset and liability
cash flows. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>63</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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<p Style='page-break-before:always'>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Impact of changes in actuarial methods and assumptions by segment </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The impact of changes in actuarial methods and assumptions in Asia, Canada, the U.S., and Corporate and Other was a <FONT STYLE="white-space:nowrap">post-tax</FONT>
gain/(charge) to net income attributed to shareholders of $166&nbsp;million, $36&nbsp;million, $(245) million, and $8&nbsp;million, respectively. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT
 COLOR="#2a517f"><B>Change in net insurance contract liabilities </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The change in net insurance contract liabilities can be attributed to several sources:
new business, acquisitions, <FONT STYLE="white-space:nowrap">in-force</FONT> movement and currency impact. Changes in net insurance contract liabilities are substantially offset in the financial statements by premiums, investment income, policy
benefits and other policy related cash flows. The changes in net insurance contract liabilities by business segment are shown below: </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>2018
Net Insurance Contract Liability Movement Analysis </B></FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2018</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Asia</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">U.S.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Corporate<BR>and<BR>Other</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, January&nbsp;1</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;62,243</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;76,198</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>135,851</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(46</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>274,246</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">New business<SUP STYLE="font-size:85%; vertical-align:top">(1),(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,400</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(100</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(31</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,269</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">In-force</FONT>
movement<SUP STYLE="font-size:85%; vertical-align:top">(1),(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,117</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>344</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(2,330</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(102</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,029</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in methods and assumptions<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>52</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>178</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(397</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(7</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(174</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reinsurance transactions<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(11,156</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(11,156</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Currency
impact<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>5,315</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>11,205</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(13</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>16,515</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>76,127</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>76,628</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;133,142</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;(168</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;285,729</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The $6,826 million increase reported as the change in insurance contract liabilities and change in reinsurance assets on
the 2018 Consolidated Statements of Income primarily consists of changes due to the reinsurance transactions and changes in methods and assumptions, partially offset by normal in-force movement and new policies. These 4 items net to a decrease of
$5,032 million, of which $6,017 million is included in the income statement increase in insurance contract liabilities and change in reinsurance assets, and a $985 million increase is included in net claims and benefits. The Consolidated Statements
of Income change in insurance contract liabilities also includes the change in embedded derivatives associated with insurance contracts. Of the $6,708 million net increase in insurance contract liabilities related to new business and in-force
movement, $5,723 million was an increase in actuarial liabilities. The remaining amount was an increase of $985 million in other insurance contract liabilities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">New business policy liability impact is positive/(negative) when estimated future premiums, together with future
investment income, are expected to be more/(less) than sufficient to pay estimated future benefits, policyholder dividends and refunds, taxes (excluding income taxes) and expenses on new policies issued. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The net in-force movement over the year was an increase of $3,029 million, reflecting expected growth in insurance
contract liabilities in all three insurance segments. Expected growth in insurance contract liabilities in the U.S. was offset by the impact of market and yield curve movements during the year. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The increase in policy liabilities from currency impact reflects the depreciation of the Canadian dollar relative to the
U.S. dollar, Hong Kong dollar and Japanese yen. To the extent assets are currency matched to liabilities, the increase in insurance contract liabilities due to currency impact is offset by a corresponding increase from currency impact in the value
of assets supporting those liabilities. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>2017 Net Insurance Contract Liability Movement Analysis </B></FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the year ended December&nbsp;31, 2017</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Asia</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Canada</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">U.S.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Corporate<BR>and<BR>Other</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Balance, January&nbsp;1</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;54,567</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;73,384</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">135,192</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(590</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">262,553</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">New business<SUP STYLE="font-size:85%; vertical-align:top">(1),(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,276</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">In-force</FONT>
movement<SUP STYLE="font-size:85%; vertical-align:top">(1),(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,255</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,304</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,329</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">234</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Changes in methods and assumptions<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(21</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(91</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">119</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">270</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">277</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact of U.S. Tax Reform<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Increase due to decision to change portfolio asset mix supporting our legacy businesses<SUP
STYLE="font-size:85%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">468</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">872</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,340</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Currency
impact<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2,688</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(9,183</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(11,837</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Balance, December&nbsp;31</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">62,243</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">76,198</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;135,851</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;(46)</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;274,246</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The $22,292&nbsp;million increase reported as the change in insurance contract liabilities and change in reinsurance
assets on the 2017 Consolidated Statements of Income primarily consists of changes due to normal <FONT STYLE="white-space:nowrap">in-force</FONT> movement, new policies, changes in methods and assumptions, the impact of U.S. Tax Reform and the
increase due to the decision to change portfolio asset mix supporting our North American legacy businesses. These 5 items net to an increase of $23,530&nbsp;million, of which $22,628&nbsp;million is included in the income statement increase in
insurance contract liabilities and change in reinsurance assets, and $902&nbsp;million is included in net claims and benefits. The Consolidated Statements of Income change in insurance contract liabilities also includes the change in embedded
derivatives associated with insurance contracts. Of the $19,667&nbsp;million net increase in insurance contract liabilities related to new business and <FONT STYLE="white-space:nowrap">in-force</FONT> movement, $18,737&nbsp;million was an increase
in actuarial liabilities. The remaining amount was an increase of $930&nbsp;million in other insurance contract liabilities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">New business policy liability impact is positive/(negative) when estimated future premiums, together with future
investment income, are expected to be more/(less) than sufficient to pay estimated future benefits, policyholder dividends and refunds, taxes (excluding income taxes) and expenses on new policies issued. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The net <FONT STYLE="white-space:nowrap">in-force</FONT> movement over the year was an increase of $16,122&nbsp;million,
reflecting expected growth in insurance contract liabilities in all three segments. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">U.S. Tax Reform, which includes the lowering of the U.S. corporate tax rate from 35% to 21% and limits on the tax
deductibility of reserves, resulted in a $2,246&nbsp;million <FONT STYLE="white-space:nowrap">pre-tax</FONT> ($1,774&nbsp;million <FONT STYLE="white-space:nowrap">post-tax)</FONT> increase in policy liabilities due to the impact of temporary tax
timing and permanent tax rate differences on the cash flows available to satisfy policyholder obligations. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The decision to reduce the allocation to ALDA in the portfolio asset mix supporting our North American legacy businesses
resulted in an increase in policy liabilities due to the impact on future expected investment income on assets supporting the policies. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The decrease in policy liabilities from currency impact reflects the appreciation of the Canadian dollar relative to the
U.S. dollar, Hong Kong dollar and Japanese yen. To the extent assets are currency matched to liabilities, the increase in insurance contract liabilities due to currency impact is offset by a corresponding increase from currency impact in the value
of assets supporting those liabilities. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>64</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Critical Accounting Policies </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidation </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company is required to
consolidate the financial position and results of entities it controls. Control exists when the Company: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Has the power to govern the financial and operating policies of the entity; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Is exposed to a significant portion of the entity&#146;s variable returns; and </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Is able to use its power to influence variable returns from the entity. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company uses the same principles to assess control over any entity it is involved with. In evaluating control, potential factors assessed include the effects of: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Substantive potential voting rights that are currently exercisable or convertible; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Contractual management relationships with the entity; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Rights and obligations resulting from policyholders to manage investments on their behalf; and </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The effect of any legal or contractual restraints on the Company from using its power to affect its variable returns from
the entity. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">An assessment of control is based on arrangements in place and the assessed risk exposures at inception. Initial evaluations are
reconsidered at a later date if: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company acquires additional interests in the entity or its interests in an entity are diluted; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The contractual arrangements of the entity are amended such that the Company&#146;s involvement with the entity changes; or
</P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company&#146;s ability to use its power to affect its variable returns from the entity changes. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Subsidiaries are consolidated from the date on which control is obtained by the Company and cease to be consolidated from the date that control ceases. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Fair Value of Invested Assets </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A large portion of
the Company&#146;s invested assets are recorded at fair value. Refer to note 1 of the 2018 Annual Consolidated Financial Statements for a description of the methods used in determining fair values. When quoted prices in active markets are not
available for a particular investment, significant judgment is required to determine an estimated fair value based on market standard valuation methodologies including discounted cash flow methodologies, matrix pricing, consensus pricing services,
or other similar techniques. The inputs to these market standard valuation methodologies include: current interest rates or yields for similar instruments, credit rating of the issuer or counterparty, industry sector of the issuer, coupon rate, call
provisions, sinking fund requirements, tenor (or expected tenor) of the instrument, management&#146;s assumptions regarding liquidity, volatilities and estimated future cash flows. Accordingly, the estimated fair values are based on available market
information and management&#146;s judgments about the key market factors impacting these financial instruments. Financial markets are susceptible to severe events evidenced by rapid depreciation in asset values accompanied by a reduction in asset
liquidity. The Company&#146;s ability to sell assets, or the price ultimately realized for these assets, depends upon the demand and liquidity in the market and increases the use of judgment in determining the estimated fair value of certain assets.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Evaluation of Invested Asset Impairment </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">AFS
fixed income and equity securities are carried at fair market value, with changes in fair value recorded in other comprehensive income (&#147;OCI&#148;) with the exception of unrealized gains and losses on foreign currency translation of AFS fixed
income securities which are included in net income attributed to shareholders. Securities are reviewed on a regular basis and any fair value decrement is transferred out of accumulated other comprehensive income (&#147;AOCI&#148;) and recorded in
net income attributed to shareholders when it is deemed probable that the Company will not be able to collect all amounts due according to the contractual terms of a fixed income security or when fair value of an equity security has declined
significantly below cost or for a prolonged period of time. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Provisions for impairments of mortgage loans and private placement loans are recorded with losses
reported in earnings when there is no longer reasonable assurance as to the timely collection of the full amount of the principal and interest. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Significant judgment
is required in assessing whether an impairment has occurred and in assessing fair values and recoverable values. Key matters considered include economic factors, Company and industry specific developments, and specific issues with respect to single
issuers and borrowers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Changes in circumstances may cause future assessments of asset impairment to be materially different from current assessments, which could
require additional provisions for impairment. Additional information on the process and methodology for determining the allowance for credit losses is included in the discussion of credit risk in note 9 to the 2018 Consolidated Financial Statements.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Derivative Financial Instruments </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company
uses derivative financial instruments (&#147;derivatives&#148;) including swaps, forwards and futures agreements, and options to help manage current and anticipated exposures to changes in interest rates, foreign exchange rates, commodity prices and
equity market prices, and to replicate permissible investments. Refer to note 4 to the 2018 Consolidated Financial Statements for a description of the methods used to determine the fair value of derivatives. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The accounting for derivatives is complex and interpretations of the primary accounting guidance continue to evolve in practice. Judgment is applied in determining the
availability and application of hedge accounting designations and the appropriate accounting treatment under such accounting guidance. Differences in judgment as to the availability and application of hedge accounting
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>65</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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designations and the appropriate accounting treatment may result in a differing impact on the Consolidated Financial Statements of the Company from that previously reported. Assessments of hedge
effectiveness and measurements of ineffectiveness of hedging relationships are also subject to interpretations and estimations. If it was determined that hedge accounting designations were not appropriately applied, reported net income attributed to
shareholders could be materially affected. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Employee Future Benefits </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company maintains defined contribution and defined benefit pension plans and other post-employment plans for employees and agents, including registered (tax
qualified) pension plans that are typically funded, as well as supplemental <FONT STYLE="white-space:nowrap">non-registered</FONT> <FONT STYLE="white-space:nowrap">(non-qualified)</FONT> pension plans for executives, retiree welfare plans and
disability welfare plans that are typically not funded. The largest defined benefit pension and retiree welfare plans in the U.S. and Canada are the material plans that are discussed herein and in note 16 to the 2018 AnnualConsolidated Financial
Statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Due to the long-term nature of defined benefit pension and retiree welfare plans, the calculation of the defined benefit obligation and net benefit cost
depends on various assumptions such as discount rates, salary increase rates, cash balance interest crediting rates, health care cost trend rates and rates of mortality. These assumptions are determined by management and are reviewed annually. The
key assumptions, as well as the sensitivity of the defined benefit obligation to changes in these assumptions, are presented in note 16 to the 2018 Annual Consolidated Financial Statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Changes in assumptions and differences between actual and expected experience give rise to actuarial gains and losses that affect the amount of the defined benefit
obligation and OCI. For 2018, the amount recorded in OCI was a loss of $109&nbsp;million (2017 &#150; gain of $83 million) for the defined benefit pension plans and a gain of $48&nbsp;million (2017 &#150; loss of $2 million) for the retiree welfare
plans. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Contributions to the registered (tax qualified) defined benefit pension plans are made in accordance with the applicable U.S. and Canadian regulations. During
2018, the Company contributed $23&nbsp;million (2017 &#150; $26 million) to these plans. As at December&nbsp;31, 2018, the difference between the fair value of assets and the defined benefit obligation for these plans was a surplus of
$257&nbsp;million (2017 &#150; surplus of $383 million). For 2019, the contributions to the plans are expected to be approximately $12&nbsp;million. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The
Company&#146;s supplemental pension plans for executives are not funded; benefits under these plans are paid as they become due. During 2018, the Company paid benefits of $56&nbsp;million (2017 &#150; $59 million) under these plans. As at
December&nbsp;31, 2018, the defined benefit obligation for these plans, which is reflected as a liability in the balance sheet, amounted to $742&nbsp;million (2017 &#150; $761 million). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s retiree welfare plans are partially funded, although there are no regulations or laws governing or requiring the funding of these plans. As at
December&nbsp;31, 2018, the difference between the fair value of plan assets and the defined benefit obligation for these plans was a deficit of $30&nbsp;million (2017 &#150; deficit of $78 million). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Income Taxes </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company is subject to income tax
laws in various jurisdictions. Tax laws are complex and potentially subject to different interpretations by the taxpayer and the relevant tax authority. The provision for income taxes represents management&#146;s interpretation of the relevant tax
laws and its estimate of current and future income tax implications of the transactions and events during the period. A deferred tax asset or liability results from temporary differences between carrying values of the assets and liabilities and
their respective tax basis. Deferred tax assets and liabilities are recorded based on expected future tax rates and management&#146;s assumptions regarding the expected timing of the reversal of such temporary differences. The realization of
deferred tax assets depends upon the existence of sufficient taxable income within the carryback or carry forward periods under the tax law in the applicable tax jurisdiction. A deferred tax asset is recognized to the extent that future realization
of the tax benefit is probable. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the tax benefit will be realized. At December&nbsp;31, 2018, we had $4,318&nbsp;million of
deferred tax assets (December 31, 2017 &#150; $4,569 million). Factors in management&#146;s determination include, among other things, the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Future taxable income exclusive of reversing temporary differences and carry forwards; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Future reversals of existing taxable temporary differences; </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Taxable income in prior carryback years; and </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Tax planning strategies. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company may be required to change its provision for income taxes if the ultimate deductibility of certain items is successfully challenged by taxing authorities or if
estimates used in determining the amount of deferred tax assets to recognize change significantly, or when receipt of new information indicates the need for adjustment in the recognition of deferred tax assets. Additionally, future events, such as
changes in tax laws, tax regulations, or interpretations of such laws or regulations, could have an impact on the provision for income tax, deferred tax balances, actuarial liabilities (see Critical Actuarial and Accounting Policies &#150; Expenses
and Taxes above) and the effective tax rate. Any such changes could significantly affect the amounts reported in the Consolidated Financial Statements in the year these changes occur. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Goodwill and Intangible Assets </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">At
December&nbsp;31, 2018, under IFRS we had $5,864&nbsp;million of goodwill and $4,233&nbsp;million of intangible assets ($1,617&nbsp;million of which are intangible assets with indefinite lives). Goodwill and intangible assets with indefinite lives
are tested at the cash generating unit level (&#147;CGU&#148;) or group of CGUs level. A CGU comprises the smallest group of assets that are capable of generating largely independent cash flows and is either a business segment or a level below. The
tests performed in 2018 demonstrated that there was </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>66</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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no impairment of goodwill or intangible assets with indefinite lives. Changes in discount rates and cash flow projections used in the determination of embedded values or reductions in
market-based earnings multiples may result in impairment charges in the future, which could be material. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Impairment charges could occur in the future as a result of
changes in economic conditions. The goodwill testing for 2019 will be updated based on the conditions that exist in 2019 and may result in impairment charges, which could be material. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Future Accounting and Reporting Changes </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">There
are a number of new accounting and reporting changes issued under IFRS including those still under development by the International Accounting Standards Board (&#147;IASB&#148;) that will impact the Company beginning in 2019. Summaries of each of
the most recently issued key accounting standards are presented below. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(a) Changes effective in 2018 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(I) IFRS 15 &#147;Revenue from Contracts with Customers&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company adopted IFRS 15 &#147;Revenue from Contracts with Customers&#148; which was issued in May 2014, and replaces IAS 11
&#147;Construction Contracts&#148;, IAS 18 &#147;Revenue&#148; and several interpretations. Amendments to IFRS 15 were issued in April 2016. IFRS 15 clarifies revenue recognition principles, provides a robust framework for recognizing revenue and
cash flows arising from contracts with customers and enhances qualitative and quantitative disclosure requirements. IFRS 15 does not apply to insurance contracts, financial instruments and lease contracts. The Company adopted IFRS 15 using the
modified retrospective method with no restatement of comparative information.</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company&#146;s service arrangements are generally satisfied over time, with revenue
measured and collected from customers within a short term, as services are rendered. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Adoption of IFRS 15 did not have a significant impact or result in transitional
adjustments on the Company&#146;s Consolidated Financial Statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(II) IFRS 9 &#147;Financial Instruments&#148; and Amendments to IFRS
4 &#147;Insurance Contracts&#148; </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company adopted the amendments to IFRS 4 &#147;Insurance Contracts&#148; issued in
September 2016. IFRS 9 &#147;Financial Instruments&#148; replaced IAS 39 &#147;Financial Instruments: Recognition and Measurement&#148; and resulted in revisions to classification and measurement, impairment of financial assets, and hedge
accounting. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">To address the concerns about differing effective dates of IFRS 9 &#147;Financial Instruments&#148; which is effective on January&nbsp;1, 2018 and IFRS
17 &#147;Insurance Contracts&#148; which is effective on January&nbsp;1, 2021, amendments to IFRS 4 &#147;Insurance Contracts&#148; provides companies whose activities are predominantly related to insurance an optional temporary exemption from
applying IFRS 9 until January&nbsp;1, 2021. Adoption of these amendments enabled the Company to defer the adoption of IFRS 9 and continue to apply IAS 39 until January&nbsp;1, 2021. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In November 2018, the IASB tentatively decided to defer the fixed expiry date for the temporary exemption in IFRS 4 from applying IFRS 9 by one year whose predominant
activities are connected with insurance. The proposed deferral is subject to IASB public consultation in 2019 which is expected to result in an exposure draft followed by a public comment period. We will continue to monitor IASB&#146;s future
developments related to the deferral. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In order to compare with entities applying IFRS 9, the amendments to IFRS 4 require deferring entities to disclose additional
information regarding the contractual cashflows characteristics and credit exposure of their financial statements. Deferring entities must disclose which financial assets have contractual terms that are solely payments of principal and interest on
principal outstanding (&#147;SPPI&#148;). Adoption of these disclosure requirements did not have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(III) Amendments to IFRS 2 &#147;Share-Based Payment&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company adopted amendments to IFRS 2 &#147;Share-Based Payment&#148;, issued in June 2016. These amendments were applied
prospectively. The amendments clarify the effects of vesting and <FONT STYLE="white-space:nowrap">non-vesting</FONT> conditions on the measurement of cash-settled share-based payments; provide guidance on the classification of share-based payment
transactions with net settlement features for withholding tax obligations; and clarify accounting for modification to the terms and conditions of a share-based payment that changes the classification of the transaction from cash-settled to
equity-settled. Adoption of these amendments did not have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(IV) IFRS Interpretation Committee (&#147;IFRIC&#148;) Interpretation 22 &#147;Foreign Currency Transactions and Advance Consideration&#148;
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company adopted IFRIC 22 &#147;Foreign Currency Transactions and Advance Consideration&#148;, issued in December 2016.
IFRIC 22 was applied prospectively. IFRIC 22 addresses which foreign exchange rate to use to measure a foreign currency transaction when advance payments are made or received and <FONT STYLE="white-space:nowrap">non-monetary</FONT> assets or
liabilities are recognized prior to recognition of the underlying transaction. IFRIC 22 does not relate to goods or services accounted for at fair value or at the fair value of consideration paid or received at a date other than the date of initial
recognition of the <FONT STYLE="white-space:nowrap">non-monetary</FONT> asset or liability, or to income taxes, insurance contracts or reinsurance contracts. The foreign exchange rate on the day of the advance payment is used to measure the foreign
currency transaction. If multiple advance payments are made or received, each payment is measured separately. Adoption of IFRIC 22 did not have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>67</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(V) Annual Improvements to IFRS Standards 2014 &#150; 2016 Cycle </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company adopted amendments issued within the Annual Improvements to IFRS Standards 2014-2016 Cycle, as issued by the IASB in December
2016. Minor amendments as part of this cycle were effective in 2017 and were adopted by the Company in that year, with remaining amendments being effective January&nbsp;1, 2018. The amendments were applied retrospectively. Adoption of these
amendments did not have a significant impact on the Company&#146;s Consolidated Financial Statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(b) Accounting and reporting changes
issued with an effective date later than 2018 </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(I) IFRS 9 &#147;Financial Instruments&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 9 &#147;Financial Instruments&#148; was issued in November 2009 and amended in October 2010, November 2013 and July 2014, and is effective for years beginning on or
after January&nbsp;1, 2018, to be applied retrospectively, or on a modified retrospective basis. Additionally, the IASB issued amendments in October 2017 that are effective for annual periods beginning on or after January&nbsp;1, 2019. The standard
is intended to replace IAS 39 &#147;Financial Instruments: Recognition and Measurement&#148;. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The project has been divided into three phases: classification and
measurement, impairment of financial assets, and hedge accounting. IFRS 9&#146;s current classification and measurement methodology provides that financial assets are measured at either amortized cost or fair value on the basis of the entity&#146;s
business model for managing the financial assets and the contractual cash flow characteristics of the financial assets. The classification and measurement for financial liabilities remains generally unchanged; however, for a financial liability
designated as at fair value through profit or loss, revisions have been made in the accounting for changes in fair value attributable to changes in the credit risk of that liability. Gains or losses caused by changes in an entity&#146;s own credit
risk on such liabilities are no longer recognized in profit or loss but instead are reflected in OCI. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Revisions to hedge accounting were issued in November 2013 as
part of the overall IFRS 9 project. The amendment introduces a new hedge accounting model, together with corresponding disclosures about risk management activity for those applying hedge accounting. The new model represents a substantial overhaul of
hedge accounting that will enable entities to better reflect their risk management activities in their financial statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Revisions issued in July 2014 replace
the existing incurred loss model used for measuring the allowance for credit losses with an expected loss model. Changes were also made to the existing classification and measurement model designed primarily to address specific application issues
raised by early adopters of the standard. They also address the income statement accounting mismatches and short-term volatility issues which have been identified as a result of the insurance contracts project. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company elected to defer IFRS 9 until January&nbsp;1, 2021 as allowed under the amendments to IFRS 4 &#147;Insurance Contracts&#148; outlined below. The Company is
assessing the impact of this standard. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(II) IFRS 16 &#147;Leases&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 16 &#147;Leases&#148; was issued in January 2016 and is effective for years beginning on or after January&nbsp;1, 2019. It will replace IAS 17 &#147;Leases&#148; and
IFRIC 4 &#147;Determining whether an arrangement contains a lease&#148;. The Company will adopt IFRS 16 effective January&nbsp;1,&nbsp;2019, on a modified retrospective basis with no restatement of comparative information. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, the customer (&#147;lessee&#148;)
and the supplier (&#147;lessor&#148;). The standard brings most leases <FONT STYLE="white-space:nowrap">on-balance</FONT> sheet for lessees under a single model, eliminating the previous classifications of operating and finance leases. Exemptions to
this treatment are for lease contracts with low value assets or leases with duration of less than one year. The <FONT STYLE="white-space:nowrap">on-balance</FONT> sheet treatment will result in the grossing up of the balance sheet due to <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets being recognized with offsetting liabilities. Lessor accounting will remain largely unchanged with previous classifications of operating and finance leases
being maintained. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Adoption of IFRS 16 is not expected to have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(III) IFRIC Interpretation 23 &#147;Uncertainty over Income Tax Treatments&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRIC 23 &#147;Uncertainty over Income Tax Treatments&#148; was issued in June 2017 and is effective for years beginning on or after January&nbsp;1,&nbsp;2019, to be
applied retrospectively. IFRIC 23 provides guidance on applying the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments including whether uncertain tax treatments should be considered together or
separately based on which approach better predicts resolution of the uncertainty. Adoption of IFRIC 23 is not expected to have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(IV) Amendments to IAS 28 &#147;Investments in Associates and Joint Ventures&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Amendments to IAS 28 &#147;Investments in Associates and Joint Ventures&#148; were issued in October 2017 and are effective for annual periods beginning on or after
January&nbsp;1, 2019, to be applied retrospectively. The amendments clarify that an entity applies IFRS 9 &#147;Financial Instruments&#148; to financial interests in an associate or joint venture to which the equity method is not applied. IAS 39
will be applied to these interests until IFRS 9 is adopted. Adoption of these amendments is not expected to have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(V) Annual Improvements 2015 &#150; 2017 Cycle </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Annual Improvements 2015 &#150; 2017 Cycle was issued in December 2017 and is effective for years beginning on or after January&nbsp;1,&nbsp;2019. The IASB issued three
minor amendments to different standards as part of the Annual Improvements process, with the amendments to be applied prospectively. Adoption of these amendments is not expected to have significant impact on the Company&#146;s Consolidated Financial
Statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>68</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(VI) Amendments to IAS 19 &#147;Employee Benefits&#148; </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Amendments to IAS 19 &#147;Employee Benefits&#148; were issued in February 2018 and are effective for annual periods beginning on or after January&nbsp;1, 2019, with
earlier application permitted. The amendments address the accounting for when a plan amendment, curtailment or settlement occurs within a reporting period.&nbsp;Updated actuarial assumptions must be used to determine current service cost and net
interest for the remainder of the reporting period after such an event.&nbsp;The amendments also address how the accounting for asset ceilings are affected by such an event.&nbsp;Adoption of these amendments is not expected to have a significant
impact on the Company&#146;s Consolidated Financial Statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(VII) Amendments to IFRS 3 &#147;Business Combinations&#148;
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Amendments to IFRS 3 &#147;Business Combinations&#148; were issued in October&nbsp;2018 and are effective for business combinations occurring on or after
January&nbsp;1, 2020, with earlier application permitted. The amendments revise the definition of business and provide a simplified assessment of whether an acquired set of activities and assets qualifies as a business. Application of the amendments
will result in fewer acquisitions qualifying as business combinations. Adoption of these amendments is not expected to have a significant impact on the Company&#146;s Consolidated Financial Statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(VIII) Amendments to IAS 1 &#147;Presentation of Financial Statements&#148; and IAS 8 &#147;Accounting Policies, Changes in Accounting
Estimates and Errors&#148; </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Amendments to IAS 1 &#147;Presentation of Financial Statements&#148; and IAS 8 &#147;Accounting Policies, Changes in Accounting
Estimates and Errors&#148; were issued in October 2018. The amendments are effective for annual periods beginning on or after January&nbsp;1, 2020 and are to be applied prospectively. The amendments update the definition of material. Adoption of
these amendments is not expected to have a significant impact on the Company&#146;s Consolidated Financial Statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>(IX) IFRS 17
&#147;Insurance Contracts&#148; </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 17 was issued in May 2017 and is effective for years beginning on January&nbsp;1, 2021, and to be applied
retrospectively. If full retrospective application to a group of contracts is impractical, the modified retrospective or fair value methods may be used. The standard will replace IFRS 4 &#147;Insurance Contracts&#148; and will materially change the
recognition and measurement of insurance contracts and the corresponding presentation and disclosures in the Company&#146;s Financial Statements and MD&amp;A. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In
November 2018, the IASB tentatively decided to defer the effective date of IFRS 17 by one year. The proposed deferral is subject to IASB public consultation in 2019 which is expected to result in an exposure draft followed by a public comment
period. We will continue to monitor IASB&#146;s future developments related to IFRS 17. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">IFRS 17 requires entities to measure insurance contract liabilities on the
balance sheet as the total of (a)&nbsp;the fulfillment cash flows &#150; the current estimates of amounts that the entity expects to collect from premiums and pay out for claims, benefits and expenses, including an adjustment for the timing and risk
for those amounts; and (b)&nbsp;the contractual service margin &#150; the future profit for providing insurance coverage. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The principles underlying IFRS 17 differ
from the Canadian Asset Liability Method (&#147;CALM&#148;) permitted by IFRS 4. While there are many differences, we have outlined two of the key differences: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Under IFRS 17, the discount rate used to estimate the present value of liabilities is based on the characteristics of the
liability, whereas under CALM, as outlined above (&#147;Critical Actuarial and Accounting Policies &#150; Determination of Policy Liabilities &#150; Investment Returns&#148;), we use the rate of returns for current and projected assets supporting
the policy liabilities to value the liabilities. The difference in the discount rate approach also impacts the timing of investment-related experience earnings emergence. As outlined in the &#147;Performance and
<FONT STYLE="white-space:nowrap">Non-GAAP</FONT> measures&#148; section below, under CALM investment-related experience includes investment experience and the impact of investing activities. The impact of the investing activities is directly related
to the CALM methodology. Under IFRS 17 the impact of investing activities will emerge over the life of the new asset. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Under IFRS 17, new business gains are recorded on the Consolidated Statements of Financial Position and amortized into
income as the services are provided. Under CALM, new business gains (and losses) are recognized in income immediately. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company is assessing the
implications of this standard and expects that it will have a significant impact on the Company&#146;s Consolidated Financial Statements. In addition, in certain jurisdictions, including Canada, it could have a material effect on tax and regulatory
capital positions and other financial metrics that are dependent upon IFRS accounting values. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>69</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_13"></A>Risk Factors </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our insurance, wealth and asset management and other financial services businesses subject Manulife to a broad range of risks. Management has identified the following
risks and uncertainties to which our businesses, operations and financial condition are subject. The risks and uncertainties described below are not the only ones facing us. Additional risks not presently known to us or that we currently deem
immaterial could also impair our businesses, operations and financial condition. If any of such risks should occur, the trading price of our securities, including common shares, preferred shares and debt securities, could decline, and you may lose
all or part of your investment. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Strategic Risk Factors </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We operate in highly competitive markets and compete for customers with both insurance and <FONT STYLE="white-space:nowrap">non-insurance</FONT> financial services
companies. Customer loyalty and retention, and access to distributors, are important to the Company&#146;s success and are influenced by many factors, including our distribution practices and regulations, product features, service levels, prices,
and our financial strength ratings and reputation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We may not be successful in executing our business strategies or these strategies may not
achieve our objectives. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Refer to &#147;Risk Management &#150; Strategic Risk&#148; above. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The economic environment could be volatile and our regulatory environment will continue to evolve, potentially with higher
capital requirements which could materially impact our competitiveness. Further, the attractiveness of our product offerings relative to our competitors will be influenced by competitor actions as well as our own, and the requirements of the
applicable regulatory regimes. For these and other reasons, there is no certainty that we will be successful in implementing our business strategies or that these strategies will achieve the objectives we target. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Macro-economic factors may result in our inability to achieve business strategies and plans. Of note, economic factors such
as flat or declining equity markets, equity market volatility, or a period of prolonged low interest rates could impact our ability to achieve business objectives. Other factors, such as management actions taken to bolster capital and manage the
Company&#146;s risk profile, including new or amended reinsurance agreements, and additional actions that the Company may take to help manage near-term regulatory capital ratios or help mitigate equity market and interest rate exposures, could
adversely impact our longer-term earnings potential. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Our insurance businesses are heavily regulated, and changes in
regulation may reduce our profitability and limit our growth. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our insurance operations are subject to a wide variety of insurance and other laws and regulations. Insurance and securities
regulators in Canada, the United States, Asia and other jurisdictions regularly <FONT STYLE="white-space:nowrap">re-examine</FONT> existing laws and regulations applicable to insurance companies, investment advisors, brokers-dealers and their
products. Compliance with applicable laws and regulations is time consuming and personnel-intensive, and changes in these laws and regulations or in the interpretation or enforcement thereof, may materially increase our direct and indirect
compliance costs and other expenses of doing business, thus having a material adverse effect on our results of operations and financial condition. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">In addition, international regulators as well as domestic financial authorities and regulators in many countries have been
reviewing their capital requirements and are implementing, or are considering implementing, changes aimed at strengthening risk management and capitalization of financial institutions. Future regulatory capital, actuarial and accounting changes,
including changes with a retroactive impact, could have a material adverse effect on the Company&#146;s consolidated financial condition, results of operations and regulatory capital both on transition and going forward. In addition, such changes
could have a material adverse effect on the Company&#146;s position relative to that of other Canadian and international financial institutions with which Manulife competes for business and capital. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">In Canada, MFC and its principal operating subsidiary, MLI, are governed by the Insurance Companies Act (Canada)
(&#147;ICA&#148;). The ICA is administered, and the activities of the Company are supervised, by the Office of the Superintendent of Financial Institutions (&#147;OSFI&#148;). MLI is also subject to regulation and supervision under the insurance
laws of each of the provinces and territories of Canada. Regulatory oversight is vested in various governmental agencies having broad administrative power with respect to, among other things, dividend payments, capital adequacy and risk-based
capital requirements, asset and reserve valuation requirements, permitted investments and the sale and marketing of insurance contracts. These regulations are intended to protect policyholders and beneficiaries rather than investors and may
adversely impact shareholder value. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Some recent examples of regulatory and professional standard developments, in addition to the developments outlined in the
&#147;Risk Management &#150; Regulatory Updates&#148; section above, which could impact our net income attributed to shareholders and/or capital position are provided below. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The International Association of Insurance Supervisors (&#147;IAIS&#148;) is expected to finalize the risk-based global
Insurance Capital Standard (&#147;ICS&#148;) during 2019. ICS will apply to all large internationally active insurance groups, and the IAIS&#146;s intention is to require annual reporting to OSFI on a confidential basis for five years, starting in
2020, before the standard becomes effective in 2025. The IAIS has also been developing a holistic framework to assess and mitigate insurance sector systemic risk, which includes reviewing the activities of insurers. It is not yet known how these
proposals will affect capital requirements and Manulife&#146;s competitive position given that several key items for these developments remain under discussion. </P></TD></TR></TABLE>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The National Association of Insurance Commissioners (&#147;NAIC&#148;) has been reviewing reserving and capital
methodologies as well as the overall risk management framework. These reviews will affect U.S. life insurers, including John Hancock, and </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>70</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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could lead to increased reserving and/or capital requirements for our business in the U.S. In addition, the NAIC is continuing to explore the development of a group capital calculation tool;
however, the scope of any such tool has not yet been determined. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Actuarial Standards Board (&#147;ASB&#148;) promulgates certain assumptions referenced in the CIA Standards of Practice
for the valuation of insurance contract liabilities. These promulgations are updated periodically and in the event that new promulgations are published, they will apply to the determination of actuarial liabilities and may lead to an increase in
actuarial liabilities and a reduction in net income attributed to shareholders. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">In the United States, state insurance laws regulate most aspects of our business, and our U.S. insurance subsidiaries are
regulated by the insurance departments of the states in which they are domiciled and the states in which they are licensed. State laws grant insurance regulatory authorities broad administrative powers with respect to, among other things: licensing
companies and agents to transact business; calculating the value of assets to determine compliance with statutory requirements; mandating certain insurance benefits; regulating certain premium rates; reviewing and approving policy forms; regulating
unfair trade and claims practices, including through the imposition of restrictions on marketing and sales practices, distribution arrangements and payment of inducements; regulating advertising; protecting privacy; establishing statutory capital
and reserve requirements and solvency standards; fixing maximum interest rates on insurance policy loans and minimum rates for guaranteed crediting rates on life insurance policies and annuity contracts; approving changes in control of insurance
companies; restricting the payment of dividends and other transactions between affiliates; and regulating the types, amounts and valuation of investments. Changes in any such laws and regulations, or in the interpretation or enforcement thereof by
regulators, could significantly affect our business, results of operations and financial condition. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Currently, the U.S. federal government does not directly regulate the business of insurance. However, federal legislation
and administrative policies in several areas can significantly and adversely affect state regulated insurance companies. These areas include financial services regulation, securities regulation, pension regulation, privacy, tort reform legislation
and taxation. In addition, under the Dodd-Frank Wall Street Reform and Consumer Protection Act (&#147;Dodd-Frank&#148;), the U.S. Board of Governors of the Federal Reserve has supervisory powers over <FONT STYLE="white-space:nowrap">non-bank</FONT>
financial companies that are determined to be systemically important. For further discussion on Dodd-Frank, refer to the risk factor entitled &#147;Dodd-Frank adversely impacts our results of operations and our liquidity&#148;.
</P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Insurance guaranty associations in Canada and the United States have the right to assess insurance companies doing business
in their jurisdiction for funds to help pay the obligations of insolvent insurance companies to policyholders and claimants. Because the amount and timing of an assessment is beyond our control, the liabilities that we have currently established for
these potential liabilities may not be adequate. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">While many of the laws and regulations to which we are subject are intended to protect policyholders, beneficiaries,
depositors and investors in our products and services, others also set standards and requirements for the governance of our operations. Failure to comply with applicable laws or regulations could result in financial penalties or sanctions, and
damage our reputation. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">From time to time, regulators raise issues during examinations or audits of Manulife that could have a material adverse
impact on us. We cannot predict whether or when regulatory actions may be taken that could adversely affect our operations. For further discussion of government regulation and legal proceedings refer to &#147;Government Regulation&#148; in
MFC&#146;s Annual Information Form dated February&nbsp;13, 2019 and note&nbsp;18 of the 2018 Annual Consolidated Financial Statements. Refer to the risk factor &#147;Our <FONT STYLE="white-space:nowrap">non-North</FONT> American operations face
political, legal, operational and other risks that could negatively affect those operations or our results of operations and financial condition&#148; for further discussion on the impact to our operations. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Dodd-Frank adversely impacts our results of operations and our liquidity. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Dodd-Frank establishes a framework for regulation of
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> (&#147;OTC&#148;) derivatives which affects activities of the Company that use derivatives for various purposes, including hedging equity market,
interest rate and foreign currency exposures. Regulations promulgated by the U.S. Commodity Futures Trading Commission (&#147;CFTC&#148;) and proposed by the U.S. Securities and Exchange Commission (&#147;SEC&#148;) under Dodd-Frank require certain
types of OTC derivative transactions to be cleared through a regulated clearinghouse, and a subset of such transactions to be executed through a centralized exchange or regulated facility. These CFTC rules impose, and the SEC rules may impose,
additional costs on the Company. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Both cleared and <FONT STYLE="white-space:nowrap">non-cleared</FONT> derivative transactions are now subject to margin
requirements under Dodd-Frank. Cleared derivatives transactions are subject to daily initial margin, and variation margin requirements imposed by the clearinghouse, while our <FONT STYLE="white-space:nowrap">non-cleared</FONT> derivatives are
subject to daily variation margin requirements. These margin requirements impose costs and increase liquidity risk for the Company. These margin requirements combined with the more restricted list of securities that qualify as eligible collateral
for both cleared and <FONT STYLE="white-space:nowrap">non-cleared</FONT> derivatives require us to hold larger positions in cash and treasuries, which could reduce net income attributed to shareholders. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt"><FONT STYLE="white-space:nowrap">In-force</FONT> OTC derivative transactions are grandfathered and will migrate to
clearinghouses over time, or the Company may elect to accelerate the migration. As such, this may not become a significant risk for Manulife until a large portion of our derivatives have transitioned to clearinghouses (expected in the 2021 to 2023
timeframe) and market conditions adverse to liquidity (material increases in interest rates and/or equity markets) have been experienced. However, in certain situations such as ratings downgrade, our counterparties may be able to accelerate the
transition by exercising any potential rights to terminate the contract. Some OTC derivative contracts also give Manulife and its counterparties the right to cancel the contract after specific dates. Any such cancellation by our counterparties could
accelerate the transition to clearing. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Manulife has been closely monitoring the evolving regulations and industry trends pertaining to these requirements.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>71</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>International Financial Reporting Standards will have a material impact on our financial
results. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">As outlined in the Critical Actuarial and Accounting Policies section above, the IASB issued a new accounting standard for
insurance contracts in 2017, with an effective date of 2021 (in November 2018, the IASB tentatively decided to defer the effective date of IFRS 17 by one year). Until this standard is effective, IFRS does not currently prescribe an insurance
contract measurement model and therefore, as permitted by IFRS 4 &#147;Insurance Contracts&#148;, insurance contract liabilities continue to be measured using CALM. Under CALM, the measurement of actuarial liabilities is based on projected liability
cash flows, together with estimated future premiums and net investment income generated from assets held to support those liabilities. A summary of some of the key changes are outlined in the &#147;Critical Actuarial and Accounting Policies &#150;
Future Accounting and Reporting Changes&#148; section above. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The standard could create material volatility in our financial results and capital position; and could result in a lower
discount rate used for the determination of actuarial liabilities, thereby increasing our actuarial liabilities and reducing our equity. The Company&#146;s capital position (see note below) and income for accounting purposes could be significantly
influenced by prevailing market conditions, resulting in volatility of reported results, that may necessitate changes to business strategies. The standard requires that margins created from the sale of new business are deferred in full, eliminating
accounting gains at the time of sale. Note: The regulatory capital framework in Canada is currently aligned with IFRS. In Canada, OSFI will decide on the appropriate recognition of the accounting outcomes within the regulatory capital framework.
</P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Additionally, other jurisdictions may not adopt the standard as issued or on the same timeline as published by the IASB, and
there is a possibility that Canada will be the first to adopt the standard. Adopting the standard in Canada before it is adopted elsewhere could increase our cost of capital compared with global competitors and the banking sector in Canada.
</P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Any mismatch between the underlying economics of our business and the new accounting standard could have significant
unintended negative consequences on our business model; and potentially affect our customers, shareholders and the capital markets. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Changes in tax laws, tax regulations, or interpretations of such laws or regulations could make some of our products less attractive to consumers, could increase our corporate taxes or cause us to change the value of our deferred
tax assets and liabilities as well as our tax assumptions included in the valuation of our policy liabilities. This could have a material adverse effect on our business, results of operations and financial condition. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Many of the products that the Company sells benefit from one or more forms of preferred tax treatment under current income
tax regimes. For example, the Company sells life insurance policies that benefit from the deferral or elimination of taxation on earnings accrued under the policy, as well as permanent exclusion of certain death benefits that may be paid to
policyholders&#146; beneficiaries. We also sell annuity contracts that allow the policyholders to defer the recognition of taxable income earned within the contract. Other products that the Company sells, such as certain employer-paid health and
dental plans, also enjoy similar, as well as other, types of tax advantages. The Company also benefits from certain tax benefits, including <FONT STYLE="white-space:nowrap">tax-exempt</FONT> interest, dividends-received deductions, tax credits (such
as foreign tax credits), and favourable tax rates and/or income measurement rules for tax purposes. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">There is risk that tax legislation could be enacted that would lessen or eliminate some or all of the tax advantages
currently benefiting the Company or its policyholders or its other clients. This could occur in the context of deficit reduction or other tax reforms. The effects of any such changes could result in materially lower product sales, lapses of policies
currently held, and/or our incurrence of materially higher corporate taxes, any of which could have a material adverse effect on our business, results of operations and financial condition. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Additionally, the Company may be required to change its provision for income taxes or carrying amount of deferred tax assets
or liabilities if the characterization of certain items is successfully challenged by taxing authorities or if future transactions or events, which could include changes in tax laws, tax regulations or interpretations of such laws or regulations,
occur. Any such changes could significantly affect the amounts reported in the Consolidated Financial Statements in the year these changes occur. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The U.S. government enacted the Tax Cuts and Jobs Act effective January&nbsp;1, 2018 (&#147;U.S. Tax Reform&#148;). The
legislation makes broad and complex changes to the U.S. tax code including reducing individual and corporate tax rates and permitting expensing of many capital expenditures. In addition, the law limits the deductibility of policy reserves for U.S.
federal income tax purposes. Regulations and further guidance from the Internal Revenue Service and other bodies continues to be developed and released, implementing and/or clarifying the legislation. Any further changes or amendments to the law or
its interpretation could result in material change to our tax balances. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">In the long run, U.S. Tax Reform, all else being equal, could lead to a reduction in corporate borrowings and lower
borrowings could lead to tighter spreads. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Access to capital may be negatively impacted by market conditions.
</B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Disruptions, uncertainty or volatility in the financial markets may limit our access to capital required to operate our
business. Such market conditions may limit our ability to satisfy regulatory capital requirements, to access the capital necessary to grow our business and meet our refinancing requirements. Under extreme conditions, we may be forced, among other
things, to delay raising capital, issue different types of capital than we would otherwise, less effectively deploy such capital, issue shorter term securities than we prefer, or issue securities that bear an unattractive cost of capital which could
decrease our profitability, dilute our existing shareholders, and significantly reduce our financial flexibility. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We may
experience future downgrades in our financial strength or credit ratings, which may materially adversely impact our financial condition and results of operations. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Credit rating agencies publish financial strength ratings on life insurance companies that are indicators of an insurance
company&#146;s ability to meet contract holder and policyholder obligations. Credit rating agencies also assign credit ratings, which are indicators of </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>72</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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an issuer&#146;s ability to meet the terms of its obligations in a timely manner and are important factors in a company&#146;s overall funding profile and ability to access external capital.
</P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Ratings are important factors in establishing the competitive position of insurance companies, maintaining public confidence
in products being offered, and determining the cost of capital. A ratings downgrade, or the potential for such a downgrade could, among other things: increase our cost of capital and limit our access to the capital markets; cause some of our
existing liabilities to be subject to acceleration, additional collateral support, changes in terms, or additional financial obligations; result in the termination of our relationships with broker-dealers, banks, agents, wholesalers and other
distributors of our products and services; unfavourably impact our ability to execute on our hedging strategies; materially increase the number of surrenders, for all or a portion of the net cash values, by the owners of policies and contracts we
have issued, and materially increase the number of withdrawals by policyholders of cash values from their policies; and reduce new sales. Any of these consequences could adversely affect our results of operations and financial condition.
</P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Credit rating agencies noted risks with respect to: our capital and net earnings volatility associated with fair-value
accounting; net residual exposures to equity markets and lower interest rates; challenges associated with managing <FONT STYLE="white-space:nowrap">in-force</FONT> long-term care, universal life with secondary guarantees and variable annuity
products in the U.S.; relatively high proportion of holdings in equities and alternative long-duration assets within our investment mix; as well as elevated financial leverage. There can be no guarantee that downgrades will not occur.
</P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">It is possible that there will be changes in the benchmarks for capital, liquidity, earnings and other factors used by these
credit rating agencies that are important to a ratings assignment at a particular rating level. Any such changes could have a negative impact on our ratings, which could adversely impact our results of operations, financial condition and access to
capital markets. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Competitive factors may adversely affect our market share and profitability. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The insurance, wealth and asset management industries are highly competitive. Our competitors include other insurers,
securities firms, investment advisors, mutual funds, banks and other financial institutions. Financial service firms which rely heavily on technology-driven business models (e.g. fintech and insurtech firms) are also increasingly becoming potential
competitors. Our competitors compete with us for customers, access to distribution channels such as brokers and independent agents, and for employees. In some cases, competitors may be subject to less onerous regulatory requirements, have lower
operating costs or have the ability to absorb greater risk while maintaining their financial strength ratings, thereby allowing them to price their products more competitively or offer features that make their products more attractive. These
competitive pressures could result in lower new business volumes and increased pricing pressures on a number of our products and services that may harm our ability to maintain or increase our profitability. Because of the highly competitive nature
of the financial services industry, there can be no assurance that we will continue to effectively compete with our industry rivals and competitive pressure may have a material adverse effect on our business, results of operations and financial
condition. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We may experience difficulty in marketing and distributing products through our current and future distribution
channels. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We distribute our insurance and wealth management products through a variety of distribution channels, including brokers,
independent agents, broker-dealers, banks, wholesalers, affinity partners, other third-party organizations and our own sales force in Asia. We generate a significant portion of our business through individual third-party arrangements. We
periodically negotiate provisions and renewals of these relationships, and there can be no assurance that such terms will remain acceptable to us or relevant third parties. An interruption in our continuing relationship with certain of these third
parties could significantly affect our ability to market our products and could have a material adverse effect on our business, results of operations and financial condition. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Industry trends could adversely affect the profitability of our businesses. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our business segments continue to be influenced by a variety of trends that affect our business and the financial services
industry in general. The impact of the volatility and instability of the financial markets on our business is difficult to predict. The Company&#146;s business plans, financial condition and results of operations have been in the recent past and may
in the future be negatively impacted or affected. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We may face unforeseen liabilities or asset impairments arising from
possible acquisitions and dispositions of businesses or difficulties integrating acquired businesses. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We have engaged in acquisitions and dispositions of businesses in the past and expect to continue to do so in the future as
we may deem appropriate. There could be unforeseen liabilities or asset impairments, including goodwill impairments that arise in connection with the businesses that we may sell, have acquired, or may acquire in the future. In addition, there may be
liabilities or asset impairments that we fail, or are unable, to discover in the course of performing due diligence investigations on acquisition targets. Furthermore, the use of our own funds as consideration in any acquisition would consume
capital resources that would no longer be available for other corporate purposes. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our ability to achieve some or all of the benefits we anticipate from any acquisitions of businesses will depend in large
part upon our ability to successfully integrate the businesses in an efficient and effective manner. We may not be able to integrate the businesses smoothly or successfully, and the process may take longer than expected. The integration of
operations may require the dedication of significant management resources, which may distract management&#146;s attention from our <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">day-to-day</FONT></FONT> business. Acquisitions of
operations outside of North America, especially any acquisition in a jurisdiction in which we do not currently operate, may be particularly challenging or costly to integrate. If we are unable to successfully integrate the operations of any
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>73</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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acquired businesses, we may be unable to realize the benefits we expect to achieve as a result of the acquisitions and the results of operations may be less than expected. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>If our businesses do not perform well, or if the outlook for our businesses is significantly lower than historical trends, we may be required to
recognize an impairment of goodwill or intangible assets or to establish a valuation allowance against our deferred tax assets, which could have a material adverse effect on our results of operations and financial condition. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Goodwill represents the excess of the amounts we paid to acquire subsidiaries and other businesses over the fair value of
their net identifiable assets at the date of acquisition. Intangible assets represent assets that are separately identifiable at the time of an acquisition and provide future benefits such as the John Hancock brand. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">As outlined above, in section &#147;Critical Actuarial and Accounting, Goodwill and Intangibles&#148;, goodwill and
intangible assets with indefinite lives are tested at least annually for impairment at the cash generating unit (&#147;CGU&#148;) or group of CGUs level, representing the smallest group of assets that is capable of generating largely independent
cash flows. Going forward, as a result of the impact of economic conditions and changes in product mix and the granular level of goodwill testing under IFRS, additional impairment charges could occur in the future. Any impairment in in goodwill
would not affect LICAT capital. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">If market conditions deteriorate in the future and, in particular, if MFC&#146;s common share price is low relative to book
value per share, if the Company&#146;s actions to limit risk associated with its products or investments cause a significant change in any one CGU&#146;s recoverable amount, or if the outlook for a CGU&#146;s results deteriorate, the Company may
need to reassess the value of goodwill and/or intangible assets which could result in impairments during 2019 or subsequent periods. Such impairments could have a material adverse effect on our results of operations and financial condition.
</P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Deferred income tax balances represent the expected future tax effects of the differences between the book and tax basis of
assets and liabilities, loss carry forwards and tax credits. Deferred tax assets are recorded when the Company expects to claim deductions on tax returns in the future for expenses that have already been recorded in the financial statements.
</P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The availability of those deductions is dependent on future taxable income against which the deductions can be made.
Deferred tax assets are assessed periodically by management to determine if they are realizable. Factors in management&#146;s determination include the performance of the business including the ability to generate gains from a variety of sources and
tax planning strategies. If based on information available at the time of the assessment, it is determined that the deferred tax asset will not be realized, then the deferred tax asset is reduced to the extent that it is no longer probable that the
tax benefit will be realized. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We may not be able to protect our intellectual property and may be subject to infringement
claims. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We rely on a combination of contractual rights and copyright, trademark, patent and trade secret laws to establish and
protect our intellectual property. In particular, we have invested considerable resources in promoting the brand names &#147;Manulife&#148; and &#147;John Hancock&#148; and expect to continue to do so. Although we use a broad range of measures to
protect our intellectual property rights, third parties may infringe or misappropriate our intellectual property. We may have to litigate to enforce and protect our copyrights, trademarks, patents, trade secrets and
<FONT STYLE="white-space:nowrap">know-how</FONT> or to determine their scope, validity or enforceability, which represents a diversion of resources that may be significant in amount and may not prove successful. The loss of intellectual property
protection or the inability to secure or enforce the protection of our intellectual property assets could have a material adverse effect on our business and our ability to compete. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We also may be subject to costly litigation in the event that another party alleges our operations or activities infringe
upon its intellectual property rights. Third parties may have, or may eventually be issued, patents that could be infringed by our products, methods, processes or services. Any party that holds such a patent could make a claim of infringement
against us. We may also be subject to claims by third parties for breach of copyright, trademark, trade secret or license usage rights. Any such claims and any resulting litigation could result in significant liability for damages. If we were found
to have infringed a third-party patent or other intellectual property rights, we could incur substantial liability, and in some circumstances could be enjoined from providing certain products or services to our customers or utilizing and benefiting
from certain methods, processes, copyrights, trademarks, trade secrets or licenses, or alternatively could be required to enter into costly licensing arrangements with third parties, all of which could have a material adverse effect on our business,
results of operations and financial condition. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Applicable laws may discourage takeovers and business combinations that
common shareholders of MFC might consider in their best interests. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The ICA contains restrictions on the purchase or other acquisition, issue, transfer and voting of the shares of an insurance
company. In addition, under applicable U.S. insurance laws and regulations in states where certain of our insurance company subsidiaries are domiciled, no person may acquire control of MFC without obtaining prior approval of those states&#146;
insurance regulatory authorities. These restrictions may delay, defer, prevent, or render more difficult a takeover attempt that common shareholders of MFC might consider in their best interests. For instance, they may prevent shareholders of MFC
from receiving the benefit from any premium to the market price of MFC&#146;s common shares offered by a bidder in a takeover context. Even in the absence of a takeover attempt, the existence of these provisions may adversely affect the prevailing
market price of MFC&#146;s common shares if they are viewed as discouraging takeover attempts in the future. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Entities
within the MFC Group are interconnected which may make separation difficult. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">MFC operates in local markets through subsidiaries and branches of subsidiaries. These local operations are financially and
operationally interconnected to lessen expenses, share and reduce risk, and efficiently utilize financial resources. In general, external capital required for companies in the Manulife group has been raised at the MFC or MLI level and then
transferred to other entities </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>74</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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as equity or debt capital as appropriate. Other linkages include policyholder and other creditor guarantees and other forms of internal support between various entities, loans, capital
maintenance agreements, derivatives, shared services and affiliate reinsurance treaties. Accordingly, the risks undertaken by a subsidiary may be transferred to or shared by affiliates through financial and operational linkages. Some of the
consequences of this are: </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Financial difficulties at a subsidiary may not be isolated and could cause material adverse effects on affiliates and the
group as a whole. </P></TD></TR></TABLE> <P STYLE="font-size:0pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Linkages may make it difficult to dispose of or separate a subsidiary or business within the group by way of a <FONT
STYLE="white-space:nowrap">spin-off</FONT> or similar transaction and the disposition or separation of a subsidiary or business may not fully eliminate the liability of the Company and its remaining subsidiaries for shared risks. Issues raised by
such a transaction could include: (i)&nbsp;the Company cannot terminate, without policyholder consent and in certain jurisdictions regulator consent, parental guarantees on <FONT STYLE="white-space:nowrap">in-force</FONT> policies and therefore
would continue to have residual risk under any such <FONT STYLE="white-space:nowrap">non-terminated</FONT> guarantees; (ii)&nbsp;internal capital mobility and efficiency could be limited; (iii)&nbsp;significant potential tax consequences;
(iv)&nbsp;uncertainty about the accounting and regulatory outcomes of such a transaction; (v)&nbsp;obtaining any other required approvals; (vi)&nbsp;there may be a requirement for significant capital injections; and (vii)&nbsp;the transaction may
result in increased sensitivity of net income attributed to shareholders and capital of MFC and its remaining subsidiaries to market declines. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT
 COLOR="#2a517f"><B>Market Risk Factors </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Market risk is the risk of loss resulting from market price volatility, interest rate change, credit and swap
spread changes, and from adverse foreign currency rate movements. Market price volatility primarily relates to changes in prices of publicly traded equities and alternative long-duration assets. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Liquidity risk, which we manage as a form of market risk, is the risk of not having access to sufficient funds or liquid assets to meet both expected and unexpected cash
outflows and collateral demand. We are exposed to liquidity risk in each of our operating companies and in our holding company. In the operating companies, expected cash and collateral demands arise <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">day-to-day</FONT></FONT> to fund anticipated policyholder benefits, withdrawals of customer deposit balances, reinsurance settlements, derivative instrument settlements/collateral pledging, expenses, investment and hedging
activities. Under stressed conditions, unexpected cash and collateral demands could arise primarily from a change in the level of policyholders either terminating policies with large cash surrender values or not renewing them when they mature,
withdrawals of customer deposit balances, borrowers renewing or extending their loans when they mature, derivative settlements or collateral demands, and reinsurance settlements or collateral demands. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Our most significant source of publicly traded equity risk arises from variable annuity and segregated funds with guarantees, where the
guarantees are linked to the performance of the underlying funds. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Publicly traded equity performance risk arises from a variety of sources, including guarantees associated with variable
annuity and segregated fund products, asset based fees, and investments in publicly traded equities. </P></TD></TR></TABLE> <P STYLE="font-size:0pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Guaranteed benefits are contingent and payable upon death, maturity, permitted withdrawal or annuitization. If equity
markets decline or even if they increase by an amount lower than that assumed in our actuarial valuation, additional liabilities may need to be established to cover the contingent liabilities, resulting in a reduction in net income attributed to
shareholders and regulatory capital ratios. Further, if equity markets do not recover to the amount of the guarantees, by the dates the liabilities are due, the accrued liabilities will need to be paid out in cash. In addition, sustained flat or
declining public equity markets would likely reduce asset based fee revenues related to variable annuities and segregated funds with guarantees and related to other wealth and insurance products. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Where publicly traded equity investments are used to support policy liabilities, the policy valuation incorporates projected
investment returns on these assets. If actual returns are lower than the expected returns, the investment losses will reduce net income attributed to shareholders. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">For products where the investment strategy applied to future cash flows in the policy valuation includes investing a
specified portion of future cash flows in publicly traded equities, a decline in the value of publicly traded equities relative to other assets could require us to change the investment mix assumed for future cash flows, which may increase policy
liabilities and reduce net income attributed to shareholders. A reduction in the outlook for expected future returns for publicly traded equities, which could result from a fundamental change in future expected economic growth, would increase policy
liabilities and reduce net income attributed to shareholders. Furthermore, to the extent publicly traded equities are held as AFS, other than temporary impairments that arise will reduce income. </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Expected long-term annual market growth assumptions for public equities for key markets are based on long-term historical
observed experience. See Critical Actuarial and Accounting Policies for the rates used in the stochastic valuation of our segregated fund guarantee business. The calibration of the economic scenario generators that are used to value segregated fund
guarantee business complies with current CIA Standards of Practice for the valuation of these products. Implicit margins, determined through stochastic valuation processes, lower net yields used to establish policy liabilities. Assumptions used for
public equities backing liabilities are also developed based on historical experience but are constrained by different CIA Standards of Practice and differ slightly from those used in stochastic valuation. Alternative asset return assumptions vary
based on asset class but are largely consistent, after application of valuation margins and differences in taxation, with returns assumed for public equities. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>75</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We experience interest rate and spread risk within the general fund primarily due to the
uncertainty of future returns on investments. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Interest rate and spread risk arises from general fund guaranteed benefit products, general fund adjustable benefit products
with minimum rate guarantees, general fund products with guaranteed surrender values, segregated fund products with minimum benefit guarantees and from surplus fixed income investments. The risk arises within the general fund primarily due to the
uncertainty of future returns on investments to be made as assets mature and as recurring premiums are received and invested or reinvested to support longer dated liabilities. Interest rate risk also arises due to minimum rate guarantees and
guaranteed surrender values on products where investment returns are generally passed through to policyholders. A rapid rise in interest rates may also result in losses attributable to early liquidation of fixed income instruments supporting
contractual surrender benefits, if customers surrender to take advantage of higher interest rates on offer elsewhere. In order to reduce interest rate risk, the duration of fixed income investments is managed by entering into interest rate hedges.
</P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The valuation of policy liabilities reflects assumptions for the yield on future investments and the projected cash flows
associated with interest rate hedges. A general decline in interest rates, without a change in corporate bond spreads and swap spreads, will reduce the assumed yield on future investments but favourably impact the value of lengthening interest rate
hedges. Conversely, a general increase in interest rates, without a change in corporate bond spreads and swap spreads, will increase the assumed yield on future investments, but unfavourably impact the value of lengthening interest rate hedges. The
Company&#146;s disclosed estimated impact from interest rate movements reflects a parallel increase and decrease in interest rates of specific amounts. The reinvestment assumptions used in the valuation of our insurance liabilities are based on
interest rate scenarios and calibration criteria set by the Actuarial Standards Board, while our interest rate hedges are valued using current market interest rates. Therefore, in any particular quarter, changes to the reinvestment assumptions are
not fully aligned to changes in current market interest rates especially when there is a significant change in the shape of the interest rate curve. As a result, the impact from <FONT STYLE="white-space:nowrap">non-parallel</FONT> movements may be
different from the estimated impact of parallel movements. Furthermore, changes in interest rates could change the reinvestment scenarios used in the calculation of our actuarial liabilities. The reinvestment scenario changes tend to amplify the
negative effects of a decrease in interest rates and dampen the positive effects of interest rate increases. In addition, decreases in corporate bond spreads or increases in swap spreads should generally result in an increase in policy liabilities
and a reduction in net income attributed to shareholders, while an increase in corporate bond spreads or a decrease in swap spreads should generally have the opposite impact. The impact of changes in interest rates and in spreads may be partially
offset by changes to credited rates on adjustable products that pass-through investment returns to policyholders. </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">For segregated fund and variable annuity products, a sustained increase in interest rate volatility or a decline in interest
rates would also likely increase the costs of hedging the benefit guarantees provided. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We experience ALDA performance risk
when actual returns are lower than expected returns. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">ALDA performance risk arises from general fund investments in commercial real estate, timber properties, farmland
properties, infrastructure, oil and gas properties, and private equities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Where these assets are used to support policy liabilities, the policy valuation incorporates projected investment returns on
these assets. ALDA assumptions vary by asset class and generally have a similar impact on policy liabilities as public equities would. If actual returns are lower than the expected returns, there will be a negative impact to the net income
attributed to shareholders. A reduction in the outlook for expected future returns for ALDA, which could result from a variety of factors such as a fundamental change in future expected economic growth or declining risk premiums due to increased
competition for such assets, would increase policy liabilities and reduce net income attributed to shareholders. Further, if returns on certain external asset benchmarks used to determine permissible assumed returns under the CIA Standards of
Practice are lower than expected, the Company&#146;s policy liabilities will increase, reducing net income attributed to shareholders. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">In recent periods, the value of oil and gas assets has been negatively impacted by the decline in energy prices and could be
further adversely affected by additional declines in energy prices as well as by a number of other factors including production declines, uncertainties associated with estimating oil and natural gas reserves, difficult economic conditions and
geopolitical events. Changes in government regulation of the oil and gas industry, including environmental regulation, carbon taxes and changes in the royalty rates resulting from provincial royalty reviews, could also adversely affect the value of
our oil and gas investments. </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Difficult economic conditions could result in higher vacancy, lower rental rates and lower demand for real estate
investments, all of which would adversely impact the value of our real estate investments. Difficult economic conditions could also prevent companies in which we have made private equity investments from achieving their business plans and could
cause the value of these investments to fall, or even cause the companies to fail. Declining valuation multiples in the public equity market would also likely cause values to decline in our private equity portfolio. The timing and amount of
investment income from private equity investments is difficult to predict, and investment income from these investments can vary from quarter to quarter. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our timberland and farmland holdings are exposed to natural risks, such as prolonged drought, wildfires, insects,
windstorms, flooding, and climate change. We are generally not insured for these types of risks but seek to mitigate their impact through portfolio diversification and prudent operating practices. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">More broadly, a rising interest rate environment could result in the value of some of our ALDA investments declining,
particularly those with fixed contractual cash flows such as real estate. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The negative impact of changes in these factors can take time to be fully reflected in the valuations of private
investments, including ALDA, especially if the change is large and rapid, as market participants adjust their forecasts and better understand the potential medium to long-term impact of such changes. As a result, valuation changes in any given
period may reflect the delayed impact of events that occurred in prior periods. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>76</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We rely on a diversified portfolio of ALDA assets to generate relatively stable investment returns. Diversification benefits
may be reduced at times, especially during a period of economic stress, which would adversely affect portfolio returns. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company determines investment return assumptions for ALDA in accordance with the Standards of Practice for the valuation
of insurance contract liabilities and guidance published by the CIA. The guidance requires that the investment return assumption for these assets should not be higher than the historical long-term average returns of an appropriate broad-based index.
Where such experience is not available, the investment return assumption for these assets should not result in a lower reserve than an assumption based on a historical-return benchmark for public equities in the same jurisdiction. As a result, the
impact of changes in the historical returns for public equity benchmarks may result in an update to our investment return assumptions for ALDA. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Our liabilities are valued based on an assumed asset investment strategy over the long term. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We develop an investment strategy for the assets that back our liabilities. The strategy involves making assumptions on the
kind of assets in which we will invest and the returns such assets will generate. </P></TD></TR></TABLE> <P STYLE="font-size:0pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We may not be able to implement our investment strategy as intended due to a lack of assets available at the returns we
assume. This may result in a change in investment strategy and/or assumed future returns, thus adversely impacting our financial results. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">From time to time we may decide to adjust our portfolio asset mix which may result in adverse impacts to our financial
results for one or more periods. On December&nbsp;22, 2017, we announced our decision to reduce the allocation to ALDA in our portfolio asset mix resulting in a charge to net income attributed to shareholders in 4Q17 of approximately $1&nbsp;billion
<FONT STYLE="white-space:nowrap">post-tax.</FONT> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We experience foreign exchange risk as a substantial portion of our
business is transacted in currencies other than Canadian dollars. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our financial results are reported in Canadian dollars. A substantial portion of our business is transacted in currencies
other than Canadian dollars, mainly U.S. dollars, Hong Kong dollars and Japanese yen. If the Canadian dollar strengthens relative to these currencies, net income attributed to shareholders would decline and our reported shareholders&#146; equity
would decline. A weakening of the Canadian dollar against the foreign currencies in which we do business would have the opposite effect and would increase net income attributed to shareholders and shareholders&#146; equity. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>The Company&#146;s hedging strategies will not fully reduce the market risks related to the product guarantees and fees being hedged, hedging
costs may increase and the hedging strategies expose the Company to additional risks. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company&#146;s market risk hedging strategies include a variable annuity guarantee dynamic hedging strategy and a macro
equity risk hedging strategy. The variable annuity dynamic hedging strategy is designed to hedge the sensitivity of variable annuity guarantee policy liabilities to fund performance (both public equity and bond funds) and interest rate movements.
The macro equity risk hedging strategy is designed to hedge a portion of our earnings sensitivity to public equity market movements arising from variable annuity guarantees not dynamically hedged and directly held exposures. Some of the limitations
and risks associated with each strategy are described below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our hedging strategies rely on the execution of derivative transactions in a timely manner. Therefore, hedging costs and the
effectiveness of the strategy may be negatively impacted if markets for these instruments become illiquid. The Company is subject to the risk of increased funding and collateral demands which may become significant as equity markets increase.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company is also subject to counterparty risks arising from the derivative instruments and to the risk of increased
funding and collateral demands which may become significant as equity markets and interest rates increase. The strategies are highly dependent on complex systems and mathematical models that are subject to error and rely on forward-looking long-term
assumptions that may prove inaccurate, and which rely on sophisticated infrastructure and personnel which may fail or be unavailable at critical times. Due to the complexity of the strategies, there may be additional unidentified risks that may
negatively impact our business and future financial results. In addition, rising equity markets and interest rates that would otherwise result in profits on variable annuities will be offset by losses from our hedging positions. For further
information pertaining to counterparty risks, refer to the risk factor &#147;If a counterparty fails to fulfill its obligations we may be exposed to risks we had sought to mitigate&#148;. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Under certain market conditions, which include a sustained increase in realized equity and interest rate volatilities, a
decline in interest rates, or an increase in the correlation between equity returns and interest rate declines, the costs of hedging the benefit guarantees provided in variable annuities may increase or become uneconomic. In addition, there can be
no assurance that our dynamic hedging strategy will fully offset the risks arising from the variable annuities being hedged. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Policy liabilities and regulatory required capital for variable annuity guarantees are determined using long-term
forward-looking estimates of volatilities. These long-term forward-looking volatilities assumed for policy liabilities and required capital meet the CIA and OSFI calibration standards. To the extent that realized equity or interest rate volatilities
in any quarter exceed the assumed long-term volatilities, or correlations between interest rate changes and equity returns are higher, there is a risk that rebalancing will be greater and more frequent, resulting in higher hedging costs.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The level of guarantee claims returns or other benefits ultimately paid will be impacted by policyholder longevity and
policyholder activity including the timing and amount of withdrawals, lapses, fund transfers and contributions. The sensitivity of liability values to equity market and interest rate movements that we hedge are based on long-term expectations for
longevity and policyholder activity, since the impact of actual longevity and policyholder experience variances cannot be hedged using capital markets instruments. There is a risk that we may be unable to effectively or economically hedge products
which provide for guarantee claims, returns or other benefits. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>77</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Changes in market interest rates may impact our net income attributed to shareholders and
capital ratios. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">A prolonged low interest rate environment may result in charges related to lower fixed income reinvestment assumptions and
an increase in new business strain until products are repositioned for the lower rate environment. Other potential consequences of low interest rates include: </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Low interest rates could negatively impact sales; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Lower risk-free rates tend to increase the cost of hedging, and as a result the offering of guarantees could become
uneconomic; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The reinvestment of cash flows into low yielding bonds could result in lower future earnings on surplus;
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">A lower interest rate environment could be correlated with other macro-economic factors including unfavourable economic
growth and lower returns on other asset classes; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Lower interest rates could contribute to potential impairments of goodwill; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Lower interest rates could lead to lower mean bond parameters used for the stochastic valuation of segregated fund
guarantees, resulting in higher policy liabilities; </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Lower interest rates would also reduce expected earnings on <FONT STYLE="white-space:nowrap">in-force</FONT> policies, which
would reduce core earnings, lower net income attributed to shareholders and may increase new business strain until products are repositioned for the lower rate environment; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">A prolonged low interest environment may also result in the Actuarial Standards Board lowering the promulgated Ultimate
Reinvestment Rate (&#147;URR&#148;) and require us to increase our provisions; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The difference between the current investable returns and the returns used in pricing new business are generally capitalized
when new business is written. Lower interest rates result in higher new business strain until products are <FONT STYLE="white-space:nowrap">re-priced</FONT> or interest rates increase; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Fixed income reinvestment rates other than the URR are based on current market rates. The net income sensitivity to changes
in current rates is outlined in the section &#147;Interest Rate and Spread Risk Sensitivities and Exposure Measures&#148; above. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">A rapid rise in interest rates may also result in losses attributable to early liquidation of fixed income instruments
supporting contractual surrender benefits if customers surrender to take advantage of higher interest rates on offer elsewhere. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>With the continued production of LIBOR not guaranteed beyond 2021, the transition to alternative reference rates may adversely impact the valuation of our LIBOR-based financial instruments. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company uses London Interbank Offered Rate (&#147;LIBOR&#148;) based derivatives for the management of our interest rate
risk and is reliant on the continued use of LIBOR as a reference rate in the marketplace. The Chief Executive of the U.K. Financial Conduct Authority (&#147;FCA&#148;) has announced that, after 2021, the FCA would no longer use its power to persuade
or compel panel banks to submit rate information used to determine LIBOR. To address the increased risk that LIBOR may not exist beyond 2021, public / private sector working groups have been formed in major currency jurisdictions to identify
alternative reference rate benchmarks in currencies for which LIBOR is quoted. Any transition of LIBOR to an alternative reference rate may adversely affect the valuation of our existing debt securities and derivatives and the effectiveness of those
derivatives in mitigating our risks. Furthermore, depending on the nature of the alternative reference rate, we may become exposed to additional risks from new debt or derivative transactions. The nature of these additional risks is yet to be
estimated as the alternative reference rates are still being developed and published. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>AFS investments are recorded at fair
value, but losses arising on those investments may not have been recorded in income. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Some of our investments are classified as AFS. AFS debt securities are recorded at fair value, but unrealized gains and
losses are recorded in a separate component of equity and are not charged to net income attributed to shareholders while they are fully included in the LICAT available capital. Unrealized gains are recorded in net income attributed to shareholders
when the related asset is sold. Unrealized losses are recorded in net income attributed to shareholders either when the related asset is sold or when the related asset is considered impaired and the impairment is not considered to be temporary.
Should market levels decline, impairments may be judged to be other than temporary and part or all of any unrealized losses may be charged against future income as a result. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our valuation of certain financial instruments may include methodologies, estimations and assumptions which are subjective
in nature. Changes to investment valuations may arise in the future which materially adversely affect our results of operations and financial condition. </P></TD></TR></TABLE> <P STYLE="font-size:0pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The fair value for certain of our investments that are not actively traded is determined using models and other valuation
techniques. These values therefore incorporate considerable judgment and involve making estimates including those related to the timing and amounts of expected future cash flows and the credit standing of the issuer or counterparty. The use of
different methodologies and assumptions may have a material effect on the estimated fair value amounts. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Significant market disruption could result in rapidly widening credit spreads and illiquidity, volatile markets and for some
instruments significantly reduced trading activity. It has been and may continue to be difficult to value certain of our securities if trading is less active and/or market data is harder to observe. Consequently, valuations may include inputs and
assumptions that are less observable or require greater estimation thereby resulting in values which may differ materially from the value at which the investments may be ultimately sold. Further, rapidly changing credit and equity market conditions
could materially impact the valuation of securities as reported within our Consolidated Financial Statements and the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">period-to-period</FONT></FONT> changes in value could vary
significantly. Decreases in value that become recognizable in future periods could have a material adverse effect on our results of operations and financial condition. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>78</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Liquidity Risk Factor </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Liquidity risk is impacted by various factors, including but not limited to, capital and credit market conditions,
<FONT STYLE="white-space:nowrap">re-pricing</FONT> risk on letters of credit, collateral pledging obligations, and reliance on confidence sensitive deposits. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Adverse market conditions may significantly affect our liquidity risk. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Reduced asset liquidity may restrict our ability to sell certain types of assets for cash without taking significant losses.
If providers of credit preserve their capital, our access to borrowing from banks and others or access to other types of credit such as letters of credit, may be reduced. If investors have a negative perception of our creditworthiness, this may
reduce access to wholesale borrowing in the debt capital markets or increase borrowing costs. Should large and unexpected cash outflows occur, exceeding our worst-case stress testing, we may be forced to sell assets at a loss or raise additional
funds at significant cost in order to meet our liquidity needs. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We are dependent on cash flow from operations, a pool of highly liquid money market securities and holdings of sovereign
bonds, near-sovereign bonds and other liquid marketable securities to provide liquidity. We need liquidity to meet our payment obligations including those related to insurance and annuity benefits, cashable liabilities, our operating expenses,
interest on our debt, dividends on our equity capital, and to replace maturing and certain callable liabilities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Liquid assets are also required to pledge as collateral to support activities such as the use of derivatives for hedging
purposes and to cover cash settlement associated with such derivatives. Dodd-Frank has increased the number of derivatives transactions that must be cleared through regulated clearinghouses and has therefore increased our liquidity risk (as such
cleared derivatives are subject to both initial margin and variation margin requirements, and a more restrictive set of eligible collateral than <FONT STYLE="white-space:nowrap">non-cleared</FONT> derivatives). In addition, variation margin rules
for <FONT STYLE="white-space:nowrap">non-cleared</FONT> derivatives (including eligible collateral restrictions) have further increased our liquidity risk. The principal sources of our liquidity are cash and our assets that are readily convertible
into cash, including insurance and annuity premiums, fee income earned on AUM, money market securities, and cash flow from our investment portfolio. The issuance of long-term debt, common and preferred shares and other capital securities may also
increase our available liquid assets or be required to replace certain maturing or callable liabilities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">In the event we seek additional financing, the availability and terms of such financing will depend on a variety of factors
including market conditions, the availability of credit to the financial services industry, our credit ratings and credit capacity, as well as the possibility that customers, lenders or investors could develop a negative perception of our long-term
or short-term financial prospects if we incur large financial losses or if the level of our business activity decreases further due to a significant market downturn. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We are exposed to <FONT STYLE="white-space:nowrap">re-pricing</FONT> risk on letters of credit. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">In the normal course of business, third-party banks issue letters of credit on our behalf. In lieu of posting collateral,
our businesses utilize letters of credit for which third parties are the beneficiaries, as well as for affiliate reinsurance transactions between subsidiaries of MFC. Letters of credit and letters of credit facilities must be renewed periodically.
At time of renewal, the Company is exposed to <FONT STYLE="white-space:nowrap">re-pricing</FONT> risk and under adverse conditions increases in costs may be realized. In the most extreme scenarios, letters of credit capacity could become constrained
due to <FONT STYLE="white-space:nowrap">non-renewals</FONT> which would restrict our flexibility to manage capital. This could negatively impact our ability to meet local capital requirements or our sales of products in jurisdictions in which our
operating companies have been affected. As at December&nbsp;31, 2018, letters of credit for which third parties are beneficiary, in the amount of $74&nbsp;million, were outstanding. There were no assets pledged against these outstanding letters of
credit as at December&nbsp;31, 2018. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our obligations to pledge collateral or make payments related to declines in value of specified assets may adversely affect
our liquidity. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">In the normal course of business, we are obligated to pledge assets to comply with jurisdictional regulatory and other
requirements including collateral pledged in relation to derivative contracts and assets held as collateral for repurchase funding agreements. The amount of collateral we may be required to post under these agreements, and the amount of payments we
are required to make to our counterparties, may increase under certain circumstances, including a sustained or continued decline in the value of our derivative contracts. Such additional collateral requirements and payments could have an adverse
effect on our liquidity. As at December&nbsp;31, 2018, total pledged assets were $5,041 million, compared with $4,633&nbsp;million in 2017. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our banking subsidiary relies on confidence sensitive deposits and this increases our liquidity risk. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Manulife Bank is a wholly-owned subsidiary of our Canadian life insurance operating company, MLI. The Bank is principally
funded by retail deposits. A real or perceived problem with the Bank or its parent companies could result in a loss of confidence in the Bank&#146;s ability to meet its obligations, which in turn may trigger a significant withdrawal of deposit
funds. A substantial portion of the Bank&#146;s deposits are demand deposits that can be withdrawn at any time, while the majority of the Bank&#146;s assets are first residential mortgages in the form of home equity lines of credit, which represent
long-term funding obligations. If deposit withdrawal speeds exceed our extreme stress test assumptions the Bank may be forced to sell assets at a loss to third parties or call the home equity lines of credit. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>79</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As a holding company, MFC depends on the ability of its subsidiaries to transfer funds to it
to meet MFC&#146;s obligations and pay dividends. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">MFC is a holding company and relies on dividends and interest payments from our insurance and other subsidiaries as the
principal source of cash flow to meet MFC&#146;s obligations and pay dividends. As a result, MFC&#146;s cash flows and ability to service its obligations are dependent upon the earnings of its subsidiaries and the distribution of those earnings and
other funds by its subsidiaries to MFC. Substantially all of MFC&#146;s business is currently conducted through its subsidiaries. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The ability of our holding company to fund its cash requirements depends upon it receiving dividends, distributions and
other payments from our operating subsidiaries. The ability of MFC&#146;s insurance subsidiaries to pay dividends to MFC in the future will depend on their earnings and regulatory restrictions. These subsidiaries are subject to a variety of
insurance and other laws and regulations that vary by jurisdiction and are intended to protect policyholders and beneficiaries in that jurisdiction first and foremost, rather than investors. These subsidiaries are generally required to maintain
solvency and capital standards as set by their local regulators and may also be subject to other regulatory restrictions, all of which may limit the ability of subsidiary companies to pay dividends or make distributions to MFC. Such limits, could
have a material adverse effect on MFC&#146;s liquidity, including its ability to pay dividends to shareholders and service its debt. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The potential changes to regulatory capital and actuarial and accounting standards could also limit the ability of the
insurance subsidiaries to pay dividends or make distributions and could have a material adverse effect on MFC&#146;s liquidity and on internal capital mobility, including on MFC&#146;s ability to pay dividends to shareholders and service its debt.
We may be required to raise additional capital, which could be dilutive to existing shareholders, or to limit the new business we write, or to pursue actions that would support capital needs but adversely impact our subsequent earnings potential. In
addition, the timing and outcome of these initiatives could have a significantly adverse impact on our competitive position relative to that of other Canadian and international financial institutions with which we compete for business and capital.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The payment of dividends to MFC by MLI is subject to restrictions set out in the ICA. The ICA prohibits the declaration or
payment of any dividend on shares of an insurance company if there are reasonable grounds for believing: (i)&nbsp;the company does not have adequate capital and adequate and appropriate forms of liquidity; or (ii)&nbsp;the declaration or the payment
of the dividend would cause the company to be in contravention of any regulation made under the ICA respecting the maintenance of adequate capital and adequate and appropriate forms of liquidity, or of any direction made to the company by the
Superintendent. All of our U.S. and Asian operating life insurance companies are subsidiaries of MLI. Accordingly, a restriction on dividends from MLI would restrict MFC&#146;s ability to obtain dividends from its U.S. and Asian businesses.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Certain of MFC&#146;s U.S. insurance subsidiaries also are subject to insurance laws in Michigan, New York and
Massachusetts, the jurisdictions in which these subsidiaries are domiciled, which impose general limitations on the payment of dividends and other upstream distributions by these subsidiaries to MLI. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our Asian insurance subsidiaries are also subject to restrictions in the jurisdictions in which these subsidiaries are
domiciled which could affect their ability to pay dividends to MLI in certain circumstances. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company seeks to maintain capital in its insurance subsidiaries in excess of the minimum required in all jurisdictions
in which the Company does business. The minimum requirements in each jurisdiction may increase due to regulatory changes and we may decide to maintain additional capital in our operating subsidiaries to fund expected growth of the business or to
deal with changes in the risk profile of such subsidiaries. Any such increases in the level of capital may reduce the ability of the operating companies to pay dividends and have a material adverse effect on MFC&#146;s liquidity.
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>The declaration and payment of dividends and the amount thereof is subject to change. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The holders of common shares are entitled to receive dividends as and when declared by the Board of Directors of MFC,
subject to the preference of the holders of Class&nbsp;A Shares, Class&nbsp;1 Shares, Class&nbsp;B Shares (collectively, the &#147;Preferred Shares&#148;) and any other shares ranking senior to the common shares with respect to priority in payment
of dividends. The declaration and payment of dividends and the amount thereof is subject to the discretion of the Board of Directors of MFC and is dependent upon the results of operations, financial condition, cash requirements and future prospects
of, and regulatory and contractual restrictions on the payment of dividends by MFC and other factors deemed relevant by the Board of Directors of MFC. Although MFC has historically declared quarterly cash dividends on the common shares, MFC is not
required to do so and the Board of Directors of MFC may reduce, defer or eliminate MFC&#146;s common share dividend in the future. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The foregoing risk disclosure in respect of the declaration and payment of dividends on the common shares applies equally in
respect of the declaration and payment of dividends on the Preferred Shares, notwithstanding that the Preferred Shares have a fixed rate of dividend. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">See &#147;Government Regulation&#148; and &#147;Dividends&#148; in MFC&#146;s Annual Information Form dated
February&nbsp;13, 2019 for a summary of additional statutory and contractual restrictions concerning the declaration of dividends by MFC. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT
 COLOR="#2a517f"><B>Credit Risk Factors </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Worsening regional and global economic conditions or the rise in interest rates could result in borrower or
counterparty defaults or downgrades and could lead to increased provisions or impairments related to our general fund invested assets and <FONT STYLE="white-space:nowrap">off-balance</FONT> sheet derivative financial instruments, and an increase in
provisions for future credit impairments to be included in our policy liabilities. Any of our reinsurance providers being unable or unwilling to fulfill their contractual obligations related to the liabilities we cede to them could lead to an
increase in policy liabilities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our invested assets primarily include investment grade bonds, private placements, commercial mortgages, asset-backed securities, and
consumer loans. These assets are generally carried at fair value, but changes in value that arise from a credit-related impairment are </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>80</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">
recorded as a charge against income. The return assumptions incorporated in actuarial liabilities include an expected level of future asset impairments. There is a risk that actual impairments
will exceed the assumed level of impairments in the future and earnings could be adversely impacted. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Volatility may arise from defaults and downgrade charges on our
invested assets and as a result, losses could potentially rise above long-term expected levels. Net impaired fixed income assets were $179 million, representing 0.05% of total general fund invested assets as at December&nbsp;31, 2018, compared with
$173&nbsp;million, representing 0.05% of total general fund invested assets as at December&nbsp;31,&nbsp;2017. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>If a counterparty fails to
fulfill its obligations we may be exposed to risks we had sought to mitigate. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company uses derivative financial instruments to mitigate exposures to public equity, foreign currency, interest rate
and other market risks arising from <FONT STYLE="white-space:nowrap">on-balance</FONT> sheet financial instruments, guarantees related to variable annuity products, selected anticipated transactions and certain other guarantees. The Company may be
exposed to counterparty risk if a counterparty fails to pay amounts owed to us or otherwise perform its obligations to us. Counterparty risk increases during economic downturns because the probability of default increases for most counterparties. If
any of these counterparties default, we may not be able to recover the amounts due from that counterparty. As at December&nbsp;31, 2018, the largest single counterparty exposure without taking into account the impact of master netting agreements or
the benefit of collateral held, was $2,269&nbsp;million (2017 &#150; $2,629 million). The net exposure to this counterparty, after taking into account master netting agreements and the fair value of collateral held, was nil (2017 &#150; nil). As at
December&nbsp;31, 2018, the total maximum credit exposure related to derivatives across all counterparties, without taking into account the impact of master netting agreements and the benefit of collateral held, was $14,320&nbsp;million (2017 &#150;
$16,204 million) compared with $245&nbsp;million after taking into account master netting agreements and the benefit of fair value of collateral held (2017 &#150; $95 million). The exposure to any counterparty would grow if, upon the
counterparty&#146;s default, markets moved such that our derivatives with that counterparty gain in value. Until we are able to replace that derivative with another counterparty, the gain on the derivatives subsequent to the counterparty&#146;s
default would not be backed by collateral. The Company reinsures a portion of the business we enter into; however, we remain legally liable for contracts that we had reinsured. In the event that any of our reinsurance providers were unable or
unwilling to fulfill their contractual obligations related to the liabilities we cede to them, we would need to increase actuarial reserves, adversely impacting our net income attributed to shareholders and capital position. In addition, the Company
has over time sold certain blocks of business to third-party purchasers using reinsurance. To the extent that the reinsured contracts are not subsequently novated to the purchasers, we remain legally liable to the insureds. Should the purchasers be
unable or unwilling to fulfill their contractual obligations under the reinsurance agreement, we would need to increase policy liabilities resulting in a charge to net income attributed to shareholders. To reduce credit risk, the Company may require
purchasers to provide collateral for their reinsurance liabilities. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We participate in a securities lending program whereby blocks of securities are loaned to third parties, primarily major
brokerage firms and commercial banks. Collateral, which exceeds the market value of the loaned securities, is retained by the Company until the underlying security has been returned. If any of our securities lending counterparties default and the
value of the collateral is insufficient, we would incur losses. As at December&nbsp;31, 2018, the Company had loaned securities (which are included in invested assets) valued at approximately $1,518 million, compared with $1,563&nbsp;million at
December&nbsp;31, 2017. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>The determination of allowances and impairments on our investments is subjective and changes could
materially impact our results of operations or financial position. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The determination of allowances and impairments is based upon a periodic evaluation of known and inherent risks associated
with the respective security. Management considers a wide range of factors about the security and uses its best judgment in evaluating the cause of the decline, in estimating the appropriate value for the security and in assessing the prospects for
near-term recovery. Inherent in management&#146;s evaluation of the security are assumptions and estimates about the operations of the issuer and its future earnings potential. Considerations in the impairment evaluation process include:
(i)&nbsp;the severity of the impairment; (ii)&nbsp;the length of time and the extent to which the market value of a security has been below its carrying value; (iii)&nbsp;the financial condition of the issuer; (iv)&nbsp;the potential for impairments
in an entire industry sector or <FONT STYLE="white-space:nowrap">sub-sector;</FONT> (v)&nbsp;the potential for impairments in certain economically depressed geographic locations; (vi)&nbsp;the potential for impairments of securities where the
issuer, series of issuers or industry has suffered a catastrophic type of loss or has exhausted natural resources; (vii)&nbsp;our ability and intent to hold the security for a period of time sufficient to allow for the recovery of its value to an
amount equal to or greater than cost or amortized cost; (viii)&nbsp;unfavourable changes in forecasted cash flows on mortgage-backed and asset-backed securities; and (ix)&nbsp;other subjective factors, including concentrations and information
obtained from regulators and rating agencies. </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Such evaluations and assessments are revised as conditions change and new information becomes available. We update our
evaluations regularly and reflect changes in allowances and impairments as such evaluations warrant. The evaluations are inherently subjective and incorporate only those risk factors known to us at the time the evaluation is made. There can be no
assurance that management has accurately assessed the level of impairments that have occurred. Additional impairments will likely need to be taken or allowances provided for in the future as conditions evolve. Historical trends may not be indicative
of future impairments or allowances. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Product Risk Factors </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We make a variety of assumptions related to the future level of claims, policyholder behaviour, expenses, reinsurance costs and sales levels when we design and price
products, and when we establish policy liabilities. Assumptions for future claims are generally based on both Company and industry experience, and assumptions for future policyholder behaviour and expenses are generally based on
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>81</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">
Company experience. Assumptions for future policyholder behaviour include assumptions related to the retention rates for insurance and wealth products. Assumptions for expenses include
assumptions related to future maintenance expense levels and volume of the business. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Losses may result should actual experience be
materially different than that assumed in the valuation of policy liabilities. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Such losses could have a significant adverse effect on our results of operations and financial condition. In addition, we
periodically review the assumptions we make in determining our policy liabilities and the review may result in an increase in policy liabilities and a decrease in net income attributed to shareholders. Such assumptions require significant
professional judgment, and actual experience may be materially different than the assumptions we make. (See &#147;Critical Actuarial and Accounting Policies&#148; above.) </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We may be unable to implement necessary price increases on our <FONT STYLE="white-space:nowrap">in-force</FONT> businesses or may face delays in
implementation. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We continue to seek state regulatory approvals for price increases on existing long-term care business in the United States.
We cannot be certain whether or when each approval will be granted. For some <FONT STYLE="white-space:nowrap">in-force</FONT> business regulatory approval for price increases may not be required. However, regulators or policyholders may nonetheless
seek to challenge our authority to implement such increases. Our policy liabilities reflect our estimates of the impact of these price increases, but should we be less successful than anticipated in obtaining them, then policy liabilities could
increase accordingly and reduce net income attributed to shareholders. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Evolving legislation related to genetic testing
could adversely impact our underwriting abilities. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Current or future legislation in jurisdictions where Manulife operates may restrict its right to underwrite based on access
to genetic test results. Without the obligation of disclosure, the asymmetry of information shared between applicant and insurer could increase anti-selection in both new business and <FONT STYLE="white-space:nowrap">in-force</FONT> policyholder
behaviour. The impact of restricting insurers&#146; access to this information and the associated problems of anti-selection becomes more acute where genetic technology leads to advancements in diagnosis of life-threatening conditions that are not
matched by improvements in treatment. We cannot predict the potential financial impact that this would have on the Company or the industry as a whole. In addition, there may be further unforeseen implications as genetic testing continues to evolve
and becomes more established in mainstream medical practice. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Life and health insurance claims may be impacted unexpectedly
by changes in the prevalence of diseases or illnesses, medical and technology advances, widespread lifestyle changes, natural disasters, large-scale <FONT STYLE="white-space:nowrap">man-made</FONT> disasters and acts of terrorism. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The cost of health insurance benefits may be impacted by unforeseen trends in the incidence, termination and severity rates
of claims. The ultimate level of lifetime benefits paid to policyholders may be increased by an unexpected increase in life expectancy. For example, advances in technology could lead to longer lives through better medical treatment or better disease
prevention. Policyholder behaviour including premium payment patterns, policy renewals, lapse rates and withdrawal and surrender activity are influenced by many factors including market and general economic conditions, and the availability and
relative attractiveness of other products in the marketplace. For example, a weak or declining economic environment could increase the value of guarantees associated with variable annuities or other embedded guarantees and contribute to adverse
policyholder behaviour experience, or a rapid rise in interest rates could increase the attractiveness of alternatives for customers holding products that offer contractual surrender benefits that are not market value adjusted, which could also
contribute to adverse policyholder behaviour experience. As well, adverse claims experience could result from systematic anti-selection, which could arise from the development of investor owned and secondary markets for life insurance policies,
anti-selective lapse behaviour, underwriting process failures, anti-selective policyholder behaviour due to greater consumer accessibility to home-based medical screening, or other factors. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>External market conditions determine the availability, terms and cost of reinsurance protection which could impact our financial position and our
ability to write new policies. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">As part of our overall risk and capital management strategy, we purchase reinsurance protection on certain risks
underwritten or assumed by our various insurance businesses. As the global reinsurance industry continues to review and optimize their business models, certain of our reinsurers have attempted to increase rates on our existing reinsurance contracts.
The ability of our reinsurers to increase rates depends upon the terms of each reinsurance contract. Typically, the reinsurer&#146;s ability to raise rates is restricted by a number of terms in our reinsurance contracts, which we seek to enforce. We
believe our reinsurance provisions are appropriate at December&nbsp;31, 2018; however, there can be no assurance regarding the impact of future rate increase actions taken by our reinsurers. Accordingly, future rate increase actions by our
reinsurers could result in accounting charges, an increase in the cost of reinsurance, and the assumption of more risk on business already reinsured. </P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">In addition, an increase in the cost of reinsurance could also adversely affect our ability to write future business or
result in the assumption of more risk with respect to policies we issue. Premium rates charged on new policies we write are based, in part, on the assumption that reinsurance will be available at a certain cost. Certain reinsurers may attempt to
increase the rates they charge us for new policies we write, and for competitive reasons, we may not be able to raise the premium rates we charge for newly written policies to offset the increase in reinsurance rates. If the cost of reinsurance were
to increase, if reinsurance were to become unavailable, and if alternatives to reinsurance were not available, our ability to write new policies at competitive premium rates could be adversely affected. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>82</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Operational Risk Factors </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Operational risk is naturally present in all of our business activities and encompasses a broad range of risks, including regulatory compliance failures, legal disputes,
technology failures, business interruption, information security and privacy breaches, human resource management failures, processing errors, modelling errors, business integration, theft and fraud, and damage to physical assets. Exposures can take
the form of financial losses, regulatory sanctions, loss of competitive positioning, or damage to our reputation. Operational risk is also embedded in all the practices we use to manage other risks; therefore, if not managed effectively, operational
risk can impact our ability to manage other key risks such as credit risk, market risk, liquidity risk and insurance risk. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Adverse
publicity, litigation or regulatory action resulting from our business practices or actions by our employees, representatives and/or business partners, could erode our corporate image and damage our franchise value and/or create losses.
</B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Manulife&#146;s reputation is one of its most valuable assets. Harm to a company&#146;s reputation is often a consequence of
risk control failure, whether associated with complex financial transactions or relatively routine operational activities. Manulife&#146;s reputation could also be harmed by the actions of third parties with whom we do business. Our representatives
include affiliated broker-dealers, agents, wholesalers and independent distributors, such as broker-dealers and banks, whose services and representations our customers rely on. Business partners include, among others, third parties to whom we
outsource certain functions and that we rely on to fulfill various obligations. </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">If any of these representatives or business partners fail to adequately perform their responsibilities, or monitor its own
risk, these failures could affect our business reputation and operations. While we seek to maintain adequate internal risk management policies and procedures and protect against performance failures, events may occur that could cause us to lose
customers or suffer legal or regulatory sanctions, which could have a material adverse effect on our reputation, our business, and our results of operations. For further discussion of government regulation and legal proceedings refer to
&#147;Government Regulation&#148; in MFC&#146;s Annual Information Form dated February&nbsp;13, 2019 and note&nbsp;18 of the 2018 Annual Consolidated Financial Statements. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>If we are not able to attract, motivate and retain agency leaders and individual agents, our competitive position, growth and profitability will
suffer. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We must attract and retain sales representatives to sell our products. Strong competition exists among financial services
companies for efficient and effective sales representatives. We compete with other financial services companies for sales representatives primarily on the basis of our financial position, brand, support services and compensation and product
features. Any of these factors could change either because we change the Company or our products, or because our competitors change theirs and we are unable or unwilling to adapt. If we are unable to attract and retain sufficient sales
representatives to sell our products, our ability to compete and revenues from new sales would suffer, which could have a material adverse effect on our business, results of operations and financial condition. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>If we are unable to complete key projects on time, on budget, and capture planned benefits, our business strategies and plans, and operations may
be impaired. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We must successfully deliver a number of key projects in order to implement our business strategies and plans. If we are
unable to complete these projects in accordance with planned schedules, and to capture projected benefits, there could be a material adverse effect on our business and financial condition. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>The interconnectedness of our operations and risk management strategies could expose us to risk if all factors are not appropriately considered
and communicated. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our business operations, including strategies and operations related to risk management, asset liability management and
liquidity management, are interconnected and increasingly complex. Changes in one area may have a secondary impact in another area of our operations. For example, risk management actions, such as the increased use of interest rate swaps, could have
implications for the Company&#146;s Global Wealth and Asset Management Segment or its Treasury function, as this strategy could result in the need to post additional amounts of collateral. Failure to appropriately consider these inter-relationships,
or effectively communicate changes in strategies or activities across our operations, could have a negative impact on the strategic objectives or operations of another group. Further, failure to consider these inter-relationships in our modeling and
financial and strategic decision-making processes could have a negative impact on our operations. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Our risk management
policies, procedures and strategies may leave us exposed to unidentified or unanticipated risks, which could negatively affect our business, results of operations and financial condition. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We have devoted significant resources to develop our risk management policies, procedures and strategies and expect to
continue to do so in the future. Nonetheless, there is a risk that our policies, procedures and strategies may not be comprehensive. Many of our methods for measuring and managing risk and exposures are based upon the use of observed historical
market behaviour or statistics based on historical models. Future behaviour may be very different from past behaviour, especially if there are some fundamental changes that affect future behaviour. As an example, the increased occurrence of negative
interest rates can make it difficult to model future interest rates as interest rate models have been generally developed for an environment of positive interest rates. As a result, these methods may not fully predict future exposures, which can be
significantly greater than our historical measures indicate. Other risk management methods depend upon the evaluation and/or reporting of information regarding markets, clients, client transactions, catastrophe occurrence or other matters publicly
available or otherwise accessible to us. This information may not always be accurate, complete, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">up-to-date</FONT></FONT> or properly evaluated or reported. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>83</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We are subject to tax audits, tax litigation or similar proceedings, and as a result we may
owe additional taxes, interest and penalties in amounts that may be material. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We are subject to income and other taxes in the jurisdictions in which we do business. In determining our provisions for
income taxes and our accounting for <FONT STYLE="white-space:nowrap">tax-related</FONT> matters in general, we are required to exercise judgment. We regularly make estimates where the ultimate tax determination is uncertain. There can be no
assurance that the final determination of any tax audit, appeal of the decision of a taxing authority, tax litigation or similar proceedings will not be materially different from that reflected in our historical financial statements. The assessment
of additional taxes, interest and penalties could be materially adverse to our current and future results of operations and financial condition. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Our <FONT STYLE="white-space:nowrap">non-North</FONT> American operations face political, legal, operational and other risks that could negatively affect those operations or our results of operations and financial condition.
</B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">A substantial portion of our revenue and net income attributed to shareholders is derived from our operations outside of
North America, primarily in key Asian markets. Some of these key geographical markets are developing and are rapidly growing countries and markets that present unique risks that we do not face, or are negligible, in our operations in Canada or the
U.S. Our operations outside of North America face the risk of discriminatory regulation, political and economic instability, market volatility and significant inflation, limited protection for, or increased costs to protect intellectual property
rights, inability to protect and/or enforce contractual or legal rights, nationalization or expropriation of assets, price controls and exchange controls or other restrictions that prevent us from transferring funds from these operations out of the
countries in which they operate or converting local currencies we hold into Canadian or U.S. dollars. Failure to manage these risks could have a significant negative impact on our operations and profitability. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We are currently planning to expand our global operations in markets where we operate and potentially in new markets. This
may require considerable management time, as well as <FONT STYLE="white-space:nowrap">start-up</FONT> expenses for market development before any significant revenues and earnings are generated. Operations in new foreign markets may achieve low
margins or may be unprofitable, and expansion in existing markets may be affected by local economic and market conditions. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We are regularly involved in litigation. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We are regularly involved in litigation, either as a plaintiff or defendant. These cases could result in an unfavourable
resolution and could have a material adverse effect on our results of operations and financial condition. For further discussion of legal proceedings refer to note&nbsp;18 of the 2018 Annual Consolidated Financial Statements. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>We are exposed to investors trying to profit from short positions in our stock. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Short sellers seek to profit from a decline in the price of our common shares. Through their actions and public statements,
they may encourage the decline in price from which they profit and may encourage others to take short positions in our shares. The existence of such short positions and the related publicity may lead to continued volatility in our common share
price. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>System failures or events that impact our facilities may disrupt business operations. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Technology is used in virtually all aspects of our business and operations; in addition, part of our strategy involves the
expansion of technology to directly serve our customers. An interruption in the service of our technology resulting from system failure, cyber-attack, human error, natural disaster, <FONT STYLE="white-space:nowrap">man-made</FONT> disaster,
pandemic, or other unpredictable event beyond reasonable control could prevent us from effectively operating our business. </P></TD></TR></TABLE> <P STYLE="font-size:0pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">While our facilities and operations are distributed across the globe, we can experience extreme weather, natural disasters,
civil unrest, <FONT STYLE="white-space:nowrap">man-made</FONT> disasters, power outages, pandemic, and other events which can prevent access to, and operations within, the facilities for our employees, partners, and other parties that support our
business operations. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We take measures to plan, structure and protect against routine events that may impact our operations, and maintain plans to
recover from unpredictable events. An interruption to our operations may subject us to regulatory sanctions and legal claims, lead to a loss of customers, assets and revenues, result in unauthorized disclosures of personal or confidential
information, or otherwise adversely affect us from a financial, operational and reputational perspective. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>An information
security or privacy breach of our operations or of a related third party could adversely impact our business, results of operations, financial condition, and reputation. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">It is possible that the Company may not be able to anticipate or to implement effective preventive measures against all
disruptions or privacy and security breaches, especially because the techniques used change frequently, generally increase in sophistication, often are not recognized until launched, and because cyber-attacks can originate from a wide variety of
sources, including organized crime, hackers, terrorists, activists, and other external parties, including parties sponsored by hostile foreign governments. Those parties may also attempt to fraudulently induce employees, customers, and other users
of the Company&#146;s systems or third-party service providers to disclose sensitive information in order to gain access to the Company&#146;s data or that of its customers or clients. We, our customers, regulators and other third parties have been
subject to, and are likely to continue to be the target of, cyber-attacks, including computer viruses, malicious or destructive code, phishing attacks, denial of service and other security incidents, that could result in the unauthorized release,
gathering, monitoring, misuse, loss or destruction of personal, confidential, proprietary and other information of the Company, our employees, our customers or of third parties, or otherwise materially disrupt our or our customers&#146; or other
third parties&#146; network access or business operations. These attacks could adversely impact us from a financial, operational and reputational perspective. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>84</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The Company has an Information Risk Management Program, which includes information and cyber security defenses, to protect
our networks and systems from attacks; however, there can be no assurance that these counter measures will be successful in every instance in protecting our networks against advanced attacks. In addition to protection, detection and response
mechanisms, the Company maintains cyber risk insurance, but this insurance may not cover all costs associated with the financial, operational and reputational consequences of personal, confidential or proprietary information being compromised.
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Competition for the best people is intense and an inability to recruit qualified individuals may negatively impact our
ability to execute on business strategies or to conduct our operations. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We compete with other insurance companies and financial institutions for qualified executives, employees and agents. We must
attract and retain top talent to maintain our competitive advantage. Failure to attract and retain the best people could adversely impact our business. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Model risk may arise from the inappropriate use or interpretation of models or their output, or the use of deficient models, data or assumptions.
</B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We are relying on some highly complex models for pricing, valuation and risk measurement, and for input to decision making.
Consequently, the risk of inappropriate use or interpretation of our models or their output, or the use of deficient models, could have a material adverse effect on our business. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">We are continuing to enhance our valuation models and processes across the organization. We do not expect this initiative to
result in significant reserve adjustments. However, as we systematically review our models, there could be updates to our assumptions and methodologies that result in reserve changes. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Fraud risks may arise from incidents related to identity theft and account takeovers. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Policies and procedures are in place to prevent and detect fraud incidents; however, our existing control environment may
not be able to mitigate all possible incidents, which could adversely impact our business, results of operations, financial condition, and reputation. Policies and procedures are being reviewed to enhance our capabilities to better protect against
more sophisticated fraud threats, but we may nevertheless not be able to mitigate all possible incidents. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Environmental
risk may arise related to our commercial mortgage loan portfolio and owned property or from our business operations. </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Environmental risk may originate from investment properties that are subject to natural or
<FONT STYLE="white-space:nowrap">man-made</FONT> environmental risk. Real estate assets may be owned, leased and/or managed, as well as mortgaged by Manulife and we might enter into the chain of liability due to foreclosure ownership when in
default. </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Liability under environmental protection laws resulting from our commercial mortgage loan portfolio and owned property
(including commercial real estate, oil and gas, timberland and farmland properties) may adversely impact our reputation, results of operations and financial condition. Under applicable laws, contamination of a property with hazardous materials or
substances may give rise to a lien on the property to secure recovery of the costs of cleanup. In some instances, this lien has priority over the lien of an existing mortgage encumbering the property. The environmental risk may result from <FONT
STYLE="white-space:nowrap">on-site</FONT> or <FONT STYLE="white-space:nowrap">off-site</FONT> (adjacent) due to migration of regulated pollutants or contaminates with financial or reputational environmental risk and liability consequences by virtue
of strict liability. Environmental risk could also arise from natural disasters (e.g., climate change, weather, fire, earthquake, floods, pests) or human activities (use of chemicals, pesticides) conducted within the site or when impacted from
adjacent sites. </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Additionally, as lender, we may incur environmental liability (including without limitation liability for <FONT
STYLE="white-space:nowrap">clean-up,</FONT> remediation and damages incurred by third parties) similar to that of an owner or operator of the property, if we or our agents exercise sufficient control over the operations at the property. We may also
have liability as the owner and/or operator of real estate for environmental conditions or contamination that exist or occur on the property, or affecting other property. </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">In addition, failure to adequately prepare for the potential impacts of climate change may have a negative impact on our
financial position or our ability to operate. Potential impacts may be direct or indirect and may include business losses or disruption resulting from extreme weather conditions; the impact of changes in legal or regulatory framework made to address
climate change; or increased mortality or morbidity resulting from environmental damage or climate change. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Additional
Risk Factors That May Affect Future Results </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Other factors that may affect future results include changes in government trade policy, monetary policy or fiscal policy;
political conditions and developments in or affecting the countries in which we operate; technological changes; public infrastructure disruptions; changes in consumer spending and saving habits; the possible impact on local, national or global
economies from public health emergencies, such as an influenza pandemic, and international conflicts and other developments including those relating to terrorist activities. Although we take steps to anticipate and minimize risks in general,
unforeseen future events may have a negative impact on our business, financial condition and results of operations. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We caution that the preceding
discussion of risks that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to our Company, investors and others should carefully consider the foregoing risks, as well as other
uncertainties and potential events, and other external and Company specific risks that may adversely affect the future business, financial condition or results of operations of our Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>85</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_14"></A>Controls and Procedures </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Disclosure Controls and Procedures </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Our
disclosure controls and procedures are designed to provide reasonable assurance that information required to be disclosed by us is recorded, processed, summarized, and reported accurately and completely and within the time periods specified under
Canadian and U.S. securities laws. Our process includes controls and procedures that are designed to ensure that information is accumulated and communicated to management, including the CEO and CFO, to allow timely decisions regarding required
disclosure. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As of December&nbsp;31, 2018, management evaluated the effectiveness of its disclosure controls and procedures as defined under the rules adopted by the
U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities. This evaluation was performed under the supervision of the Audit Committee, the CEO and CFO. Based on that evaluation, the CEO and CFO concluded that our
disclosure controls and procedures were effective as at December&nbsp;31, 2018. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">MFC&#146;s Audit Committee has reviewed this MD&amp;A and the 2018 Consolidated
Financial Statements and MFC&#146;s Board of Directors approved these reports prior to their release. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Management&#146;s Report on
Internal Control over Financial Reporting </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Management is responsible for establishing and maintaining adequate internal control over financial reporting.
The Company&#146;s internal control system was designed to provide reasonable assurance to management and the Board of Directors regarding the preparation and fair presentation of published financial statements in accordance with generally accepted
accounting principles. All internal control systems, no matter how well designed, have inherent limitations due to manual controls. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to
financial statement preparation and presentation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Management maintains a comprehensive system of controls intended to ensure that transactions are executed in
accordance with management&#146;s authorization, assets are safeguarded, and financial records are reliable. Management also takes steps to ensure that information and communication flows are effective and to monitor performance, including
performance of internal control procedures. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Management assessed the effectiveness of the Company&#146;s internal control over financial reporting as of
December&nbsp;31, 2018 based on the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission 2013 framework in Internal Control &#150; Integrated Framework. Based on this assessment, management believes that, as of
December&nbsp;31, 2018, the Company&#146;s internal control over financial reporting is effective. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The effectiveness of the Company&#146;s internal control over
financial reporting as of December&nbsp;31, 2018 has been audited by Ernst&nbsp;&amp;&nbsp;Young LLP, the Company&#146;s independent registered public accounting firm that also audited the Consolidated Financial Statements of the Company for the
year ended December&nbsp;31, 2018. Their report expressed an unqualified opinion on the effectiveness of the Company&#146;s internal control over financial reporting as of December&nbsp;31, 2018. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Changes in Internal Control over Financial Reporting </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">No changes were made in our internal control over financial reporting during the year ended December&nbsp;31, 2018 that have materially affected, or are reasonably likely
to materially affect, our internal control over financial reporting. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>86</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_15"></A>Performance and
<FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Measures </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We use a number of <FONT STYLE="white-space:nowrap">non-GAAP</FONT> financial measures to
measure overall performance and to assess each of our businesses. A financial measure is considered a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure for Canadian securities law purposes if it is presented other than in accordance with
generally accepted accounting principles used for the Company&#146;s audited financial statements. <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> measures include: core earnings (loss); core ROE; diluted core earnings per common share; core
earnings before income taxes, depreciation and amortization (&#147;core EBITDA&#148;); core EBITDA margin; core investment gains, constant exchange rate basis (measures that are reported on a constant exchange rate basis include percentage
growth/decline in core earnings, sales, APE sales, gross flows, core EBITDA, new business value (&#147;NBV&#148;), new business value margin, assets under management, and assets under management and administration (&#147;AUMA&#148;)); assets under
administration; expense efficiency ratio; assets under management and administration; assets under management; consolidated capital; embedded value; new business value; new business value margin; sales; APE sales; gross flows; and net flows. <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> financial measures are not defined terms under GAAP and, therefore, are unlikely to be comparable to similar terms used by other issuers. Therefore, they should not be considered in isolation or as a
substitute for any other financial information prepared in accordance with GAAP. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Effective January&nbsp;1, 2018, the Company&#146;s reporting segments have been
reorganized as outlined under the &#147;Manulife Financial Corporation&#148; section at the beginning of the MD&amp;A. In addition, we made the following adjustments to our reporting: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The definition of the Global Wealth and Asset Management business now includes the Guaranteed Interest Account portion of
the Canadian Pension defined contribution business; </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The NBV calculation has been refined for our Canadian segregated fund guarantee business; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#1f320c"><SUP STYLE="font-size:85%; vertical-align:top">&#8718;</SUP>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The calculation of net flows and AUMA now includes the sale of <FONT STYLE="white-space:nowrap">non-proprietary</FONT>
products in Canada. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><B><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">Core earnings (loss)</FONT></B> is a
<FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure which we believe aids investors in better understanding the long-term earnings capacity and valuation of the business. Core earnings allows investors to focus on the Company&#146;s operating
performance by excluding the direct impact of changes in equity markets and interest rates, changes in actuarial methods and assumptions as well as a number of other items, outlined below, that we believe are material, but do not reflect the
underlying earnings capacity of the business. For example, due to the long-term nature of our business, the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> movements of equity markets, interest rates,
foreign currency exchange rates and commodity prices from <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">period-to-period</FONT></FONT> can, and frequently do, have a substantial impact on the reported amounts of our assets,
liabilities and net income attributed to shareholders. These reported amounts are not actually realized at the time and may never be realized if the markets move in the opposite direction in a subsequent period. This makes it very difficult for
investors to evaluate how our businesses are performing from <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">period-to-period</FONT></FONT> and to compare our performance with other issuers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We believe that core earnings better reflect the underlying earnings capacity and valuation of our business. We use core earnings as the basis for management planning and
reporting and, along with net income attributed to shareholders, as a key metric used in our short and <FONT STYLE="white-space:nowrap">mid-term</FONT> incentive plans at the total Company and operating segment level. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">While core earnings is relevant to how we manage our business and offers a consistent methodology, it is not insulated from macro-economic factors which can have a
significant impact. See &#147;Quarterly Financial Information&#148; below for reconciliation of core earnings to net income attributed to shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Any future
changes to the core earnings definition referred to below, will be disclosed. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Items included in core earnings: </B></FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Expected earnings on <FONT STYLE="white-space:nowrap">in-force</FONT> policies, including expected release of provisions
for adverse deviation, fee income, margins on group business and spread business such as Manulife Bank and asset fund management. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Macro hedging costs based on expected market returns. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">New business strain and gains. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Policyholder experience gains or losses. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Acquisition and operating expenses compared with expense assumptions used in the measurement of policy liabilities.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Up to $400&nbsp;million of net favourable investment-related experience reported in a single year, which are referred to
as &#147;core investment gains&#148;. This means up to $100&nbsp;million in the first quarter, up to $200&nbsp;million on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> basis in the second quarter, up
to $300&nbsp;million on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> basis in the third quarter and up to $400&nbsp;million on a full year basis in the fourth quarter. Any investment-related
experience losses reported in a quarter will be offset against the net <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> investment-related experience gains with the difference being included in core
earnings subject to a maximum of the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> core investment gains and a minimum of zero, which reflects our expectation that investment-related experience will be
positive <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">through-the-business</FONT></FONT> cycle. To the extent any investment-related experience losses cannot be fully offset in a quarter they will be carried forward to be offset
against investment-related experience gains in subsequent quarters in the same year, for purposes of determining core investment gains. Investment-related experience relates to fixed income investing, ALDA returns, credit experience and asset mix
changes other than those related to a strategic change. An example of a strategic asset mix change is outlined below. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">This favourable and unfavourable investment-related experience is a combination of reported investment experience as well as
the impact of investing activities on the measurement of our policy liabilities. We do not attribute specific components of investment-related experience to amounts included or excluded from core earnings. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>87</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The $400&nbsp;million threshold represents the estimated average annualized amount of net favourable investment-related
experience that the Company reasonably expects to achieve <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">through-the-business</FONT></FONT> cycle based on historical experience. It is not a forecast of expected net favourable
investment-related experience for any given fiscal year. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Our average net annualized investment-related experience calculated from the introduction of core earnings in 2012 to the
end of 2018 was $493&nbsp;million (2012 to the end of 2017 was $475 million). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The decision announced on December&nbsp;22, 2017 to reduce the allocation to ALDA in the portfolio asset mix supporting our
legacy businesses was the first strategic asset mix change since we introduced the core earnings metric in 2012. We refined our description of investment-related experience in 2017 to note that asset mix changes other than those related to a
strategic change are taken into consideration in the investment-related experience component of core investment gains. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">While historical investment return time horizons may vary in length based on underlying asset classes generally exceeding 20
years, for purposes of establishing the threshold, we look at a business cycle that is five or more years and includes a recession. We monitor the appropriateness of the threshold as part of our annual five-year planning process and would adjust it,
either to a higher or lower amount, in the future if we believed that our threshold was no longer appropriate. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Specific criteria used for evaluating a potential adjustment to the threshold may include, but are not limited to, the
extent to which actual investment-related experience differs materially from actuarial assumptions used in measuring insurance contract liabilities, material market events, material dispositions or acquisitions of assets, and regulatory or
accounting changes. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Earnings on surplus other than
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> items. Gains on <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">available-for-sale</FONT></FONT> (&#147;AFS&#148;) equities and seed
money investments included in new segregated and mutual funds are included in core earnings. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Routine or <FONT STYLE="white-space:nowrap">non-material</FONT> legal settlements. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">All other items not specifically excluded. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Tax on the above items. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">All tax related items except the impact of enacted or substantively enacted income tax rate changes.
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Items excluded from core earnings: </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">The direct impact of equity markets and interest rates and variable annuity guarantee liabilities includes the items
listed below. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">The earnings impact of the difference between the net increase (decrease) in variable annuity liabilities that are
dynamically hedged and the performance of the related hedge assets. Our variable annuity dynamic hedging strategy is not designed to completely offset the sensitivity of insurance and investment contract liabilities to all risks or measurements
associated with the guarantees embedded in these products for a number of reasons, including; provisions for adverse deviation, fund performance, the portion of the interest rate risk that is not dynamically hedged, realized equity and interest rate
volatilities and changes to policyholder behaviour. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Gains (charges) on variable annuity guarantee liabilities not dynamically hedged. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Gains (charges) on general fund equity investments supporting policy liabilities and on fee income. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Gains (charges) on macro equity hedges relative to expected costs. The expected cost of macro hedges is calculated using the
equity assumptions used in the valuation of insurance and investment contract liabilities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Gains (charges) on higher (lower) fixed income reinvestment rates assumed in the valuation of insurance and investment
contract liabilities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></SUP>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:9pt">Gains (charges) on sale of AFS bonds and open derivatives not in hedging relationships in the Corporate and Other segment.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Net favourable investment-related experience in excess of $400&nbsp;million per annum or net unfavourable
investment-related experience on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> basis. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Mark-to-market</FONT></FONT> gains or losses on assets
held in the Corporate and Other segment other than gains on AFS equities and seed money investments in new segregated or mutual funds. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Changes in actuarial methods and assumptions. As noted in the &#147;Critical Actuarial and Accounting Policies&#148;
section above, policy liabilities for IFRS are valued in Canada under standards established by the Actuarial Standards Board. The standards require a comprehensive review of actuarial methods and assumptions to be performed annually. The review is
designed to reduce the Company&#146;s exposure to uncertainty by ensuring assumptions for both asset related and liability related risks remain appropriate and is accomplished by monitoring experience and selecting assumptions which represent a
current best estimate view of expected future experience, and margins that are appropriate for the risks assumed. By excluding the results of the annual reviews, core earnings assist investors in evaluating our operational performance and comparing
our operational performance from period to period with other global insurance companies because the associated gain or loss is not reflective of current year performance and not reported in net income in most actuarial standards outside of Canada.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">The impact on the measurement of policy liabilities of changes in product features or new reinsurance transactions, if
material. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Goodwill impairment charges. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Gains or losses on disposition of a business. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Material <FONT STYLE="white-space:nowrap">one-time</FONT> only adjustments, including highly unusual/extraordinary and
material legal settlements or other items that are material and exceptional in nature. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Tax on the above items. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Impact of enacted or substantially enacted income tax rate changes. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><B><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">Core return on common shareholders&#146; equity (&#147;core ROE&#148;)</FONT></B> is a
<FONT STYLE="white-space:nowrap">non-GAAP</FONT> profitability measure that presents core earnings available to common shareholders as a percentage of the capital deployed to earn the core earnings. The Company calculates core ROE using average
common shareholders&#146; equity. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>88</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

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<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Diluted core earnings per common share</B></FONT><FONT
STYLE="font-family:ARIAL"> is core earnings available to common shareholders expressed per diluted weighted average common share outstanding. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The Company also
uses financial performance measures that are prepared on a <B><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">constant exchange rate basis</FONT></B>, which are <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures that exclude the impact of
currency fluctuations (from local currency to Canadian dollars at a total Company level and from local currency to U.S. dollars in Asia). Amounts stated on a constant exchange rate basis in this report are calculated, as appropriate, using the
income statement and balance sheet exchange rates effective for the fourth quarter of 2018. Measures that are reported on a constant exchange rate basis include growth in core earnings, sales, APE sales, gross flows, core EBITDA, new business value,
new business value margin, assets under management, and assets under management and administration. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><B><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">Assets under
management and administration (&#147;AUMA&#148;)</FONT> </B>is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure of the size of the Company. It is comprised of the <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures assets under
management (&#147;AUM&#148;), which includes both assets of general account and external client assets for which we provide investment management services, and assets under administration (&#147;AUA&#148;), which includes assets for which we provide
administrative services only. Assets under management and administration is a common industry metric for WAM businesses. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Assets under
management and administration </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total invested assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>353,664</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">334,222</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Segregated funds net assets</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>313,209</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">324,307</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Assets under management per financial statements</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>666,873</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">658,529</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Mutual funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>182,219</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">191,507</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Institutional advisory accounts (excluding segregated funds)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>102,323</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91,115</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other funds</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>7,658</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">6,937</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets under management</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>959,073</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">948,088</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other assets under administration</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>124,449</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">123,188</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Currency impact</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">66,011</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>AUMA at constant exchange rates</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,083,522</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,137,287</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Consolidated capital </B></FONT><FONT STYLE="font-family:ARIAL">The definition we use
for consolidated capital, a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure, serves as a foundation of our capital management activities at the MFC level. For regulatory reporting purposes, the numbers are further adjusted for various
additions or deductions to capital as mandated by the guidelines used by OSFI. Consolidated capital is calculated as the sum of: (i)&nbsp;total equity excluding accumulated other comprehensive income (&#147;AOCI&#148;) on cash flow hedges; and
(ii)&nbsp;liabilities for capital instruments. </FONT></P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Consolidated capital </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"><B>As at December&nbsp;31,</B><br>($ millions)</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total equity</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>47,151</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">42,163</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Add AOCI loss on cash flow hedges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>127</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Add qualifying capital instruments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>8,732</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,387</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Consolidated capital</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;56,010</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;50,659</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Core EBITDA </B></FONT><FONT STYLE="font-family:ARIAL">is a <FONT
STYLE="white-space:nowrap">non-GAAP</FONT> measure which Manulife uses to better understand the long-term earnings capacity and valuation of the business on a basis more comparable to how the profitability of global asset managers is generally
measured. Core EBITDA presents core earnings before the impact of interest, taxes, depreciation, and amortization. Core EBITDA excludes certain acquisition expenses related to insurance contracts in our retirement businesses which are deferred and
amortized over the expected life time of the customer relationship under the CALM. Core EBITDA was selected as a key performance indicator for WAM businesses, as EBITDA is widely used among asset management peers, and core earnings is a primary
profitability metric for the Company overall. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Core EBITDA margin
</B></FONT><FONT STYLE="font-family:ARIAL">is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure which Manulife uses to better understand the long-term profitability of our Global WAM business on a more comparable basis to how profitability
of global asset managers are measured. Core EBITDA margin presents core earnings before the impact of interest, taxes, depreciation, and amortization divided by total revenue from these businesses. Core EBITDA margin was selected as a key
performance indicator for our Global WAM business, as EBITDA margin is widely used among asset management peers, and core earnings is a primary profitability metric for the Company overall. </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>89</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Global Wealth and Asset Management </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="83%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core EBITDA</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,498</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,426</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Amortization of deferred acquisition costs and other depreciation</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(301</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(344</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Amortization of deferred sales commissions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(98</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(99</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core earnings before income taxes</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,099</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">983</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core income tax (expense) recovery</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(113</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(167</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>986</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">816</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Expense efficiency ratio</B></FONT><FONT STYLE="font-family:ARIAL"> is a <FONT
STYLE="white-space:nowrap">non-GAAP</FONT> measure which Manulife uses to measure progress towards our target to be more efficient. Efficiency ratio is defined as <FONT STYLE="white-space:nowrap">pre-tax</FONT> general expenses included in core
earnings divided by the sum of <FONT STYLE="white-space:nowrap">pre-tax</FONT> core earnings and <FONT STYLE="white-space:nowrap">pre-tax</FONT> general expenses included in core earnings. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Embedded value</B></FONT><FONT STYLE="font-family:ARIAL"> <B>(&#147;EV&#148;)</B> is a measure of the present value of
shareholders&#146; interests in the expected future distributable earnings on <FONT STYLE="white-space:nowrap">in-force</FONT> business reflected in the Consolidated Statements of Financial Position of Manulife, excluding any value associated with
future new business. EV is calculated as the sum of the adjusted net worth and the value of <FONT STYLE="white-space:nowrap">in-force</FONT> business. The adjusted net worth is the IFRS shareholders&#146; equity adjusted for goodwill and
intangibles, fair value of surplus assets, the carrying value of debt and preferred shares, and local statutory balance sheet, regulatory reserve, and capital for Manulife&#146;s Asian business. The value of
<FONT STYLE="white-space:nowrap">in-force</FONT> business in Canada and the U.S. is the present value of expected future IFRS earnings on <FONT STYLE="white-space:nowrap">in-force</FONT> business less the present value of the cost of holding capital
to support the <FONT STYLE="white-space:nowrap">in-force</FONT> business under the MCCSR framework. The MCCSR framework was replaced by the LICAT framework on January&nbsp;1, 2018 and LICAT was used to calculate EV as at December&nbsp;31, 2018. It
has been used to calculate quarterly NBV starting January&nbsp;1, 2018. The value of <FONT STYLE="white-space:nowrap">in-force</FONT> business in Asia reflects local statutory earnings and capital requirements. The value of <FONT
STYLE="white-space:nowrap">in-force</FONT> excludes our Global WAM, Manulife Bank and Property and Casualty Reinsurance businesses. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
STYLE="font-family:ARIAL" COLOR="#1f320c"><B>New business value (&#147;NBV&#148;) </B></FONT><FONT STYLE="font-family:ARIAL">is the change in embedded value as a result of sales in the reporting period. NBV is calculated as the present value of
shareholders&#146; interests in expected future distributable earnings, after the cost of capital, on actual new business sold in the period using assumptions that are consistent with the assumptions used in the calculation of embedded value. NBV
excludes businesses with&nbsp;immaterial insurance risks, such as the Company&#146;s Global WAM, Manulife Bank and the short-term Property and Casualty Reinsurance businesses. NBV is a useful metric to evaluate the value created by the
Company&#146;s new business franchise. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>New business value margin
</B></FONT><FONT STYLE="font-family:ARIAL">is calculated as NBV divided by APE excluding <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests. APE is calculated as 100% of annualized first year premiums for recurring premium products,
and as 10% of single premiums for single premium products. Both NBV and APE used in the NBV margin calculation are after <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests and exclude our Global WAM, Manulife Bank and Property and
Casualty Reinsurance businesses. The NBV margin is a useful metric to help understand the profitability of our new business. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Sales
are measured according to product type: </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">For individual insurance, sales include 100% of new annualized premiums and 10% of both excess and single
premiums. For individual insurance, new annualized premiums reflect the annualized premium expected in the first year of a policy that requires premium payments for more than one year. Single premium is the lump sum premium from the sale of a single
premium product, e.g. travel insurance. Sales are reported gross before the impact of reinsurance. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">For group insurance, sales include new annualized premiums and
administrative services only premium equivalents on new cases, as well as the addition of new coverages and amendments to contracts, excluding rate increases. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">APE
sales is comprised of 100% of regular premiums/deposits and 10% of single premiums/deposits for both insurance and insurance-based wealth accumulation products. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Insurance-based wealth accumulation product sales include all new deposits into variable and fixed annuity contracts. As we discontinued sales of new Variable Annuity
contracts in the U.S. in 1Q13, subsequent deposits into existing U.S. Variable Annuity contracts are not reported as sales. Asia variable annuity deposits are included in APE sales. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Bank new lending volumes include bank loans and mortgages authorized in the period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Gross flows</B></FONT><FONT STYLE="font-family:ARIAL"> is a new business measure presented for our Global WAM business and includes all deposits into mutual funds, college savings 529 plans, group
pension/retirement savings products, private wealth and institutional asset management products. Gross flows is a common industry metric for WAM businesses as it provides a measure of how successful the businesses are at attracting assets.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Net flows</B></FONT><FONT STYLE="font-family:ARIAL"> is presented for our Global WAM business and includes
gross flows less redemptions for mutual funds, college savings 529 plans, group pension/retirement savings products, private wealth and institutional asset management products. Net flows is a common industry metric for WAM businesses as it provides
a measure of how successful the businesses are at attracting and retaining assets. </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>90</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B><A NAME="mdatoc661383_16"></A>Additional Disclosures </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Contractual Obligations </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the normal course of
business, the Company enters into contracts that give rise to obligations fixed by agreement as to the timing and dollar amount of payment. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at December&nbsp;31,
2018, the Company&#146;s contractual obligations and commitments are as follows: </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="53%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Payments due by period</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Total</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">Less than<BR>1 year</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">1 to 3<BR>years</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">3 to 5<BR>years</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">After 5<BR>years</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Long-term debt<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>8,672</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>222</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,093</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>377</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>6,980</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Liabilities for capital instruments<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,763</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>347</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>700</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>708</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>16,008</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment commitments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,372</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,434</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,092</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,789</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,057</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Operating leases</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>575</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>129</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>203</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>93</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>150</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Insurance contract liabilities<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>788,422</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>9,327</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>10,863</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>17,994</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>750,238</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment contract liabilities<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,473</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>193</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>492</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>476</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,312</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Deposits from Bank clients</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,684</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>15,351</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,147</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>2,185</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>4,864</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>547</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>3,427</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>783</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>107</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total contractual obligations</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;855,825</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;30,550</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;22,017</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;25,405</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;778,853</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The contractual payments include principal, interest and distributions. The contractual payments reflect the amounts
payable from January&nbsp;1, 2019 up to and including the final contractual maturity date. In the case of floating rate obligations, the floating rate index is based on the interest rates as at December&nbsp;31, 2018 and is assumed to remain
constant to the final contractual maturity date. The Company may have the contractual right to redeem or repay obligations prior to maturity and if such right is exercised, total contractual obligations paid and the timing of payment could vary
significantly from the amounts and timing included in the table. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Insurance contract liabilities cash flows include estimates related to the timing and payment of death and disability
claims, policy surrenders, policy maturities, annuity payments, minimum guarantees on segregated fund products, policyholder dividends, commissions and premium taxes offset by contractual future premiums on
<FONT STYLE="white-space:nowrap">in-force</FONT> contracts. These estimated cash flows are based on the best estimate assumptions used in the determination of insurance contract liabilities. These amounts are undiscounted and reflect recoveries from
reinsurance agreements. Due to the use of assumptions, actual cash flows may differ from these estimates (see &#147;Policy Liabilities&#148;). Cash flows include embedded derivatives measured separately at fair value. </P></TD></TR></TABLE>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Legal and Regulatory Proceedings </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">We are
regularly involved in legal actions, both as a defendant and as a plaintiff. Information on legal and regulatory proceedings can be found in note&nbsp;18 of the 2018 Annual Consolidated Financial Statements. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Fourth Quarter Financial Highlights </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT
 COLOR="#1f320c"><B>Profitability </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Profitability metrics </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the quarters ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions, unless otherwise stated)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Profitability:</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net income attributed to shareholders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>593</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(1,606</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core earnings<SUP STYLE="font-size:85%; vertical-align:top">(1),(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,337</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;1,205</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,287</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Diluted earnings per common share ($)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.28</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.83</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.01</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Diluted core earnings per common share ($)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.65</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Return on common shareholders&#146; equity (&#147;ROE&#148;)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5.3%</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17.1)%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.3%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core
ROE<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>12.5%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">12.1%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">12.9%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Impact of currency movement on the fourth quarter of 2018 (&#147;4Q18&#148;) core earnings compared with the fourth
quarter of 2017 (&#147;4Q17&#148;) was a $36&nbsp;million favourable variance. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Manulife&#146;s
4Q18 net income attributed to shareholders was $593&nbsp;million compared with a loss of $1,606&nbsp;million in 4Q17.</B></FONT><FONT STYLE="font-family:ARIAL"> Net income attributed to shareholders is comprised of core earnings (consisting of items
we believe reflect the underlying earnings capacity of the business), which amounted to $1,337&nbsp;million in 4Q18 compared with $1,205&nbsp;million in 4Q17, and items excluded from core earnings, which netted to charges of $744&nbsp;million in
4Q18 compared with charges of $2,811&nbsp;million in 4Q17 for a period-over-period decrease in charges of $2,067&nbsp;million. Net income attributed to shareholders in 4Q18 was higher than in 4Q17 due to the
<FONT STYLE="white-space:nowrap">non-recurrence</FONT> of a $2.8&nbsp;billion <FONT STYLE="white-space:nowrap">post-tax</FONT> charge in 4Q17 related to the impact of U.S. Tax Reform and the decision to change the portfolio asset mix supporting our
legacy businesses, partially offset by the charges in 4Q18 related to the direct impact of equity markets. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The $132&nbsp;million increase in core earnings
compared with 4Q17 was primarily driven by new business growth in Asia, the impact of lower U.S. tax rates, improved policyholder experience, and greater expense efficiency, partially offset by the impact of lower equity markets on seed money
investments in new segregated and mutual funds and fee income, and actions to optimize our portfolio. Core earnings in 4Q18 included net policyholder experience gains of $11&nbsp;million <FONT STYLE="white-space:nowrap">post-tax</FONT>
($13&nbsp;million <FONT STYLE="white-space:nowrap">pre-tax)</FONT> compared with charges of $34&nbsp;million <FONT STYLE="white-space:nowrap">post-tax</FONT> ($42&nbsp;million <FONT STYLE="white-space:nowrap">pre-tax)</FONT> in 4Q17. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>91</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Core earnings by segment is presented in the table below for the periods presented. </P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the quarters ended December&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>4Q18</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">4Q17</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Asia</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>459</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">372</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canada</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>312</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">273</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S.</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>465</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">463</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Global Wealth and Asset Management</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>231</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">198</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Corporate and Other (excluding core investment gains)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(230</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(201</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Core investment gains</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,337</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&nbsp;&nbsp;1,205</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In Asia, core earnings were $459&nbsp;million in 4Q18 compared with
$372&nbsp;million in 4Q17. Core earnings in 4Q18 increased 20%, compared with 4Q17, after adjusting for the impact of changes in foreign currency exchange rates. The increase in core earnings was driven by growth in new business. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In Canada, core earnings were $312&nbsp;million in 4Q18 compared with $273&nbsp;million in 4Q17. Core earnings in 4Q18 increased 14%, compared with 4Q17. The increase in
core earnings reflected improved policyholder experience in our group and individual insurance businesses, the favourable impact of new business from sales of the recently-launched Manulife Par product, and the
<FONT STYLE="white-space:nowrap">non-recurrence</FONT> of a number of smaller unfavourable items in the prior year. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In the U.S., core earnings were $465&nbsp;million
in 4Q18 compared with $463&nbsp;million in 4Q17. Core earnings in 4Q18 decreased by 3% compared with 4Q17, including the impact of changes in foreign currency rates, due to the impact of markets on variable annuity core earnings, lower in-force
earnings due to the reinsurance transactions and the <FONT STYLE="white-space:nowrap">non-recurrence</FONT> of a number of smaller items in 2017, partially offset by the $67&nbsp;million impact related to lower U.S. tax rates. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">In Global Wealth and Asset Management core earnings were $231&nbsp;million in 4Q18 compared with $198&nbsp;million in 4Q17. Core earnings in 4Q18 increased 13%, compared
with 4Q17. The increase in core earnings was driven primarily by the impact of lower U.S. tax rates. Core EBITDA was $362&nbsp;million in 4Q18, which was in line with 4Q17. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Corporate and Other core loss excluding core investment gains was $230&nbsp;million in 4Q18 compared with $201&nbsp;million in 4Q17. The $29&nbsp;million unfavourable
variance in core earnings was primarily driven by the impact of markets, in 4Q18, on seed money investments in new segregated and mutual funds and the unfavourable impact of lower U.S. tax rates, partially offset by higher investment-related income,
lower expenses, lower withholding taxes on future U.S. remittances and release of the 2017 hurricane loss provision. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Investment-related experience was a loss of
$30&nbsp;million in 4Q18 compared with a gain of $118&nbsp;million in 4Q17. The loss in 4Q18 was driven by lower than expected returns (including changes in fair value) on ALDA, predominantly oil &amp; gas, mostly offset by the favourable impact of
fixed income reinvestment activities on the measurement of our policy liabilities. The gains in 4Q17 reflected the favourable impact of fixed income reinvestment activities on the measurement of our policy liabilities and strong credit experience.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The table below reconciles net income attributed to shareholders to core earnings for the periods presented and provides further details for each of the items
excluded from core earnings. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the quarters ended December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>4Q18</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">4Q17</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Core earnings</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,337</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;1,205</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Items excluded from core earnings</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment-related experience outside of core earnings</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(130</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Direct impact of equity markets and interest rates and variable annuity guarantee liabilities (see table
below)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(675</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(68</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in actuarial methods and assumptions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(33</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Impact related to U.S. Tax Reform</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,777</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Charge related to decision to change portfolio asset mix supporting our legacy businesses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,032</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Restructuring charge<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(63</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reinsurance transactions and other<SUP
STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>124</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total items excluded from core earnings</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(744</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2,811</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss) attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>593</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(1,606</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">Actual market performance differed from our valuation assumptions in 4Q18, which resulted in a macro hedge experience gain
of $25&nbsp;million. This gain is included in the direct impact of equity markets and interest rates and variable annuity guarantee liabilities below. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The restructuring charge is described in full in the &#147;Manulife Financial Corporation &#150; Profitability&#148;
section at the beginning of the MD&amp;A. The 4Q18 charge of $63&nbsp;million is an update to the estimated $200&nbsp;million charge that was reported in the second quarter of 2018. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The 4Q18 gain of $124&nbsp;million includes a gain resulting from external reinsurance transactions partially offset by
the charge related to the integration of businesses acquired from Standard Life plc. The 4Q17 gain of $81&nbsp;million included a gain resulting from an internal legal entity restructuring partially offset by a provision for a legal settlement,
Thailand operations restructuring charges and a charge related to the integration of businesses acquired from Standard Life plc. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>92</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The gain (charge) related to the direct impact of equity markets and interest rates and variable annuity guarantee
liabilities in the table above is attributable to: </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="84%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>For the years ended December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>4Q18</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">4Q17</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Direct impact of equity markets and variable annuity guarantee liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(723</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Fixed income reinvestment rates assumed in the valuation of policy liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;112</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(155</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Sale of AFS bonds and derivative positions in the Corporate and Other segment</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(64</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Risk reduction related items</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>-</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(83</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Direct impact of equity markets and interest rates and variable
annuity guarantee liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(675</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(68</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">In 4Q18, losses of $2,362&nbsp;million from gross equity exposure were partially offset by gains of $1,615&nbsp;million
from dynamic hedging experience and $25&nbsp;million from macro hedge experience, which resulted in a loss of $723&nbsp;million. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">The $112 million gain in 4Q18 for fixed income reinvestment assumptions was driven by the increases in corporate spreads
which resulted in an increase in the reinvestment yields on future fixed income purchases assumed in the measurement of policy liabilities partially offset by a decrease in risk-free rates increases in swap spreads that resulted in a decrease in the
fair value of our swaps. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Growth </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Growth metrics </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the quarters ended December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions, unless otherwise stated)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Asia APE sales</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;1,040</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">884</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">824</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">Canada APE sales</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>277</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">222</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">302</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:ARIAL">U.S. APE sales</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>152</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">153</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">159</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total APE sales<SUP STYLE="font-size:85%; vertical-align:top"> </SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,469</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,259</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;1,285</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Asia new business value</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>402</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">319</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">294</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canada new business value</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>51</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S. new business value</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>48</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total new business value<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>501</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">383</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">360</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Wealth and asset management gross flows ($
billions)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>26.3</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Wealth and asset management net flows ($
billions)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(9.0</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Wealth and asset management assets under management and
administration ($ billions)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>608.8</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">609.0</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">554.1</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; below. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9.5pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Sales </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>APE sales</B></FONT><FONT STYLE="font-family:ARIAL"> were $1.5&nbsp;billion in 4Q18, an increase of 14% compared with
4Q17. In Asia, 4Q18 APE sales increased 15% compared with 4Q17, with growth across Japan, Hong Kong and Asia Other. 4Q18 APE sales in Japan increased 34% compared with 4Q17, driven by the continued success of the new COLI term product. Hong Kong APE
sales increased 8% in 4Q18 compared with 4Q17, driven by growth in our bancassurance channel. Asia Other 4Q18 APE sales increased 4% compared with 4Q17 as higher sales of protection products were partially offset by lower sales of single premium
investment-linked products, reflecting market volatility. In Canada, 4Q18 APE sales increased 25% compared with 4Q17, driven by the continued success of our recently-launched Manulife Par product and a large-case group insurance sale. In the U.S.,
4Q18 APE sales declined 5% compared with 4Q17 driven by increased competition in the international high net worth segment and actions to maintain margins. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT
STYLE="font-family:ARIAL" COLOR="#1f320c"><B>New Business Value</B></FONT><FONT STYLE="font-family:ARIAL"> was $501&nbsp;million in 4Q18, an increase of 27% compared with 4Q17. In Asia, NBV increased 23% from 4Q17 to $402&nbsp;million due to higher
sales, scale benefits, and improved product mix. Canada NBV increased 6% as the benefits from the launch of Manulife Par were partially offset by a less favourable business mix in group insurance. U.S. NBV almost tripled due to actions to improve
margins and a more favourable business mix. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Wealth and Asset Management net flows </B></FONT><FONT
STYLE="font-family:ARIAL">were negative $9.0&nbsp;billion in 4Q18, compared with positive net flows of $3.6&nbsp;billion in 4Q17. Net flows in Asia were $1.1&nbsp;billion in 4Q18, compared with net flows of $2.3&nbsp;billion in 4Q17, driven by lower
gross flows in institutional asset management. Net flows in Canada were negative $0.7&nbsp;billion in 4Q18 compared with positive net flows of $0.7&nbsp;billion in 4Q17, driven by lower net flows in retail amid equity market declines and higher
redemptions in retirement. Net flows in the U.S. were negative $9.4&nbsp;billion in 4Q18 compared with positive net flows of $0.6&nbsp;billion in 4Q17, driven by higher retail redemptions amid the declines in equity markets. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>Wealth and Asset Management gross flows </B></FONT><FONT STYLE="font-family:ARIAL">were $26.3&nbsp;billion in 4Q18, 20%
lower than 4Q17, driven by lower retail gross flows across all regions. In Asia, we experienced a decline in money market fund gross flows in mainland China, and in U.S. and Canada we recorded lower gross flows amid equity market declines. Growth in
institutional asset management partially offset this decline, with the funding of a custom Liability Driven Investment mandate in Canada and two large mandates in Europe reduced by lower gross flows in mainland China.</FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>93</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Quarterly Financial Information </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">The following table provides summary information related to our eight most recently completed quarters: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the three months ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">($ millions, except per share amounts or otherwise<BR>stated)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>Dec 31,<BR>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Sept 30,<BR>2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Jun 30,<BR>2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Mar 31,<BR>2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Dec 31,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Sept 30,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Jun 30,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">Mar 31,<BR>2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Premium income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Life and health insurance</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>7,724</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;7,700</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">7,628</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">7,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,321</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,040</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">5,994</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Annuities and pensions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(5,892</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(2,599</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,126</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,025</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">943</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">922</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">934</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,056</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Net premium income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,832</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,754</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,325</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,943</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,243</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,974</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,050</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment income</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>3,278</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,481</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,566</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,235</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,579</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,309</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,444</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,317</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Realized and unrealized gains and losses on assets supporting insurance and investment contract liabilities<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,113</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,210</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,615</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5,316</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,988</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,163</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,303</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">590</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other revenue</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>2,291</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,671</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,964</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,502</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,737</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,544</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,872</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">2,593</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;8,514</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,043</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;13,669</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;8,746</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;&nbsp;16,247</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;11,933</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;16,593</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;13,550</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income (loss) before income taxes</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>359</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,911</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,535</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,714</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(2,123</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,269</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,618</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,737</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Income tax (expense) recovery</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(43</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(246</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(337</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">424</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(13</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(304</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(346</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>316</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,905</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,289</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,377</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(1,699</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,256</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,314</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,391</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss) attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>593</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,573</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,262</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,372</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(1,606</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,105</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,255</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,350</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Reconciliation of core earnings to net income attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total core earnings<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1,337</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,539</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,431</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,303</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,205</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,085</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,174</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Other items to reconcile net income attributed to shareholders to core earnings</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Investment-related experience in excess of amounts included in core earnings</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(130</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">312</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">138</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Direct impact of equity markets, interest rates and variable annuity guarantee liabilities</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(675</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(277</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(68</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(37</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">267</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Change in actuarial methods and assumptions</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(51</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(33</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Charge related to decision to change portfolio asset mix supporting our legacy businesses</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,032</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Charge related to U.S. Tax Reform</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>&#150;</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,777</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Restructuring charges</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>(63</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(200</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Reinsurance transaction and other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>124</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(74</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(32</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(20</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(18</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Net income (loss) attributed to shareholders</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>593</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,573</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,262</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,372</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">(1,606</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,105</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,255</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1,350</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Basic earnings (loss) per common share</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.28</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.77</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.61</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.67</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(0.83</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.54</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.62</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.66</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Diluted earnings (loss) per common share</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.28</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.77</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.61</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.67</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(0.83</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.54</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.61</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.66</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Segregated funds deposits</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>9,212</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">9,424</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">9,872</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">9,728</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,421</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,179</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,544</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">9,632</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets (in billions)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>750</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">748</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">752</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">740</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">730</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">713</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">726</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">728</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Weighted average common shares (in millions)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,980</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,984</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,984</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,983</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,980</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,978</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,977</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,976</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Diluted weighted average common shares (in millions)</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1,983</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,989</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,989</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,989</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,988</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,986</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,984</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1,984</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Dividends per common share</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.250</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.220</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.220</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.220</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.205</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.205</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.205</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">0.205</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>CDN$ to US$1 &#150; Statement of Financial Position</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1.3642</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1.2945</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1.3168</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1.2894</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1.2545</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1.2480</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1.2977</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">1.3323</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>CDN$ to US$1 &#150; Statement of Income</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>1.3204</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1.3069</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1.2912</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1.2647</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1.2712</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1.2528</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1.3450</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">1.3238</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">For fixed income assets supporting insurance and investment contract liabilities and for equities supporting pass-through
products and derivatives related to variable hedging programs, the impact of realized and unrealized gains (losses) on the assets is largely offset in the change in insurance and investment contract liabilities. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">This item is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure. See &#147;Performance and <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Measures&#148; above. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>94</B></FONT><FONT STYLE="font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manulife&nbsp;
Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;
&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;<I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;
Analysis</I></FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B></B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

<div style ="background-color:#78846d; max-width:100%">

</div>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>Selected Annual Financial Information </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="67%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><FONT COLOR="#1f320c"><B>As at and for the years ended December&nbsp;31,</B></FONT></P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:7pt">($ millions, except per share amounts)</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #1f320c">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Asia</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>19,687</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,690</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18,737</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Canadian</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>13,637</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,187</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,335</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">U.S.</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>639</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,318</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,017</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Global Wealth and Asset Management</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>5,464</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,928</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Corporate and Other</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>(455</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">(72</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">320</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>38,972</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">58,323</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">53,337</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total assets</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>&nbsp;&nbsp;750,271</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;729,533</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">&nbsp;&nbsp;720,681</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Long-term financial liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Long-term debt</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>4,769</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,785</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">5,696</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Capital instruments</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>8,732</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">8,387</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">7,180</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total financial liabilities</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>13,501</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">13,172</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c" ALIGN="right">12,876</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #1f320c">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#dde0da"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Dividend per common share</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>$</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.91</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;A Share, Series 2</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.1625</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.1625</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.1625</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;A Share, Series 3</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.125</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.125</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.125</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series
3<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.5445</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.5445</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.7973</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series
4<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.6536</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.4918</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.2431</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series 5</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.9728</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.9728</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series 7</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.078</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.096</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series 9</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.0878</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.0969</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series 11</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.1371</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series 13</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.9884</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series 15</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.975</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.975</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.975</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series 17</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.975</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.975</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.975</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series 19</P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>0.95</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series
21<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.40</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.1411</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series
23<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" ALIGN="right"><B>1.2125</B></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.298</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Cash dividend per Class&nbsp;1 Share, Series 25<SUP
STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" BGCOLOR="#dde0da" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da" ALIGN="right"><B>0.9706</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" BGCOLOR="#dde0da"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #1f320c">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">1,664,169 of 8,000,000 Series 3 Shares were converted, on a <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">one-for-one</FONT></FONT> basis, into Series 4 Shares on June&nbsp;20, 2016. 6,335,831 Series 3 Shares remain outstanding. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">On February&nbsp;25, 2016, MFC issued 16&nbsp;million of Series 21 Shares and on March&nbsp;3, 2016, MFC issued an
additional 1&nbsp;million Series 21 Shares pursuant to the exercise in full by the underwriters of their option to purchase additional Series 21 Shares. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">On November&nbsp;22, 2016, MFC issued 19&nbsp;million of <FONT STYLE="white-space:nowrap">Non-cumulative</FONT> Rate Reset
Class&nbsp;1 Shares Series 23. No dividends were paid in 2016. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:ARIAL; " ALIGN="left">On February&nbsp;20, 2018, MFC issued 10&nbsp;million of <FONT STYLE="white-space:nowrap">Non-cumulative</FONT> Rate Reset
Class&nbsp;1 Shares Series 25. </P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Differences between IFRS and Hong Kong Financial Reporting Standards </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Manulife&#146;s Consolidated Financial Statements are presented in accordance with IFRS. IFRS differs in certain respects from Hong Kong Financial Reporting Standards
(&#147;HKFRS&#148;). Until IFRS 17 &#147;Insurance Contracts&#148; is issued and becomes effective, IFRS 4 &#147;Insurance Contracts&#148; permits the use of the insurance standard in effect at the time an issuer adopts IFRS. IFRS insurance contract
liabilities are valued in Canada under standards established by the Canadian Actuarial Standards Board. In certain interest rate environments, insurance contract liabilities determined in accordance with HKFRS may be higher than those computed in
accordance with current IFRS. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>IFRS and Hong Kong Regulatory Requirements </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Insurers in Hong Kong are required by the Insurance Authority to meet minimum solvency requirements. As at December&nbsp;31, 2018, the Company&#146;s business that falls
within the scope of these requirements has sufficient assets to meet the minimum solvency requirements under both Hong Kong regulatory requirements and IFRS. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT
 COLOR="#2a517f"><B>Outstanding Common Shares </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">As at January 31, 2019, MFC had 1,963,710,812 common shares outstanding. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><FONT COLOR="#2a517f"><B>Additional Information Available </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Additional
information relating to Manulife, including MFC&#146;s Annual Information Form, is available on the Company&#146;s website at www.manulife.com and on SEDAR at www.sedar.com. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right"><FONT
STYLE="font-family:ARIAL; font-size:8pt"><I>Management&#146;s&nbsp;Discussion&nbsp;and&nbsp;Analysis</I>&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;
Manulife&nbsp;Financial&nbsp;Corporation&nbsp;&nbsp;</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c">|</FONT><FONT STYLE="font-family:ARIAL; font-size:8pt">&nbsp;&nbsp;2018&nbsp;Annual&nbsp;Report&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#1f320c"><B>95</B></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>

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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>d661375dex993.htm
<DESCRIPTION>EX-99.3
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.3</TITLE>
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 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><B>Exhibit 99.3 </B></P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g661375g27w34.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:22pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#00af41"><B>M<SMALL>ANULIFE</SMALL> F<SMALL>INANCIAL</SMALL> C<SMALL>ORPORATION</SMALL> </B></FONT></P>
<P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:22pt; font-family:ARIAL" ALIGN="center"><B>Annual Information Form </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center">February&nbsp;13, 2019 </P>
</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#00af41"><B>Table of Contents </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD></TR>
<TR STYLE="font-size:1pt" BGCOLOR="#00af41">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TABLE OF CONTENTS</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Annual&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Information&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Form&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Management&#146;s</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Discussion &amp; Analysis</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Reference</FONT></B></FONT></P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>CORPORATE
STRUCTURE</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 4<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>GENERAL
DEVELOPMENT OF THE BUSINESS</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 4<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"> 16<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> &nbsp;<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>BUSINESS
OPERATIONS</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 4<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="white-space:nowrap">10-35</FONT> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> &nbsp;<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>RISK
FACTORS</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 6<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">36-54;&nbsp;70-85</FONT></FONT> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> &nbsp;<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>GOVERNMENT
REGULATION</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 7<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>GENERAL
DESCRIPTION OF CAPITAL STRUCTURE</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 14<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>DIVIDENDS</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 17<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>CONSTRAINTS ON
OWNERSHIP OF SHARES</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 18<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>RATINGS</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 19<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>MARKET FOR
SECURITIES</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 21<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>LEGAL PROCEEDINGS
AND REGULATORY ACTIONS</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 25<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>DIRECTORS AND
EXECUTIVE OFFICERS</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 25<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>TRANSFER AGENT AND
REGISTRAR</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 28<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>INTERESTS OF
EXPERTS</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 28<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>AUDIT
COMMITTEE</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 29<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>ADDITIONAL
INFORMATION</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="center"> 30<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
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AUDIT COMMITTEE CHARTER</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Presentation of Information </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In this annual information form (&#147;AIF&#148;), unless otherwise indicated or unless the context otherwise requires: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman">&#9679;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">all references to &#147;MFC&#148; and &#147;Manufacturers Life&#148; refer to Manulife Financial Corporation and The
Manufacturers Life Insurance Company, respectively, not including their subsidiaries; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">MFC and its subsidiaries, including Manufacturers Life, are collectively referred to as &#147;Manulife&#148;;
</P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">references to &#147;Company&#148;, &#147;we&#148;, &#147;us&#148; and &#147;our&#148; refer to Manulife;
</P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">references to &#147;$&#148; are to Canadian dollars; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">information is as at December&nbsp;31, 2018. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Documents Incorporated by Reference </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The following documents are
incorporated by reference in and form part of this AIF: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">MFC&#146;s Management&#146;s Discussion and Analysis for the year ended December&nbsp;31, 2018 (our &#147;2018
MD&amp;A&#148;); and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman">&#9679;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">MFC&#146;s audited annual consolidated financial statements and accompanying notes as at and for the year ended
December&nbsp;31, 2018 (our &#147;2018 Consolidated Financial Statements&#148;). </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">These documents have been filed with securities regulators in
Canada and may be accessed at the System for Electronic Document Analysis and Retrieval (&#147;SEDAR&#148;), found at <U>www.sedar.com</U>. They have also been filed with the U.S. Securities and Exchange Commission (the &#147;SEC&#148;) and may be
found at <U>www.sec.gov</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Any website address included in this AIF is an inactive textual reference only and information appearing on such website is not part
of, and is not incorporated by reference in, this AIF. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Caution Regarding Forward-Looking Statements </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">From time to time, the Company makes written and/or oral forward-looking statements, including in this document and the documents incorporated by reference in this
document. In addition, the Company&#146;s representatives may make forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the &#147;safe harbour&#148; provisions of Canadian
provincial securities laws and the U.S. <I>Private Securities Litigation Reform Act of 1995</I>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The forward-looking statements in this document and the documents
incorporated by reference in this document include, but are not limited to, statements with respect to the Company&#146;s possible or assumed future results set out under &#147;General Development of the Business&#148;, &#147;Business
Operations&#148; and &#147;Government Regulation&#148;; the Company&#146;s strategic priorities and 2022 targets for net promoter score, employee engagement, its highest potential businesses, expense efficiency and portfolio optimization; the
reduction in the allocation to alternative long-duration assets in our portfolio asset mix supporting our legacy business by <FONT STYLE="white-space:nowrap">mid-2019;</FONT> and the annual <FONT STYLE="white-space:nowrap">pre-tax</FONT> <FONT
STYLE="white-space:nowrap">run-rate</FONT> savings to be achieved by the end of 2019, and also relate to, among other things, our objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified
by the use of words such as &#147;may&#148;, &#147;will&#148;, &#147;could&#148;, &#147;should&#148;, &#147;would&#148;, &#147;likely&#148;, &#147;suspect&#148;, &#147;outlook&#148;, &#147;expect&#148;, &#147;intend&#148;, &#147;estimate&#148;,
&#147;anticipate&#148;, &#147;believe&#148;, &#147;plan&#148;, &#147;forecast&#148;, &#147;objective&#148;, &#147;seek&#148;, &#147;aim&#148;, &#147;continue&#148;, &#147;goal&#148;, &#147;restore&#148;, &#147;embark&#148; and &#147;endeavour&#148;
(or the negative thereof) and words and expressions of similar import, and include statements concerning possible or assumed future results. Although we believe that the expectations reflected in such forward-looking statements are reasonable, such
statements involve risks and uncertainties, and undue reliance should not be placed on such statements and they should not be interpreted as confirming market or analysts&#146; expectations in any way. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in
such statements. Important factors that could cause actual results to differ materially from expectations include, but are not limited to, the factors identified under &#147;Caution regarding forward-looking statements&#148; in our 2018 MD&amp;A.
Additional information about material risk factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found under &#147;Risk
Management&#148;, &#147;Risk Factors&#148; and &#147;Critical Accounting and Actuarial Policies&#148; in our 2018 MD&amp;A, in the &#147;Risk Management&#148; note to our 2018 Consolidated Financial Statements
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">3 </P>

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and elsewhere in MFC&#146;s filings with Canadian and U.S. securities regulators. The forward-looking statements in this document or in the documents incorporated by reference in this document
are, unless otherwise indicated, stated as of the date hereof or the date of the document incorporated by reference, as the case may be, and are presented for the purpose of assisting investors and others in understanding the Company&#146;s
financial position and results of operations, our future operations, as well as the Company&#146;s objectives and strategic priorities, and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking
statements, except as required by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>CORPORATE STRUCTURE </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Name, Address and Incorporation </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Manulife Financial Corporation is a life
insurance company incorporated under the <I>Insurance Companies Act</I> (Canada) (the &#147;ICA&#148;) on April&nbsp;26, 1999 for the purpose of becoming the holding company of Manufacturers Life following its demutualization. Manufacturers Life was
incorporated on June&nbsp;23, 1887, by a Special Act of Parliament of the Dominion of Canada, and was converted into a mutual life insurance company in 1968. Pursuant to Letters Patent of Conversion, effective September&nbsp;23, 1999, Manufacturers
Life implemented a plan of demutualization under the ICA and converted to a life insurance company with common shares and became the wholly owned subsidiary of MFC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s head office and registered office is located at 200 Bloor Street East, Toronto, Canada, M4W 1E5. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Intercorporate Relationships </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The major operating subsidiaries of MFC,
including direct and indirect subsidiaries, and MFC&#146;s direct and indirect voting interest therein, are listed in Note 21 (Subsidiaries) to our 2018 Consolidated Financial Statements. These companies are incorporated in the jurisdiction in which
their head office or registered office is located. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>GENERAL DEVELOPMENT OF THE BUSINESS </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Three Year History </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In 2018, the Company continued to execute against our
five priorities and bold ambition of becoming the most digital and customer-centric global company in our industry and delivering top quartile shareholder returns.&nbsp;Highlights with respect to these priorities are outlined in our 2018
MD&amp;A.&nbsp;Also in 2018, several changes in key management became effective, including the following: Philip Witherington became CFO, and Naveed Irshad became Head, North American Legacy Business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In 2017, the following key management changes occurred: Roy Gori became President and CEO; Michael Doughty became President and CEO, Manulife Canada; Marianne Harrison
became President and CEO, John Hancock; Anil Wadhwani became President and CEO, Manulife Asia; and Paul Lorentz became Head, Global Wealth and Asset Management. In 2017, Manulife raised $2.2&nbsp;billion of capital in Canada, the U.S., and
Singapore, and became the first life insurer to complete the issuance of a green bond. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Effective January&nbsp;1, 2016, the Company became the exclusive provider of
bancassurance solutions to DBS Bank Ltd&#146;s six million retail, wealth and small and <FONT STYLE="white-space:nowrap">medium-sized</FONT> enterprises customers in four mutually significant markets: Singapore, Hong Kong, Indonesia and mainland
China. In 2016, Manulife commenced its global funding strategy to diversify funding sources and broaden its investor base, raising $5.4&nbsp;billion of capital in Canada, the U.S., and various Asian markets. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Additional information about our business can be found in the &#147;Business Operations&#148; section below, and in MFC&#146;s 2018 MD&amp;A, on pages 10 to 35
inclusive. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>BUSINESS OPERATIONS </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Information about our business and operating segments, our strategy, products, and investment activities, is included in MFC&#146;s 2018 MD&amp;A, on pages 10 to 35.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>DISTRIBUTION METHODS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The
Company has a multi-channel distribution network in all the segments in which it operates, with different emphasis depending on the product line and geography. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B><I>Asia </I></B>Our multi-channel distribution network in Asia includes contracted agents, bank partnerships and independent agents, financial advisors and brokers.
Our bancassurance partnerships include a long-term, exclusive regional partnership with DBS in Singapore, Hong Kong, mainland China and Indonesia. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In Hong Kong and
Macau, our insurance products are marketed through the Company&#146;s agency, bancassurance partnerships, and independent broker channels. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In Japan, product
offerings are marketed through proprietary sales agents, independent agencies or managing general agents (&#147;MGA&#148;) and bancassurance partners. Corporate products are mainly sold through MGAs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In Indonesia, the Philippines, Singapore, Taiwan (China), mainland China, Vietnam, Malaysia, Cambodia and Thailand, products are marketed through exclusive agents, bank
channels, including exclusive partnerships, brokerage, independent financial advisors and telemarketing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B><I>Canada </I></B>We offer a diverse range of financial
protection, insurance-based wealth accumulation products and banking solutions through a diversified multi-channel distribution network. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Retail Insurance products
are distributed primarily through independent advisors who sell our products, as well as those of other life insurance companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Group Benefits products are sold
to employers (sponsors) and are distributed through various distribution channels, including a national network of regional offices that provide support to plan sponsors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Company is a leading provider of life, living benefits, health and travel insurance to affinity organizations in Canada, including professional, alumni and retiree
associations and financial and retail institutions. Products are offered through partnerships, sponsor groups and associations, as well as <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">direct-to-customer</FONT></FONT> marketing.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Manulife Bank of Canada products are offered through financial advisors supported by a broad distribution network. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B><I>U.S. </I></B>Operating under the John Hancock brand in the U.S., our product suite is distributed primarily through licensed financial advisors. We are also
focused on providing digital solution capabilities to access more customers and better support our <FONT STYLE="white-space:nowrap">advisor-led</FONT> channels. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B><I>Global Wealth and Asset Management </I></B>We serve individual investors and institutional clients with operations in 16 markets. Our global retirement products
are marketed through distribution channels that include independent advisors, consultants, exclusive agents and bank channels, depending on the geography. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Our
Canadian Group Retirement business works with a network of market sources, primarily brokers and consultants. In the U.S., John Hancock Retirement Plan Services products are marketed by sales account executives primarily to third party advisors and
consultants, including those who specialize in retirement plans. In Hong Kong, group pension products are primarily distributed through our exclusive agents and bank channel. We also have an exclusive Mandatory Provident Fund distribution
partnership with Standard Chartered Bank to serve the retirement needs of Hong Kong. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Our retail investment products are distributed through intermediaries in North
America, Europe and Asia. Our mutual funds in Canada are sold through regulated advisors, while our distribution partnerships include independent advisors, general agency brokers as well as full service brokers with investment dealer firms.
Operating under the John Hancock Investments brand in the U.S., we distribute retail funds primarily through financial intermediaries and advice-driven platforms. We sell mutual funds, including retail funds and investment-linked policy funds, in
all twelve of our Asian markets through bank channels, brokers, securities firms, affiliate agents and digital channels. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">5 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Our institutional asset management business provides comprehensive asset management solutions for pension plans,
foundations, endowments, financial institutions and other institutional investors worldwide. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>COMPETITION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">We operate in highly competitive markets and compete for customers with other insurance companies, banks, wealth management companies, and mutual fund companies. We
also compete with emerging fintechs, as well as <FONT STYLE="white-space:nowrap">non-traditional</FONT> technology players entering the financial services industry. Customer loyalty and retention, and access to distributors, are important to the
Company&#146;s success and are influenced by many factors, including our distribution practices and regulations, product features, service levels, prices, and our financial strength ratings and reputation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Key trends that are increasing competitive pressures in all our markets include: (1)&nbsp;digital solutions to enhance the customer experience and (2)&nbsp;simplified
and innovative product offerings. Both traditional and <FONT STYLE="white-space:nowrap">non-traditional</FONT> competitors are beginning to evolve their strategies to respond to these trends. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B><I>Asia </I></B>Most Asian territories have concentrated markets with the top three players often having over 40% market share of total premium income. As one of the
few foreign insurance companies with a broad Asian footprint and scale in both the developed insurance markets and developing insurance markets, we believe that the Company is well positioned to benefit from the potential in the region. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B><I>Canada </I></B>The financial protection market remains dominated by the three large Canadian insurance providers, of which we are one, while certain regional or
smaller carriers focused on specialty products or niche segments are extremely competitive in some markets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B><I>U.S. </I></B>Competition in the U.S. is primarily
with other large insurance firms, as well as mutual insurance companies, that distribute comparable products through similar channels. With our entry into the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">direct-to-customer</FONT></FONT> insurance channel and our ongoing development of a customer-facing advice platform, competition has expanded to include traditional advice providers
and emerging digital advice platforms. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B><I>Global Wealth and Asset Management </I></B>In North America, the wealth and asset management market continues to be
led by large wealth management companies. Across our Asian markets, we operate in very competitive markets comprised of global, <FONT STYLE="white-space:nowrap">pan-Asian,</FONT> and regional wealth and asset managers. Our institutional asset
management competitors are made up of a disparate group of global and regional institutional asset management companies, each of whom competes with us in distinct asset classes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>CORPORATE CITIZENSHIP REPORT AND PUBLIC ACCOUNTABILITY STATEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">We report
on the economic, environmental and social dimensions of our products and services, operations and community activities annually in Manulife&#146;s Corporate Citizenship Report and Public Accountability Statement. The report details our commitment to
social responsibility, environmental sustainability, excellence in business conduct and corporate governance.&nbsp;This document can be found in the Corporate Citizenship section of the Company&#146;s website at
<U>www.manulife.com/corporate-citizenship</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>RISK FACTORS </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">An explanation of the broad categories of risks facing the Company and Manulife&#146;s risk management strategies for each category as well as a discussion of the
specific risks and uncertainties to which our business operations and financial condition are subject can be found in the sections entitled &#147;Risk Management&#148; and &#147;Risk Factors&#148;, respectively, in our 2018 MD&amp;A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">As noted under &#147;Caution Regarding Forward-Looking Statements&#148;, forward-looking statements involve risks and uncertainties and actual results may differ
materially from those expressed or implied in such statements. Strategic risk, market risk, credit risk, product risk and operational risk are the major categories of risk described in the sections of our 2018 MD&amp;A. These risk factors should be
considered in conjunction with the other information in this AIF and the documents incorporated by reference herein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">6 </P>

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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">As an insurance company, Manulife is subject to regulation and supervision by governmental authorities in the jurisdictions in which it does business. In Canada, the
Company is subject to both federal and provincial regulation. In the United States, the Company is primarily regulated by each of the states in which it conducts business and by federal securities laws. The Company&#146;s Asia operations are
similarly subject to a variety of regulatory and supervisory regimes in each of the Asian jurisdictions in which the Company operates, which vary in degree of regulation and supervision. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>CANADA </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Manulife is governed by the ICA. The ICA is administered, and
activities of the Company are supervised, by the Office of the Superintendent of Financial Institutions (Canada)(&#147;OSFI&#148;), the primary regulator of federal financial institutions. The ICA permits insurance companies to offer, directly or
through subsidiaries or through networking arrangements, a broad range of financial services, including banking, investment counseling and portfolio management, mutual funds, trust services, real property brokerage and appraisal, information
processing and merchant banking services. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The ICA requires the filing of annual and other reports on the financial condition of the Company, provides for periodic
examinations of the Company&#146;s affairs, imposes restrictions on transactions with related parties, and sets forth requirements governing reserves for actuarial liabilities and the safekeeping of assets and other matters. OSFI supervises Manulife
on a consolidated basis (including capital adequacy) to ensure that OSFI has an overview of the group&#146;s activities. This includes the ability to review both insurance and <FONT STYLE="white-space:nowrap">non-insurance</FONT> activities
conducted by subsidiaries of Manulife with supervisory power to bring about corrective action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Capital Requirements </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The ICA requires Canadian insurance companies to maintain adequate levels of capital, at all times. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Life Insurance Capital Adequacy Test (&#147;LICAT&#148;) framework came into effect on January&nbsp;1, 2018, replacing the Minimum Continuing Capital and Surplus
Requirements (&#147;MCCSR&#148;) for Canadian federally regulated life insurance companies. Capital requirements for MFC and Manufacturers Life are governed by the LICAT guideline, with LICAT ratios prepared on a consolidated basis. LICAT uses a
risk-based approach to measure and aggregate specified risks to calculate the amount of regulatory capital required to support these risks. It measures the capital adequacy of a life insurer and is one of several indicators used by OSFI to assess a
life insurer&#146;s financial condition. The LICAT total ratio compares capital resources to the Base Solvency Buffer, which is the risk-based capital requirement determined in accordance with the guideline.<SUP
STYLE="font-size:85%; vertical-align:top">1</SUP> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Capital resources include Available Capital, as well as a Surplus Allowance derived from provisions for adverse
deviations in the reserves, and Eligible Deposits from unregistered reinsurers. Available Capital includes common equity, qualifying preferred shares, qualifying innovative tier 1 instruments, subordinated debt, contributed surplus, retained
earnings, adjusted Accumulated Other Comprehensive Income (AOCI), and the participating account. Under LICAT, certain deductions are made from Available Capital, including goodwill, intangible assets, a portion of deferred tax assets, controlling
interests in <FONT STYLE="white-space:nowrap">non-life</FONT> financial corporations and <FONT STYLE="white-space:nowrap">non-controlled</FONT> substantial investments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Base Solvency Buffer is equal to the aggregated capital requirements, net of credits for diversification and qualifying participating and adjustable products,
multiplied by a scalar of 1.05. The capital requirements cover the following five risk components: market risk, credit risk, insurance risk, operational risk and segregated funds guarantee risk. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The minimum regulatory LICAT total ratio is 90% for MFC and Manufacturers Life; in addition, Manufacturers Life is subject to a supervisory target of 100% for the total
ratio. OSFI expects each insurance company to establish an internal target capital level that provides a cushion above the regulatory requirements. This cushion allows for coping with volatility in markets and economic conditions, and enhances
flexibility in capital management to consider aspects </P>
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<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">In addition to the LICAT total ratio, the LICAT guideline also defines a LICAT core ratio.
</P></TD></TR></TABLE>
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such as innovations in the industry, consolidation trends and international developments. OSFI may require that a higher amount of capital be available, taking into account such factors as
operating experience and diversification of asset or insurance portfolios. MFC endeavours to manage its business such that LICAT ratios for both MFC and Manufacturers Life are above their internal targets. At December&nbsp;31, 2018, the LICAT total
ratio for MFC was 132% and was 143% for Manufacturers Life. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">OSFI may intervene and assume control of a Canadian life insurance company if it deems the amount of
available capital insufficient. Capital requirements may be adjusted by OSFI as experience develops, the risk profile of Canadian life insurers changes, or to reflect other risks. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">See the section entitled &#147;Risk Factors&#148; in our 2018 MD&amp;A, for information about regulatory initiatives and other developments which could impact
MFC&#146;s capital position. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Regulated subsidiaries of MFC must maintain minimum levels of capital, which are based on the local capital regime and the statutory
accounting basis in each jurisdiction. The Company seeks to maintain capital in excess of the minimum required, in all foreign jurisdictions in which the Company does business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Investment Powers </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Under the ICA, Manulife must maintain a prudent portfolio
of investments and loans, subject to certain overall limitations on the amount it may invest in certain classes of investments, such as commercial loans. Additional restrictions (and in some cases, the need for regulatory approvals) limit the type
of investment that the Company can make in excess of 10% of the voting rights or 25% of the equity of any entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Restrictions on Shareholder Dividends and
Capital Transactions </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The ICA prohibits the declaration or payment of any dividend on shares of an insurance company if there are reasonable grounds for
believing an insurance company does not have adequate capital and adequate and appropriate forms of liquidity, or declaration or the payment of the dividend would cause the insurance company to be in contravention of any regulation made under the
ICA respecting the maintenance of adequate capital and adequate and appropriate forms of liquidity, or any direction made to the company by the Superintendent of Financial Institutions (Canada) (the &#147;Superintendent&#148;). The ICA also requires
an insurance company to notify the Superintendent of the declaration of a dividend at least 15 days prior to the date fixed for its payment. Similarly, the ICA prohibits the purchase for cancellation of any shares issued by an insurance company or
the redemption of any redeemable shares or other similar capital transactions, if there are reasonable grounds for believing that the company does not have adequate capital and adequate and appropriate forms of liquidity, or the purchase or the
payment would cause the company to be, in contravention of any regulation made under the ICA respecting the maintenance of adequate capital and adequate and appropriate forms of liquidity, or any direction made to the company by the Superintendent.
These latter transactions would require the prior approval of the Superintendent. There is currently no direction against MFC or Manufacturers Life paying a dividend or redeeming or purchasing their shares for cancellation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Appointed Actuary </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In accordance with the ICA, the Board of Directors of MFC
(the &#147;Board&#148;) has appointed the Appointed Actuary who must be a Fellow of the Canadian Institute of Actuaries. The Appointed Actuary is required to value the policy liabilities of Manulife as at the end of each financial year in accordance
with accepted actuarial practices<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> with such changes as may be determined by the Superintendent and any direction that may be made by the Superintendent, including selection of appropriate
assumptions and methods. The Appointed Actuary must make a report in the prescribed form on the valuation including providing an opinion as to whether the consolidated financial statements fairly present the results of the valuation. At least once
in each financial year, the Appointed Actuary must meet with the Board, or the Audit Committee, to report, in accordance with accepted actuarial practice and any direction that may be made by the Superintendent, on the current and expected future
financial condition of the Company. The Appointed Actuary is also required to report to the President and Chief Executive Officer and the Chief Financial Officer of the Company if the </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Accepted actuarial practices means Canadian accepted actuarial practices as established by the Actuarial Standards Board.
</P></TD></TR></TABLE>
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Appointed Actuary identifies any matters that, in the Appointed Actuary&#146;s opinion, have material adverse effects on the financial condition of the Company and require rectification. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Prescribed Supervisory Information </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Supervisory Information (Insurance
Companies) Regulations made under the ICA prohibit regulated insurance companies, such as MFC and Manufacturers Life, from disclosing, directly or indirectly, &#147;prescribed supervisory information&#148;, as defined in those Regulations.
Prescribed supervisory information includes assessments, recommendations, ratings and reports concerning the Company made by or at the request of the Superintendent, orders of the Superintendent with respect to capital and liquidity, certain
regulatory actions taken with respect to the Company, prudential agreements between the Company and the Superintendent, and directions of the Superintendent that we cease or refrain from committing, or remedy, unsafe or unsound practices in
conducting our business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Provincial Insurance Regulation </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Company
is also subject to provincial regulation and supervision in each province and territory of Canada in which it carries on business. Provincial insurance regulation is concerned primarily with the form of insurance contracts and the sale and marketing
of insurance and annuity products, including the licensing and supervision of insurance producers. Individual variable insurance contracts and the underlying segregated funds to which they relate are also subject to guidelines established by the
Canadian Council of Insurance Regulators (together with the Canadian Life and Health Insurance Association Inc.) which guidelines have regulatory standing in Ontario, are consistent with guidelines in Quebec adopted under the authority of Quebec
insurance legislation, and are generally followed by the regulators of all other provinces. These guidelines govern a number of matters relating to the sale of these products and the administration of the underlying segregated funds. Manufacturers
Life is licensed to transact business in all provinces and territories of Canada. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Provincial/Territorial Securities Laws </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Company&#146;s Canadian investment fund, dealer and asset management businesses are subject to Canadian provincial and territorial securities laws. Manulife Asset
Management Limited (&#147;MAML&#148;) is registered as a portfolio manager with the securities commissions in all Canadian provinces and territories, as an investment fund manager in the provinces of Ontario, Newfoundland and Labrador and Quebec, as
a commodity trading manager in Ontario, and as a derivatives portfolio manager in Quebec. Manulife Asset Management Investments Inc. (&#147;MAMII&#148;) is registered as an exempt market dealer with the securities commissions in all Canadian
provinces and territories. MAML and MAMII are subject to regulation by the applicable provincial securities regulators. Manulife Securities Investment Services Inc. (&#147;MSISI&#148;) is registered under provincial and territorial securities laws
to sell mutual funds across Canada and is subject to regulation by the applicable provincial and territorial securities regulators as well as the Mutual Fund Dealers Association (&#147;MFDA&#148;), a self-regulatory organization. MSISI is also
registered as an exempt market dealer in all Canadian provinces and territories. Manulife Securities Incorporated (&#147;MSI&#148;) is registered under provincial and territorial securities laws to sell investments across Canada and is subject to
regulation by the provincial and territorial securities regulators as well as the Investment Industry Regulatory Association of Canada (&#147;IIROC&#148;), a self-regulatory organization. MSI is also registered as a derivatives dealer in Quebec.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Consumer Protection for Financial Institution Failure </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Assuris was
created by the life and health insurance industry in Canada in 1990 to provide Canadian policyholders with protection in the event of the insolvency of their insurance company. Assuris is funded by its member insurance companies, including
Manufacturers Life and Manulife Assurance Company of Canada. Member companies of Assuris are assessed to build and maintain a liquidity fund at a minimum level of $100&nbsp;million. Members are then primarily subject to assessment on an &#147;as
needed&#148; basis. Effective in March 2019, the assessment base for member companies will be calculated using each member&#146;s&nbsp;solvency buffer (as opposed to the currently employed total capital required), subject to adjustments where the
member operates in foreign jurisdictions. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Canadian Investor Protection Fund (&#147;CIPF&#148;) has been created to provide clients with protection, within
defined limits, in the event of the insolvency of their IIROC investment dealer. The CIPF is funded by its member investment dealers, including MSI. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The MFDA
Investor Protection Corporation (&#147;IPC&#148;) has been created to provide clients with protection, within defined limits, in the event of the insolvency of their mutual fund dealer. The IPC is funded by its member mutual fund dealers, including
MSISI. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Canada Deposit Insurance Corporation (&#147;CDIC&#148;) is a federal crown corporation created by parliament in 1967 to protect deposits made with
member financial institutions in case of their failure. CDIC member institutions, including Manulife Bank and its subsidiary Manulife Trust Company, fund deposit insurance through premiums paid on the insured deposits that they hold. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>UNITED STATES </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>General Regulation at the State Level </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The various states in the United States have laws regulating transactions between insurers and other members of insurance holding company systems. Transactions between
the Company&#146;s U.S. insurers and their affiliates are subject to regulation by the states in which such insurance subsidiaries are domiciled and for certain limited matters, states in which they transact business. Most states have enacted
legislation that requires each insurance holding company and each insurance subsidiary in an insurance holding company system to register with, and be subject to regulation by, the insurance regulatory authority of the insurance subsidiary&#146;s
state of domicile. The Company&#146;s principal U.S. life insurance subsidiaries are John Hancock Life Insurance Company (U.S.A.) (&#147;JHUSA&#148;), John Hancock Life Insurance Company of New York (&#147;JHNY&#148;) and John Hancock
Life&nbsp;&amp; Health Insurance Company (&#147;JHLH&#148;). They are domiciled in Michigan, New York and Massachusetts, respectively. Under such laws, the insurance subsidiaries are required to annually furnish financial and related information
concerning the operations of companies within the holding company system that may materially affect the operations, management or financial condition of insurers within the system. These reports are also filed with other insurance departments on
request. In addition, such laws provide that all transactions within an insurance holding company system must be fair and equitable, and following any such transactions, each insurer&#146;s policyholder surplus must be both reasonable in relation to
its outstanding liabilities and adequate for its needs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The laws of the various states also establish regulatory agencies with broad administrative powers, such as
the power to approve policy forms, grant and revoke licenses to transact business, regulate trade practices, license agents, require financial statements and prescribe the type and amount of investment permitted. State insurance regulatory
authorities regularly make inquiries, hold investigations and administer market conduct examinations with respect to an insurer&#146;s compliance with applicable insurance laws and regulations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Insurance companies are required to file detailed annual statements with state insurance regulators in each of the states in which they do business and their business
and accounts are subject to examination by such regulators at any time. Quarterly statements must also be filed with the state insurance regulator in the insurer&#146;s state of domicile and with the insurance departments of many of the states in
which the insurer does business. Insurance regulators may periodically examine an insurer&#146;s financial condition, adherence to statutory accounting practices and compliance with insurance department rules and regulations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">State insurance departments, as part of their routine oversight process, conduct detailed examinations of the books, records and accounts of insurance companies
domiciled in their states. These examinations are generally conducted in accordance with the examining state&#146;s laws and the guidelines promulgated by the National Association of Insurance Commissioners, an association of the chief insurance
supervisory officials of each state, territory or possession of the United States (the &#147;NAIC&#148;). Each of the Company&#146;s principal U.S. domiciled insurance subsidiaries is subject to periodic examinations by its respective domiciliary
state insurance regulators. The latest published examination reports issued by each such insurance department did not raise any material issues or adjustments. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">10 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Investment Powers </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The
Company&#146;s U.S. insurance subsidiaries are subject to laws and regulations that require diversification of their investment portfolios and limit the amount of investments in certain investment categories such as below investment grade bonds and
real estate. Failure to comply with these laws and regulations may cause investments exceeding regulatory limitations to be treated as <FONT STYLE="white-space:nowrap">non-admitted</FONT> assets for the purposes of measuring statutory surplus and in
some circumstances would require divestiture of the <FONT STYLE="white-space:nowrap">non-qualifying</FONT> assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Minimum Statutory Surplus and Capital
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Company&#146;s U.S. domiciled life insurance subsidiaries are required to have minimum statutory surplus and capital of various amounts, depending on the
state in which they are licensed and the types of business they transact. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>NAIC IRIS Ratios </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The NAIC uses a set of financial relationships or &#147;tests,&#148; known as the Insurance Regulatory Information System (&#147;IRIS&#148;), which are designed for the
early identification of insurance companies which might warrant special attention by insurance regulatory authorities. Insurance companies submit data annually to the NAIC, which in turn analyzes the data utilizing 12 ratios, each with defined
&#147;usual ranges.&#148; Having ratios that fall outside the usual range does not necessarily indicate that a company experienced unfavourable results. An insurance company may fall out of the usual range for one or more ratios because of
transactions that are favourable (such as large increases in surplus) or are immaterial or eliminated at the consolidated level. Each company&#146;s ratios are reviewed annually and are assigned a ranking by a team of examiners and financial
analysts at the NAIC for the purpose of identifying companies that require immediate regulatory attention. The rankings are not reported to the companies and are only available to regulators. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Risk-Based Capital Requirements </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In order to enhance the regulation of
insurer solvency, state regulators have adopted the NAIC model law implementing RBC requirements for life insurance companies. The requirements are designed to monitor capital adequacy and to raise the level of protection that statutory surplus
provides for policyholders. The model law measures four major areas of risk facing life insurers: (i)&nbsp;the risk of loss from asset defaults and asset fluctuation; (ii)&nbsp;the risk of loss from adverse mortality and morbidity experience;
(iii)&nbsp;the risk of loss from mismatching of asset and liability cash flows due to changing interest rates; and (iv)&nbsp;general business risk. Insurers having less statutory surplus than required by the RBC model formula are subject to varying
degrees of regulatory action depending on the level of capital inadequacy. Based on the formula adopted by the NAIC, each of the Company&#146;s U.S. insurance company subsidiaries exceeded the RBC capital requirements as at December&nbsp;31, 2018.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Regulation of Shareholder Dividends and Other Payments from Insurance Subsidiaries </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Manulife&#146;s ability to meet debt service obligations and pay operating expenses and shareholder dividends depends on the receipt of sufficient funds from its
operating subsidiaries. Our U.S. operating subsidiaries are indirectly owned by Manufacturers Life. The payment of dividends by JHUSA is subject to restrictions set forth in the insurance laws of Michigan, its domiciliary state. Similarly, the
payment of dividends by JHNY and JHLH is regulated by New York and Massachusetts insurance laws, respectively. In all three states, regulatory approval is required if proposed shareholder dividend distributions exceed certain thresholds. In
addition, general regulations relating to an insurer&#146;s financial condition and solvency may also preclude or restrict the amount of dividends that may be paid by the Company&#146;s U.S. insurance subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Federal Securities and Commodity Laws </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Certain of the Company&#146;s
subsidiaries and certain investment funds, policies and contracts offered by them are subject to regulation under federal securities laws administered by the SEC and under certain state securities laws. Certain segregated funds of the Company&#146;s
insurance subsidiaries are registered as investment companies under the <I>Investment Company Act of 1940</I>, as are certain other funds managed by subsidiaries of the Company. Interests in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">11 </P>

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segregated funds under certain variable annuity contracts and variable insurance policies issued by the Company&#146;s insurance subsidiaries are also registered under the U.S. <I>Securities Act
of 1933</I>. Each of John Hancock Distributors LLC and John Hancock Funds, LLC is registered as a broker-dealer under the U.S. Securities Exchange Act of 1934 and each is a member of, and subject to regulation by, the Financial Industry Regulatory
Authority. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Each of John Hancock Advisers, LLC, Manulife Asset Management (U.S.) LLC, Hancock Natural Resource Group, Inc., Hancock Venture Partners, Inc., Hancock
Capital Investment Management, LLC, John Hancock Investment Management Services, LLC, Manulife Asset Management (North America) Limited and John Hancock Personal Financial Services, LLC is an investment adviser registered under the U.S.
<I>Investment Advisers Act of 1940</I>. Certain investment companies advised or managed by these subsidiaries are registered with the SEC under the <I>Investment Company Act of 1940</I> and the shares of certain of these entities are qualified for
sale in certain states in the United States and the District of Columbia. All aspects of the investment advisory activities of the Company&#146;s subsidiaries are subject to various federal and state laws and regulations in jurisdictions in which
they conduct business. These laws and regulations are primarily intended to benefit investment advisory clients and investment company shareholders and generally grant supervisory agencies broad administrative powers, including the power to limit or
restrict the carrying on of business for failure to comply with such laws and regulations. In such event, the possible sanctions that may be imposed include the suspension of individual employees, limitations on the activities in which the
investment advisor may engage, suspension or revocation of the investment advisor&#146;s registration as an advisor, censure and fines. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The <I>Commodity Exchange
Act</I> may regulate certain of the Company&#146;s segregated funds and registered funds as a &#147;commodity pool&#148;, and certain of the Company&#146;s registered advisers as a &#147;commodity pool operator&#148; or a &#147;commodity trading
advisor&#148;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>State Guaranty Funds </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">All states of the United States
have insurance guaranty fund laws requiring life insurance companies doing business in the state to participate in a guaranty association which, like Assuris in Canada, is organized to protect policyholders against loss of benefits in the event of
an insolvency or <FONT STYLE="white-space:nowrap">wind-up</FONT> of a member insurer. These associations levy assessments (up to prescribed limits) on the basis of the proportionate share of premiums written by member insurers in the lines of
business in which the impaired or insolvent insurer is engaged. Assessments levied against the Company in each of the past five years have not been material. While the amount of any future assessments by guaranty funds cannot be predicted with
certainty, the Company believes, based upon a review of the current significant insolvency proceedings of insurers located in states where the Company conducts business, that future guaranty association assessments for insurer insolvencies will not
have a material adverse effect on the Company&#146;s liquidity and capital resources. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Employee Retirement Income Security Act of 1974 (&#147;ERISA&#148;)
Considerations </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Fiduciaries of employee benefit plans that are governed by ERISA are subject to regulation by the U.S. Department of Labor. ERISA regulates the
activities of a fiduciary of an employee benefit plan covered by that law, including an investment manager or advisor with respect to the plan&#146;s assets. Certain of the Company&#146;s subsidiaries offer personalized retirement investment advice
to ERISA plan participants through the use of digital capabilities. Such service may cause such subsidiaries to be deemed fiduciaries under applicable law or regulation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Company&#146;s subsidiaries also provide a variety of services to employee benefit plans. The provision of such services may cause the Company and its subsidiaries
to be a &#147;party in interest,&#148; as such term is defined in ERISA and the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;), with respect to such plans. Certain transactions between parties in interest and those plans are
prohibited by ERISA and the Code. Unless a statutory or administrative exemption is available, severe penalties and excise taxes are imposed by ERISA and the Code on fiduciary breaches and prohibited transactions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">12 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>ASIA </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In Asia, local
insurance authorities supervise and monitor the Company&#146;s business and financial condition in each of the countries and territories in which the Company operates. The Company is also required to meet specific minimum working and regulatory
capital requirements and is subject to regulations governing the investment of such capital in each of these jurisdictions. Hong Kong and Japan are the regulatory jurisdictions governing Manulife&#146;s most significant operations in Asia. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Hong Kong </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In Hong Kong, the authority and responsibility for supervision of
the insurance industry is vested in the Insurance Authority (&#147;IA&#148;) under the amended<I> Insurance Ordinance, Cap. 41 </I>(the &#147;Insurance Ordinance&#148;, formerly known as the Insurance Companies Ordinance). Most of the amendments to
the Insurance Ordinance came into force in December 2015 and June 2017. The remaining amendments, relating to the centralized regulation on intermediaries, are expected to be implemented in <FONT STYLE="white-space:nowrap">mid-2019.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Chief Executive of the Government of the Hong Kong Special Administrative Region appoints the members of the IA for the purposes of the Insurance Ordinance. The
Insurance Ordinance provides that no person shall carry on any insurance business in or from Hong Kong except a company authorized to do so by the IA, Lloyd&#146;s of the United Kingdom or an association of underwriters approved by the IA. The
Insurance Ordinance stipulates certain requirements for authorized insurers, including robust corporate governance, enhanced &#147;fit and proper person&#148; requirements for directors, controllers and several key persons in control functions such
as financial control, compliance, risk management, intermediary management, actuary and internal audit, and minimum capital and solvency margin requirements, adequate reinsurance arrangement requirements and statutory reporting requirements. The
Insurance Ordinance also confers powers of inspection, investigation and intervention on the IA for the protection of policyholders and potential policyholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The IA has residual power to appoint an advisor or a manager to any authorized insurer if the IA considers such appointment to be desirable for the protection of
policyholders or potential policyholders against the risk that the insurer may be unable to meet its liabilities or to fulfill the reasonable expectations of policyholders or potential policyholders and that, in the IA&#146;s opinion, the exercise
of other interventionary powers conferred by the Insurance Ordinance would not be appropriate to safeguard the interests of policyholders or potential policyholders. In such circumstances, the advisor or manager appointed by the IA will have
management control of the insurer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In Hong Kong, the Company&#146;s life insurance business is conducted through a branch of a wholly owned Bermuda subsidiary,
Manulife (International) Limited, which is licensed to carry on the business of &#147;long-term&#148; insurance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Long-term insurance companies are required under
the Insurance Ordinance to maintain certain solvency margins. The required solvency margin is the aggregate of two components: (i)&nbsp;a percentage of the mathematical reserves; and (ii)&nbsp;a percentage of the capital at risk as prescribed under
the Insurance (Margin of Solvency) Rules (Cap.41F), enacted pursuant to the Insurance Ordinance. For a long-term insurance company, the value of its assets must not be less than the amount of its liabilities by the required solvency margin, subject
to a minimum of Hong Kong $2&nbsp;million. Compliance with the solvency margin requirements is reported annually to the IA. Currently, all solvency margin requirements are being met. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The sale of mutual funds and the issuance of advertisements, invitations or documents in relation to collective investment schemes which contain an invitation to
acquire an interest are subject to Hong Kong securities laws administered by the Securities and Futures Commission. The sale of pension fund products is subject to the supervision of the Mandatory Provident Fund Schemes Authority. The sales of
investment-linked assurance and group life and health products are subject to the supervision of the IA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Japan </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Life insurance companies in Japan, including Manulife Life Insurance Company (&#147;Manulife Japan&#148;), are governed by the <I>Insurance Business Law</I> and the
regulations issued thereunder (the &#147;IB Law&#148;). The IB Law sets out a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">13 </P>

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comprehensive regulatory regime for Japanese life insurers, including such matters as capital and solvency requirements, powers of regulatory intervention, new insurance products and restrictions
on shareholder dividends and distributions. The administration and application of the IB Law is supervised by the Financial Services Agency (&#147;FSA&#148;). The IB Law provides for certain rules with respect to the approval of new insurance
products and the setting of premium levels. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Revisions to the IB Law incorporate obligations relating to sales of insurance products such as understanding
customer&#146;s intention and provision of relevant information to customers, as well as agencies&#146; obligation to develop their own controls framework including <FONT STYLE="white-space:nowrap">non-exclusive</FONT> agencies&#146; obligation to
recommend a product based on a comparison with similar products. The revised law came into effect on May&nbsp;29, 2016. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The FSA published on March&nbsp;30, 2017,
Principles for Customer-Oriented Business Operations that recommend financial institutions, including insurers, among others, take the following actions: (1)&nbsp;Develop and make public a policy for a customer-oriented business; (2)&nbsp;Provide
thorough disclosure of detailed fees and expenses of financial products to customers; (3)&nbsp;Provide important information in an easy to understand manner; and (4)&nbsp;Provide services suited to each customer. Manulife Japan established a policy
as a &#147;Customer Promise&#148; and made it public on June&nbsp;9, 2017 on its website. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Investment managers in Japan, including Manulife Asset Management (Japan)
Limited, are governed by the <I>Financial Instruments and Exchange Act (Japan)</I>, and the regulations issued thereunder (the &#147;FIEA&#148;). The FIEA sets out a comprehensive regulatory regime for investment managers that do business in Japan,
including the registration requirement for investment managers, filing requirements for public offerings of investment trusts, behaviour regulations and other matters. Persons who conduct investment management business in Japan (management of
investment trusts and/or discretionary investment management business) must be registered with the FSA under the FIEA. The registered investment managers are supervised by the FSA or local financial bureaus. The <I>Investment Trust and Investment
Corporation Act (Japan)</I> provides structural requirements for investment trust funds organized within Japan and also governs managers of such domestic investment trusts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Restrictions on Shareholder Dividends </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In Asia, insurance and company laws
in the jurisdictions in which the Company operates provide for specific restrictions on the payment of shareholder dividends and other distributions by the Company&#146;s subsidiaries, or impose solvency or other financial tests, which could affect
the ability of these subsidiaries to pay dividends in certain circumstances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>GENERAL DESCRIPTION OF CAPITAL STRUCTURE </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC has authorized share capital consisting of an unlimited number of common shares (&#147;Common
Shares&#148;), an unlimited number of Class&nbsp;A Shares (&#147;Class&nbsp;A Shares&#148;), an unlimited number of Class&nbsp;B Shares (&#147;Class&nbsp;B Shares&#148;) and an unlimited number of Class&nbsp;1 Shares (&#147;Class&nbsp;1
Shares&#148;) (collectively, the Class&nbsp;A Shares, Class&nbsp;B Shares and Class&nbsp;1 Shares are &#147;Preferred Shares&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">As of December&nbsp;31, 2018,
MFC had the following Common Shares, Class&nbsp;A Shares and Class&nbsp;1 Shares issued: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="83%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Common Shares</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,971,002,948</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;A Shares Series 2</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;A Shares Series 3</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 3</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,335,831</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 4</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 5</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:11pt; font-family:ARIAL"></P></TD>
<TD VALIGN="bottom" ALIGN="right">1,664,169<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right">8,000,000</P></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:11pt; font-family:ARIAL">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 7</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 9</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 11</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 13</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 15</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">14 </P>

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<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 17</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 19</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 21</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 23</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares Series 25</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC has authorized but not issued Class&nbsp;1 Shares Series 6, Class&nbsp;1 Shares Series 8, Class&nbsp;1 Shares Series 10,
Class&nbsp;1 Shares Series 12, Class&nbsp;1 Shares Series 14, Class&nbsp;1 Shares Series 16, Class&nbsp;1 Shares Series&nbsp;18, Class&nbsp;1 Shares Series&nbsp;20, Class&nbsp;1 Shares Series 22, Class&nbsp;1 Shares Series 24, and Class&nbsp;1
Shares Series 26. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Certain Provisions of the Class&nbsp;A Shares as a Class </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The following is a summary of certain provisions attaching to the Class&nbsp;A Shares as a class. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><I>Priority </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Each series of Class&nbsp;A Shares ranks on a parity with every
other series of Class&nbsp;A Shares and every series of Class&nbsp;1 Shares with respect to dividends and return of capital. The Class&nbsp;A Shares shall be entitled to a preference over the Class&nbsp;B Shares, the Common Shares and any other
shares ranking junior to the Class&nbsp;A Shares with respect to priority in payment of dividends and in the distribution of assets in the event of the liquidation, dissolution or <FONT STYLE="white-space:nowrap">winding-up</FONT> of MFC, whether
voluntary or involuntary, or any other distribution of the assets of MFC among its shareholders for the specific purpose of winding up its affairs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Certain
Provisions of the Class&nbsp;B Shares as a Class </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The following is a summary of certain provisions attaching to the Class&nbsp;B Shares as a class. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><I>Priority </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Each series of Class&nbsp;B Shares ranks on a parity with every
other series of Class&nbsp;B Shares with respect to dividends and return of capital. The Class&nbsp;B Shares shall rank junior to the Class&nbsp;A Shares and the Class&nbsp;1 Shares with respect to priority in payment of dividends and in the
distribution of assets in the event of the liquidation, dissolution or winding up of MFC, whether voluntary or involuntary, or any other distribution of the assets of MFC among its shareholders for the specific purpose of winding up its affairs, but
the Class&nbsp;B Shares shall be entitled to a preference over the Common Shares and any other shares ranking junior to the Class&nbsp;B Shares with respect to priority in payment of dividends and the distribution of assets in the event of the
liquidation, dissolution or winding up of MFC, whether voluntary or involuntary, or any other distribution of the assets of MFC<I> </I>among its shareholders for the specific purpose of winding up its affairs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Certain Provisions of the Class&nbsp;1 Shares as a Class </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The following is a
summary of certain provisions attaching to the Class&nbsp;1 Shares as a class. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><I>Priority </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Each series of Class&nbsp;1 Shares ranks on a parity with every other series of Class&nbsp;1 Shares and every series of Class&nbsp;A Shares with respect to dividends
and return of capital. The Class&nbsp;1 Shares shall be entitled to a preference over the Class&nbsp;B Shares, the Common Shares and any other shares ranking junior to the Class&nbsp;1 Shares with respect to priority in payment of dividends and in
the distribution of assets in the event of the liquidation, dissolution or <FONT STYLE="white-space:nowrap">winding-up</FONT> of MFC, whether voluntary or involuntary, or any other distribution of the assets of MFC among its shareholders for the
specific purpose of winding up its affairs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Certain Provisions Common to the Class&nbsp;A Shares, Class&nbsp;B Shares and Class&nbsp;1 Shares </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The following is a summary of certain provisions attaching to the Class&nbsp;A Shares as a class, to the Class&nbsp;B Shares as a class and to the Class&nbsp;1 Shares
as a class. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">15 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><I>Directors&#146; Right to Issue in One or More Series </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Class&nbsp;A Shares, Class&nbsp;B Shares and Class&nbsp;1 Shares may be issued at any time and from time to time in one or more series. Before any shares of a
series are issued, the Board shall fix the number of shares that will form such series, if any, and shall, subject to any limitations set out in the <FONT STYLE="white-space:nowrap">by-laws</FONT> of MFC or in the ICA, determine the designation,
rights, privileges, restrictions and conditions to be attached to the Class&nbsp;A Shares, Class&nbsp;B Shares or Class&nbsp;1 Shares as the case may be, of such series, the whole subject to the filing with the Superintendent of the particulars of
such series, including the rights, privileges, restrictions and conditions determined by the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Summaries of the terms for each series of the Class&nbsp;A
Shares and Class&nbsp;1 Shares that have been issued or authorized for issuance<B> </B>are contained in the prospectuses relating to such shares, which are available on SEDAR. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><I>Voting Rights of Preferred Shares </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Except as hereinafter referred to or as
required by law or as specified in the rights, privileges, restrictions and conditions attached from time to time to any series of Class&nbsp;A Shares, Class&nbsp;B Shares or Class&nbsp;1 Shares, the holders of such Class&nbsp;A Shares, Class&nbsp;B
Shares or Class&nbsp;1 Shares as a class shall not be entitled as such to receive notice of, to attend or to vote at any meeting of the shareholders of MFC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><I>Amendment with Approval of Holders of Preferred Shares </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The rights,
privileges, restrictions and conditions attached to each of the Class&nbsp;A Shares, Class&nbsp;B Shares and Class&nbsp;1 Shares as a class may be added to, changed or removed but only with the approval of the holders of such class of Preferred
Shares given as hereinafter specified. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><I>Approval of Holders of Preferred Shares </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The approval of the holders of a class of Preferred Shares to add to, change or remove any right, privilege, restriction or condition attaching to such class of
Preferred Shares as a class or in respect of any other matter requiring the consent of the holders of such class of Preferred Shares may be given in such manner as may then be required by law, subject to a minimum requirement that such approval be
given by resolution signed by all the holders of such class of Preferred Shares or passed by the affirmative vote of at least <FONT STYLE="white-space:nowrap">two-thirds</FONT> (2/3) of the votes cast at a meeting of the holders of such class of
Preferred Shares duly called for that purpose. Notwithstanding any other condition or provision of any class of Preferred Shares, the approval of the holders of any class, voting separately as a class or series, is not required on a proposal to
amend the <FONT STYLE="white-space:nowrap">by-laws</FONT> of MFC to: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">increase or decrease the maximum number of authorized Class&nbsp;A Shares, Class&nbsp;B Shares or Class&nbsp;1 Shares, as
the case may be, or increase the maximum number of authorized shares of a class of shares having rights or privileges equal or superior to such class of Preferred Shares; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">effect the exchange, reclassification or cancellation of all or any part of the Class&nbsp;A Shares, Class&nbsp;B Shares
or Class&nbsp;1 Shares, as the case may be; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">create a new class of shares equal to or superior to the Class&nbsp;A Shares, the Class&nbsp;B Shares or the Class&nbsp;1
Shares, as the case may be. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The formalities to be observed with respect to the giving of notice of any such meeting or any adjourned meeting, the
quorum required therefor and the conduct thereof shall be those from time to time required by the ICA as in force at the time of the meeting and those, if any, prescribed by the <FONT STYLE="white-space:nowrap">by-laws</FONT> or the administrative
resolutions of MFC with respect to meetings of shareholders. On every poll taken at every meeting of the holders of a class of Preferred Shares as a class, or at any joint meeting of the holders of two or more series of a class of Preferred Shares,
each holder of such class of Preferred Shares entitled to vote thereat shall have one vote in respect of each relevant Preferred Share held. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">16 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Certain Provisions of the Common Shares as a Class </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The authorized common share capital of MFC consists of an unlimited number of Common Shares without nominal or par value. Each holder of Common Shares is entitled to
receive notice of and to attend all meetings of the shareholders of MFC and is entitled to one vote for each share held except for meetings at which only holders of another specified class or series of shares of MFC are entitled to vote separately
as a class or series. The holders of Common Shares are entitled to receive dividends as and when declared by the Board, subject to the preference of the holders of Class&nbsp;A Shares, Class&nbsp;B Shares, Class&nbsp;1 Shares and any other shares
ranking senior to the Common Shares with respect to priority in payment of dividends. After payment to the holders of Class&nbsp;A Shares, Class&nbsp;B Shares, Class&nbsp;1 Shares and any other shares ranking senior to Common Shares with respect to
priority in the distribution of assets in the event of the liquidation, dissolution or <FONT STYLE="white-space:nowrap">winding-up</FONT> of MFC, the holders of Common Shares shall be entitled to receive prorated the net assets of MFC remaining,
after the payment of all creditors and liquidation preferences, if any, that pertains to shareholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>DIVIDENDS </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The declaration and payment of dividends and the amount thereof is subject to the discretion of the Board and is dependent upon the results of operations, financial
condition, cash requirements and future prospects of, and regulatory restrictions on the payment of dividends by, the Company and other factors deemed relevant by the Board. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Since MFC is a holding company that conducts all of its operations through regulated insurance subsidiaries (or companies owned directly or indirectly by these
subsidiaries), its ability to pay future dividends will depend on the receipt of sufficient funds from its regulated insurance subsidiaries. These subsidiaries are also subject to certain regulatory restrictions under laws in Canada, the United
States and certain other countries that may limit their ability to pay dividends or make other upstream distributions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Pursuant to an agreement made between MFC,
Manufacturers Life, CIBC Mellon Trust Company (&#147;CIBC Mellon&#148;) and Manulife Financial Capital Trust II (a subsidiary of Manufacturers Life) (the &#147;Trust II&#148;), MFC and Manufacturers Life have covenanted for the benefit of holders of
the outstanding Manulife Financial Capital Trust II Notes &#150; Series I (the &#147;Notes&#148;) that, if interest is not paid in full in cash on the Notes on any interest payment date or if Manufacturers Life elects that holders of Notes invest
interest payable on the Notes on any interest payment date in a new series of Manufacturers Life Class&nbsp;1 Shares, Manufacturers Life will not declare or pay cash dividends on any MLI Public Preferred Shares (as defined below), if any are
outstanding, and if no MLI Public Preferred Shares are outstanding, MFC will not declare or pay cash dividends on its Preferred Shares and Common Shares, in each case, until the sixth month following such deferral date. &#147;MLI Public Preferred
Shares&#148; means, at any time, preferred shares of Manufacturers Life which at that time: (a)&nbsp;have been issued to the public (excluding any preferred shares of Manufacturers Life held beneficially by affiliates of Manufacturers Life); (b) are
listed on a recognized stock exchange; and (c)&nbsp;have an aggregate liquidation entitlement of at least $200&nbsp;million, provided however, if at any time, there is more than one class of MLI Public Preferred Shares outstanding, then the most
senior class or classes of outstanding MLI Public Preferred Shares shall, for all purposes, be the MLI Public Preferred Shares. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">17 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC has paid the following cash dividends in the period from January&nbsp;1, 2016 to December&nbsp;31, 2018: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD></TR>
<TR STYLE="font-size:1pt" BGCOLOR="#00af41">
<TD HEIGHT="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Type of
Shares</FONT></B></FONT></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2017&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>Common
Shares</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.91</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.82</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.74</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL"><B>Preferred
Shares</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;A Shares
Series 2</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1625</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1625</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1625</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;A Shares
Series 3</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1250</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1250</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1250</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 3</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.5445</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.5445</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.7973</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 4<SUP STYLE="font-size:85%; vertical-align:top">3</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.6536</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.4918</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.2431</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 5</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9728</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9728</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1000</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 7</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.0780</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.0960</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1500</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 9</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.0878</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.0969</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1000</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 11</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1371</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.0000</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.0000</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 13</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9884</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9500</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9500</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 15</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9750</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9750</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9750</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 17</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9750</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9750</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9750</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 19</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9500</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9500</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9500</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 21</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.4000</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.4000</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.1411</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 23<SUP STYLE="font-size:85%; vertical-align:top">4</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.2125</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$1.2980</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Class&nbsp;1 Shares
Series 25<SUP STYLE="font-size:85%; vertical-align:top">5</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">$0.9706</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The 2018, 2017 and 2016 dividends on the Common Shares, the Class&nbsp;A Shares and the Class&nbsp;1 Shares were paid quarterly in
March, June, September and December. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>CONSTRAINTS ON OWNERSHIP OF SHARES </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The ICA contains restrictions on the purchase or other acquisition, issue, transfer and voting of the shares of MFC. Pursuant to these restrictions, no person is
permitted to acquire any shares of MFC if the acquisition would cause the person to have a &#147;significant interest&#148; in any class of shares of MFC, unless the prior approval of the Minister of Finance (Canada) is obtained. The restrictions
also prohibit any person from becoming a &#147;major shareholder&#148; of MFC. In addition, MFC is not permitted to record in its securities register any transfer or issue of shares if the transfer or issue would cause the person to breach the
ownership restrictions. For these purposes, a person has a significant interest in a class of shares of MFC where the aggregate of any shares of that class beneficially owned by that person, any entity controlled by that person and by any person
associated or acting jointly or in concert with that person exceeds 10% of all the outstanding shares of that class of shares of MFC. A person is a major shareholder if the aggregate of any shares in a class of voting shares held by that person and
by any entity controlled by that person exceeds 20% of the outstanding shares of that class, or, for a class of <FONT STYLE="white-space:nowrap">non-voting</FONT> shares, a holding exceeds 30% of that class. If a person contravenes any of these
restrictions, the Minister of Finance may, by order, direct such person to dispose of all or any portion of those shares. In addition, the ICA prohibits life insurance companies, including MFC, from recording in its securities register a transfer or
issue of any share to Her Majesty in right of Canada or of a province, an agent or agency of Her Majesty, a foreign government or an agent or agency of a foreign government and provides further that no person may exercise the voting rights attached
to those shares of an insurance company. The ICA exempts from such constraints certain foreign financial institutions which are controlled by foreign governments and eligible agents provided certain conditions are satisfied. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Under applicable insurance laws and regulations in Michigan, New York and Massachusetts, no person may acquire control of any of the Company&#146;s insurance company
subsidiaries domiciled in any such state without obtaining prior approval of such state&#146;s insurance regulatory authority. Under applicable laws and regulations, any person acquiring, directly or indirectly, 10% or more of the voting securities
of any other person is presumed to have acquired &#147;control&#148; of such person. Thus, any person seeking to acquire 10% or more of the voting securities of MFC must obtain the </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">On June&nbsp;20, 2016, MFC converted 1,664,169 Class&nbsp;1 Shares Series 3 into 1,664,169 Class&nbsp;1 Shares Series 4.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Initial dividend of $0.388664 per share paid on March&nbsp;19, 2017, per Prospectus Supplement dated November&nbsp;15,
2016. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">5</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Initial dividend of $0.383082 per share paid on June&nbsp;19, 2018, per Prospectus Supplement dated February&nbsp;12,
2018. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">18 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">
prior approval of the insurance regulatory authorities in certain states including Michigan, Massachusetts and New York, or must demonstrate to the relevant insurance regulator&#146;s
satisfaction that the acquisition of such securities will not give them control of MFC. Under state law, the failure to obtain such prior approval would entitle MFC or the insurance regulatory authorities to seek judicial injunctive relief,
including enjoining the proposed acquisition or the voting of the acquired securities at any meeting of shareholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>RATINGS
</B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Credit rating agencies publish financial strength ratings on life insurance companies that are indicators of an insurance company&#146;s ability to meet
contract holder and policyholder obligations. Credit rating agencies also assign credit ratings, which are indicators of an issuer&#146;s ability to meet the terms of its obligations in a timely manner and are important factors in a company&#146;s
overall funding profile and ability to access external capital. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Ratings are important factors in establishing the competitive position of insurance companies,
maintaining public confidence in products being offered, and determining the cost of capital. A ratings downgrade, or the potential for such a downgrade could, among other things: increase our cost of capital and limit our access to the capital
markets; cause some of our existing liabilities to be subject to acceleration, additional collateral support, changes in terms, or additional financial obligations; result in the termination of our relationships with broker-dealers, banks, agents,
wholesalers and other distributors of our products and services; unfavourably impact our ability to execute on our hedging strategy; materially increase the number of surrenders, for all or a portion of the net cash values, by the owners of policies
and contracts we have issued, and materially increase the number of withdrawals by policyholders of cash values from their policies; and reduce new sales. Any of these consequences could adversely affect our results of operations and financial
condition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The following table summarizes, by type of securities, the ratings, outlook and ranking that MFC has received from approved rating organizations on its
outstanding securities as at February&nbsp;11, 2019. Note that some of the approved rating organizations may not have assigned ratings for all of the outstanding classes or series of instruments under each security type. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


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<TR STYLE="font-size:1pt" BGCOLOR="#00af41">
<TD HEIGHT="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-RIGHT:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">A.M. Best
Company</FONT></B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(&#147;A.M. Best&#148;)</FONT></B></FONT></P>
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">DBRS Limited</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(&#147;DBRS&#148;)</FONT></B></FONT></P>
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-RIGHT:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Fitch Ratings
Inc.</FONT></B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(&#147;Fitch&#148;)</FONT></B></FONT></P>
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">S&amp;P Global
Ratings</FONT></B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(&#147;S&amp;P&#148;)</FONT></B></FONT></P>
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" NOWRAP STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">Securities</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center">&nbsp;&nbsp;Rating/Outlook&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center">Rank</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000">&nbsp;&nbsp;Rating/Outlook&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center">Rank</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center">&nbsp;&nbsp;Rating/Outlook&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000">Rank</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000">Rating/Outlook</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000">Rank</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">Preferred Shares</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center">bbb&nbsp;/&nbsp;Stable</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center">&nbsp;&nbsp;9&nbsp;of&nbsp;21&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000"><FONT STYLE="white-space:nowrap">Pfd-2/&nbsp;Stable</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center">&nbsp;&nbsp;5&nbsp;of&nbsp;16&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT STYLE="white-space:nowrap">BBB-</FONT> / Stable</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000">&nbsp;&nbsp;10&nbsp;of&nbsp;19&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000"><FONT STYLE="white-space:nowrap">P-2&nbsp;(High)&nbsp;/</FONT><BR>&nbsp;&nbsp;BBB+&nbsp;/&nbsp;Stable&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000">&nbsp;&nbsp;4&nbsp;of&nbsp;18&nbsp;&nbsp;<BR>
<P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">6&nbsp;of&nbsp;20</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">Medium Term Notes&nbsp;and Senior&nbsp;Debt</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT STYLE="white-space:nowrap">a-</FONT> /&nbsp;Stable</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center">7&nbsp;of&nbsp;21</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000">A/&nbsp;Stable</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center">6&nbsp;of&nbsp;26</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT STYLE="white-space:nowrap">A-</FONT> / Stable</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000">7&nbsp;of&nbsp;19</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000">A&nbsp;/&nbsp;Stable</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000">6&nbsp;of&nbsp;22</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">Subordinated Debt</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">bbb+&nbsp;/&nbsp;Stable</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">8&nbsp;of&nbsp;21</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">A&nbsp;(low)&nbsp;/&nbsp;Stable</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">7&nbsp;of&nbsp;26</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">BBB+ / Stable</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">8&nbsp;of&nbsp;19</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT STYLE="white-space:nowrap">A-&nbsp;/&nbsp;Stable</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">7&nbsp;of&nbsp;22&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The security ratings accorded by the rating organizations are not a recommendation to purchase, hold or sell these securities and may be
subject to revision or withdrawal at any time by the rating organizations. Security ratings are intended to provide investors with an independent measure of the credit quality of an issue of securities. The Company provides certain rating agencies
with confidential, <FONT STYLE="white-space:nowrap">in-depth</FONT> information in support of the rating process. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Company has paid customary rating fees to
DBRS, Fitch and S&amp;P in connection with some or all of the above-mentioned ratings. In addition, the Company has made customary payments in respect of certain other services provided to the Company by each of A.M. Best, DBRS, Fitch, and S&amp;P
during the last two years. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">19 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>A.M. Best Ratings </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">A.M.
Best assigns ratings for preferred shares and debt in a range from &#147;aaa&#148; to &#147;c&#148;. These ratings provide an opinion of an entity&#146;s ability to meet ongoing financial obligations to security holders when due, and reflects the
risk that an issuer may not meet its contractual obligations. The modifiers plus (+) or minus (<B>-</B>)<B> </B>may be appended to a rating to denote a gradation within the category to indicate whether credit quality is near the top or bottom of a
particular rating category. Rating outlooks may be positive, stable, or negative, indicating the potential future direction a rating may move over a <FONT STYLE="white-space:nowrap">36-month</FONT> period. The Company&#146;s current rating outlook
is stable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Class&nbsp;A Shares and Class&nbsp;1 Shares have been assigned a &#147;bbb&#148; rating. The &#147;bbb&#148; ratings denotes a good ability
to meet the terms of the obligation, however the issue is more susceptible to changes in economic or other conditions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Medium Term Notes and Senior Debt
have been assigned an <FONT STYLE="white-space:nowrap">&#147;a-&#148;</FONT> rating, which denotes an excellent ability to meet the terms of the obligation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Subordinated Debt has been assigned a &#147;bbb+&#148; rating, which denotes a good ability to meet the terms of the obligation, however the issue is more
susceptible to changes in economic or other conditions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>DBRS Ratings </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">DBRS assigns ratings for preferred shares in a range from <FONT STYLE="white-space:nowrap">&#147;Pfd-1&#148;</FONT> to &#147;D&#148;. The DBRS preferred share rating
scale is used in the Canadian securities market and is meant to give an indication of the risk that a borrower will not fulfill its full obligations in a timely manner, with respect to both dividend and principal commitments. DBRS assigns ratings
for long-term obligations in a range from &#147;AAA&#148; to &#147;D&#148;. The scale provides an opinion on the risk that an issuer will fail to satisfy its financial obligations in accordance with the terms under which an obligation has been
issued. Every DBRS rating is based on quantitative and qualitative considerations relevant to the borrowing entity. Some rating categories are denoted by the subcategories &#147;high&#148; and &#147;low&#148;. The absence of either a
&#147;high&#148; or &#147;low&#148; designation indicates the rating is in the middle of the category. Each DBRS rating is appended with one of three rating trends &#150; &#147;Positive&#148;, &#147;Stable&#148;, or &#147;Negative&#148;. The rating
trend indicates the direction in which DBRS considers the rating may move if present circumstances continue, or in some cases, unless challenges are addressed; a positive or negative trend does not necessarily indicate that a rating change is
imminent. The Company&#146;s current ratings trend is stable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Class&nbsp;A Shares and Class&nbsp;1 Shares<B> </B>have been assigned a <FONT
STYLE="white-space:nowrap">&#147;Pfd-2&#148;</FONT> rating as they are considered to be of satisfactory credit quality. Protection of dividends and principal is still substantial, but earnings, the balance sheet and coverage ratios are not as strong
as <FONT STYLE="white-space:nowrap">&#147;Pfd-1&#148;</FONT> rated companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Medium Term Notes and Senior Debt have been assigned an &#147;A&#148;
rating, while MFC&#146;s Subordinated Debt has been assigned an &#147;A (low)&#148; rating. An obligation rated &#147;A&#148; or &#147;A (low)&#148; is of good credit quality, where the capacity for the payment of financial obligations is
substantial, but of lesser credit quality than &#147;AA&#148;. The Company may be vulnerable to future events, but qualifying negative factors are considered manageable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Fitch Ratings </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Fitch assigns ratings for preferred shares and debt in a
range from &#147;AAA&#148; to &#147;C&#148; and these ratings provide an opinion on the relative ability of an entity to meet financial commitments, such as interest, preferred dividends, repayment of principal, insurance claims or counterparty
obligations. These ratings are used by investors as indications of the likelihood of receiving the money owed to them in accordance with the terms on which they invested. These ratings do not directly address any risk other than credit risk. In
particular, ratings do not deal with the risk of a market value loss on a rated security due to changes in interest rates, liquidity and other market considerations. The modifiers &#147;+&#148; or &#147;<B>-</B>&#148; may be appended to a rating to
denote relative status within major rating categories. Rating outlooks indicate the direction a rating is likely to move over a <FONT STYLE="white-space:nowrap">one-</FONT> to <FONT STYLE="white-space:nowrap">two-year</FONT> period. Rating outlooks
may be positive, stable, negative or evolving. The Company&#146;s current rating outlook is stable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">20 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Class&nbsp;A Shares and Class&nbsp;1 Shares have been assigned a
<FONT STYLE="white-space:nowrap">&#147;BBB-&#148;</FONT> rating. The Company&#146;s capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Medium Term Notes and Senior Debt have been assigned an <FONT STYLE="white-space:nowrap">&#147;A-&#148;</FONT> rating. This rating denotes expectations of
low credit risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Subordinated Debt have been assigned a &#147;BBB+&#148; rating. This rating indicates that expectations of default risk are currently low. The capacity for
payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>S&amp;P Ratings
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">S&amp;P assigns ratings for Canadian preferred shares in a range from <FONT STYLE="white-space:nowrap">&#147;P-1&#148;</FONT> to &#147;D&#148; and these
ratings are a forward-looking opinion about the creditworthiness of an obligor with respect to a specific preferred share obligation issued in the Canadian market, relative to preferred shares issued by other issuers in the Canadian market. There is
a direct correspondence between the specific ratings assigned on the Canadian preferred share scale and the various rating levels on the global debt rating scale of S&amp;P. It is the practice of S&amp;P to present an issuer&#146;s preferred share
ratings on both the global ratings scale and the Canadian national scale when listing the ratings for a particular issuer. S&amp;P&#146;s Canadian scale preferred share ratings may be modified by the addition of &#147;High&#148; or &#147;Low&#148;
to show relative standing within the major rating categories. S&amp;P&#146;s global scale preferred share ratings may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.<B>
</B>Rating outlooks assess the potential direction of a long-term credit rating over the intermediate term (typically six months to two years). Rating outlooks may be positive, negative, stable, developing or not meaningful. The Company&#146;s
current rating outlook is stable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">S&amp;P assigns ratings for long-term obligations in a range from &#147;AAA&#148; to &#147;D&#148;. These ratings provide a
forward-looking opinion about the creditworthiness of an obligor with respect to a specific financial obligation, a specific class of financial obligations, or a specific financial program (including ratings on medium-term note programs and
commercial paper programs). S&amp;P&#146;s long-term issue credit ratings may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.<B> </B>Rating outlooks may be positive, negative,
stable, developing or not meaningful. The Company&#146;s current rating outlook is stable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Class&nbsp;A Shares and Class&nbsp;1 Shares have been
assigned a <FONT STYLE="white-space:nowrap">&#147;P-2</FONT> (High)&#148; rating on the Canadian scale, which corresponds to a &#147;BBB+&#148; rating on the global scale. The <FONT STYLE="white-space:nowrap">&#147;P-2</FONT> (High)&#148; rating
denotes that the specific obligation exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the
obligation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Medium Term Notes and Senior Debt have been assigned an &#147;A&#148; rating, while its Subordinated Debt has been assigned an <FONT
STYLE="white-space:nowrap">&#147;A-&#148;</FONT> rating. An obligation rated &#147;A&#148; or <FONT STYLE="white-space:nowrap">&#147;A-&#148;</FONT> is somewhat more susceptible to the adverse effects of changes in circumstances and economic
conditions than obligations in higher-rated categories. However, the obligor&#146;s capacity to meet its financial commitment on the obligation is still strong. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT
 COLOR="#00af41"><B>MARKET FOR SECURITIES </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Common Shares are listed for trading under the symbol &#147;MFC&#148; on the Toronto Stock Exchange
(&#147;TSX&#148;), the New York Stock Exchange (&#147;NYSE&#148;), and the Philippine Stock Exchange and under &#147;0945&#148; on The Stock Exchange of Hong Kong. The Class&nbsp;A Shares Series 2 and Class&nbsp;A Shares Series 3 preferred shares
are listed for trading on the TSX under the symbol &#147;MFC.PR.B&#148; and &#147;MFC.PR.C&#148;, respectively. The Class&nbsp;1 Shares Series 3, Class&nbsp;1 Shares Series 4, Class&nbsp;1 Shares Series 5, Class&nbsp;1 Shares Series 7, Class&nbsp;1
Shares Series 9, Class&nbsp;1 Shares Series 11, Class&nbsp;1 Shares Series 13, Class&nbsp;1 Shares Series 15, Class&nbsp;1 Shares Series 17, Class&nbsp;1 Shares Series 19, Class&nbsp;1 Shares Series 21, Class&nbsp;1 Shares Series 23 and Class&nbsp;1
Shares Series 25 preferred shares are listed for trading on </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">21 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">
the TSX under the symbol &#147;MFC.PR.F&#148;, &#147;MFC.PR.P&#148;, &#147;MFC.PR.G&#148;, &#147;MFC.PR.H&#148;, &#147;MFC.PR.I&#148;, &#147;MFC.PR.J&#148;, &#147;MFC.PR.K&#148;,
&#147;MFC.PR.L&#148;, &#147;MFC.PR.M&#148;, &#147;MFC.PR.N&#148;, &#147;MFC.PR.O&#148;, &#147;MFC.PR.R&#148; and &#147;MFC.PR.Q&#148;, respectively.&nbsp;&nbsp;&nbsp;&nbsp; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Trading Price and Volume </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The following table sets out the <FONT
STYLE="white-space:nowrap">intra-day</FONT> price range and trading volume of the Common Shares on the TSX and the NYSE for the period indicated. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">NYSE</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">High&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;&nbsp;&nbsp;(U.S.$)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Low&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;&nbsp;&nbsp;(U.S.$)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">January</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77,877</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16.61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,229</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">February</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.09</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95,456</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,065</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">March</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85,152</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,739</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">April</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64,160</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,465</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">May</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80,238</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,714</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">June</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58,874</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,842</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">July</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51,575</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,135</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">August</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58,526</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,587</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">September</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64,909</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,978</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">October</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.04</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">138,074</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14.82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31,130</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">November</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102,282</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15.63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,683</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">December</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">22.35</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">18.33</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">127,629</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">16.90</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">13.34</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">13,866</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The following tables set out the <FONT STYLE="white-space:nowrap">intra-day</FONT> price range and trading volume of the Class&nbsp;A
Shares Series 2 and Series 3 preferred shares and the Class&nbsp;1 Shares Series 3, Series 4, Series 5, Series 7, Series 9, Series 11, Series 13, Series 15, Series 17, Series 19, Series&nbsp;21, Series 23 and Series 25 preferred shares on the TSX
for the period indicated. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class A Shares Series 2</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class A Shares Series 3</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">January</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">204</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">February</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">220</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">169</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">March</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">345</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">313</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">April</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.09</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">122</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">May</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">371</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">145</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">June</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.08</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">284</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">July</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">210</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">115</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">August</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.06</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">266</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">September</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">131</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">October</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">210</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.09</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">281</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">November</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">227</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">225</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">December</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">20.68</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.00</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">265</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.99</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">18.45</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">293</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
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<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 3</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 4</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">January</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15.47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14.32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">192</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14.90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13.99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">February</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">169</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">March</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">157</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">April</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">May</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">311</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">June</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.41</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">18.80</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">20.19</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.30</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">22 </P>

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<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


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<TD WIDTH="45%"></TD>
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<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 3</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 4</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">July</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">153</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">August</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.09</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">September</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">October</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16.92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">290</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">November</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15.28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">December</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">15.76</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">13.42</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">318</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">16.93</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">13.81</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
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<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 5</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 7</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">January</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">473</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">178</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">February</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">219</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">305</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">March</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">156</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">278</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">April</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">258</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">May</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">714</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">June</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.08</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">July</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.02</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.08</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">August</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.01</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">September</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">October</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">330</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">293</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">November</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.06</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">115</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">189</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">December</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">21.21</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">18.40</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">164</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">22.60</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.69</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">253</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 9</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 11</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">January</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">299</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">282</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">February</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">117</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">284</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">March</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">134</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">225</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">April</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">134</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">233</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">May</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">134</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">183</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">June</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.04</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">127</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">July</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">254</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">August</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">268</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">September</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">134</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">280</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">October</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">342</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">334</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">November</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">169</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">131</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">December</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">21.57</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.23</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">398</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">22.16</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.44</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">201</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 13</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 15</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">January</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">287</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">136</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">February</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">170</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.02</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">March</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.08</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">244</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">April</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">142</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">May</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">115</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">June</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">23.05</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">20.38</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">23.34</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">22.24</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">23 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 13</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 15</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">July</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">August</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">273</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">September</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">October</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">215</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">198</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">November</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">269</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">121</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">December</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">20.85</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">17.63</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">202</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.71</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">16.96</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">210</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 17</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 19</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">January</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.01</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">419</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">123</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">February</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">March</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">April</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">225</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.04</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">May</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.06</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">156</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">116</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">June</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">302</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">272</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">July</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">August</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">September</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.09</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">148</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">October</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">310</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">November</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.07</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">186</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">December</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.71</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">17.61</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">233</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.61</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">17.10</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">138</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


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<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
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<TD></TD>
<TD></TD>
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<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
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<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 21</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 23</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">January</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27.14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">225</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.08</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,837</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">February</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">266</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">265</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">March</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">220</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">251</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">April</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">339</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">301</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">May</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">295</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">June</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">361</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.06</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">248</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">July</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">265</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">August</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">415</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">September</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">228</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">October</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">437</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">581</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">November</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26.24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">495</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">197</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">December</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">26.11</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">25.08</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">300</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">25.25</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">22.77</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">356</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt">


<TR>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 25</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">January</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">February</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,179</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">March</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">618</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">April</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">560</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">May</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">333</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">June</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">159</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">July</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">25.25</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">24.42</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">260</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">24 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="10" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">TSX &#150; Class 1 Shares Series 25</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;High&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Low&nbsp;(C$)&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Volume&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">(000s)&nbsp;&nbsp;</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">August</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">209</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">September</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.06</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">141</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">October</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24.97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22.60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">469</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">November</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23.97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19.99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">164</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">December</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">21.31</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">19.06</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">523</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>LEGAL PROCEEDINGS AND REGULATORY ACTIONS </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">A description of certain legal proceedings to which the Company is a party can be found in the section entitled &#147;Legal and Regulatory Proceedings&#148; in Note 18
to our 2018 Consolidated Financial Statements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Since January&nbsp;1, 2018, (a) there have been no penalties or sanctions imposed against us by a Canadian
securities regulatory authority, other than nominal late filing fees, or by a court relating to Canadian securities legislation, (b)&nbsp;there have been no other penalties or sanctions imposed by a court or regulatory body against us that would
likely be considered important to a reasonable investor in making an investment decision, and (c)&nbsp;we have not entered into any settlement agreements before a court relating to Canadian securities legislation or with a Canadian securities
regulatory authority. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>DIRECTORS AND EXECUTIVE OFFICERS </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>DIRECTORS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The <FONT STYLE="white-space:nowrap">by-laws</FONT> of MFC provide
that the Board shall consist of a minimum of seven and a maximum of 30 Directors, with the exact number of Directors to be elected at any annual meeting of MFC to be fixed by the Directors prior to such annual meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The following table sets forth the Directors of MFC, as of the date of this AIF, and for each Director, their province or state and country of residence, principal
occupation, years as a director and membership on board committees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Each Director is elected for a term of one year, expiring at the close of the next annual
meeting of the Company. The next annual meeting will occur on May&nbsp;2, 2019. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT
 COLOR="#ffffff">Name and</FONT></B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Residence</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Principal&nbsp;Occupation&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Director&nbsp;Since&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Board&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Committee&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Membership</FONT><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP><FONT COLOR="#ffffff">&nbsp;&nbsp;
</FONT></B></FONT></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">John M. Cassaday</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Chairman of the Board, MFC and Manufacturers&nbsp;&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Life<SUP
STYLE="font-size:85%; vertical-align:top"> (2)</SUP>&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">April 1993</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">CGNC<SUP STYLE="font-size:85%; vertical-align:top"> (3)</SUP></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Roy Gori</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">President and Chief Executive</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Officer, MFC and Manufacturers Life <SUP
STYLE="font-size:85%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">October 2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">N/A <SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Ronalee H. Ambrose</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Alberta, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">Corporate Director <SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">September 2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Audit</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">CGNC</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Joseph P. Caron</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">British Columbia, Canada&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">President, Joseph Caron Incorporated</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">(consulting firm)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">October 2010</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Audit</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">CGNC</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Susan F. Dabarno</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">Corporate Director</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">March 2013</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MRCC</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Risk</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Sheila S. Fraser</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">Corporate Director</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">November 2011</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Audit (Chair)</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">CGNC</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Luther S. Helms</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Arizona, United States</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Founder and Advisor, Sonata Capital Group</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">(investment advisory firm)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">May 2007</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Audit</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">CGNC</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">25 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT
 COLOR="#ffffff">Name and</FONT></B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Residence</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Principal&nbsp;Occupation&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">&nbsp;&nbsp;Director&nbsp;Since&nbsp;&nbsp;</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Board&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Committee&nbsp;&nbsp;</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Membership</FONT><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP><FONT COLOR="#ffffff">&nbsp;&nbsp;
</FONT></B></FONT></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Tsun-yan</FONT> Hsieh</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Singapore</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Chairman, LinHart Group Pte Ltd.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">(consulting firm)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">October 2011</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MRCC</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Risk</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">P. Thomas Jenkins</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Georgetown, Cayman Islands</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Chair, OpenText Corporation</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">(enterprise information management
company)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">March 2015</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MRCC</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Risk</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Donald R. Lindsay</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">British Columbia, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">President and Chief Executive Officer,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Teck Resources Limited</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">(diversified resources company)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">August 2010</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MRCC (Chair)</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Risk</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">John R.V. Palmer</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">Corporate Director</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">November 2009</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Audit</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">CGNC</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">C. James Prieur</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Illinois, United States</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">Corporate Director</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">January 2013</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MRCC</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Risk
(Chair)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Andrea S. Rosen</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">Corporate Director</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top">August 2011</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Audit</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">CGNC (Chair)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Lesley D. Webster</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Florida, United States</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">President, Daniels Webster Capital Advisors</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">(enterprise risk management consulting firm)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">October 2012</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MRCC</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Risk</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">Notes</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left"></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">In this table, Audit means Audit Committee, CGNC means Corporate Governance and Nominating Committee, MRCC means
Management Resources and Compensation Committee, and Risk means Risk Committee. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">John Cassaday was appointed Chairman of the Board effective May&nbsp;4, 2018. Prior to May 2018, Mr.&nbsp;Cassaday was
Vice-Chair of the Board, a position he had held since December&nbsp;7, 2017. Prior to December 2017, Mr.&nbsp;Cassaday was a corporate director. Prior to March 2015, he was President and Chief Executive Officer, Corus Entertainment Inc., a
broadcasting company. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Mr.&nbsp;Cassaday is a member of the CGNC. However, in his capacity as Chairman, Mr.&nbsp;Cassaday attends the meetings of
all committees whenever possible. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Roy Gori is not a member of any committee but attends committee meetings at the invitation of the
Chairman.&nbsp;&nbsp;&nbsp;&nbsp;From June&nbsp;5, 2017 to October&nbsp;1, 2017, Mr.&nbsp;Gori was President. From March 2015 to June&nbsp;5, 2017 he was Senior Executive Vice President and General Manager, Asia. Prior to March 2015, he was Regional
Head of Retail Banking, Asia Pacific/Head of Consumer Banking North Asia and Australia with Citigroup Pty Ltd. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Prior to July&nbsp;4, 2017, Ronalee Ambrose was a Member of Parliament of Canada and the former Leader of Canada&#146;s
Official Opposition in the House of Commons and a former leader of the Conservative Party of Canada. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>EXECUTIVE OFFICERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The name, province or state and country of residence, and position of each of the executive officers of Manulife are set forth in the following table as of
January&nbsp;1, 2019. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="59%"></TD></TR>
<TR STYLE="font-size:1pt" BGCOLOR="#00af41">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Name and Residence</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Position with Manulife</FONT></B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Roy Gori</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">President and Chief Executive Officer<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Michael J. Doughty</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">President and Chief Executive Officer, Manulife Canada<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Steven A. Finch</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Massachusetts, United States</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">Chief Actuary<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Gregory A. Framke</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">New Jersey, United States</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">Chief Information Officer<SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">James D. Gallagher</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Massachusetts, United States</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">General Counsel<SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Gretchen H. Garrigues</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Connecticut, United States</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">Global Chief Marketing Officer<SUP STYLE="font-size:85%; vertical-align:top">(6)</SUP></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Marianne Harrison</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Massachusetts, United States</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">President and Chief Executive Officer, John Hancock<SUP STYLE="font-size:85%; vertical-align:top">(7)</SUP></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Scott S. Hartz</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Massachusetts, United States</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">Global Head of General Account Investments<SUP STYLE="font-size:85%; vertical-align:top">(8)</SUP></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">26 </P>

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<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="59%"></TD></TR>
<TR STYLE="font-size:1pt" BGCOLOR="#00af41">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Name and Residence</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Position with Manulife</FONT></B></FONT></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Rahim Hirji</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">Chief Risk Officer</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Naveed Irshad</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">Head of North America Legacy Business<SUP STYLE="font-size:85%; vertical-align:top">(9)</SUP></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Pamela O. Kimmet</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Georgia, United States</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">Chief Human Resources Officer<SUP STYLE="font-size:85%; vertical-align:top">(10)</SUP></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Stephani E. Kingsmill</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">Senior Advisor to the Chief Executive Officer<SUP STYLE="font-size:85%; vertical-align:top">(11)</SUP></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Paul R. Lorentz</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">Head, Global Wealth and Asset Management<SUP STYLE="font-size:85%; vertical-align:top">(12)</SUP></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Linda P. Mantia</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">Chief Operating Officer<SUP STYLE="font-size:85%; vertical-align:top">(13)</SUP></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Warren A. Thomson</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">Chief Investment Officer<SUP STYLE="font-size:85%; vertical-align:top">(14)</SUP></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Anil Wadhwani</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Hong Kong Special Administrative Region of the People&#146;s Republic of China</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">President and Chief Executive Officer, Manulife Asia<SUP STYLE="font-size:85%; vertical-align:top">(15)</SUP></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Philip J. Witherington</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Ontario, Canada</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">Chief Financial Officer<SUP STYLE="font-size:85%; vertical-align:top">(16)</SUP></TD></TR>
</TABLE> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Notes </P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">From June&nbsp;5, 2017 to October&nbsp;1, 2017, Roy Gori was President. From March 2015 to June&nbsp;5, 2017 he was Senior
Executive Vice President and General Manager, Asia. Prior to March 2015, he was Regional Head of Retail Banking, Asia Pacific/Head of Consumer Banking North Asia and Australia with Citigroup Pty Ltd. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">From May&nbsp;24, 2017 to October&nbsp;1, 2017, Michael Doughty was Executive Vice President and Interim General Manager,
U.S. Division. Prior to May&nbsp;24, 2017, he was Executive Vice President, John Hancock Insurance, U.S. Division. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">From April 2016 to January&nbsp;1, 2018, Steve Finch was Executive Vice President and Chief Actuary. Prior to April 2016,
he was Executive Vice President and Chief Financial Officer &#150; U.S. Division, John Hancock Financial Services. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Prior to January 2016, Gregory Framke was the Executive Vice President and Chief Operations Officer at E*Trade Financial
Corp. including roles as Chief Operations Officer, Vice President Technology Strategy and Chief Information Officer. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">From October 2016 to December 2016, James Gallagher was Executive Vice President and Interim General Counsel. Prior to
October 2016, Mr.&nbsp;Gallagher was Executive Vice President, General Counsel and Chief Administrative Officer, U.S. Division. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">From June 2014 to August 2016, Gretchen Garrigues was Senior Vice President and Chief Marketing Officer, First Data Corp.
Prior to June 2014, Ms.&nbsp;Garrigues was Senior Managing Director, Global Strategic Marketing, GE Capital. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(7)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">From January 2013 to October&nbsp;1, 2017, Marianne Harrison was Senior Executive Vice President and General Manager,
Canadian Division. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(8)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Scott Hartz has been appointed Chief Investment Officer effective March&nbsp;1, 2019. Until such time as that appointment
is effective he remains Global Head of General Account Investments. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(9)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">From May 2014 to January&nbsp;1, 2018, Naveed Irshad was Senior Vice President and General Manager, Manulife Singapore.
Prior to May 2014, he was Senior Vice President, Global Accounts at Reinsurance Group of America, Incorporated. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(10)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">From July 2016 to August&nbsp;30, 2018, Pamela Kimmet was Chief Human Resources Officer, Cardinal Health Inc. Prior to
July 2016, she was Senior Vice President, Human Resources, Coca-Cola Enterprises Inc. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(11)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Prior to January&nbsp;1, 2018, Stephani Kingsmill was Executive Vice President, Human Resources. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(12)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Paul Lorentz has been appointed President and Chief Executive Officer, Global Wealth and Asset Management effective
March&nbsp;1, 2019. Until such time as that appointment is effective he remains Head, Global Wealth and Asset Management. Prior to October&nbsp;1, 2017, Paul Lorentz was Executive Vice President and General Manager Retail (Individual Life and Wealth
Management (Canadian Division)). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(13)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Prior to October 2016, Linda Mantia was Executive Vice President of Digital, Payments and Cards, Royal Bank of Canada.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(14)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">Effective February&nbsp;28, 2019, Warren Thomson will retire from Manulife. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(15)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">From July 2016 to November&nbsp;13, 2017, Anil Wadhwani was Global Consumer Bank Operations Head at Citibank N.A. Prior to
July 2016, he was Chief Executive Officer, Consumer and Commercial Bank, EMEA at Citibank N.A. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(16)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL; " ALIGN="left">From June 2017 to January&nbsp;1, 2018, Philip Witherington was Executive Vice President and Interim General Manager,
Asia. From May 2014 to June 2017, he was Executive Vice President, Chief Financial Officer, Asia Division. Prior to May 2014, he was Asia Pacific Head of Business Finance, Retail Banking and Wealth Management at The Hong Kong and Shanghai Bank
Corporation Limited. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>SHARE OWNERSHIP </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The number of
Common Shares held by Directors and executive officers of MFC as at December&nbsp;31, 2018 was 638,139, which represented less than 1% of the outstanding Common Shares. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">27 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>TRANSFER AGENT AND REGISTRAR </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">AST Trust Company (Canada) is the principal transfer agent and registrar for MFC&#146;s Common Shares. MFC&#146;s transfer agents and
<FONT STYLE="white-space:nowrap">co-transfer</FONT> agents are as follows (opposite their applicable jurisdictions): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="72%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"><U>Transfer Agent</U></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top">Canada:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">AST Trust Company (Canada)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">P.O. Box 700, Station B</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Montreal, Quebec, Canada, H3B 3K3</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Toll Free: <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-783-9495</FONT></FONT></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><U><FONT STYLE="white-space:nowrap">www.astfinancial.com/ca-en</FONT></U></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL"><U><FONT
STYLE="white-space:nowrap">www.astfinancial.com/ca-fr</FONT></U></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"><U><FONT STYLE="white-space:nowrap">Co-Transfer</FONT> Agents</U></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top">United States:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">American Stock Transfer&nbsp;&amp; Trust Company, LLC</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">P.O. Box
199036</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Brooklyn, NY 11219</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Toll Free: <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-249-7702</FONT></FONT></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL"><U>www.astfinancial.com</U></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top">Philippines:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Rizal Commercial Banking Corporation</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Ground Floor, West Wing</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">GPL (Grepalife) Building</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">221 Senator Gil Puyat Avenue</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Makati City, Philippines</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Telephone: 632 318 8567</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL"><U>www.rcbc.com</U></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top">Hong Kong:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Tricor Investor Services Limited</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Level&nbsp;22, Hopewell Centre</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">183 Queen&#146;s Road East</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Hong Kong</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Telephone: 852 2980-1333</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL"><U>www.tricorglobal.com</U></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>INTERESTS OF EXPERTS </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Ernst&nbsp;&amp; Young LLP, Chartered Professional Accountants, Licensed Public Accountants, Toronto, Canada, is the external auditor who prepared the Report of
Independent Registered Public Accounting Firm to the Shareholders and Board of Directors on the audited consolidated financial statements of the Company, and the Report of Independent Registered Public Accounting Firm to the Shareholders and Board
of Directors on Internal Control over Financial Reporting under Standards of the Public Company Accounting Oversight Board (United States).&nbsp;Ernst&nbsp;&amp; Young LLP is independent with respect to the Company within the meaning of the CPA Code
of Professional Conduct of the Chartered Professional Accountants of Ontario, United States federal securities laws and the rules and regulations thereunder, including the independence rules adopted by the SEC pursuant to the Sarbanes-Oxley Act of
2002 (&#147;SOX&#148;) and<B> </B>is in compliance with Rule 3520 of the Public Company Accounting Oversight Board (United States). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">28 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>AUDIT COMMITTEE </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Audit Committee Charter </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Audit Committee has adopted a formal Charter
that describes the Audit Committee&#146;s role and responsibilities. The Charter is set out in the attached Schedule 1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Audit Committee is responsible for
assisting the Board in its oversight role with respect to the quality and integrity of financial information, the effectiveness of the Company&#146;s internal control over financial reporting, the effectiveness of the Company&#146;s risk management
and compliance practices, the performance, qualifications and independence of the independent auditor, the Company&#146;s compliance with legal and regulatory requirements, the performance of the Company&#146;s finance, actuarial, internal audit and
global compliance functions, and the procedures relating to conflicts of interest, confidential information, related party transactions, and customer complaints.<B> </B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Composition of the Audit Committee </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">MFC&#146;s Audit Committee was composed
of the following members as at December&nbsp;31, 2018: Sheila Fraser (Chair of the Audit Committee), Rona Ambrose, Joseph Caron, Luther Helms, John Palmer and Andrea Rosen. The Board has reviewed the committee membership and determined that all
members are financially literate as required by the NYSE Listed Company Manual and the applicable instruments of the Canadian Securities Administrators. All committee members are independent, pursuant to applicable regulatory and stock exchange
requirements. The Board has also determined that Sheila Fraser, Luther Helms, John Palmer and Andrea Rosen have the necessary qualifications to be designated as audit committee financial experts under SOX. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Relevant Education and Experience </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In addition to the general business
experience of each member of the Audit Committee, the relevant education and experience of each member of MFC&#146;s Audit Committee in 2018 is as follows: Sheila Fraser holds a B. Comm from McGill University and is a Chartered Professional
Accountant. Ms.&nbsp;Fraser is a former partner at Ernst&nbsp;&amp; Young LLP and former Auditor General of Canada. Rona Ambrose holds a BA from the University of Victoria and an MA from the University of Alberta. Ms.&nbsp;Ambrose is the former
Vice-Chair of the Treasury Board. Joseph Caron holds a BA from the University of Ottawa and is the Principal&nbsp;&amp; Founder of Joseph Caron Incorporated. Luther Helms holds a BA from the University of Arizona and an MBA from the University of
Santa Clara. Mr.&nbsp;Helms is the Founder and Advisor of Sonata Capital Group and previously served as Vice Chairman of KeyBank West and as Vice Chairman of Bank of America Corporation. John Palmer holds a BA from the University of British
Columbia, is a Chartered Professional Accountant and is the former Deputy Chairman and Managing Partner of KPMG LLP (Canada) and the former Superintendent of OSFI. Andrea Rosen holds a BA from Yale University, an LLB from Osgoode Hall Law School and
an MBA from the Schulich School of Business at York University. Ms.&nbsp;Rosen previously served as Vice Chair of TD Bank Financial Group and as President of TD Canada Trust. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B><FONT STYLE="white-space:nowrap">Pre-Approval</FONT> Policies and Procedures </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Our auditor independence policy requires the Audit Committee to <FONT STYLE="white-space:nowrap">pre-approve</FONT> all audit and permitted <FONT
STYLE="white-space:nowrap">non-audit</FONT> services (including the fees and conditions) the external auditor provides. If a new service is proposed during the year that is outside the <FONT STYLE="white-space:nowrap">pre-approved</FONT> categories
or budget, it must be <FONT STYLE="white-space:nowrap">pre-approved</FONT> by the Audit Committee, or by a member that the committee has appointed to act on its behalf. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">All audit and permitted <FONT STYLE="white-space:nowrap">non-audit</FONT> services provided by Ernst&nbsp;&amp; Young LLP have been
<FONT STYLE="white-space:nowrap">pre-approved</FONT> by the Audit Committee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>External Auditor Service Fees </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The table below lists the services Ernst&nbsp;&amp; Young LLP provided to Manulife and its subsidiaries in the last two fiscal years and the fees they charged each
year. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">29 </P>

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<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD></TR>
<TR BGCOLOR="#00af41" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">Fees</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2018</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">($&nbsp;in&nbsp;millions)</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">2017</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#ffffff"><B><FONT COLOR="#ffffff">($&nbsp;in&nbsp;millions)</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"><B>Audit Fees:</B></TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">29.0</TD>
<TD ROWSPAN="2" NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">28.9</TD>
<TD ROWSPAN="2" NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">Includes the audit of our financial statements as well as the financial statements of our subsidiaries, segregated funds, audits of statutory
filings, prospectus services, report on internal controls, reviews of quarterly reports and regulatory filings.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"><B>Audit-Related Fees:</B></TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">2.7</TD>
<TD ROWSPAN="2" NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">2.7</TD>
<TD ROWSPAN="2" NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">Includes consultation concerning financial accounting and reporting standards not classified as audit, due diligence in connection with
proposed or consummated transactions and assurance services to report on internal controls for third parties.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"><B>Tax Fees:</B></TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">0.4</TD>
<TD ROWSPAN="2" NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">0.4</TD>
<TD ROWSPAN="2" NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">Includes tax compliance, tax planning and tax advice services.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"><B>All Other Fees:</B></TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">0.1</TD>
<TD ROWSPAN="2" NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD ROWSPAN="2" VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">0.3</TD>
<TD ROWSPAN="2" NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">Includes other advisory services.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><B>Total</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">32.2</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">32.3</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT COLOR="#00af41"><B>ADDITIONAL INFORMATION </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Additional information with respect to the Company, including directors&#146; and officers&#146; remuneration and indebtedness, and securities authorized for issuance
under MFC&#146;s equity compensation plans, where applicable, is contained in MFC&#146;s Management Information Circular for its most recent annual meeting of security holders that involved the election of directors. Additional financial information
is provided in our 2018 Consolidated Financial Statements and our 2018 MD&amp;A. Copies of these documents and additional information relating to the Company may be found on SEDAR and is accessible at the Company&#146;s website, www.manulife.com.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">30 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>Schedule 1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>Manulife Financial Corporation (the &#147;Company&#148;) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>Audit Committee Charter </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Overall Role and Responsibility </B></P></TD></TR></TABLE>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;margin-left:4%;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.1</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The Audit Committee (&#147;Committee&#148;) shall: </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">assist the Board of Directors in its oversight role with respect to: </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">the quality and integrity of financial information; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">the effectiveness of the Company&#146;s internal control over financial reporting; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">the effectiveness of the Company&#146;s risk management and compliance practices; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">the independent auditor&#146;s performance, qualifications and independence; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">the Company&#146;s compliance with legal and regulatory requirements; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vi)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">the Finance, Actuarial, Internal Audit and Global Compliance functions; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">conflicts of interest and confidential information; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(viii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">related party transactions; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ix)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">complaints of customers relating to obligations under the <I>Insurance Companies Act</I> (Canada) (the &#147;Act&#148;),
and accounting, internal accounting controls and audit matters. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">prepare such reports of the Committee required to be included in the Proxy Circular in accordance with applicable laws or
the rules of applicable securities regulatory authorities. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>1.2</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The Committee will also act as the conduct review committee of the Company. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Structure and Composition </B></P></TD></TR></TABLE>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;margin-left:4%;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.1</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The Committee shall consist of five or more Directors appointed by the Board of Directors on the recommendation of
the Corporate Governance and Nominating Committee. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.2</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>No member of the Committee shall be an officer or employee of the Company, its subsidiaries or affiliates. Members
of the Committee will not be affiliated with the Company as such term is defined in the Act. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.3</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>Each member of the Committee shall satisfy the applicable independence and experience requirements of the laws
governing the Company, the applicable stock exchanges on which the Company&#146;s securities are listed and applicable securities regulatory authorities. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.4</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The Board of Directors shall designate one member of the Committee as the Committee Chair. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.5</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>Members of the Committee shall serve at the pleasure of the Board of Directors for such term or terms as the Board
of Directors may determine. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.6</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>Each member of the Committee shall be financially literate as such qualification is defined by applicable law and
interpreted by the Board of Directors in its business judgment. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">31 </P>

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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.7</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The Board of Directors shall determine whether and how many members of the Committee qualify as a financial expert
as defined by applicable law. At least one member must be an audit committee financial expert, as defined in applicable laws and regulations. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.8</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The Committee shall annually determine whether any of its members serve on the audit committee of more than three
public companies (including the Committee). If any of the Committee members fall into this category, the Committee shall consider the ability of such members to effectively serve on the Committee and, if it is determined that such members are able
to continue serving, the Committee shall record the reasons for such a decision. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Structure, Operations and Assessment </B></P></TD></TR></TABLE>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;margin-left:4%;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.1</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The Committee shall meet quarterly or more frequently as the Committee may determine. The Committee shall report
to the Board of Directors on its activities after each of its meetings. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.2</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The affirmative vote of a majority of the members of the Committee participating in any meeting of the Committee
is necessary for the adoption of any resolution. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.3</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The Committee may create one or more subcommittees and may delegate, in its discretion, all or a portion of its
duties and responsibilities to such subcommittees. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.4</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The Committee shall, on an annual basis: </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">review and assess the adequacy of this Charter and, where necessary, recommend changes to the Board of Directors for its
approval; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">undertake a performance evaluation of the Committee comparing the performance of the Committee with the requirements of
this Charter; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">report the results of the performance evaluation to the Board of Directors. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:11pt; font-family:ARIAL">The performance evaluation by the Committee shall be conducted in such manner as the Committee deems appropriate. The report to the Board of Directors
may take the form of an oral report by the chair of the Committee or any other member of the Committee designated by the Committee to make this report. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.5</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B></B>The Committee is expected to establish and maintain free and open communication with management, the independent
auditor, the internal auditor and the Appointed Actuary and shall periodically meet separately with each of them. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Specific Duties </B></P></TD></TR></TABLE>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;margin-left:4%;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Committee will carry out the following
specific duties: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.1</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Oversight of the Independent Auditor </B></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Recommend to the Board for approval the appointment and, when considered appropriate, the dismissal or removal of the
independent auditor for the purpose of preparing or issuing an auditor&#146;s report or performing other audit, review or attest services for the Company (subject to shareholder ratification). </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and approve the scope and terms of all audit engagements and recommend to the Board the compensation of the
independent auditor. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Oversee the work of the independent auditor engaged for the purpose of preparing or issuing an audit
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">32 </P>

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<TD WIDTH="9%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
report or performing other audit, review or attest services (including resolution of disagreements between management and the independent auditor regarding financial reporting). The independent
auditor shall report directly to the Committee. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-approve</FONT> all audit services and permitted
<FONT STYLE="white-space:nowrap">non-audit</FONT> services (including the fees, terms and conditions for the performance of such services) to be provided by the independent auditor. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">When appropriate, the Committee may delegate to one or more members the authority to grant preapprovals of audit and
permitted <FONT STYLE="white-space:nowrap">non-audit</FONT> services and the full Committee shall be informed of each <FONT STYLE="white-space:nowrap">non-audit</FONT> service. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review the decisions of such delegates under subsection (e)&nbsp;above, which shall be presented to the full Committee at
its next scheduled meeting. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Evaluate the qualifications, performance and independence of the independent auditor, including: </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">reviewing and evaluating the lead partner on the independent auditor&#146;s engagement with the Company;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">considering whether the auditor&#146;s quality controls are adequate and the provision of permitted <FONT
STYLE="white-space:nowrap">non-audit</FONT> services are compatible with maintaining the auditor&#146;s independence; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">addressing any concerns raised by regulatory authorities or other stakeholders regarding the auditor&#146;s independence.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(h)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Present its conclusions with respect to the independent auditor to the Board of Directors and, if so determined by the
Committee, recommend that the Board of Directors take additional action to satisfy itself of the qualifications, performance and independence of the independent auditor. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Obtain and review a report from the independent auditor at least annually regarding: </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">the independent auditor&#146;s internal quality-control procedures; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">any material issues raised by the most recent internal quality-control review, or peer review, of the firm, or by any
inquiry or investigation by governmental or professional authorities within the preceding five years respecting one or more independent audits carried out by the firm; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">any steps taken to deal with any such issues; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">all relationships between the independent auditor and the Company. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(j)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review and approve the audit plan (including any significant changes to the audit plan) and, as part
of this review, satisfy itself that the audit plan is risk-based and addresses all the relevant activities over a measurable cycle and that the work of the independent auditor and Internal Audit is coordinated. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(k)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Ensure the rotation of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit
partner responsible for reviewing the audit as required by law. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(l)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and approve policies for the Company&#146;s hiring of partners and employees or former partners and employees of
the independent auditor. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">33 </P>

</DIV></Center>


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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.2</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Financial Reporting </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and discuss with management and the independent auditor the annual audited financial statements, the results of
the audit, any changes to the audit scope or strategy, the annual report of the auditors on the statements and any other returns or transactions required to be reviewed by the Committee and report to the Board of Directors prior to approval by the
Board of Directors and the publication of earnings. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review such returns of the Company as the Superintendent of Financial Institutions (Canada) (the
&#147;Superintendent&#148;) may specify. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and discuss with the independent auditor and with management the Company&#146;s annual and quarterly financial
disclosures, including management&#146;s discussion and analysis. The Committee shall approve any reports for inclusion in the Company&#146;s Annual Report, as required by applicable legislation and make a recommendation thereon to the Board.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review the Company&#146;s disclosure policy, which governs the release of information about the Company and requires
timely, accurate and fair disclosure of such information in compliance with all legal and regulatory requirements, and periodically assess the adequacy of procedures regarding disclosure of financial information. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Require management to implement and maintain appropriate internal control procedures. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Oversee systems of internal control and meet with the heads of the oversight functions, management and the independent
auditors to assess the adequacy and effectiveness of these systems and to obtain reasonable assurance that the controls are effective. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and discuss with management and the independent auditor management&#146;s report on its assessment of internal
controls over financial reporting and the independent auditor&#146;s attestation report on management&#146;s assessment. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(h)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review, evaluate and approve the procedures established under s. 4.2(e). </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review such investments and transactions that could adversely affect the well-being of the Company as the auditor or any
officer of the Company may bring to the attention of the Committee. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(j)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and discuss with management and the independent auditor the Company&#146;s quarterly financial statements prior to
the publication of earnings, including: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">the results of the independent auditor&#146;s review of the quarterly financial statements; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">any matters required to be communicated by the independent auditor under applicable review standards.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(k)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and discuss with management and the independent auditor at least annually significant financial reporting issues
and judgments made in connection with the preparation of the Company&#146;s financial statements, including: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">key areas of risk for material misstatement of the financial statements, including critical accounting estimates or areas
of measurement uncertainty; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">whether the auditor considers estimates to be within an acceptable range and the rationale for the final valuation
decision and whether it is consistent with industry practice; </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">34 </P>

</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">any significant changes in the Company&#146;s selection or application of accounting or actuarial principles;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">any major issues as to the adequacy of the Company&#146;s internal controls; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">any special steps adopted in light of material control deficiencies, if any; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vi)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">the role of any other audit firms. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(l)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and discuss with management and the independent auditor at least annually reports from the independent auditor on:
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">critical accounting policies and practices to be used; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">significant financial reporting issues, estimates and judgments made in connection with the preparation of the financial
statements; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">alternative treatments of financial information within generally accepted accounting principles that have been discussed
with management, ramifications of the use of such alternative disclosures and treatments, and the treatment preferred by the independent auditor; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">other material written communications between the independent auditor and management, such as any management letter or
schedule of unadjusted differences. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(m)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Meet with the independent auditor to discuss the annual financial statements and any investments or transactions that may
adversely affect the well-being of the Company. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(n)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Discuss with the independent auditor at least annually any &#147;management&#148; or &#147;internal control&#148; letters
issued or proposed to be issued by the independent auditor to the Company and review all material correspondence between the independent auditor and management related to audit findings. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(o)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and discuss with management and the independent auditor at least annually any significant changes to the
Company&#146;s accounting and actuarial principles and practices suggested by the independent auditor, internal audit personnel or management and assess whether the Company&#146;s accounting and actuarial practices are appropriate and within the
boundaries of acceptable practice. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(p)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Discuss with management and approve the Company&#146;s earnings press releases, the release of earnings projections,
forecast or guidance and the use of <FONT STYLE="white-space:nowrap">non-GAAP</FONT> financial measures (if any), and the financial information provided to analysts and rating agencies. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(q)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and discuss with management and the independent auditor at least annually the effect of regulatory and accounting
initiatives as well as <FONT STYLE="white-space:nowrap">off-balance-sheet</FONT> structures on the Company&#146;s financial statements. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(r)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Discuss with the independent auditor matters required to be discussed by American Institute of Certified Public
Accountants Statement on Auditing Standards No.&nbsp;61 relating to the conduct of the audit, including any difficulties encountered in the course of the audit work, any restrictions on the scope of activities or access to requested information and
any significant disagreements with management. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(s)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and discuss with the Chief Executive Officer and the Chief Financial Officer the procedures undertaken in
connection with the Chief Executive Officer and Chief Financial Officer certifications for the annual and interim filings with applicable securities regulatory authorities. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(t)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review disclosures made by the Company&#146;s Chief Executive Officer and Chief Financial Officer during
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">35 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
their certification process for the annual and interim filing with applicable securities regulatory authorities about any significant deficiencies in the design or operation of internal controls
which could adversely affect the Company&#146;s ability to record, process, summarize and report financial data or any material weaknesses in the internal controls, and any fraud involving management or other employees who have a significant role in
the Company&#146;s internal controls. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(u)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Meet with the Appointed Actuary of the Company at least annually to receive and review reports, opinions and
recommendations prepared by the Appointed Actuary in accordance with the Act, including the parts of the annual financial statement and the annual return filed under s. 665 of the Act, prepared by the actuary, and such other matters as the Committee
may direct, including the report on Dynamic Capital Adequacy Testing, which is also reviewed by the Risk Committee. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Receive reports from the Chief Actuary regarding material capital model modifications and new capital model applications.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(w)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Discuss with the Company&#146;s General Counsel at least annually any legal matters that may have a material impact on
the financial statements, operations, assets or compliance policies and any material reports or inquiries received by the Company<B> </B>or any of its subsidiaries from regulators or governmental agencies. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(x)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Meet with the Chief Internal Auditor and with management to discuss the effectiveness of the internal control procedure
established pursuant to s. 4.2(e). </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.3</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Oversight of the Finance Function </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually review and approve the mandate of the Chief Financial Officer and the Finance function.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review and approve the budget, structure, skills and resources of the Finance function.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review the performance evaluation of the Chief Financial Officer, with the input of the Management
Resources and Compensation Committee, and assess the effectiveness of the Chief Financial Officer and the Finance function. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Recommend to the Board for approval the appointment and, when considered appropriate, the dismissal of the Chief
Financial Officer, who shall have direct access to the Committee. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review the results of periodic independent reviews of the Finance function. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.4</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Oversight of the Actuarial Function </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review and approve the mandate for the Chief Actuary and the Actuarial function.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review and approve the budget, structure, skills and resources of the Actuarial function.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review the performance evaluation of the Chief Actuary, with the input of the Management Resources and
Compensation Committee, and assess the effectiveness of the Chief Actuary and the Actuarial function. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Recommend to the Board for approval the appointment and, when considered appropriate, the dismissal of the Chief Actuary,
who shall have direct access to the Committee. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review the results of periodic independent reviews of the Actuarial function. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">36 </P>

</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.5</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Oversight of the Internal Audit Function </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review and approve the mandate of the Chief Auditor and the Internal Audit function.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review and approve the budget, structure, skills, resources, independence and qualifications of the
Internal Audit function. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review and approve the audit plan of the Internal Audit function (including any significant changes to
the audit plan) and, as part of this review, satisfy itself that the audit plan is risk-based and addresses all the relevant activities over a measurable cycle and that the work of the independent auditor and Internal Audit is coordinated.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review the periodic reports of the internal audit department on internal audit activities, including audit findings,
recommendations<B> </B>and progress in meeting the annual audit plan (including the impact of any resource limitations). </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review the performance evaluation and compensation of the Chief Auditor, with the input of the
Management Resources and Compensation Committee, and assess the effectiveness of the Chief Auditor and the Internal Audit function. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Recommend to the Board for approval the appointment and, when considered appropriate, the dismissal of the Chief Auditor,
who shall have direct access to the Committee. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review the results of periodic independent reviews and self-assessments of the Internal Audit function&#146;s conformance
with the International Standards for the Professional Practice of Internal Auditing and Code of Ethics, and action plans to address any significant conformance issues. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.6</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Risk Management Oversight </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review reports from the Risk Committee respecting the Company&#146;s processes for assessing and managing risk.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">The Committee will receive reports from the General Counsel as Chair of the Disclosure Committee. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.7</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Oversight of Regulatory Compliance and Complaint Handling </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Establish procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting,
internal accounting controls or auditing matters, and the confidential, anonymous submission by employees of concerns regarding questionable accounting or auditing matters. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Discuss with management and the independent auditor at least annually any correspondence with regulators or governmental
agencies and any published reports which raise material issues regarding the Company&#146;s financial statements or accounting. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review at least annually with the Global Compliance Chief the Company&#146;s compliance with applicable laws and
regulations, and correspondence from regulators. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.8</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Oversight of the Global Compliance Function </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review and approve the mandate for the Global Compliance Chief and the Global Compliance function.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review and approve the budget, structure, skills and resources of the Global Compliance function.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">37 </P>

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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">At least annually, review the performance evaluation of the Global Compliance Chief, with the input of the Management
Resources and Compensation Committee, and assess the effectiveness of the Global Compliance Chief and the Global Compliance function. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Recommend to the Board for approval, the appointment and, when considered appropriate, the dismissal of the Global
Compliance Chief, who shall have direct access to the Committee. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review the results of periodic independent reviews of the Global Compliance function. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.9</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Oversight of the Anti-Money Laundering and Anti-Terrorist Financing Program </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">The Committee shall review the Company&#146;s Anti-Money Laundering and Anti-Terrorist Financing Policy.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">The Committee shall meet with the Chief Anti-Money Laundering Officer as necessary to review the AML/ATF Program.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">The Committee shall meet with the Chief Auditor as necessary to review results of testing of the effectiveness of the
AML/ATF Program. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.10</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Review of Ethical Standards </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Annual review of the Company&#146;s Code of Business Conduct and Ethics. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Establish procedures to receive and process any request from executive officer(s) and Director(s) for waiver of the
Company&#146;s Code of Business Conduct and Ethics. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Grant any waiver of the Company&#146;s Code of Business Conduct and Ethics to executive officer(s) and Director(s) as the
Committee may in its sole discretion deem appropriate and arrange for any such waiver to be promptly disclosed to the shareholders in accordance with applicable laws or the rules of applicable securities regulatory authorities.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Annual review and assessment of procedures established by the Board of Directors to resolve conflicts of interest,
including techniques for identification of potential conflict situations. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and assessment of procedures established by the Board of Directors for restricting the use of confidential
information. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.11</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Self Dealing and Disclosure Requirements </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Require management to establish procedures for complying with Part XI (Self-Dealing) of the Act (the &#147;Related Party
Procedures&#148;). </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Establish criteria for the determination of materiality of a transaction with a related party. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Annual review of the Related Party Procedures and their effectiveness in ensuring that the Company is complying with Part
XI of the Act and the Sarbanes-Oxley Act. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review the practices of the Company to ensure that any transactions with related parties of the Company that may have a
material effect on the stability or solvency of the Company are identified. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Ensure that, within 90 days after the end of each financial year of the Company, the Committee will report to the
Superintendent on its activities of the previous year respecting conduct review, </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">38 </P>

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<TD WIDTH="9%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
undertaken in carrying out its responsibilities under the Act (and, in particular, in respect of (a), (c), and (d)&nbsp;above). </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">The Committee shall report to the Superintendent on its mandate respecting conduct review and responsibilities of the
Committee and the procedures referred to in (a)&nbsp;above. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Review and assessment of the procedures established by the Board of Directors to disclose information to customers of the
Company under the Act, if applicable, and of the procedures for dealing with complaints of customers of the Company to satisfy itself that the applicable procedures are being followed. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.12</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Proxy Circular </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">The Committee shall prepare a report on its activities on an annual basis to be included in the Proxy Circular, as may be
required by applicable laws or rules of applicable securities regulatory authorities. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.13</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Duties and Responsibilities Delegated by the Board </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left">Exercise such other powers and perform such other duties and responsibilities as are incidental to the purposes, duties
and responsibilities specified herein and as may from time to time be delegated to the Committee by the Board of Directors. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="left"><B>Funding for the Independent Auditor and Retention of External Advisors </B></P></TD></TR></TABLE>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;margin-left:4%;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The Company shall provide for appropriate
funding, as determined by the Committee, for payment of compensation to the independent auditor for the purpose of issuing an audit report and to any advisors retained by the Committee. The Committee shall have the authority to retain such external
advisors as it may from time to time deem necessary or advisable for its purposes and to set the terms of the retainer. The expenses related to any such engagement shall also be funded by the Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">39 </P>

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<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>d661375dex994.htm
<DESCRIPTION>EX-99.4
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.4 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Certification of Annual Filings </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Manulife Financial Corporation </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I, Roy Gori,
certify that: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">I have reviewed this annual report on Form <FONT STYLE="white-space:nowrap">40-F</FONT> of Manulife Financial
Corporation; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this report; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The issuer&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules <FONT STYLE="white-space:nowrap">13a-15(e)</FONT> and <FONT STYLE="white-space:nowrap">15d-15(e))</FONT><I> </I>and internal control over financial reporting (as defined in Exchange Act Rules
<FONT STYLE="white-space:nowrap">13a-15(f)</FONT> and <FONT STYLE="white-space:nowrap">15d-15(f))</FONT> for the issuer and have: </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being
prepared; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Evaluated the effectiveness of the issuer&#146;s disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Disclosed in this report any change in the issuer&#146;s internal control over financial reporting that
occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the issuer&#146;s internal control over financial reporting; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The issuer&#146;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of
internal control over financial reporting, to the issuer&#146;s auditors and the audit committee of the issuer&#146;s board of directors (or persons performing the equivalent functions): </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the issuer&#146;s ability to record, process, summarize and report financial information; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Any fraud, whether or not material, that involves management or other employees who have a significant role in
the issuer&#146;s internal control over financial reporting. </P></TD></TR></TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: February&nbsp;13, 2019</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><I>/s/ Roy Gori</I></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Roy Gori</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">President and Chief Executive Officer</TD></TR>
</TABLE>
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<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>d661375dex995.htm
<DESCRIPTION>EX-99.5
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.5 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Certification of Annual Filings </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Manulife Financial Corporation </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I, Philip J.
Witherington, certify that: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">I have reviewed this annual report on Form <FONT STYLE="white-space:nowrap">40-F</FONT> of Manulife Financial
Corporation; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this report; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The issuer&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules <FONT STYLE="white-space:nowrap">13a-15(e)</FONT> and <FONT STYLE="white-space:nowrap">15d-15(e))</FONT><I> </I>and internal control over financial reporting (as defined in Exchange Act Rules
<FONT STYLE="white-space:nowrap">13a-15(f)</FONT> and <FONT STYLE="white-space:nowrap">15d-15(f))</FONT> for the issuer and have: </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being
prepared; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Evaluated the effectiveness of the issuer&#146;s disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Disclosed in this report any change in the issuer&#146;s internal control over financial reporting that
occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the issuer&#146;s internal control over financial reporting; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The issuer&#146;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of
internal control over financial reporting, to the issuer&#146;s auditors and the audit committee of the issuer&#146;s board of directors (or persons performing the equivalent functions): </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the issuer&#146;s ability to record, process, summarize and report financial information; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Any fraud, whether or not material, that involves management or other employees who have a significant role in
the issuer&#146;s internal control over financial reporting. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: February&nbsp;13, 2019</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><I>/s/ Philip J. Witherington</I></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Philip J. Witherington</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Chief Financial Officer</TD></TR>
</TABLE>
</DIV></Center>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.6
<SEQUENCE>7
<FILENAME>d661375dex996.htm
<DESCRIPTION>EX-99.6
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.6</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.6 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CERTIFICATION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Pursuant to
18 United States Code s. 1350 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">As adopted pursuant to </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Section&nbsp;906 of the Sarbanes&#150;Oxley Act of 2002 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the Annual Report on Form <FONT STYLE="white-space:nowrap">40-F</FONT> of Manulife Financial Corporation (the &#147;Company&#148;) for the
year ended December&nbsp;31, 2018, as filed with the Securities and Exchange Commission on the date hereof (the &#147;Report&#148;), the undersigned officer of the Company certifies pursuant to 18 U.S.C. Section&nbsp;1350, as adopted pursuant to
Section&nbsp;906 of the Sarbanes-Oxley Act of 2002, that to his knowledge: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of
1934, as amended; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The information contained in the Report fairly presents, in all material respects, the financial condition and
results of operations of the Company. </P></TD></TR></TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Date: February 13, 2019</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman"><I>/s/ Roy Gori</I></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Roy Gori</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">President and Chief Executive Officer</TD></TR>
</TABLE>
</DIV></Center>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.7
<SEQUENCE>8
<FILENAME>d661375dex997.htm
<DESCRIPTION>EX-99.7
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.7</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.7 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CERTIFICATION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Pursuant to
18 United States Code s. 1350 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">As adopted pursuant to </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Section&nbsp;906 of the Sarbanes&#150;Oxley Act of 2002 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the Annual Report on Form <FONT STYLE="white-space:nowrap">40-F</FONT> of Manulife Financial Corporation (the &#147;Company&#148;) for the
year ended December 31, 2018, as filed with the Securities and Exchange Commission on the date hereof (the &#147;Report&#148;), the undersigned officer of the Company certifies pursuant to 18 U.S.C. Section&nbsp;1350, as adopted pursuant to
Section&nbsp;906 of the Sarbanes-Oxley Act of 2002, that to his knowledge: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of
1934, as amended; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The information contained in the Report fairly presents, in all material respects, the financial condition and
results of operations of the Company. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Date: February 13, 2019</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman"><I>/s/ Philip J. Witherington</I></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Philip J. Witherington</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Chief Financial Officer</TD></TR>
</TABLE>
</DIV></Center>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.8
<SEQUENCE>9
<FILENAME>d661375dex998.htm
<DESCRIPTION>EX-99.8
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.8</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.8 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We consent to the reference to our firm under the caption &#147;Experts&#148; and to the use of our reports dated February&nbsp;13, 2019, with respect to the
consolidated financial statements of Manulife Financial Corporation (the &#147;Company&#148;), and the effectiveness of internal control over financial reporting of the Company, included in the 2018 Annual Report (Form
<FONT STYLE="white-space:nowrap">40-F)</FONT> for the year ended December&nbsp;31, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We also consent to the incorporation by reference and to the use
of these reports dated February&nbsp;13, 2019 in the following Registration Statements: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement (Form <FONT STYLE="white-space:nowrap">S-8</FONT>
<FONT STYLE="white-space:nowrap">No.&nbsp;333-12610)</FONT> of Manulife Financial Corporation pertaining to the Manulife Financial Corporation Stock Plan for <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors and Executive Stock Option
Plan; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement (Form <FONT STYLE="white-space:nowrap">S-8</FONT>
<FONT STYLE="white-space:nowrap">No.&nbsp;333-13072)</FONT> of Manulife Financial Corporation pertaining to the Manulife Financial Corporation Global Share Ownership Plan; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement (Form <FONT STYLE="white-space:nowrap">S-8</FONT>
<FONT STYLE="white-space:nowrap">No.&nbsp;333-157326)</FONT> of Manulife Financial Corporation pertaining to the Stock Plan for <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors, Executive Stock Option Plan and Global Share Ownership
Plan; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement (Form <FONT STYLE="white-space:nowrap">S-8</FONT>
<FONT STYLE="white-space:nowrap">No.&nbsp;333-114951)</FONT> of Manulife Financial Corporation pertaining to the John Hancock Financial Services, Inc. 1999 Long-Term Stock Incentive Plan, as amended and the John Hancock Financial Services, Inc. <FONT
STYLE="white-space:nowrap">Non-Employee</FONT> Directors&#146; Long-Term Stock Incentive Plan; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement (Form <FONT STYLE="white-space:nowrap">S-8</FONT>
<FONT STYLE="white-space:nowrap">No.&nbsp;333-129430)</FONT> of Manulife Financial Corporation pertaining to the Deferred Compensation Plan for Certain Employees of John Hancock and the Deferred Compensation Plan of the John Hancock Financial
Network; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement (Form <FONT STYLE="white-space:nowrap">S-8</FONT>
<FONT STYLE="white-space:nowrap">No.&nbsp;333-211366)</FONT> of Manulife Financial Corporation pertaining to the Deferred Compensation Plan for Certain Employees of John Hancock and the Deferred Compensation Plan for the John Hancock Financial
Network; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement (Form <FONT STYLE="white-space:nowrap">F-10</FONT>
<FONT STYLE="white-space:nowrap">No.&nbsp;333-221951)</FONT> of Manulife Financial Corporation pertaining to Manulife Financial Corporation&#146;s shelf prospectus offering Debt Securities, Preferred Shares, Common Shares, Subscription Receipts,
Warrants, Share Purchase Contracts and Units; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement (Form <FONT STYLE="white-space:nowrap">F-3</FONT> Nos. <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">333-221821-01</FONT></FONT> and <FONT STYLE="white-space:nowrap">333-221821)</FONT> of Manulife Financial Corporation and John Hancock Life Insurance Company (U.S.A.) pertaining to deferred annuity contracts with market
value adjustment interests and Manulife Financial Corporation&#146;s subordinated guarantee relating thereto; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement (Form <FONT STYLE="white-space:nowrap">F-3</FONT> Nos. <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">333-208663-01</FONT></FONT> and <FONT STYLE="white-space:nowrap">333-208663)</FONT> of Manulife Financial Corporation and John Hancock Life Insurance Company (U.S.A.) pertaining to John Hancock Life Insurance Company
(U.S.A.)&#146;s market value adjustment interests under deferred annuity contracts and Manulife Financial Corporation&#146;s subordinated guarantee relating thereto; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement (Form <FONT STYLE="white-space:nowrap">F-3</FONT>
<FONT STYLE="white-space:nowrap">No.&nbsp;333-159176)</FONT> of Manulife Financial Corporation pertaining to the Manulife Financial Corporation Dividend Reinvestment and Share Purchase Plan for U.S. Shareholders. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="47%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
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<TD WIDTH="47%"></TD></TR>


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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><I>/s/ &#147;Ernst&nbsp;&amp; Young LLP&#148;</I></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Toronto, Canada</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Chartered Professional Accountants</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">February&nbsp;13, 2019</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Licensed Public Accountants</TD></TR>
</TABLE>
</DIV></Center>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.9
<SEQUENCE>10
<FILENAME>d661375dex999.htm
<DESCRIPTION>EX-99.9
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.9</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.9 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONSENT OF APPOINTED ACTUARY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">I hereby consent to the use and incorporation by reference in this Annual Report on <FONT STYLE="white-space:nowrap">Form&nbsp;40-F</FONT> of
Manulife Financial Corporation (the &#147;Company&#148;) for the year ended December&nbsp;31, 2018 of my Appointed Actuary&#146;s Report to the Shareholders and Directors dated February&nbsp;13, 2019 (the &#147;Report&#148;), relating to the
valuation of the policy liabilities of the Company for its Consolidated Balance Sheets as at December&nbsp;31, 2018 and 2017 and their change in the Consolidated Statements of Operations for the years then ended. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><I>/s/ Steven A. Finch</I></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Steven A. Finch</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chief Actuary</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fellow, Canadian Institute of Actuaries</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Toronto,
Canada</P></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: February&nbsp;13, 2019 </P>
</DIV></Center>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>11
<FILENAME>mfc-20181231.xml
<DESCRIPTION>XBRL INSTANCE DOCUMENT
<TEXT>
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  <mfc:DefinedBenefitPlanTargetAssetAllocationPercentage contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3416962x3480428_3417563x3480173_3417644x3480156" decimals="2" id="id_14036987_53884A24-CA74-4760-9052-562ACA9C9040_2002_6" unitRef="pure">0.06</mfc:DefinedBenefitPlanTargetAssetAllocationPercentage>
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  <mfc:DefinedBenefitPlanTargetAssetAllocationPercentage contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3416962x3532588_3417563x3480173_3417644x3480156" decimals="2" id="id_14036987_53884A24-CA74-4760-9052-562ACA9C9040_3002_9" unitRef="pure">0.01</mfc:DefinedBenefitPlanTargetAssetAllocationPercentage>
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  <mfc:DefinedBenefitPlanTargetAssetAllocationPercentage contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417430x3417742_3417563x3422589_3417644x3480156" decimals="2" id="id_14036987_53884A24-CA74-4760-9052-562ACA9C9040_4001_8" unitRef="pure">0.67</mfc:DefinedBenefitPlanTargetAssetAllocationPercentage>
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  <mfc:DefinedBenefitPlanTargetAssetAllocationPercentage contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417430x3417742_3417563x3480173_3417644x3480156" decimals="2" id="id_14036987_53884A24-CA74-4760-9052-562ACA9C9040_4002_8" unitRef="pure">0.85</mfc:DefinedBenefitPlanTargetAssetAllocationPercentage>
  <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3422589" decimals="-6" id="id_14036987_F555DF10-AFAA-40BE-B52B-945A7985C8F0_2_2" unitRef="iso4217_CAD">3026000000</ifrs-full:DefinedBenefitObligationAtPresentValue>
  <ifrs-full:OtherAssetsAmountContributedToFairValueOfPlanAssets contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3422589_3417644x3480156" decimals="-6" id="id_14036987_F50CB2B7-D5CB-4F58-85A7-B3AF14F77CD0_4001_9" unitRef="iso4217_CAD">235000000</ifrs-full:OtherAssetsAmountContributedToFairValueOfPlanAssets>
  <ifrs-full:PlanAssetsAtFairValue contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3422589_3417644x3480156" decimals="-6" id="id_14036987_F50CB2B7-D5CB-4F58-85A7-B3AF14F77CD0_4001_10" unitRef="iso4217_CAD">2942000000</ifrs-full:PlanAssetsAtFairValue>
  <mfc:DefinedBenefitPlanTargetAssetAllocationPercentage contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3422589_3417644x3480156" decimals="INF" id="id_14036987_53884A24-CA74-4760-9052-562ACA9C9040_5001_10" unitRef="pure">1.00</mfc:DefinedBenefitPlanTargetAssetAllocationPercentage>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3422589_3421612x3480150" decimals="3" id="id_14036987_5BA29F0A-DDC3-4702-93A6-D9A92525F444_1002_1" unitRef="pure">0.036</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3422589_3421612x3480151" decimals="3" id="id_14036987_5BA29F0A-DDC3-4702-93A6-D9A92525F444_2002_3" unitRef="pure">0.041</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3422589_3421612x3480175" decimals="-6" id="id_14036987_F555DF10-AFAA-40BE-B52B-945A7985C8F0_1002_1" unitRef="iso4217_CAD">2434000000</ifrs-full:DefinedBenefitObligationAtPresentValue>
  <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3422589_3421612x3480187" decimals="-6" id="id_14036987_F555DF10-AFAA-40BE-B52B-945A7985C8F0_2002_0" unitRef="iso4217_CAD">592000000</ifrs-full:DefinedBenefitObligationAtPresentValue>
  <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3480173" decimals="-6" id="id_14036987_F555DF10-AFAA-40BE-B52B-945A7985C8F0_4_2" unitRef="iso4217_CAD">515000000</ifrs-full:DefinedBenefitObligationAtPresentValue>
  <ifrs-full:OtherAssetsAmountContributedToFairValueOfPlanAssets contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3480173_3417644x3480156" decimals="-6" id="id_14036987_F50CB2B7-D5CB-4F58-85A7-B3AF14F77CD0_4002_9" unitRef="iso4217_CAD">7000000</ifrs-full:OtherAssetsAmountContributedToFairValueOfPlanAssets>
  <ifrs-full:PlanAssetsAtFairValue contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3480173_3417644x3480156" decimals="-6" id="id_14036987_F50CB2B7-D5CB-4F58-85A7-B3AF14F77CD0_4002_10" unitRef="iso4217_CAD">587000000</ifrs-full:PlanAssetsAtFairValue>
  <mfc:DefinedBenefitPlanTargetAssetAllocationPercentage contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3480173_3417644x3480156" decimals="INF" id="id_14036987_53884A24-CA74-4760-9052-562ACA9C9040_5002_10" unitRef="pure">1.00</mfc:DefinedBenefitPlanTargetAssetAllocationPercentage>
  <ifrs-full:ActuarialAssumptionOfMedicalCostTrendRates contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3480173_3421612x3480150" decimals="3" id="id_14036987_5BA29F0A-DDC3-4702-93A6-D9A92525F444_1004_2" unitRef="pure">0.085</ifrs-full:ActuarialAssumptionOfMedicalCostTrendRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3480173_3421612x3480150" decimals="3" id="id_14036987_5BA29F0A-DDC3-4702-93A6-D9A92525F444_1004_1" unitRef="pure">0.036</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfMedicalCostTrendRates contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3480173_3421612x3480151" decimals="3" id="id_14036987_5BA29F0A-DDC3-4702-93A6-D9A92525F444_2004_4" unitRef="pure">0.088</ifrs-full:ActuarialAssumptionOfMedicalCostTrendRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3480173_3421612x3480151" decimals="3" id="id_14036987_5BA29F0A-DDC3-4702-93A6-D9A92525F444_2004_3" unitRef="pure">0.041</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3480173_3421612x3480175" decimals="-6" id="id_14036987_F555DF10-AFAA-40BE-B52B-945A7985C8F0_1004_1" unitRef="iso4217_CAD">481000000</ifrs-full:DefinedBenefitObligationAtPresentValue>
  <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480177_3417563x3480173_3421612x3480187" decimals="-6" id="id_14036987_F555DF10-AFAA-40BE-B52B-945A7985C8F0_2004_0" unitRef="iso4217_CAD">34000000</ifrs-full:DefinedBenefitObligationAtPresentValue>
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  <ifrs-full:EquityInstrumentsAmountContributedToFairValueOfPlanAssets contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480178_3416962x3476597_3417563x3422589_3417644x3480156" decimals="-6" id="id_14036987_F50CB2B7-D5CB-4F58-85A7-B3AF14F77CD0_1003_7" unitRef="iso4217_CAD">212000000</ifrs-full:EquityInstrumentsAmountContributedToFairValueOfPlanAssets>
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  <mfc:DefinedBenefitPlanTargetAssetAllocationPercentage contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480178_3416962x3532588_3417563x3422589_3417644x3480156" decimals="2" id="id_14036987_53884A24-CA74-4760-9052-562ACA9C9040_3003_9" unitRef="pure">0.00</mfc:DefinedBenefitPlanTargetAssetAllocationPercentage>
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  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480178_3417563x3422589_3421612x3480151" decimals="3" id="id_14036987_5BA29F0A-DDC3-4702-93A6-D9A92525F444_2006_3" unitRef="pure">0.039</ifrs-full:ActuarialAssumptionOfDiscountRates>
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  <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="eol_PE98036---1840-F0007_STD_0_20171231_0_3416764x3480178_3417563x3422589_3421612x3480187" decimals="-6" id="id_14036987_F555DF10-AFAA-40BE-B52B-945A7985C8F0_2006_0" unitRef="iso4217_CAD">393000000</ifrs-full:DefinedBenefitObligationAtPresentValue>
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 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Impaired loans&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="71%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
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 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Gross&lt;br /&gt;
 carrying&lt;br /&gt;
 value&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Allowances&amp;#xA0;for&lt;br /&gt;
 loan&amp;#xA0;losses&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Net&amp;#xA0;carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;61&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;43&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages and loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;172&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;52&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;120&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;233&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;95&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;138&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gross&lt;br /&gt;
 carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Allowances for&lt;br /&gt;
 loan losses&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Net carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;79&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages and loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;132&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;86&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;211&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;85&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;126&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:AnalysisOfFinancialAssetsThatAreIndividuallyDeterminedToBeImpaired>
  <ifrs-full:BasicEarningsLossPerShare contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="2" id="id_14036987_B582EE6A-B627-4D02-A3E8-19B6D69DE22D_1_36" unitRef="iso4217_CAD_per_shares">2.34</ifrs-full:BasicEarningsLossPerShare>
  <ifrs-full:CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_27" unitRef="iso4217_CAD">1490000000</ifrs-full:CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings>
  <ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_20" unitRef="iso4217_CAD">-19002000000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
  <ifrs-full:CashFlowsFromUsedInOperations contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_12" unitRef="iso4217_CAD">19504000000</ifrs-full:CashFlowsFromUsedInOperations>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_34C0E35B-8DC1-426D-8C2E-475868CB1C12_1001_2" unitRef="iso4217_CAD">80000000</ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill>
  <ifrs-full:AdditionsLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_FCEC2AAE-E63F-4E5F-863D-1D6D5AAB1B8B_7005_2" unitRef="iso4217_CAD">3657000000</ifrs-full:AdditionsLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued>
  <ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_1C98D7DB-B02B-4204-97CA-359EF7A0D712_1_2" unitRef="iso4217_CAD">29000000</ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod>
  <dei:AmendmentFlag contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_AABBE2BC-580A-445C-A7AB-04691349FE78_1_1">false</dei:AmendmentFlag>
  <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_33" unitRef="iso4217_CAD">-724000000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
  <ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_14" unitRef="iso4217_CAD">19188000000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
  <ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_19" unitRef="iso4217_CAD">-187000000</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
  <ifrs-full:AdjustmentsForSharebasedPayments contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_11" unitRef="iso4217_CAD">10000000</ifrs-full:AdjustmentsForSharebasedPayments>
  <ifrs-full:AverageEffectiveTaxRate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="4" id="id_14036987_65EF7E07-39BA-45EB-86FC-F82401520EBC_1_0" unitRef="pure">0.2675</ifrs-full:AverageEffectiveTaxRate>
  <ifrs-full:ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_B582EE6A-B627-4D02-A3E8-19B6D69DE22D_1_17" unitRef="iso4217_CAD">15934000000</ifrs-full:ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries>
  <ifrs-full:AdditionalRecognitionGoodwill contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_EE3BDE18-A88D-409B-9015-49B09A72C4E4_1001_2" unitRef="iso4217_CAD">-65000000</ifrs-full:AdditionalRecognitionGoodwill>
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  <ifrs-full:AdjustmentsForDeferredTaxExpense contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_9" unitRef="iso4217_CAD">930000000</ifrs-full:AdjustmentsForDeferredTaxExpense>
  <ifrs-full:AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_73D37BA6-9D6C-4281-A3AF-7F1219DE0D8D_2_500002" unitRef="iso4217_CAD">196000000</ifrs-full:AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities>
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  <ifrs-full:BorrowingsInterestRateBasis contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_5C1CBBA9-B08C-42BF-B825-D72DF3EFD90E_1_1">5-year Singapore Dollar Swap Rate plus a specified number of basis points</ifrs-full:BorrowingsInterestRateBasis>
  <ifrs-full:ComprehensiveIncome contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_2538024E-044E-4651-9F70-AD442C99567B_1_19" unitRef="iso4217_CAD">7010000000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_2538024E-044E-4651-9F70-AD442C99567B_1_21" unitRef="iso4217_CAD">-212000000</ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests>
  <dei:CurrentFiscalYearEndDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E515106C-50D5-4909-A331-CDCBF685879C_1_3">--12-31</dei:CurrentFiscalYearEndDate>
  <ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_B78DCC4A-3652-4132-B682-6054113D2734_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Fair value measurement&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Fair value is defined as the price that would be received to sell
 an asset or paid to transfer a liability in an orderly transaction
 (not a forced liquidation or distress sale) between market
 participants at the measurement date, that is, an exit value.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 When available, quoted market prices are used to determine fair
 value. If quoted market prices are not available, fair value is
 typically based upon alternative valuation techniques such as
 discounted cash flows, matrix pricing, consensus pricing services
 and other techniques. Broker quotes are generally used when
 external public vendor prices are not available.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The Company has a process in place that includes a review of price
 movements relative to the market, a comparison of prices between
 vendors, and a comparison to internal matrix pricing which uses
 predominately external observable data. Judgment is applied in
 adjusting external observable data for items including liquidity
 and credit factors.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The Company categorizes its fair value measurements according to a
 three-level hierarchy. The hierarchy prioritizes the inputs used by
 the Company&amp;#x2019;s valuation techniques. A level is assigned to
 each fair value measurement based on the lowest level input
 significant to the fair value measurement in its entirety. The
 three levels of the fair value hierarchy are defined as
 follows:&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Level&amp;#xA0;1 &amp;#x2013; Fair value measurements that reflect
 unadjusted, quoted prices in active markets for identical assets
 and liabilities that the Company can access at the measurement date
 reflecting market transactions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Level&amp;#xA0;2 &amp;#x2013; Fair value measurements using inputs other
 than quoted prices included within Level&amp;#xA0;1 that are observable
 for the asset or liability, either directly or indirectly. These
 include quoted prices for similar assets and liabilities in active
 markets, quoted prices for identical or similar assets and
 liabilities in inactive markets, inputs that are observable that
 are not prices (such as interest rates, credit risks, etc.) and
 inputs that are derived from or corroborated by observable market
 data. Most debt securities are classified within Level&amp;#xA0;2.
 Also, included in the Level&amp;#xA0;2 category are derivative
 instruments that are priced using models with observable market
 inputs, including interest rate swaps, equity swaps, and foreign
 currency forward contracts.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Level&amp;#xA0;3 &amp;#x2013; Fair value measurements using significant
 &lt;font style="WHITE-SPACE: nowrap"&gt;non-market&lt;/font&gt; observable
 inputs. These include valuations for assets and liabilities that
 are derived using data, some or all of which is not market
 observable, including assumptions about risk. Level&amp;#xA0;3
 securities include less liquid securities such as structured
 asset-backed securities, commercial mortgage-backed securities
 (&amp;#x201C;CMBS&amp;#x201D;), certain long-duration bonds and other
 securities that have little or no price transparency. Certain
 derivative financial instruments and investment properties are also
 included in Level&amp;#xA0;3.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_ABD4FB18-EE7A-4C8D-9AFA-F40511C1E43E_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(k) Other financial instruments accounted
 for as liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company issues a variety of other financial instruments
 classified as liabilities, including notes payable, term notes,
 senior notes, senior debentures, subordinated notes, surplus notes,
 subscription receipts and preferred shares. These financial
 liabilities are measured at amortized cost, with issuance costs
 deferred and amortized using the effective interest rate
 method.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_4DBB2808-6227-4A55-8064-77D22C0A4CB7_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(n) Stock-based
 compensation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company provides stock-based compensation to certain employees
 and directors as described in note 15. Compensation expense of
 equity instruments is accrued based on the best estimate of the
 number of instruments expected to vest, with revisions made to that
 estimate if subsequent information indicates that actual
 forfeitures are likely to differ from initial estimates, unless
 forfeitures are due to market-based conditions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Stock options are expensed with a corresponding increase in
 contributed surplus. Restricted share units and deferred share
 units are expensed with a corresponding liability accrued based on
 the market value of MFC&amp;#x2019;s common shares at the end of each
 quarter. Performance share units are expensed with a corresponding
 liability accrued based on specific performance conditions and the
 market value of MFC&amp;#x2019;s common shares at the end of each
 quarter. The change in the value of the awards resulting from
 changes in the market value of MFC&amp;#x2019;s common shares or changes
 in the specific performance conditions and credited dividends is
 recognized in income, offset by the impact of total return swaps
 used to manage the variability of the related liability.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Stock-based compensation cost is recognized over the applicable
 vesting period, except if the employee is eligible to retire at the
 time of grant or will be eligible to retire during the vesting
 period. Compensation cost, attributable to stock options,
 restricted share units, and performance share units granted to
 employees who are eligible to retire on the grant date or who will
 become eligible to retire during the vesting period, is recognized
 at the grant date or over the period from the grant date to the
 date of retirement eligibility, respectively.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company&amp;#x2019;s contributions to the Global Share Ownership
 Plan (&amp;#x201C;GSOP&amp;#x201D;) (refer to note 15(d)), are expensed as
 incurred. Under the GSOP, subject to certain conditions, the
 Company will match a percentage of an employee&amp;#x2019;s eligible
 contributions to certain maximums. All contributions are used by
 the plan&amp;#x2019;s trustee to purchase MFC common shares in the open
 market.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory>
  <ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_1C98D7DB-B02B-4204-97CA-359EF7A0D712_1_3" unitRef="iso4217_CAD">-298000000</ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods>
  <ifrs-full:DecreaseThroughClassifiedAsHeldForSaleGoodwill contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_86547AEB-DF0F-4365-9298-D6F057855810_1_1" unitRef="iso4217_CAD">65000000</ifrs-full:DecreaseThroughClassifiedAsHeldForSaleGoodwill>
  <ifrs-full:DecreaseThroughWriteoffFinancialAssets contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_6EE70688-F43D-4229-8158-108703B0682D_3_4" unitRef="iso4217_CAD">-9000000</ifrs-full:DecreaseThroughWriteoffFinancialAssets>
  <ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_46B6F6A2-357B-4B5D-8B38-F3B8A28E146D_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(p) Derivative and hedging
 instruments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company uses derivative financial instruments
 (&amp;#x201C;derivatives&amp;#x201D;) including swaps, forward and futures
 agreements, and options to manage current and anticipated exposures
 to changes in interest rates, foreign exchange rates, commodity
 prices and equity market prices, and to replicate permissible
 investments. Derivatives embedded in other financial instruments
 are separately recorded as derivatives when their economic
 characteristics and risks are not closely related to those of the
 host instrument, the terms of the embedded derivative are the same
 as those of a standalone derivative and the host instrument itself
 is not recorded at FVTPL. Derivatives are recorded at fair value.
 Derivatives with unrealized gains are reported as derivative assets
 and derivatives with unrealized losses are reported as derivative
 liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 A determination is made for each derivative as to whether to apply
 hedge accounting. Where hedge accounting is not applied, changes in
 the fair value of derivatives are recorded in investment income.
 Refer to note 3(c).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Where the Company has elected to apply hedge accounting, a hedging
 relationship is designated and documented at inception. Hedge
 effectiveness is evaluated at inception and throughout the term of
 the hedge. Hedge accounting is only applied when the Company
 expects that the hedging relationship will be highly effective in
 achieving offsetting changes in fair value or changes in cash flows
 attributable to the risk being hedged. The assessment of hedge
 effectiveness is performed at the end of each reporting period both
 prospectively and retrospectively. When it is determined that a
 hedging relationship is no longer effective, or the hedging
 instrument or the hedged item has been sold or terminated, the
 Company discontinues hedge accounting prospectively. In such cases,
 if the derivatives are not sold or terminated, any subsequent
 changes in fair value of the derivatives are recognized in
 investment income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 For derivatives that are designated as hedging instruments, changes
 in fair value are recognized according to the nature of the risks
 being hedged, as discussed below.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In a fair value hedging relationship, changes in fair value of the
 hedging instruments are recorded in investment income, offsetting
 changes in fair value of the hedged items, which would otherwise
 not be carried at fair value. Hedge ineffectiveness is recognized
 in investment income and arises from differences between changes in
 the fair values of hedging instruments and hedged items. When hedge
 accounting is discontinued, the carrying value of the hedged item
 is no longer adjusted and the cumulative fair value adjustments are
 amortized to investment income over the remaining term of the
 hedged item unless the hedged item is sold, at which time the
 balance is recognized immediately in investment income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In a cash flow hedging relationship, the effective portion of the
 change in the fair value of the hedging instrument is recorded in
 OCI while the ineffective portion is recognized in investment
 income. Gains and losses in accumulated other comprehensive income
 (AOCI) are recognized in income during the same periods as the
 variability in the hedged cash flows or the hedged forecasted
 transactions are recognized in income. The reclassifications from
 AOCI are made to investment income, except for total return swaps
 that hedge restricted share units, which are reclassified to
 general expenses.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Gains and losses on cash flow hedges in AOCI are reclassified
 immediately to investment income when the hedged item is sold or
 the forecasted transaction is no longer expected to occur. When a
 hedge is discontinued, but the hedged forecasted transaction
 remains highly probable to occur, the amounts in AOCI are
 reclassified to investment income in the periods during which
 variability in the cash flows hedged or the hedged forecasted
 transaction is recognized in income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In a net investment in foreign operations hedging relationship,
 gains and losses relating to the effective portion of the hedge are
 recorded in OCI. Gains and losses in AOCI are recognized in income
 during the periods when gains or losses on the underlying hedged
 net investment in foreign operations are recognized in income.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_C060A7A3-3309-4E63-9859-124B892F2B5B_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(l) Income taxes&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The provision for income taxes is calculated based on income tax
 laws and income tax rates substantively enacted as at the date of
 the Consolidated Statements of Financial Position. The income tax
 provision is comprised of current income taxes and deferred income
 taxes. Current and deferred income taxes relating to items
 recognized in OCI and directly in equity are similarly recognized
 in OCI and directly in equity, respectively.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Current income taxes are amounts expected to be payable or
 recoverable for the current year and any adjustments to taxes
 payable in respect of previous years.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Deferred income taxes are provided for using the liability method
 and result from temporary differences between the carrying values
 of assets and liabilities and their respective tax bases. Deferred
 income taxes are measured at the substantively enacted tax rates
 that are expected to be applied to temporary differences when they
 reverse.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 A deferred tax asset is recognized to the extent that future
 realization of the tax benefit is probable. Deferred tax assets are
 reviewed at each reporting date and are reduced to the extent that
 it is no longer probable that the tax benefit will be realized.
 Deferred tax assets and liabilities are offset if there is a
 legally enforceable right to offset current tax liabilities and
 assets and they relate to income taxes levied by the same tax
 authority on the same taxable entity.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Deferred tax liabilities are recognized for all taxable temporary
 differences, except in respect of taxable temporary differences
 associated with investments in subsidiaries, associates and joint
 ventures, where the timing of the reversal of the temporary
 differences can be controlled and it is probable that the temporary
 differences will not reverse in the foreseeable future.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The Company records provisions for uncertain tax positions if it is
 probable that the Company will make a payment on tax positions due
 to examinations by tax authorities. These provisions are measured
 at the Company&amp;#x2019;s best estimate of the amount expected to be
 paid. Provisions are reversed to income in the period in which
 management assesses they are no longer required or determined by
 statute.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The Company is subject to income tax laws in various jurisdictions.
 Tax laws are complex and potentially subject to different
 interpretations by the taxpayer and the relevant tax authority. The
 provision for income taxes and deferred income taxes represents
 management&amp;#x2019;s interpretation of the relevant tax laws and its
 estimate of current and future income tax implications of the
 transactions and events during the year. The Company may be
 required to change its provision for income taxes or deferred
 income tax balances when the ultimate deductibility of certain
 items is successfully challenged by taxing authorities, or if
 estimates used in determining the amount of deferred tax asset to
 recognize change significantly, or when receipt of new information
 indicates the need for adjustment in the amount of deferred income
 taxes to be recognized. Additionally, future events, such as
 changes in tax laws, tax regulations, or interpretations of such
 laws or regulations, could have an impact on the provision for
 income taxes, deferred tax balances and the effective tax rate. Any
 such changes could materially affect the amounts reported in the
 Consolidated Financial Statements in the period these changes
 occur.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForReinsuranceExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_AB00C53E-431D-47A3-8CF8-4AB34A7141EB_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(j) Reinsurance assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company uses reinsurance in the normal course of business to
 manage its risk exposure. Insurance ceded to a reinsurer does not
 relieve the Company from its obligations to policyholders. The
 Company remains liable to its policyholders for the portion
 reinsured to the extent that any reinsurer does not meet its
 obligations for reinsurance ceded to it under a reinsurance
 agreement.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Reinsurance assets represent the benefit derived from reinsurance
 agreements &lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt; at the
 reporting date, considering the financial condition of the
 reinsurer. Amounts recoverable from reinsurers are estimated in
 accordance with the terms of the relevant reinsurance contract.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Gains or losses on reinsurance transactions are recognized in
 income immediately on the transaction date and are not amortized.
 Premiums ceded and claims reimbursed are presented on a gross basis
 on the Consolidated Statements of Income. Reinsurance assets are
 not offset against the related insurance contract liabilities and
 are presented separately on the Consolidated Statements of
 Financial Position. Refer to note 7(a).&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForReinsuranceExplanatory>
  <ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_2538024E-044E-4651-9F70-AD442C99567B_1_23" unitRef="iso4217_CAD">6925000000</ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent>
  <ifrs-full:CurrentTaxExpenseIncome contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_1C98D7DB-B02B-4204-97CA-359EF7A0D712_1_1" unitRef="iso4217_CAD">-327000000</ifrs-full:CurrentTaxExpenseIncome>
  <ifrs-full:DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_1C98D7DB-B02B-4204-97CA-359EF7A0D712_1_5" unitRef="iso4217_CAD">1250000000</ifrs-full:DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences>
  <ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_18507D6D-348F-420E-89D6-9AAA7B83898F_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(m) Foreign currency
 translation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Items included in the financial statements of each of the
 Company&amp;#x2019;s subsidiaries are measured by each subsidiary using
 the currency of the primary economic environment in which the
 entity operates (the &amp;#x201C;functional currency&amp;#x201D;).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Transactions in a foreign currency are translated to the functional
 currency at the exchange rate prevailing at the date of the
 transaction. Assets and liabilities denominated in foreign
 currencies are translated to the functional currency at the
 exchange rate in effect at the reporting date. Revenue and expenses
 denominated in foreign currencies are translated at the average
 exchange rate prevailing during the quarter reported. Exchange
 gains and losses are recognized in income except for translation of
 net investments in foreign operations and the results of hedging
 these positions. These foreign exchange gains and losses are
 recognized in OCI until such time that the foreign operation is
 disposed of or control or significant influence over it is
 lost.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_AA79103A-43A1-4FDB-B892-38BCB1F9D55A_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(i) Insurance and investment contract
 liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Most contracts issued by the Company are considered insurance,
 investment or service contracts. Contracts under which the Company
 accepts significant insurance risk from a policyholder are
 classified as insurance contracts in the Consolidated Financial
 Statements. A contract is considered to have significant insurance
 risk if, and only if, an insured event could cause an insurer to
 make significant additional payments in any scenario, excluding
 scenarios that lack commercial substance at the inception of the
 contract. Contracts under which the Company does not accept
 significant insurance risk are either classified as investment
 contracts or considered service contracts and are accounted for in
 accordance with IAS 39&lt;i&gt;&amp;#xA0;&amp;#x201C;&lt;/i&gt;Financial
 Instruments: Recognition and
 Measurement&lt;i&gt;&amp;#x201D;&lt;/i&gt;&amp;#xA0;or IFRS 15
 &amp;#x201C;Revenue from Contracts with customers&amp;#x201D;,
 respectively.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Once a contract has been classified as an insurance contract it
 remains an insurance contract even if the insurance risk reduces
 significantly. Investment contracts can be reclassified as
 insurance contracts if insurance risk subsequently becomes
 significant.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Insurance contract liabilities, net of reinsurance assets,
 represent the amount which, together with estimated future premiums
 and net investment income, will be sufficient to pay estimated
 future benefits, policyholder dividends and refunds, taxes (other
 than income taxes) and expenses on
 policies&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force.&lt;/font&gt;&amp;#xA0;Insurance
 contract liabilities are presented gross of reinsurance assets on
 the Consolidated Statements of Financial Position. The
 Company&amp;#x2019;s Appointed Actuary is responsible for determining
 the amount of insurance contract liabilities in accordance with
 standards established by the Canadian Institute of Actuaries.
 Insurance contract liabilities, net of reinsurance assets, have
 been determined using the Canadian Asset Liability Method
 (&amp;#x201C;CALM&amp;#x201D;) as permitted by IFRS 4 &amp;#x201C;Insurance
 Contracts&amp;#x201D;. Refer to note 7.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Investment contract liabilities include contracts issued to retail
 and institutional investors that do not contain significant
 insurance risk. Investment contract liabilities and deposits are
 measured at amortized cost or at fair value by election. The
 election reduces accounting mismatches between assets supporting
 these contracts and the related policy liabilities. Investment
 contract liabilities are derecognized when the contract expires, is
 discharged or is cancelled.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Derivatives embedded within insurance contracts are separated if
 they are not considered to be closely related to the host insurance
 contract and do not meet the definition of an insurance contract.
 These embedded derivatives are presented separately in other assets
 or other liabilities and are measured at fair value with changes in
 fair value recognized in income.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts>
  <ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E042BC2C-FD6B-4284-B5AD-315CB1816986_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(f) Goodwill and intangible
 assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Goodwill represents the difference between the purchase
 consideration of an acquired business and the Company&amp;#x2019;s
 proportionate share of the net identifiable assets acquired. It is
 initially recorded at cost and subsequently measured at cost less
 any accumulated impairment.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Goodwill is tested for impairment at least annually and whenever
 events or changes in circumstances indicate that the carrying
 amounts may not be recoverable at the cash generating unit
 (&amp;#x201C;CGU&amp;#x201D;) or group of CGUs level. The Company allocates
 goodwill to CGUs or groups of CGUs for impairment testing based on
 the lowest level within the entity in which the goodwill is
 monitored for internal management purposes. The allocation is made
 to those CGUs or groups of CGUs that are expected to benefit from
 the business combination in which the goodwill arose. Any potential
 impairment of goodwill is identified by comparing the recoverable
 amount of a CGU or group of CGUs to its carrying value. Goodwill is
 reduced by the amount of deficiency, if any. If the deficiency
 exceeds the carrying amount of goodwill, the carrying values of the
 remaining assets in the CGU or group of CGUs are subject to being
 reduced by the excess on a &lt;font style="WHITE-SPACE: nowrap"&gt;pro-rata&lt;/font&gt; basis.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The recoverable amount of a CGU is the higher of the estimated fair
 value less costs to sell or the &lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;value-in-use&lt;/font&gt;&lt;/font&gt; of the CGU. In
 assessing &lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;value-in-use,&lt;/font&gt;&lt;/font&gt; estimated future
 cash flows are discounted using a &lt;font style="WHITE-SPACE: nowrap"&gt;pre-tax&lt;/font&gt; discount rate that reflects
 current market assessments of the time value of money and the risks
 specific to the asset. In some cases, the most recent detailed
 calculation made in a prior period of the recoverable amount of a
 CGU is used in the testing of impairment of goodwill in the current
 period. This is the case only if there are no significant changes
 to the CGU, the likelihood of impairment is remote based on the
 analysis of current events and circumstances, and the most recent
 recoverable amount substantially exceeds the carrying amount of the
 CGU.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Intangible assets with indefinite useful lives include the John
 Hancock brand name and certain investment management contracts. The
 indefinite useful life assessment for brand is based on the brand
 name being protected in markets where branded products are sold by
 trademarks, which are renewable indefinitely, and for certain
 investment management contracts due to the ability to renew these
 contracts indefinitely. In addition, there are no legal, regulatory
 or contractual provisions that limit the useful lives of these
 intangible assets. An intangible asset with an indefinite useful
 life is not amortized but is subject to an annual impairment test
 which is performed more frequently if there is an indication that
 it is not recoverable.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Intangible assets with finite useful lives include acquired
 distribution networks, customer relationships, capitalized
 software, certain investment management contracts and other
 contractual rights. Distribution networks, customer relationships,
 and other finite life intangible assets are amortized over their
 estimated useful lives, six to 68 years, either based on
 straight-line or in relation to other asset consumption metrics.
 Software intangible assets are amortized on a straight-line basis
 over their estimated useful lives of three to five years. Finite
 life intangible assets are assessed for indicators of impairment at
 each reporting period. If any indication of impairment exists,
 these assets are subject to an impairment test.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_C726F8FB-E0AB-4175-B710-DE69C4A9E539_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(r) Revenue from service
 contracts&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company recognizes revenue from service contracts in accordance
 with IFRS 15.&amp;#xA0;The Company&amp;#x2019;s service contracts generally
 impose single performance obligations, each consisting of a series
 of similar related services for each customer.&amp;#xA0;Revenue is
 recorded as performance obligations are satisfied over time because
 the customers simultaneously receive and consume the benefits of
 the services rendered, measured using an output method. Revenue for
 variable consideration is recognized to the extent that it is
 highly probable that a significant reversal in the amount of
 cumulative revenue recognized will not occur when the uncertainty
 is subsequently resolved.&amp;#xA0;Refer to Note 14.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue>
  <ifrs-full:CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_4B0C7278-2187-4B82-ABEA-857AEFBA69E2_1_2" unitRef="iso4217_CAD">-1000000</ifrs-full:CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity>
  <ifrs-full:CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_4B0C7278-2187-4B82-ABEA-857AEFBA69E2_1_0" unitRef="iso4217_CAD">6000000</ifrs-full:CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_DA841580-ABFB-4A13-8C1E-92D106E4385A_1011_2" unitRef="iso4217_CAD">-930000000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_1C98D7DB-B02B-4204-97CA-359EF7A0D712_1_6" unitRef="iso4217_CAD">-320000000</ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes>
  <ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_4B0C7278-2187-4B82-ABEA-857AEFBA69E2_1_1" unitRef="iso4217_CAD">-7000000</ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity>
  <ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_06A31146-3A47-42F4-8655-3702B5E6E5CB_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(o) Employee future
 benefits&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company maintains defined contribution and defined benefit
 pension plans and other post-employment plans for employees and
 agents including registered (tax qualified) pension plans that are
 typically funded as well as supplemental &lt;font style="WHITE-SPACE: nowrap"&gt;non-registered&lt;/font&gt; &lt;font style="WHITE-SPACE: nowrap"&gt;(non-qualified)&lt;/font&gt; pension plans for
 executives, retiree and disability welfare plans that are typically
 not funded.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The Company&amp;#x2019;s obligation in respect of defined benefit
 pension and other post-employment benefits is calculated for each
 plan as the estimated present value of future benefits that
 eligible employees have earned in return for their service up to
 the reporting date using the projected benefit method. The discount
 rate used is based on the yield, as at the reporting date, of high
 quality corporate debt securities that have approximately the same
 term as the obligations and that are denominated in the same
 currency in which the benefits are expected to be paid.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 To determine the Company&amp;#x2019;s net defined benefit asset or
 liability, the fair value of plan assets is deducted from the
 defined benefit obligations. When this calculation results in a
 surplus, the asset that can be recognized is limited to the present
 value of future economic benefit available in the form of future
 refunds from the plan or reductions in future contributions to the
 plan (the asset limit). Defined benefit assets are included in
 other assets and defined benefit liabilities are included in other
 liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Changes in the net defined benefit asset or liability due to
 &lt;font style="WHITE-SPACE: nowrap"&gt;re-measurement&lt;/font&gt; of pension
 and retiree welfare plans are recorded in OCI in the period in
 which they occur and are not reclassified to income in subsequent
 periods. They consist of actuarial gains and losses, the impact of
 the asset limit, if any, and the return on plan assets, excluding
 amounts included in net interest income or expense. Changes in the
 net defined benefit asset or liability due to &lt;font style="WHITE-SPACE: nowrap"&gt;re-measurement&lt;/font&gt; of disability welfare
 plans are recorded in income in the period in which they occur.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The cost of defined benefit pension plans is recognized over the
 employee&amp;#x2019;s years of service to retirement while the cost of
 retiree welfare plans is recognized over the employee&amp;#x2019;s years
 of service to their date of full eligibility. The net benefit cost
 for the year is recorded in income and is calculated as the sum of
 the service cost in respect of the fiscal year, the net interest
 income or expense and any applicable administration expenses, plus
 past service costs or credits resulting from plan amendments or
 curtailments. The net interest income or expense is determined by
 applying the discount rate to the net defined benefit asset or
 liability. The current year cost of disability welfare plans is the
 year-over-year change in the defined benefit obligation, including
 any actuarial gains or losses.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The cost of defined contribution plans is the contribution provided
 by the Company and is recorded in income in the periods during
 which services are rendered by employees.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_15C963EF-FA94-4DA7-BD67-9BBCC92B08E4_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Hedging
 Strategies for Variable Annuity and Other Equity
 Risks&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;The Company&amp;#x2019;s exposure to
 movement in public equity market values primarily arises from
 variable annuity guarantees and to a smaller extent from
 asset-based fees and general fund public equity
 holdings.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;Dynamic hedging is the primary
 hedging strategy for variable annuity market risks. Dynamic hedging
 is employed for new variable annuity guarantees business when
 written or as soon as practical thereafter.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;We seek to manage public equity
 risk arising from other sources (not dynamically hedged) through
 our macro equity risk hedging strategy. We seek to manage interest
 rate risk arising from variable annuity business not dynamically
 hedged within our asset liability management strategy.&lt;/font&gt;&lt;/p&gt;
 &lt;/div&gt;
 &lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory>
  <ifrs-full:DisclosureOfBorrowingsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_990973EA-FCF4-4DBE-A3BA-4689CE3B2F27_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 10&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Long-Term
 Debt&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Carrying value of long-term debt
 instruments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="46%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 Issue date&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 Maturity date&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Par value&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 4.70% Senior notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1),(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;June&amp;#xA0;23, 2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;June&amp;#xA0;23, 2046&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;US$&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,355&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5.375% Senior notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2),(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;March&amp;#xA0;4,&amp;#xA0;2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;March&amp;#xA0;4,&amp;#xA0;2046&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 US$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;750&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,010&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;928&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.527% Senior notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2),(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;2,&amp;#xA0;2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;2,&amp;#xA0;2026&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 US$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;270&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;367&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;338&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 4.150% Senior notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2),(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;March&amp;#xA0;4, 2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;March&amp;#xA0;4, 2026&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;US$&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,356&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 4.90% Senior notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2),(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;September&amp;#xA0;17,&amp;#xA0;2010&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;September&amp;#xA0;17,&amp;#xA0;2020&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 US$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;681&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;626&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5.505% Medium-term notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 June&amp;#xA0;26, 2008&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 June&amp;#xA0;26, 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;400&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;400&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;4,769&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;4,784&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MFC may redeem the notes in whole, but not in part, on
 June&amp;#xA0;23, 2021 and thereafter on every June&amp;#xA0;23, at a
 redemption price equal to par, together with accrued and unpaid
 interest.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MFC may redeem the senior notes in whole or in part,
 at any time, at a redemption price equal to the greater of par and
 a price based on the yield of a corresponding U.S. Treasury bond
 plus a specified number of basis points. The specified number of
 basis points is as follows: 5.375% &amp;#x2013; 40 bps, 3.527% &amp;#x2013;
 20 bps, 4.150% &amp;#x2013; 35 bps, and 4.90% &amp;#x2013; 35 bps.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These U.S. dollar senior notes have been designated as
 hedges of the Company&amp;#x2019;s net investment in its U.S. operations
 which reduces the earnings volatility that would otherwise arise
 from the &lt;font style="WHITE-SPACE: nowrap"&gt;re-measurement&lt;/font&gt; of
 these senior notes into Canadian dollars.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On June&amp;#xA0;26, 2018, the 5.505% Medium term notes
 matured.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The cash amount of interest paid on long-term debt during the year
 ended December&amp;#xA0;31, 2018 was $222 (2017 &amp;#x2013; $324). Issue
 costs are amortized over the term of the debt.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Fair value measurement&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Fair value of a long-term debt instrument is determined using
 quoted market prices where available (Level 1). When quoted market
 prices are not available, fair value is determined with reference
 to quoted prices of a debt instrument with similar characteristics
 or estimated using discounted cash flows using observable market
 rates (Level 2).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Long-term debt is measured at amortized cost in the Consolidated
 Statements of Financial Position. As at December&amp;#xA0;31, 2018, the
 fair value of long-term debt was $4,886 (2017 &amp;#x2013; $5,186).
 Long-term debt was categorized in Level&amp;#xA0;2 of the fair value
 hierarchy (2017&amp;#xA0;&amp;#x2013;&amp;#xA0;Level&amp;#xA0;2).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Aggregate maturities of long-term
 debt&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="88%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Less than one year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;400&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 One to two years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;681&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Two to three years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;626&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Greater than five years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,088&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;3,758&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;4,769&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;4,784&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfBorrowingsExplanatory>
  <ifrs-full:DisclosureOfCreditRiskExposureExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E628B73B-E3B8-4507-A289-17036F873257_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The following table presents the gross carrying amount of financial
 instruments subject to credit exposure, without considering any
 collateral held or other credit enhancements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="80%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;154,737&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;147,024&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,857&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26,976&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,363&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,793&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,737&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,703&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,569&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Accrued investment income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,427&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,182&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reinsurance assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;43,053&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;30,359&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other financial assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;5,253&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;341,933&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;311,782&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfCreditRiskExposureExplanatory>
  <ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_8E1BC07E-BEB6-4FCE-85DF-7FEE448D194E_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 4&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Derivative
 and Hedging Instruments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Derivatives are financial contracts, the value of which is derived
 from underlying interest rates, foreign exchange rates, other
 financial instruments, commodity prices or indices. The Company
 uses derivatives including swaps, forward and futures agreements,
 and options to manage current and anticipated exposures to changes
 in interest rates, foreign exchange rates, commodity prices and
 equity market prices, and to replicate permissible investments.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Swaps are &lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;over-the-counter&lt;/font&gt;&lt;/font&gt;
 (&amp;#x201C;OTC&amp;#x201D;) contractual agreements between the Company and
 a third party to exchange a series of cash flows based upon rates
 applied to a notional amount. For interest rate swaps,
 counterparties generally exchange fixed or floating interest rate
 payments based on a notional value in a single currency. Cross
 currency swaps involve the exchange of principal amounts between
 parties as well as the exchange of interest payments in one
 currency for the receipt of interest payments in another currency.
 Total return swaps are contracts that involve the exchange of
 payments based on changes in the values of a reference asset,
 including any returns such as interest earned on these assets, in
 return for amounts based on reference rates specified in the
 contract.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Forward and futures agreements are contractual obligations to buy
 or sell a financial instrument, foreign currency or other
 underlying commodity on a predetermined future date at a specified
 price. Forward contracts are OTC contracts negotiated between
 counterparties, whereas futures agreements are contracts with
 standard amounts and settlement dates that are traded on regulated
 exchanges.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Options are contractual agreements whereby the holder has the
 right, but not the obligation, to buy (call option) or sell (put
 option) a security, exchange rate, interest rate, or other
 financial instrument at a predetermined price/rate within a
 specified time.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 See variable annuity dynamic hedging strategy in the &amp;#x201C;Risk
 Management&amp;#x201D; section of the Company&amp;#x2019;s 2018 MD&amp;amp;A for
 an explanation of the Company&amp;#x2019;s dynamic hedging strategy for
 its variable annuity product guarantees.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Fair value of
 derivatives&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The pricing models used to value OTC derivatives are based on
 market standard valuation methodologies and the inputs to these
 models are consistent with what a market participant would use when
 pricing the instruments. Derivative valuations can be affected by
 changes in interest rates, currency exchange rates, financial
 indices, credit spreads, default risk (including the counterparties
 to the contract), and market volatility. The significant inputs to
 the pricing models for most OTC derivatives are inputs that are
 observable or can be corroborated by observable market data and are
 classified as Level&amp;#xA0;2. Inputs that are observable generally
 include interest rates, foreign currency exchange rates and
 interest rate curves. However, certain OTC derivatives may rely on
 inputs that are significant to the fair value that are not
 observable in the market or cannot be derived principally from, or
 corroborated by, observable market data and these derivatives are
 classified as Level&amp;#xA0;3. Inputs that are unobservable generally
 include broker quotes, volatilities and inputs that are outside of
 the observable portion of the interest rate curve or other relevant
 market measures. These unobservable inputs may involve significant
 management judgment or estimation. Even though unobservable, these
 inputs are based on assumptions deemed appropriate given the
 circumstances and consistent with what market participants would
 use when pricing such instruments. The Company&amp;#x2019;s use of
 unobservable inputs is limited and the impact on derivative fair
 values does not represent a material amount as evidenced by the
 limited amount of Level&amp;#xA0;3 derivatives. The credit risk of both
 the counterparty and the Company are considered in determining the
 fair value for all OTC derivatives after considering the effects of
 netting agreements and collateral arrangements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following table presents gross notional amount and fair value
 of derivative instruments by the underlying risk exposure.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td width="80%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5" colspan="3"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom" colspan="3"&gt;&lt;font style="FONT-SIZE: 7pt" color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="10" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;2017&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" rowspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" rowspan="2" colspan="2" align="right"&gt;Notional&lt;br /&gt;
 amount&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" rowspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" rowspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" rowspan="2" colspan="2" align="right"&gt;
 Notional&lt;br /&gt;
 amount&lt;/td&gt;
 &lt;td valign="bottom" rowspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Type of
 hedge&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Instrument type&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Assets&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Liabilities&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2" align="right"&gt;Assets&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2" align="right"&gt;Liabilities&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="top" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Qualifying hedge accounting relationships&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fair&amp;#xA0;value&amp;#xA0;hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;519&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;548&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;91&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;84&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash&amp;#xA0;flow&amp;#xA0;hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,834&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;80&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;367&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,757&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;333&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;80&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;165&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;101&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;125&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net&amp;#xA0;investment&amp;#xA0;hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency forwards&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,864&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;65&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total derivatives in qualifying hedge accounting relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,489&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;106&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;466&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,679&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;37&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;362&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Derivatives not designated in qualifying hedge&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;accounting relationships&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;300,704&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,204&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,675&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;246,270&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,984&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,251&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,297&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,551&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate options&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,736&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;314&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,093&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;312&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23,156&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;747&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,341&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,321&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;494&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,122&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Currency rate futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,052&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,157&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;29,248&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;670&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;158&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20,341&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;915&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;65&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,492&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;653&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;163&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,597&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;813&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit default swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;652&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;606&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,908&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;12,158&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total derivatives not designated in qualifying hedge accounting
 relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;410,245&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,597&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7,337&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;334,094&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;15,532&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;7,460&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total derivatives&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;414,734&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;13,703&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;7,803&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;336,773&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;15,569&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;7,822&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following table presents fair values of derivative instruments
 by the remaining term to maturity. The fair values disclosed below
 do not incorporate the impact of master netting agreements. Refer
 to note 9.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="60%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Remaining term to maturity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Less&amp;#xA0;than&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 to 3&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;3 to 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Over 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Total&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;649&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;671&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;795&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,588&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,703&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;359&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;229&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;227&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,988&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,803&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="13" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;Remaining
 term to maturity&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font style="FONT-SIZE: 7pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Less&amp;#xA0;than&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1 to 3&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;3 to 5&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Over 5&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Total&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;605&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;822&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;889&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;13,253&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;15,569&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;224&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;149&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;168&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;7,281&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;7,822&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The following table presents gross notional amount by the remaining
 term to maturity, total fair value (including accrued interest),
 credit risk equivalent and risk-weighted amount by contract
 type.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="35%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center"&gt;Remaining term to
 maturity (notional amounts)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Under 1&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 to 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Over&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;5 years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Positive&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Negative&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Net&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Credit&amp;#xA0;risk&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;equivalent&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Risk-&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;weighted&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;amount&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 OTC swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,495&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;22,568&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;121,817&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;147,880&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,750&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(6,477&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,273&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,301&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;787&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Cleared swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,723&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,140&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;131,480&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;153,343&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;95&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(96&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,258&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,300&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;648&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;25,206&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;637&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(126&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;511&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;259&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;37&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,297&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,297&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Options purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,166&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,981&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,589&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11,736&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;317&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;317&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;376&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;58&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Subtotal&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;34,939&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;57,989&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;259,534&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;352,462&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,799&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(6,699&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,936&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;882&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign exchange&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,024&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,281&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,776&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;25,081&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;807&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,736&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(929&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,309&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;256&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,926&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;60&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,986&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;54&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(106&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(52&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;108&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 Futures&lt;/p&gt;
 &lt;/td&gt;
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 &lt;b&gt;4,052&lt;/b&gt;&lt;/td&gt;
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 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit derivatives&lt;/p&gt;
 &lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,728&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;142&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,870&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;29&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;303&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;38&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,908&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,908&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Options purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,142&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,581&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,723&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;621&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(118&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;503&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,277&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;316&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Subtotal including accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;65,862&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;71,562&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;277,310&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;414,734&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,320&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(8,716&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,604&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,933&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,505&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Less accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;617&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(913&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(296&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;65,862&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;71,562&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;277,310&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;414,734&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,703&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7,803&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,900&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,933&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,505&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center"&gt;Remaining term to maturity (notional
 amounts)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Under 1&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 to 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Over&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;5 years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Positive&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Negative&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Net&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Credit&amp;#xA0;risk&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;equivalent&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Risk-&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;weighted&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;amount&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 OTC swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,161&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,141&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;112,412&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;138,714&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,379&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6,867&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,512&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,588&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;809&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Cleared swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,615&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,928&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;93,561&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;108,104&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;245&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(206&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,036&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,614&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;675&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,325&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;903&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(38&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;865&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;285&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,551&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,551&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Options purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;816&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;3,856&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;5,421&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10,093&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;312&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;312&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;471&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;61&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Subtotal&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;27,179&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;46,539&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;212,069&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;285,787&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,839&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7,111&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,728&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,344&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;905&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign exchange&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;999&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,481&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,682&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,162&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;510&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,483&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(973&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,874&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;200&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,046&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;135&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,181&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(31&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(19&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;101&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,157&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,157&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;38&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;568&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;606&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,612&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;169&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,781&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;60&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;46&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;337&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,158&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,158&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Options purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4,693&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;6,148&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;100&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10,941&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;769&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;759&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,606&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;305&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Subtotal including accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;53,882&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;58,040&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;224,851&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;336,773&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,204&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(8,649&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,555&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,262&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 1,457&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Less accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;635&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(827&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(192&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;53,882&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;58,040&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;224,851&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;336,773&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;15,569&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(7,822&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;7,747&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;12,262&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,457&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Credit risk equivalent is the sum of replacement cost
 and the potential future credit exposure. Replacement cost
 represents the current cost of replacing all contracts with a
 positive fair value. The amounts take into consideration legal
 contracts that permit offsetting of positions. The potential future
 credit exposure is calculated based on a formula prescribed by
 OSFI.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Risk-weighted amount represents the credit risk
 equivalent, weighted according to the creditworthiness of the
 counterparty, as prescribed by OSFI.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The total notional amount of $415&amp;#xA0;billion (2017 &amp;#x2013; $337
 billion) includes $136&amp;#xA0;billion (2017 &amp;#x2013; $114 billion)
 related to derivatives utilized in the Company&amp;#x2019;s variable
 annuity guarantee dynamic hedging and macro equity risk hedging
 programs. Due to the Company&amp;#x2019;s variable annuity hedging
 practices, a large number of trades are in offsetting positions,
 resulting in materially lower net fair value exposure to the
 Company than what the gross notional amount would suggest.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 18px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Fair value and the fair value hierarchy of
 derivative instruments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="65%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Derivative assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,155&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,537&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;618&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Foreign exchange contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;886&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;876&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;653&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;621&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;32&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Credit default swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total derivative assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,703&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,043&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;660&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Derivative liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,815&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,318&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;497&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Foreign exchange contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,814&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,813&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;174&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;118&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total derivative liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7,803&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7,249&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;554&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Derivative assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,199&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,181&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,018&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Foreign exchange contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;527&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;527&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;829&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;768&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;61&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Credit default swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total derivative assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;15,569&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;14,490&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,079&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Derivative liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,309&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,012&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;297&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Foreign exchange contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,490&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,490&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;23&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;13&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total derivative liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;7,822&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;7,512&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;310&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following table presents a roll forward for net derivative
 contracts measured at fair value using significant unobservable
 inputs (Level 3).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance at the beginning of the year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;769&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;163&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net realized / unrealized gains (losses) included in:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Net income&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(666&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,082&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 OCI&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(48&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Purchases&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Settlements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(103&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Transfers&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Into Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Out of Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(13&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(363&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Currency movement&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;25&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(23&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance at the end of the year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;106&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;769&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Change in unrealized gains (losses) on instruments still
 held&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(460&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;832&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These amounts are included in investment income on the
 Consolidated Statements of Income.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These amounts are included in AOCI on the Consolidated
 Statements of Financial Position.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;For derivatives transferred into and out of
 Level&amp;#xA0;3, the Company uses the fair value of the items at the
 end and beginning of the period, respectively. Transfers into
 Level&amp;#xA0;3 occur when the inputs used to price the assets and
 liabilities lack observable market data (versus the previous year).
 Transfers out of Level&amp;#xA0;3 occur when the inputs used to price
 the assets and liabilities become available from observable market
 data.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Hedging relationships&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company uses derivatives for economic hedging purposes. In
 certain circumstances, these hedges also meet the requirements of
 hedge accounting. Risk management strategies eligible for hedge
 accounting are designated as fair value hedges, cash flow hedges or
 net investment hedges, as described below.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Fair value hedges&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company uses interest rate swaps to manage its exposure to
 changes in the fair value of fixed rate financial instruments due
 to changes in interest rates. The Company also uses cross currency
 swaps to manage its exposure to foreign exchange rate fluctuations,
 interest rate fluctuations, or both.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company recognizes gains and losses on derivatives and the
 related hedged items in fair value hedges in investment income.
 These investment gains (losses) are shown in the following
 table.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="35%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td width="36%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Hedged items in qualifying&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 fair value hedging&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 recognized&amp;#xA0;on&lt;br /&gt;
 derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 recognized&amp;#xA0;for&lt;br /&gt;
 hedged&amp;#xA0;items&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Ineffectiveness&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 recognized in&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 investment&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 income&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(5&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;11&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Hedged items in qualifying&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 fair value hedging&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 recognized&amp;#xA0;on&lt;br /&gt;
 derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 recognized&amp;#xA0;for&lt;br /&gt;
 hedged&amp;#xA0;items&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 Ineffectiveness&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 recognized in&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 investment&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 income&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;(1)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(17&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;18&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;1&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Cash flow hedges&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company uses interest rate swaps to hedge the variability in
 cash flows from variable rate financial instruments and forecasted
 transactions. The Company also uses cross currency swaps and
 foreign currency forward contracts to hedge the variability from
 foreign currency financial instruments and foreign currency
 expenses. Total return swaps are used to hedge the variability in
 cash flows associated with certain stock-based compensation awards.
 Inflation swaps are used to reduce inflation risk generated from
 inflation-indexed liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The effects of derivatives in cash flow hedging relationships on
 the Consolidated Statements of Income and the Consolidated
 Statements of Comprehensive Income are shown in the following
 table.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="32%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td width="34%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Hedged items in qualifying&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 cash flow hedging&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Gains
 (losses)&lt;br /&gt;
 deferred in&lt;br /&gt;
 AOCI on&lt;br /&gt;
 derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Gains (losses)&lt;br /&gt;
 reclassified&lt;br /&gt;
 from&amp;#xA0;AOCI&amp;#xA0;into&lt;br /&gt;
 investment&lt;br /&gt;
 income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Ineffectiveness&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 recognized in&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 investment&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 income&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forecasted liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(20&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Floating rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(36&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(62&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;60&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;62&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forecasted expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Stock-based compensation&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(5&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Hedged items in qualifying&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 cash flow hedging&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Gains (losses)&lt;br /&gt;
 deferred in&lt;br /&gt;
 AOCI on&lt;br /&gt;
 derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gains (losses)&lt;br /&gt;
 reclassified&lt;br /&gt;
 from&amp;#xA0;AOCI&amp;#xA0;into&lt;br /&gt;
 investment&lt;br /&gt;
 income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 Ineffectiveness&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 recognized in&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 investment&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 income&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forecasted liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Floating rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;95&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;50&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forecasted expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 Stock-based compensation&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;20&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;29&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;163&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;58&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The Company anticipates that net losses of approximately $31 will
 be reclassified from AOCI to net income within the next 12 months.
 The maximum time frame for which variable cash flows are hedged is
 18 years.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Hedges of net investments in foreign
 operations&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company primarily uses forward currency contracts, cross
 currency swaps and &lt;font style="WHITE-SPACE: nowrap"&gt;non-functional&lt;/font&gt; currency denominated
 debt to manage its foreign currency exposures to net investments in
 foreign operations.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The effects of net investment hedging relationships on the
 Consolidated Statements of Income and the Consolidated Statements
 of Other Comprehensive Income are shown in the following table.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="89%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 deferred&amp;#xA0;in&amp;#xA0;AOCI&lt;br /&gt;
 on derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 reclassified&amp;#xA0;from&lt;br /&gt;
 AOCI into&lt;br /&gt;
 investment&amp;#xA0;income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Ineffectiveness&lt;br /&gt;
 recognized in&lt;br /&gt;
 investment&lt;br /&gt;
 income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-functional&lt;/font&gt; currency
 denominated debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(469&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency forward&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(460&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gains (losses)&lt;br /&gt;
 deferred in AOCI&lt;br /&gt;
 on derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gains (losses)&lt;br /&gt;
 reclassified from&lt;br /&gt;
 AOCI into&lt;br /&gt;
 investment income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Ineffectiveness&lt;br /&gt;
 recognized in&lt;br /&gt;
 investment&lt;br /&gt;
 income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-functional&lt;/font&gt; currency
 denominated debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;355&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;355&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Derivatives not designated in
 qualifying hedge accounting relationships&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Derivatives used in portfolios supporting insurance contract
 liabilities are generally not designated in qualifying hedge
 accounting relationships because the change in the value of the
 insurance contract liabilities economically hedged by these
 derivatives is also recorded through net income. Since changes in
 fair value of these derivatives and related hedged risks are
 recognized in investment income as they occur, they generally
 offset the change in hedged risk to the extent the hedges are
 economically effective. Interest rate and cross currency swaps are
 used in the portfolios supporting insurance contract liabilities to
 manage duration and currency risks.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Investment income on derivatives not designated in qualifying hedge
 accounting relationships&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,894&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(927&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(298&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;372&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate options&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(52&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(96&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(122&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Currency rate futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(92&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(355&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,231&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;742&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,190&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(276&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;153&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit default swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,258)&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(1,024&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Embedded derivatives&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Certain insurance contracts contain features that are classified as
 embedded derivatives and are measured separately at FVTPL including
 reinsurance contracts related to guaranteed minimum income benefits
 and contracts containing certain credit and interest rate
 features.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Certain reinsurance contracts related to guaranteed minimum income
 benefits contain embedded derivatives requiring separate
 measurement at FVTPL as the financial component contained in the
 reinsurance contracts does not contain significant insurance risk.
 As at December&amp;#xA0;31, 2018, reinsurance ceded guaranteed minimum
 income benefits had a fair value of $1,148 (2017 &amp;#x2013; $1,079)
 and reinsurance assumed guaranteed minimum income benefits had a
 fair value of $114 (2017 &amp;#x2013; $100). Claims recovered under
 reinsurance ceded contracts offset claims expenses and claims paid
 on the reinsurance assumed are reported as contract benefits.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The Company&amp;#x2019;s credit and interest rate embedded derivatives
 promise to pay the returns on a portfolio of assets to the contract
 holder. These embedded derivatives contain a credit and interest
 rate risk that is a financial risk embedded in the underlying
 insurance contract. As at December&amp;#xA0;31, 2018, these embedded
 derivatives had a fair value of $53 (2017 &amp;#x2013; $123).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Other financial instruments classified as embedded derivatives but
 exempt from separate measurement at fair value include variable
 universal life and variable life products, minimum guaranteed
 credited rates, no lapse guarantees, guaranteed annuitization
 options, CPI indexing of benefits, and segregated fund minimum
 guarantees other than reinsurance ceded/assumed guaranteed minimum
 income benefits. These embedded derivatives are measured and
 reported within insurance contract liabilities and are exempt from
 separate fair value measurement as they contain insurance risk
 and/or are closely related to the insurance host contract.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_4420B541-7CBD-487C-8212-BE44C094B3EC_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Carrying value of long-term debt
 instruments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="46%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 Issue date&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 Maturity date&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Par value&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 4.70% Senior notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1),(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;June&amp;#xA0;23, 2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;June&amp;#xA0;23, 2046&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;US$&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,355&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5.375% Senior notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2),(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;March&amp;#xA0;4,&amp;#xA0;2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;March&amp;#xA0;4,&amp;#xA0;2046&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 US$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;750&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,010&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;928&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.527% Senior notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2),(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;2,&amp;#xA0;2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;2,&amp;#xA0;2026&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 US$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;270&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;367&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;338&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 4.150% Senior notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2),(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;March&amp;#xA0;4, 2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;March&amp;#xA0;4, 2026&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;US$&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,356&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 4.90% Senior notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2),(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;September&amp;#xA0;17,&amp;#xA0;2010&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;September&amp;#xA0;17,&amp;#xA0;2020&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 US$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;681&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;626&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5.505% Medium-term notes&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 June&amp;#xA0;26, 2008&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 June&amp;#xA0;26, 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;400&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;400&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;4,769&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;4,784&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MFC may redeem the notes in whole, but not in part, on
 June&amp;#xA0;23, 2021 and thereafter on every June&amp;#xA0;23, at a
 redemption price equal to par, together with accrued and unpaid
 interest.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MFC may redeem the senior notes in whole or in part,
 at any time, at a redemption price equal to the greater of par and
 a price based on the yield of a corresponding U.S. Treasury bond
 plus a specified number of basis points. The specified number of
 basis points is as follows: 5.375% &amp;#x2013; 40 bps, 3.527% &amp;#x2013;
 20 bps, 4.150% &amp;#x2013; 35 bps, and 4.90% &amp;#x2013; 35 bps.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These U.S. dollar senior notes have been designated as
 hedges of the Company&amp;#x2019;s net investment in its U.S. operations
 which reduces the earnings volatility that would otherwise arise
 from the &lt;font style="WHITE-SPACE: nowrap"&gt;re-measurement&lt;/font&gt; of
 these senior notes into Canadian dollars.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On June&amp;#xA0;26, 2018, the 5.505% Medium term notes
 matured.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory>
  <ifrs-full:DisclosureOfEmployeeBenefitsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_19F660B1-F083-43CC-AEA4-7E6FBFC08946_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 16&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0; Employee
 Future Benefits&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company maintains defined contribution and defined benefit
 pension plans and other post-employment plans for employees and
 agents including registered (tax qualified) pension plans that are
 typically funded, as well as
 supplemental&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-registered&lt;/font&gt;&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;(non-qualified)&lt;/font&gt;&amp;#xA0;pension
 plans for executives, retiree welfare plans and disability welfare
 plans that are typically not funded.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Plan characteristics&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 To reduce the financial risk associated with final average pay
 defined benefit pension plans and retiree welfare plans, the
 Company has over time closed all these plans to new members and, in
 the case of pension plans, has replaced them with capital
 accumulation plans. The latter include defined benefit cash balance
 plans, 401(k) plans and/or defined contribution plans, depending on
 the country of employment. The result is that final average pay
 pension plans account for less than 50&amp;#xA0;per cent of the
 Company&amp;#x2019;s global pension obligations and the number of
 employees who accrue these pensions declines each year.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 During the year, the Company implemented a voluntary exit program,
 as part of its Canadian operations transformation, and a North
 American voluntary early retirement program. Combined, these two
 programs will result in the voluntary separation of 1,270 employees
 in Canada and 229 employees in the U.S. by the end of 2019. A
 curtailment loss of $22 resulting from these programs was recorded
 in earnings during the 4&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;th&lt;/sup&gt;&amp;#xA0;quarter
 of 2018. This loss represents the increase in net defined benefit
 liability due to the affected employees separating sooner than had
 previously been assumed.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 All pension arrangements are governed by local pension committees
 or management, but significant plan changes require approval from
 the Company&amp;#x2019;s Board of Directors.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s funding policy for defined benefit pension
 plans is to make the minimum annual contributions required by
 regulations in the countries in which the plans are offered.
 Assumptions and methods prescribed for regulatory funding purposes
 typically differ from those used for accounting purposes.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s remaining defined benefit pension and/or
 retiree welfare plans are in the U.S., Canada, Japan, and Taiwan
 (China). There are also disability welfare plans in the U.S. and
 Canada.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The largest defined benefit pension and retiree welfare plans are
 the primary plans for employees in the U.S. and Canada. These are
 the material plans that are discussed in the balance of this note.
 The Company measures its defined benefit obligations and fair value
 of plan assets for accounting purposes as at December&amp;#xA0;31 each
 year.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;U.S. defined benefit pension and retiree
 welfare plans&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company operates a qualified cash balance plan that is open to
 new members, a closed&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-qualified&lt;/font&gt;&amp;#xA0;cash
 balance plan, and a closed retiree welfare plan.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Actuarial valuations to determine the Company&amp;#x2019;s minimum
 funding contributions for the qualified cash balance plan are
 required annually. Deficits revealed in the funding valuations must
 generally be funded over a period of up to seven years. It is
 expected that there will be no required funding for this plan in
 2019. There are no plan assets set aside for
 the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-qualified&lt;/font&gt;&amp;#xA0;cash
 balance plan.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The retiree welfare plan subsidizes the cost of life insurance and
 medical benefits. The majority of those who retired after 1991
 receive a fixed-dollar subsidy from the Company based on service.
 The plan was closed to all employees hired after 2004. While assets
 have been set aside in a qualified trust to pay future retiree
 welfare benefits, this funding is optional. Retiree welfare
 benefits offered under the plan coordinate with the U.S. Medicare
 program to make optimal use of available federal financial
 support.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The qualified pension and retiree welfare plans are governed by the
 U.S. Benefits Committee, while the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-qualified&lt;/font&gt;&amp;#xA0;pension
 plan is governed by the U.S.&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-Qualified&lt;/font&gt;&amp;#xA0;Plans
 Subcommittee.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Canadian defined benefit pension and
 retiree welfare plans&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s defined benefit plans in Canada include two
 registered final average pay pension plans,
 a&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-registered&lt;/font&gt;&amp;#xA0;supplemental
 final average pay pension plan and a retiree welfare plan, all of
 which have been closed to new members.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Actuarial valuations to determine the Company&amp;#x2019;s minimum
 funding contributions for the registered pension plans are required
 at least once every three years. Deficits revealed in the funding
 valuation must generally be funded over a period of ten years. For
 2019, the required funding for these plans is expected to be $12.
 The supplemental&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-registered&lt;/font&gt;&amp;#xA0;pension
 plan is not funded.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The retiree welfare plan subsidizes the cost of life insurance,
 medical and dental benefits. These subsidies are a fixed dollar
 amount for those who retired after April&amp;#xA0;30, 2013 and will be
 eliminated for those who retire after 2019. There are no assets set
 aside for this plan.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The registered pension plans are governed by Pension Committees,
 while the supplemental&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-registered&lt;/font&gt;&amp;#xA0;plan
 is governed by the Board of Directors. The retiree welfare plan is
 governed by management.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Risks&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In final average pay pension plans and retiree welfare plans, the
 Company generally bears the material risks which include interest
 rate, investment, longevity and health care cost inflation risks.
 In defined contribution plans, these risks are typically borne by
 the employee. In cash balance plans, the interest rate, investment
 and longevity risks are partially transferred to the employee.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Material sources of risk to the Company for all plans include:&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;A decline in discount rates that increases the defined
 benefit obligations by more than the change in value of plan
 assets;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Lower than expected rates of mortality; and&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;For retiree welfare plans, higher than expected health
 care costs.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company has managed these risks through plan design and
 eligibility changes that have limited the size and growth of the
 defined benefit obligations. Investment risks for funded plans are
 managed through strategies aimed at improving the alignment between
 movements in the invested assets and movements in the
 obligations.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In the U.S., delegated committee representatives and management
 review the financial status of the qualified defined benefit
 pension plan at least monthly, and steps are taken in accordance
 with an established dynamic investment policy to reduce the risk in
 the plan as the funded status improves. As at December&amp;#xA0;31,
 2018, the target asset allocation for the plan was 27%
 return-seeking assets and 73% liability-hedging assets.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In Canada, internal committees and management review the financial
 status of the registered defined benefit pension plans on at least
 a quarterly basis. As at December&amp;#xA0;31, 2018, the target asset
 allocation for the plans was 20% return-seeking assets and 80%
 liability-hedging assets.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Pension and retiree welfare
 plans&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="77%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Changes in defined benefit obligation:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Opening balance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,706&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,767&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;665&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;682&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Current service cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;42&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;48&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Past service cost &amp;#x2013; amendments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Past service cost &amp;#x2013; curtailments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;165&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;182&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;24&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Plan participants&amp;#x2019; contributions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Actuarial losses (gains) due to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Experience&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Demographic assumption changes&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;35&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Economic assumption changes&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;214&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;41&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Benefits paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(304&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(315&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(45&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(45&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;262&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(206&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;44&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(35&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Defined benefit obligation, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;4,675&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;4,706&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;640&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;665&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="77%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Change in plan assets:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fair value of plan assets, opening balance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;4,328&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;4,277&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;587&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;603&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;153&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;164&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;23&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return on plan assets (excluding interest income)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(315&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;312&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(16&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;30&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Employer contributions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;79&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;85&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Plan participants&amp;#x2019; contributions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Benefits paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(304&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(315&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(45&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(45&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Administration costs&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;254&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(191&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;51&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(38&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Fair value of plan assets, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;4,190&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;4,328&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;610&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;587&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Amounts recognized in the Consolidated
 Statements of Financial Position&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="77%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Development of net defined benefit liability&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined benefit obligation&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;4,675&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;4,706&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;640&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;665&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fair value of plan assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,190&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,328&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;610&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;587&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Deficit&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;485&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;378&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;30&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;78&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Effect of asset limit&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Deficit and net defined benefit liability&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;494&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;378&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;30&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;78&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Deficit is comprised of:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Funded or partially funded plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(248&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(383&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(121&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(72&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Unfunded plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;742&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;761&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;151&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;150&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Deficit and net defined benefit liability&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;494&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;378&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;30&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;78&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2018, the Company recognized an impairment of $9 on
 the net defined benefit asset for one of its registered pension
 plans in Canada. This was due to the conversion of most plan
 benefits for future service from defined benefit to defined
 contribution which reduced the economic benefit that can be derived
 by the Company from the plan&amp;#x2019;s surplus. For the other funded
 pension plans, the present value of the economic benefits available
 in the form of reductions in future contributions to the plans
 remains greater than the surplus that is expected to develop.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(e) Disaggregation of defined benefit
 obligation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="37%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"&gt;&lt;b&gt;U.S. plans&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"&gt;&lt;b&gt;Canadian plans&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Active members&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;621&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;592&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;32&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;332&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;393&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;22&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Inactive and retired members&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,431&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,434&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;457&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;481&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,291&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,287&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;129&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;130&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,052&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,026&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;489&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;515&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,623&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,680&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;151&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;150&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(f) Fair value measurements&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The major categories of plan assets and the actual per cent
 allocation to each category are as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="38%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="16"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="16"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" nowrap="nowrap" align="center"&gt;&lt;b&gt;U.S. plans&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" nowrap="nowrap" align="center"&gt;&lt;b&gt;Canadian plans&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and cash equivalents&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;26&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;51&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;38&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;269&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;20%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,088&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;73%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;514&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;85%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,033&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;79%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other investments&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;252&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;0%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;2,866&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;610&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,324&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="38%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="13"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="16"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="16"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"&gt;&lt;b&gt;U.S. plans&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"&gt;&lt;b&gt;Canadian plans&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Retiree welfare
 plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and cash equivalents&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;33&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;33&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;695&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;45&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;212&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,979&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;67%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;502&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;85%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,165&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;84%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other investments&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;235&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;8%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;0%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,942&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;100%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;587&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;100%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,386&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;100%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;All the U.S. pension and retiree welfare plan assets
 have daily quoted prices in active markets, except for the private
 equity, timber and agriculture assets. In the aggregate, the latter
 assets represent approximately 7% of all U.S. pension and retiree
 welfare plan assets as at December&amp;#xA0;31, 2018 (2017 &amp;#x2013;
 6%).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;All the Canadian pension plan assets have daily quoted
 prices in active markets, except for the group annuity contract
 assets that represent approximately 0.2% of all Canadian pension
 plan assets as at December&amp;#xA0;31, 2018 (2017 &amp;#x2013; 0.3%).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Equity securities include direct investments in MFC
 common shares of $0.9 (2017 &amp;#x2013; $1.3) in the U.S. retiree
 welfare plan and $nil (2017 &amp;#x2013; $nil) in Canada.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other U.S. plan assets include investment in private
 equity, timberland and agriculture, and managed futures. Other
 Canadian pension plan assets include investment in the group
 annuity contract.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(g) Net benefit cost recognized in the
 Consolidated Statements of Income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Components of the net benefit cost for the pension plans and
 retiree welfare plans were as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="62%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Retiree welfare
 plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined benefit current service cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;42&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;48&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined benefit administrative expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Past service cost &amp;#x2013; plan amendments&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Past service cost &amp;#x2013; curtailments&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Service cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;66&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;53&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest on net defined benefit (asset) liability&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;18&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined benefit cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;78&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;71&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined contribution cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;78&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;75&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net benefit cost&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;156&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;146&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;17&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;6&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Past service cost &amp;#x2013; plan amendments includes $8,
 reflecting a surplus sharing agreement between the Company and
 certain legacy employees in Canada, which received regulatory
 approval in 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Past service cost &amp;#x2013; curtailments includes $22 in
 total, reflecting the cost of the voluntary exit and voluntary
 retirement programs described in section (a)&amp;#xA0;of this note.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(h)&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;Re-measurement&lt;/font&gt;&amp;#xA0;effects
 recognized in Other Comprehensive Income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="68%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Pension plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2" nowrap="nowrap" align="center"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Retiree welfare plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Actuarial gains (losses) on defined benefit obligations due to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
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 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Experience&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
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 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
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 &lt;td valign="bottom" align="right"&gt;9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Demographic assumption changes&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(35&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Economic assumption changes&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(214&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(41&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return on plan assets (excluding interest income)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(315&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;312&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(16&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
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 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;30&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Change in effect of asset limit&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&lt;/td&gt;
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 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;re-measurement&lt;/font&gt;&amp;#xA0;effects&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(109&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;83&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;48&lt;/b&gt;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(i) Assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The key assumptions used by the Company to determine the defined
 benefit obligation and net benefit cost for the defined benefit
 pension plans and retiree welfare plans were as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="40%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
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 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
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 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
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 &lt;td&gt;&lt;/td&gt;
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 &lt;td&gt;&lt;/td&gt;
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 &lt;td&gt;&lt;/td&gt;
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 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;U.S. Plans&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;Canadian Plans&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Pension plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Retiree welfare plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Pension plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Retiree welfare plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;To determine the defined benefit obligation at end of
 year&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Discount rate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4.3%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.6%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4.3%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.6%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.8%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.5%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.8%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.6%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Initial health care cost trend rate&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7.8%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8.5%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5.7%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5.9%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;To determine the defined benefit cost for the year&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Discount rate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.6%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.1%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.6%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.1%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.5%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.9%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.6%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.0%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Initial health care cost trend rate&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;n/a
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8.5%&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;8.8%
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;n/a
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5.9%&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;6.0%
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Inflation and salary increase assumptions are not
 shown as they do not materially affect obligations and cost.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The health care cost trend rate used to measure the
 U.S. based retiree welfare obligation was 7.8% grading to 5.0% for
 2030 and years thereafter (2017 &amp;#x2013; 8.5% grading to 5.0% for
 2032) and to measure the net benefit cost was 8.5% grading to 5.0%
 for 2032 and years thereafter (2017 &amp;#x2013; 8.8% grading to 5.0%
 for 2032). In Canada, the rate used to measure the retiree welfare
 obligation was 5.7% grading to 4.8% for 2026 and years thereafter
 (2017 &amp;#x2013; 5.9% grading to 4.8% for 2026) and to measure the net
 benefit cost was 5.9% grading to 4.8% for 2026 and years thereafter
 (2017 &amp;#x2013; 6.0% grading to 4.8% for 2026).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Assumptions regarding future mortality are based on published
 statistics and mortality tables. The current life expectancies
 underlying the values of the obligations in the defined benefit
 pension and retiree welfare plans are as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;U.S.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Life expectancy (in years) for those currently age 65&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Males&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;22.5&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23.6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Females&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24.0&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;25.5&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Life expectancy (in years) at age 65 for those currently age
 45&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Males&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24.1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24.6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Females&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;25.6&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;26.4&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(j) Sensitivity of assumptions on
 obligations&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Assumptions used can have a significant effect on the obligations
 reported for defined benefit pension and retiree welfare plans. The
 potential impact on the obligations arising from changes in the key
 assumptions is set out in the following table. The sensitivities
 assume all other assumptions are held constant. In actuality,
 inter-relationships with other assumptions may exist.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="73%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Pension&amp;#xA0;plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Retiree&amp;#xA0;welfare&amp;#xA0;plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Discount rate:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of a 1% increase&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(423&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(62&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of a 1% decrease&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;74&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Health care cost trend rate:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of a 1% increase&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of a 1% decrease&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Mortality rates&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of a 10% decrease&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;114&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;14&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;If the actuarial estimates of mortality are adjusted
 in the future to reflect unexpected decreases in mortality, the
 effect of a 10% decrease in mortality rates at each future age
 would be an increase in life expectancy at age 65 of 0.9 years for
 U.S. males and females and 0.8 years for Canadian males and
 females.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(k) Maturity profile&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The weighted average duration (in years) of the defined benefit
 obligations is as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="88%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Pension plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Retiree welfare plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S. plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8.8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9.5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9.0&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9.8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canadian plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;12.4&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;12.8
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;14.3&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;14.2
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(l) Cash flows &amp;#x2013;
 contributions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Total cash payments for all employee future benefits, comprised of
 cash contributed by the Company to funded defined benefit pension
 and retiree welfare plans, cash payments directly to beneficiaries
 in respect of unfunded pension and retiree welfare plans, and cash
 contributed to defined contribution pension plans, are as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="86%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Pension plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Retiree welfare plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined benefit plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;79&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;85&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined contribution plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;78&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;77&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;157&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;162
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;10&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;12
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s best estimate of expected cash payments for
 employee future benefits for the year ending December&amp;#xA0;31, 2019
 is $88 for defined benefit pension plans, $78 for defined
 contribution pension plans and $12 for retiree welfare plans.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfEmployeeBenefitsExplanatory>
  <ifrs-full:DisclosureOfGeographicalAreasExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E100C0F0-AA7C-4513-A10B-34D78E2AB606_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The results of the Company&amp;#x2019;s reporting segments differ from
 its geographic segments primarily due to the allocation of the
 Company&amp;#x2019;s Global WAM and Corporate and Other segments into
 the geographic segments to which its businesses relate.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;By geographic location&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 14pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="56%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at and for the year
 ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,010&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,561&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,342&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;439&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,352&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,175&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;452&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9,967&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(6,340&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net premium income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;18,185&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;9,013&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,625&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;439&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24,012&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;371&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,933&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,032&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;196&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,532&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,115&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,904&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,395&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,428&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;20,671&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14,850&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,802&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;649&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;38,972&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at and for the year
 ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,215&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,894&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,780&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;466&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24,355&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,568&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;443&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;844&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,855&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net premium income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,783&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,337&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,624&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;466&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;28,210&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,258&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,642&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,407&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;60&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,367&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,632&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,187&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,911&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;16&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;10,746&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;21,673&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;12,166&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;23,942&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;542&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;58,323&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;br class="Apple-interchange-newline" /&gt;&lt;/div&gt;</ifrs-full:DisclosureOfGeographicalAreasExplanatory>
  <ifrs-full:DisclosureOfInformationAboutCreditExposuresDesignatedAsMeasuredAtFairValueThroughProfitOrLossExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_0333BFD6-7F57-4253-80BC-D199BA917B47_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents details of the credit default swap
 protection sold by type of contract and external agency rating for
 the underlying reference security.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="74%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Notional&lt;br /&gt;
 amount&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 maturity&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;years)&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Single name CDSs&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&amp;#xA0;&lt;/sup&gt;&amp;#x2013;
 Corporate debt&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;25&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 A&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;447&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 BBB&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;180&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 Total single name CDSs&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;652&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total CDS protection sold&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;652&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="13"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Notional&lt;br /&gt;
 amount&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 maturity&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;years)&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Single name CDSs&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&amp;#xA0;&lt;/sup&gt;&amp;#x2013;
 Corporate debt&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 AAA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 AA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 A&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;408&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 BBB&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;150&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 Total single name CDSs&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&amp;#xA0;&amp;#xA0;606&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&amp;#xA0;&amp;#xA0;14&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;3&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total CDS protection sold&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&amp;#xA0;&amp;#xA0;606&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&amp;#xA0;&amp;#xA0;14&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;3&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&amp;#xA0;&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Notional amounts represent the maximum future payments
 the Company would have to pay its counterparties assuming a default
 of the underlying credit and zero recovery on the underlying issuer
 obligation.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&amp;#xA0;&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The weighted average maturity of the CDS is weighted
 based on notional amounts.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&amp;#xA0;&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Rating agency designations are based on S&amp;amp;P where
 available followed by Moody&amp;#x2019;s, DBRS, and Fitch. If no rating
 is available from a rating agency, an internally developed rating
 is used.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfInformationAboutCreditExposuresDesignatedAsMeasuredAtFairValueThroughProfitOrLossExplanatory>
  <ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_4B78738A-BAAC-40F8-A1BA-85F76038D22E_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 6&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Goodwill and
 Intangible Assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Carrying amounts of goodwill and
 intangible assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="54%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Additions/&lt;br /&gt;
 disposals&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Amortization&lt;br /&gt;
 expense&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Effect&amp;#xA0;of&amp;#xA0;changes&lt;br /&gt;
 in foreign&lt;br /&gt;
 exchange rates&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Goodwill&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,713&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(65&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;216&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,864&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Indefinite life intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Brand&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;753&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;66&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;819&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Fund management contracts and other&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;755&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;40&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;798&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,508&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;106&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,617&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Finite life intangible assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Distribution networks&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;989&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(133&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;48&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;60&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;868&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Customer relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;899&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;55&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;860&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Software&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;661&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;275&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;147&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;32&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;821&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;70&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;67&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,619&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;142&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;255&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;110&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,616&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,127&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;145&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;255&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;216&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,233&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total goodwill and intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9,840&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;80&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;255&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;432&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;10,097&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Additions/&lt;br /&gt;
 disposals&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Amortization&lt;br /&gt;
 expense&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Effect of changes&lt;br /&gt;
 in foreign&lt;br /&gt;
 exchange rates&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Goodwill&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,884&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(171&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,713&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Indefinite life intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Brand&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;805&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(52&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;753&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Fund management contracts and other&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;785&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(30&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;755&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,590&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(82&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,508&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Finite life intangible assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Distribution networks&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,093&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(57&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;989&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Customer relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;969&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;56&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;899&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Software&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;494&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;303&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;121&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;661&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;77&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;70&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,633&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;303&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;229&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(88&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,619&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,223&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;303&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;229&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(170&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,127&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total goodwill and intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;10,107&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;303&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;229&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(341&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;9,840&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;For fund management contracts, the significant CGUs to
 which these were allocated and their associated carrying values
 were U.S. WAM with $400 (2017 &amp;#x2013; $367) and Canada WAM with
 $273 (2017 &amp;#x2013; $273).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Gross carrying amount of finite life intangible assets
 was $1,331 for distribution networks, $1,145 for customer
 relationships, $2,110 for software and $133 for other (2017 &amp;#x2013;
 $1,294, $1,128, $1,841 and $126, respectively).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2018, disposals include $65 of goodwill and $96 of
 distribution networks from the sale of the U.S. broker-dealer
 business, and impairments of distribution networks for discontinued
 products of $27 in U.S. segment and $13 in Asia segment.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Goodwill impairment
 testing&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In the fourth quarter of 2018, the Company completed its annual
 goodwill impairment testing by determining the recoverable amounts
 of its businesses using valuation techniques discussed below or
 based on the most recent detailed similar calculations made in a
 prior period (refer to notes 1(f) and 6(c)). The Company has
 determined that there was no impairment of goodwill in 2018 and
 2017.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company made organizational
 changes to drive better alignment with strategic priorities and
 increase focus and leverage scale in its wealth management
 business. As a result of this reorganization, which included
 recognition of the Company&amp;#x2019;s wealth and asset management
 businesses (Global WAM) as a primary reporting segment
 (note&amp;#xA0;19), the Company has modified the level at which
 goodwill is tested for impairment purposes. The modification
 includes (a) the allocation of existing goodwill to the relevant
 CGUs or group of CGUs within the Global WAM segment that had
 previously been combined within respective regional insurance
 businesses and (b) the amalgamation of the remaining Canadian-based
 goodwill (including Individual Life, Affinity Markets, Individual
 Annuities, Group Benefits and International Group Program) under
 the Canadian Insurance reporting segment. These
 reorganization-based changes have resulted in goodwill being
 allocated to CGUs or groups of CGUs based on the lowest level
 within the Company in which goodwill is monitored for internal
 management purposes. The prior period amounts have been restated to
 reflect the reorganized CGUs.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following tables present the carrying value of goodwill by CGU
 or group of CGUs.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="65%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 CGU or group of CGUs&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Additions/&lt;br /&gt;
 disposals&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Effect&amp;#xA0;of&lt;br /&gt;
 changes in&lt;br /&gt;
 foreign&lt;br /&gt;
 exchange&lt;br /&gt;
 rates&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asia&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Asia Insurance (excluding Japan)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;154&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;165&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Japan Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;391&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;44&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;435&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canada Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,954&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,962&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S. Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;400&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(65&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;32&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;367&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Global Wealth and Asset Managment&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Asia WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;180&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;196&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canada WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,436&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,436&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,198&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;105&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,303&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,713&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(65&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;216&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,864&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 CGU or group of CGUs&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Additions/&lt;br /&gt;
 disposals&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Effect of&lt;br /&gt;
 changes&amp;#xA0;in&lt;br /&gt;
 foreign&lt;br /&gt;
 exchange&lt;br /&gt;
 rates&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asia&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Asia Insurance (excluding Japan)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;160&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;154&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Japan Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;403&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;391&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canada Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,960&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,954&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S. Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;428&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(28&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;400&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Global Wealth and Asset Managment&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Asia WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;180&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canada WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,436&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,436&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,303&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(105&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,198&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;5,884&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(171&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;5,713&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The valuation techniques, significant assumptions and
 sensitivities, where applicable, applied in the goodwill impairment
 testing are described below.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Valuation techniques&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The recoverable amounts were based on fair value less costs to sell
 (&amp;#x201C;FVLCS&amp;#x201D;) for Asia Insurance (excluding Japan), Asia
 WAM and for certain CGUs within Canada Insurance and U.S. WAM CGU
 groups. For other CGUs,&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;value-in-use&lt;/font&gt;&lt;/font&gt;&amp;#xA0;(&amp;#x201C;VIU&amp;#x201D;)
 was used. When determining if a CGU is impaired, the Company
 compares its recoverable amount to the allocated capital for that
 unit, which is aligned with the Company&amp;#x2019;s internal reporting
 practices.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Under the FVLCS approach, the Company determines the fair value of
 the CGU or group of CGUs using an earnings-based approach which
 incorporates forecasted earnings, excluding interest and equity
 market impacts and normalized new business expenses multiplied by
 an earnings-multiple derived from the
 observable&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;price-to-earnings&lt;/font&gt;&lt;/font&gt;&amp;#xA0;multiples
 of comparable financial institutions.
 The&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;price-to-earnings&lt;/font&gt;&lt;/font&gt;&amp;#xA0;multiples
 used by the Company for testing ranged from 9.0 to 11.7 (2017
 &amp;#x2013; 10.6 to 14.8).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Under the VIU approach, used for CGUs with insurance business, an
 embedded appraisal value is determined from a projection of future
 distributable earnings derived from both
 the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;business
 and new business expected to be sold in the future, and therefore,
 reflects the economic value for each CGU&amp;#x2019;s or group of
 CGUs&amp;#x2019; profit potential under a set of assumptions. This
 approach requires assumptions including sales and revenue growth
 rates, capital requirements, interest rates, equity returns,
 mortality, morbidity, policyholder behaviour, tax rates and
 discount rates. For&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-insurance&lt;/font&gt;&amp;#xA0;CGUs,
 the VIU is based on discounted cash flow analysis which
 incorporates relevant aspects of the embedded appraisal value
 approach.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Significant assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 To calculate embedded value, the Company discounted projected
 earnings from&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;contracts
 and valued 10 years of new business growing at expected plan
 levels, consistent with the periods used for forecasting long-term
 businesses such as insurance. In&amp;#xA0;arriving at its projections,
 the Company considered past-experience, economic trends such as
 interest rates, equity returns and product mix as well as industry
 and market trends. Where growth rate assumptions for new business
 cash flows were used in the embedded value calculations, they
 ranged from zero per cent to 17&amp;#xA0;per cent (2017 &amp;#x2013;
 negative five per cent to 17 per cent).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Interest rate assumptions are based on prevailing market rates at
 the valuation date.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Tax rates applied to the projections include the impact of internal
 reinsurance treaties and amounted to 30.8 per cent, 26.8 per cent
 and 21 per cent (2017 &amp;#x2013; 30.8 per cent, 26.8&amp;#xA0;per cent and
 35 per cent) for the Japan, Canadian and U.S. jurisdictions,
 respectively. Tax assumptions are sensitive to changes in tax laws
 as well as assumptions about the jurisdictions in which profits are
 earned. It is possible that actual tax rates could differ from
 those assumed.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Discount rates assumed in determining
 the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;value-in-use&lt;/font&gt;&lt;/font&gt;&amp;#xA0;for
 applicable CGUs or groups of CGUs ranged from 7.5&amp;#xA0;per cent to
 14.2&amp;#xA0;per cent on an&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;after-tax&lt;/font&gt;&amp;#xA0;basis or
 10.2&amp;#xA0;per cent to 20.4 per cent on
 a&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pre-tax&lt;/font&gt;&amp;#xA0;basis (2017
 &amp;#x2013; 9.2 per cent to 14.2&amp;#xA0;per cent on
 an&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;after-tax&lt;/font&gt;&amp;#xA0;basis or
 11.3&amp;#xA0;per cent to 20.4&amp;#xA0;per cent on
 a&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pre-tax&lt;/font&gt;&amp;#xA0;basis).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The key assumptions described above may change as economic and
 market conditions change, which may lead to impairment charges in
 the future. Changes in discount rates and cash flow projections
 used in the determination of embedded values or reductions in
 market-based earnings multiples may result in impairment charges in
 the future which could be material.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory>
  <ifrs-full:DisclosureOfNetGrossAndReinsurersShareForAmountsArisingFromInsuranceContractsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_F091104C-2476-4ED1-A953-08580EB8E5E5_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The geographic concentration of the Company&amp;#x2019;s insurance and
 investment contract liabilities, including embedded derivatives, is
 shown below. The disclosure is based on the countries in which the
 business is written.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="69%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Gross&amp;#xA0;liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Reinsurance&lt;br /&gt;
 assets&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net&amp;#xA0;liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 U.S. and Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;246,255&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;(42,634&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;203,621&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 Asia and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;85,830&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;(419&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;85,411&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;332,085&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(43,053&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;289,032&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Gross liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Reinsurance&lt;br /&gt;
 assets&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 U.S. and Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;237,434&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;(30,225&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;207,209&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 Asia and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;70,521&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;(134&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;70,387&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;307,955&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;(30,359&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;277,596&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfNetGrossAndReinsurersShareForAmountsArisingFromInsuranceContractsExplanatory>
  <ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_21639FF9-11C6-408B-BF6F-387E0A7F2282_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 2&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Accounting
 and Reporting Changes&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Changes in accounting
 policy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(I) IFRS 15 &amp;#x201C;Revenue from Contracts
 with Customers&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company adopted IFRS 15
 &amp;#x201C;Revenue from Contracts with Customers&amp;#x201D; which was
 issued In May 2014, and replaces IAS 11 &amp;#x201C;Construction
 Contracts,&amp;#x201D; IAS 18 &amp;#x201C;Revenue&amp;#x201D; and several
 interpretations. Amendments to IFRS 15 were issued in April 2016.
 IFRS 15 clarifies revenue recognition principles, provides a robust
 framework for recognizing revenue and cash flows arising from
 contracts with customers and enhances qualitative and quantitative
 disclosure requirements. IFRS 15 does not apply to insurance
 contracts, financial instruments and lease contracts. The Company
 adopted IFRS 15 using the modified retrospective method with no
 restatement of comparative information.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s service arrangements are generally satisfied
 over time, with revenue measured and collected from customers
 within a short term, as services are rendered.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Adoption of IFRS 15 did not have a significant impact or result in
 transitional adjustments on the Company&amp;#x2019;s Consolidated
 Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(II) IFRS 9 &amp;#x201C;Financial
 Instruments&amp;#x201D; and Amendments to IFRS 4 &amp;#x201C;Insurance
 Contracts&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company adopted the amendments
 to IFRS 4 &amp;#x201C;Insurance Contracts&amp;#x201D; issued in September
 2016. IFRS 9 &amp;#x201C;Financial Instruments&amp;#x201D; replaced IAS 39
 &amp;#x201C;Financial Instruments: Recognition and Measurement&amp;#x201D;
 and resulted in revisions to classification and measurement,
 impairment of financial assets, and hedge accounting.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 To address concerns about differing effective dates of IFRS 9
 &amp;#x201C;Financial Instruments&amp;#x201D; which is effective on
 January&amp;#xA0;1, 2018 and IFRS 17 &amp;#x201C;Insurance Contracts&amp;#x201D;
 which is effective on January&amp;#xA0;1, 2021, amendments to IFRS 4
 &amp;#x201C;Insurance Contracts&amp;#x201D; provides companies whose
 activities are predominantly related to insurance an optional
 temporary exemption from applying IFRS 9 until January&amp;#xA0;1,
 2021. Adoption of these amendments enabled the Company to defer the
 adoption of IFRS 9 and continue to apply IAS 39 until
 January&amp;#xA0;1,&amp;#xA0;2021.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In November 2018, the IASB tentatively decided to defer the fixed
 expiry date for the temporary exemption in IFRS 4 from applying
 IFRS 9 by one year for companies whose activities are predominantly
 related to insurance. MFC&amp;#x2019;s activities are predominantly
 related to insurance. The proposed deferral is subject to IASB
 public consultation in 2019 which is expected to result in an
 exposure draft followed by a public comment period. The Company
 will continue to monitor IASB&amp;#x2019;s future developments related
 to the deferral.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In order to compare with entities applying IFRS 9, the amendments
 to IFRS 4 require deferring entities to disclose additional
 information regarding the contractual cashflows characteristics and
 credit exposure of their financial statements. Deferring entities
 must disclose which financial assets have contractual terms that
 are solely payments of principal and interest on principal
 outstanding (&amp;#x201C;SPPI&amp;#x201D;). Adoption of these disclosure
 requirements did not have a significant impact on the
 Company&amp;#x2019;s Consolidated Financial Statements. Refer to
 note&amp;#xA0;3(a).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(III) Amendments to IFRS 2
 &amp;#x201C;Share-Based Payment&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company adopted amendments to
 IFRS 2 &amp;#x201C;Share-Based Payment&amp;#x201D;, issued in June 2016.
 These amendments were applied prospectively. The amendments clarify
 the effects of vesting and&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-vesting&lt;/font&gt;&amp;#xA0;conditions
 on the measurement of cash-settled share-based payments; provide
 guidance on the classification of share-based payment transactions
 with net settlement features for withholding tax obligations; and
 clarify accounting for modification to the terms and conditions of
 a share-based payment that changes the classification of the
 transaction from cash-settled to equity-settled. Adoption of these
 amendments did not have a significant impact on the Company&amp;#x2019;s
 Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(IV) IFRIC 22 &amp;#x201C;Foreign Currency
 Transactions and Advance Consideration&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company adopted IFRIC 22
 &amp;#x201C;Foreign Currency Transactions and Advance
 Consideration&amp;#x201D;, issued in December 2016. IFRIC 22 was applied
 prospectively. IFRIC 22 addresses which foreign exchange rate to
 use to measure a foreign currency transaction when advance payments
 are made or received and&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-monetary&lt;/font&gt;&amp;#xA0;assets
 or liabilities are recognized prior to recognition of the
 underlying transaction. IFRIC 22 does not relate to goods or
 services accounted for at fair value or at the fair value of
 consideration paid or received at a date other than the date of
 initial recognition of the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-monetary&lt;/font&gt;&amp;#xA0;asset
 or liability, or to income taxes, insurance contracts or
 reinsurance contracts. The foreign exchange rate on the day of the
 advance payment is used to measure the foreign currency
 transaction. If multiple advance payments are made or received,
 each payment is measured separately. Adoption of IFRIC 22 did not
 have a significant impact on the Company&amp;#x2019;s Consolidated
 Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(V) Annual improvements to IFRS Standards
 2014-2016 Cycle&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company adopted amendments
 issued within the Annual Improvements to IFRS Standards 2014-2016
 Cycle, as issued by the IASB in December 2016. Minor amendments as
 part of this cycle were effective in 2017 and were adopted by the
 Company in that year, with remaining amendments being effective
 January&amp;#xA0;1, 2018. The amendments were applied retrospectively.
 Adoption of these amendments did not have a significant impact on
 the Company&amp;#x2019;s Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Future accounting and reporting
 changes&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(I) IFRS 9 &amp;#x201C;Financial
 Instruments&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRS 9 &amp;#x201C;Financial Instruments&amp;#x201D; was issued in November
 2009 and amended in October 2010, November 2013 and July 2014, and
 is effective for years beginning on or after January&amp;#xA0;1, 2018,
 to be applied retrospectively, or on a modified retrospective
 basis. Additionally, the IASB issued amendments in October 2017
 that are effective for annual periods beginning on or after
 January&amp;#xA0;1, 2019. The standard is intended to replace IAS 39
 &amp;#x201C;Financial Instruments: Recognition and
 Measurement&amp;#x201D;.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The project has been divided into three phases: classification and
 measurement, impairment of financial assets, and hedge accounting.
 IFRS 9&amp;#x2019;s current classification and measurement methodology
 provides that financial assets are measured at either amortized
 cost or fair value on the basis of the entity&amp;#x2019;s business
 model for managing the financial assets and the contractual cash
 flow characteristics of the financial assets. The classification
 and measurement for financial liabilities remains generally
 unchanged; however, for a financial liability designated as at fair
 value through profit or loss, revisions have been made in the
 accounting for changes in fair value attributable to changes in the
 credit risk of that liability. Gains or losses caused by changes in
 an entity&amp;#x2019;s own credit risk on such liabilities are no longer
 recognized in profit or loss but instead are reflected in OCI.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Revisions to hedge accounting were issued in November 2013 as part
 of the overall IFRS 9 project. The amendment introduces a new hedge
 accounting model, together with corresponding disclosures about
 risk management activity for those applying hedge accounting. The
 new model represents a substantial overhaul of hedge accounting
 that will enable entities to better reflect their risk management
 activities in their financial statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Revisions issued in July 2014 replace the existing incurred loss
 model used for measuring the allowance for credit losses with an
 expected loss model. Changes were also made to the existing
 classification and measurement model designed primarily to address
 specific application issues raised by early adopters of the
 standard. They also address the income statement accounting
 mismatches and short-term volatility issues which have been
 identified as a result of the insurance contracts project.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company elected to defer IFRS 9 until January&amp;#xA0;1, 2021 as
 allowed under the amendments to IFRS 4 &amp;#x201C;Insurance
 Contracts&amp;#x201D; outlined above. The Company is assessing the
 impact of this standard.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(II) IFRS 16
 &amp;#x201C;Leases&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRS 16 &amp;#x201C;Leases&amp;#x201D; was issued in January 2016 and is
 effective for years beginning on or after January&amp;#xA0;1, 2019. It
 will replace IAS 17 &amp;#x201C;Leases&amp;#x201D; and IFRIC 4
 &amp;#x201C;Determining whether an arrangement contains a lease&amp;#x201D;.
 The Company will adopt IFRS 16 effective January&amp;#xA0;1,&amp;#xA0;2019,
 on a modified retrospective basis with no restatement of
 comparative information.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRS 16 sets out the principles for the recognition, measurement,
 presentation and disclosure of leases for both parties to a
 contract. The standard brings most
 leases&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;on-balance&lt;/font&gt;&amp;#xA0;sheet for
 lessees under a single model, eliminating the previous
 classifications of operating and finance leases. Exemptions to this
 treatment are for lease contracts with low value assets or leases
 with duration of less than one year.
 The&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;on-balance&lt;/font&gt;&amp;#xA0;sheet
 treatment will result in a grossing up of the balance sheet due
 to&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;right-of-use&lt;/font&gt;&lt;/font&gt;&amp;#xA0;assets
 being recognized with offsetting liabilities. Lessor accounting
 will remain largely unchanged with previous classifications of
 operating and finance leases being maintained.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Adoption of IFRS 16 is not expected to have a significant impact on
 the Company&amp;#x2019;s Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(III) IFRS Interpretation Committee
 (&amp;#x201C;IFRIC&amp;#x201D;) Interpretation 23 &amp;#x201C;Uncertainty over
 Income Tax Treatments&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRIC 23 &amp;#x201C;Uncertainty over Income Tax Treatments&amp;#x201D; was
 issued in June 2017 and is effective for years beginning on or
 after January&amp;#xA0;1,&amp;#xA0;2019, to be applied retrospectively.
 IFRIC 23 provides guidance on applying the recognition and
 measurement requirements in IAS 12 when there is uncertainty over
 income tax treatments including whether uncertain tax treatments
 should be considered together or separately based on which approach
 better predicts resolution of the uncertainty. Adoption of IFRIC 23
 is not expected to have a significant impact on the Company&amp;#x2019;s
 Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(IV) Amendments to IAS 28
 &amp;#x201C;Investments in Associates and Joint
 Ventures&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Amendments to IAS 28 &amp;#x201C;Investments in Associates and Joint
 Ventures&amp;#x201D; were issued in October 2017 and are effective for
 annual periods beginning on or after January&amp;#xA0;1, 2019, to be
 applied retrospectively. The amendments clarify that an entity
 applies IFRS 9 &amp;#x201C;Financial Instruments&amp;#x201D; to financial
 interests in an associate or joint venture to which the equity
 method is not applied. IAS 39 will be applied to these interests
 until IFRS 9 is adopted. Adoption of these amendments is not
 expected to have a significant impact on the Company&amp;#x2019;s
 Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(V) Annual Improvements 2015&amp;#x2013;2017
 Cycle&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Annual Improvements 2015 &amp;#x2013; 2017 Cycle was issued in December
 2017 and is effective for years beginning on or after
 January&amp;#xA0;1,&amp;#xA0;2019. The IASB issued three minor amendments
 to different standards as part of the Annual Improvements process,
 with the amendments to be applied prospectively. Adoption of these
 amendments is not expected to have significant impact on the
 Company&amp;#x2019;s Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(VI) Amendments to IAS 19 &amp;#x201C;Employee
 Benefits&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Amendments to IAS 19 &amp;#x201C;Employee Benefits&amp;#x201D; were issued in
 February 2018 and are effective for annual periods beginning on or
 after January&amp;#xA0;1, 2019, with earlier application permitted. The
 amendments address the accounting for a plan amendment, curtailment
 or settlement that occurs within a reporting period. Updated
 actuarial assumptions must be used to determine current service
 cost and net interest for the remainder of the reporting period
 after such an event.&amp;#xA0;The amendments also address how the
 accounting for asset ceilings are affected by such an
 event.&amp;#xA0;Adoption of these amendments is not expected to have a
 significant impact on the Company&amp;#x2019;s Consolidated Financial
 Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(VII) Amendments to IFRS 3 &amp;#x201C;Business
 Combinations&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Amendments to IFRS 3 &amp;#x201C;Business Combinations&amp;#x201D; were
 issued in October 2018 and are effective for business combinations
 occurring on or after January&amp;#xA0;1, 2020, with earlier
 application permitted. The amendments revise the definition of a
 business and provide a simplified assessment of whether an acquired
 set of activities and assets qualifies as a business. Application
 of the amendments are expected to result in fewer acquisitions
 qualifying as business combinations. Adoption of these amendments
 is not expected to have a significant impact on the Company&amp;#x2019;s
 Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(VIII) Amendments to IAS 1
 &amp;#x201C;Presentation of Financial Statements&amp;#x201D; and IAS 8
 &amp;#x201C;Accounting Policies, Changes in Accounting Estimates and
 Errors&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Amendments to IAS 1 &amp;#x201C;Presentation of Financial
 Statements&amp;#x201D; and IAS 8 &amp;#x201C;Accounting Policies, Changes in
 Accounting Estimates and Errors&amp;#x201D; were issued in October 2018.
 The amendments are effective for annual periods beginning on or
 after January&amp;#xA0;1, 2020 and are to be applied prospectively. The
 amendments update the definition of material. Adoption of these
 amendments is not expected to have a significant impact on the
 Company&amp;#x2019;s Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(IX) IFRS 17 &amp;#x201C;Insurance
 Contracts&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRS 17 was issued in May 2017 and is effective for years beginning
 on January&amp;#xA0;1, 2021, to be applied retrospectively. If full
 retrospective application to a group of contracts is impractical,
 the modified retrospective or fair value methods may be used. The
 standard will replace IFRS 4 &amp;#x201C;Insurance Contracts&amp;#x201D; and
 will materially change the recognition and measurement of insurance
 contracts and the corresponding presentation and disclosures in the
 Company&amp;#x2019;s Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In November 2018, the IASB tentatively decided to defer the
 effective date of IFRS 17 by one year. The proposed deferral is
 subject to IASB public consultation in 2019 which is expected to
 result in an exposure draft followed by a public comment period.
 The Company will continue to monitor IASB&amp;#x2019;s future
 developments related to IFRS 17.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRS 17 requires entities to measure insurance contract liabilities
 on the balance sheet as the total of (a)&amp;#xA0;the fulfillment cash
 flows &amp;#x2013; the current estimates of amounts that the Company
 expects to collect from premiums and pay out for claims, benefits
 and expenses, including an adjustment for the timing and risk for
 those amounts; and (b)&amp;#xA0;the contractual service margin &amp;#x2013;
 the future profit for providing insurance coverage.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The principles underlying IFRS 17 differ from the CALM as permitted
 by IFRS&amp;#xA0;4.&amp;#xA0;While there are many differences, the
 following outlines two of the key differences:&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Under IFRS 17 the discount rate used to estimate the
 present value of insurance liabilities is based on the
 characteristics of the liability, whereas under CALM, the Company
 uses the rates of returns for current and projected assets
 supporting policy liabilities to value the liabilities. The
 difference in the discount rate approach also impacts the timing of
 investment-related experience earnings emergence. Under CALM,
 investment-related experience includes investment experience and
 the impact of investing activities. The impact of investing
 activities is directly related to the CALM methodology. Under IFRS
 17 the impact of investing activities will emerge over the life of
 the new asset.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Under IFRS 17 new business gains are recorded on the
 Consolidated Statements of Financial Position and amortized into
 income as services are provided.&amp;#xA0;Under CALM new business gains
 (and losses) are recognized in income immediately.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company is assessing the implications of this standard and
 expects that it will have a significant impact on the
 Company&amp;#x2019;s Consolidated Financial Statements. In addition, in
 certain jurisdictions, including Canada, it could have a material
 effect on tax and regulatory capital positions and other financial
 metrics that are dependent upon IFRS accounting values.&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory>
  <ifrs-full:DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_CF813848-CE95-4793-8591-681DCE594149_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 23&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;
 Information Provided in Connection with Investments in Deferred
 Annuity Contracts and&lt;/b&gt; &lt;b&gt;&lt;i&gt;Signature&lt;/i&gt;&lt;/b&gt;&lt;b&gt;Notes Issued or
 Assumed by John Hancock Life Insurance Company
 (U.S.A.)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following condensed consolidated financial information,
 presented in accordance with IFRS, and the related disclosure have
 been included in these Consolidated Financial Statements with
 respect to JHUSA in compliance with Regulation &lt;font style="WHITE-SPACE: nowrap"&gt;S-X&lt;/font&gt; and Rule &lt;font style="WHITE-SPACE: nowrap"&gt;12h-5&lt;/font&gt; of the United States Securities
 and Exchange Commission (the &amp;#x201C;Commission&amp;#x201D;). These
 financial statements are incorporated by reference in the MFC and
 its subsidiaries registration statements that are described below
 and which relate to MFC&amp;#x2019;s guarantee of certain securities to
 be issued by its subsidiaries.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 JHUSA maintains a book of deferred annuity contracts that feature a
 market value adjustment, some of which are registered with the
 Commission. The deferred annuity contracts may contain variable
 investment options along with fixed investment period options, or
 may offer only fixed investment period options. The fixed
 investment period options enable the participant to invest fixed
 amounts of money for fixed terms at fixed interest rates, subject
 to a market value adjustment if the participant desires to
 terminate a fixed investment period before its maturity date. The
 annuity contract provides for the market value adjustment to keep
 the parties whole with respect to the fixed interest bargain for
 the entire fixed investment period. These fixed investment period
 options that contain a market value adjustment feature are referred
 to as &amp;#x201C;MVAs&amp;#x201D;.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 JHUSA may also sell medium-term notes to retail investors under its
 &lt;i&gt;Signature&lt;/i&gt;Notes program.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Effective December&amp;#xA0;31, 2009, John Hancock Variable Life
 Insurance Company (the &amp;#x201C;Variable Company&amp;#x201D;) and John
 Hancock Life Insurance Company (the &amp;#x201C;Life Company&amp;#x201D;)
 merged with and into JHUSA. In connection with the mergers, JHUSA
 assumed the Variable Company&amp;#x2019;s rights and obligations with
 respect to the MVAs issued by the Variable Company and the Life
 Company&amp;#x2019;s rights and obligations with respect to the
 &lt;i&gt;Signature&lt;/i&gt;Notes issued by the Life Company.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 MFC fully and unconditionally guaranteed the payment of
 JHUSA&amp;#x2019;s obligations under the MVAs and under the
 &lt;i&gt;Signature&lt;/i&gt;Notes (including the MVAs and &lt;i&gt;Signature&lt;/i&gt;Notes
 assumed by JHUSA in the merger), and such MVAs and the
 &lt;i&gt;Signature&lt;/i&gt;Notes were registered with the Commission. The
 &lt;i&gt;Signature&lt;/i&gt;Notes and MVAs assumed or issued by JHUSA are
 collectively referred to in this note as the &amp;#x201C;Guaranteed
 Securities&amp;#x201D;. JHUSA is, and each of the Variable Company and
 the Life Company was, a wholly owned subsidiary of MFC.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 MFC&amp;#x2019;s guarantees of the Guaranteed Securities are unsecured
 obligations of MFC and are subordinated in right of payment to the
 prior payment in full of all other obligations of MFC, except for
 other guarantees or obligations of MFC which by their terms are
 designated as ranking equally in right of payment with or
 subordinate to MFC&amp;#x2019;s guarantees of the Guaranteed
 Securities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The laws of the State of New York govern MFC&amp;#x2019;s guarantees of
 the &lt;i&gt;Signature&lt;/i&gt;Notes issued or assumed by JHUSA and the laws
 of the Commonwealth of Massachusetts govern MFC&amp;#x2019;s guarantees
 of the MVAs issued or assumed by JHUSA. MFC has consented to the
 jurisdiction of the courts of New York and Massachusetts. However,
 because a substantial portion of MFC&amp;#x2019;s assets are located
 outside the United States, the assets of MFC located in the United
 States may not be sufficient to satisfy a judgment given by a
 federal or state court in the United States to enforce the
 subordinate guarantees. In general, the federal laws of Canada and
 the laws of the Province of Ontario, where MFC&amp;#x2019;s principal
 executive offices are located, permit an action to be brought in
 Ontario to enforce such a judgment provided that such judgment is
 subsisting and unsatisfied for a fixed sum of money and not void or
 voidable in the United States and a Canadian court will render a
 judgment against MFC in a certain dollar amount, expressed in
 Canadian dollars, subject to customary qualifications regarding
 fraud, violations of public policy, laws limiting the enforcement
 of creditor&amp;#x2019;s rights and applicable statutes of limitations
 on judgments. There is currently no public policy in effect in the
 Province of Ontario that would support avoiding the recognition and
 enforcement in Ontario of a judgment of a New York or Massachusetts
 court on MFC&amp;#x2019;s guarantees of the &lt;i&gt;Signature&lt;/i&gt;Notes issued
 or assumed by JHUSA or a Massachusetts court on guarantees of the
 MVAs issued or assumed by JHUSA.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 MFC is a holding company. MFC&amp;#x2019;s assets primarily consist of
 investments in its subsidiaries. MFC&amp;#x2019;s cash flows primarily
 consist of dividends and interest payments from its operating
 subsidiaries, offset by expenses and shareholder dividends and MFC
 stock repurchases. As a holding company, MFC&amp;#x2019;s ability to
 meet its cash requirements, including, but not limited to, paying
 any amounts due under its guarantees, substantially depends upon
 dividends from its operating subsidiaries.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 These subsidiaries are subject to certain regulatory restrictions
 under laws in Canada, the United States and certain other
 countries, which may limit their ability to pay dividends or make
 contributions or loans to MFC. For example, some of MFC&amp;#x2019;s
 subsidiaries are subject to restrictions prescribed by the ICA on
 their ability to declare and pay dividends. The restrictions
 related to dividends imposed by the ICA are described in note
 13.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 In the United States, insurance laws in Michigan, New York, and
 Massachusetts, the jurisdictions in which certain of MFC&amp;#x2019;s
 U.S. insurance company subsidiaries are domiciled, impose general
 limitations on the payment of dividends and other upstream
 distributions or loans by these insurance subsidiaries. These
 limitations are described in note 13.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 In Asia, the insurance laws of the jurisdictions in which MFC
 operates either provide for specific restrictions on the payment of
 dividends or other distributions or loans by subsidiaries or impose
 solvency or other financial tests, which could affect the ability
 of subsidiaries to pay dividends in certain circumstances.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 There can be no assurance that any current or future regulatory
 restrictions in Canada, the United States or Asia will not impair
 MFC&amp;#x2019;s ability to meet its cash requirements, including, but
 not limited to, paying any amounts due under its guarantee.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following condensed consolidated financial information,
 presented in accordance with IFRS, reflects the effects of the
 mergers and is provided in compliance with Regulation &lt;font style="WHITE-SPACE: nowrap"&gt;S-X&lt;/font&gt; and in accordance with Rule
 &lt;font style="WHITE-SPACE: nowrap"&gt;12h-5&lt;/font&gt; of the
 Commission.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statement of
 Financial Position&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="54%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;JHUSA&lt;br /&gt;
 (Issuer)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Other&lt;br /&gt;
 subsidiaries&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Consolidated&lt;br /&gt;
 MFC&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;105,043&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;248,962&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(362&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;353,664&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investments in unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;54,015&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,356&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,738&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(79,109&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reinsurance assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;63,435&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;9,136&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(29,518&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;43,053&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;331&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,025&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;43,213&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(20,224&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;40,345&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;168,476&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;146,671&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,938&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;54,367&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;361,335&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;465,720&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(131,151&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;750,271&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Liabilities and equity&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;155,162&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;203,682&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(30,190&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,191&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,076&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,265&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;275&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;18,136&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;46,072&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(19,992&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;44,491&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,769&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,769&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,359&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;632&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,741&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;168,476&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;146,671&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,938&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Shareholders&amp;#x2019; equity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;45,964&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,738&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;61,291&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(79,029&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;45,964&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Participating policyholders&amp;#x2019; equity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;94&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;94&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;
 interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,093&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,093&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total liabilities and equity&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;54,367&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;361,335&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;465,720&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(131,151&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;750,271&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statement of
 Financial Position&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="54%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;JHUSA&lt;br /&gt;
 (Issuer)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Other&lt;br /&gt;
 subsidiaries&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Consolidated&lt;br /&gt;
 MFC&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;108,144&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;226,421&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(364&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;334,222&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investments in unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;48,374&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,509&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,999&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(69,882&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reinsurance assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;49,927&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,281&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(27,849&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;30,359&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;314&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,678&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40,715&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(19,062&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40,645&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;176,139&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;149,812&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(1,644&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;48,709&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;359,397&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;440,228&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(118,801&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;729,533&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Liabilities and equity&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;147,155&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;185,884&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(28,434&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;304,605&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,130&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,998&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,126&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;297&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,399&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;41,395&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(18,930&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;42,161&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,784&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,784&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,615&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;584&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,188&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,387&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;176,139&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;149,812&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,644&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Shareholders&amp;#x2019; equity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;41,013&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,990&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;54,801&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(69,791&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;41,013&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Participating policyholders&amp;#x2019; equity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;221&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;221&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;
 interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;929&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;929&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total liabilities and equity&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;48,709&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;359,397&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;440,228&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(118,801&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;729,533&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statement of
 Income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;JHUSA&lt;br /&gt;
 (Issuer)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Other&lt;br /&gt;
 subsidiaries&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Consolidated&lt;br /&gt;
 MFC&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gross premiums&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,452&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;31,814&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,116&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;39,150&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Premiums ceded to reinsurers&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(14,149&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,105&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,116&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(15,138&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net premium income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(5,697&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;29,709&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24,012&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;907&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,126&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(946&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,532&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,799&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9,820&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,189&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,428&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;443&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,991&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;43,655&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,135&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;38,972&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net benefits and claims&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(7,403&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;22,862&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;475&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Commissions, investment and general expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,427&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,052&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,660&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;15,838&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;380&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;233&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(950&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,681&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;399&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(3,743&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;38,932&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,135&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;33,453&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) before income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;44&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;752&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,723&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,519&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income tax (expense) recovery&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(11&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;223&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(844&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(632&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) after income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;33&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;975&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,879&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,887&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity in net income (loss) of unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,767&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,206&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,181&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8,154&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,181&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,060&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(8,154&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,887&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss) attributed to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;
 interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Participating policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(127&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(127&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Shareholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,191&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,973&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8,164&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,181&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,060&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8,154&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;4,887&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statement of
 Income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;JHUSA&lt;br /&gt;
 (Issuer)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Other&lt;br /&gt;
 subsidiaries&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Consolidated&lt;br /&gt;
 MFC&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gross premiums&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,561&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22,895&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,905&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;36,361&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Premiums ceded to reinsurers&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,523&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(5,765&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(4,909&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(8,151&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net premium income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,084&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,130&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;28,210&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;178&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,986&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,947&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(744&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,367&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,874&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10,864&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(2,996&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10,746&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;182&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;21,944&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;39,941&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(3,744&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;58,323&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net benefits and claims&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20,803&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,179&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(681&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39,301&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Commissions, investment and general expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,208&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,852&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,049&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,022&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;404&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,915&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(1,014&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,499&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;415&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;24,205&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;34,946&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(3,744&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;55,822&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) before income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(233&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,261&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,995&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,501&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income tax (expense) recovery&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;62&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,134&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(1,435&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(239&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) after income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(171&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,127&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,560&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,262&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity in net income (loss) of unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,275&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;628&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(486&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(2,417&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(499&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;3,074&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(2,417&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,262&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss) attributed to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;
 interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Participating policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(36&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(36&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Shareholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(489&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,916&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(2,427&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(499&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;3,074&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(2,417&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,262&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Consolidated Statement of Cash
 Flows&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="55%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;MFC&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(Guarantor)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;JHUSA&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(Issuer)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Other&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Consolidation&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;adjustments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Consolidated&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;MFC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Operating activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,181&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;6,060&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(8,154&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,887&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Adjustments:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity in net income of unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(4,767&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,206&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,181&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,154&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Increase (decrease) in insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(5,273&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,180&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,907&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Increase (decrease) in investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(86&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;121&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;35&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 (Increase) decrease in reinsurance assets excluding coinsurance
 transactions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,609&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(716&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;893&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Amortization of (premium) discount on invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;58&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;154&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;212&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other amortization&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;225&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;518&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;747&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Net realized and unrealized (gains) losses and impairment on
 assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,158&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,580&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,727&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Deferred income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;679&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;240&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;930&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Restructuring charge&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;43&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;113&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;156&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Stock option expense&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash provided by (used in) operating activities before undernoted
 items&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,388&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,079&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,504&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Dividends from unconsolidated subsidiary&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,700&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;405&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;777&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,882&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in policy related and operating receivables and
 payables&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;251&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(536&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(31&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(316&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) operating activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,988&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,257&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17,825&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3,882&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19,188&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Investing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Purchases and mortgage advances&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(38,799&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(62,373&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(101,172&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Disposals and repayments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,817&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;46,294&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;82,111&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in investment broker net receivables and payables&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(169&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;41&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(128&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment in common shares of subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,284&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,284&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net cash decrease from purchase of subsidiaries and businesses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;187&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;187&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital contribution to unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return of capital from unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes receivable from parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes receivable from subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(23&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(61&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;84&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) investing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,307&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3,154&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(15,934&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,393&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(19,002&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 (Decrease) increase in repurchase agreements and securities sold
 but not yet purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(189&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(189&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redemption of long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(400&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(400&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issue of capital instruments, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;597&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;597&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redemption of capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(450&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(450&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Secured borrowings from securitization transactions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in deposits from Bank clients, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,490&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,490&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Shareholders&amp;#x2019; dividends paid in cash&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,788&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,788&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Dividends paid to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(777&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,105&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,882&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Contributions from (distributions to) &lt;font style="WHITE-SPACE: nowrap"&gt;non-controlling&lt;/font&gt; interests, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(60&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(60&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Common shares repurchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(478&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(478&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Common shares issued, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;59&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,284&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,284&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;59&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Preferred shares issued, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital contributions by parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return of capital to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes payable to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;84&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(84&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes payable to subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;83&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) financing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,682&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(777&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(754&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,489&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(724&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Increase (decrease) during the year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,674&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,137&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(538&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Effect of foreign exchange rate changes on cash and short-term
 securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;353&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;468&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;822&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, beginning of year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,638&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11,439&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15,098&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, end of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,317&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,044&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15,382&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Beginning of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,133&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,811&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,965&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net payments in transit, included in other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(495&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(372&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(867&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net cash and short-term securities, beginning of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,638&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11,439&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15,098&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;End of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,783&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,411&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,215&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net payments in transit, included in other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(466&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(367&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(833&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net cash and short-term securities, end of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,317&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,044&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;15,382&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Supplemental disclosures on cash flow information:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest received&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;427&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,381&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,074&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(930&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,952&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;373&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;92&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,677&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(930&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,212&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income taxes paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(59&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;286&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;234&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;461&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Consolidated Statement of Cash
 Flows&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="55%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;MFC&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(Guarantor)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;JHUSA&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(Issuer)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Other&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Consolidation&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;adjustments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Consolidated&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;MFC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Operating activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(499&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,074&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,417&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,262&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Adjustments:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity in net income of unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,275&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(628&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;486&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,417&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Increase (decrease) in insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,877&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,146&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;20,023&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Increase (decrease) in investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;55&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;118&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;173&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 (Increase) decrease in reinsurance assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,890&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,159&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,269&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Amortization of (premium) discount on invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;206&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;230&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other amortization&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;123&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;433&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;560&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net realized and unrealized (gains) losses and impairment on
 assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,609&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4,572&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7,188&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deferred income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(59&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,239&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,967&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(331&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Stock option expense&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;19&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;15&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash provided by (used in) operating activities before undernoted
 items&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(233&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9,210&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9,036&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,013&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Dividends from unconsolidated subsidiary&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,700&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;125&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,175&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in policy related and operating receivables and
 payables&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(45&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(4,627&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4,450&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(222&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) operating activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,422&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;4,708&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;14,661&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(4,000&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;17,791&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Investing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Purchases and mortgage advances&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(30,645&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(56,579&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(87,224&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Disposals and repayments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;26,952&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;43,768&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;70,720&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in investment broker net receivables and payables&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;182&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;45&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;227&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment in common shares of subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net cash decrease from purchase of subsidiaries and businesses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital contribution to unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(63&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;63&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return of capital from unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(11&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes receivables from affiliates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes receivable from parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;368&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(392&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes receivable from subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(16&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) investing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(2,489&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(3,205&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(12,551&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;1,958&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(16,287&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 (Decrease) increase in repurchase agreements and securities sold
 but not yet purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(29&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(29&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redemption of long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(600&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(607&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issue of capital instruments, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,209&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,209&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redemption of capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(899&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(899&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Secured borrowings from securitization transactions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;741&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;741&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in deposits from Bank clients, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;261&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;261&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Shareholders&amp;#x2019; dividends paid in cash&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,780&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,780&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Contributions from (distributions to) &lt;font style="WHITE-SPACE: nowrap"&gt;non-controlling&lt;/font&gt; interests, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Common shares issued, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;124&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;124&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Dividends paid to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,175&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,825&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital contributions by parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;63&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(63&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return of capital to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(11&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes payable to affiliates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes payable to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(26&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes payable to subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(24&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(368&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;392&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) financing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(71&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(1,376&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(581&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,042&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Increase (decrease) during the year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(138&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;127&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,518&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Effect of foreign exchange rate changes on cash and short-term
 securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(276&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(380&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(658&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, beginning of year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;161&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;3,787&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10,290&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;14,238&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, end of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;21&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;3,638&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;11,439&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;15,098&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Beginning of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;161&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,317&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,673&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,151&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net payments in transit, included in other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(530&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(383&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(913&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net cash and short-term securities, beginning of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;161&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;3,787&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;10,290&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;14,238&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;End of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,133&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,811&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,965&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net payments in transit, included in other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(495&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(372&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(867&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net cash and short-term securities, end of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;21&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;3,638&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;11,439&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;15,098&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Supplemental disclosures on cash flow information:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest received&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;273&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,391&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,504&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(572&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,596&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;392&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;96&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,202&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(572&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,118&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income taxes paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;99&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;1,084&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;177&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;1,360&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatory>
  <ifrs-full:DisclosureOfDeferredTaxesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_2D9075AA-6C72-43F9-8547-4BB667E6E5EE_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following table presents significant components of the
 Company&amp;#x2019;s deferred tax assets and liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Recognized&lt;br /&gt;
 in Income&lt;br /&gt;
 Statement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Recognized in&lt;br /&gt;
 Other&lt;br /&gt;
 Comprehensive&lt;br /&gt;
 Income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Recognized&lt;br /&gt;
 in Equity&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Translation&lt;br /&gt;
 and Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loss carry forwards&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;596&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;387&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;29&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,019&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Actuarial liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,878&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,697&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;282&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,466&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Pensions and post-employment benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;208&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;242&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Tax credits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;454&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(224&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;31&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;261&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,062&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;150&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(46&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(959&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Securities and other investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,807&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,234&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;136&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(253&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,689&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Sale of investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(105&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(87&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Goodwill and intangible assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(825&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(40&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(847&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(50&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;157&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(12&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;97&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;3,288&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(930&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;148&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9)&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,504&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Recognized&lt;br /&gt;
 in Income&lt;br /&gt;
 Statement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Recognized in&lt;br /&gt;
 Other&lt;br /&gt;
 Comprehensive&lt;br /&gt;
 Income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Recognized&lt;br /&gt;
 in Equity&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Translation&lt;br /&gt;
 and Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loss carry forwards&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;942&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(311&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(38&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;596&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Actuarial liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9,366&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,053&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(418&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,878&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Pensions and post-employment benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;352&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(87&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(54&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;208&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Tax credits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;875&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(369&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(52&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;454&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,396&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;284&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;59&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,062&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Securities and other investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6,064&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,172&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(239&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3,807&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Sale of investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(163&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;58&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(105&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Goodwill and intangible assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,059&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;197&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;37&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(825&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;210&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(548&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;287&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(50&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;3,080&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;331&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(320&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;195&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;3,288&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfDeferredTaxesExplanatory>
  <ifrs-full:DisclosureOfFairValueMeasurementOfAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_1D8064EC-5D23-4342-AE16-7F13EB049449_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Carrying values and fair values of
 invested assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="57%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;FVTPL&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;AFS&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&amp;#xA0;carrying&lt;br /&gt;
 value&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total fair&lt;br /&gt;
 value&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and short-term securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,080&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,163&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,972&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,215&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,215&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,342&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23,787&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23,787&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,990&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;25,924&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;25,924&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,159&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,101&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;20,260&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;20,260&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;107,425&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;112,670&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;112,670&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,774&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,953&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,953&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,721&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,458&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,363&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,363&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,628&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;36,103&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,793&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,793&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,797&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Own use property&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,016&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,016&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Investment property&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Alternative long-duration assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(9),(10)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,720&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;101&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,617&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23,438&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24,211&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Various other&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;&amp;#xA0;(11)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;151&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,954&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,105&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,104&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total invested assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;187,409&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;43,579&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;122,676&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;353,664&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;356,217&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;FVTPL&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;AFS&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;Other&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;Total&amp;#xA0;carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;Total fair&lt;br /&gt;
 value&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and short-term securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;439&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,429&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,097&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,965&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,965&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,886&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,892&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22,778&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22,778&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,497&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,472&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;25,969&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;25,969&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,838&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,988&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,826&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,826&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;96,785&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,366&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;102,151&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;102,151&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,018&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;258&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,276&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,276&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,072&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21,545&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21,545&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;46,065&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34,581&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,737&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,737&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Own use property&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,281&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,281&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,448&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Investment property&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Alternative long-duration assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(9),(10)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,018&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,624&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20,730&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21,053&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Various other&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;&amp;#xA0;(11)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;142&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,611&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,753&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,752&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total invested assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;178,096&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;41,565&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;114,561&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;334,222&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;339,488&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;FVTPL classification was elected for securities
 backing insurance contract liabilities to substantially reduce any
 accounting mismatch arising from changes in the fair value of these
 assets and changes in the value of the related insurance contract
 liabilities. If this election had not been made and instead the AFS
 classification was selected, there would be an accounting mismatch
 because changes in insurance contract liabilities are recognized in
 net income rather than in OCI.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Securities that are designated as AFS are not actively
 traded by the Company but sales do occur as circumstances warrant.
 Such sales result in a reclassification of any accumulated
 unrealized gain (loss) in AOCI to net income as a realized gain
 (loss).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Primarily includes assets classified as loans and
 carried at amortized cost, own use properties, investment
 properties, equity method accounted investments, oil and gas
 investments, and leveraged leases. Refer to note 1(e) for further
 details regarding accounting policy.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fixed income invested assets presented above include
 debt securities, mortgages, private placements and approximately
 $600 other invested assets, which primarily have contractual cash
 flows that qualify as SPPI. Fixed income invested assets which do
 not have SPPI qualifying cash flows as at December&amp;#xA0;31, 2018
 include debt securities, private placements and other invested
 assets with fair values of $105, $230 and $465, respectively. The
 change in the fair value of these invested assets during the year
 amounts to $21.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The methodologies used in determining fair values of
 invested assets are described in note 1(c) and note 3(g).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes short-term securities with maturities of less
 than one year at acquisition amounting to $2,530 (2017 &amp;#x2013;
 $2,737), cash equivalents with maturities of less than 90 days at
 acquisition amounting to $8,713 (2017 &amp;#x2013; $9,131) and cash of
 $4,972 (2017 &amp;#x2013; $4,097).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Debt securities include securities which were acquired
 with maturities of less than one year and less than 90 days of $870
 and $40, respectively (2017 &amp;#x2013; $1,768 and $161,
 respectively).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes accumulated depreciation of $391 (2017
 &amp;#x2013; $389).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(9)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Alternative long-duration assets (&amp;#x201C;ALDA&amp;#x201D;)
 include investments in private equity of $6,769, power and
 infrastructure of $7,970, oil and gas of $3,416, timber and
 agriculture of $4,493 and various other invested assets of $791
 (2017 &amp;#x2013; $4,959, $7,355, $2,813, $5,033 and $570,
 respectively). Included in power and infrastructure are a group of
 investments in hydro-electric power of $426 for which the Company
 has an approved plan of sale. Sale of these investments is expected
 to be completed within one year. This disposal group is classified
 as held for sale and measured at the lower of carrying amount and
 fair value less costs to sell.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(10)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;During 2018, the Company sold the following invested
 assets to related parties: $1,422 of power and infrastructure ALDA
 to the John Hancock Infrastructure Master Fund L.P. in the U.S. an
 associate of the Company which is a structured entity based on
 partnership voting rights, the Company provides management services
 to the fund and owns less than 1% of the ownership interest; $510
 (2017 &amp;#x2013; $395) of U.S. commercial real estate to the Manulife
 US Real Estate Investment Trust in Singapore, an associate of the
 Company which is a structured entity based on unitholder voting
 rights, the Company provides management services to the trust and
 owns approximately 8.5% (2017 &amp;#x2013; 9.5%) of its units; and
 $1,314 of U.S. commercial real estate to three newly established
 joint ventures which are structured entities based on voting
 rights. During 2017, $619 of U.S. commercial real estate was sold
 to the Hancock US Real Estate Fund, L.P., an associate of the
 Company which is a structured entity based on partnership voting
 rights. The Company provides management services to the fund and
 owns approximately 11.7% of its partnership interests.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(11)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes $3,575 (2017 &amp;#x2013; $3,273) of leveraged
 leases. Refer to note 1(e) regarding accounting policy.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfFairValueMeasurementOfAssetsExplanatory>
  <ifrs-full:DisclosureOfFinancialRiskManagementExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_124F18DD-9467-4E72-A984-7DE31D2BDE90_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 9&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Risk
 Management&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s policies and procedures for managing risk
 related to financial instruments are presented in the &amp;#x201C;Risk
 Management&amp;#x201D; section of the Company&amp;#x2019;s MD&amp;amp;A for the
 year ended December&amp;#xA0;31, 2018. Specifically, these disclosures
 are included in &amp;#x201C;Market Risk&amp;#x201D; and &amp;#x201C;Liquidity
 Risk&amp;#x201D; in that section. These disclosures are in accordance
 with IFRS 7 &amp;#x201C;Financial Instruments: Disclosures&amp;#x201D; and
 therefore, only the shaded text and tables in the &amp;#x201C;Risk
 Management&amp;#x201D; section form an integral part of these
 Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Credit risk&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Credit risk is the risk of loss due to inability or unwillingness
 of a borrower, or counterparty, to fulfill its payment obligations.
 Worsening regional and global economic conditions, segment or
 industry sector challenges, or company specific factors could
 result in defaults or downgrades and could lead to increased
 provisions or impairments related to the Company&amp;#x2019;s general
 fund invested assets, derivative financial instruments and
 reinsurance assets and an increase in provisions for future credit
 impairments that are included in actuarial liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s exposure to credit risk is managed through risk
 management policies and procedures which include a defined credit
 evaluation and adjudication process, delegated credit approval
 authorities and established exposure limits by borrower, corporate
 connection, credit rating, industry and geographic region. The
 Company measures derivative counterparty exposure as net potential
 credit exposure, which takes into
 consideration&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;mark-to-market&lt;/font&gt;&lt;/font&gt;&amp;#xA0;values
 of all transactions with each counterparty, net of any collateral
 held, and an allowance to reflect future potential exposure.
 Reinsurance counterparty exposure is measured reflecting the level
 of ceded liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company also ensures where warranted, that mortgages, private
 placements and loans to Bank clients are secured by collateral, the
 nature of which depends on the credit risk of the counterparty.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 An allowance for losses on loans is established when a loan becomes
 impaired. Allowances for loan losses are calculated to reduce the
 carrying value of the loans to estimated net realizable value. The
 establishment of such allowances takes into consideration normal
 historical credit loss levels and future expectations, with an
 allowance for adverse deviations. In addition, policy liabilities
 include general provisions for credit losses from future asset
 impairments. Impairments are identified through regular monitoring
 of all credit related exposures, considering such information as
 general market conditions, industry and borrower specific credit
 events and any other relevant trends or conditions. Allowances for
 losses on reinsurance contracts are established when a reinsurance
 counterparty becomes unable or unwilling to fulfill its contractual
 obligations. The allowance for loss is based on current recoverable
 amounts and ceded policy liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Credit risk associated with derivative counterparties is discussed
 in note 9(d) and credit risk associated with reinsurance
 counterparties is discussed in note 9(i).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Credit exposure&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the gross carrying amount of financial
 instruments subject to credit exposure, without considering any
 collateral held or other credit enhancements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="80%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;154,737&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;147,024&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,857&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26,976&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,363&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,793&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,737&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,703&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,569&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Accrued investment income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,427&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,182&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reinsurance assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;43,053&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;30,359&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other financial assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,253&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;341,933&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;311,782&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 As at December 31, 2018, 99% (2017-99%) of debt securities were
 investment grade-rated with ratings ranging between AAA to BBB.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Credit quality&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Credit quality of commercial mortgages and private placements is
 assessed at least annually by using an internal rating based on
 regular monitoring of credit-related exposures, considering both
 qualitative and quantitative factors.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 A provision is recorded when the internal risk ratings indicate
 that a loss represents the most likely outcome. These assets are
 designated as&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-accrual&lt;/font&gt;&amp;#xA0;and an
 allowance is established based on an analysis of the security and
 repayment sources.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Credit quality of commercial mortgages and private placements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="46%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;AAA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;AA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;A&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;BBB&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;BB&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;B&amp;#xA0;and&amp;#xA0;lower&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Commercial mortgages&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Retail&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;82&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,524&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,459&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,227&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;74&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,377&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Office&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,495&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,454&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,650&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;45&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,706&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Multi-family residential&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;613&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,427&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,407&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;839&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,323&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Industrial&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;36&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;366&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,953&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;339&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;120&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,814&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;289&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;334&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;1,167&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;1,191&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;2,995&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total commercial mortgages&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;1,076&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;5,146&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;15,440&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;6,246&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;213&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;94&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;28,215&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Agricultural mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;163&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;389&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;552&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,143&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,968&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,304&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14,055&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;733&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,551&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;2,219&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;10,277&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;28,744&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;20,690&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;946&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;1,645&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;64,521&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;AAA&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;AA&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;A&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;BBB&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;BB&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;B&amp;#xA0;and&amp;#xA0;lower&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Commercial mortgages&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Retail&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;110&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,517&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,363&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,050&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;57&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,141&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Office&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;57&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,272&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,635&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,647&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;70&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;28&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,709&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Multi-family residential&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;523&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,395&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,805&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;726&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,449&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Industrial&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;33&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;386&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,542&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;477&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;145&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,583&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right"&gt;362&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right"&gt;331&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right"&gt;1,012&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right"&gt;973&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right"&gt;14&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right"&gt;2,692&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total commercial mortgages&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,085&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,901&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;13,357&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,873&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;273&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;85&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;25,574&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Agricultural mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;159&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;405&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;25&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;589&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,038&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,246&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;11,978&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;13,160&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;717&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;993&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;2,123&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;9,306&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;25,335&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;19,438&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,015&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;1,078&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;58,295&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Credit quality of residential mortgages and loans to Bank clients
 is assessed at least annually with the loan being performing
 or&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-performing&lt;/font&gt;&amp;#xA0;as
 the key credit quality indicator.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Full or partial write-offs of loans are recorded when management
 believes that there is no realistic prospect of full recovery.
 Write-offs, net of recoveries, are deducted from the allowance for
 credit losses. All impairments are captured in the allowance for
 credit losses.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Credit quality of residential mortgages and loans to Bank
 clients.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="52%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 10pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;font style="FONT-SIZE: 4.5pt"&gt;&lt;sup style="FONT-SIZE: 5px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="10" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;2017&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Insured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Uninsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Insured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Uninsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Residential mortgages&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Performing&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,854&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,696&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,550&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,256&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,310&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,566&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-performing&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;46&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Loans to Bank clients&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Performing&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,787&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,787&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,734&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,734&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-performing&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;6,873&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;14,516&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;21,389&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right"&gt;&amp;#xA0;&amp;#xA0;7,260&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right"&gt;&amp;#xA0;&amp;#xA0;13,056&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right"&gt;&amp;#xA0;&amp;#xA0;20,316&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-performing&lt;/font&gt;&amp;#xA0;refers
 to assets that are 90 days or more past due.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The carrying value of government-insured mortgages was 15% of the
 total mortgage portfolio as at December&amp;#xA0;31, 2018 (2017 &amp;#x2013;
 17%). Most of these insured mortgages are residential loans as
 classified in the table above.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Past due or credit impaired financial
 assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company provides for credit risk by establishing allowances
 against the carrying value of impaired loans and recognizing
 impairment losses on AFS debt securities. In addition, the Company
 reports as impairment certain declines in the fair value of debt
 securities designated as FVTPL which it deems represent an
 impairment.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Past due but not impaired and impaired
 financial assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="73%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Past due but not impaired&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Less&amp;#xA0;than&lt;br /&gt;
 90 days&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;90 days&lt;br /&gt;
 and&amp;#xA0;greater&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total&lt;br /&gt;
 impaired&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;39&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em"&gt;
 Mortgages and loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;70&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;70&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;120&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other financial assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;77&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;26&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;103&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;176&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;28&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;204&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;179&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="12"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"&gt;Past due but not impaired&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Less than&lt;br /&gt;
 90 days&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;90 days&lt;br /&gt;
 and greater&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;br /&gt;
 impaired&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;45&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;104&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;106&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;363&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;363&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages and loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;76&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;92&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;86&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other financial assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;72&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;589&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;44&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;633&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;173&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Impaired loans&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="71%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Gross&lt;br /&gt;
 carrying&lt;br /&gt;
 value&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Allowances&amp;#xA0;for&lt;br /&gt;
 loan&amp;#xA0;losses&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Net&amp;#xA0;carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;61&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;43&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages and loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;172&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;52&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;120&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;233&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;95&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;138&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Gross&lt;br /&gt;
 carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Allowances for&lt;br /&gt;
 loan losses&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Net carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;79&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages and loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;132&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;86&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;211&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;85&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;126&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Allowance for loan losses&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="45%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="10" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Private&lt;br /&gt;
 placements&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Mortgages&lt;br /&gt;
 and&amp;#xA0;loans&amp;#xA0;to&lt;br /&gt;
 Bank clients&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;Private&lt;br /&gt;
 placements&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;Mortgages&lt;br /&gt;
 and&amp;#xA0;loans&amp;#xA0;to&lt;br /&gt;
 Bank clients&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;39&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;46&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;85&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;92&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;118&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Provisions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;55&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;33&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Recoveries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(36&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(13&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Write-offs&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(43&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(12&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(55&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;43&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;52&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;95&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;39&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;46&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;85&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes disposals and impact of changes in foreign
 exchange rates.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Securities lending, repurchase and
 reverse repurchase transactions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company engages in securities lending to generate fee income.
 Collateral exceeding the market value of the loaned securities is
 retained by the Company until the underlying security has been
 returned to the Company. The market value of the loaned securities
 is monitored daily and additional collateral is obtained or
 refunded as the market value of the underlying loaned securities
 fluctuates. As at December&amp;#xA0;31, 2018, the Company had loaned
 securities (which are included in invested assets) with a market
 value of $1,518 (2017 &amp;#x2013; $1,563). The Company holds collateral
 with a current market value that exceeds the value of securities
 lent in all cases.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company engages in reverse repurchase transactions to generate
 fee income, to take possession of securities to cover short
 positions in similar instruments and to meet short-term funding
 requirements. As at December&amp;#xA0;31, 2018, the Company had engaged
 in reverse repurchase transactions of $63 (2017 &amp;#x2013; $230) which
 are recorded as short-term receivables. In addition, the Company
 had engaged in repurchase transactions of $64 as at
 December&amp;#xA0;31, 2018 (2017 &amp;#x2013; $228) which are recorded as
 payables.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Credit default swaps&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company replicates exposure to specific issuers by selling
 credit protection via credit default swaps (&amp;#x201C;CDSs&amp;#x201D;) to
 complement its cash debt securities investing. The Company does not
 write CDS protection more than its government bond holdings. A CDS
 is a derivative instrument representing an agreement between two
 parties to exchange the credit risk of a single specified entity or
 an index based on the credit risk of a group of entities (all
 commonly referred to as the &amp;#x201C;reference entity&amp;#x201D; or a
 portfolio of &amp;#x201C;reference entities&amp;#x201D;), in return for a
 periodic premium. CDS contracts typically have a five-year
 term.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents details of the credit default swap
 protection sold by type of contract and external agency rating for
 the underlying reference security.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="74%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Notional&lt;br /&gt;
 amount&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 maturity&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;years)&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Single name CDSs&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&amp;#xA0;&lt;/sup&gt;&amp;#x2013;
 Corporate debt&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;25&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 A&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;447&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 BBB&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;180&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 Total single name CDSs&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;652&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total CDS protection sold&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;652&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="13"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Notional&lt;br /&gt;
 amount&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 maturity&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;years)&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Single name CDSs&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&amp;#xA0;&lt;/sup&gt;&amp;#x2013;
 Corporate debt&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 AAA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 AA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 A&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;408&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 BBB&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;150&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 Total single name CDSs&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&amp;#xA0;&amp;#xA0;606&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&amp;#xA0;&amp;#xA0;14&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;3&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total CDS protection sold&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&amp;#xA0;&amp;#xA0;606&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&amp;#xA0;&amp;#xA0;14&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;3&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&amp;#xA0;&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Notional amounts represent the maximum future payments
 the Company would have to pay its counterparties assuming a default
 of the underlying credit and zero recovery on the underlying issuer
 obligation.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&amp;#xA0;&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The weighted average maturity of the CDS is weighted
 based on notional amounts.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&amp;#xA0;&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Rating agency designations are based on S&amp;amp;P where
 available followed by Moody&amp;#x2019;s, DBRS, and Fitch. If no rating
 is available from a rating agency, an internally developed rating
 is used.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company held no purchased credit protection as at
 December&amp;#xA0;31, 2018 and 2017.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Derivatives&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;point-in-time&lt;/font&gt;&lt;/font&gt;&amp;#xA0;exposure
 to losses related to credit risk of a derivative counterparty is
 limited to the amount of any net gains that may have accrued with a
 counterparty. Gross derivative counterparty exposure is measured as
 the total fair value (including accrued interest) of all
 outstanding contracts in a gain position excluding any offsetting
 contracts in a loss position and the impact of collateral on hand.
 The Company limits the risk of credit losses from derivative
 counterparties by: using investment grade counterparties; entering
 into master netting arrangements which permit the offsetting of
 contracts in a loss position in the case of a counterparty default;
 and entering into Credit Support Annex agreements, whereby
 collateral must be provided when the exposure exceeds a certain
 threshold. All contracts are held with counterparties
 rated&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;BBB-&lt;/font&gt;&amp;#xA0;or higher. As
 at December&amp;#xA0;31, 2018, the percentage of the Company&amp;#x2019;s
 derivative exposure with counterparties
 rated&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;AA-&lt;/font&gt;&amp;#xA0;or higher was
 19&amp;#xA0;per cent (2017 &amp;#x2013; 20 per cent). The Company&amp;#x2019;s
 exposure to credit risk was mitigated by $7,848 fair value of
 collateral held as security as at December&amp;#xA0;31, 2018 (2017
 &amp;#x2013; $10,138).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 As at December&amp;#xA0;31, 2018, the largest single counterparty
 exposure, without considering the impact of master netting
 agreements or the benefit of collateral held, was $2,269 (2017
 &amp;#x2013; $2,629). The net exposure to this counterparty, after
 considering master netting agreements and the fair value of
 collateral held, was $nil (2017 &amp;#x2013; $nil). As at
 December&amp;#xA0;31, 2018, the total maximum credit exposure related
 to derivatives across all counterparties, without considering the
 impact of master netting agreements and the benefit of collateral
 held, was $14,320 (2017 &amp;#x2013; $16,204).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(e) Offsetting financial assets and
 financial liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Certain derivatives, securities lent and repurchase agreements have
 conditional offset rights. The Company does not offset these
 financial instruments in the Consolidated Statements of Financial
 Position, as the rights of offset are conditional.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In the case of derivatives, collateral is collected from and
 pledged to counterparties and clearing houses to manage credit risk
 exposure in accordance with Credit Support Annexes to swap
 agreements and clearing agreements. Under master netting
 agreements, the Company has a right of offset in the event of
 default, insolvency, bankruptcy or other early termination.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In the case of reverse repurchase and repurchase transactions,
 additional collateral may be collected from or pledged to
 counterparties to manage credit exposure according to bilateral
 reverse repurchase or repurchase agreements. In the event of
 default by a counterparty, the Company is entitled to liquidate the
 collateral held to offset against the same counterparty&amp;#x2019;s
 obligation.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the effect of conditional master
 netting and similar arrangements. Similar arrangements may include
 global master repurchase agreements, global master securities
 lending agreements, and any related rights to financial
 collateral.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="45%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="7%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;
 Related&amp;#xA0;amounts&amp;#xA0;not&amp;#xA0;set&amp;#xA0;off&amp;#xA0;in&amp;#xA0;the&lt;br /&gt;

 Consolidated&amp;#xA0;Statements&amp;#xA0;of&lt;br /&gt;
 Financial Position&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Gross&amp;#xA0;amounts&amp;#xA0;of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Amounts&amp;#xA0;subject&amp;#xA0;to&lt;br /&gt;
 an enforceable&lt;br /&gt;
 master netting&lt;br /&gt;
 arrangement or&lt;br /&gt;
 similar agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Financial
 and&lt;br /&gt;
 cash&amp;#xA0;collateral&lt;br /&gt;
 pledged&lt;br /&gt;
 (received)&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&amp;#xA0;amount&lt;br /&gt;
 including&lt;br /&gt;
 financing&lt;br /&gt;
 trusts&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Net&amp;#xA0;amounts&lt;br /&gt;
 excluding&lt;br /&gt;
 financing&lt;br /&gt;
 trusts&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financial assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,320&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(6,644&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(7,431&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Securities lending&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,518&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,518&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reverse repurchase agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;63&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(63&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total financial assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;15,901&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;(6,707&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;(8,949&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;245&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;245&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financial liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(8,716&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;6,644&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,868&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(204&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(33&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Repurchase agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(64&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;63&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total financial liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;(8,780&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;6,707&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;1,869&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;(204&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;(33&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="45%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="7%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Related&amp;#xA0;amounts&amp;#xA0;not
 set&amp;#xA0;off&amp;#xA0;in&amp;#xA0;the&lt;br /&gt;
 Consolidated Statements of&lt;br /&gt;
 Financial Position&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Gross amounts of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Amounts subject to&lt;br /&gt;
 an enforceable&lt;br /&gt;
 master netting&lt;br /&gt;
 arrangement or&lt;br /&gt;
 similar agreements&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Financial and&lt;br /&gt;
 cash&amp;#xA0;collateral&lt;br /&gt;
 pledged&lt;br /&gt;
 (received)&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&amp;#xA0;amount&lt;br /&gt;
 including&lt;br /&gt;
 financing&lt;br /&gt;
 trusts&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Net&amp;#xA0;amounts&lt;br /&gt;
 excluding&lt;br /&gt;
 financing&lt;br /&gt;
 trusts&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financial assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,204&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6,714&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(9,395&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;95&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;95&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Securities lending&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,563&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,563&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reverse repurchase agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;230&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(184&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total financial assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&amp;#xA0;&amp;#xA0;17,997&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;(6,760&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;(11,142&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;95&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;95&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financial liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(8,649&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;6,714&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,718&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(217&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(30&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Repurchase agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(228&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;182&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total financial liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;(8,877&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;6,760&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;1,900&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;(217&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;(30&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Financial assets and liabilities include accrued
 interest of $621 and $913, respectively (2017 &amp;#x2013; $638 and
 $827, respectively).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Financial and cash collateral exclude
 over-collateralization. As at December&amp;#xA0;31, 2018, the Company
 was over-collateralized on OTC derivative assets, OTC derivative
 liabilities, securities lending and reverse purchase agreements and
 repurchase agreements in the amounts of $417, $405, $80 and $nil,
 respectively (2017 &amp;#x2013; $743, $382, $79 and $nil, respectively).
 As at December&amp;#xA0;31, 2018, collateral pledged (received) does
 not include&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;collateral-in-transit&lt;/font&gt;&lt;/font&gt;&amp;#xA0;on
 OTC instruments or initial margin on exchange traded contracts or
 cleared contracts.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes derivative contracts entered between the
 Company and its financing trusts which it does not consolidate. The
 Company does not exchange collateral on derivative contracts
 entered with these trusts. Refer to note 17.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company has certain credit linked note assets and variable
 surplus note liabilities which have unconditional offset rights.
 Under the netting agreements, the Company has rights of offset
 including in the event of the Company&amp;#x2019;s default, insolvency,
 or bankruptcy. These financial instruments are offset in the
 Consolidated Statements of Financial Position.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 A credit linked note is a security that allows the issuer to
 transfer a specific credit risk to the buyer. A surplus note is a
 subordinated debt obligation that often qualifies as a surplus (the
 U.S. statutory equivalent of equity) by some U.S. state insurance
 regulators. Interest payments on surplus notes are made after all
 other contractual payments are made. The following table presents
 the effect of unconditional netting.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="57%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="12%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="11%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right"&gt;Gross amounts
 of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right"&gt;Amounts subject
 to&lt;br /&gt;
 an enforceable&lt;br /&gt;
 netting&amp;#xA0;arrangement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right"&gt;
 Net&amp;#xA0;amounts&amp;#xA0;of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit linked note&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;679&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" align="right"&gt;
 &lt;b&gt;(679&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Variable surplus note&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" align="right"&gt;&lt;b&gt;(679&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;679&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(120,132,109); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;/div&gt;
 &lt;center style="FONT-SIZE: medium; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;div style="WIDTH: 8.5in" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="58%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="12%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="11%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Gross&amp;#xA0;amounts of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Amounts&amp;#xA0;subject&amp;#xA0;to&lt;br /&gt;
 an enforceable&lt;br /&gt;
 netting&amp;#xA0;arrangement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Net amounts of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit linked note&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;461&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(461&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Variable surplus note&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(461&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;461&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2017, the Company entered into a twenty-year
 financing facility with a third party, agreeing to issue variable
 surplus notes in exchange for an equal amount of credit linked
 notes. These notes are held to support JHUSA excess reserves under
 U.S. National Association of Insurance Commissioners&amp;#x2019; Model
 Regulation XXX. In certain scenarios, the credit linked note will
 be drawn upon by the Company which will issue fixed surplus notes
 equal to the draw payment received. The third party has agreed to
 fund any such payment under the credit-linked notes in return for a
 fee. As at December&amp;#xA0;31, 2018, the Company had no fixed surplus
 notes outstanding.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(f) Risk concentrations&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company defines enterprise-wide investment portfolio level
 targets and limits to ensure that portfolios are diversified across
 asset classes and individual investment risks. The Company monitors
 actual investment positions and risk exposures for concentration
 risk and reports its findings to the Executive Risk Committee and
 the Risk Committee of the Board of Directors.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="93%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities and private placements rated as investment grade
 BBB or higher&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;98%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;98%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Government debt securities as a per cent of total debt
 securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;38%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Government private placements as a per cent of total private
 placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Highest exposure to a single&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-government&lt;/font&gt;&amp;#xA0;debt
 security and private placement issuer&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,013&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,044&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Largest single issuer as a per cent of the total equity
 portfolio&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income producing commercial office properties (2018 &amp;#x2013; 55% of
 real estate, 2017 &amp;#x2013; 64%)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,065&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,836&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Largest concentration of mortgages and real estate&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&amp;#xA0;&amp;#x2013;
 Ontario Canada (2018 &amp;#x2013; 26%, 2017 &amp;#x2013; 25%)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;16,092&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;14,779&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Investment grade debt securities and private
 placements include 41% rated A, 17% rated AA and 17% rated AAA
 (2017 &amp;#x2013; 42%, 16% and 17%) investments based on external
 ratings where available.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Mortgages and real estate investments are diversified
 geographically and by property type.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Debt securities and private placements portfolio by sector and
 industry.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="88%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Carrying&amp;#xA0;value&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Carrying&amp;#xA0;value&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;73,858&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;33&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;71,888&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Utilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;41,929&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40,568&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Financial&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;31,340&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;27,923&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Energy&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,685&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,428&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Industrial&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,508&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,691&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Consumer&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;(non-cyclical)&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,483&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,009&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Consumer (cyclical)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,707&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,916&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Securitized&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,300&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,577&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Telecommunications&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,716&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,324&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Basic materials&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,539&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,248&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Technology&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,352&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,475&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Media and internet&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,112&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,136&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Diversified and miscellaneous&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;819&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;949&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;221,348&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;100&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;206,132&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;100&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(g) Insurance risk&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Insurance risk is the risk of loss due to actual experience for
 mortality and morbidity claims, policyholder behaviour and expenses
 emerging differently than assumed when a product was designed and
 priced. A variety of assumptions are made related to these
 experience factors, for reinsurance costs, and for sales levels
 when products are designed and priced, as well as in the
 determination of policy liabilities. Assumptions for future claims
 are generally based on both Company and industry experience, and
 assumptions for future policyholder behaviour and expenses are
 generally based on Company experience. Such assumptions require
 significant professional judgment, and actual experience may be
 materially different than the assumptions made by the Company.
 Claims may be impacted unexpectedly by changes in the prevalence of
 diseases or illnesses, medical and technology advances, widespread
 lifestyle changes, natural disasters,
 large-scale&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;man-made&lt;/font&gt;&amp;#xA0;disasters
 and acts of terrorism. Policyholder behaviour including premium
 payment patterns, policy renewals, lapse rates and withdrawal and
 surrender activity are influenced by many factors including market
 and general economic conditions, and the availability and relative
 attractiveness of other products in the marketplace. Some
 reinsurance rates are not guaranteed and may be changed
 unexpectedly. Adjustments the Company seeks to make
 to&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-Guaranteed&lt;/font&gt;&amp;#xA0;elements
 to reflect changing experience factors may be challenged by
 regulatory or legal action and the Company may be unable to
 implement them or may face delays in implementation.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The Company manages insurance risk through global policies,
 standards and best practices with respect to product design,
 pricing, underwriting and claim adjudication, and a global
 underwriting manual. Each business unit establishes underwriting
 policies and procedures, including criteria for approval of risks
 and claims adjudication policies and procedures. The current global
 life retention limit is US$30 for individual policies (US$35 for
 survivorship life policies) and is shared across businesses. Lower
 limits are applied in some markets and jurisdictions. The Company
 aims to further reduce exposure to claims concentrations by
 applying geographical aggregate retention limits for certain
 covers. Enterprise-wide, the Company aims to reduce the likelihood
 of high aggregate claims by operating globally, insuring a wide
 range of unrelated risk events, and reinsuring some risk.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(h) Concentration risk&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The geographic concentration of the Company&amp;#x2019;s insurance and
 investment contract liabilities, including embedded derivatives, is
 shown below. The disclosure is based on the countries in which the
 business is written.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="69%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Gross&amp;#xA0;liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Reinsurance&lt;br /&gt;
 assets&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net&amp;#xA0;liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 U.S. and Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;246,255&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;(42,634&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;203,621&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 Asia and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;85,830&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;(419&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;85,411&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;332,085&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(43,053&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;289,032&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Gross liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Reinsurance&lt;br /&gt;
 assets&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 U.S. and Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;237,434&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;(30,225&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;207,209&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 Asia and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;70,521&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;(134&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;70,387&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;307,955&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;(30,359&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;277,596&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(i) Reinsurance risk&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 In the normal course of business, the Company limits the amount of
 loss on any one policy by reinsuring certain levels of risk with
 other insurers. In addition, the Company accepts reinsurance from
 other reinsurers. Reinsurance ceded does not discharge the
 Company&amp;#x2019;s liability as the primary insurer. Failure of
 reinsurers to honour their obligations could result in losses to
 the Company; consequently, allowances are established for amounts
 deemed uncollectible. To minimize losses from reinsurer insolvency,
 the Company monitors the concentration of credit risk both
 geographically and with any one reinsurer. In addition, the Company
 selects reinsurers with high credit ratings.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 As at December&amp;#xA0;31, 2018, the Company had $43,053 (2017 &amp;#x2013;
 $30,359) of reinsurance assets. Of this, 94 per cent (2017
 &amp;#x2013;&amp;#xA0;92 per cent) were ceded to reinsurers with Standard
 and Poor&amp;#x2019;s ratings of&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;A-&lt;/font&gt;&amp;#xA0;or above. The
 Company&amp;#x2019;s exposure to credit risk was mitigated by $24,435
 fair value of collateral held as security as at December&amp;#xA0;31,
 2018 (2017 &amp;#x2013; $13,855). Net exposure after considering
 offsetting agreements and the benefit of the fair value of
 collateral held was $18,618 as at December&amp;#xA0;31, 2018 (2017
 &amp;#x2013; $16,504).&lt;/p&gt;
 &lt;/div&gt;
 &lt;/center&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfFinancialRiskManagementExplanatory>
  <ifrs-full:DisclosureOfIncomeTaxExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_14B05DA2-CEEF-482F-A2DC-DD8CED8B93E1_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;&lt;br class="Apple-interchange-newline" /&gt;
 Note 5&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Income Taxes&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Components of the income tax expense
 (recovery)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Income tax expenses (recovery) recognized in the Consolidated
 Statements of Income&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Current tax&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Current year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(327&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;608&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Adjustments to prior year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;29&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(38&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(298&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;570&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Deferred tax&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Change related to temporary differences&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(803&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of U.S. Tax Reform&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(320&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;472&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income tax expense&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;632&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;239&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Income tax expenses (recovery) recognized in Other Comprehensive
 Income&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="82%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Current income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;116&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deferred income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(148&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;320&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income tax expense (recovery)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(146&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;436&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Income tax expenses (recovery) recognized directly in Equity&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Current income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deferred income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income tax expense (recovery)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The effective income tax rate reflected in the Consolidated
 Statements of Income varies from the Canadian tax rate of
 26.75&amp;#xA0;per cent for the year ended December&amp;#xA0;31, 2018 (2017
 &amp;#x2013; 26.75 per cent) due to the following reasons.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Reconciliation of income tax
 expense&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income before income taxes&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;5,519&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,501&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income tax expense at Canadian statutory tax rate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,476&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;669&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Increase (decrease) in income taxes due to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Tax-exempt&lt;/font&gt;&amp;#xA0;investment
 income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(200&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(242&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Differences in tax rate on income not subject to tax in Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(391&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(551&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Adjustments to taxes related to prior years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(71&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(182&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of U.S. Tax Reform&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(320&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;472&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other differences&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;138&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;73&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income tax expense&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;632&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;239&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Impact of U.S. Tax Reform&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 On December&amp;#xA0;22, 2017, the U.S. government enacted new tax
 legislation effective January&amp;#xA0;1, 2018.&amp;#xA0;The legislation
 makes broad and complex changes to the U.S. tax code and
 accordingly it will take time to assess and interpret the changes.
 In 2017, based on a preliminary understanding of the new
 legislation, the Company recorded a provisional charge of
 $1.8&amp;#xA0;billion,&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;after-tax,&lt;/font&gt;&amp;#xA0;for the
 estimated impact of U.S. Tax Reform on policyholder liabilities and
 net deferred tax assets, including the reduction in the U.S.
 federal corporate income tax rate and the impact of specific life
 insurance regulations which limits the deductibility of reserves
 for U.S. federal income tax purposes. In 2018, the Company
 finalized its estimate of U.S. Tax Reform and reported a gain of
 $124 including a $196 increase in insurance contract liabilities.
 Refer to note 7(g) for the impact of U.S. Tax Reform on the
 Company&amp;#x2019;s insurance contract liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Current tax receivable and
 payable&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 As at December&amp;#xA0;31, 2018, the Company had approximately $1,712
 of tax receivable (2017 &amp;#x2013; $778) and $118 of tax payable (2017
 &amp;#x2013; $178).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Deferred tax assets and
 liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the Company&amp;#x2019;s deferred tax
 assets and liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December 31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deferred tax assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,318&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,569&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deferred tax liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,814&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,281&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net deferred tax assets (liabilities)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,504&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;3,288&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents significant components of the
 Company&amp;#x2019;s deferred tax assets and liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Recognized&lt;br /&gt;
 in Income&lt;br /&gt;
 Statement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Recognized
 in&lt;br /&gt;
 Other&lt;br /&gt;
 Comprehensive&lt;br /&gt;
 Income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Recognized&lt;br /&gt;
 in Equity&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Translation&lt;br /&gt;
 and Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loss carry forwards&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;596&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;387&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;29&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,019&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Actuarial liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,878&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,697&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;282&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,466&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Pensions and post-employment benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;208&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;242&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Tax credits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;454&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(224&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;31&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;261&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,062&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;150&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(46&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(959&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Securities and other investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,807&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,234&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;136&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(253&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,689&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Sale of investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(105&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(87&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Goodwill and intangible assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(825&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(40&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(847&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(50&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;157&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(12&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;97&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;3,288&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(930&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;148&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9)&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,504&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Recognized&lt;br /&gt;
 in Income&lt;br /&gt;
 Statement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Recognized in&lt;br /&gt;
 Other&lt;br /&gt;
 Comprehensive&lt;br /&gt;
 Income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Recognized&lt;br /&gt;
 in Equity&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Translation&lt;br /&gt;
 and Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loss carry forwards&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;942&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(311&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(38&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;596&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Actuarial liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9,366&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,053&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(418&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,878&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Pensions and post-employment benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;352&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(87&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(54&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;208&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Tax credits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;875&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(369&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(52&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;454&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,396&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;284&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;59&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,062&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Securities and other investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6,064&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,172&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(239&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3,807&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Sale of investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(163&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;58&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(105&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Goodwill and intangible assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,059&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;197&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;37&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(825&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;210&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(548&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;287&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(50&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;3,080&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;331&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(320&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;195&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;3,288&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The total deferred tax assets as at December&amp;#xA0;31, 2018 of
 $4,318 (2017 &amp;#x2013; $4,569) include $3,508 (2017 &amp;#x2013; $4,527)
 where the Company has suffered losses in either the current or
 preceding year and where the recognition is dependent on future
 taxable profits in the relevant jurisdictions and feasible
 management actions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 As at December&amp;#xA0;31, 2018, tax loss carryforwards available were
 approximately $4,838 (2017 &amp;#x2013; $3,164) of which $4,713 expire
 between the years 2020 and 2038 while $125 have no expiry date, and
 capital loss carryforwards available were approximately $20 (2017
 &amp;#x2013; $8) and have no expiry date. A $1,019 (2017 &amp;#x2013; $596)
 tax benefit related to these tax loss carryforwards has been
 recognized as a deferred tax asset as at December&amp;#xA0;31, 2018,
 and a benefit of $121 (2017 &amp;#x2013; $171) has not been recognized.
 In addition, the Company has approximately $426 (2017 &amp;#x2013; $606)
 of tax credit carryforwards which will expire between the years
 2030 and 2038 of which a benefit of $165 (2017 &amp;#x2013; $152) has
 not been recognized.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The total deferred tax liability as at December&amp;#xA0;31, 2018 was
 $1,814 (2017 &amp;#x2013; $1,281). This amount includes the deferred tax
 liability of consolidated entities. The aggregate amount of taxable
 temporary differences associated with the Company&amp;#x2019;s own
 investments in subsidiaries is not included in the Consolidated
 Financial Statements and was $16,570 (2017 &amp;#x2013; $11,780).&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfIncomeTaxExplanatory>
  <ifrs-full:DisclosureOfInsuranceContractsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_5C2BE4C4-5523-41E9-8607-CB64DD66B470_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 7&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Insurance
 Contract Liabilities and Reinsurance Assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Insurance contract liabilities and
 reinsurance assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Insurance contract liabilities are reported gross of reinsurance
 ceded and the ceded liabilities are reported separately as a
 reinsurance asset. Insurance contract liabilities include actuarial
 liabilities, benefits payable, provision for unreported claims and
 policyholder amounts on deposit. The components of gross and net
 insurance contract liabilities are shown below.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 4pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="79%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,737&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;291,767&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross benefits payable and provision for unreported claims&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,398&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,376&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross policyholder amounts on deposit&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,519&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;9,462&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;304,605&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reinsurance assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(42,925&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(30,359&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net insurance contract liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;285,729&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;274,246&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The Company also holds reinsurance assets of $128
 (2017 &amp;#x2013; $nil) for investment contract liabilities, refer to
 note 8(b).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Net insurance contract liabilities represent the amount which,
 together with estimated future premiums and net investment income,
 will be sufficient to pay estimated future benefits, policyholder
 dividends and refunds, taxes (other than income taxes) and expenses
 on policies&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;net of
 reinsurance premiums and recoveries.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Net insurance contract liabilities are determined using CALM, as
 required by the Canadian Institute of Actuaries.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The determination of net insurance contract liabilities is based on
 an explicit projection of cash flows using current assumptions for
 each material cash flow item. Investment returns are projected
 using the current asset portfolios and projected reinvestment
 strategies.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Each assumption is based on the best estimate adjusted by a margin
 for adverse deviation. For fixed income returns, this margin is
 established by scenario testing a range of prescribed and
 company-developed scenarios consistent with Canadian Actuarial
 Standards of Practice. For all other assumptions, this margin is
 established by directly adjusting the best estimate assumption.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Cash flows used in the net insurance contract liabilities valuation
 adjust the gross policy cash flows to reflect projected cash flows
 from ceded reinsurance. The cash flow impact of ceded reinsurance
 varies depending upon the amount of reinsurance, the structure of
 reinsurance treaties, the expected economic benefit from treaty
 cash flows and the impact of margins for adverse deviation. Gross
 insurance contract liabilities are determined by discounting gross
 policy cash flows using the same discount rate as the net CALM
 model discount rate.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The reinsurance asset is determined by taking the difference
 between the gross insurance contract liabilities and the net
 insurance contract liabilities. The reinsurance asset represents
 the benefit derived from reinsurance arrangements in force at the
 date of the Consolidated Statements of Financial Position.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The period used for the projection of cash flows is the policy
 lifetime for most individual insurance contracts. For other types
 of contracts, a shorter projection period may be used, with the
 contract generally ending at the earlier of the first renewal date
 on or after&amp;#xA0;the Consolidated Statements of Financial Position
 date where the Company can exercise discretion in renewing its
 contractual obligations or terms of those obligations and the
 renewal or adjustment date that maximizes the insurance contract
 liabilities. For segregated fund products with guarantees, the
 projection period is generally set as the period that leads to the
 largest insurance contract liability. Where the projection period
 is less than the policy lifetime, insurance contract liabilities
 may be reduced by an allowance for acquisition expenses expected to
 be recovered from policy cash flows beyond the projection period
 used for the liabilities. Such allowances are tested for
 recoverability using assumptions that are consistent with other
 components of the actuarial valuation.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Composition&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The composition of insurance contract liabilities and reinsurance
 assets by the line of business and reporting segment is as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Gross insurance contract
 liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="43%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;Individual
 insurance&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Participating&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;participating&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Annuities&lt;br /&gt;
 and&lt;br /&gt;
 pensions&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total, net of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total,&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;gross of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asia&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;38,470&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;29,547&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,062&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,048&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;76,127&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,332&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;77,459&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,743&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;34,677&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;18,339&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,869&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;76,628&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(202&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;76,426&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,673&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;63,412&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,125&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;44,932&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;133,142&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;41,695&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;174,837&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(601&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;46&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;387&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(168&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(68&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, net of reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;57,886&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;127,035&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;39,572&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;61,236&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;285,729&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;42,925&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11,596&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,303&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17,927&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,099&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;42,925&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, gross of reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;69,482&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;139,338&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;57,499&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;62,335&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" height="16" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#FFFFFF" valign="bottom" colspan="6" align="center"&gt;Individual
 insurance&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Participating&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;participating&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Annuities&lt;br /&gt;
 and&lt;br /&gt;
 pensions&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total, net of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total,&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;gross of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asia&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,737&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22,705&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,366&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,435&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;62,243&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;911&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;63,154&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34,091&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,141&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,834&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;76,198&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(676&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;75,522&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,569&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;57,599&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26,161&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;43,522&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;135,851&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;29,952&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;165,803&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(515&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;48&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;421&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;172&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;126&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, net of reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;52,438&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;113,880&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;49,716&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;58,212&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;274,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;30,359&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;304,605&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;11,492&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;11,238&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;6,539&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,090&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;30,359&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, gross of reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;63,930&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;125,118&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;56,255&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;59,302&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;304,605&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other insurance contract liabilities include group
 insurance and individual and group health including long-term care
 insurance.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 9pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Separate&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;sub-accounts&lt;/font&gt;&amp;#xA0;were
 established for participating
 policies&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;at the
 demutualization of MLI and John Hancock Mutual Life Insurance
 Company. These&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;sub-accounts&lt;/font&gt;&amp;#xA0;permit
 this participating business to be operated as separate
 &amp;#x201C;closed blocks&amp;#x201D; of participating policies. As at
 December&amp;#xA0;31, 2018, $28,790 (2017 &amp;#x2013; $28,135) of both
 assets and insurance contract liabilities were related to these
 closed blocks of participating policies.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Assets backing insurance contract
 liabilities, other liabilities and capital&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Assets are segmented and matched to liabilities with similar
 underlying characteristics by product line and major currency. The
 Company has established target investment strategies and asset
 mixes for each asset segment supporting insurance contract
 liabilities which consider the risk attributes of the liabilities
 supported by the assets and expectations of market performance.
 Liabilities with rate and term guarantees are predominantly backed
 by fixed-rate instruments on a cash flow matching basis for a
 targeted duration horizon. Longer duration cash flows on these
 liabilities as well as on adjustable products such as participating
 life insurance are backed by a broader range of asset classes,
 including equity and alternative long-duration investments. The
 Company&amp;#x2019;s capital is invested in a range of debt and equity
 investments, both public and private.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Changes in the fair value of assets backing net insurance contract
 liabilities, that the Company considers to be other than temporary,
 would have a limited impact on the Company&amp;#x2019;s net income
 wherever there is an effective matching of assets and liabilities,
 as these changes would be substantially offset by corresponding
 changes in the value of net insurance contract liabilities. The
 fair value of assets backing net insurance contract liabilities as
 at December&amp;#xA0;31, 2018, excluding reinsurance assets, was
 estimated at $287,326 (2017 &amp;#x2013; $278,521).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 As at December&amp;#xA0;31, 2018, the fair value of assets backing
 capital and other liabilities was estimated at $465,497 (2017
 &amp;#x2013; $456,278).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the carrying value of assets backing
 net insurance contract liabilities, other liabilities and
 capital.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="45%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;Individual
 insurance&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Participating&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;participating&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Annuities&lt;br /&gt;
 and pensions&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Capital&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;67,387&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;20,469&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;28,435&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,061&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;28,308&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;185,594&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,416&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,562&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;172&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;262&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;589&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,178&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,218&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,111&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,972&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;21,295&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;35&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,363&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,151&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,131&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,960&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,581&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,772&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;159&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,106&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,028&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,799&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;397&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;233&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,777&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9,061&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;22,816&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,785&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,427&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;374,418&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;23,097&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;448,604&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;57,886&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;127,035&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;39,572&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;61,236&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;408,532&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;56,010&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;750,271&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" height="16" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#FFFFFF" valign="bottom" colspan="6" align="center"&gt;Individual
 insurance&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Participating&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;participating&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Annuities&lt;br /&gt;
 and pensions&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Capital&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;27,946&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;63,128&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26,621&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;25,211&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,635&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24,459&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;174,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9,264&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,855&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;171&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;332&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,029&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,894&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21,545&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,017&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,286&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,009&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,891&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,476&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;63&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,645&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,128&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,059&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,739&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;367&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,963&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,198&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,136&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,516&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;769&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;228&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,810&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;6,603&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;16,285&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;6,720&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;15,523&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;377,352&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;20,821&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;443,304&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;52,438&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;113,880&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;49,716&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;58,212&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;404,628&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;50,659&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;729,533&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other insurance contract liabilities include group
 insurance and individual and group health including long-term care
 insurance.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other liabilities are&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-insurance&lt;/font&gt;&amp;#xA0;contract
 liabilities which include segregated funds, bank deposits,
 long-term debt, deferred tax liabilities, derivatives, investment
 contracts, embedded derivatives and other miscellaneous
 liabilities.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Capital is defined in note 13.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Significant insurance contract
 liability valuation assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The determination of insurance contract liabilities involves the
 use of estimates and assumptions. Insurance contract liabilities
 have two major components: a best estimate amount and a provision
 for adverse deviation.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Best estimate assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Best estimate assumptions are made with respect to mortality and
 morbidity, investment returns, rates of policy termination,
 operating expenses and certain taxes. Actual experience is
 monitored to ensure that assumptions remain appropriate and
 assumptions are changed as warranted. Assumptions are discussed in
 more detail in the following table.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="9%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td width="42%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td width="42%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td style="BORDER-TOP: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" height="5" colspan="3"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: rgb(0,0,0) 1px solid; BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" height="5" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="bottom" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Nature of factor and assumption
 methodology&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" bgcolor="#E8EAE6" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Risk management&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Mortality&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;and&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;morbidity&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Mortality relates to the occurrence of death. Mortality is a key
 assumption for life insurance and certain forms of annuities.
 Mortality assumptions are based on the Company&amp;#x2019;s internal
 experience as well as past and emerging industry experience.
 Assumptions are differentiated by sex, underwriting class, policy
 type and geographic market. Assumptions are made for future
 mortality improvements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Morbidity relates to the occurrence of accidents and sickness for
 insured risks. Morbidity is a key assumption for long-term care
 insurance, disability insurance, critical illness and other forms
 of individual and group health benefits. Morbidity assumptions are
 based on the Company&amp;#x2019;s internal experience as well as past
 and emerging industry experience and are established for each type
 of morbidity risk and geographic market. Assumptions are made for
 future morbidity improvements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company maintains underwriting standards to determine the
 insurability of applicants. Claim trends are monitored on an
 ongoing basis. Exposure to large claims is managed by establishing
 policy retention limits, which vary by market and geographic
 location. Policies in excess of the limits are reinsured with other
 companies.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Mortality is monitored monthly and the overall 2018 experience was
 favourable (2017 &amp;#x2013; unfavourable) when compared to the
 Company&amp;#x2019;s assumptions. Morbidity is also monitored monthly
 and the overall 2018 experience was unfavourable (2017 &amp;#x2013;
 unfavourable) when compared to the Company&amp;#x2019;s assumptions.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Investment returns&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company segments assets to support liabilities by business
 segment and geographic market and establishes investment strategies
 for each liability segment. Projected cash flows from these assets
 are combined with projected cash flows from future asset
 purchases/sales to determine expected rates of return on these
 assets for future years. Investment strategies are based on the
 target investment policies for each segment and the reinvestment
 returns are derived from current and projected market rates for
 fixed income investments and a projected outlook for other
 alternative long-duration assets.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment return assumptions include expected future asset credit
 losses on fixed income investments. Credit losses are projected
 based on past experience of the Company and industry as well as
 specific reviews of the current investment portfolio.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment return assumptions for each asset class and geographic
 market also incorporate expected investment management expenses
 that are derived from internal cost studies. The costs are
 attributed to each asset class to develop unitized assumptions per
 dollar of asset for each asset class and geographic market.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company&amp;#x2019;s policy of closely matching asset cash flows
 with those of the corresponding liabilities is designed to mitigate
 the Company&amp;#x2019;s exposure to future changes in interest rates.
 The interest rate risk positions in business segments are monitored
 on an ongoing basis. Under CALM, the reinvestment rate is developed
 using interest rate scenario testing and reflects the interest rate
 risk positions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 In 2018, the movement in interest rates positively
 (2017&amp;#xA0;&amp;#x2013;&amp;#xA0;negatively) impacted the Company&amp;#x2019;s
 net income. This positive impact was driven by an increase in
 corporate spreads, partially offset by the impact of risk free
 interest rate movements and swap spreads on policy liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The exposure to credit losses is managed against policies that
 limit concentrations by issuer, corporate connections, ratings,
 sectors and geographic regions. On participating policies and
 some&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-participating&lt;/font&gt;&amp;#xA0;policies,
 credit loss experience is passed back to policyholders through the
 investment return crediting formula. For other policies, premiums
 and benefits reflect the Company&amp;#x2019;s assumed level of future
 credit losses at contract inception or most recent contract
 adjustment date. The Company holds explicit provisions in actuarial
 liabilities for credit risk including provisions for adverse
 deviation.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 In 2018, credit loss experience on debt securities and mortgages
 was favourable (2017 &amp;#x2013; favourable) when compared to the
 Company&amp;#x2019;s assumptions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Equities, real estate and other alternative long-duration assets
 are used to support liabilities where investment return experience
 is passed back to policyholders through dividends or credited
 investment return adjustments. Equities, real estate, oil and gas
 and other alternative long-duration assets are also used to support
 long-dated obligations in the Company&amp;#x2019;s annuity and pension
 businesses and for long-dated insurance obligations on contracts
 where the investment return risk is borne by the Company.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 In 2018, investment experience on alternative long-duration assets
 backing policyholder liabilities was unfavourable
 (2017&amp;#xA0;&amp;#x2013; unfavourable) primarily due to losses in oil and
 gas properties, real estate properties and private equities. In
 2018, alternative long-duration asset origination exceeded (2017
 &amp;#x2013; exceeded) valuation requirements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 In 2018, for the business that is dynamically hedged, segregated
 fund guarantee experience on
 residual,&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-dynamically&lt;/font&gt;&amp;#xA0;hedged
 market risks was unfavourable (2017&amp;#xA0;&amp;#x2013; favourable). For
 the business that is not dynamically hedged, experience on
 segregated fund guarantees due to changes in the market value of
 assets under management was also unfavourable (2017 &amp;#x2013;
 favourable). This excludes the experience on the macro equity
 hedges.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 In 2018, investment expense experience was unfavourable (2017
 &amp;#x2013; unfavourable) when compared to the Company&amp;#x2019;s
 assumptions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Policy termination and premium
 persistency&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Policies are terminated through lapses and surrenders, where lapses
 represent the termination of policies due
 to&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-payment&lt;/font&gt;&amp;#xA0;of
 premiums and surrenders represent the voluntary termination of
 policies by policyholders. Premium persistency represents the level
 of ongoing deposits on contracts where there is policyholder
 discretion as to the amount and timing of deposits. Policy
 termination and premium persistency assumptions are primarily based
 on the Company&amp;#x2019;s recent experience adjusted for expected
 future conditions. Assumptions reflect differences by type of
 contract within each geographic market.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company seeks to design products that minimize financial
 exposure to lapse, surrender and premium persistency risk. The
 Company monitors lapse, surrender and persistency experience.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 In aggregate, 2018 policyholder termination and premium persistency
 experience was unfavourable (2017 &amp;#x2013; unfavourable) when
 compared to the Company&amp;#x2019;s assumptions used in the computation
 of actuarial liabilities.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Expenses and taxes&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Operating expense assumptions reflect the projected costs of
 maintaining and servicing&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;policies,
 including associated overhead expenses. The expenses are derived
 from internal cost studies projected into the future with an
 allowance for inflation. For some developing businesses, there is
 an expectation that unit costs will decline as these businesses
 grow.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Taxes reflect assumptions for future premium taxes and
 other&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-income&lt;/font&gt;&amp;#xA0;related
 taxes. For income taxes, policy liabilities are adjusted only for
 temporary tax timing and permanent tax rate differences on the cash
 flows available to satisfy policy obligations.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company prices its products to cover the expected costs of
 servicing and maintaining them. In addition, the Company monitors
 expenses monthly, including comparisons of actual expenses to
 expense levels allowed for in pricing and valuation.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Maintenance expenses for 2018 were unfavourable
 (2017&amp;#xA0;&amp;#x2013;&amp;#xA0;unfavourable) when compared to the
 Company&amp;#x2019;s assumptions used in the computation of actuarial
 liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company prices its products to cover the expected cost of
 taxes.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Policyholder&amp;#xA0; dividends, experience
 rating refunds, and&amp;#xA0; other adjustable policy
 elements&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The best estimate projections for policyholder dividends and
 experience rating refunds, and other adjustable elements of policy
 benefits are determined to be consistent with management&amp;#x2019;s
 expectation of how these elements will be managed should experience
 emerge consistently with the best estimate assumptions used for
 mortality and morbidity, investment returns, rates of policy
 termination, operating expenses and taxes.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company monitors policy experience and adjusts policy benefits
 and other adjustable elements to reflect this experience.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Policyholder dividends are reviewed annually for all businesses
 under a framework of Board-approved policyholder dividend
 policies.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Foreign currency&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Foreign currency risk results from a mismatch of the currency of
 liabilities and the currency of the assets designated to support
 these obligations. Where a currency mismatch exists, the assumed
 rate of return on the assets supporting the liabilities is reduced
 to reflect the potential for adverse movements in foreign exchange
 rates.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company generally matches the currency of its assets with the
 currency of the liabilities they support, with the objective of
 mitigating the risk of loss arising from movements in currency
 exchange rates.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company reviews actuarial methods and assumptions on an annual
 basis. If changes are made to assumptions (refer to note 7(h)), the
 full impact is recognized in income immediately.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(e) Sensitivity of insurance contract
 liabilities to changes in&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-economic&lt;/font&gt;&amp;#xA0;assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The sensitivity of net income attributed to shareholders to changes
 in&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-economic&lt;/font&gt;&amp;#xA0;assumptions
 underlying insurance contract liabilities is shown below, assuming
 a simultaneous change in the assumption across all business units.
 The sensitivity of net income attributed to shareholders to a
 deterioration or improvement in&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-economic&lt;/font&gt;&amp;#xA0;assumptions
 for Long-Term Care (&amp;#x201C;LTC&amp;#x201D;) as at December&amp;#xA0;31, 2018
 is also shown below.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In practice, experience for each assumption will frequently vary by
 geographic market and business and assumption updates are made on a
 business/geographic specific basis. Actual results can differ
 materially from these estimates for a variety of reasons including
 the interaction among these factors when more than one changes;
 changes in actuarial and investment return and future investment
 activity assumptions; changes in business mix, effective tax rates
 and other market factors; and the general limitations of internal
 models.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders arising from changes
 to&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-economic&lt;/font&gt;&amp;#xA0;assumptions&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="87%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" rowspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Decrease in net income&lt;br /&gt;
 attributed to shareholders&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Policy related assumptions&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2% adverse change in future mortality rates&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2),(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Products where an increase in rates increases insurance contract
 liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(400&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Products where a decrease in rates increases insurance contract
 liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5% adverse change in future morbidity rates (incidence and
 termination)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3),(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(5,100&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 10% adverse change in future policy termination rates&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,200&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,100&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5% increase in future expense levels&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(600&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(500&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes
 in&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-economic&lt;/font&gt;&amp;#xA0;assumptions.
 Experience gains or losses would generally result in changes to
 future dividends, with no direct impact to shareholders.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;An increase in mortality rates will generally increase
 policy liabilities for life insurance contracts whereas a decrease
 in mortality rates will generally increase policy liabilities for
 policies with longevity risk such as payout annuities.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;No amounts related to morbidity risk are included for
 policies where the policy liability provides only for claims costs
 expected over a short period, generally less than one year, such as
 Group Life and Health.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The impacts of the adverse sensitivities on LTC for
 morbidity, mortality and lapse do not assume any partial offsets
 from the Company&amp;#x2019;s ability to contractually raise premium
 rates in such events, subject to state regulatory approval. In
 practice, the Company would plan to file for rate increases equal
 to the amount of deterioration resulting from the sensitivity.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;This includes a 5% deterioration in incidence rates
 and 5% deterioration in claim termination rates.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders arising from changes
 to&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-economic&lt;/font&gt;&amp;#xA0;assumptions
 for Long-Term Care included in the above table&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;(1),(2)&lt;/sup&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="91%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Decrease&amp;#xA0;in&amp;#xA0;net&amp;#xA0;income&lt;br /&gt;
 attributed&amp;#xA0;to&amp;#xA0;shareholders&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Policy related assumptions&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2% adverse change in future mortality rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(200&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5% adverse change in future morbidity incidence rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,700&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5% adverse change in future morbidity claims termination rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,800&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 10% adverse change in future policy termination rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(400&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5% increase in future expense levels&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(100&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The impacts of the adverse sensitivities on LTC for
 morbidity, mortality and lapse do not assume any partial offsets
 from the Company&amp;#x2019;s ability to contractually raise premium
 rates in such events, subject to state regulatory approval. In
 practice, the Company would plan to file for rate increases equal
 to the amount of deterioration resulting from the
 sensitivities.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The impact of favourable changes to all the
 sensitivities is relatively symmetrical.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(f) Provision for adverse deviation
 assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The assumptions made in establishing insurance contract liabilities
 reflect expected best estimates of future experience. To recognize
 the uncertainty in these best estimate assumptions, to allow for
 possible misestimation of and deterioration in experience and to
 provide a greater degree of assurance that the insurance contract
 liabilities are adequate to pay future benefits, the Appointed
 Actuary is required to include a margin in each assumption.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Margins are released into future earnings as the policy is released
 from risk. Margins for interest rate risk are included by testing a
 number of scenarios of future interest rates. The margin can be
 established by testing a limited number of scenarios, some of which
 are prescribed by the Canadian Actuarial Standards of Practice, and
 determining the liability based on the worst outcome.
 Alternatively, the margin can be set by testing many scenarios,
 which are developed according to actuarial guidance. Under this
 approach, the liability would be the average of the outcomes above
 a percentile in the range prescribed by the Canadian Actuarial
 Standards of Practice.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Specific guidance is also provided for other risks such as market,
 credit, mortality and morbidity risks. For other risks which are
 not specifically addressed by the Canadian Institute of Actuaries,
 a range is provided of five per cent to 20&amp;#xA0;per cent of the
 expected experience assumption. The Company uses assumptions within
 the permissible ranges, with the determination of the level set
 considering the risk profile of the business. On occasion, in
 specific circumstances for additional prudence, a margin may exceed
 the high end of the range, which is permissible under the Canadian
 Actuarial Standards of Practice. This additional margin would be
 released if the specific circumstances which led to it being
 established were to change.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Each margin is reviewed annually for continued appropriateness.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(g) Change in insurance contract
 liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The change in insurance contract liabilities was a result of the
 following business activities and changes in actuarial
 estimates.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="60%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net&amp;#xA0;actuarial&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Other&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Reinsurance&lt;br /&gt;
 assets&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Gross&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;263,091&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,155&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;274,246&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,359&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;304,605&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 New policies&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,269&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,269&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;388&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,657&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Normal&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;movement&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,044&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;985&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,029&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,150&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,879&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in methods and assumptions&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(173&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(174&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(608&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(782&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of annuity coinsurance transactions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(11,156&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(11,156&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,156&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15,686&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;829&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16,515&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,780&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19,295&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;272,761&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,968&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;285,729&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;42,925&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net actuarial&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Other&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Reinsurance&lt;br /&gt;
 assets&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Gross&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;251,738&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,815&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;262,553&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34,952&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;297,505&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 New policies&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,545&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,545&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;441&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,986&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Normal&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;movement&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,192&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;930&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,122&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3,097&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,025&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in methods and assumptions&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;305&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(28&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;277&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of U.S. Tax Reform&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3),(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Increase due to decision to change the portfolio asset mix
 supporting legacy businesses&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,340&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,340&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;43&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,383&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(11,275&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(562&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(11,837&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(2,027&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(13,864&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;263,091&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;11,155&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;274,246&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;30,359&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;304,605&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 2px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other insurance contract liabilities are comprised of
 benefits payable and provision for unreported claims and
 policyholder amounts on deposit.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2018, the $2,907 increase reported as the change in
 insurance contract liabilities on the Consolidated Statements of
 Income primarily consists of changes due to normal in-force
 movement, new policies and changes in methods and assumptions.
 These three items in the gross insurance contract liabilities were
 netted off by an increase of $4,754, of which $3,632 is included in
 the Consolidated Statements of Income increase in insurance
 contract liabilities and $1,122 is included in gross claims and
 benefits. The Consolidated Statements of Income change in insurance
 contract liabilities also includes the change in embedded
 derivatives associated with insurance contracts. The Company
 finalized its estimate of U.S. Tax reform which resulted in a
 $196&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pre-tax&lt;/font&gt;&amp;#xA0;($154&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax)&lt;/font&gt;&amp;#xA0;increase
 in insurance contract liabilities, refer to note 5.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2017, the $20,023 increase reported as the change
 in insurance contract liabilities on the Consolidated Statements of
 Income primarily consists of changes due to
 normal&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;movement,
 new policies, changes in methods and assumptions, the impact of
 U.S. Tax Reform and the increase due to the decision to change the
 portfolio asset mix supporting legacy businesses. These five items
 in the gross insurance contract liabilities were netted off by an
 increase of $20,964, of which $20,212 is included in the
 Consolidated Statements of Income increase in insurance contract
 liabilities and $752 is included in gross claims and benefits. The
 Consolidated Statements of Income change in insurance contract
 liabilities also includes the change in embedded derivatives
 associated with insurance contracts.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2017, the impact of U.S. Tax Reform, which includes
 the lowering of the U.S. corporate tax rate from 35% to 21% and
 limits on the tax deductibility of reserves, resulted in a
 $2,246&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pre-tax&lt;/font&gt;&amp;#xA0;($1,774&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax)&lt;/font&gt;&amp;#xA0;increase
 in policy liabilities due to the impact of temporary tax timing and
 permanent tax rate differences on the cash flows available to
 satisfy policyholder obligations. The $472 deferred tax impact on
 this increase in policy liabilities, together with the impact of
 U.S. Tax Reform on the Company&amp;#x2019;s deferred tax assets and
 liabilities is included in note&amp;#xA0;5.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2017, the decision to reduce the allocation to ALDA
 in the portfolio asset mix supporting the Company&amp;#x2019;s North
 American legacy businesses resulted in an increase in policy
 liabilities due to the impact on future expected investment income
 on assets supporting the policies.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(h) Actuarial methods and
 assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 A comprehensive review of valuation assumptions and methods is
 performed annually. The review reduces the Company&amp;#x2019;s exposure
 to uncertainty by ensuring assumptions for both asset and liability
 related risks remain appropriate. This is accomplished by
 monitoring experience and updating assumptions which represent a
 best estimate view of future experience, and margins that are
 appropriate for the risks assumed. While the assumptions selected
 represent the Company&amp;#x2019;s current best estimates and assessment
 of risk, the ongoing monitoring of experience and the economic
 environment is likely to result in future changes to the valuation
 assumptions, which could be material.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Annual review 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The completion of the 2018 annual review of actuarial methods and
 assumptions resulted in a decrease in insurance contract
 liabilities of $174, net of reinsurance, and a decrease in net
 income attributed to shareholders of
 $51&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="86%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Change in insurance contract liabilities,&lt;br /&gt;
 net of reinsurance&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Attributed to&lt;br /&gt;
 participating&lt;br /&gt;
 policyholders&amp;#x2019;&lt;br /&gt;
 account&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Attributed to&lt;br /&gt;
 shareholders&amp;#x2019;&lt;br /&gt;
 account&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Change&amp;#xA0;in&amp;#xA0;net&lt;br /&gt;
 income&amp;#xA0;attributed&lt;br /&gt;
 to shareholders&lt;br /&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;(post-tax)&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortality and morbidity updates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;319&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;(192&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;511&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;(360&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Lapses and policyholder behaviour&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;287&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;287&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(226&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment return assumptions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(96&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;50&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(146&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;143&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other updates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(684&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(94&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(590&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;392&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net impact&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;(174&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;(236&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;62&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(51&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Updates to mortality and morbidity
 assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Mortality and morbidity updates resulted in a
 $360&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax&lt;/font&gt;&amp;#xA0;charge to
 net income attributed to shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The primary driver of the charge is related to updates to mortality
 and morbidity assumptions for the Company&amp;#x2019;s structured
 settlement and term renewal business in Canada. A review of
 mortality assumptions for the Company&amp;#x2019;s U.S. group pension
 annuity business and certain blocks of life insurance business
 resulted in a small charge to earnings, and other updates to
 mortality and morbidity assumptions led to a small net charge.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Updates to lapses and policyholder
 behaviour&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Lapse and policyholder behaviour updates resulted in a
 $226&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax&lt;/font&gt;&amp;#xA0;charge to
 net income attributed to shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The primary driver of the charge is related to updated lapse and
 premium persistency rates for certain U.S. insurance product lines
 ($252&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax&lt;/font&gt;&amp;#xA0;charge).
 This included updates to universal
 life&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;no-lapse&lt;/font&gt;&amp;#xA0;guarantee
 business lapse assumptions to better reflect emerging experience,
 which showed a variation in lapses based on premium funding levels,
 partially offset by favourable lapse experience on several of the
 U.S. life insurance product lines.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Other updates to lapse and policyholder behaviour assumptions were
 made across several product lines to reflect recent experience.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Updates to investment return
 assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Investment return assumption updates resulted in a
 $143&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax&lt;/font&gt;&amp;#xA0;gain to net
 income attributed to shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company updated its bond default rates to reflect recent
 experience, leading to a $401&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax&lt;/font&gt;&amp;#xA0;gain and
 updated the investment return assumptions for ALDA and public
 equities, specifically oil and gas, which led to a
 $210&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax&lt;/font&gt;&amp;#xA0;charge.
 Other refinements to the projections of investment returns resulted
 in a $48&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax&lt;/font&gt;&amp;#xA0;charge.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Other updates&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Refinements to the projection of the tax and liability cashflows
 across multiple product lines led to
 a&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax&lt;/font&gt;&amp;#xA0;gain to net
 income attributed to shareholders of $392. The refinements were
 primarily driven by the projection of tax cashflows as the Company
 reviewed the deductibility of certain reserves. In addition, the
 Company refined the projection of policyholder crediting rates for
 certain products.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Annual Review 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The quantification of the impact of the 2017 comprehensive review
 of valuation methods and assumptions is as of July&amp;#xA0;1, 2017 for
 all lines of business.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The 2017 full year review of actuarial methods and assumptions
 resulted in an increase in insurance and investment contract
 liabilities of $277, net of reinsurance, and a decrease in net
 income attributed to shareholders of
 $35&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax.&lt;/font&gt;&amp;#xA0;These
 charges exclude the impacts of the U.S. Tax Reform and reducing the
 allocation to ALDA in the Company&amp;#x2019;s portfolio asset mix. The
 charge to net income in the fourth quarter of 2017 for these two
 items was $2.8&amp;#xA0;billion, which primarily related to
 the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax&lt;/font&gt;&amp;#xA0;change in
 policy liabilities. Refer to notes 5 and 7(g) for further
 details.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="85%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="10" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Change in insurance contract liabilities,&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;net of reinsurance&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Attributed to&lt;br /&gt;
 participating&lt;br /&gt;
 policyholders&amp;#x2019;&lt;br /&gt;
 account&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Attributed to&lt;br /&gt;
 shareholders&amp;#x2019;&lt;br /&gt;
 account&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Change&amp;#xA0;in&amp;#xA0;net&lt;br /&gt;
 income&amp;#xA0;attributed&lt;br /&gt;
 to shareholders&lt;br /&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;(post-tax)&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortality and morbidity updates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(254&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(263&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;299&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Lapses and policyholder behaviour&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,019&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,019&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(783&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other updates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 ALDA and public equity investment return assumptions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,296&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,291&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(892&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate spread assumptions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(515&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(514&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;344&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Refinements to liability and tax cash flows&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,049&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,049&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;696&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(220&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;84&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(304&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;301&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net impact&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;277&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;97&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;180&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(35&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Updates to mortality and morbidity
 assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Mortality and morbidity updates resulted in a $299 benefit to net
 income attributed to shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company completed a detailed review of the mortality
 assumptions for its U.S. life insurance business which resulted in
 a $384 charge to net income attributed to shareholders. Assumptions
 were increased, particularly at older ages, reflecting both
 industry and the Company&amp;#x2019;s own experience.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Updates to actuarial standards related to future mortality
 improvement, and the review of mortality improvement assumptions
 globally, resulted in a $264 benefit to net income attributed to
 shareholders primarily in Canada and Asia. The updated actuarial
 standards include a diversification benefit for the determination
 of margins for adverse deviation which recognizes the offsetting
 impact of longevity and mortality risk.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company completed a detailed review of mortality assumptions
 for its Canadian retail insurance business which resulted in a $222
 benefit to net income attributed to shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Other updates to mortality and morbidity assumptions led to a $197
 benefit to net income attributed to shareholders. These updates
 included a reduction in the margins for adverse deviation applied
 to morbidity assumptions for certain medical insurance products in
 Japan.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Updates to lapses and policyholder
 behaviour&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Updates to lapses and policyholder behaviour assumptions resulted
 in a $783 charge to net income attributed to shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In Canadian retail insurance, lapse assumptions were reduced for
 certain universal life products to reflect recent experience,
 leading to a $315 charge to net income attributed to
 shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 For Canadian segregated fund guaranteed minimum withdrawal benefit
 lapses, incidence and utilization assumptions were updated to
 reflect recent experience which led to a $242 charge to net income
 attributed to shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Other updates to lapse and policyholder behaviour assumptions were
 made across several product lines including a reduction in lapse
 assumptions for the Company&amp;#x2019;s whole life insurance products
 in Japan, leading to a $226 charge to net income attributed to
 shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Other updates&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Other updates resulted in a $449 benefit to net income attributed
 to shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company reviewed its investment return assumptions for ALDA and
 public equities, which in aggregate led to a reduction in return
 assumptions and a $892 charge to net income attributed to
 shareholders. The Company also reviewed future corporate spread
 assumptions, which led to a $344 benefit to net income attributed
 to shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Refinements to the projection of the Company&amp;#x2019;s liability and
 tax cash flows in the U.S. resulted in a $696 benefit to net income
 attributed to shareholders. These changes included refinements to
 the projection of policyholder crediting rates for certain
 universal life insurance products.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Other refinements resulted in a $301 benefit to net income
 attributed to shareholders. These changes included a review of
 provisions for reinsurance counterparty credit risk and several
 other refinements to the projection of both the Company&amp;#x2019;s
 asset and liability cash flows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(i) Insurance contracts contractual
 obligations&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Insurance contracts give rise to obligations fixed by agreement. As
 at December&amp;#xA0;31, 2018, the Company&amp;#x2019;s contractual
 obligations and commitments relating to insurance contracts are as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="63%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Payments due by period&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Less&amp;#xA0;than&lt;br /&gt;
 1 year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 to 3&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;3 to 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Over 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Insurance contract liabilities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;9,327&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;10,863&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;17,994&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;750,238&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;788,422&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Insurance contract liability cash flows include
 estimates related to the timing and payment of death and disability
 claims, policy surrenders, policy maturities, annuity payments,
 minimum guarantees on segregated fund products, policyholder
 dividends, commissions and premium taxes offset by contractual
 future premiums on&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;contracts.
 These estimated cash flows are based on the best estimate
 assumptions used in the determination of insurance contract
 liabilities. These amounts are undiscounted and reflect recoveries
 from reinsurance agreements. Due to the use of assumptions, actual
 cash flows may differ from these estimates. Cash flows include
 embedded derivatives measured separately at fair value.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(j) Gross claims and
 benefits&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents a breakdown of gross claims and
 benefits.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="92%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Death, disability and other claims&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,174&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,871&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Maturity and surrender benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,722&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,302&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuity payments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,262&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,470&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policyholder dividends and experience rating refunds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,809&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,085&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net transfers from segregated funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,089&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,734&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;27,878&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;24,994&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(k) Annuity coinsurance
 transactions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 On September&amp;#xA0;26, 2018, the Company entered into coinsurance
 agreements with Reinsurance Group of America (&amp;#x201C;RGA&amp;#x201D;) to
 reinsure a block of legacy U.S.
 individual&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pay-out&lt;/font&gt;&amp;#xA0;annuities
 business from John Hancock Life Insurance Company (U.S.A.)
 (&amp;#x201C;JHUSA&amp;#x201D;) and John Hancock Life Insurance Company of
 New York (&amp;#x201C;JHNY&amp;#x201D;).&amp;#xA0;Under the terms of the
 agreements, the Company will maintain responsibility for servicing
 the policies.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The JHUSA transaction closed with an effective date of July&amp;#xA0;1,
 2018 with a 100% quota share. The transaction was structured such
 that the Company ceded policyholder contract liabilities and
 transferred related invested assets backing these liabilities. The
 Company recorded an&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;after-tax&lt;/font&gt;&amp;#xA0;loss of
 $74 at the inception of the agreement, consisting of ceded premiums
 of $3.7&amp;#xA0;billion and an increase of reinsurance assets of
 $3.6&amp;#xA0;billion on the Consolidated Statements of Income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 On October&amp;#xA0;31, 2018, the Company entered into coinsurance
 agreements with Jackson National Life Insurance Company
 (&amp;#x201C;Jackson&amp;#x201D;), a wholly-owned subsidiary of Prudential
 plc, to reinsure a block of legacy U.S.
 group&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pay-out&lt;/font&gt;&amp;#xA0;annuities
 business from JHUSA and JHNY. Under the terms of the agreements,
 the Company will maintain responsibility for servicing the
 policies.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The JHUSA transaction closed with an effective date of
 October&amp;#xA0;1, 2018 with a 100% quota share. The transaction was
 structured such that the Company ceded policyholder contract
 liabilities and transferred related invested assets backing these
 liabilities. The Company recorded an&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;after-tax&lt;/font&gt;&amp;#xA0;gain of
 $142 at the inception of the agreement, consisting of ceded
 premiums of $7.0&amp;#xA0;billion and an increase of reinsurance assets
 of $7.5&amp;#xA0;billion on the Consolidated Statements of Income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The JHNY transaction with Jackson is expected to close separately
 in the first quarter of 2019. The JHNY transaction with RGA closed
 on February 7, 2019. These transactions are expected to result in
 an&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;after-tax&lt;/font&gt;&amp;#xA0;gain of
 approximately $80.&lt;/p&gt;


 &lt;/div&gt;</ifrs-full:DisclosureOfInsuranceContractsExplanatory>
  <ifrs-full:DisclosureOfInterestsInUnconsolidatedStructuredEntitiesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_AE736B33-734F-4FAC-89FB-240DBC77C7B5_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company&amp;#x2019;s interests and maximum exposure to loss from
 significant unconsolidated financing SEs are as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="82%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"&gt;Company&amp;#x2019;s interests&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 9pt"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Finance (Delaware), L.P.&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;821&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;835&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Financial Capital Trust II&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;999&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,000&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;1,820&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;1,835&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The Company&amp;#x2019;s interests include amounts borrowed
 from the SEs and the Company&amp;#x2019;s investment in their
 subordinated capital, and foreign currency and interest swaps with
 them, if any.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;This entity is a wholly-owned partnership used to
 facilitate the Company&amp;#x2019;s financing. Refer to notes 11 and
 18.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;This entity is an open-ended trust that is used to
 facilitate the Company&amp;#x2019;s financing. Refer to note 11.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfInterestsInUnconsolidatedStructuredEntitiesExplanatory>
  <ifrs-full:DisclosureOfIssuedCapitalExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_7211391D-38E6-4103-95A4-0BAEB4AC7806_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note
 13&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Capital Management&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Capital management&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company monitors and manages its consolidated capital in
 compliance with the Life Insurance Capital Adequacy Test
 (&amp;#x201C;LICAT&amp;#x201D;) guideline, the new capital framework issued
 by the Office of the Superintendent of Financial Institutions
 (&amp;#x201C;OSFI&amp;#x201D;) that became effective on January&amp;#xA0;1, 2018.
 Under this new capital framework, the Company&amp;#x2019;s consolidated
 capital resources, including available capital, surplus allowance,
 and eligible deposits, are measured against the base solvency
 buffer, which is the risk-based capital requirement determined in
 accordance with the guideline.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s operating activities are mostly conducted
 within MLI and its subsidiaries.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 MLI is also regulated by OSFI and is therefore subject to
 consolidated risk-based capital requirements using the OSFI LICAT
 framework.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company seeks to manage its capital with the objectives of:&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Operating with sufficient capital to be able to honour
 all commitments to its policyholders and creditors with a high
 degree of confidence;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Retaining the ongoing confidence of regulators,
 policyholders, rating agencies, investors and other creditors in
 order to ensure access to capital markets; and&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Optimizing return on capital to meet
 shareholders&amp;#x2019; expectations subject to constraints and
 considerations of adequate levels of capital established to meet
 the first two objectives.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Capital is managed and monitored in accordance with the Capital
 Management Policy. The policy is reviewed and approved by the Board
 of Directors annually and is integrated with the Company&amp;#x2019;s
 risk and financial management frameworks. It establishes guidelines
 regarding the quantity and quality of capital, internal capital
 mobility, and proactive management of ongoing and future capital
 requirements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The capital management framework takes into account the
 requirements of the Company as a whole as well as the needs of each
 of the Company&amp;#x2019;s subsidiaries. Internal capital targets are
 set above the regulatory requirements, and consider a number of
 factors, including expectations of regulators and rating agencies,
 results of sensitivity and stress testing and the Company&amp;#x2019;s
 own risk assessments. The Company monitors against these internal
 targets and initiates actions appropriate to achieving its business
 objectives.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Consolidated capital, based on accounting standards, is presented
 in the table below for MFC. For regulatory reporting purposes,
 LICAT available capital is based on consolidated capital with
 adjustments for certain deductions, limits and restrictions, as
 mandated by the LICAT guideline.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Consolidated capital&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total equity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;47,151&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;42,163&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Adjusted for AOCI loss on cash flow hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(127&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(109&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total equity excluding AOCI on cash flow hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;47,278&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;42,272&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Qualifying capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;8,387&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Consolidated capital&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56,010&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;50,659&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Restrictions on dividends and capital
 distributions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Dividends and capital distributions are restricted under the
 Insurance Company Act (&amp;#x201C;ICA&amp;#x201D;). These restrictions apply
 to both the Company and its primary operating subsidiary MLI. The
 ICA prohibits the declaration or payment of any dividend on shares
 of an insurance company if there are reasonable grounds for
 believing a company does not have adequate capital and adequate and
 appropriate forms of liquidity or the declaration or the payment of
 the dividend would cause the company to be in contravention of any
 regulation made under the ICA respecting the maintenance of
 adequate capital and adequate and appropriate forms of liquidity,
 or of any direction made to the company by OSFI. The ICA also
 requires an insurance company to notify OSFI of the declaration of
 a dividend at least 15 days prior to the date fixed for its
 payment. Similarly, the ICA prohibits the purchase for cancellation
 of any shares issued by an insurance company or the redemption of
 any redeemable shares or other similar capital transactions, if
 there are reasonable grounds for believing that the company does
 not have adequate capital and adequate and appropriate forms of
 liquidity or the payment would cause the company to be in
 contravention of any regulation made under the ICA respecting the
 maintenance of adequate capital and adequate and appropriate forms
 of liquidity, or any direction made to the company by OSFI. These
 latter transactions would require the prior approval of OSFI.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The ICA requires Canadian insurance companies to maintain adequate
 levels of capital at all times.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Since the Company is a holding company that conducts all of its
 operations through regulated insurance subsidiaries (or companies
 owned directly or indirectly by these subsidiaries), its ability to
 pay future dividends will depend on the receipt of sufficient funds
 from its regulated insurance subsidiaries. These subsidiaries are
 also subject to certain regulatory restrictions under laws in
 Canada, the United States and certain other countries that may
 limit their ability to pay dividends or make other upstream
 distributions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company and MLI have covenanted for the benefit of holders of
 the outstanding Trust II Notes &amp;#x2013; Series I (the
 &amp;#x201C;Notes&amp;#x201D;) that, if interest is not paid in full in cash
 on the Notes on any interest payment date or if MLI elects that
 holders of Notes invest interest payable on the Notes on any
 interest payment date in a new series of Manufacturers Life
 Class&amp;#xA0;1 Shares, MLI will not declare or pay cash dividends on
 any MLI Public Preferred Shares (as defined below), if any are
 outstanding, and if no MLI Public Preferred Shares are outstanding,
 MFC will not declare or pay cash dividends on its Preferred Shares
 and Common Shares, in each case, until the sixth month following
 such deferral date. &amp;#x201C;MLI Public Preferred Shares&amp;#x201D;
 means, at any time, preferred shares of MLI which at that time:
 (a)&amp;#xA0;have been issued to the public (excluding any preferred
 shares of MLI held beneficially by affiliates of MLI); (b) are
 listed on a recognized stock exchange; and (c)&amp;#xA0;have an
 aggregate liquidation entitlement of at least $200, however, if at
 any time, there is more than one class of MLI Public Preferred
 Shares outstanding, then the most senior class or classes of
 outstanding MLI Public Preferred Shares shall, for all purposes, be
 the MLI Public Preferred Shares.&lt;/p&gt;


 &lt;/div&gt;</ifrs-full:DisclosureOfIssuedCapitalExplanatory>
  <ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_75300F1E-3C78-487B-AE3C-0B13EED0DF98_1_400001" unitRef="shares">5000000</ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares>
  <ifrs-full:DirectOperatingExpenseFromInvestmentPropertyGeneratingRentalIncome contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_E3B961E1-5DA1-4C9E-84DB-C27A8802B09D_1_1" unitRef="iso4217_CAD">582000000</ifrs-full:DirectOperatingExpenseFromInvestmentPropertyGeneratingRentalIncome>
  <ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_460AAA9E-699E-4244-B7D6-498B47479302_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following tables present revenue from service contracts by
 service lines and reporting segments as disclosed in note 19.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 14pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="54%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Global&lt;br /&gt;
 WAM&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Corporate&lt;br /&gt;
 and&amp;#xA0;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment management and other related fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;328&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;149&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;521&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,805&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(236&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,567&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Transaction processing, administration, and service fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;226&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;854&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,939&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,036&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Distribution fees and other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;255&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;49&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;617&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;724&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(30&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,615&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total included in other revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;809&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,052&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,155&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,468&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(266&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,218&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate management services reported in net investment
 income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;31&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;160&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;147&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;348&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;840&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,212&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,302&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,468&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(256&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8,566&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Global&lt;br /&gt;
 WAM&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Corporate&lt;br /&gt;
 and&amp;#xA0;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment management and other related fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;351&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;137&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;569&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,397&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(232&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,222&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Transaction processing, administration, and service fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;206&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;871&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,978&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,075&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Distribution fees and other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;269&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;64&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;626&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;785&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(42&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,702&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total included in other revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;826&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,072&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,212&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,160&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(271&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,999&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate management services reported in net investment
 income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;22&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;161&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;156&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;344&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;848&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,233&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,368&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;5,160&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(266&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;8,343&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;br class="Apple-interchange-newline" /&gt;

 &lt;/div&gt;</ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory>
  <ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_7F566CF2-0564-41AB-BA3E-A2B4E57CEBE2_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 19&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Segmented
 Information&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, as a result of the organizational
 changes made to drive better alignment with the Company&amp;#x2019;s
 strategic priorities as well as to increase focus and leverage
 scale in its wealth and asset management businesses, the
 Company&amp;#x2019;s wealth and asset management businesses are now a
 primary reporting segment.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s reporting segments are Asia, Canada, U.S.,
 Global WAM and Corporate and Other. Each reporting segment is
 responsible for managing its operating results, developing
 products, defining strategies for services and distribution based
 on the profile and needs of its business and market. The
 Company&amp;#x2019;s significant product and service offerings are shown
 below.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;b&gt;Wealth and asset management businesses (Global
 WAM)&lt;/b&gt;&amp;#xA0;&amp;#x2013; include mutual funds and
 exchange-traded funds, group retirement and savings products, and
 institutional asset management services across all major asset
 classes. These products and services are distributed through
 multiple distribution channels, including agents and brokers
 affiliated with the Company, independent securities brokerage firms
 and financial advisors, pension plan consultants and banks.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;b&gt;Insurance and annuity products (Asia, Canada and
 U.S.)&lt;/b&gt;&amp;#xA0;&amp;#x2013; includes a variety of
 individual life insurance, individual and group long-term care
 insurance and guaranteed and partially guaranteed annuity products.
 Products are distributed through multiple distribution channels,
 including insurance agents, brokers, banks, financial planners and
 direct marketing. Manulife Bank of Canada offers a variety of
 deposit and credit products to Canadian customers.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;b&gt;Corporate and Other Segment&lt;/b&gt;&amp;#xA0;&amp;#x2013;
 comprised of investment performance on assets backing capital, net
 of amounts allocated to operating segments; costs incurred by the
 corporate office related to shareholder activities (not allocated
 to the operating segments); financing costs; Property and Casualty
 Reinsurance Business; and&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;run-off&lt;/font&gt;&amp;#xA0;reinsurance
 operations including variable annuities and accident and
 health.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In addition to changing the segments, the Company changed the
 segment reporting for the changes to actuarial methods and
 assumptions. These changes were previously reported in the
 Corporate and Other segment and are now reported in the respective
 reporting segments. Prior period amounts have been restated to
 reflect these changes.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;By segment&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="40%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at and for the year
 ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Global WAM&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Corporate&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,938&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,975&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,341&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;98&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,352&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,175&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;452&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9,967&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(6,340&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net premium income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;18,113&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;9,427&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,626&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;98&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24,012&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;278&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,764&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,723&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(225&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,532&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,296&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,446&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,542&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,472&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(328&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,428&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19,687&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,637&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;639&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,464&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(455&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;38,972&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,875&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,044&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,255&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23,137&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,986&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;518&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9,784&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;77&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7,203&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net benefits and claims&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,861&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,562&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(5,529&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;77&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest expense&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;187&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;447&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;583&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,275&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,749&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,063&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,428&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,322&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;682&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16,244&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17,797&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,072&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,045&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,401&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,228&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;33,453&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) before income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,890&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,565&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,684&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,063&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,683&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,519&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income tax recovery (expense)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(355&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(321&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(352&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(108&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;504&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(632&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,535&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,244&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,332&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;955&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,887&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Less net income (loss) attributed to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;&amp;#xA0;interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;208&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Participating policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(360&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;233&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(127&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss) attributed to shareholders&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,687&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,011&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,332&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;955&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,185&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;112,327&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;214,101&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;272,228&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;130,379&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;21,236&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;750,271&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at and for the year
 ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Global WAM&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Corporate&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,145&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,322&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,778&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;110&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24,355&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,568&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;443&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;844&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,855&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net premium income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,713&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,765&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,622&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;110&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;28,210&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,044&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,560&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,657&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;42&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;64&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,367&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;933&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,862&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,039&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,158&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(246&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;10,746&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;20,690&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;11,187&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;21,318&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,200&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(72&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;58,323&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,881&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,018&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,193&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;268&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;33,360&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,889&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,404&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,574&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;74&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,941&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net benefits and claims&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,770&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,422&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,767&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;74&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;268&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39,301&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest expense&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;164&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;36&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;631&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,139&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,360&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,069&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,374&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,193&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;386&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;15,382&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;18,294&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;10,798&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;21,177&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,268&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,285&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;55,822&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) before income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,396&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;389&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;141&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;932&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,357&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,501&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income tax recovery (expense)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(405&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;159&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,342&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;146&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,203&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(239&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,991&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;548&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,078&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(154&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,262&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Less net income (loss) attributed to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;&amp;#xA0;interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;187&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Participating policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(30&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(36&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss) attributed to shareholders&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;1,834&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;554&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(1,201&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;1,078&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(161&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;96,354&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;217,813&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;263,523&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;131,779&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;20,064&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;729,533&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;During the year, the Company ceded premiums to
 reinsure a block of legacy U.S. individual pay-out annuities
 business, refer to note 7(k) for details.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The results of the Company&amp;#x2019;s reporting segments differ from
 its geographic segments primarily due to the allocation of the
 Company&amp;#x2019;s Global WAM and Corporate and Other segments into
 the geographic segments to which its businesses relate.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;By geographic location&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 14pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="56%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at and for the year
 ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,010&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,561&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,342&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;439&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,352&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,175&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;452&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9,967&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(6,340&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net premium income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;18,185&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;9,013&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,625&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;439&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24,012&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;371&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,933&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,032&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;196&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,532&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,115&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,904&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,395&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,428&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;20,671&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14,850&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,802&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;649&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;38,972&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at and for the year
 ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,215&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,894&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,780&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;466&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24,355&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,568&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;443&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;844&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,855&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net premium income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,783&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,337&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,624&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;466&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;28,210&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,258&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,642&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,407&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;60&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,367&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,632&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,187&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,911&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;16&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;10,746&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;21,673&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;12,166&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;23,942&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;542&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;58,323&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;br class="Apple-interchange-newline" /&gt;

 &lt;/div&gt;</ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory>
  <ifrs-full:DisclosureOfFinancialInstrumentsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_D7C5130E-96D9-4599-910A-4267E25EA185_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 11&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Capital
 Instruments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Carrying value of capital
 instruments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="40%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Issuance date&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Earliest&amp;#xA0;par&amp;#xA0;redemption&lt;br /&gt;
 date&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Maturity date&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Par value&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 7.535% MFCT II Senior debenture notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;July&amp;#xA0;10, 2009&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;31,&amp;#xA0;2019&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;31,&amp;#xA0;2108&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,000&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 JHFC Subordinated notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;14,&amp;#xA0;2006&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;15, 2036&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;650&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;647&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;647&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 4.061% MFC Subordinated notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;24, 2017&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;24,&amp;#xA0;2027&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;24, 2032&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 US$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;750&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,017&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;935&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.00% MFC Subordinated notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;21,&amp;#xA0;2017&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;21,&amp;#xA0;2024&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;21,&amp;#xA0;2029&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 S$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;498&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;467&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.049% MFC Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;August&amp;#xA0;18, 2017&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;August&amp;#xA0;20, 2024&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;August&amp;#xA0;20, 2029&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;750&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;747&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;746&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.317% MFC Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;9, 2018&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;9, 2023&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;9, 2028&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;600&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;597&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.181% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;20, 2015&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;22, 2022&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;22, 2027&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;997&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;996&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.85% MFC Subordinated notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;25, 2016&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;25, 2021&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;25, 2026&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 S$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;499&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;467&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.389% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;June&amp;#xA0;1, 2015&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;January&amp;#xA0;5, 2021&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;January&amp;#xA0;5, 2026&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;350&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;349&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;349&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.10% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;March&amp;#xA0;10, 2015&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;June&amp;#xA0;1, 2020&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;June&amp;#xA0;1, 2025&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;750&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;749&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;748&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.64% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;1, 2014&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;January&amp;#xA0;15, 2020&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;January&amp;#xA0;15, 2025&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;499&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.811% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;21, 2014&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;21, 2019&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;21, 2024&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;499&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 7.375% JHUSA Surplus notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;25, 1994&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;15, 2024&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 US$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;450&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;632&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;584&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.926% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;29, 2013&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;29, 2018&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;29, 2023&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;250&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;250&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.819% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 February&amp;#xA0;25, 2013&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 February&amp;#xA0;26, 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 February&amp;#xA0;26, 2023&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;200&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;200&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;8,732&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&amp;#xA0;&amp;#xA0;8,387&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Issued by MLI to Manulife Financial Capital Trust II
 (MFCT II), a wholly owned unconsolidated related party to the
 Company. On the earliest par redemption date and on every fifth
 anniversary thereafter (each, a &amp;#x201C;Interest Reset Date&amp;#x201D;),
 the rate of interest will reset to equal the yield
 on&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;5-year&lt;/font&gt;&amp;#xA0;Government of
 Canada bonds plus 5.2%. With regulatory approval, MLI may redeem
 the debentures, in whole or in part, on the earliest par redemption
 date and on any Interest Reset Date, at a redemption price equal to
 par, together with accrued and unpaid interest. The redemption
 price for the debentures redeemed on any day that is not an
 Interest Reset Date will be equal to the greater of par or the fair
 value of the debt based on the yield on uncallable Government of
 Canada bonds to the next Interest Reset Date plus (a) 1.0325% if
 the redemption date is on or after December&amp;#xA0;31, 2014, but
 prior to December&amp;#xA0;31, 2019, or (b) 2.065% if the redemption
 date is after December&amp;#xA0;31, 2019, together with accrued and
 unpaid interest. Refer to note 17.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Issued by Manulife Holdings (Delaware) LLC
 (&amp;#x201C;MHDLL&amp;#x201D;), now John Hancock Financial Corporation
 (&amp;#x201C;JHFC&amp;#x201D;), a wholly owned subsidiary of MFC, to Manulife
 Finance (Delaware) LLC (&amp;#x201C;MFLLC&amp;#x201D;), a subsidiary of
 Manulife Finance (Delaware) L.P. (&amp;#x201C;MFLP&amp;#x201D;). MFLP and its
 subsidiaries are wholly owned unconsolidated related parties to the
 Company. The note bears interest at a floating rate equal to
 the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;90-day&lt;/font&gt;&amp;#xA0;Bankers&amp;#x2019;
 Acceptance rate plus 0.72%. With regulatory approval, JHFC may
 redeem the note, in whole or in part, at any time, at par, together
 with accrued and unpaid interest. Refer to note 17.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On the earliest par redemption date, the interest rate
 will reset to equal the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;5-Year&lt;/font&gt;&amp;#xA0;US&amp;#xA0;Dollar&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;Mid-Swap&lt;/font&gt;&amp;#xA0;Rate
 plus 1.647%. With regulatory approval, MFC may redeem the
 debentures, in whole, but not in part, on the earliest par
 redemption date, at a redemption price equal to par, together with
 accrued and unpaid interest.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On the earliest par redemption date, the interest rate
 will reset to equal the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;5-year&lt;/font&gt;&amp;#xA0;Singapore
 Dollar Swap Rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.00% &amp;#x2013; 83.2
 bps, 3.85% &amp;#x2013; 197 bps. With regulatory approval, MFC may
 redeem the debentures, in whole, but not in part, on the earliest
 par redemption date and thereafter on each interest payment date,
 at a redemption price equal to par, together with accrued and
 unpaid interest.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Interest is fixed for the period up to the earliest
 par redemption date, thereafter, the interest rate will reset to a
 floating rate equal to the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;90-day&lt;/font&gt;&amp;#xA0;Bankers&amp;#x2019;
 Acceptance rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.049% &amp;#x2013; 105
 bps, 3.317% &amp;#x2013; 78 bps. With regulatory approval, MFC may
 redeem the debentures, in whole or in part, on or after the
 earliest par redemption date, at a redemption price equal to par,
 together with accrued and unpaid interest.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Interest is fixed for the period up to the earliest
 par redemption date, thereafter the interest rate will reset to a
 floating rate equal to the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;90-day&lt;/font&gt;&amp;#xA0;Bankers&amp;#x2019;
 Acceptance rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.181% &amp;#x2013; 157
 bps, 2.389% &amp;#x2013; 83 bps, 2.10% &amp;#x2013; 72 bps, 2.64% &amp;#x2013; 73
 bps, 2.811% &amp;#x2013; 80 bps. With regulatory approval, MLI may
 redeem the debentures, in whole or in part, on or after the
 earliest par redemption date, at a redemption price equal to par,
 together with accrued and unpaid interest.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Issued by John Hancock Mutual Life Insurance Company,
 now John Hancock Life Insurance Company (U.S.A.). Any payment of
 interest or principal on the surplus notes requires prior approval
 from the Department of Insurance and Financial Services of the
 State of Michigan. The carrying value of the surplus notes reflects
 an unamortized fair value increment of US$20 (2017 &amp;#x2013; US$23),
 which arose as a result of the acquisition of John Hancock
 Financial Services, Inc. The amortization of the fair value
 adjustment is recorded in interest expense.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MLI redeemed in full the 2.926% and 2.819%
 subordinated debentures at par, on November&amp;#xA0;29, 2018 and
 February&amp;#xA0;26, 2018, respectively, the earliest par redemption
 dates.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Fair value measurement&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Fair value of capital instruments is determined using quoted market
 prices where available (Level 1). When quoted market prices are not
 available fair value is determined with reference to quoted prices
 of debt instruments with similar characteristics or estimated using
 discounted cash flows using observable market rates (Level 2).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Capital instruments are measured at amortized cost in the
 Consolidated Statements of Financial Position. As at
 December&amp;#xA0;31, 2018, the fair value of capital instruments was
 $8,712 (2017 &amp;#x2013; $8,636). Capital instruments were categorized
 in Level&amp;#xA0;2 of the fair value hierarchy (2017 &amp;#x2013;
 Level&amp;#xA0;2).&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsExplanatory>
  <ifrs-full:DisclosureOfInformationAboutInterestsInStructuredEntityExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_A09FBA41-CEC0-4801-A9E6-EEF71734E935_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The following table presents investments in securitized holdings by
 the type and asset quality.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="60%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="16"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;CMBS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;RMBS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;ABS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 AAA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,653&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;810&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,471&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,503&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 AA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;306&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;306&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;401&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 A&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;374&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;453&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;504&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 BBB&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;70&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;70&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;142&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 BB and below&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total company exposure&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;1,725&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;15&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;1,560&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;3,300&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;3,576&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfInformationAboutInterestsInStructuredEntityExplanatory>
  <ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_06B76F0E-EE5B-4C97-AFDB-62F9D0772339_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 A summary of compensation of key management personnel is as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Short-term employee benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;65&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;78&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Post-employment benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Share-based payments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;50&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;59&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Termination benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other long-term benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;127&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;150&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;br class="Apple-interchange-newline" /&gt;

 &lt;/div&gt;</ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory>
  <ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_68CCE44A-27CD-48F3-B8A0-9DCEFC22916E_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 17&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Interests
 in Structured Entities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company is involved with both consolidated and unconsolidated
 structured entities (&amp;#x201C;SEs&amp;#x201D;) which are established to
 generate investment and fee income. The Company is also involved
 with SEs that are used to facilitate financing for the Company.
 These entities may have some or all the following features: control
 is not readily identified based on voting rights; restricted
 activities designed to achieve a narrow objective; high amount of
 leverage; and/or highly structured capital.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company only discloses its involvement in significant
 consolidated and unconsolidated SEs. In assessing the significance,
 the Company considers the nature of its involvement with the SE,
 including whether it is sponsored by the Company (i.e. initially
 organized and managed by the Company). Other factors considered
 include the Company&amp;#x2019;s investment in the SE as compared to
 total investments, its returns from the SE as compared to total net
 investment income, the SE&amp;#x2019;s size as compared to total funds
 under management, and its exposure to any other risks from its
 involvement with the SE.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company does not provide financial or other support to its SEs,
 when it does not have a contractual obligation to do so.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Consolidated SEs&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 3pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Investment SEs&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company acts as an investment manager of timberlands and timber
 companies. The Company&amp;#x2019;s general fund and segregated funds
 invest in many of these companies. The Company has control over one
 timberland company which it manages, Hancock Victoria Plantations
 Holdings PTY Limited (&amp;#x201C;HVPH&amp;#x201D;). HVPH is a SE primarily
 because the Company&amp;#x2019;s employees exercise voting rights over
 it on behalf of other investors. As at December&amp;#xA0;31, 2018, the
 Company&amp;#x2019;s consolidated timber assets relating to HVPH were
 $920 (2017 &amp;#x2013; $884). The Company does not provide guarantees
 to other parties against the risk of loss from HVPH.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Financing SEs&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company securitizes certain insured and variable rate
 commercial and residential mortgages and HELOC. This activity is
 facilitated by consolidated entities that are SEs because their
 operations are limited to issuing and servicing the Company&amp;#x2019;s
 funding. Further information regarding the Company&amp;#x2019;s mortgage
 securitization program is included in note 3.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Unconsolidated SEs&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 3pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Investment SEs&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the Company&amp;#x2019;s investment and
 maximum exposure to loss from significant unconsolidated investment
 SEs, some of which are sponsored by the Company. The Company does
 not provide guarantees to other parties against the risk of loss
 from these SEs.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="86%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Company&amp;#x2019;s investment&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Company&amp;#x2019;s maximum&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;exposure to loss&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Leveraged leases&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,575&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,273&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,575&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,273&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Timberland companies&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;788&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;736&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;821&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;786&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate companies&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;566&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;361
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;566&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;361
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,929&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;4,370
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,962&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;4,420
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The Company&amp;#x2019;s investments in these
 unconsolidated SEs are included in invested assets and the
 Company&amp;#x2019;s returns from them are included in net investment
 income and AOCI.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The Company&amp;#x2019;s maximum exposure to loss from each
 SE is limited to amounts invested in each, plus unfunded capital
 commitments, if any. The Company&amp;#x2019;s investment commitments are
 disclosed in note 18. The maximum loss is expected to occur only
 upon the entity&amp;#x2019;s bankruptcy/liquidation, or in case of a
 natural disaster in the case of the timber companies.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These entities are statutory business trusts which use
 capital provided by the Company and senior debt provided by other
 parties to finance the acquisition of assets. These assets are
 leased to third-party lessees under long-term leases. The Company
 owns equity capital in these business trusts. The Company does not
 consolidate any of the trusts that are party to the lease
 arrangements because the Company does not have decision-making
 power over them.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These entities own and operate timberlands. The
 Company invests in their equity and debt. The Company&amp;#x2019;s
 returns include investment income, investment advisory fees,
 forestry management fees and performance advisory fees. The Company
 does not control these entities because it either does not have the
 power to govern their financial and operating policies or does not
 have significant variable returns from them, or both.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These entities, which include the Manulife U.S. REIT,
 own and manage commercial real estate. The Company invests in their
 equity. The Company&amp;#x2019;s returns include investment income,
 investment management fees, property management fees,
 acquisition/disposition fees, and leasing fees. The Company does
 not control these entities because it either does not have the
 power to govern their financial and operating policies or does not
 have significant variable returns from them, or both.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Financing SEs&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s interests and maximum exposure to loss from
 significant unconsolidated financing SEs are as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="82%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"&gt;Company&amp;#x2019;s interests&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top; LINE-HEIGHT: 9pt"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Finance (Delaware), L.P.&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;821&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;835&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Financial Capital Trust II&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;999&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,000&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;1,820&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;1,835&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The Company&amp;#x2019;s interests include amounts borrowed
 from the SEs and the Company&amp;#x2019;s investment in their
 subordinated capital, and foreign currency and interest swaps with
 them, if any.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;This entity is a wholly-owned partnership used to
 facilitate the Company&amp;#x2019;s financing. Refer to notes 11 and
 18.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;This entity is an open-ended trust that is used to
 facilitate the Company&amp;#x2019;s financing. Refer to note 11.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(i) Other invested assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company has investment relationships with a variety of other
 entities, which result from its direct investment in their debt
 and/or equity and which have been assessed for control. These other
 entities&amp;#x2019; investments include but are not limited to
 investments in power and infrastructure, oil and gas, private
 equity, real estate and agriculture, organized as limited
 partnerships and limited liability companies. Most of these other
 entities are not sponsored by the Company. The Company&amp;#x2019;s
 involvement with these other entities is not individually
 significant. As such, the Company neither provides summary
 financial data for these entities nor individually assesses whether
 they are SEs. The Company&amp;#x2019;s maximum exposure to losses
 because of its involvement with these other entities is limited to
 its investment in them and amounts committed to be invested but not
 yet funded. The Company records its income from these entities in
 net investment income and AOCI. The Company does not provide
 guarantees to other parties against the risk of loss from these
 other entities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(ii) Interest in securitized
 assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company invests in mortgage/asset-backed securities issued by
 securitization vehicles sponsored by other parties, including
 private issuers and government sponsored issuers, to generate
 investment income. The Company does not own a controlling financial
 interest in any of the issuers. These securitization vehicles are
 SEs based on their narrow scope of activities and highly leveraged
 capital structures. Investments in mortgage/asset-backed securities
 are reported on the Consolidated Statements of Financial Position
 as debt securities and private placements, and their fair value and
 carrying value are disclosed in note 3. The Company&amp;#x2019;s maximum
 loss from these investments is limited to amounts invested.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Commercial mortgage backed securities (&amp;#x201C;CMBS&amp;#x201D;) are
 secured by commercial mortgages and residential mortgage backed
 securities (&amp;#x201C;RMBS&amp;#x201D;) are secured by residential
 mortgages. Asset-backed securities (&amp;#x201C;ABS&amp;#x201D;) may be
 secured by various underlying assets including credit card
 receivables, automobile loans and aviation leases. The
 mortgage/asset-backed securities that the Company invests in
 primarily originate in North America.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents investments in securitized holdings by
 the type and asset quality.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="60%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="16"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;CMBS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;RMBS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;ABS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 AAA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,653&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;810&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,471&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,503&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 AA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;306&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;306&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;401&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 A&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;374&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;453&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;504&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 BBB&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;70&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;70&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;142&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 BB and below&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total company exposure&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;1,725&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;15&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;1,560&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;3,300&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;3,576&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(iii) Mutual funds&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company sponsors and may invest in a range of public mutual
 funds with a broad range of investment styles. As sponsor, the
 Company organizes mutual funds that implement investment strategies
 on behalf of current and future investors. The Company earns fees
 which are at market rates for providing advisory and administrative
 services to these mutual funds. Generally, the Company does not
 control its sponsored mutual funds because either the Company does
 not have power to govern their financial and operating policies, or
 its returns in the form of fees and ownership interests are not
 significant, or both. Certain mutual funds are SEs because their
 decision-making rights are not vested in voting equity interests
 and their investors are provided with redemption rights.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s relationships with these mutual funds are not
 individually significant. As such, the Company neither provides
 summary financial data for these mutual funds nor individually
 assesses whether they are SEs. The Company&amp;#x2019;s interest in
 mutual funds is limited to its investment and fees earned, if any.
 The Company&amp;#x2019;s investments in mutual funds are recorded as
 part of its investment in public equities within the Consolidated
 Statements of Financial Position. For information regarding the
 Company&amp;#x2019;s invested assets, refer to note 3. The Company does
 not provide guarantees to other parties against the risk of loss
 from these mutual funds.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 As sponsor, the Company&amp;#x2019;s investment in startup capital of
 mutual funds as at December&amp;#xA0;31, 2018 was $1,711 (2017 &amp;#x2013;
 $1,918). The Company&amp;#x2019;s retail mutual fund assets under
 management as at December&amp;#xA0;31, 2018 were $182,219 (2017 &amp;#x2013;
 $191,507).&lt;/p&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory>
  <ifrs-full:DisclosureOfInvestmentContractsLiabilitiesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E530D364-6479-4EB3-96E3-2D4C393D2E83_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 8&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Investment
 Contract Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Investment contract liabilities are contractual obligations that do
 not contain significant insurance risk. Those contracts are
 measured either at fair value or at amortized cost.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Investment contract liabilities
 measured at fair value&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment contract liabilities measured at fair value include
 certain investment savings and pension products sold primarily in
 Hong Kong and mainland China. The following table presents the
 movement in investment contract liabilities measured at fair value
 during the year.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="80%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;639&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;631&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 New policies&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;96&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;50&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in market conditions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;76&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;76&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redemptions, surrenders and maturities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(86&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(72&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;57&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;782&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;639&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Investment contract liabilities
 measured at amortized cost&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment contract liabilities measured at amortized cost include
 several fixed annuity products sold in Canada and U.S. fixed
 annuity products that provide guaranteed income payments for a
 contractually determined period and are not contingent on
 survivorship.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Carrying value and fair value of investment contract liabilities
 measured at amortized cost.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="86%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Amortized&lt;br /&gt;
 cost, gross of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Amortized&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;cost, gross of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S. fixed annuity products&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,357&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,449&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,282&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,433&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canadian fixed annuity products&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,126&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,269&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,205&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,354&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Investment contract liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,483&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,718&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,487&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,787&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;During the year, investment contract labilities with
 the carrying value and fair value of $128 and $130, respectively
 (2017 &amp;#x2013; $nil and $nil, respectively), were reinsured by the
 Company. As at December&amp;#xA0;31, 2018, the net carrying value and
 fair value of investment contracts labilities were $2,355 and
 $2,588, respectively.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The changes in investment contract liabilities measured at
 amortized cost was a result of the following business
 activities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;2,487&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,644&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy deposits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;68&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;82&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;100&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Withdrawals&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(201&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(232&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;110&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(91&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,483&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,487&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Carrying value of fixed annuity products is amortized at a rate
 that exactly discounts the projected actual cash flows to the net
 carrying amount of the liability at the date of issue.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Fair value of fixed annuity products is determined by projecting
 cash flows according to the contract terms and discounting the cash
 flows at current market rates adjusted for the Company&amp;#x2019;s own
 credit standing. As at December&amp;#xA0;31, 2018 and 2017, all
 investment contracts were categorized in Level&amp;#xA0;2 of the fair
 value hierarchy.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Investment contracts contractual
 obligations&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 As at December&amp;#xA0;31, 2018, the Company&amp;#x2019;s contractual
 obligations and commitments relating to the investment contracts
 are as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="58%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Payments due by period&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Less
 than&lt;br /&gt;
 1 year&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 to 3&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;3 to 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Over 5&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment contract liabilities&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;193&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;492&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;476&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;4,312&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;5,473&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Due to the nature of the products, the timing of net
 cash flows may be before contract maturity. Cash flows are
 undiscounted.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfInvestmentContractsLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_F79FDD94-F669-4A65-AFB1-C33E6DECA362_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Amounts recognized in the Consolidated
 Statements of Financial Position&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="77%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Development of net defined benefit liability&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined benefit obligation&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;4,675&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;4,706&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;640&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;665&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fair value of plan assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,190&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4,328&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;610&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;587&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Deficit&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;485&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;378&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;30&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;78&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Effect of asset limit&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Deficit and net defined benefit liability&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;494&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;378&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;30&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;78&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Deficit is comprised of:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Funded or partially funded plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(248&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(383&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(121&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(72&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Unfunded plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;742&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;761&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;151&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;150&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Deficit and net defined benefit liability&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;494&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;378&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;30&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;78&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2018, the Company recognized an impairment of $9 on
 the net defined benefit asset for one of its registered pension
 plans in Canada. This was due to the conversion of most plan
 benefits for future service from defined benefit to defined
 contribution which reduced the economic benefit that can be derived
 by the Company from the plan&amp;#x2019;s surplus. For the other funded
 pension plans, the present value of the economic benefits available
 in the form of reductions in future contributions to the plans
 remains greater than the surplus that is expected to develop.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory>
  <ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_41DC8D3B-BEEF-4059-88CA-87856285FB35_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Options outstanding&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="58%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 options
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 exercise&lt;br /&gt;
 price
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 options
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 exercise&lt;br /&gt;
 price
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Outstanding, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;25&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;20.45&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;30&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;19.80&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Granted&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24.52&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24.56&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Exercised&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17.77&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16.03&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Expired&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;37.35&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39.47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forfeited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21.24&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(1
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;20.86
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Outstanding, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;23&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;20.29&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;25
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;20.45
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Exercisable, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18.08&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;12
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;19.93
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory>
  <ifrs-full:DisclosureOfOffsettingOfFinancialAssetsAndFinancialLiabilitiesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_262BCFB9-0131-4A5F-9116-8A0344C644CD_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following table presents the effect of conditional master
 netting and similar arrangements. Similar arrangements may include
 global master repurchase agreements, global master securities
 lending agreements, and any related rights to financial
 collateral.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="45%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="7%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;
 Related&amp;#xA0;amounts&amp;#xA0;not&amp;#xA0;set&amp;#xA0;off&amp;#xA0;in&amp;#xA0;the&lt;br /&gt;

 Consolidated&amp;#xA0;Statements&amp;#xA0;of&lt;br /&gt;
 Financial Position&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Gross&amp;#xA0;amounts&amp;#xA0;of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Amounts&amp;#xA0;subject&amp;#xA0;to&lt;br /&gt;
 an enforceable&lt;br /&gt;
 master netting&lt;br /&gt;
 arrangement or&lt;br /&gt;
 similar agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Financial and&lt;br /&gt;
 cash&amp;#xA0;collateral&lt;br /&gt;
 pledged&lt;br /&gt;
 (received)&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Net&amp;#xA0;amount&lt;br /&gt;
 including&lt;br /&gt;
 financing&lt;br /&gt;
 trusts&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Net&amp;#xA0;amounts&lt;br /&gt;
 excluding&lt;br /&gt;
 financing&lt;br /&gt;
 trusts&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financial assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,320&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(6,644&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(7,431&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Securities lending&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,518&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,518&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reverse repurchase agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;63&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(63&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total financial assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;15,901&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;(6,707&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;(8,949&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;245&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;245&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financial liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(8,716&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;6,644&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,868&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(204&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(33&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Repurchase agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(64&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;63&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total financial liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;(8,780&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;6,707&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;1,869&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;(204&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&lt;b&gt;(33&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="45%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="7%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;Related&amp;#xA0;amounts&amp;#xA0;not
 set&amp;#xA0;off&amp;#xA0;in&amp;#xA0;the&lt;br /&gt;
 Consolidated Statements of&lt;br /&gt;
 Financial Position&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gross amounts of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Amounts subject to&lt;br /&gt;
 an enforceable&lt;br /&gt;
 master netting&lt;br /&gt;
 arrangement or&lt;br /&gt;
 similar agreements&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Financial and&lt;br /&gt;
 cash&amp;#xA0;collateral&lt;br /&gt;
 pledged&lt;br /&gt;
 (received)&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&amp;#xA0;amount&lt;br /&gt;
 including&lt;br /&gt;
 financing&lt;br /&gt;
 trusts&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Net&amp;#xA0;amounts&lt;br /&gt;
 excluding&lt;br /&gt;
 financing&lt;br /&gt;
 trusts&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financial assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,204&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6,714&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(9,395&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;95&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;95&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Securities lending&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,563&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,563&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reverse repurchase agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;230&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(184&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total financial assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;&amp;#xA0;&amp;#xA0;17,997&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;(6,760&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;(11,142&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;95&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;95&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financial liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(8,649&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;6,714&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,718&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(217&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(30&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Repurchase agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(228&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;182&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total financial liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;(8,877&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;6,760&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;1,900&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;(217&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"&gt;(30&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Financial assets and liabilities include accrued
 interest of $621 and $913, respectively (2017 &amp;#x2013; $638 and
 $827, respectively).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Financial and cash collateral exclude
 over-collateralization. As at December&amp;#xA0;31, 2018, the Company
 was over-collateralized on OTC derivative assets, OTC derivative
 liabilities, securities lending and reverse purchase agreements and
 repurchase agreements in the amounts of $417, $405, $80 and $nil,
 respectively (2017 &amp;#x2013; $743, $382, $79 and $nil, respectively).
 As at December&amp;#xA0;31, 2018, collateral pledged (received) does
 not include &lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;collateral-in-transit&lt;/font&gt;&lt;/font&gt; on OTC
 instruments or initial margin on exchange traded contracts or
 cleared contracts.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes derivative contracts entered between the
 Company and its financing trusts which it does not consolidate. The
 Company does not exchange collateral on derivative contracts
 entered with these trusts. Refer to note 17.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfOffsettingOfFinancialAssetsAndFinancialLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfOffsettingOfFinancialLiabilitiesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_35C4FE53-07A4-4DA6-960E-3D8B3E08AAAA_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;The following table presents the effect of
 unconditional netting.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="57%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="12%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="11%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right"&gt;Gross amounts
 of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right"&gt;Amounts subject
 to&lt;br /&gt;
 an enforceable&lt;br /&gt;
 netting&amp;#xA0;arrangement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right"&gt;
 Net&amp;#xA0;amounts&amp;#xA0;of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit linked note&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;679&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" align="right"&gt;
 &lt;b&gt;(679&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Variable surplus note&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" align="right"&gt;&lt;b&gt;(679&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;679&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(120,132,109); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;/div&gt;
 &lt;center style="FONT-SIZE: medium; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;div style="WIDTH: 8.5in" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="58%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="12%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="11%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Gross&amp;#xA0;amounts of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Amounts&amp;#xA0;subject&amp;#xA0;to&lt;br /&gt;
 an enforceable&lt;br /&gt;
 netting&amp;#xA0;arrangement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Net amounts of&lt;br /&gt;
 financial&amp;#xA0;instruments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit linked note&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;461&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(461&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Variable surplus note&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(461&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;461&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2017, the Company entered into a twenty-year
 financing facility with a third party, agreeing to issue variable
 surplus notes in exchange for an equal amount of credit linked
 notes. These notes are held to support JHUSA excess reserves under
 U.S. National Association of Insurance Commissioners&amp;#x2019; Model
 Regulation XXX. In certain scenarios, the credit linked note will
 be drawn upon by the Company which will issue fixed surplus notes
 equal to the draw payment received. The third party has agreed to
 fund any such payment under the credit-linked notes in return for a
 fee. As at December&amp;#xA0;31, 2018, the Company had no fixed surplus
 notes outstanding.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/center&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfOffsettingOfFinancialLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfOperatingSegmentsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_5CDCA96D-EAF2-43CA-9BB7-062A943A8A80_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;By segment&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="40%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at and for the year
 ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Global WAM&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Corporate&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,938&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,975&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,341&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;98&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,352&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,175&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;452&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9,967&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(6,340&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net premium income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;18,113&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;9,427&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,626&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;98&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24,012&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;278&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,764&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,723&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(225&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,532&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,296&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,446&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,542&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,472&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(328&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,428&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19,687&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,637&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;639&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,464&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(455&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;38,972&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,875&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,044&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,255&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23,137&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,986&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;518&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9,784&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;77&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7,203&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net benefits and claims&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,861&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,562&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(5,529&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;77&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest expense&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;187&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;447&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;583&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,275&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,749&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,063&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,428&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,322&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;682&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16,244&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17,797&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,072&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,045&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,401&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,228&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;33,453&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) before income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,890&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,565&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,684&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,063&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,683&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,519&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income tax recovery (expense)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(355&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(321&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(352&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(108&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;504&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(632&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,535&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,244&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,332&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;955&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,887&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Less net income (loss) attributed to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;&amp;#xA0;interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;208&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Participating policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(360&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;233&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(127&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss) attributed to shareholders&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,687&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,011&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,332&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;955&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,185&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;112,327&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;214,101&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;272,228&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;130,379&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;21,236&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;750,271&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at and for the year
 ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Global WAM&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Corporate&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,145&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,322&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,778&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;110&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24,355&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,568&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;443&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;844&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,855&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net premium income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,713&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,765&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,622&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;110&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;28,210&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,044&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,560&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,657&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;42&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;64&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,367&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;933&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,862&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,039&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,158&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(246&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;10,746&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;20,690&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;11,187&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;21,318&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,200&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(72&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;58,323&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Life and health insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,881&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,018&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,193&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;268&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;33,360&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuities and pensions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,889&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,404&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,574&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;74&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,941&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net benefits and claims&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,770&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,422&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,767&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;74&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;268&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39,301&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest expense&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;164&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;36&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;631&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,139&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,360&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,069&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,374&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,193&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;386&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;15,382&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;18,294&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;10,798&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;21,177&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,268&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,285&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;55,822&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) before income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,396&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;389&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;141&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;932&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,357&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,501&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income tax recovery (expense)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(405&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;159&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,342&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;146&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,203&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(239&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,991&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;548&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,078&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(154&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,262&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Less net income (loss) attributed to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;&amp;#xA0;interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;187&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Participating policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(30&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(36&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss) attributed to shareholders&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;1,834&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;554&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(1,201&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;1,078&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(161&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;96,354&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;217,813&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;263,523&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;131,779&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;20,064&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;729,533&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;During the year, the Company ceded premiums to
 reinsure a block of legacy U.S. individual pay-out annuities
 business, refer to note 7(k) for details.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfOperatingSegmentsExplanatory>
  <ifrs-full:DilutedEarningsLossPerShare contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="2" id="id_14036987_B582EE6A-B627-4D02-A3E8-19B6D69DE22D_1_37" unitRef="iso4217_CAD_per_shares">2.33</ifrs-full:DilutedEarningsLossPerShare>
  <ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_62C3E148-DA72-45B1-AF9B-40FD4C9A4719_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(e) Disaggregation of defined benefit
 obligation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="37%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center"&gt;&lt;b&gt;U.S. plans&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center"&gt;&lt;b&gt;Canadian plans&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Active members&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;621&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;592&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;32&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;332&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;393&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;22&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Inactive and retired members&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,431&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,434&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;457&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;481&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,291&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,287&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;129&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;130&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;3,052&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,026&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;489&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;515&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;1,623&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,680&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;151&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;150&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutInvestmentPropertyExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_37D6D20C-6283-4472-AAEE-C727E1BB4382_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The following table presents the rental income and direct operating
 expenses of investment properties.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="83%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Rental income from investment properties&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,013&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,120&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Direct operating expenses of rental investment properties&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(582&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(694&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;431&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;426&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutInvestmentPropertyExplanatory>
  <ifrs-full:DisclosureOfFairValueOfPlanAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_5CE14CC3-A46E-4522-8635-A8B7D88B7281_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(f) Fair value measurements&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The major categories of plan assets and the actual per cent
 allocation to each category are as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="38%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="16"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="16"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" nowrap="nowrap" align="center"&gt;&lt;b&gt;U.S. plans&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" nowrap="nowrap" align="center"&gt;&lt;b&gt;Canadian plans&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and cash equivalents&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;26&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;51&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;38&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;269&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;20%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,088&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;73%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;514&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;85%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,033&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;79%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other investments&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;252&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;0%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;2,866&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;610&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,324&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="38%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="13"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="16"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="16"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"&gt;&lt;b&gt;U.S. plans&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"&gt;&lt;b&gt;Canadian plans&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Retiree welfare
 plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and cash equivalents&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;33&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;33&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;695&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;45&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;212&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,979&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;67%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;502&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;85%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,165&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;84%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other investments&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;235&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;8%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;0%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,942&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;100%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;587&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;100%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,386&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;100%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;All the U.S. pension and retiree welfare plan assets
 have daily quoted prices in active markets, except for the private
 equity, timber and agriculture assets. In the aggregate, the latter
 assets represent approximately 7% of all U.S. pension and retiree
 welfare plan assets as at December&amp;#xA0;31, 2018 (2017 &amp;#x2013;
 6%).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;All the Canadian pension plan assets have daily quoted
 prices in active markets, except for the group annuity contract
 assets that represent approximately 0.2% of all Canadian pension
 plan assets as at December&amp;#xA0;31, 2018 (2017 &amp;#x2013; 0.3%).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Equity securities include direct investments in MFC
 common shares of $0.9 (2017 &amp;#x2013; $1.3) in the U.S. retiree
 welfare plan and $nil (2017 &amp;#x2013; $nil) in Canada.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other U.S. plan assets include investment in private
 equity, timberland and agriculture, and managed futures. Other
 Canadian pension plan assets include investment in the group
 annuity contract.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfFairValueOfPlanAssetsExplanatory>
  <ifrs-full:DisclosureOfFinancialAssetsThatAreEitherPastDueOrImpairedExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_3A4DBD91-EC5D-4DFE-984D-2F0AF2D09450_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Past due but not impaired and impaired
 financial assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="73%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Past due but not impaired&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Less&amp;#xA0;than&lt;br /&gt;
 90 days&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;90 days&lt;br /&gt;
 and&amp;#xA0;greater&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total&lt;br /&gt;
 impaired&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;39&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em"&gt;
 Mortgages and loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;70&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;70&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;120&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other financial assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;77&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;26&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;103&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;176&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;28&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;204&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;179&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="12"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center"&gt;Past due but not impaired&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Less than&lt;br /&gt;
 90 days&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;90 days&lt;br /&gt;
 and greater&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;br /&gt;
 impaired&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;45&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;104&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;106&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;363&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;363&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages and loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;76&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;92&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;86&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other financial assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;72&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;589&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;44&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;633&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;173&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfFinancialAssetsThatAreEitherPastDueOrImpairedExplanatory>
  <ifrs-full:DisclosureOfInformationAboutMaturityProfileOfDefinedBenefitObligationExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_D6E13328-0CA0-4E44-8D93-A5CF348424B1_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(k) Maturity profile&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The weighted average duration (in years) of the defined benefit
 obligations is as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="88%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Pension plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Retiree welfare plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S. plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8.8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9.5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9.0&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9.8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canadian plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;12.4&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;12.8
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;14.3&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;14.2
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfInformationAboutMaturityProfileOfDefinedBenefitObligationExplanatory>
  <ifrs-full:DisclosureOfInterestsInSubsidiariesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_57C8C819-C593-4DC2-906F-85E074F4E718_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 21 Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following is a list of Manulife&amp;#x2019;s directly and indirectly
 held major operating subsidiaries.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td width="14%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td width="34%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(100% owned unless otherwise noted in
 brackets beside company name)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;Address&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;Description&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;The Manufacturers Life Insurance Company&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center"&gt;Toronto, Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Leading Canadian-based financial services company that offers a
 diverse range of financial protection products and wealth
 management services&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Holdings (Alberta) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Calgary, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Financial Corporation&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Wilmington,&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Delaware,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Holding company&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 The Manufacturers Investment Corporation&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Michigan, U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Reassurance Company Ltd.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center"&gt;Michigan, U.S.A.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Captive insurance subsidiary that provides life, annuity and
 long-term care reinsurance to affiliates&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Life Insurance Company (U.S.A.)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center"&gt;Michigan, U.S.A.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 U.S. life insurance company licensed in all states, except New
 York&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Subsidiaries LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center"&gt;Wilmington, Delaware,&amp;#xA0;U.S.A.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Holding company&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Financial Network, Inc.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Financial services distribution organization&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Advisers, LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Investment advisor&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 11em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Funds, LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts, U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Broker-dealer&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (U.S.), LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Wilmington, Delaware,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Asset management company&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Hancock Natural Resource Group, Inc.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Manager of globally diversified timberland and agricultural
 portfolios&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Life Insurance Company of New York&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;New York, U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 U.S. life insurance company licensed in New York&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Investment Management Services, LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Investment advisor&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Life&amp;#xA0;&amp;amp; Health Insurance Company&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 U.S. life insurance company licensed in all states&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Distributors, LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Wilmington, Delaware,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Broker-dealer&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Insurance Agency, Inc.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Wilmington, Delaware,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Insurance agency&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Reinsurance Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hamilton, Bermuda&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides life and financial reinsurance to affiliates&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Reinsurance (Bermuda) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hamilton, Bermuda&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides life and annuity reinsurance to affiliates&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Bank of Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center"&gt;Waterloo, Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides integrated banking products and service options not
 available from an insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management Holdings (Canada), Inc.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides investment counseling, portfolio and mutual fund
 management in Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 First North American Insurance Company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Property and casualty insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 NAL Resources Management Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Calgary, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Management company for oil and gas properties&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Resources Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Calgary, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holds oil and gas properties&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Property Limited Partnership&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holds oil and gas royalties&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Property Limited Partnership II&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holds oil and gas royalties and foreign bonds and equities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Western Holdings Limited Partnership&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Calgary, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holds oil and gas properties&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Securities Investment Services, Inc.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Oakville, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Mutual fund dealer for Canadian operations&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Holdings (Bermuda) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hamilton, Bermuda&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manufacturers P&amp;amp;C Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;St. Michael, Barbados&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides property and casualty reinsurance&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Financial Asia Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hong Kong, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife (Cambodia) PLC&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Phnom Penh, Cambodia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manufacturers Life Reinsurance Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;St. Michael, Barbados&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides life and annuity reinsurance to affiliates&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife (Vietnam) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Ho Chi Minh City, Vietnam&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Vietnam) Company Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Ho Chi Minh City, Vietnam&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Fund management company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife International Holdings Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hong Kong, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife (International) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hong Kong, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife-Sinochem Life Insurance Co. Ltd. (51%)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Shanghai, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management International Holdings Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hong Kong, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Hong Kong) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hong Kong, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment management and advisory company marketing mutual
 funds&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Taiwan) Co., Ltd.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Taipei, Taiwan (China)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Asset management company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Life Insurance Company (Japan)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Tokyo, Japan&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Japan) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Tokyo, Japan&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment management and advisory company and mutual fund
 business&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Insurance (Thailand) Public Company Limited
 (85.8%)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Bangkok, Thailand&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Thailand) Company Limited
 (92.7%)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Bangkok, Thailand&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment management company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Holdings Berhad (59.5%)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Kuala Lumpur, Malaysia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Insurance Berhad (59.5%)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Kuala Lumpur, Malaysia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management Services Berhad (59.5%)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Kuala Lumpur, Malaysia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Asset management company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife (Singapore) Pte. Ltd.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Singapore&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Singapore) Pte. Ltd.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Singapore&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Asset management company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 The Manufacturers Life Insurance Co. (Phils.), Inc.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Makati City, Philippines&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Chinabank Life Assurance Corporation (60%)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Makati City, Philippines&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 PT Asuransi Jiwa Manulife Indonesia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Jakarta, Indonesia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 PT Manulife Aset Manajemen Indonesia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Jakarta, Indonesia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment management company marketing mutual funds and
 discretionary funds&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Europe) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;London, England&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment management company for Manulife Financial&amp;#x2019;s
 international funds&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Assurance Company of Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 EIS Services (Bermuda) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hamilton, Bermuda&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Berkshire Insurance Services Inc.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 JH Investments (Delaware), LLC&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Securities Incorporated&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Oakville, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment dealer&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (North America) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment advisor&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Regional Power Inc.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Mississauga, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Developer and operator of hydro-electric power projects&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MFC voting rights percentages are the same as the
 ownership percentages except for Manulife Insurance (Thailand)
 Public Company Limited and Manulife Asset Management (Thailand)
 Company Limited where MFC&amp;#x2019;s voting rights are 93.0% and
 96.4%, respectively.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfInterestsInSubsidiariesExplanatory>
  <ifrs-full:DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_B65E5A33-1AB2-444B-A1DC-76754ED0C586_1_0">&lt;div&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="43%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Options outstanding&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Options exercisable&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;options&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 exercise&lt;br /&gt;
 price
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 remaining&lt;br /&gt;
 contractual&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;life&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;years)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 options
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 exercise&lt;br /&gt;
 price
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 remaining&lt;br /&gt;
 contractual&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;life&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;years)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 $12.64&amp;#xA0;&amp;#x2013;&amp;#xA0;$20.99&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;17.27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4.00&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;17.06&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2.09&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 $21.00&amp;#xA0;&amp;#x2013;&amp;#xA0;$24.83&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;23.26&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6.95&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21.27&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3.25&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;23&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;20.29&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5.49&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18.08&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2.37&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory>
  <dei:DocumentPeriodEndDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_AABBE2BC-580A-445C-A7AB-04691349FE78_1_2">2018-12-31</dei:DocumentPeriodEndDate>
  <dei:EntityCurrentReportingStatus contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E515106C-50D5-4909-A331-CDCBF685879C_1_4">Yes</dei:EntityCurrentReportingStatus>
  <dei:EntityEmergingGrowthCompany contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E515106C-50D5-4909-A331-CDCBF685879C_1_5">false</dei:EntityEmergingGrowthCompany>
  <ifrs-full:DisclosureOfReconciliationOfChangesInGoodwillExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_1E28678D-0540-4DCF-B98D-45C45489F13B_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following tables present the carrying value of goodwill by CGU
 or group of CGUs.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="65%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 CGU or group of CGUs&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Additions/&lt;br /&gt;
 disposals&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Effect&amp;#xA0;of&lt;br /&gt;
 changes in&lt;br /&gt;
 foreign&lt;br /&gt;
 exchange&lt;br /&gt;
 rates&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asia&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Asia Insurance (excluding Japan)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;154&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;165&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Japan Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;391&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;44&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;435&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canada Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,954&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,962&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S. Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;400&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(65&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;32&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;367&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Global Wealth and Asset Managment&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Asia WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;180&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;196&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canada WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,436&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,436&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,198&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;105&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,303&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,713&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(65&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;216&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,864&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 CGU or group of CGUs&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Additions/&lt;br /&gt;
 disposals&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Effect of&lt;br /&gt;
 changes&amp;#xA0;in&lt;br /&gt;
 foreign&lt;br /&gt;
 exchange&lt;br /&gt;
 rates&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asia&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Asia Insurance (excluding Japan)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;160&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;154&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Japan Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;403&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;391&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canada Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,960&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,954&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S. Insurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;428&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(28&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;400&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Global Wealth and Asset Managment&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Asia WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;180&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canada WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,436&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,436&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. WAM&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,303&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(105&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,198&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;5,884&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(171&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;5,713&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;br class="Apple-interchange-newline" /&gt;

 &lt;/div&gt;</ifrs-full:DisclosureOfReconciliationOfChangesInGoodwillExplanatory>
  <ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E3C59869-38F9-4EAA-ABE1-8B5732BB2FDE_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 15&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Stock-Based
 Compensation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Stock options&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company grants stock options under its Executive Stock Option
 Plan (&amp;#x201C;ESOP&amp;#x201D;) to selected individuals. The options
 provide the holder the right to purchase MFC common shares at an
 exercise price equal to the higher of the prior day,
 prior&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;five-day&lt;/font&gt;&amp;#xA0;or
 prior&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;ten-day&lt;/font&gt;&amp;#xA0;average
 closing market price of the shares on the Toronto Stock Exchange on
 the date the options are granted. The options vest over a period
 not exceeding four years and expire not more than 10 years from the
 grant date. Effective with the 2015 grant, options may only be
 exercised after the fifth-year anniversary. A total of 73,600,000
 common shares have been reserved for issuance under the ESOP.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Options outstanding&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="58%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 options
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 exercise&lt;br /&gt;
 price
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 options
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 exercise&lt;br /&gt;
 price
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Outstanding, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;25&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;20.45&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;30&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;19.80&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Granted&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24.52&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24.56&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Exercised&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17.77&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16.03&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Expired&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;37.35&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39.47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forfeited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21.24&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;20.86
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Outstanding, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;23&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;20.29&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;25
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;20.45
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Exercisable, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18.08&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;12
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;19.93
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 14pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="43%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Options outstanding&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Options exercisable&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;options&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 exercise&lt;br /&gt;
 price
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 remaining&lt;br /&gt;
 contractual&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;life&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;years)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 options
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 exercise&lt;br /&gt;
 price
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Weighted&lt;br /&gt;
 average&lt;br /&gt;
 remaining&lt;br /&gt;
 contractual&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;life&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;years)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 $12.64&amp;#xA0;&amp;#x2013;&amp;#xA0;$20.99&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;17.27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4.00&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;17.06&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2.09&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 $21.00&amp;#xA0;&amp;#x2013;&amp;#xA0;$24.83&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;23.26&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6.95&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21.27&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3.25&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;23&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;20.29&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5.49&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18.08&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2.37&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The weighted average fair value of each option granted in 2018 has
 been estimated at $4.97 (2017 &amp;#x2013; $5.18) using the
 Black-Scholes option-pricing model. The pricing model uses the
 following assumptions for these options: risk-free interest rate of
 2.00% (2017&amp;#xA0;&amp;#x2013;&amp;#xA0;1.25%), dividend yield of 3.25% (2017
 &amp;#x2013; 3.00%), expected volatility of 28.0% (2017 &amp;#x2013; 29.5%)
 and expected life of 6.3 (2017 &amp;#x2013; 6.7) years. Expected
 volatility is estimated by evaluating a number of factors including
 historical volatility of the share price over multi-year
 periods.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Compensation expense related to stock options was $9 for the year
 ended December&amp;#xA0;31, 2018 (2017 &amp;#x2013; $16).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Deferred share units&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In 2000, the Company granted deferred share units
 (&amp;#x201C;DSUs&amp;#x201D;) to certain employees under the ESOP. These
 DSUs vest over a three-year period and each DSU entitles the holder
 to receive one common share on retirement or termination of
 employment. When dividends are paid on common shares, holders of
 DSUs are deemed to receive dividends at the same rate, payable in
 the form of additional DSUs. In 2018, nil DSUs were granted to
 employees under the ESOP (2017 &amp;#x2013; nil). The number of DSUs
 outstanding was 337,000 as at December&amp;#xA0;31, 2018 (2017 &amp;#x2013;
 610,000).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In addition, for certain employees and pursuant to the
 Company&amp;#x2019;s deferred compensation program, the Company grants
 DSUs under the RSU Plan which entitle the holder to receive payment
 in cash equal to the value of the same number of common shares plus
 credited dividends on retirement or termination of employment. In
 2018, the Company granted 55,000 DSUs to certain employees which
 vest after 34 months (2017 &amp;#x2013; 23,000). In 2018, 8,000 DSUs
 (2017 &amp;#x2013; nil) were granted to certain employees who elected to
 defer receipt of all or part of their annual bonus. These DSUs
 vested immediately. Also, in 2018, nil DSUs (2017 &amp;#x2013; 43,000)
 were granted to certain employees to defer payment of all or part
 of their Restricted Share Units (&amp;#x201C;RSUs&amp;#x201D;) and/or
 Performance Share Units (&amp;#x201C;PSUs&amp;#x201D;). These DSUs also
 vested immediately.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Under the Stock Plan for&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-Employee&lt;/font&gt;&amp;#xA0;Directors,
 each eligible director may elect to receive his or her annual
 director&amp;#x2019;s retainer and fees in DSUs or common shares in lieu
 of cash. Upon termination of the Board service, an eligible
 director who has elected to receive DSUs will be entitled to
 receive cash equal to the value of the DSUs accumulated in his or
 her account, or at his or her direction, an equivalent number of
 common shares. A total of one million common shares have been
 reserved for issuance under this plan.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The fair value of 141,000 DSUs issued during the year was $19.37
 per unit, as at December&amp;#xA0;31, 2018 (2017 &amp;#x2013; 156,000 at
 $26.22 per unit).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Number of DSUs (in thousands)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Outstanding, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,645&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,682&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issued&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;141&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;156&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reinvested&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;98&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redeemed&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(346&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(279&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forfeitures and cancellations&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(2
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Outstanding, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,538&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;2,645
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Of the DSUs outstanding as at December&amp;#xA0;31, 2018, 337,000 (2017
 &amp;#x2013; 610,000) entitle the holder to receive common shares,
 1,151,000 (2017 &amp;#x2013; 1,103,000) entitle the holder to receive
 payment in cash and 1,050,000 (2017 &amp;#x2013; 932,000) entitle the
 holder to receive payment in cash or common shares, at the option
 of the holder.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Compensation expense related to DSUs was $6 for the year ended
 December&amp;#xA0;31, 2018 (2017 &amp;#x2013; $13).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The carrying and fair value of the DSUs liability as at
 December&amp;#xA0;31, 2018 was $43 (2017 &amp;#x2013; $53) and was included
 in other liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Restricted share units and performance
 share units&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 For the year ended December&amp;#xA0;31, 2018, 5.5&amp;#xA0;million RSUs
 (2017 &amp;#x2013; 5.6 million) and 0.8&amp;#xA0;million PSUs (2017 &amp;#x2013;
 1.0 million) were granted to certain eligible employees under
 MFC&amp;#x2019;s Restricted Share Unit Plan. The fair value of the RSUs
 and PSUs granted during the year was $19.37 per unit as at
 December&amp;#xA0;31, 2018 (2017 &amp;#x2013; $26.22 per unit). Each RSU and
 PSU entitles the holder to receive payment equal to the market
 value of one common share, plus credited dividends, at the time of
 vesting, subject to any performance conditions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 RSUs granted in February 2018 will vest after 34 months and PSUs
 granted in February 2018 will vest after 36 months from their grant
 date and the related compensation expense is recognized over these
 periods, except where the employee is eligible to retire prior to a
 vesting date, in which case the cost is recognized over the period
 between the grant date and the date on which the employee is
 eligible to retire. Compensation expense related to RSUs and PSUs
 was $111 and $14, respectively, for the year ended
 December&amp;#xA0;31, 2018 (2017 &amp;#x2013; $125 and $21,
 respectively).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The carrying and fair value of the RSUs and PSUs liability as at
 December&amp;#xA0;31, 2018 was $128 (2017 &amp;#x2013; $228) and was
 included in other liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Global share ownership
 plan&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s Global Share Ownership Plan allows qualifying
 employees to apply up to five per cent of their annual base
 earnings toward the purchase of common shares. The Company matches
 a percentage of the employee&amp;#x2019;s eligible contributions up to a
 maximum amount. The Company&amp;#x2019;s contributions vest immediately.
 All contributions are used to purchase common shares in the open
 market.&lt;/p&gt;


 &lt;/div&gt;</ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory>
  <ifrs-full:DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_D5ECD9AB-B007-4D97-B3CD-B6DCF1667679_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following tables present a roll forward for invested assets and
 segregated funds net assets measured at fair value using
 significant unobservable inputs (Level 3) for the years ended
 December&amp;#xA0;31, 2018 and 2017.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="37%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended&lt;br /&gt;
 December&amp;#xA0;31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&lt;br /&gt;
 realized/&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses)&lt;br /&gt;
 included&lt;br /&gt;
 in net&lt;br /&gt;
 income&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&lt;br /&gt;
 realized/&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses)&lt;br /&gt;
 included&lt;br /&gt;
 in AOCI&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Purchases&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Sales&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Settlements&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Transfer&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;into&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Transfer&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;out of&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Currency&lt;br /&gt;
 movement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;&lt;b&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Change in&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses) on&lt;br /&gt;
 assets still&lt;br /&gt;
 held&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Debt securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
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 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other government&amp;#xA0;&amp;amp; agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;239&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(14&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;180&lt;/b&gt;&lt;/td&gt;
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 &lt;/tr&gt;
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 Corporate&lt;/p&gt;
 &lt;/td&gt;
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 &lt;/tr&gt;
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 &lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;25&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;31&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(56&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;975&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;248&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(146&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(32&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(149&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;68&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;971&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;AFS&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other government&amp;#xA0;&amp;amp; agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;47&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(15&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;88&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;49&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(12&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;120&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;136&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;55&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(27&lt;/b&gt;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;159&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Public equities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Real estate &amp;#x2013; investment property&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,529&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;291&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;615&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,578&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(706&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;610&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;244&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Other invested assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16,203&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(1,168&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,926&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,636&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(841&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(35&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,112&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17,562&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(434&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;28,732&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(877&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,541&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4,214&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(841&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(741&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,722&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;28,323&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(190&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Segregated funds net assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,255&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;226&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;155&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(367&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(17&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;191&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,447&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;161&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;34,101&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(644&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;4,999&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(4,754&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(880&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(915&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,991&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;33,903&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(36&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="47%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&lt;br /&gt;
 realized/&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses)&lt;br /&gt;
 included&lt;br /&gt;
 in net&lt;br /&gt;
 income&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&lt;br /&gt;
 realized/&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses)&lt;br /&gt;
 included&lt;br /&gt;
 in AOCI&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Purchases&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Sales&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Settlements&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Transfer&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;into&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Transfer&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;out of&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Currency&lt;br /&gt;
 movement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Change in&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses) on&lt;br /&gt;
 assets still&lt;br /&gt;
 held&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Debt securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;FVTPL&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other government&amp;#xA0;&amp;amp; agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;272&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(58&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;239&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;651&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;105&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(34&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(29&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(21&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;710&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(7&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;25&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;966&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;15&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;131&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(97&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(43&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;24&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(21&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;975&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;AFS&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other government&amp;#xA0;&amp;amp; agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;51&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;74&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;130&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;36&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(26&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(8&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;136&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Public equities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
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 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Real estate &amp;#x2013; investment property&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,756&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;301&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,257&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,267&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(518&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;264&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Other invested assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;14,849&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;395&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,022&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(435&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(837&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(791&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;16,203&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;244&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;27,605&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;696&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,279&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,702&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(837&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,309&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;28,732&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;508&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Segregated funds net assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,574&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;60&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;261&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(248&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(54&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(184&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(154&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,255&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;45&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;33,282&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;770&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;4,707&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(2,077&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(942&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;25&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(205&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(1,460&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;34,101&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;558&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These amounts are included in net investment income on
 the Consolidated Statements of Income except for the amount related
 to segregated funds net assets, where the amount is recorded in
 changes in segregated funds net assets, refer to note&amp;#xA0;22.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These amounts are included in AOCI on the Consolidated
 Statements of Financial Position.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;For assets transferred into and out of Level&amp;#xA0;3,
 the Company uses fair values of the assets at the beginning of the
 year.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;


 &lt;/div&gt;</ifrs-full:DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory>
  <ifrs-full:DisclosureOfUnconsolidatedStructuredEntitiesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_8009A87B-3774-4FF9-B311-6DB56043B606_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the Company&amp;#x2019;s investment and
 maximum exposure to loss from significant unconsolidated investment
 SEs, some of which are sponsored by the Company. The Company does
 not provide guarantees to other parties against the risk of loss
 from these SEs.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="86%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Company&amp;#x2019;s investment&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Company&amp;#x2019;s maximum&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;exposure to loss&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Leveraged leases&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,575&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,273&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,575&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,273&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Timberland companies&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;788&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;736&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;821&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;786&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate companies&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;566&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;361
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;566&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;361
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,929&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;4,370
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,962&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;4,420
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The Company&amp;#x2019;s investments in these
 unconsolidated SEs are included in invested assets and the
 Company&amp;#x2019;s returns from them are included in net investment
 income and AOCI.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The Company&amp;#x2019;s maximum exposure to loss from each
 SE is limited to amounts invested in each, plus unfunded capital
 commitments, if any. The Company&amp;#x2019;s investment commitments are
 disclosed in note 18. The maximum loss is expected to occur only
 upon the entity&amp;#x2019;s bankruptcy/liquidation, or in case of a
 natural disaster in the case of the timber companies.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These entities are statutory business trusts which use
 capital provided by the Company and senior debt provided by other
 parties to finance the acquisition of assets. These assets are
 leased to third-party lessees under long-term leases. The Company
 owns equity capital in these business trusts. The Company does not
 consolidate any of the trusts that are party to the lease
 arrangements because the Company does not have decision-making
 power over them.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These entities own and operate timberlands. The
 Company invests in their equity and debt. The Company&amp;#x2019;s
 returns include investment income, investment advisory fees,
 forestry management fees and performance advisory fees. The Company
 does not control these entities because it either does not have the
 power to govern their financial and operating policies or does not
 have significant variable returns from them, or both.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These entities, which include the Manulife U.S. REIT,
 own and manage commercial real estate. The Company invests in their
 equity. The Company&amp;#x2019;s returns include investment income,
 investment management fees, property management fees,
 acquisition/disposition fees, and leasing fees. The Company does
 not control these entities because it either does not have the
 power to govern their financial and operating policies or does not
 have significant variable returns from them, or both.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;


 &lt;/div&gt;</ifrs-full:DisclosureOfUnconsolidatedStructuredEntitiesExplanatory>
  <ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_4C93716E-B69B-434C-B034-885BC5E86FC1_1_0" unitRef="iso4217_CAD">9000000</ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="INF" id="id_14036987_B582EE6A-B627-4D02-A3E8-19B6D69DE22D_1_38" unitRef="iso4217_CAD_per_shares">0.91</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_36" unitRef="iso4217_CAD">822000000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
  <dei:EntityRegistrantName contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E515106C-50D5-4909-A331-CDCBF685879C_1_1">MANULIFE FINANCIAL CORP</dei:EntityRegistrantName>
  <ifrs-full:DisclosureOfRelatedPartyExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_B45A50F8-E1CC-4BD0-AE8A-3524BD53B40C_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 20&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Related
 Parties&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company enters into transactions with related parties in the
 normal course of business and at the terms that would exist
 in&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;arm&amp;#x2019;s-length&lt;/font&gt;&amp;#xA0;transactions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Transactions with certain related
 parties&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Transactions with MFLP, a wholly owned unconsolidated partnership,
 and MFCT, a wholly owned unconsolidated trust, are described in
 notes 10, 11 and 18. Refer to note&amp;#xA0;3(a) for additional
 transactions with related parties.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Compensation of key management
 personnel&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s key management personnel are those personnel
 who have the authority and responsibility for planning, directing
 and controlling the activities of the Company. Directors (both
 executive and&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-executive)&lt;/font&gt;&amp;#xA0;and
 senior management are considered key personnel. In 2018, this group
 was expanded to include a greater number of executives. As a
 result, the 2017 figures below have been restated to align with
 this larger group. A summary of compensation of key management
 personnel is as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Short-term employee benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;65&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;78&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Post-employment benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Share-based payments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;50&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;59&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Termination benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other long-term benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;127&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;150&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;br class="Apple-interchange-newline" /&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRelatedPartyExplanatory>
  <ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_EBD12567-FD64-479F-A043-D3CC683E2118_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note
 14&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Revenue from Service
 Contracts&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company provides investment management services, administrative
 services, distribution and related services to proprietary and
 third-party investment funds, retirement plans, group benefit plans
 and other arrangements. The Company also provides real estate
 management services to tenants of the Company&amp;#x2019;s investment
 properties.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s service contracts generally impose single
 performance obligations, each consisting of a series of similar
 related services for each customer.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s performance obligations within service
 arrangements are generally satisfied over time as the customer
 simultaneously receives and consumes the benefits of the services
 rendered, measured using an output method. Fees typically include
 variable consideration and the related revenue is recognized to the
 extent that it is highly probable that a significant reversal in
 the amount of cumulative revenue recognized will not occur when the
 uncertainty is subsequently resolved.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Asset based fees vary with asset values of accounts under
 management, subject to market conditions and investor behaviors
 beyond the Company&amp;#x2019;s control. Transaction processing and
 administrative fees vary with activity volume, also beyond the
 Company&amp;#x2019;s control. Some fees, including distribution fees,
 are based on account balances and transaction volumes. Fees related
 to account balances and transaction volumes are measured daily.
 Real estate management service fees include fixed portions plus
 recovery of variable costs of services rendered to tenants. Fees
 related to services provided are generally recognized as services
 are rendered, which is when it becomes highly probable that no
 significant reversal of cumulative revenue recognized will occur.
 The Company has determined that its service contracts have no
 significant financing components as fees are collected monthly. The
 Company has no significant contract assets or contract
 liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following tables present revenue from service contracts by
 service lines and reporting segments as disclosed in note 19.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 14pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="54%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Global&lt;br /&gt;
 WAM&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Corporate&lt;br /&gt;
 and&amp;#xA0;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment management and other related fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;328&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;149&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;521&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,805&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(236&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,567&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Transaction processing, administration, and service fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;226&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;854&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,939&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,036&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Distribution fees and other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;255&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;49&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;617&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;724&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(30&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,615&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total included in other revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;809&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,052&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,155&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,468&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(266&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,218&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate management services reported in net investment
 income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;31&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;160&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;147&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;348&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;840&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,212&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,302&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,468&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(256&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8,566&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;December&amp;#xA0;31, 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Asia&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;U.S.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Global&lt;br /&gt;
 WAM&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Corporate&lt;br /&gt;
 and&amp;#xA0;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment management and other related fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;351&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;137&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;569&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,397&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(232&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,222&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Transaction processing, administration, and service fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;206&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;871&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,978&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,075&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Distribution fees and other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;269&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;64&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;626&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;785&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(42&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,702&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total included in other revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;826&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,072&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,212&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,160&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(271&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,999&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate management services reported in net investment
 income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;22&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;161&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;156&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;344&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;848&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,233&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,368&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;5,160&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(266&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;8,343&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;br class="Apple-interchange-newline" /&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory>
  <ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_48FD083E-9D41-43B2-BD74-CA7C39B0725A_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(j) Sensitivity of assumptions on
 obligations&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Assumptions used can have a significant effect on the obligations
 reported for defined benefit pension and retiree welfare plans. The
 potential impact on the obligations arising from changes in the key
 assumptions is set out in the following table. The sensitivities
 assume all other assumptions are held constant. In actuality,
 inter-relationships with other assumptions may exist.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="73%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Pension&amp;#xA0;plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Retiree&amp;#xA0;welfare&amp;#xA0;plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Discount rate:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of a 1% increase&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(423&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(62&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of a 1% decrease&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;74&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Health care cost trend rate:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of a 1% increase&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of a 1% decrease&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Mortality rates&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of a 10% decrease&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;114&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;14&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;If the actuarial estimates of mortality are adjusted
 in the future to reflect unexpected decreases in mortality, the
 effect of a 10% decrease in mortality rates at each future age
 would be an increase in life expectancy at age 65 of 0.9 years for
 U.S. males and females and 0.8 years for Canadian males and
 females.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory>
  <ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_28" unitRef="iso4217_CAD">1788000000</ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities>
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  <ifrs-full:EarningsPerShareExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_AD9A4ACF-9062-428F-A989-CB29847DB07C_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The following table presents basic and diluted earnings per common
 share of the Company.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Basic earnings per common share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2.34&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;0.98&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Diluted earnings per common share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2.33&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;0.98&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:EarningsPerShareExplanatory>
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 &lt;font color="#1F320C"&gt;&lt;b&gt;Consolidated Statement of Cash
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 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
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 &lt;td width="55%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;MFC&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(Guarantor)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;JHUSA&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(Issuer)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Other&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Consolidation&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;adjustments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Consolidated&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;MFC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Operating activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,181&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;6,060&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(8,154&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,887&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Adjustments:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity in net income of unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(4,767&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,206&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,181&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,154&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Increase (decrease) in insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(5,273&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,180&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,907&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Increase (decrease) in investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(86&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;121&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;35&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 (Increase) decrease in reinsurance assets excluding coinsurance
 transactions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,609&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(716&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;893&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Amortization of (premium) discount on invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;58&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;154&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;212&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other amortization&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;225&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;518&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;747&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Net realized and unrealized (gains) losses and impairment on
 assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,158&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,580&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,727&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Deferred income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;679&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;240&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;930&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Restructuring charge&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;43&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;113&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;156&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Stock option expense&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash provided by (used in) operating activities before undernoted
 items&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,388&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,079&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,504&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Dividends from unconsolidated subsidiary&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,700&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;405&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;777&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,882&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in policy related and operating receivables and
 payables&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;251&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(536&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(31&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(316&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) operating activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,988&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,257&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17,825&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3,882&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19,188&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Investing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Purchases and mortgage advances&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(38,799&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(62,373&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(101,172&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Disposals and repayments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,817&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;46,294&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;82,111&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in investment broker net receivables and payables&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(169&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;41&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(128&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment in common shares of subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,284&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,284&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net cash decrease from purchase of subsidiaries and businesses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;187&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;187&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital contribution to unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return of capital from unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes receivable from parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes receivable from subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(23&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(61&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;84&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) investing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,307&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3,154&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(15,934&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,393&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(19,002&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 (Decrease) increase in repurchase agreements and securities sold
 but not yet purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(189&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(189&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redemption of long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(400&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(400&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issue of capital instruments, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;597&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;597&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redemption of capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(450&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(450&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Secured borrowings from securitization transactions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in deposits from Bank clients, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,490&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,490&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Shareholders&amp;#x2019; dividends paid in cash&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,788&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,788&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Dividends paid to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(777&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,105&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,882&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Contributions from (distributions
 to)&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-controlling&lt;/font&gt;&amp;#xA0;interests,
 net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(60&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(60&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Common shares repurchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(478&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(478&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Common shares issued, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;59&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,284&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,284&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;59&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Preferred shares issued, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital contributions by parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return of capital to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes payable to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;84&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(84&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes payable to subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;83&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) financing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,682&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(777&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(754&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,489&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(724&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Increase (decrease) during the year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,674&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,137&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(538&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Effect of foreign exchange rate changes on cash and short-term
 securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;353&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;468&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;822&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, beginning of year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,638&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11,439&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15,098&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, end of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,317&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,044&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15,382&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Beginning of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,133&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,811&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,965&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net payments in transit, included in other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(495&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(372&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(867&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net cash and short-term securities, beginning of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,638&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11,439&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15,098&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;End of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,783&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,411&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,215&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net payments in transit, included in other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(466&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(367&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(833&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net cash and short-term securities, end of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,317&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,044&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;15,382&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Supplemental disclosures on cash flow information:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest received&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;427&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,381&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,074&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(930&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,952&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;373&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;92&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,677&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(930&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,212&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income taxes paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(59&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;286&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;234&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;461&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Consolidated Statement of Cash
 Flows&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="55%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;MFC&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(Guarantor)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;JHUSA&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(Issuer)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Other&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Consolidation&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;adjustments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Consolidated&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;MFC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Operating activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(499&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,074&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,417&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,262&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Adjustments:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity in net income of unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,275&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(628&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;486&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,417&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Increase (decrease) in insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,877&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,146&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;20,023&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Increase (decrease) in investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;55&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;118&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;173&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 (Increase) decrease in reinsurance assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,890&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,159&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,269&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Amortization of (premium) discount on invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;206&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;230&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other amortization&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;123&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;433&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;560&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Net realized and unrealized (gains) losses and impairment on
 assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,609&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4,572&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7,188&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Deferred income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(59&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,239&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,967&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(331&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Stock option expense&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;19&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;15&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash provided by (used in) operating activities before undernoted
 items&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(233&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9,210&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9,036&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,013&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Dividends from unconsolidated subsidiary&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,700&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;125&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,175&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in policy related and operating receivables and
 payables&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(45&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(4,627&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,450&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(222&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) operating activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;2,422&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;4,708&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;14,661&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(4,000&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;17,791&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Investing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Purchases and mortgage advances&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(30,645&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(56,579&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(87,224&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Disposals and repayments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;26,952&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;43,768&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;70,720&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in investment broker net receivables and payables&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;182&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;45&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;227&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment in common shares of subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net cash decrease from purchase of subsidiaries and businesses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital contribution to unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(63&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;63&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return of capital from unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(11&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes receivables from affiliates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes receivable from parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;368&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(392&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes receivable from subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(16&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) investing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(2,489&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(3,205&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(12,551&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;1,958&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(16,287&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Financing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 (Decrease) increase in repurchase agreements and securities sold
 but not yet purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(29&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(29&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redemption of long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(600&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(607&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issue of capital instruments, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,209&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,209&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redemption of capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(899&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(899&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Secured borrowings from securitization transactions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;741&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;741&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in deposits from Bank clients, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;261&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;261&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Shareholders&amp;#x2019; dividends paid in cash&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,780&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,780&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Contributions from (distributions
 to)&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-controlling&lt;/font&gt;&amp;#xA0;interests,
 net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Common shares issued, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;124&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;124&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Dividends paid to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,175&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,825&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital contributions by parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;63&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(63&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return of capital to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(11&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes payable to affiliates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes payable to parent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(26&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Notes payable to subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(24&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(368&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;392&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash provided by (used in) financing activities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(71&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(1,376&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(581&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;2,042&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Increase (decrease) during the year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(138&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;127&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,518&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Effect of foreign exchange rate changes on cash and short-term
 securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(276&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(380&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(658&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, beginning of year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;161&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,787&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;10,290&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;14,238&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, end of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;21&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;3,638&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;11,439&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;15,098&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Beginning of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;161&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,317&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,673&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,151&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net payments in transit, included in other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(530&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(383&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(913&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net cash and short-term securities, beginning of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;161&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;3,787&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;10,290&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;14,238&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;End of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,133&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,811&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,965&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net payments in transit, included in other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(495&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(372&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(867&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net cash and short-term securities, end of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;21&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;3,638&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;11,439&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;15,098&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Supplemental disclosures on cash flow information:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest received&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;273&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,391&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,504&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(572&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,596&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;392&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;96&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,202&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(572&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,118&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income taxes paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;99&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;1,084&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;177&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;1,360&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;br class="Apple-interchange-newline" /&gt;

 &lt;/div&gt;</srt:ScheduleOfCondensedCashFlowStatementTableTextBlock>
  <srt:ScheduleOfCondensedIncomeStatementTableTextBlock contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_24B529D2-6DFC-4DC2-8061-B19104656B31_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statement of
 Income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;JHUSA&lt;br /&gt;
 (Issuer)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Other&lt;br /&gt;
 subsidiaries&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Consolidated&lt;br /&gt;
 MFC&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gross premiums&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,452&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;31,814&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,116&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;39,150&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Premiums ceded to reinsurers&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(14,149&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,105&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,116&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(15,138&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net premium income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(5,697&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;29,709&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24,012&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;907&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,126&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(946&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,532&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,799&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9,820&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,189&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,428&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;443&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,991&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;43,655&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,135&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;38,972&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net benefits and claims&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(7,403&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;22,862&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;475&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Commissions, investment and general expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,427&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,052&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,660&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;15,838&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;380&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;233&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(950&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,681&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;399&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(3,743&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;38,932&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,135&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;33,453&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) before income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;44&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;752&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,723&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,519&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income tax (expense) recovery&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(11&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;223&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(844&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(632&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) after income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;33&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;975&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,879&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,887&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity in net income (loss) of unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,767&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,206&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,181&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8,154&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,181&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,060&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(8,154&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,887&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss) attributed to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;
 interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Participating policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(127&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(127&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Shareholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,191&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,973&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8,164&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,181&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,060&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8,154&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;4,887&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statement of
 Income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;JHUSA&lt;br /&gt;
 (Issuer)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Other&lt;br /&gt;
 subsidiaries&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Consolidated&lt;br /&gt;
 MFC&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gross premiums&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,561&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22,895&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,905&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;36,361&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Premiums ceded to reinsurers&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,523&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(5,765&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(4,909&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(8,151&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net premium income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,084&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,130&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;28,210&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net investment income (loss)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;178&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,986&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,947&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(744&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,367&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net other revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,874&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10,864&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(2,996&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10,746&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total revenue&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;182&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;21,944&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;39,941&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(3,744&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;58,323&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net benefits and claims&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20,803&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,179&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(681&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39,301&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Commissions, investment and general expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,208&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,852&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,049&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,022&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;404&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,915&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(1,014&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,499&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total contract benefits and expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;415&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;24,205&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;34,946&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(3,744&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;55,822&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) before income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(233&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,261&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,995&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,501&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income tax (expense) recovery&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;62&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,134&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(1,435&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(239&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income (loss) after income taxes&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(171&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,127&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,560&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,262&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity in net income (loss) of unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,275&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;628&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(486&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(2,417&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income (loss)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(499&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;3,074&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(2,417&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,262&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss) attributed to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;
 interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Participating policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(36&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(36&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Shareholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(489&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,916&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(2,427&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(499&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;3,074&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(2,417&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,262&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</srt:ScheduleOfCondensedIncomeStatementTableTextBlock>
  <ifrs-full:RepaymentsOfNoncurrentBorrowings contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_23" unitRef="iso4217_CAD">400000000</ifrs-full:RepaymentsOfNoncurrentBorrowings>
  <ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011 contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_2FE6C42A-4461-4DC4-9B1F-8C36E6EF34F8_1_3" unitRef="iso4217_CAD">200000000</ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011>
  <dei:TradingSymbol contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E515106C-50D5-4909-A331-CDCBF685879C_1_0">MFC</dei:TradingSymbol>
  <ifrs-full:ProfitLoss contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_B582EE6A-B627-4D02-A3E8-19B6D69DE22D_1_26" unitRef="iso4217_CAD">4887000000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_B582EE6A-B627-4D02-A3E8-19B6D69DE22D_1_28" unitRef="iso4217_CAD">214000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_2538024E-044E-4651-9F70-AD442C99567B_1_8" unitRef="iso4217_CAD">-13000000</ifrs-full:ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax>
  <ifrs-full:RentalIncomeFromInvestmentProperty contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_E3B961E1-5DA1-4C9E-84DB-C27A8802B09D_1_0" unitRef="iso4217_CAD">1013000000</ifrs-full:RentalIncomeFromInvestmentProperty>
  <ifrs-full:RevenueFromContractsWithCustomers contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_8EC5FB68-01D6-4FE8-A9FD-BEA70F7289B4_8006_6" unitRef="iso4217_CAD">8566000000</ifrs-full:RevenueFromContractsWithCustomers>
  <ifrs-full:SellingGeneralAndAdministrativeExpense contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_B582EE6A-B627-4D02-A3E8-19B6D69DE22D_1_18" unitRef="iso4217_CAD">7957000000</ifrs-full:SellingGeneralAndAdministrativeExpense>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="INF" id="id_14036987_143A87F8-5219-4756-B858-CADA087B8FA3_1_0" unitRef="iso4217_CAD">0</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:RepaymentsOfBondsNotesAndDebentures contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_25" unitRef="iso4217_CAD">450000000</ifrs-full:RepaymentsOfBondsNotesAndDebentures>
  <srt:ScheduleOfCondensedBalanceSheetTableTextBlock contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_33FC8B19-B316-4F38-A32A-45F72108B6F8_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statement of
 Financial Position&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="54%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;JHUSA&lt;br /&gt;
 (Issuer)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Other&lt;br /&gt;
 subsidiaries&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Consolidated&lt;br /&gt;
 MFC&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;105,043&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;248,962&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(362&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;353,664&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investments in unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;54,015&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,356&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,738&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(79,109&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reinsurance assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;63,435&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;9,136&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(29,518&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;43,053&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;331&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,025&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;43,213&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(20,224&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;40,345&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;168,476&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;146,671&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,938&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;54,367&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;361,335&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;465,720&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(131,151&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;750,271&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Liabilities and equity&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;155,162&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;203,682&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(30,190&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,191&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,076&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,265&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;275&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;18,136&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;46,072&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(19,992&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;44,491&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,769&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,769&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,359&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;632&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,741&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;168,476&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;146,671&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,938&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Shareholders&amp;#x2019; equity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;45,964&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,738&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;61,291&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(79,029&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;45,964&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Participating policyholders&amp;#x2019; equity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;94&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;94&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;
 interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,093&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,093&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total liabilities and equity&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;54,367&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;361,335&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;465,720&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(131,151&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;750,271&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statement of
 Financial Position&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="54%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;JHUSA&lt;br /&gt;
 (Issuer)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Other&lt;br /&gt;
 subsidiaries&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Consolidated&lt;br /&gt;
 MFC&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;108,144&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;226,421&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(364&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;334,222&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investments in unconsolidated subsidiaries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;48,374&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,509&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,999&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(69,882&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reinsurance assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;49,927&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,281&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(27,849&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;30,359&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;314&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,678&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40,715&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(19,062&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40,645&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;176,139&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;149,812&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(1,644&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;48,709&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;359,397&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;440,228&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(118,801&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;729,533&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Liabilities and equity&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;147,155&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;185,884&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(28,434&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;304,605&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,130&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,998&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,126&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;297&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,399&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;41,395&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(18,930&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;42,161&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,784&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,784&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,615&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;584&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,188&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,387&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;176,139&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;149,812&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,644&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Shareholders&amp;#x2019; equity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;41,013&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,990&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;54,801&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(69,791&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;41,013&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Participating policyholders&amp;#x2019; equity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;221&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;221&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;
 interests&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;929&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;929&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total liabilities and equity&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;48,709&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;359,397&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;440,228&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(118,801&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;729,533&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</srt:ScheduleOfCondensedBalanceSheetTableTextBlock>
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 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Market Risk Management
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 Market risk management strategy is governed by the Global Asset
 Liability Committee which oversees the overall market and liquidity
 risk program. Our overall strategy to manage our market risks
 incorporates several component strategies, each targeted to manage
 one or more of the market risks arising from our businesses. At an
 enterprise level, these strategies are designed to manage our
 aggregate exposures to market risks against limits associated with
 earnings and capital volatility.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 The following table outlines our key market risks and identifies
 the risk management strategies which contribute to managing these
 risks.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font style="FONT-SIZE: 9pt" color="#1F320C"&gt;&lt;b&gt;Risk Management
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="18" align="center"&gt;&lt;b&gt;Key Market Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Publicly&lt;br /&gt;
 Traded&amp;#xA0;Equity&lt;br /&gt;
 Performance&lt;br /&gt;
 Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Interest&amp;#xA0;Rate&lt;br /&gt;
 and Spread&lt;br /&gt;
 Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Alternative&lt;br /&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Long-Duration&lt;/font&gt;&lt;br /&gt;
 Asset&lt;br /&gt;
 Performance&lt;br /&gt;
 Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Foreign&lt;br /&gt;
 Exchange&amp;#xA0;Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Liquidity&amp;#xA0;Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Product design and pricing&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
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 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Variable annuity guarantee dynamic hedging&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
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 &lt;/tr&gt;
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 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Macro equity risk hedging&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
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 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asset liability management&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
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 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign exchange management&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
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 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Liquidity risk management&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
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 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Product Design and Pricing
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 Our policies, standards, and standards of practice with respect to
 product design and pricing are designed with the objective of
 aligning our product offerings with our risk taking philosophy and
 risk appetite, and in particular, that incremental risk generated
 from new sales aligns with our strategic risk objectives and risk
 limits. The specific design features of our product offerings,
 including level of benefit guarantees, policyholder options, fund
 offerings and availability restrictions as well as our associated
 investment strategies, help to mitigate the level of underlying
 risk. We regularly review and modify key features within our
 product offerings, including premiums and fee charges with a goal
 of meeting profit targets and staying within risk limits. Certain
 of our general fund adjustable benefit products have minimum rate
 guarantees. The rate guarantees for any particular policy are set
 at the time the policy is issued and governed by insurance
 regulation in each jurisdiction where the products are sold. The
 contractual provisions allow crediting rates to be &lt;font style="WHITE-SPACE: nowrap"&gt;re-set&lt;/font&gt; at &lt;font style="WHITE-SPACE: nowrap"&gt;pre-established&lt;/font&gt; intervals subject to
 the established minimum crediting rate guarantees. The Company may
 partially mitigate the interest rate exposure by setting new rates
 on new business and by adjusting rates on &lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt; business where permitted. In
 addition, the Company partially mitigates this interest rate risk
 through its asset liability management process, product design
 elements, and crediting rate strategies. New product initiatives,
 new reinsurance arrangements and material insurance underwriting
 initiatives must be reviewed and approved by the CRO or key
 individuals within risk management functions.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Hedging Strategies for Variable Annuity
 and Other Equity Risks&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 The Company&amp;#x2019;s exposure to movement in public equity market
 values primarily arises from variable annuity guarantees and to a
 smaller extent from asset-based fees and general fund public equity
 holdings.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Dynamic hedging is the primary hedging strategy for variable
 annuity market risks. Dynamic hedging is employed for new variable
 annuity guarantees business when written or as soon as practical
 thereafter.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 We seek to manage public equity risk arising from other sources
 (not dynamically hedged) through our macro equity risk hedging
 strategy. We seek to manage interest rate risk arising from
 variable annuity business not dynamically hedged within our asset
 liability management strategy.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Variable Annuity Dynamic Hedging
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 The variable annuity dynamic hedging strategy is designed to hedge
 the sensitivity of variable annuity guarantee policy liabilities
 and available capital to fund performance (both public equity and
 bond funds) and interest rate movements. The objective of the
 variable annuity dynamic hedging strategy is to offset, as closely
 as possible, the change in the economic value of guarantees with
 the profit and loss from our hedge asset portfolio. The economic
 value of guarantees moves in close tandem, but not exactly, with
 our variable annuity guarantee policy liabilities, as it reflects
 best estimate liabilities and does not include any liability
 provisions for adverse deviations.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 Our current variable annuity guarantee dynamic hedging approach is
 to short exchange-traded equity index and government bond futures
 and execute currency futures and lengthening interest rate swaps to
 hedge sensitivity of policy liabilities to fund performance and
 interest rate movements arising from variable annuity guarantees.
 We dynamically rebalance these hedge instruments as market
 conditions change, in order to maintain the hedged position within
 established limits. Other derivative instruments (such as equity
 and interest rate options) are also utilized and we may consider
 the use of additional hedge instruments opportunistically in the
 future.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 Our variable annuity guarantee dynamic hedging strategy is not
 designed to completely offset the sensitivity of policy liabilities
 to all risks associated with the guarantees embedded in these
 products. The profit (loss) on the hedge instruments will not
 completely offset the underlying losses (gains) related to the
 guarantee liabilities hedged because:&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Policyholder behaviour and mortality experience are
 not hedged;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Provisions for adverse deviation in the policy
 liabilities are not hedged;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;A portion of interest rate risk is not hedged;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Credit spreads may widen and actions might not be
 taken to adjust accordingly;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fund performance on a small portion of the underlying
 funds is not hedged due to lack of availability of effective
 exchange-traded hedge instruments;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Performance of the underlying funds hedged may differ
 from the performance of the corresponding hedge instruments;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Correlations between interest rates and equity markets
 could lead to unfavourable material impacts;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Unfavourable hedge rebalancing costs can be incurred
 during periods of high volatility from equity markets, bond markets
 and/or interest rates. The impact is magnified when these impacts
 occur concurrently; and&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Not all other risks are hedged.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Macro Equity Risk Hedging
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 The objective of the macro equity risk hedging program is to
 maintain our overall earnings sensitivity to public equity market
 movements within our Board approved risk appetite limits. The macro
 equity risk hedging program is designed to hedge earnings
 sensitivity due to movements in public equity markets arising from
 all sources (outside of dynamically hedged exposures). Sources of
 equity market sensitivity addressed by the macro equity risk
 hedging program include:&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Residual equity and currency exposure from variable
 annuity guarantees not dynamically hedged;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;General fund equity holdings backing &lt;font style="WHITE-SPACE: nowrap"&gt;non-participating&lt;/font&gt; liabilities; and&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Unhedged provisions for adverse deviation related to
 variable annuity guarantees dynamically hedged.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Asset Liability Management
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 Our asset liability management strategy is designed to help ensure
 that the market risks embedded in our assets and liabilities held
 in the Company&amp;#x2019;s general fund are effectively managed and
 that risk exposures arising from these assets and liabilities are
 maintained within risk limits. The embedded market risks include
 risks related to the level and movement of interest rates and
 credit and swap spreads, public equity market performance, ALDA
 performance and foreign exchange rate movements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 General fund product liabilities are categorized into groups with
 similar characteristics in order to support them with a specific
 asset strategy. We seek to align the asset strategy for each group
 to the premium and benefit pattern, policyholder options and
 guarantees, and crediting rate strategies of the products they
 support. Similar strategies are established for assets in the
 Company&amp;#x2019;s surplus account. The strategies are set using
 portfolio analysis techniques intended to optimize returns, subject
 to considerations related to regulatory and economic capital
 requirements, and risk tolerances. They are designed to achieve
 broad diversification across asset classes and individual
 investment risks while being suitably aligned with the liabilities
 they support. The strategies encompass asset mix, quality rating,
 term profile, liquidity, currency and industry concentration
 targets.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Foreign Exchange Risk Management
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 Our policy is to generally match the currency of our assets with
 the currency of the liabilities they support. Where assets and
 liabilities are not currency matched, we seek to hedge this
 exposure where appropriate to stabilize our capital positions and
 remain within our enterprise foreign exchange risk limits through
 the use of financial instruments such as derivatives.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Liquidity Risk Management
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 Global liquidity management policies and procedures are designed to
 provide adequate liquidity to cover cash and collateral obligations
 as they come due, and to sustain and grow operations in both normal
 and stressed conditions. They reflect legal, regulatory, tax,
 operational or economic impediments to inter-entity funding. The
 asset mix of our balance sheet takes into account the need to hold
 adequate unencumbered and appropriate liquid assets to satisfy the
 requirements arising under stressed scenarios and to allow our
 liquidity ratios to remain strong. We manage liquidity centrally
 and closely monitor the liquidity positions of our principal
 subsidiaries.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 We seek to mitigate liquidity risk by diversifying our business
 across different products, markets, geographical regions and
 policyholders. We design insurance products to encourage
 policyholders to maintain their policies &lt;font style="WHITE-SPACE: nowrap"&gt;in-force,&lt;/font&gt; to help generate a
 diversified and stable flow of recurring premium income. We design
 the policyholder termination features of our wealth management
 products and related investment strategies with the goal of
 mitigating the financial exposure and liquidity risk related to
 unexpected policyholder terminations. We establish and implement
 investment strategies intended to match the term profile of the
 assets to the liabilities they support, taking into account the
 potential for unexpected policyholder terminations and resulting
 liquidity needs. Liquid assets represent a large portion of our
 total assets. We aim to reduce liquidity risk in our deposit funded
 businesses by diversifying our funding sources and appropriately
 managing the term structure of our funding. We forecast and monitor
 daily operating liquidity and cash movements in various individual
 entities and operations as well as centrally, aiming to ensure
 liquidity is available and cash is employed optimally.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 We also maintain centralized cash pools and access to other sources
 of liquidity and contingent liquidity such as repurchase funding
 agreements. Our centralized cash pool consists of cash or
 near-cash, high quality short-term investments that are continually
 monitored for their credit quality and market liquidity.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 We have established a variety of contingent liquidity sources. We
 maintain a $500&amp;#xA0;million committed unsecured revolving credit
 facility with certain Canadian chartered banks available for MFC,
 and a US$500&amp;#xA0;million committed unsecured revolving credit
 facility with certain U.S. banks available for MFC and certain of
 its subsidiaries. There were no outstanding borrowings under these
 credit facilities as of December&amp;#xA0;31, 2018. In addition, John
 Hancock (&amp;#x201C;JH&amp;#x201D;) USA is a member of the Federal Home Loan
 Bank of Indianapolis (&amp;#x201C;FHLBI&amp;#x201D;), which enables the
 Company to obtain loans from FHLBI as an alternative source of
 liquidity that is collaterizable by qualifying mortgage loans,
 mortgage-backed securities and U.S. Treasury and Agency securities.
 Based on regulatory limitations, as of December&amp;#xA0;31, 2018,
 JHUSA had an estimated maximum borrowing capacity of
 US$3.8&amp;#xA0;billion under the FHLBI facility, with no amounts
 outstanding.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 The following table outlines the maturity of the Company&amp;#x2019;s
 significant financial liabilities.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Maturity of financial
 liabilities&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt; &lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="58%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Less than&lt;br /&gt;
 1 year&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;1 to 3&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;3 to 5&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Over 5&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;681&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,088&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,769&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;359&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;229&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;227&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,988&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,803&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deposits from Bank clients&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,351&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,147&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,185&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,684&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Lease obligations&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;129&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;203&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;93&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;150&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;575&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The amounts shown above are net of the related
 unamortized deferred issue costs.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Carrying value and fair value of deposits from Bank
 clients as at December&amp;#xA0;31, 2018 was $19,684&amp;#xA0;million and
 $19,731&amp;#xA0;million, respectively (2017 &amp;#x2013;
 $18,131&amp;#xA0;million and $18,149&amp;#xA0;million, respectively). Fair
 value is determined by discounting contractual cash flows, using
 market interest rates currently offered for deposits with similar
 terms and conditions. All deposits from Bank clients were
 categorized in Level&amp;#xA0;2 of the fair value hierarchy (2017
 &amp;#x2013; Level&amp;#xA0;2).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 Through the normal course of business, pledging of assets is
 required to comply with jurisdictional regulatory and other
 requirements including collateral pledged to partially mitigate
 derivative counterparty credit risk, assets pledged to exchanges as
 initial margin and assets held as collateral for repurchase funding
 agreements. Total unencumbered assets were $427.9 billion as at
 December&amp;#xA0;31, 2018 (2017 &amp;#x2013; $396.8 billion).&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Market Risk Sensitivities and Market Risk
 Exposure Measures&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Variable Annuity and Segregated Fund
 Guarantees Sensitivities and Risk Exposure Measures&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 Guarantees on variable annuity products and segregated funds may
 include one or more of death, maturity, income and withdrawal
 guarantees. Variable annuity and segregated fund guarantees are
 contingent and only payable upon the occurrence of the relevant
 event, if fund values at that time are below guaranteed values.
 Depending on future equity market levels, liabilities on current
 &lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt; business would be
 due primarily in the period from 2019 to 2039.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 We seek to mitigate a portion of the risks embedded in our retained
 (i.e. net of reinsurance) variable annuity and segregated fund
 guarantee business through the combination of our dynamic and macro
 hedging strategies (see &amp;#x201C;Publicly Traded Equity Performance
 Risk&amp;#x201D; below).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 The table below shows selected information regarding the
 Company&amp;#x2019;s variable annuity and segregated fund
 investment-related guarantees gross and net of reinsurance.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Variable annuity and segregated fund
 guarantees, net of reinsurance&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="98%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="51%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" rowspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" align="center"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Guarantee&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fund&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Amount&amp;#xA0;at&lt;br /&gt;
 risk&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="right"&gt;Guarantee&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="right"&gt;Fund&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="right"&gt;Amount&lt;br /&gt;
 at&amp;#xA0;risk&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Guaranteed minimum income benefit&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,264&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,675&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,593&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,195&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,074&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Guaranteed minimum withdrawal benefit&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;60,494&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;49,214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,388&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;61,767&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;56,512&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,943&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Guaranteed minimum accumulation benefit&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18,611&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18,720&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;141&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;18,162&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;18,705&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;11&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross living benefits&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;84,369&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;71,609&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,122&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;85,130&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;79,412&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,028&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross death benefits&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,663&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14,654&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,567&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;10,743&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;16,973&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;1,001&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total gross of reinsurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;95,032&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;86,263&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;14,689&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;95,873&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;96,385&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;8,029&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Living benefits reinsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,515&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,173&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,343&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,522&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,667&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;911&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Death benefits reinsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,353&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,070&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;493&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;3,014&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;3,040&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;435&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total reinsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,868&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,243&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,836&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;7,536&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;6,707&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right"&gt;1,346&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, net of reinsurance&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;88,164&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;81,020&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,853&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;88,337&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;89,678&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;6,683&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Contracts with guaranteed long-term care benefits are
 included in this category.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Where a policy includes both living and death
 benefits, the guarantee in excess of the living benefit is included
 in the death benefit category as outlined in footnote 3.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Death benefits include stand-alone guarantees and
 guarantees in excess of living benefit guarantees where both death
 and living benefits are provided on a policy.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Amount at risk &lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;(in-the-money&lt;/font&gt;&lt;/font&gt; amount) is the
 excess of guarantee values over fund values on all policies where
 the guarantee value exceeds the fund value. This amount is not
 currently payable. For guaranteed minimum death benefit, the amount
 at risk is defined as the current guaranteed minimum death benefit
 in excess of the current account balance. For guaranteed minimum
 income benefit, the amount at risk is defined as the excess of the
 current annuitization income base over the current account value.
 For all guarantees, the amount at risk is floored at zero at the
 single contract level.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The amount at risk net of reinsurance at
 December&amp;#xA0;31, 2018 was $12,853&amp;#xA0;million (2017 &amp;#x2013;
 $6,683 million) of which: US$6,899&amp;#xA0;million (2017 &amp;#x2013;
 US$3,982 million) was on our U.S. business, $2,654&amp;#xA0;million
 (2017 &amp;#x2013; $1,342 million) was on our Canadian business,
 US$332&amp;#xA0;million (2017 &amp;#x2013; US$95 million) was on our Japan
 business and US$246&amp;#xA0;million (2017 &amp;#x2013; US$181 million) was
 related to Asia (other than Japan) and our &lt;font style="WHITE-SPACE: nowrap"&gt;run-off&lt;/font&gt; reinsurance business.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Investment categories for variable
 contracts with guarantees&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 Variable contracts with guarantees, including variable annuities
 and variable life, are invested, at the policyholder&amp;#x2019;s
 discretion subject to contract limitations, in various fund types
 within the segregated fund accounts and other investments. The
 account balances by investment category are set out below.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Investment category&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;43,528&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47,508&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balanced funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;41,625&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47,369&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Bond funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,309&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,095&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Money market funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,107&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,905&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other fixed interest rate investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,997&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,777&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;101,566&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;111,654&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Caution Related to
 Sensitivities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 In the sections that follow, we provide sensitivities and risk
 exposure measures for certain risks. These include sensitivities
 due to specific changes in market prices and interest rate levels
 projected using internal models as at a specific date and are
 measured relative to a starting level reflecting the
 Company&amp;#x2019;s assets and liabilities at that date and the
 actuarial factors, investment activity and investment returns
 assumed in the determination of policy liabilities. The risk
 exposures measure the impact of changing one factor at a time and
 assume that all other factors remain unchanged. Actual results can
 differ significantly from these estimates for a variety of reasons
 including the interaction among these factors when more than one
 changes; changes in actuarial and investment return and future
 investment activity assumptions; actual experience differing from
 the assumptions, changes in business mix, effective tax rates and
 other market factors; and the general limitations of our internal
 models. For these reasons, the sensitivities should only be viewed
 as directional estimates of the underlying sensitivities for the
 respective factors based on the assumptions outlined below. Given
 the nature of these calculations, we cannot provide assurance that
 the actual impact on net income attributed to shareholders&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 The table below shows the potential impact on net income attributed
 to shareholders resulting from an immediate 10%, 20% and 30% change
 in market values of publicly traded equities followed by a return
 to the expected level of growth assumed in the valuation of policy
 liabilities. If market values were to remain flat for an entire
 year, the potential impact would be roughly equivalent to an
 immediate decline in market values equal to the expected level of
 annual growth assumed in the valuation of policy liabilities.
 Further, if after market values dropped 10%, 20% or 30% they
 continued to decline, remained flat, or grew more slowly than
 assumed in the valuation the potential impact on net income
 attributed to shareholders could be considerably more than shown.
 Refer to &amp;#x201C;Sensitivity of Earnings to Changes in
 Assumptions&amp;#x201D; for more information on the level of growth
 assumed and on the net income sensitivity to changes in these
 long-term assumptions. The potential impact is shown after taking
 into account the impact of the change in markets on the hedge
 assets. While we cannot reliably estimate the amount of the change
 in dynamically hedged variable annuity guarantee liabilities that
 will not be offset by the profit or loss on the dynamic hedge
 assets, we make certain assumptions for the purposes of estimating
 the impact on net income attributed to shareholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 This estimate assumes that the performance of the dynamic hedging
 program would not completely offset the gain/loss from the
 dynamically hedged variable annuity guarantee liabilities. It
 assumes that the hedge assets are based on the actual position at
 the period end, and that equity hedges in the dynamic program are
 rebalanced at 5% intervals. In addition, we assume that the macro
 hedge assets are rebalanced in line with market changes.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 It is also important to note that these estimates are illustrative,
 and that the hedging program may underperform these estimates,
 particularly during periods of high realized volatility and/or
 periods where both interest rates and equity market movements are
 unfavourable.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 The Standards of Practice for the valuation of insurance contract
 liabilities and guidance published by the CIA constrain the
 investment return assumptions for public equities and certain ALDA
 assets based on historical return benchmarks for public equities.
 The potential impact on net income attributed to shareholders does
 not take into account possible changes to investment return
 assumptions resulting from the impact of declines in public equity
 market values on these historical return benchmarks.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential immediate impact on net income
 attributed to shareholders arising from changes to public equity
 returns&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1),(2),(3)&lt;/sup&gt; &lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td width="56%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-30%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-20%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+20%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+30%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Underlying sensitivity to net income attributed to
 shareholders&lt;/b&gt;&lt;font style="FONT-SIZE: 5pt"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(4)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Variable annuity guarantees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(3,650&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(2,240&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(1,040&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;890&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,610&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,170&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Asset based fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(480&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(320&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(160&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;160&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;320&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;480&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 General fund equity investments&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(1,150&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(780&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(390&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;290&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;580&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;860&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Total underlying sensitivity before hedging&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(5,280&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(3,340&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(1,590&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;1,340&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;2,510&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;3,510&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Impact of macro and dynamic hedge assets&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;3,110&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;1,940&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;910&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(820&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(1,450&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(1,930&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net potential impact on net income attributed to shareholders
 after impact of hedging&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(2,170&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(1,400&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(680&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;520&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;1,060&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;1,580&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 As at December&amp;#xA0;31, 2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-30%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-20%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+20%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+30%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" colspan="8"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Underlying sensitivity to net income attributed to
 shareholders&lt;/b&gt;&lt;font style="FONT-SIZE: 5pt"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(4)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: 0em"&gt;
 &lt;font style="FONT-SIZE: 5pt"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Variable annuity guarantees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(3,940&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(2,260&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(960&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;670&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;1,110&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;1,410&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Asset based fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(510&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(340&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(170&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;170&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;340&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;510&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 General fund equity investments&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(930&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(590&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(270&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;270&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;540&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;810&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Total underlying sensitivity before hedging&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(5,380&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(3,190&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(1,400&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&amp;#xA0;&amp;#xA0;1,110&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;1,990&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;2,730&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Impact of macro and dynamic hedge assets&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;3,220&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;1,850&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;790&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(640&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&amp;#xA0;&amp;#xA0;(1,100&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&amp;#xA0;&amp;#xA0;(1,410&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net potential impact on net income attributed to shareholders
 after impact of hedging&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(2,160&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(1,340&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(610&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;470&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;890&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;1,320&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;See &amp;#x201C;Caution Related to Sensitivities&amp;#x201D;
 above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The tables show the potential impact on net income
 attributed to shareholders resulting from an immediate 10%, 20% and
 30% change in market values of publicly traded equities followed by
 a return to the expected level of growth assumed in the valuation
 of policy liabilities.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Please refer to &amp;#x201C;Sensitivity of Earnings to
 Changes in Assumptions&amp;#x201D; for more information on the level of
 growth assumed and on the net income sensitivity to changes in
 these long-term assumptions.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Defined as earnings sensitivity to a change in public
 equity markets including settlements on reinsurance contracts, but
 before the offset of hedge assets or other risk mitigants.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;This impact for general fund equities is calculated as
 at a &lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;point-in-time&lt;/font&gt;&lt;/font&gt; and does not
 include: (i)&amp;#xA0;any potential impact on public equity weightings;
 (ii)&amp;#xA0;any gains or losses on AFS public equities held in the
 Corporate and Other segment; or (iii)&amp;#xA0;any gains or losses on
 public equity investments held in Manulife Bank. The participating
 policy funds are largely self-supporting and generate no material
 impact on net income attributed to shareholders as a result of
 changes in equity markets.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes the impact of rebalancing equity hedges in
 the macro and dynamic hedging program. The impact of dynamic hedge
 rebalancing represents the impact of rebalancing equity hedges for
 dynamically hedged variable annuity guarantee best estimate
 liabilities at 5% intervals but does not include any impact in
 respect of other sources of hedge ineffectiveness (e.g. fund
 tracking, realized volatility and equity, interest rate
 correlations different from expected among other factors).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Interest Rate and Spread Risk
 Sensitivities and Exposure Measures&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 At December&amp;#xA0;31, 2018, we estimated the sensitivity of our net
 income attributed to shareholders to a 50 basis point parallel
 decline in interest rates to be a charge of $100&amp;#xA0;million, and
 to a 50 basis point increase in interest rates to be a benefit of
 $100&amp;#xA0;million.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The table below shows the potential impact on net income attributed
 to shareholders from a 50 basis point parallel move in interest
 rates. This includes a change of 50 basis points in current
 government, swap and corporate rates for all maturities across all
 markets with no change in credit spreads between government, swap
 and corporate rates, and with a floor of zero on government rates
 where government rates are not currently negative, relative to the
 rates assumed in the valuation of policy liabilities, including
 embedded derivatives. For variable annuity guarantee liabilities
 that are dynamically hedged, it is assumed that interest rate
 hedges are rebalanced at 20 basis point intervals.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 As the sensitivity to a 50 basis point change in interest rates
 includes any associated change in the applicable reinvestment
 scenarios, the impact of changes to interest rates for less than,
 or more than 50 basis points is unlikely to be linear. Furthermore,
 our sensitivities are not consistent across all regions in which we
 operate, and the impact of yield curve changes will vary depending
 upon the geography where the change occurs. Reinvestment
 assumptions used in the valuation of policy liabilities tend to
 amplify the negative effects of a decrease in interest rates and
 dampen the positive effects of interest rate increases. This is
 because the reinvestment assumptions used in the valuation of our
 insurance liabilities are based on interest rate scenarios and
 calibration criteria set by the Canadian Actuarial Standards Board,
 while our interest rate hedges are valued using current market
 interest rates. Therefore, in any particular quarter, changes to
 the reinvestment assumptions are not fully aligned to changes in
 current market interest rates especially when there is a
 significant change in the shape of the interest rate curve. As a
 result, the impact from &lt;font style="WHITE-SPACE: nowrap"&gt;non-parallel&lt;/font&gt; movements may be
 materially different from the estimated impact of parallel
 movements. For example, if long-term interest rates increase more
 than short-term interest rates (sometimes referred to as a
 steepening of the yield curve) in North America, the decrease in
 the value of our swaps may be greater than the decrease in the
 value of our insurance liabilities. This could result in a charge
 to net income attributed to shareholders in the short-term even
 though the rising and steepening of the yield curve, if sustained,
 may have a positive long-term economic impact.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The potential impact on net income attributed to shareholders does
 not take into account any future potential changes to our URR
 assumptions or calibration criteria for stochastic risk-free rates
 or other potential impacts of lower interest rate levels, for
 example, increased strain on the sale of new business or lower
 interest earned on our surplus assets. The impact also does not
 reflect any unrealized gains or losses on AFS fixed income assets
 held in our Corporate and Other segment. Changes in the market
 value of these assets may provide a natural economic offset to the
 interest rate risk arising from our product liabilities. In order
 for there to also be an accounting offset, the Company would need
 to realize a portion of the AFS fixed income asset unrealized gains
 or losses. It is not certain we would crystallize any of the
 unrealized gains or losses available.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 The impact does not reflect any potential effect of changing
 interest rates to the value of our ALDA assets. Rising interest
 rates could negatively impact the value of our ALDA assets (see
 &amp;#x201C;Critical Accounting and Actuarial Policies &amp;#x2013; Fair
 Value of Invested Assets&amp;#x201D;, below). More information on ALDA
 can be found under the section &amp;#x201C;Alternative Long-Duration
 Asset Performance Risk Sensitivities and Exposure Measures&amp;#x201D;,
 below.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 The following table shows the potential impact on net income
 attributed to shareholders including the change in the market value
 of AFS fixed income assets held in our Corporate and Other segment,
 which could be realized through the sale of these assets.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders and MLI&amp;#x2019;s LICAT total ratio of an immediate
 parallel change in interest rates relative to rates assumed in the
 valuation of policy liabilities&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1),(2),(3),(4)&lt;/sup&gt;
 &lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td width="66%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid" bgcolor="#E9EDF2"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="6"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="9"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;2017&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&lt;font style="FONT-SIZE: 7pt" color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;-50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;+50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;-50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;+50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income attributed to shareholders ($ millions)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Excluding change in market value of AFS fixed income assets held in
 the Corporate and Other segment&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;(200&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;100&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 From fair value changes in AFS fixed income assets held in the
 Corporate and Other segment, if realized&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,600&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;1,100&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;(1,000&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;&lt;b&gt;MLI&amp;#x2019;s LICAT total ratio (Percentage
 points)&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 LICAT total ratio change in percentage points&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;See &amp;#x201C;Caution Related to Sensitivities&amp;#x201D;
 above. In addition, estimates exclude changes to the net actuarial
 gains/losses with respect to the Company&amp;#x2019;s pension
 obligations as a result of changes in interest rates, as the impact
 on the quoted sensitivities is not considered to be material.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes guaranteed insurance and annuity products,
 including variable annuity contracts as well as adjustable benefit
 products where benefits are generally adjusted as interest rates
 and investment returns change, a portion of which have minimum
 credited rate guarantees. For adjustable benefit products subject
 to minimum rate guarantees, the sensitivities are based on the
 assumption that credited rates will be floored at the minimum.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The amount of gain or loss that can be realized on AFS
 fixed income assets held in the Corporate and Other segment will
 depend on the aggregate amount of unrealized gain or loss.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Sensitivities are based on projected asset and
 liability cash flows and the impact of realizing fair value changes
 in AFS fixed income is based on the holdings at the end of the
 period.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -1%"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. The LICAT
 ratio is not applicable before January 1, 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 The following tables show the potential impact on net income
 attributed to shareholders resulting from a change in corporate
 spreads and swap spreads over government bond rates for all
 maturities across all markets with a floor of zero on the total
 interest rate, relative to the spreads assumed in the valuation of
 policy liabilities.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders and MLI&amp;#x2019;s LICAT total ratio arising from
 changes to corporate spreads and swap
 spreads&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1),(2),(3)&lt;/sup&gt; &lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td width="72%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid" bgcolor="#E9EDF2"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;b&gt;Corporate
 spreads&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;As at
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income attributed to shareholders ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(600&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;600&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;(1,000&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 MLI&amp;#x2019;s LICAT total ratio (change percentage points)&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&lt;b&gt;(6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;b&gt;Swap spreads&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;As at
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income attributed to shareholders ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="top"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;400&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;(400&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 MLI&amp;#x2019;s LICAT total ratio (change percentage points)&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&lt;b&gt;nil&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&lt;b&gt;nil&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; BORDER-TOP: rgb(233,237,242) 1px solid; BORDER-RIGHT: rgb(233,237,242) 1px solid; BORDER-BOTTOM: rgb(233,237,242) 1px solid; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BORDER-LEFT: rgb(233,237,242) 1px solid; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%; border-image: none"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;See &amp;#x201C;Caution Related to Sensitivities&amp;#x201D;
 above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The impact on net income attributed to shareholders
 assumes no gains or losses are realized on our AFS fixed income
 assets held in the Corporate and Other segment and excludes the
 impact of changes in segregated fund bond values due to changes in
 credit spreads. The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes in corporate and
 swap spreads.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Sensitivities are based on projected asset and
 liability cash flows.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Corporate spreads are assumed to grade to the
 long-term average over five years.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;As the sensitivity to a 50 basis point decline in
 corporate spreads includes the impact of a change in deterministic
 reinvestment scenarios where applicable, the impact of changes to
 corporate spreads for less than, or more than, the amounts
 indicated are unlikely to be linear.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -1%"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. Under
 LICAT, spread movements are determined from a selection of
 investment grade bond indices with BBB and better bonds for each
 jurisdiction. For LICAT, we use the following indices: FTSE TMX
 Canada All Corporate Bond Index, Barclays USD Liquid Investment
 Grade Corporate Index, and Nomura-BPI (Japan). The LICAT ratio is
 not applicable before January 1, 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Alternative Long-Duration Asset
 Performance Risk Sensitivities and Exposure Measures&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 The following table shows the potential impact on net income
 attributed to shareholders resulting from an immediate 10% change
 in market values of ALDA followed by a return to the expected level
 of growth assumed in the valuation of policy liabilities. If market
 values were to remain flat for an entire year, the potential impact
 would be roughly equivalent to an immediate decline in market
 values equal to the expected level of annual growth assumed in the
 valuation of policy liabilities. Further, if after market values
 dropped 10% they continued to decline, remained flat, or grew more
 slowly than assumed in the valuation of policy liabilities, the
 potential impact on net income attributed to shareholders could be
 considerably more than shown. Refer to &amp;#x201C;Sensitivity of
 Earnings to Changes in Assumptions&amp;#x201D; below, for more
 information on the level of growth assumed and on the net income
 sensitivity to changes in these long-term assumptions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 ALDA includes commercial real estate, timber and farmland real
 estate, oil and gas direct holdings, and private equities, some of
 which relate to oil and gas.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders arising from changes in ALDA
 returns&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1),(2),(3),(4),(5),(6)
 &lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td width="70%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" rowspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" rowspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="center"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate, agriculture and timber assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(1,300&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,200&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(1,300&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,300&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private equities and other ALDA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,600&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,600&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" align="right"&gt;(1,500&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" align="right"&gt;1,400&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Alternative long-duration assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(2,900&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,800&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(2,800&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,700&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;See &amp;#x201C;Caution Related to Sensitivities&amp;#x201D;
 above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;This impact is calculated as at a &lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;point-in-time&lt;/font&gt;&lt;/font&gt; impact and does
 not include: (i)&amp;#xA0;any potential impact on ALDA weightings or
 (ii)&amp;#xA0;any gains or losses on ALDA held in the Corporate and
 Other segment.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes in ALDA returns.
 For some classes of ALDA, where there is not an appropriate
 long-term benchmark available, the return assumptions used in
 valuation are not permitted by the Standards of Practice and CIA
 guidance to result in a lower reserve than an assumption based on a
 historical return benchmark for public equities in the same
 jurisdiction.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Net income impact does not consider any impact of the
 market correction on assumed future return assumptions.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Please refer to &amp;#x201C;Sensitivity of Earnings to
 Changes in Assumptions&amp;#x201D; below, for more information on the
 level of growth assumed and on the net income sensitivity to
 changes in these long-term assumptions.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The impact of changes to the portfolio asset mix
 supporting our North American legacy business are reflected in the
 sensitivities when the changes take place.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Foreign Exchange Risk Sensitivities and
 Exposure Measures&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 We generally match the currency of our assets with the currency of
 the insurance and investment contract liabilities they support,
 with the objective of mitigating risk of loss arising from currency
 exchange rate changes. As at December&amp;#xA0;31, 2018, we did not
 have a material unmatched currency exposure.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Liquidity Risk Exposure
 Measures&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 We manage liquidity levels of the consolidated group and key
 subsidiaries against established thresholds. We measure liquidity
 under both immediate (within one month) and ongoing (within one
 year) stress scenarios. Our policy is to maintain the ratio of
 assets to liabilities, both adjusted for their liquidity values,
 above the &lt;font style="WHITE-SPACE: nowrap"&gt;pre-established&lt;/font&gt;
 limit.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 Increased use of derivatives for hedging purposes has necessitated
 greater emphasis on measurement and management of contingent
 liquidity risk related to these instruments, in particular the
 movement of &lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;&amp;#x201C;over-the-counter&amp;#x201D;&lt;/font&gt;&lt;/font&gt;
 derivatives to central clearing in the U.S. and Japan places an
 emphasis on cash as the primary source of liquidity as opposed to
 security holdings. The market value of our derivative portfolio is
 therefore regularly stress tested to assess the potential
 collateral and cash settlement requirements under various market
 conditions.&lt;/p&gt;
 &lt;/div&gt;


 &lt;/div&gt;</mfc:FinancialInstrumentsDisclosuresUnderIFRS7Explanatory>
  <mfc:DisclosureOfSummarizedInvestedAssetsNotMeasuredAtFairValueExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_0C9E957B-643F-41A4-B4FA-05B8A6CC8A22_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Fair value and the fair value hierarchy of invested assets not
 measured at fair value.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="56%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,363&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,628&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,628&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;36,103&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,325&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,778&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,793&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,797&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,797&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate &amp;#x2013; own use property&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,016&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9,981&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,753&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;121&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,632&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total invested assets disclosed at fair value&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;104,353&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;106,906&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;121&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;38,568&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;68,217&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;46,065&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;46,065&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34,581&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;28,514&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,067&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,737&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate &amp;#x2013; own use property&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,281&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,448&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,448&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;8,280&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;8,602&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;8,514&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total invested assets disclosed at fair value&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;93,980&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;99,246&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;36,064&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;63,094&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fair value of commercial mortgages is determined
 through an internal valuation methodology using both observable and
 unobservable inputs. Unobservable inputs include credit assumptions
 and liquidity spread adjustments. Fair value of fixed-rate
 residential mortgages is determined using the discounted cash flow
 method. Inputs used for valuation are primarily comprised of
 prevailing interest rates and prepayment rates, if applicable. Fair
 value of variable-rate residential mortgages is assumed to be their
 carrying value.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fair value of private placements is determined through
 an internal valuation methodology using both observable and
 unobservable inputs. Unobservable inputs include credit assumptions
 and liquidity spread adjustments. Private placements are classified
 within Level&amp;#xA0;2 unless the liquidity adjustment constitutes a
 significant price impact, in which case the securities are
 classified as Level&amp;#xA0;3.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fair value of policy loans is equal to their unpaid
 principal balances.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fair value of fixed-rate loans to Bank clients is
 determined using the discounted cash flow method. Inputs used for
 valuation are primarily comprised of current interest rates. Fair
 value of variable-rate loans is assumed to be their carrying
 value.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fair value of own use real estate and the fair value
 hierarchy are determined in accordance with the methodologies
 described for real estate &amp;#x2013; investment property in
 note&amp;#xA0;1.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Primarily include leveraged leases, oil and gas
 properties and equity method accounted other invested assets. Fair
 value of leveraged leases is disclosed at their carrying values as
 fair value is not routinely calculated on these investments. Fair
 value for oil and gas properties is determined using external
 appraisals based on discounted cash flow methodology. Inputs used
 in valuation are primarily comprised of forecasted price curves,
 planned production, as well as capital expenditures, and operating
 costs. Fair value of equity method accounted other invested assets
 is determined using a variety of valuation techniques including
 discounted cash flows and market comparable approaches. Inputs vary
 based on the specific investment.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfSummarizedInvestedAssetsNotMeasuredAtFairValueExplanatory>
  <mfc:DisclosureOfGrossNotionalAmountAndTheFairValueOfDerivativeContractsAreDisclosedByDerivativesInQualifyingHedgingAndDerivativesNotDesignatedInQualifyingHedgingRelationshipsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E99DFB48-3C93-4010-A01E-E2F13B0470A1_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following table presents gross notional amount and fair value
 of derivative instruments by the underlying risk exposure.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td width="80%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5" colspan="3"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom" colspan="3"&gt;&lt;font style="FONT-SIZE: 7pt" color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="10" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;2017&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" rowspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" rowspan="2" colspan="2" align="right"&gt;Notional&lt;br /&gt;
 amount&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" rowspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" rowspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" rowspan="2" colspan="2" align="right"&gt;
 Notional&lt;br /&gt;
 amount&lt;/td&gt;
 &lt;td valign="bottom" rowspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Type of
 hedge&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Instrument type&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Assets&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Liabilities&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2" align="right"&gt;Assets&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2" align="right"&gt;Liabilities&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="top" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Qualifying hedge accounting relationships&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-TOP: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fair&amp;#xA0;value&amp;#xA0;hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;519&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;548&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;91&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;84&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash&amp;#xA0;flow&amp;#xA0;hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,834&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;80&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;367&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,757&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;333&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;80&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;165&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;101&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;125&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net&amp;#xA0;investment&amp;#xA0;hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency forwards&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,864&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;65&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total derivatives in qualifying hedge accounting relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,489&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;106&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;466&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,679&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;37&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;362&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Derivatives not designated in qualifying hedge&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;accounting relationships&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;300,704&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,204&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,675&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;246,270&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,984&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,251&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,297&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,551&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate options&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,736&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;314&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,093&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;312&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23,156&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;747&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,341&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,321&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;494&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,122&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Currency rate futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,052&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,157&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;29,248&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;670&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;158&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20,341&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;915&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;65&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,492&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;653&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;163&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,597&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;813&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit default swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;652&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;606&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,908&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;12,158&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total derivatives not designated in qualifying hedge accounting
 relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;410,245&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,597&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7,337&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;334,094&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;15,532&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;7,460&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total derivatives&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;414,734&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;13,703&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;7,803&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;336,773&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;15,569&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;7,822&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfGrossNotionalAmountAndTheFairValueOfDerivativeContractsAreDisclosedByDerivativesInQualifyingHedgingAndDerivativesNotDesignatedInQualifyingHedgingRelationshipsExplanatory>
  <mfc:DisclosureOfFairValueSummaryOfDerivativeContractsCategorizedByHierarchyExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_F6B1729B-2924-4B46-AF4E-B76CD4C2C550_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Fair value and the fair value hierarchy of
 derivative instruments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="65%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Derivative assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,155&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,537&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;618&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Foreign exchange contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;886&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;876&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;653&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;621&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;32&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Credit default swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total derivative assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,703&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,043&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;660&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Derivative liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,815&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,318&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;497&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Foreign exchange contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,814&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,813&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;174&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;118&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total derivative liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7,803&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7,249&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;554&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Derivative assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,199&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,181&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,018&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Foreign exchange contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;527&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;527&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;829&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;768&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;61&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Credit default swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total derivative assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;15,569&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;14,490&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,079&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Derivative liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,309&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,012&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;297&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Foreign exchange contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,490&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,490&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;23&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;13&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total derivative liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;7,822&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;7,512&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;310&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfFairValueSummaryOfDerivativeContractsCategorizedByHierarchyExplanatory>
  <mfc:DisclosureOfNetDerivativeContractsMeasuredAtFairValueUsingSignificantUnobservableInputsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_8AADF5CF-B072-4C09-9A9C-160311359C4C_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following table presents a roll forward for net derivative
 contracts measured at fair value using significant unobservable
 inputs (Level 3).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance at the beginning of the year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;769&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;163&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net realized / unrealized gains (losses) included in:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Net income&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(666&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,082&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 OCI&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(48&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Purchases&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Settlements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(103&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Transfers&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Into Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Out of Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(13&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(363&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Currency movement&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;25&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(23&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance at the end of the year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;106&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;769&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Change in unrealized gains (losses) on instruments still
 held&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(460&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;832&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These amounts are included in investment income on the
 Consolidated Statements of Income.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These amounts are included in AOCI on the Consolidated
 Statements of Financial Position.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;For derivatives transferred into and out of
 Level&amp;#xA0;3, the Company uses the fair value of the items at the
 end and beginning of the period, respectively. Transfers into
 Level&amp;#xA0;3 occur when the inputs used to price the assets and
 liabilities lack observable market data (versus the previous year).
 Transfers out of Level&amp;#xA0;3 occur when the inputs used to price
 the assets and liabilities become available from observable market
 data.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfNetDerivativeContractsMeasuredAtFairValueUsingSignificantUnobservableInputsExplanatory>
  <mfc:DescriptionOfAccountingPolicyForLiquidityRiskManagementStrategyExplanatoryPolicyTextBlock contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_278B939B-FE9F-4D96-9E63-6F5A204F9BDB_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Liquidity Risk Management
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 Global liquidity management policies and procedures are designed to
 provide adequate liquidity to cover cash and collateral obligations
 as they come due, and to sustain and grow operations in both normal
 and stressed conditions. They reflect legal, regulatory, tax,
 operational or economic impediments to inter-entity funding. The
 asset mix of our balance sheet takes into account the need to hold
 adequate unencumbered and appropriate liquid assets to satisfy the
 requirements arising under stressed scenarios and to allow our
 liquidity ratios to remain strong. We manage liquidity centrally
 and closely monitor the liquidity positions of our principal
 subsidiaries.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 We seek to mitigate liquidity risk by diversifying our business
 across different products, markets, geographical regions and
 policyholders. We design insurance products to encourage
 policyholders to maintain their
 policies&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force,&lt;/font&gt;&amp;#xA0;to help
 generate a diversified and stable flow of recurring premium income.
 We design the policyholder termination features of our wealth
 management products and related investment strategies with the goal
 of mitigating the financial exposure and liquidity risk related to
 unexpected policyholder terminations. We establish and implement
 investment strategies intended to match the term profile of the
 assets to the liabilities they support, taking into account the
 potential for unexpected policyholder terminations and resulting
 liquidity needs. Liquid assets represent a large portion of our
 total assets. We aim to reduce liquidity risk in our deposit funded
 businesses by diversifying our funding sources and appropriately
 managing the term structure of our funding. We forecast and monitor
 daily operating liquidity and cash movements in various individual
 entities and operations as well as centrally, aiming to ensure
 liquidity is available and cash is employed optimally.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 We also maintain centralized cash pools and access to other sources
 of liquidity and contingent liquidity such as repurchase funding
 agreements. Our centralized cash pool consists of cash or
 near-cash, high quality short-term investments that are continually
 monitored for their credit quality and market liquidity.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 We have established a variety of contingent liquidity sources. We
 maintain a $500&amp;#xA0;million committed unsecured revolving credit
 facility with certain Canadian chartered banks available for MFC,
 and a US$500&amp;#xA0;million committed unsecured revolving credit
 facility with certain U.S. banks available for MFC and certain of
 its subsidiaries. There were no outstanding borrowings under these
 credit facilities as of December&amp;#xA0;31, 2018. In addition, John
 Hancock (&amp;#x201C;JH&amp;#x201D;) USA is a member of the Federal Home Loan
 Bank of Indianapolis (&amp;#x201C;FHLBI&amp;#x201D;), which enables the
 Company to obtain loans from FHLBI as an alternative source of
 liquidity that is collaterizable by qualifying mortgage loans,
 mortgage-backed securities and U.S. Treasury and Agency securities.
 Based on regulatory limitations, as of December&amp;#xA0;31, 2018,
 JHUSA had an estimated maximum borrowing capacity of
 US$3.8&amp;#xA0;billion under the FHLBI facility, with no amounts
 outstanding.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 The following table outlines the maturity of the Company&amp;#x2019;s
 significant financial liabilities.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Maturity of financial
 liabilities&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="58%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Less than&lt;br /&gt;
 1 year&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;1 to 3&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;3 to 5&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Over 5&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;681&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,088&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,769&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;359&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;229&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;227&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,988&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,803&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deposits from Bank clients&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,351&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,147&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,185&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,684&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Lease obligations&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;129&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;203&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;93&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;150&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;575&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The amounts shown above are net of the related
 unamortized deferred issue costs.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Carrying value and fair value of deposits from Bank
 clients as at December&amp;#xA0;31, 2018 was $19,684&amp;#xA0;million and
 $19,731&amp;#xA0;million, respectively (2017 &amp;#x2013;
 $18,131&amp;#xA0;million and $18,149&amp;#xA0;million, respectively). Fair
 value is determined by discounting contractual cash flows, using
 market interest rates currently offered for deposits with similar
 terms and conditions. All deposits from Bank clients were
 categorized in Level&amp;#xA0;2 of the fair value hierarchy (2017
 &amp;#x2013; Level&amp;#xA0;2).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 Through the normal course of business, pledging of assets is
 required to comply with jurisdictional regulatory and other
 requirements including collateral pledged to partially mitigate
 derivative counterparty credit risk, assets pledged to exchanges as
 initial margin and assets held as collateral for repurchase funding
 agreements. Total unencumbered assets were $427.9 billion as at
 December&amp;#xA0;31, 2018 (2017 &amp;#x2013; $396.8 billion).&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Liquidity Risk Exposure
 Measures&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 We manage liquidity levels of the consolidated group and key
 subsidiaries against established thresholds. We measure liquidity
 under both immediate (within one month) and ongoing (within one
 year) stress scenarios. Our policy is to maintain the ratio of
 assets to liabilities, both adjusted for their liquidity values,
 above the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pre-established&lt;/font&gt;&amp;#xA0;limit.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 Increased use of derivatives for hedging purposes has necessitated
 greater emphasis on measurement and management of contingent
 liquidity risk related to these instruments, in particular the
 movement of&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;&amp;#x201C;over-the-counter&amp;#x201D;&lt;/font&gt;&lt;/font&gt;&amp;#xA0;derivatives
 to central clearing in the U.S. and Japan places an emphasis on
 cash as the primary source of liquidity as opposed to security
 holdings. The market value of our derivative portfolio is therefore
 regularly stress tested to assess the potential collateral and cash
 settlement requirements under various market conditions.&lt;/p&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForLiquidityRiskManagementStrategyExplanatoryPolicyTextBlock>
  <mfc:DisclosureOfConsolidatedCapitalInComplianceWithMinimumContinuingCapitalAndSurplusRequirementExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_826AFFD6-589D-470B-A4CA-C5E81ABFDFB5_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Consolidated capital&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total equity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;47,151&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;42,163&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Adjusted for AOCI loss on cash flow hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(127&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(109&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total equity excluding AOCI on cash flow hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;47,278&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;42,272&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Qualifying capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;8,387&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Consolidated capital&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56,010&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;50,659&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfConsolidatedCapitalInComplianceWithMinimumContinuingCapitalAndSurplusRequirementExplanatory>
  <mfc:DisclosureOfSummarizedDeferredTaxesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_B03AE792-D7CE-45DD-B65D-A605B5173B22_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The following table presents the Company&amp;#x2019;s deferred tax
 assets and liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December 31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deferred tax assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,318&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,569&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deferred tax liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,814&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(1,281&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net deferred tax assets (liabilities)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,504&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;3,288&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfSummarizedDeferredTaxesExplanatory>
  <mfc:DisclosureOfCarryingValueOfAssetsBackingNetInsuranceContractLiabilitiesOtherLiabilitiesAndCapitalExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_1ED9BD2B-19E6-477D-BD64-F2CA540FEC89_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the carrying value of assets backing
 net insurance contract liabilities, other liabilities and
 capital.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="45%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;Individual
 insurance&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Participating&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;participating&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Annuities&lt;br /&gt;
 and pensions&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Capital&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;67,387&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;20,469&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;28,435&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,061&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;28,308&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;185,594&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,416&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,562&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;172&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;262&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;589&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,178&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,218&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,111&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,972&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;21,295&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;35&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,363&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,151&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,131&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,960&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,581&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,772&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;159&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,106&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,028&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,799&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;397&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;233&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,777&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9,061&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;22,816&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,785&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,427&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;374,418&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;23,097&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;448,604&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;57,886&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;127,035&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;39,572&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;61,236&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;408,532&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;56,010&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;750,271&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" height="16" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#FFFFFF" valign="bottom" colspan="6" align="center"&gt;Individual
 insurance&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Participating&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;participating&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Annuities&lt;br /&gt;
 and pensions&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Capital&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;27,946&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;63,128&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26,621&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;25,211&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,635&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24,459&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;174,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9,264&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,855&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;171&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;332&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,029&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,894&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21,545&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,017&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,286&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,009&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,891&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,476&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;63&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,645&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,128&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,059&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,739&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;367&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;194&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,963&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,198&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,136&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,516&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;769&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;228&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,810&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;6,603&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;16,285&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;6,720&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;15,523&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;377,352&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;20,821&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;443,304&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;52,438&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;113,880&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;49,716&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;58,212&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;404,628&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;50,659&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;729,533&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other insurance contract liabilities include group
 insurance and individual and group health including long-term care
 insurance.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other liabilities are&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-insurance&lt;/font&gt;&amp;#xA0;contract
 liabilities which include segregated funds, bank deposits,
 long-term debt, deferred tax liabilities, derivatives, investment
 contracts, embedded derivatives and other miscellaneous
 liabilities.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Capital is defined in note 13.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfCarryingValueOfAssetsBackingNetInsuranceContractLiabilitiesOtherLiabilitiesAndCapitalExplanatory>
  <mfc:DisclosureOfAnnualReviewOfActuarialMethodsAndAssumptionsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_69CFC5B0-1086-47C3-8D6B-C255A9EE1A74_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The completion of the 2018 annual review of actuarial methods and
 assumptions resulted in a decrease in insurance contract
 liabilities of $174, net of reinsurance, and a decrease in net
 income attributed to shareholders of $51 &lt;font style="WHITE-SPACE: nowrap"&gt;post-tax.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="86%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Change in insurance contract liabilities,&lt;br /&gt;
 net of reinsurance&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Attributed to&lt;br /&gt;
 participating&lt;br /&gt;
 policyholders&amp;#x2019;&lt;br /&gt;
 account&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Attributed to&lt;br /&gt;
 shareholders&amp;#x2019;&lt;br /&gt;
 account&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Change&amp;#xA0;in&amp;#xA0;net&lt;br /&gt;
 income&amp;#xA0;attributed&lt;br /&gt;
 to shareholders&lt;br /&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;(post-tax)&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortality and morbidity updates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;319&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;(192&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;511&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;(360&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Lapses and policyholder behaviour&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;287&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;287&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(226&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment return assumptions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(96&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;50&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(146&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;143&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other updates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(684&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(94&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(590&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;392&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net impact&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;(174&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;$&amp;#xA0;&amp;#xA0;(236&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;62&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(51&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="85%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="10" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Change in insurance contract liabilities,&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;net of reinsurance&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Attributed to&lt;br /&gt;
 participating&lt;br /&gt;
 policyholders&amp;#x2019;&lt;br /&gt;
 account&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Attributed to&lt;br /&gt;
 shareholders&amp;#x2019;&lt;br /&gt;
 account&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Change&amp;#xA0;in&amp;#xA0;net&lt;br /&gt;
 income&amp;#xA0;attributed&lt;br /&gt;
 to shareholders&lt;br /&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;(post-tax)&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortality and morbidity updates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(254&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(263&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;299&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Lapses and policyholder behaviour&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,019&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,019&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(783&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other updates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 ALDA and public equity investment return assumptions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,296&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,291&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(892&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate spread assumptions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(515&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(514&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;344&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Refinements to liability and tax cash flows&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,049&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,049&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;696&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(220&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;84&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(304&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;301&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net impact&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;277&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;97&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;180&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(35&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfAnnualReviewOfActuarialMethodsAndAssumptionsExplanatory>
  <mfc:DisclosureOfInvestmentIncomeExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_8DBB4A50-96D3-46B0-9DE8-7FAED94D2A59_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Investment income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="67%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Other&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;268&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(74&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;62&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(12&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;5,432&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;646&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,078&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(5,993&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(310&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(6,303&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Recovery (impairment loss), net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Dividend income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;484&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;556&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,596&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;330&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,266&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(43&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(43&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,824&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,824&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Provision, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,729&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,729&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;371&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;371&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;81&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;81&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Provision, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Rental income, net of depreciation&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;515&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;515&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;689&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(33&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;656&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,251&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,224&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;74&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;74&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Oil and gas, timber, agriculture and other income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,758&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,758&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;283&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(110&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;173&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(114&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(120&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total investment income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,992&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,003&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,521&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,532&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,139&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;896&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,046&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,081&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Dividend, rental and other income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;484&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,273&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,829&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairments, provisions and recoveries, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(47&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(133&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(164&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(271&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;58&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(186&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,368&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;979&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,213&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,560&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Realized and unrealized gains (losses) on assets supporting
 insurance and investment contract liabilities and on macro equity
 hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(6,012&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(5,994&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,454&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,444&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;55&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;55&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;449&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;449&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;357&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(140&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;213&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Derivatives, including macro equity hedging program&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,251&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,224&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9,360&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;24&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;308&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(9,028&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total investment income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,992&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,003&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;6,521&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,532&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 8px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="66%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;FVTPL&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;AFS&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Other&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;153&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;160&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(25&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,102&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;577&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,679&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,690&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(205&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,485&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Recovery (impairment loss), net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Dividend income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;524&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;79&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;603&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,372&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;226&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,598&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,685&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,685&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;69&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;69&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Provision, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(32&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(32&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,553&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,553&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;43&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;43&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;365&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;365&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;68&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;68&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Rental income, net of depreciation&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;517&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;517&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;341&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;341&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;809&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;84&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;893&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,029&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;84&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(945&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;174&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;174&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Oil and gas, timber, agriculture and other income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,690&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,690&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;441&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;50&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;484&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(45&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(45&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total investment income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;11,954&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;761&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;6,652&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;19,367&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,918&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;730&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,929&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,577&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Dividend, rental and other income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;524&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;79&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,207&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,810&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairments, provisions and recoveries, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(71&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(70&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;460&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(51&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(77&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;332&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;6,918&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;743&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,988&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;13,649&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Realized and unrealized gains (losses) on assets supporting
 insurance and investment contract liabilities and on macro equity
 hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,694&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,686&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,200&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,235&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;69&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;69&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;350&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;350&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;329&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;121&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;441&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Derivatives, including macro equity hedging program&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,187&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;84&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,103&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,036&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;18&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;664&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,718&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total investment income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;11,954&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;761&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;6,652&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;19,367&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Primarily includes investment income on loans carried
 at amortized cost, own use properties, investment properties,
 derivative and hedging instruments in cash flow hedging
 relationships, equity method accounted investments, oil and gas
 investments, and leveraged leases.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes net realized and unrealized gains (losses)
 for financial instruments at FVTPL, real estate investment
 properties, and other invested assets measured at fair value. Also
 includes net realized gains (losses) for financial instruments at
 AFS and other invested assets carried at amortized cost.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Rental income from investment properties is net of
 direct operating expenses.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfInvestmentIncomeExplanatory>
  <mfc:DisclosureOfPledgeOfAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_EAC6CF8A-2A20-4CAE-8252-E90712149B43_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The amounts pledged are as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="60%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Debt
 securities&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Debt securities&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 In respect of:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,655&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;102&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,189&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Regulatory requirements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;412&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;84&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;398&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;86&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Repurchase agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;64&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;228&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-registered&lt;/font&gt; retirement
 plans in trust&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;420&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;412&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;301&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;271&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,134&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;907&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,818&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;815&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfPledgeOfAssetsExplanatory>
  <mfc:DisclosureOfSegregatedFundsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_4B7E3E65-CB32-446A-A50B-DC6BA1BFE8A8_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 22&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Segregated
 Funds&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company manages segregated funds on behalf of policyholders.
 Policyholders are provided with the opportunity to invest in
 different categories of segregated funds that respectively hold a
 range of underlying investments. The Company retains legal title to
 the underlying investments; however, returns from these investments
 belong to the policyholders. Accordingly, the Company does not bear
 the risk associated with these assets outside of guarantees offered
 on certain variable life and annuity products. The &amp;#x201C;Risk
 Management&amp;#x201D; section of the Company&amp;#x2019;s 2018 MD&amp;amp;A
 provides information regarding the variable annuity and segregated
 fund guarantees.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The composition of net assets by categories of segregated funds was
 within the following ranges for the years ended December&amp;#xA0;31,
 2018 and 2017.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="76%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"&gt;Ranges in per cent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;Type of fund&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Money market funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;2%&amp;#xA0;to&amp;#xA0;3%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;2% to 3%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed income funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;14%&amp;#xA0;to&amp;#xA0;15%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 14%&amp;#xA0;to&amp;#xA0;15%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balanced funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;25% to 26%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;22% to 29%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;58% to
 60%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;55% to 60%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Money market funds consist of investments that have a term to
 maturity of less than one year. Fixed income funds primarily
 consist of investments in fixed grade income securities and may
 contain smaller investments in diversified equities or high-yield
 bonds. Relative to fixed income funds, balanced funds consist of
 fixed income securities and a larger equity investment component.
 The types of equity funds available to policyholders range from low
 volatility equity funds to aggressive equity funds. Equity funds
 invest in a varying mix of Canadian, U.S. and global equities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The underlying investments of the segregated funds consist of both
 individual securities and mutual funds (collectively &amp;#x201C;net
 assets&amp;#x201D;), some of which may be structured entities. The
 carrying value and change in segregated funds net assets are as
 follows. Fair value related information of segregated funds is
 disclosed in note 3(g).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Segregated funds net assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="79%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Investments at market value&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,700&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,756&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,313&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,472&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,661&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,624&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Mutual funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;277,133&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;288,007&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,678&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,514&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Accrued investment income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,811&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other assets and liabilities, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(700&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(766&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total segregated funds net assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;313,596&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;324,808&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Composition of segregated funds net assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Held by policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Held by the Company&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;387&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;501&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total segregated funds net assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;313,596&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;324,808&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Changes in segregated funds net
 assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="79%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net policyholder cash flow&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deposits from policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;38,236&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34,776&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net transfers to general fund&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,089&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,734&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Payments to policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(47,475&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(46,305&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(10,328&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(13,263&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Investment related&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest and dividends&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,535&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,930&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net realized and unrealized investment gains (losses)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(34,683&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;24,384&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(15,148&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;41,314&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Other&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Management and administration fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,985&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4,161&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18,249&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(14,790&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14,264&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(18,951&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net additions (deductions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(11,212&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9,100&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net assets, beginning of year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;324,808&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;315,708&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Segregated funds net assets, end of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;313,596&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;324,808&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Segregated funds assets may be exposed to a variety of financial
 and other risks. These risks are primarily mitigated by investment
 guidelines that are actively monitored by professional and
 experienced portfolio advisors. The Company is not exposed to these
 risks beyond the liabilities related to the guarantees associated
 with certain variable life and annuity products. Accordingly, the
 Company&amp;#x2019;s exposure to loss from segregated fund products is
 limited to the value of these guarantees.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 These guarantees are recorded within the Company&amp;#x2019;s insurance
 contract liabilities. Assets supporting these guarantees are
 recognized in invested assets according to their investment
 type.&lt;/p&gt;


 &lt;/div&gt;</mfc:DisclosureOfSegregatedFundsExplanatory>
  <mfc:DisclosureOfCapitalInstrumentsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_456BB43C-876E-4DF0-8590-B08718699BAB_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Carrying value of capital
 instruments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="40%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Issuance date&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Earliest&amp;#xA0;par&amp;#xA0;redemption&lt;br /&gt;
 date&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Maturity date&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Par value&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 7.535% MFCT II Senior debenture notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;July&amp;#xA0;10, 2009&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;31,&amp;#xA0;2019&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;31,&amp;#xA0;2108&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,000&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 JHFC Subordinated notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;14,&amp;#xA0;2006&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;15, 2036&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;650&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;647&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;647&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 4.061% MFC Subordinated notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;24, 2017&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;24,&amp;#xA0;2027&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;24, 2032&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 US$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;750&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,017&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;935&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.00% MFC Subordinated notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;21,&amp;#xA0;2017&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;21,&amp;#xA0;2024&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;21,&amp;#xA0;2029&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 S$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;498&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;467&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.049% MFC Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;August&amp;#xA0;18, 2017&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;August&amp;#xA0;20, 2024&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;August&amp;#xA0;20, 2029&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;750&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;747&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;746&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.317% MFC Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;9, 2018&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;9, 2023&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;9, 2028&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;600&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;597&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.181% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;20, 2015&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;22, 2022&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;22, 2027&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;997&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;996&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 3.85% MFC Subordinated notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;25, 2016&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;25, 2021&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;May&amp;#xA0;25, 2026&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 S$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;499&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;467&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.389% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;June&amp;#xA0;1, 2015&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;January&amp;#xA0;5, 2021&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;January&amp;#xA0;5, 2026&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;350&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;349&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;349&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.10% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;March&amp;#xA0;10, 2015&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;June&amp;#xA0;1, 2020&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;June&amp;#xA0;1, 2025&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;750&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;749&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;748&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.64% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;December&amp;#xA0;1, 2014&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;January&amp;#xA0;15, 2020&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;January&amp;#xA0;15, 2025&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;499&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.811% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;21, 2014&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;21, 2019&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;21, 2024&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;499&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 7.375% JHUSA Surplus notes&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;25, 1994&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;February&amp;#xA0;15, 2024&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 US$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;450&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;632&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;584&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.926% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;29, 2013&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;29, 2018&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;November&amp;#xA0;29, 2023&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;250&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;250&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2.819% MLI Subordinated debentures&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 February&amp;#xA0;25, 2013&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 February&amp;#xA0;26, 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 February&amp;#xA0;26, 2023&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;200&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;200&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;8,732&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&amp;#xA0;&amp;#xA0;8,387&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Issued by MLI to Manulife Financial Capital Trust II
 (MFCT II), a wholly owned unconsolidated related party to the
 Company. On the earliest par redemption date and on every fifth
 anniversary thereafter (each, a &amp;#x201C;Interest Reset Date&amp;#x201D;),
 the rate of interest will reset to equal the yield
 on&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;5-year&lt;/font&gt;&amp;#xA0;Government of
 Canada bonds plus 5.2%. With regulatory approval, MLI may redeem
 the debentures, in whole or in part, on the earliest par redemption
 date and on any Interest Reset Date, at a redemption price equal to
 par, together with accrued and unpaid interest. The redemption
 price for the debentures redeemed on any day that is not an
 Interest Reset Date will be equal to the greater of par or the fair
 value of the debt based on the yield on uncallable Government of
 Canada bonds to the next Interest Reset Date plus (a) 1.0325% if
 the redemption date is on or after December&amp;#xA0;31, 2014, but
 prior to December&amp;#xA0;31, 2019, or (b) 2.065% if the redemption
 date is after December&amp;#xA0;31, 2019, together with accrued and
 unpaid interest. Refer to note 17.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Issued by Manulife Holdings (Delaware) LLC
 (&amp;#x201C;MHDLL&amp;#x201D;), now John Hancock Financial Corporation
 (&amp;#x201C;JHFC&amp;#x201D;), a wholly owned subsidiary of MFC, to Manulife
 Finance (Delaware) LLC (&amp;#x201C;MFLLC&amp;#x201D;), a subsidiary of
 Manulife Finance (Delaware) L.P. (&amp;#x201C;MFLP&amp;#x201D;). MFLP and its
 subsidiaries are wholly owned unconsolidated related parties to the
 Company. The note bears interest at a floating rate equal to
 the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;90-day&lt;/font&gt;&amp;#xA0;Bankers&amp;#x2019;
 Acceptance rate plus 0.72%. With regulatory approval, JHFC may
 redeem the note, in whole or in part, at any time, at par, together
 with accrued and unpaid interest. Refer to note 17.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On the earliest par redemption date, the interest rate
 will reset to equal the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;5-Year&lt;/font&gt;&amp;#xA0;US&amp;#xA0;Dollar&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;Mid-Swap&lt;/font&gt;&amp;#xA0;Rate
 plus 1.647%. With regulatory approval, MFC may redeem the
 debentures, in whole, but not in part, on the earliest par
 redemption date, at a redemption price equal to par, together with
 accrued and unpaid interest.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On the earliest par redemption date, the interest rate
 will reset to equal the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;5-year&lt;/font&gt;&amp;#xA0;Singapore
 Dollar Swap Rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.00% &amp;#x2013; 83.2
 bps, 3.85% &amp;#x2013; 197 bps. With regulatory approval, MFC may
 redeem the debentures, in whole, but not in part, on the earliest
 par redemption date and thereafter on each interest payment date,
 at a redemption price equal to par, together with accrued and
 unpaid interest.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Interest is fixed for the period up to the earliest
 par redemption date, thereafter, the interest rate will reset to a
 floating rate equal to the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;90-day&lt;/font&gt;&amp;#xA0;Bankers&amp;#x2019;
 Acceptance rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.049% &amp;#x2013; 105
 bps, 3.317% &amp;#x2013; 78 bps. With regulatory approval, MFC may
 redeem the debentures, in whole or in part, on or after the
 earliest par redemption date, at a redemption price equal to par,
 together with accrued and unpaid interest.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Interest is fixed for the period up to the earliest
 par redemption date, thereafter the interest rate will reset to a
 floating rate equal to the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;90-day&lt;/font&gt;&amp;#xA0;Bankers&amp;#x2019;
 Acceptance rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.181% &amp;#x2013; 157
 bps, 2.389% &amp;#x2013; 83 bps, 2.10% &amp;#x2013; 72 bps, 2.64% &amp;#x2013; 73
 bps, 2.811% &amp;#x2013; 80 bps. With regulatory approval, MLI may
 redeem the debentures, in whole or in part, on or after the
 earliest par redemption date, at a redemption price equal to par,
 together with accrued and unpaid interest.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Issued by John Hancock Mutual Life Insurance Company,
 now John Hancock Life Insurance Company (U.S.A.). Any payment of
 interest or principal on the surplus notes requires prior approval
 from the Department of Insurance and Financial Services of the
 State of Michigan. The carrying value of the surplus notes reflects
 an unamortized fair value increment of US$20 (2017 &amp;#x2013; US$23),
 which arose as a result of the acquisition of John Hancock
 Financial Services, Inc. The amortization of the fair value
 adjustment is recorded in interest expense.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MLI redeemed in full the 2.926% and 2.819%
 subordinated debentures at par, on November&amp;#xA0;29, 2018 and
 February&amp;#xA0;26, 2018, respectively, the earliest par redemption
 dates.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;


 &lt;/div&gt;</mfc:DisclosureOfCapitalInstrumentsExplanatory>
  <mfc:DisclosureOfComparativesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_907473FF-12AA-461B-9ACF-68A94D0B3072_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note
 24&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Comparatives&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Certain comparative amounts have been reclassified to conform to
 the current year&amp;#x2019;s presentation.&lt;/p&gt;


 &lt;/div&gt;</mfc:DisclosureOfComparativesExplanatory>
  <mfc:DisclosureOfReconciliationOfNumberOfSharesOutstandingExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E5A71CE6-02EB-47F4-8885-BA666DC82BDE_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following is a reconciliation of the denominator (number of
 shares) in the calculation of basic and diluted earnings per
 share.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Weighted average number of common shares (in millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,983&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,978&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Dilutive stock-based awards&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt; (in millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Weighted average number of diluted common shares (in
 millions)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,988&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;1,986&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 4pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The dilutive effect of stock-based awards was
 calculated using the treasury stock method. This method calculates
 the number of incremental shares by assuming the outstanding
 stock-based awards are (i)&amp;#xA0;exercised and (ii)&amp;#xA0;then
 reduced by the number of shares assumed to be repurchased from the
 issuance proceeds, using the average market price of MFC common
 shares for the year. Excluded from the calculation was a weighted
 average of 7&amp;#xA0;million (2017 &amp;#x2013; 2 million) anti-dilutive
 stock-based awards.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfReconciliationOfNumberOfSharesOutstandingExplanatory>
  <mfc:DisclosureOfIssuedCapitalAndEarningsPerShareExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_A20B99AD-1C12-4FC8-8621-9F7689799E48_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 12&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Share
 Capital and Earnings Per Share&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The authorized capital of MFC consists of:&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;an unlimited number of common shares without nominal
 or par value; and&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;an unlimited number of Class&amp;#xA0;A, Class&amp;#xA0;B and
 Class&amp;#xA0;1 preferred shares without nominal or par value,
 issuable in series.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Preferred shares&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The changes in issued and outstanding preferred shares are as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="88%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 shares&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Amount&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 shares&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Amount&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;146&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,577&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;146&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,577&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issued, Class&amp;#xA0;1 shares, Series 25&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issuance costs, net of tax&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(5&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;156&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;3,822&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;146&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;3,577&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On February&amp;#xA0;20, 2018, MFC issued 10&amp;#xA0;million
 of&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-Cumulative&lt;/font&gt;&amp;#xA0;Rate
 Reset Class&amp;#xA0;1 Shares Series 25 at a price of $25 per share for
 gross proceeds of $250.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Additional information for the outstanding preferred shares as at
 December&amp;#xA0;31, 2018&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="38%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Issue date&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Annual&lt;br /&gt;
 dividend&lt;br /&gt;
 rate&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Earliest&amp;#xA0;redemption&lt;br /&gt;
 date&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Number of&lt;br /&gt;
 shares&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Face&lt;br /&gt;
 amount&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net&lt;br /&gt;
 amount&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top" colspan="4"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;A preferred shares&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; TEXT-INDENT: 0em"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 2&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;February&amp;#xA0;18,&amp;#xA0;2005&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.65%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;350&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;344&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 3&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;January&amp;#xA0;3, 2006&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.50%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;300&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;294&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top" colspan="4"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 preferred shares&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; TEXT-INDENT: 0em"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 3&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;March&amp;#xA0;11, 2011&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2.178%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;June&amp;#xA0;19, 2021&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;158&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;155&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 4&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;June&amp;#xA0;20, 2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;floating&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;42&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;41&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 5&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;December&amp;#xA0;6,&amp;#xA0;2011&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.891%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;December&amp;#xA0;19,&amp;#xA0;2021&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;200&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;195&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 7&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;February&amp;#xA0;22, 2012&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.312%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;March&amp;#xA0;19, 2022&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;250&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;244&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 9&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;May&amp;#xA0;24, 2012&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.351%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;September&amp;#xA0;19,&amp;#xA0;2022&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;250&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;244&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 11&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5),(7)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;December&amp;#xA0;4, 2012&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.731%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;March&amp;#xA0;19, 2023&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;200&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;196&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 13&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5),(8)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;June&amp;#xA0;21, 2013&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.414%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;September&amp;#xA0;19, 2023&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;200&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;196&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 15&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;February&amp;#xA0;25, 2014&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.90%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;June&amp;#xA0;19, 2019&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;200&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;195&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 17&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;August&amp;#xA0;15, 2014&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.90%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;December&amp;#xA0;19, 2019&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;350&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;343&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 19&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;December&amp;#xA0;3, 2014&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.80%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;March&amp;#xA0;19, 2020&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;250&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;246&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 21&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;February&amp;#xA0;25, 2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5.60%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;June&amp;#xA0;19, 2021&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;425&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;417&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 23&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;November&amp;#xA0;22,&amp;#xA0;2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.85%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;March&amp;#xA0;19, 2022&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;475&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;467&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 25&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;February&amp;#xA0;20, 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4.70%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;June&amp;#xA0;19, 2023&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;250&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;245&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;156&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&amp;#xA0;&amp;#xA0;3,900&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;3,822&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Holders of Class&amp;#xA0;A and Class&amp;#xA0;1 preferred
 shares are entitled to receive&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-cumulative&lt;/font&gt;&amp;#xA0;preferential
 cash dividends on a quarterly basis, as and when declared by the
 Board of Directors.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Redemption of all preferred shares is subject to
 regulatory approval. MFC may redeem each series, in whole or in
 part, at par, on the earliest redemption date or every five years
 thereafter, with the exception of Class&amp;#xA0;A Series 2,
 Class&amp;#xA0;A Series 3 and Class&amp;#xA0;1 Series 4 preferred shares.
 Class&amp;#xA0;A Series 2 and Series 3 preferred shares are past their
 respective earliest redemption date and MFC may redeem these
 shares, in whole or in part, at par at any time, subject to
 regulatory approval, as noted. MFC may redeem the Class&amp;#xA0;1
 Series 4, in whole or in part, at any time, at $25.00 per share if
 redeemed on June&amp;#xA0;19, 2021 and on June&amp;#xA0;19 every five years
 thereafter, or at $25.50 per share if redeemed on any other date
 after June&amp;#xA0;19, 2016, subject to regulatory approval, as
 noted.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Net of&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;after-tax&lt;/font&gt;&amp;#xA0;issuance
 costs.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On the earliest redemption date and every five years
 thereafter, the annual dividend rate will be reset to the five-year
 Government of Canada bond yield plus a yield specified for each
 series. The specified yield for Class&amp;#xA0;1 shares is: Series 3
 &amp;#x2013; 1.41%, Series 5 &amp;#x2013; 2.90%, Series 7 &amp;#x2013; 3.13%,
 Series 9 &amp;#x2013; 2.86%, Series 11 &amp;#x2013; 2.61%,
 Series&amp;#xA0;13&amp;#xA0;&amp;#x2013;&amp;#xA0;2.22%, Series 15 &amp;#x2013; 2.16%,
 Series 17 &amp;#x2013; 2.36%, Series 19 &amp;#x2013; 2.30%, Series 21 &amp;#x2013;
 4.97%, Series 23 &amp;#x2013; 3.83% and Series 25 &amp;#x2013; 2.55%.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On the earliest redemption date and every five years
 thereafter, Class&amp;#xA0;1 preferred shares are convertible at the
 option of the holder into a new series that is one number higher
 than their existing series, and the holders are entitled
 to&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-cumulative&lt;/font&gt;&amp;#xA0;preferential
 cash dividends, payable quarterly if and when declared by the Board
 of Directors, at a rate equal to the three month Government of
 Canada Treasury bill yield plus the rate specified in footnote 4
 above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The floating dividend rate for the Class&amp;#xA0;1 Shares
 Series 4 equals the three-month Government of Canada Treasury bill
 yield plus 1.41%.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MFC did not exercise its right to redeem all or any of
 the outstanding Class&amp;#xA0;1 Shares Series 11 on March&amp;#xA0;19,
 2018 (the earliest redemption date). Dividend rate for Class&amp;#xA0;1
 Shares Series 11 was reset as specified in footnote 4 above to an
 annual fixed rate of 4.731% for a five-year period commencing on
 March&amp;#xA0;20, 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MFC did not exercise its right to redeem all or any of
 the outstanding Class&amp;#xA0;1 Shares Series 13 on September&amp;#xA0;19,
 2018 (the earliest redemption date). Dividend rate for Class&amp;#xA0;1
 Shares Series 13 was reset as specified in footnote 4 above to an
 annual fixed rate of 4.414% for a five-year period commencing on
 September&amp;#xA0;20, 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Common shares&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The changes in common shares issued and outstanding are as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="64%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 shares&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Amount&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 shares&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Amount&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,982&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;22,989&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,975&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22,865&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Repurchased for cancellation&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(23&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(269&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issued under dividend reinvestment plan&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;182&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issued on exercise of stock options and deferred share units&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;59&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;124&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,971&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;22,961&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;1,982&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;22,989&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Normal Course Issuer Bid&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 On November&amp;#xA0;12, 2018, the Company announced that the Toronto
 Stock Exchange approved a normal course issuer bid
 (&amp;#x201C;NCIB&amp;#x201D;) permitting the purchase for cancellation of up
 to 40&amp;#xA0;million MFC common shares. Purchases under the NCIB
 commenced on November&amp;#xA0;14, 2018 and may continue until
 November&amp;#xA0;13, 2019, when the NCIB expires, or such earlier date
 as the Company completes its purchases. As at December 31, 2018,
 the Company had repurchased 23 million shares for $478. Of this,
 $269 was recorded in common shares and $209 was recorded in
 retained earnings in the Consolidated Statements of Changes in
 Equity.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Dividend Reinvestment Plan&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company offers a Dividend Reinvestment Program
 (&amp;#x201C;DRIP&amp;#x201D;) whereby shareholders may elect to
 automatically reinvest dividends in the form of MFC common shares
 instead of receiving cash. The offering of the program and its
 terms of execution are subject to the Board of Directors&amp;#x2019;
 discretion. For the first three quarters of 2018, common shares in
 connection with DRIP were purchased on the open market with no
 applicable discount. For the dividend paid on December&amp;#xA0;19,
 2018, the required common shares were purchased from treasury with
 a two per cent (2%) discount from the market price.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Earnings per share&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents basic and diluted earnings per common
 share of the Company.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Basic earnings per common share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2.34&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;0.98&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Diluted earnings per common share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2.33&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;0.98&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following is a reconciliation of the denominator (number of
 shares) in the calculation of basic and diluted earnings per
 share.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Weighted average number of common shares (in millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,983&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,978&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Dilutive stock-based awards&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&amp;#xA0;(in
 millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Weighted average number of diluted common shares (in
 millions)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,988&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;1,986&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 4pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The dilutive effect of stock-based awards was
 calculated using the treasury stock method. This method calculates
 the number of incremental shares by assuming the outstanding
 stock-based awards are (i)&amp;#xA0;exercised and (ii)&amp;#xA0;then
 reduced by the number of shares assumed to be repurchased from the
 issuance proceeds, using the average market price of MFC common
 shares for the year. Excluded from the calculation was a weighted
 average of 7&amp;#xA0;million (2017 &amp;#x2013; 2 million) anti-dilutive
 stock-based awards.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Quarterly dividend declaration
 subsequent to year end&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 On February&amp;#xA0;13, 2019, the Company&amp;#x2019;s Board of Directors
 approved a quarterly dividend of $0.25 per share on the common
 shares of MFC, payable on or after March&amp;#xA0;19, 2019 to
 shareholders of record at the close of business on
 February&amp;#xA0;27, 2019.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Board also declared dividends on the
 following&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-cumulative&lt;/font&gt;&amp;#xA0;preferred
 shares, payable on or after March&amp;#xA0;19, 2019 to shareholders of
 record at the close of business on February&amp;#xA0;27, 2019.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="51%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td width="48%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;A Shares Series 2 &amp;#x2013; $0.29063 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 13 &amp;#x2013; $0.275875
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;A Shares Series 3 &amp;#x2013; $0.28125 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 15 &amp;#x2013; $0.24375
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 3 &amp;#x2013; $0.136125 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 17 &amp;#x2013; $0.24375
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 4 &amp;#x2013; $0.193315 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 19 &amp;#x2013; $0.2375
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 5 &amp;#x2013; $0.243188 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 21 &amp;#x2013; $0.35 per
 share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 7 &amp;#x2013; $0.2695 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 23 &amp;#x2013; $0.303125
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 9 &amp;#x2013; $0.271938 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 25 &amp;#x2013; $0.29375
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 11 &amp;#x2013; $0.295688 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfIssuedCapitalAndEarningsPerShareExplanatory>
  <mfc:DisclosureOfMaturitiesOfLongtermDebtExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_2AD58ABC-6AB7-481E-A19A-1D0B7EEF8B79_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Aggregate maturities of long-term
 debt&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="88%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Less than one year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;400&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 One to two years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;681&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Two to three years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;626&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Greater than five years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,088&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;3,758&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;4,769&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;4,784&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfMaturitiesOfLongtermDebtExplanatory>
  <mfc:DisclosureOfChangesInSegregatedFundsNetAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_5E5B9D4F-5584-49F6-B2D1-4F3221F7BE6E_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Changes in segregated funds net
 assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="79%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net policyholder cash flow&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deposits from policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;38,236&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34,776&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net transfers to general fund&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,089&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,734&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Payments to policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(47,475&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(46,305&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(10,328&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(13,263&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Investment related&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest and dividends&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,535&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,930&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net realized and unrealized investment gains (losses)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(34,683&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;24,384&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(15,148&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;41,314&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Other&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Management and administration fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(3,985&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4,161&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18,249&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(14,790&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14,264&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(18,951&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net additions (deductions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(11,212&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9,100&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net assets, beginning of year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;324,808&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;315,708&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Segregated funds net assets, end of year&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;313,596&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;324,808&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfChangesInSegregatedFundsNetAssetsExplanatory>
  <mfc:DisclosureOfCompositionOfNetAssetsByCategoriesOfSegregatedFundsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_C179A622-D182-4BAD-9155-DD783CED389B_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The composition of net assets by categories of segregated funds was
 within the following ranges for the years ended December&amp;#xA0;31,
 2018 and 2017.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="76%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"&gt;Ranges in per cent&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;Type of fund&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Money market funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;2%&amp;#xA0;to&amp;#xA0;3%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;2% to 3%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed income funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;14%&amp;#xA0;to&amp;#xA0;15%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 14%&amp;#xA0;to&amp;#xA0;15%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balanced funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;25% to 26%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;22% to 29%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;58% to
 60%&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;55% to 60%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfCompositionOfNetAssetsByCategoriesOfSegregatedFundsExplanatory>
  <mfc:DisclosureOfComponentsOfNetBenefitCostForPensionPlansAndRetireeWelfarePlansExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_67904540-C686-4939-96A8-8FD642080CE3_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(g) Net benefit cost recognized in the
 Consolidated Statements of Income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Components of the net benefit cost for the pension plans and
 retiree welfare plans were as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="62%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center"&gt;Retiree welfare
 plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined benefit current service cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;42&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;48&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined benefit administrative expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Past service cost &amp;#x2013; plan amendments&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Past service cost &amp;#x2013; curtailments&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Service cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;66&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;53&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest on net defined benefit (asset) liability&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;18&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined benefit cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;78&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;71&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined contribution cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;78&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;75&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net benefit cost&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;156&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;146&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;17&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;6&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Past service cost &amp;#x2013; plan amendments includes $8,
 reflecting a surplus sharing agreement between the Company and
 certain legacy employees in Canada, which received regulatory
 approval in 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Past service cost &amp;#x2013; curtailments includes $22 in
 total, reflecting the cost of the voluntary exit and voluntary
 retirement programs described in section (a)&amp;#xA0;of this note.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;


 &lt;/div&gt;</mfc:DisclosureOfComponentsOfNetBenefitCostForPensionPlansAndRetireeWelfarePlansExplanatory>
  <mfc:DisclosureOfRemeasurementEffectsRecognizedInOtherComprehensiveIncomeTextBlockExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_521C5327-ADCA-467B-A50B-EC7573D0522B_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(h) &lt;font style="WHITE-SPACE: nowrap"&gt;Re-measurement&lt;/font&gt; effects recognized in
 Other Comprehensive Income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="68%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Pension plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2" nowrap="nowrap" align="center"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Retiree welfare plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Actuarial gains (losses) on defined benefit obligations due to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Experience&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Demographic assumption changes&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(35&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Economic assumption changes&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(214&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(41&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return on plan assets (excluding interest income)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(315&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;312&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(16&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;30&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Change in effect of asset limit&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total &lt;font style="WHITE-SPACE: nowrap"&gt;re-measurement&lt;/font&gt;
 effects&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(109&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;83&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;48&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfRemeasurementEffectsRecognizedInOtherComprehensiveIncomeTextBlockExplanatory>
  <mfc:DisclosureOfLifeExpectanciesUnderlyingValuesOfObligationsInDefinedBenefitPensionAndRetireeWelfarePlansExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_EA4554D5-013E-4400-A6A6-48433A673CED_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Assumptions regarding future mortality are based on published
 statistics and mortality tables. The current life expectancies
 underlying the values of the obligations in the defined benefit
 pension and retiree welfare plans are as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;U.S.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Life expectancy (in years) for those currently age 65&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Males&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;22.5&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23.6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Females&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24.0&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;25.5&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Life expectancy (in years) at age 65 for those currently age
 45&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Males&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24.1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24.6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Females&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;25.6&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;26.4&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfLifeExpectanciesUnderlyingValuesOfObligationsInDefinedBenefitPensionAndRetireeWelfarePlansExplanatory>
  <mfc:DisclosureOfDefinedBenefitObligationAndNetBenefitCostKeyAssumptionsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E9D37965-F124-45B4-BA71-BB01B8F654F1_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(i) Assumptions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The key assumptions used by the Company to determine the defined
 benefit obligation and net benefit cost for the defined benefit
 pension plans and retiree welfare plans were as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="40%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;U.S. Plans&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;Canadian Plans&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Pension plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Retiree welfare plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Pension plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Retiree welfare plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;To determine the defined benefit obligation at end of
 year&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Discount rate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4.3%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.6%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4.3%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.6%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.8%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.5%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.8%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.6%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Initial health care cost trend rate&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7.8%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8.5%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5.7%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5.9%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;To determine the defined benefit cost for the year&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Discount rate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.6%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.1%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.6%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.1%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.5%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.9%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3.6%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.0%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Initial health care cost trend rate&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;n/a
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8.5%&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;8.8%
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;n/a
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5.9%&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;6.0%
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Inflation and salary increase assumptions are not
 shown as they do not materially affect obligations and cost.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The health care cost trend rate used to measure the
 U.S. based retiree welfare obligation was 7.8% grading to 5.0% for
 2030 and years thereafter (2017 &amp;#x2013; 8.5% grading to 5.0% for
 2032) and to measure the net benefit cost was 8.5% grading to 5.0%
 for 2032 and years thereafter (2017 &amp;#x2013; 8.8% grading to 5.0%
 for 2032). In Canada, the rate used to measure the retiree welfare
 obligation was 5.7% grading to 4.8% for 2026 and years thereafter
 (2017 &amp;#x2013; 5.9% grading to 4.8% for 2026) and to measure the net
 benefit cost was 5.9% grading to 4.8% for 2026 and years thereafter
 (2017 &amp;#x2013; 6.0% grading to 4.8% for 2026).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfDefinedBenefitObligationAndNetBenefitCostKeyAssumptionsExplanatory>
  <mfc:DisclosureOfSummaryOfPensionAndRetireeWelfarePlansExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_5FAD7275-7ABA-430A-9AAA-39D3C035FCD9_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Pension and retiree welfare
 plans&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="77%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Changes in defined benefit obligation:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Opening balance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,706&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,767&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;665&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;682&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Current service cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;42&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;48&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Past service cost &amp;#x2013; amendments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Past service cost &amp;#x2013; curtailments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest cost&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;165&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;182&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;24&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Plan participants&amp;#x2019; contributions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Actuarial losses (gains) due to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Experience&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Demographic assumption changes&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;35&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Economic assumption changes&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;214&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;41&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Benefits paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(304&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(315&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(45&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(45&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;262&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(206&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;44&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(35&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Defined benefit obligation, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;4,675&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;4,706&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;640&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;665&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="77%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Pension plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;Retiree welfare plans&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Change in plan assets:&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fair value of plan assets, opening balance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;4,328&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;4,277&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;587&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;603&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;153&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;164&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;23&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Return on plan assets (excluding interest income)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(315&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;312&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(16&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;30&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Employer contributions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;79&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;85&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Plan participants&amp;#x2019; contributions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Benefits paid&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(304&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(315&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(45&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(45&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Administration costs&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;254&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(191&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;51&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(38&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Fair value of plan assets, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;4,190&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;4,328&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;610&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;587&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;br class="Apple-interchange-newline" /&gt;&lt;/div&gt;</mfc:DisclosureOfSummaryOfPensionAndRetireeWelfarePlansExplanatory>
  <mfc:DisclosureOfCarryingValueOfInvestmentContractLiabilitiesMeasuredAtFairValueExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_BC763674-76B5-4C8F-914A-4CAE7A4233D9_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The following table presents the movement in investment contract
 liabilities measured at fair value during the year.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="80%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;639&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;631&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 New policies&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;96&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;50&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in market conditions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;76&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;76&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redemptions, surrenders and maturities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(86&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(72&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;57&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;782&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;639&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfCarryingValueOfInvestmentContractLiabilitiesMeasuredAtFairValueExplanatory>
  <mfc:DisclosureOfCarryingAmountOfSecuritizedAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_CD74DCFF-FBA5-4AA0-AE8B-26B61C350EA7_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Securitized assets and secured borrowing
 liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="54%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="8%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;As at
 December&amp;#xA0;31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" nowrap="nowrap" align="center"&gt;
 Securitized assets&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 Securitization program&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Securitized&lt;br /&gt;
 mortgages&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Restricted cash and&lt;br /&gt;
 short-term securities&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Secured
 borrowing&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 HELOC securitization&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,285&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,293&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;2,250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 CMB securitization&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,525&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,525&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,524&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,810&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;$&amp;#xA0;&amp;#xA0;8&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,818&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;$&amp;#xA0;&amp;#xA0;3,774&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="12"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;As at
 December&amp;#xA0;31, 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="10" nowrap="nowrap" align="center"&gt;Securitized assets&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 Securitization program&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Securitized&lt;br /&gt;
 mortgages&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Restricted cash and&lt;br /&gt;
 short-term securities&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Secured borrowing&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 HELOC securitization&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,024&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,032&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;2,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 CMB securitization&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,480&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,480&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,523&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;3,504&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;8&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;3,512&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;3,523&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Manulife Bank, a MFC subsidiary, securitizes a portion
 of its HELOC receivables through Platinum Canadian Mortgage Trust
 (&amp;#x201C;PCMT&amp;#x201D;), and Platinum Canadian Mortgage Trust II
 (&amp;#x201C;PCMT II&amp;#x201D;). PCMT funds the purchase of the
 &lt;font style="WHITE-SPACE: nowrap"&gt;co-ownership&lt;/font&gt; interests
 from Manulife Bank by issuing term notes collateralized by an
 underlying pool of CMHC insured HELOCs to institutional investors.
 PCMT II funds the purchase of the &lt;font style="WHITE-SPACE: nowrap"&gt;co-ownership&lt;/font&gt; interests from Manulife
 Bank by issuing term notes collateralized by an underlying pool of
 uninsured HELOCs to institutional investors. The restricted cash
 balance for the HELOC securitization reflects a cash reserve fund
 established in relation to the transactions. The reserve will be
 drawn upon only in the event of insufficient cash flows from the
 underlying HELOCs to satisfy the secured borrowing liability.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Secured borrowing liabilities primarily comprise of
 Series &lt;font style="WHITE-SPACE: nowrap"&gt;2011-1&lt;/font&gt; notes with a
 floating rate which are expected to mature on December&amp;#xA0;15,
 2021, and the Series &lt;font style="WHITE-SPACE: nowrap"&gt;2016-1&lt;/font&gt; notes with a floating rate
 which are expected to mature on May&amp;#xA0;15, 2022. Manulife Bank
 also securitizes insured amortizing mortgages under the National
 Housing Act Mortgage-Backed Securities (&amp;#x201C;NHA MBS&amp;#x201D;)
 program sponsored by CMHC. Manulife Bank participates in CMB
 programs by selling NHA MBS securities to Canada Housing Trust
 (&amp;#x201C;CHT&amp;#x201D;), as a source of fixed rate funding.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfCarryingAmountOfSecuritizedAssetsExplanatory>
  <mfc:DisclosureOfInvestedAssetsAndSegregatedFundsNetAssetsMeasuredAtFairValueExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_1BF9F69C-45DF-4E9B-9FA9-71E327C7047E_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the fair values of invested assets and
 segregated funds net assets measured at fair value categorized by
 the fair value hierarchy.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="61%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total fair&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,080&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,080&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,163&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,163&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,972&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,972&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Debt securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;b&gt;FVTPL&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,159&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,979&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;180&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;107,425&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;106,641&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;784&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,344&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,344&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,417&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,417&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;b&gt;AFS&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,342&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,342&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,990&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,990&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,101&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,064&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,125&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;120&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;128&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;128&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;49&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;49&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Public equities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,721&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,718&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,458&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,456&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Real estate &amp;#x2013; investment property&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(&lt;/sup&gt;&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;1)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Other invested assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,562&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,562&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Segregated funds net assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;276,178&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;32,584&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,447&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;562,520&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;300,324&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;228,293&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;33,903&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total fair&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;439&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;439&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,429&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,429&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,097&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,097&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Debt securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;b&gt;FVTPL&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,886&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,886&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,497&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,497&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,838&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,599&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;239&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;96,785&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;96,073&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;710&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,099&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,099&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,911&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,886&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;25&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;b&gt;AFS&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,892&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,892&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,472&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,472&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,988&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,941&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,366&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,278&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;37&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;37&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;138&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;138&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;83&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;82&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Public equities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,470&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,072&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,069&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Real estate &amp;#x2013; investment property&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Other invested assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,203&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,203&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Segregated funds net assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(&lt;/sup&gt;&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;3)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;286,490&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;33,562&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,255&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;564,549&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;312,128&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;218,320&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;34,101&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;For investment properties, the significant
 unobservable inputs are capitalization rates (ranging from 2.75% to
 8.75% during the year and ranging from 3.50% to 9.00% during 2017)
 and terminal capitalization rates (ranging from 3.65% to 9.25%
 during the year and ranging from 4.0% to 9.25% during 2017).
 Holding other factors constant, a lower capitalization or terminal
 capitalization rate will tend to increase the fair value of an
 investment property. Changes in fair value based on variations in
 unobservable inputs generally cannot be extrapolated because the
 relationship between the directional changes of each input is not
 usually linear.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other invested assets measured at fair value are held
 primarily in power and infrastructure and timber sectors. The
 significant inputs used in the valuation of the Company&amp;#x2019;s
 power and infrastructure investments are primarily future
 distributable cash flows, terminal values and discount rates.
 Holding other factors constant, an increase to future distributable
 cash flows or terminal values would tend to increase the fair value
 of a power and infrastructure investment, while an increase in the
 discount rate would have the opposite effect. Discount rates during
 the year ranged from 8.95% to 16.5% (2017 &amp;#x2013; ranged from 9.20%
 to 16.5%). Disclosure of distributable cash flow and terminal value
 ranges are not meaningful given the disparity in estimates by
 project. The significant inputs used in the valuation of the
 Company&amp;#x2019;s investments in timberland are timber prices and
 discount rates. Holding other factors constant, an increase to
 timber prices would tend to increase the fair value of a timberland
 investment, while an increase in the discount rates would have the
 opposite effect. Discount rates during the year ranged from 5.0% to
 7.0% (2017 &amp;#x2013; ranged from 5.0% to 7.5%). A range of prices for
 timber is not meaningful as the market price depends on factors
 such as property location and proximity to markets and export
 yards.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Segregated funds net assets are measured at fair
 value. The Company&amp;#x2019;s Level&amp;#xA0;3 segregated funds assets are
 predominantly invested in investment properties and timberland
 properties valued as described above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfInvestedAssetsAndSegregatedFundsNetAssetsMeasuredAtFairValueExplanatory>
  <mfc:DisclosureOfDebtSecuritiesAndPrivatePlacementsPortfolioBySectorAndIndustryExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_CABF7EB9-CE47-4AA7-AD0C-536340A22194_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Debt securities and private placements portfolio by sector and
 industry.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="88%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Carrying&amp;#xA0;value&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;Carrying&amp;#xA0;value&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;%&amp;#xA0;of&amp;#xA0;total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;73,858&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;33&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;71,888&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Utilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;41,929&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40,568&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Financial&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;31,340&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;27,923&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Energy&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,685&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,428&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Industrial&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,508&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,691&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Consumer &lt;font style="WHITE-SPACE: nowrap"&gt;(non-cyclical)&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,483&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,009&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Consumer (cyclical)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,707&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,916&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Securitized&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,300&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,577&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Telecommunications&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,716&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,324&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Basic materials&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,539&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,248&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Technology&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,352&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,475&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Media and internet&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,112&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,136&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Diversified and miscellaneous&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;819&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;949&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;221,348&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;100&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;206,132&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;100&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfDebtSecuritiesAndPrivatePlacementsPortfolioBySectorAndIndustryExplanatory>
  <mfc:DisclosureOfInvestmentExpensesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_A1154B94-8FD1-49C1-ACDF-9C276C7EB101_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The following table presents the Company&amp;#x2019;s total investment
 expenses.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="83%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Related to invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;638&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;625&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Related to segregated, mutual and other funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,070&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,048&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total investment expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;1,708&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,673&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfInvestmentExpensesExplanatory>
  <mfc:DisclosureOfOtherInvestedAssetsIncludeInvestmentsInAssociatesAndJointVenturesAccountedUsingEquityMethodExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_D3E633AD-A780-4844-BC1C-96AEC9AD8A94_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Other invested assets include investments in associates and joint
 ventures which are accounted for using the equity method of
 accounting as presented in the following table.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;% of
 total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;% of total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Leveraged leases&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,575&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;51&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,273&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;56&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Timber and agriculture&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;599&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;451&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;725&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;498&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,959&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;29&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,535&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;27&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,858&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;5,757&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;100&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfOtherInvestedAssetsIncludeInvestmentsInAssociatesAndJointVenturesAccountedUsingEquityMethodExplanatory>
  <mfc:DisclosureOfEffectsOfDerivativesNotDesignatedInQualifyingHedgeAccountingRelationshipsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_17CB05B9-08A0-4A40-9317-E8F16A549689_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Investment income on derivatives not designated in qualifying hedge
 accounting relationships&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,894&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(927&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(298&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;372&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate options&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(52&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(96&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(122&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Currency rate futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(92&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(355&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,231&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;742&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,190&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(276&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;153&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit default swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,258)&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(1,024&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfEffectsOfDerivativesNotDesignatedInQualifyingHedgeAccountingRelationshipsExplanatory>
  <mfc:DisclosureOfInvestmentContractLiabilitiesMeasuredAtAmortizedCostExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_5989EF32-B2A4-49B8-9FF0-BDCD336AA6D7_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The changes in investment contract liabilities measured at
 amortized cost was a result of the following business
 activities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;2,487&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,644&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy deposits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;68&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;82&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;100&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Withdrawals&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(201&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(232&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;110&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(91&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,483&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,487&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfInvestmentContractLiabilitiesMeasuredAtAmortizedCostExplanatory>
  <mfc:DisclosureOfContractualObligationsAndCommitmentsRelatingToInvestmentContractsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_2B15E727-C551-41D7-8A7C-740870925B65_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 As at December&amp;#xA0;31, 2018, the Company&amp;#x2019;s contractual
 obligations and commitments relating to the investment contracts
 are as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="58%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Payments due by period&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Less
 than&lt;br /&gt;
 1 year&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 to 3&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;3 to 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Over 5&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment contract liabilities&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;193&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;492&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;476&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;4,312&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;5,473&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Due to the nature of the products, the timing of net
 cash flows may be before contract maturity. Cash flows are
 undiscounted.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfContractualObligationsAndCommitmentsRelatingToInvestmentContractsExplanatory>
  <mfc:DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_1917FB40-E8A6-46B3-9722-6444CF3B37C6_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(q) Premium income and related
 expenses&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Gross premiums for all types of insurance contracts, and contracts
 with limited mortality or morbidity risk, are generally recognized
 as revenue when due. Premiums are reported gross of reinsurance
 ceded (refer to note 7).&lt;/p&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory>
  <mfc:DisclosureOfEffectsOfDerivativesInNetInvestmentHedgingRelationshipsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_96AE0044-3526-49FA-812C-A76048D1B310_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The effects of net investment hedging relationships on the
 Consolidated Statements of Income and the Consolidated Statements
 of Other Comprehensive Income are shown in the following table.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="89%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 deferred&amp;#xA0;in&amp;#xA0;AOCI&lt;br /&gt;
 on derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 reclassified&amp;#xA0;from&lt;br /&gt;
 AOCI into&lt;br /&gt;
 investment&amp;#xA0;income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Ineffectiveness&lt;br /&gt;
 recognized in&lt;br /&gt;
 investment&lt;br /&gt;
 income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-functional&lt;/font&gt; currency
 denominated debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(469&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency forward&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(460&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gains (losses)&lt;br /&gt;
 deferred in AOCI&lt;br /&gt;
 on derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gains (losses)&lt;br /&gt;
 reclassified from&lt;br /&gt;
 AOCI into&lt;br /&gt;
 investment income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Ineffectiveness&lt;br /&gt;
 recognized in&lt;br /&gt;
 investment&lt;br /&gt;
 income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-functional&lt;/font&gt; currency
 denominated debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;355&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;355&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfEffectsOfDerivativesInNetInvestmentHedgingRelationshipsExplanatory>
  <mfc:DisclosureEffectsOfDerivativesInCashFlowHedgingRelationshipsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_407AA596-4F05-4520-A8F6-F8117F23C040_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The effects of derivatives in cash flow hedging relationships on
 the Consolidated Statements of Income and the Consolidated
 Statements of Comprehensive Income are shown in the following
 table.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="32%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td width="34%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Hedged items in qualifying&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 cash flow hedging&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Gains
 (losses)&lt;br /&gt;
 deferred in&lt;br /&gt;
 AOCI on&lt;br /&gt;
 derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Gains (losses)&lt;br /&gt;
 reclassified&lt;br /&gt;
 from&amp;#xA0;AOCI&amp;#xA0;into&lt;br /&gt;
 investment&lt;br /&gt;
 income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Ineffectiveness&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 recognized in&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 investment&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 income&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forecasted liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(20&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Floating rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(36&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(62&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;60&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;62&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forecasted expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Stock-based compensation&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(21&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(5&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Hedged items in qualifying&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 cash flow hedging&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Gains (losses)&lt;br /&gt;
 deferred in&lt;br /&gt;
 AOCI on&lt;br /&gt;
 derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gains (losses)&lt;br /&gt;
 reclassified&lt;br /&gt;
 from&amp;#xA0;AOCI&amp;#xA0;into&lt;br /&gt;
 investment&lt;br /&gt;
 income&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 Ineffectiveness&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 recognized in&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 investment&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 income&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forecasted liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Floating rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;95&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;50&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forecasted expenses&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 Stock-based compensation&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;20&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;29&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;163&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;58&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureEffectsOfDerivativesInCashFlowHedgingRelationshipsExplanatory>
  <mfc:DisclosureOfReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_87735E0B-C027-4075-B0AB-B22707CF0983_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Allowance for loan losses&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="45%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="10" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Private&lt;br /&gt;
 placements&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Mortgages&lt;br /&gt;
 and&amp;#xA0;loans&amp;#xA0;to&lt;br /&gt;
 Bank clients&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Private&lt;br /&gt;
 placements&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Mortgages&lt;br /&gt;
 and&amp;#xA0;loans&amp;#xA0;to&lt;br /&gt;
 Bank clients&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;39&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;46&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;85&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;92&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;118&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Provisions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;55&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;33&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Recoveries&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(36&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(13&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Write-offs&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(43&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(12&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(55&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;43&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;52&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;95&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;39&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;46&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;85&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes disposals and impact of changes in foreign
 exchange rates.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsExplanatory>
  <mfc:DisclosureOfRecognizedGainsLossesOnDerivativesAndHedgedItemsInFairValueHedgesInInvestmentIncomeExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_079B2F5E-8A6C-4DBA-BC52-FD6A91500C03_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The Company recognizes gains and losses on derivatives and the
 related hedged items in fair value hedges in investment income.
 These investment gains (losses) are shown in the following
 table.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="35%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td width="36%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Hedged items in qualifying&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 fair value hedging&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 recognized&amp;#xA0;on&lt;br /&gt;
 derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 recognized&amp;#xA0;for&lt;br /&gt;
 hedged&amp;#xA0;items&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Ineffectiveness&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 recognized in&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 investment&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 income&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(5&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;11&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Hedged items in qualifying&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 fair value hedging&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 recognized&amp;#xA0;on&lt;br /&gt;
 derivatives&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Gains&amp;#xA0;(losses)&lt;br /&gt;
 recognized&amp;#xA0;for&lt;br /&gt;
 hedged&amp;#xA0;items&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 Ineffectiveness&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 recognized in&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 investment&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;br /&gt;
 income&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;(1)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign currency swaps&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Fixed rate assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;(17&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;18&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;1&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfRecognizedGainsLossesOnDerivativesAndHedgedItemsInFairValueHedgesInInvestmentIncomeExplanatory>
  <mfc:DisclosureOfInsuranceContractsContractualObligationsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_6BE12E43-85F2-42F7-B518-6A3088FFC636_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 As at December&amp;#xA0;31, 2018, the Company&amp;#x2019;s contractual
 obligations and commitments relating to insurance contracts are as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="63%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Payments due by period&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Less&amp;#xA0;than&lt;br /&gt;
 1 year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 to 3&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;3 to 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Over 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Insurance contract liabilities&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;9,327&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;10,863&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;17,994&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;750,238&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;788,422&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Insurance contract liability cash flows include
 estimates related to the timing and payment of death and disability
 claims, policy surrenders, policy maturities, annuity payments,
 minimum guarantees on segregated fund products, policyholder
 dividends, commissions and premium taxes offset by contractual
 future premiums on &lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt; contracts. These estimated
 cash flows are based on the best estimate assumptions used in the
 determination of insurance contract liabilities. These amounts are
 undiscounted and reflect recoveries from reinsurance agreements.
 Due to the use of assumptions, actual cash flows may differ from
 these estimates. Cash flows include embedded derivatives measured
 separately at fair value.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfInsuranceContractsContractualObligationsExplanatory>
  <mfc:DisclosureOfGrossClaimsAndBenefitsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E3F21C41-1CB1-46F0-8937-1EC5615DD15C_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The following table presents a breakdown of gross claims and
 benefits.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="92%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Death, disability and other claims&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,174&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,871&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Maturity and surrender benefits&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,722&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,302&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Annuity payments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,262&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,470&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policyholder dividends and experience rating refunds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,809&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,085&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net transfers from segregated funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,089&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(1,734&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;27,878&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;24,994&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfGrossClaimsAndBenefitsExplanatory>
  <mfc:DisclosureOfFundingPolicyAndContributionsToPlansExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_9AE34C3A-C721-41BA-AB4E-412F0D489E2D_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(l) Cash flows &amp;#x2013;
 contributions&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Total cash payments for all employee future benefits, comprised of
 cash contributed by the Company to funded defined benefit pension
 and retiree welfare plans, cash payments directly to beneficiaries
 in respect of unfunded pension and retiree welfare plans, and cash
 contributed to defined contribution pension plans, are as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="86%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Pension plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Retiree welfare plans&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined benefit plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;79&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;85&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Defined contribution plans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;78&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;77&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;157&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;162
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;10&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;12
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfFundingPolicyAndContributionsToPlansExplanatory>
  <mfc:DisclosureOfCommitmentsAndContingenciesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_114BE35D-A950-42C9-A243-BBA31225F885_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 18&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;
 Commitments and Contingencies&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Legal proceedings&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company is regularly involved in legal actions, both as a
 defendant and as a plaintiff. The legal actions where the Company
 is a party ordinarily relate to its activities as a provider of
 insurance protection or wealth management products, reinsurance, or
 its capacity as an investment adviser, employer, or taxpayer. Other
 life insurers and asset managers, operating in the jurisdictions in
 which the Company does business, have been subject to a wide
 variety of other types of actions, some of which resulted in
 substantial judgments or settlements against the defendants; it is
 possible that the Company may become involved in similar actions in
 the future. In addition, government and regulatory bodies in
 Canada, the United States, Asia and other jurisdictions where the
 Company conducts business regularly make inquiries and, from time
 to time, require the production of information or conduct
 examinations concerning the Company&amp;#x2019;s compliance with, among
 other things, insurance laws, securities laws, and laws governing
 the activities of broker-dealers.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 A class action against John Hancock Life Insurance Company (U.S.A.)
 (&amp;#x201C;JHUSA&amp;#x201D;) is pending in the U.S. District Court for the
 Southern District of New York (the &amp;#x201C;Southern District of
 NY&amp;#x201D;) in which claims are made that JHUSA breached, and
 continues to breach, the contractual terms of certain universal
 life policies issued between approximately 1990 and 2006 by
 including impermissible charges in its cost of insurance
 (&amp;#x201C;COI&amp;#x201D;) calculations and certain other rider charges.
 The Company believes that its COI calculations have been, and
 continue to be, in accordance with the terms of the
 policies.&amp;#xA0;In May 2018, the parties agreed to the financial
 terms of a settlement in the amount of US$91. On November&amp;#xA0;1,
 2018, the court granted preliminary approval of the US$91
 settlement and scheduled a fairness hearing for February&amp;#xA0;19,
 2019.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In June 2018, a class action was initiated against JHUSA and John
 Hancock Life Insurance Company of New York (&amp;#x201C;JHNY&amp;#x201D;) in
 the Southern District of NY on behalf of owners of Performance
 universal life policies issued between 2003 and 2009 whose policies
 are subject to a COI increase announced in 2018. In October 2018,
 an almost identical class action was initiated against JHUSA and
 JHNY in the Southern District of NY. It was filed as a related case
 as the one filed in June and has been assigned to the same judge.
 Discovery has commenced in these cases and will continue through
 2019. No hearings on substantive matters have been scheduled. It is
 too early to assess the range of potential outcomes for these two
 related lawsuits.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Investment commitments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In the normal course of business, various investment commitments
 are outstanding which are not reflected in the Consolidated
 Financial Statements. There were $10,372 (2017 &amp;#x2013; $8,235) of
 outstanding investment commitments as at December&amp;#xA0;31, 2018, of
 which $888 (2017 &amp;#x2013; $682) mature in 30 days, $3,546 (2017
 &amp;#x2013; $2,177) mature in 31 to 365 days and $5,938 (2017 &amp;#x2013;
 $5,376) mature after one year.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Letters of credit&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In the normal course of business, third-party relationship banks
 issue letters of credit on the Company&amp;#x2019;s behalf. The
 Company&amp;#x2019;s businesses utilize letters of credit for which
 third parties are the beneficiaries, as well as for affiliate
 reinsurance transactions between its subsidiaries. As at
 December&amp;#xA0;31, 2018, letters of credit for which third parties
 are beneficiary, in the amount of $74 (2017 &amp;#x2013; $77), were
 outstanding.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Guarantees&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 3pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(i) Guarantees regarding Manulife Finance
 (Delaware), L.P. (&amp;#x201C;MFLP&amp;#x201D;)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 MFC has guaranteed the payment of amounts on the $650 subordinated
 debentures due on December&amp;#xA0;15, 2041 issued by MFLP, a
 wholly-owned unconsolidated partnership.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(ii) Guarantees regarding The
 Manufacturers Life Insurance Company&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 On January&amp;#xA0;29, 2007, MFC provided a subordinated guarantee, as
 amended and restated on January&amp;#xA0;13, 2017, of Class&amp;#xA0;A
 Shares and Class&amp;#xA0;B Shares of MLI and any other class of
 preferred shares that rank in parity with Class&amp;#xA0;A Shares or
 Class&amp;#xA0;B Shares of MLI. For the following subordinated
 debentures issued by MLI, MFC has provided a subordinated guarantee
 on the day of issuance: $500 issued on February&amp;#xA0;21, 2014; $500
 issued on December&amp;#xA0;1, 2014; $750 issued on March&amp;#xA0;10,
 2015; $350 issued on June&amp;#xA0;1, 2015; and $1,000 issued on
 November&amp;#xA0;20, 2015.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table sets forth certain condensed consolidated
 financial information for MFC and MFLP.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statements of
 Income Information&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="75%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;MLI&lt;br /&gt;
 consolidated&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;Other&lt;br /&gt;
 subsidiaries of&lt;br /&gt;
 MFC on a&lt;br /&gt;
 combined&amp;#xA0;basis&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;Total&lt;br /&gt;
 consolidated&lt;br /&gt;
 amounts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;MFLP&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;443&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;38,994&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;434&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(899)&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;38,972&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;62&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss) attributed to shareholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,076&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(419&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(4,657)&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;22&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="13"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;MLI&lt;br /&gt;
 consolidated&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Other&lt;br /&gt;
 subsidiaries of&lt;br /&gt;
 MFC on a&lt;br /&gt;
 combined&amp;#xA0;basis&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;br /&gt;
 consolidated&lt;br /&gt;
 amounts&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;MFLP&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;182&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;58,445&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;270&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(574&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;58,323&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;29&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss) attributed to shareholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,467&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(257&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(2,210&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;6&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statements of
 Financial Position&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="77%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MLI&lt;br /&gt;
 consolidated&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;br /&gt;
 subsidiaries of&lt;br /&gt;
 MFC on a&lt;br /&gt;
 combined&amp;#xA0;basis&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;br /&gt;
 consolidated&lt;br /&gt;
 amounts&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MFLP&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;353,632&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;353,664&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total other assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;54,346&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;83,523&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(54,474&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;83,398&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,059&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,265&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,265&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8,403&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;50,043&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(454&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;57,992&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;833&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="13"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MLI&lt;br /&gt;
 consolidated&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;br /&gt;
 subsidiaries of&lt;br /&gt;
 MFC on a&lt;br /&gt;
 combined&amp;#xA0;basis&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;br /&gt;
 consolidated&lt;br /&gt;
 amounts&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MFLP&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;334,191&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;334,222&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total other assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;48,688&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;71,180&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(48,868&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;71,004&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,033&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;304,605&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;304,605&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,126&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,126&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;7,696&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;48,145&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(509&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;55,332&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;831&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(iii) Guarantees regarding John Hancock
 Life Insurance Company (U.S.A.)
 (&amp;#x201C;JHUSA&amp;#x201D;)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Details of guarantees regarding certain securities issued or to be
 issued by JHUSA are outlined in note 23.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(e) Pledged assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In the normal course of business, the Company pledges its assets in
 respect of liabilities incurred, strictly for providing collateral
 to the counterparty. In the event of the Company&amp;#x2019;s default,
 the counterparty is entitled to apply the collateral to settle the
 liability. The pledged assets are returned to the Company if the
 underlying transaction is terminated or, in the case of
 derivatives, if there is a decrease in the net exposure due to
 market value changes.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The amounts pledged are as follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="60%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Debt securities&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Debt securities&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 In respect of:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,655&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;102&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,189&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Regulatory requirements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;412&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;84&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;398&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;86&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Repurchase agreements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;64&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;228&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-registered&lt;/font&gt;&amp;#xA0;retirement
 plans in trust&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;420&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;412&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;301&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;271&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,134&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;907&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,818&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;815&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(f) Lease obligations&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company has a number of operating lease obligations, primarily
 for the use of office space. The aggregate future minimum lease
 payments under&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-cancelable&lt;/font&gt;&amp;#xA0;operating
 leases are $575 (2017 &amp;#x2013; $838). Payments by year are included
 in the &amp;#x201C;Risk Management&amp;#x201D; section of the Company&amp;#x2019;s
 2018 MD&amp;amp;A under Liquidity Risk.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(g) Participating business&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In some territories where the Company maintains participating
 accounts, there are regulatory restrictions on the amounts of
 profit that can be transferred to shareholders. Where applicable,
 these restrictions generally take the form of a fixed percentage of
 policyholder dividends. For participating businesses operating as
 separate &amp;#x201C;closed blocks&amp;#x201D;, transfers are governed by the
 terms of MLI&amp;#x2019;s and John Hancock Mutual Life Insurance
 Company&amp;#x2019;s plans of demutualization.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(h) Fixed surplus notes&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 A third party contractually provides standby financing arrangements
 for the Company&amp;#x2019;s U.S. operations under which, in certain
 circumstances, funds may be provided in exchange for the issuance
 of fixed surplus notes. As at December&amp;#xA0;31, 2018, the Company
 had no fixed surplus notes outstanding.&lt;/p&gt;


 &lt;/div&gt;</mfc:DisclosureOfCommitmentsAndContingenciesExplanatory>
  <mfc:DescriptionOfAccountingPolicyForFutureAccountingAndReportingChangesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_FD3A1880-1F43-4AF3-B539-2E8DC723C5A1_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Future accounting and reporting
 changes&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(I) IFRS 9 &amp;#x201C;Financial
 Instruments&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRS 9 &amp;#x201C;Financial Instruments&amp;#x201D; was issued in November
 2009 and amended in October 2010, November 2013 and July 2014, and
 is effective for years beginning on or after January&amp;#xA0;1, 2018,
 to be applied retrospectively, or on a modified retrospective
 basis. Additionally, the IASB issued amendments in October 2017
 that are effective for annual periods beginning on or after
 January&amp;#xA0;1, 2019. The standard is intended to replace IAS 39
 &amp;#x201C;Financial Instruments: Recognition and
 Measurement&amp;#x201D;.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The project has been divided into three phases: classification and
 measurement, impairment of financial assets, and hedge accounting.
 IFRS 9&amp;#x2019;s current classification and measurement methodology
 provides that financial assets are measured at either amortized
 cost or fair value on the basis of the entity&amp;#x2019;s business
 model for managing the financial assets and the contractual cash
 flow characteristics of the financial assets. The classification
 and measurement for financial liabilities remains generally
 unchanged; however, for a financial liability designated as at fair
 value through profit or loss, revisions have been made in the
 accounting for changes in fair value attributable to changes in the
 credit risk of that liability. Gains or losses caused by changes in
 an entity&amp;#x2019;s own credit risk on such liabilities are no longer
 recognized in profit or loss but instead are reflected in OCI.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Revisions to hedge accounting were issued in November 2013 as part
 of the overall IFRS 9 project. The amendment introduces a new hedge
 accounting model, together with corresponding disclosures about
 risk management activity for those applying hedge accounting. The
 new model represents a substantial overhaul of hedge accounting
 that will enable entities to better reflect their risk management
 activities in their financial statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Revisions issued in July 2014 replace the existing incurred loss
 model used for measuring the allowance for credit losses with an
 expected loss model. Changes were also made to the existing
 classification and measurement model designed primarily to address
 specific application issues raised by early adopters of the
 standard. They also address the income statement accounting
 mismatches and short-term volatility issues which have been
 identified as a result of the insurance contracts project.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company elected to defer IFRS 9 until January&amp;#xA0;1, 2021 as
 allowed under the amendments to IFRS 4 &amp;#x201C;Insurance
 Contracts&amp;#x201D; outlined above. The Company is assessing the
 impact of this standard.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(II) IFRS 16
 &amp;#x201C;Leases&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRS 16 &amp;#x201C;Leases&amp;#x201D; was issued in January 2016 and is
 effective for years beginning on or after January&amp;#xA0;1, 2019. It
 will replace IAS 17 &amp;#x201C;Leases&amp;#x201D; and IFRIC 4
 &amp;#x201C;Determining whether an arrangement contains a lease&amp;#x201D;.
 The Company will adopt IFRS 16 effective January&amp;#xA0;1,&amp;#xA0;2019,
 on a modified retrospective basis with no restatement of
 comparative information.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRS 16 sets out the principles for the recognition, measurement,
 presentation and disclosure of leases for both parties to a
 contract. The standard brings most
 leases&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;on-balance&lt;/font&gt;&amp;#xA0;sheet for
 lessees under a single model, eliminating the previous
 classifications of operating and finance leases. Exemptions to this
 treatment are for lease contracts with low value assets or leases
 with duration of less than one year.
 The&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;on-balance&lt;/font&gt;&amp;#xA0;sheet
 treatment will result in a grossing up of the balance sheet due
 to&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;right-of-use&lt;/font&gt;&lt;/font&gt;&amp;#xA0;assets
 being recognized with offsetting liabilities. Lessor accounting
 will remain largely unchanged with previous classifications of
 operating and finance leases being maintained.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Adoption of IFRS 16 is not expected to have a significant impact on
 the Company&amp;#x2019;s Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(III) IFRS Interpretation Committee
 (&amp;#x201C;IFRIC&amp;#x201D;) Interpretation 23 &amp;#x201C;Uncertainty over
 Income Tax Treatments&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRIC 23 &amp;#x201C;Uncertainty over Income Tax Treatments&amp;#x201D; was
 issued in June 2017 and is effective for years beginning on or
 after January&amp;#xA0;1,&amp;#xA0;2019, to be applied retrospectively.
 IFRIC 23 provides guidance on applying the recognition and
 measurement requirements in IAS 12 when there is uncertainty over
 income tax treatments including whether uncertain tax treatments
 should be considered together or separately based on which approach
 better predicts resolution of the uncertainty. Adoption of IFRIC 23
 is not expected to have a significant impact on the Company&amp;#x2019;s
 Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(IV) Amendments to IAS 28
 &amp;#x201C;Investments in Associates and Joint
 Ventures&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Amendments to IAS 28 &amp;#x201C;Investments in Associates and Joint
 Ventures&amp;#x201D; were issued in October 2017 and are effective for
 annual periods beginning on or after January&amp;#xA0;1, 2019, to be
 applied retrospectively. The amendments clarify that an entity
 applies IFRS 9 &amp;#x201C;Financial Instruments&amp;#x201D; to financial
 interests in an associate or joint venture to which the equity
 method is not applied. IAS 39 will be applied to these interests
 until IFRS 9 is adopted. Adoption of these amendments is not
 expected to have a significant impact on the Company&amp;#x2019;s
 Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(V) Annual Improvements 2015&amp;#x2013;2017
 Cycle&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Annual Improvements 2015 &amp;#x2013; 2017 Cycle was issued in December
 2017 and is effective for years beginning on or after
 January&amp;#xA0;1,&amp;#xA0;2019. The IASB issued three minor amendments
 to different standards as part of the Annual Improvements process,
 with the amendments to be applied prospectively. Adoption of these
 amendments is not expected to have significant impact on the
 Company&amp;#x2019;s Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(VI) Amendments to IAS 19 &amp;#x201C;Employee
 Benefits&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Amendments to IAS 19 &amp;#x201C;Employee Benefits&amp;#x201D; were issued in
 February 2018 and are effective for annual periods beginning on or
 after January&amp;#xA0;1, 2019, with earlier application permitted. The
 amendments address the accounting for a plan amendment, curtailment
 or settlement that occurs within a reporting period. Updated
 actuarial assumptions must be used to determine current service
 cost and net interest for the remainder of the reporting period
 after such an event.&amp;#xA0;The amendments also address how the
 accounting for asset ceilings are affected by such an
 event.&amp;#xA0;Adoption of these amendments is not expected to have a
 significant impact on the Company&amp;#x2019;s Consolidated Financial
 Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(VII) Amendments to IFRS 3 &amp;#x201C;Business
 Combinations&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Amendments to IFRS 3 &amp;#x201C;Business Combinations&amp;#x201D; were
 issued in October 2018 and are effective for business combinations
 occurring on or after January&amp;#xA0;1, 2020, with earlier
 application permitted. The amendments revise the definition of a
 business and provide a simplified assessment of whether an acquired
 set of activities and assets qualifies as a business. Application
 of the amendments are expected to result in fewer acquisitions
 qualifying as business combinations. Adoption of these amendments
 is not expected to have a significant impact on the Company&amp;#x2019;s
 Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(VIII) Amendments to IAS 1
 &amp;#x201C;Presentation of Financial Statements&amp;#x201D; and IAS 8
 &amp;#x201C;Accounting Policies, Changes in Accounting Estimates and
 Errors&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Amendments to IAS 1 &amp;#x201C;Presentation of Financial
 Statements&amp;#x201D; and IAS 8 &amp;#x201C;Accounting Policies, Changes in
 Accounting Estimates and Errors&amp;#x201D; were issued in October 2018.
 The amendments are effective for annual periods beginning on or
 after January&amp;#xA0;1, 2020 and are to be applied prospectively. The
 amendments update the definition of material. Adoption of these
 amendments is not expected to have a significant impact on the
 Company&amp;#x2019;s Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(IX) IFRS 17 &amp;#x201C;Insurance
 Contracts&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRS 17 was issued in May 2017 and is effective for years beginning
 on January&amp;#xA0;1, 2021, to be applied retrospectively. If full
 retrospective application to a group of contracts is impractical,
 the modified retrospective or fair value methods may be used. The
 standard will replace IFRS 4 &amp;#x201C;Insurance Contracts&amp;#x201D; and
 will materially change the recognition and measurement of insurance
 contracts and the corresponding presentation and disclosures in the
 Company&amp;#x2019;s Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In November 2018, the IASB tentatively decided to defer the
 effective date of IFRS 17 by one year. The proposed deferral is
 subject to IASB public consultation in 2019 which is expected to
 result in an exposure draft followed by a public comment period.
 The Company will continue to monitor IASB&amp;#x2019;s future
 developments related to IFRS 17.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 IFRS 17 requires entities to measure insurance contract liabilities
 on the balance sheet as the total of (a)&amp;#xA0;the fulfillment cash
 flows &amp;#x2013; the current estimates of amounts that the Company
 expects to collect from premiums and pay out for claims, benefits
 and expenses, including an adjustment for the timing and risk for
 those amounts; and (b)&amp;#xA0;the contractual service margin &amp;#x2013;
 the future profit for providing insurance coverage.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The principles underlying IFRS 17 differ from the CALM as permitted
 by IFRS&amp;#xA0;4.&amp;#xA0;While there are many differences, the
 following outlines two of the key differences:&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Under IFRS 17 the discount rate used to estimate the
 present value of insurance liabilities is based on the
 characteristics of the liability, whereas under CALM, the Company
 uses the rates of returns for current and projected assets
 supporting policy liabilities to value the liabilities. The
 difference in the discount rate approach also impacts the timing of
 investment-related experience earnings emergence. Under CALM,
 investment-related experience includes investment experience and
 the impact of investing activities. The impact of investing
 activities is directly related to the CALM methodology. Under IFRS
 17 the impact of investing activities will emerge over the life of
 the new asset.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Under IFRS 17 new business gains are recorded on the
 Consolidated Statements of Financial Position and amortized into
 income as services are provided.&amp;#xA0;Under CALM new business gains
 (and losses) are recognized in income immediately.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company is assessing the implications of this standard and
 expects that it will have a significant impact on the
 Company&amp;#x2019;s Consolidated Financial Statements. In addition, in
 certain jurisdictions, including Canada, it could have a material
 effect on tax and regulatory capital positions and other financial
 metrics that are dependent upon IFRS accounting values.&lt;/p&gt;


 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForFutureAccountingAndReportingChangesExplanatory>
  <mfc:DisclosureOfInvestmentContractLiabilitiesMeasuredAtAmortizedCostAndFairValueAssociatedWithTheseContractsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_F697FD36-3833-4E2C-841D-6E717CF04C74_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Carrying value and fair value of investment contract liabilities
 measured at amortized cost.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="86%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Amortized&lt;br /&gt;
 cost, gross of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Amortized&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;cost, gross of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S. fixed annuity products&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,357&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,449&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,282&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,433&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canadian fixed annuity products&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,126&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,269&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,205&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,354&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Investment contract liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,483&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,718&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,487&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,787&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;During the year, investment contract labilities with
 the carrying value and fair value of $128 and $130, respectively
 (2017 &amp;#x2013; $nil and $nil, respectively), were reinsured by the
 Company. As at December&amp;#xA0;31, 2018, the net carrying value and
 fair value of investment contracts labilities were $2,355 and
 $2,588, respectively.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfInvestmentContractLiabilitiesMeasuredAtAmortizedCostAndFairValueAssociatedWithTheseContractsExplanatory>
  <mfc:DisclosureOfCompositionOfInsuranceContractLiabilitiesAndReinsuranceAssetsByLineOfBusinessAndReportingSegmentExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_520D6483-DB06-43E3-974B-74E1C8D8BC0F_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The composition of insurance contract liabilities and reinsurance
 assets by the line of business and reporting segment is as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Gross insurance contract
 liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="43%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;Individual
 insurance&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Participating&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;participating&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Annuities&lt;br /&gt;
 and&lt;br /&gt;
 pensions&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Other&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total,
 net of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Total&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total,&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;gross of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asia&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;38,470&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;29,547&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,062&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,048&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;76,127&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,332&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;77,459&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,743&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;34,677&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;18,339&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,869&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;76,628&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(202&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;76,426&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,673&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;63,412&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,125&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;44,932&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;133,142&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;41,695&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;174,837&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(601&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;46&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;387&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(168&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(68&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, net of reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;57,886&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;127,035&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;39,572&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;61,236&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;285,729&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;42,925&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11,596&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,303&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17,927&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,099&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;42,925&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, gross of reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;69,482&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;139,338&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;57,499&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;62,335&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" height="16" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#FFFFFF" valign="bottom" colspan="6" align="center"&gt;Individual
 insurance&lt;/td&gt;
 &lt;td bgcolor="#FFFFFF" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Participating&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;participating&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Annuities&lt;br /&gt;
 and&lt;br /&gt;
 pensions&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total, net of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total,&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;gross of&lt;br /&gt;
 reinsurance&lt;br /&gt;
 ceded&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asia&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,737&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22,705&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,366&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,435&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;62,243&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;911&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;63,154&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34,091&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,141&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,834&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;76,198&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(676&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;75,522&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 U.S.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,569&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;57,599&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26,161&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;43,522&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;135,851&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;29,952&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;165,803&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate and Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(515&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;48&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;421&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(46&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;172&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;126&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, net of reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;52,438&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;113,880&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;49,716&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;58,212&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;274,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;30,359&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;304,605&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;11,492&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;11,238&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;6,539&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,090&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;30,359&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, gross of reinsurance ceded&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;63,930&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;125,118&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;56,255&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;59,302&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;304,605&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other insurance contract liabilities include group
 insurance and individual and group health including long-term care
 insurance.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfCompositionOfInsuranceContractLiabilitiesAndReinsuranceAssetsByLineOfBusinessAndReportingSegmentExplanatory>
  <mfc:DescriptionOfAccountingPolicyForReportingEntityExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_C811E4B6-C9F8-48A5-ACF3-AFDADB1F1DC9_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Reporting entity&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Manulife Financial Corporation (&amp;#x201C;MFC&amp;#x201D;) is a publicly
 traded company and the holding company of The Manufacturers Life
 Insurance Company (&amp;#x201C;MLI&amp;#x201D;), a Canadian life insurance
 company. MFC and its subsidiaries (collectively,
 &amp;#x201C;Manulife&amp;#x201D; or the &amp;#x201C;Company&amp;#x201D;) is a leading
 financial services group with principal operations in Asia, Canada
 and the United States. Manulife&amp;#x2019;s international network of
 employees, agents and distribution partners offers financial
 protection and wealth management products and services to personal
 and business clients as well as asset management services to
 institutional customers. The Company operates as Manulife in Canada
 and Asia and as John Hancock in the United States.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 MFC is domiciled in Canada and incorporated under the Insurance
 Companies Act (Canada) (&amp;#x201C;ICA&amp;#x201D;). These Consolidated
 Financial Statements have been prepared in accordance with
 International Financial Reporting Standards (&amp;#x201C;IFRS&amp;#x201D;) as
 issued by the International Accounting Standards Board
 (&amp;#x201C;IASB&amp;#x201D;).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 These Consolidated Financial Statements should be read in
 conjunction with &amp;#x201C;Risk Management&amp;#x201D; in the 2018
 Management&amp;#x2019;s Discussion and Analysis (&amp;#x201C;MD&amp;amp;A&amp;#x201D;)
 dealing with IFRS 7 &amp;#x201C;Financial Instruments:
 Disclosures&amp;#x201D; as the discussion on market risk and liquidity
 risk includes certain disclosures that are considered an integral
 part of these Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 These Consolidated Financial Statements as at and for the year
 ended December&amp;#xA0;31, 2018 were authorized for issue by
 MFC&amp;#x2019;s Board of Directors on February&amp;#xA0;13, 2019.&lt;/p&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForReportingEntityExplanatory>
  <mfc:DescriptionOfAccountingPolicyForChangeInAccountingPolicyExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_1F25D2D6-0FA0-4804-A2BA-1D3A48DFA635_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Changes in accounting
 policy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(I) IFRS 15 &amp;#x201C;Revenue from Contracts
 with Customers&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company adopted IFRS 15
 &amp;#x201C;Revenue from Contracts with Customers&amp;#x201D; which was
 issued In May 2014, and replaces IAS 11 &amp;#x201C;Construction
 Contracts,&amp;#x201D; IAS 18 &amp;#x201C;Revenue&amp;#x201D; and several
 interpretations. Amendments to IFRS 15 were issued in April 2016.
 IFRS 15 clarifies revenue recognition principles, provides a robust
 framework for recognizing revenue and cash flows arising from
 contracts with customers and enhances qualitative and quantitative
 disclosure requirements. IFRS 15 does not apply to insurance
 contracts, financial instruments and lease contracts. The Company
 adopted IFRS 15 using the modified retrospective method with no
 restatement of comparative information.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s service arrangements are generally satisfied
 over time, with revenue measured and collected from customers
 within a short term, as services are rendered.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Adoption of IFRS 15 did not have a significant impact or result in
 transitional adjustments on the Company&amp;#x2019;s Consolidated
 Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(II) IFRS 9 &amp;#x201C;Financial
 Instruments&amp;#x201D; and Amendments to IFRS 4 &amp;#x201C;Insurance
 Contracts&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company adopted the amendments
 to IFRS 4 &amp;#x201C;Insurance Contracts&amp;#x201D; issued in September
 2016. IFRS 9 &amp;#x201C;Financial Instruments&amp;#x201D; replaced IAS 39
 &amp;#x201C;Financial Instruments: Recognition and Measurement&amp;#x201D;
 and resulted in revisions to classification and measurement,
 impairment of financial assets, and hedge accounting.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 To address concerns about differing effective dates of IFRS 9
 &amp;#x201C;Financial Instruments&amp;#x201D; which is effective on
 January&amp;#xA0;1, 2018 and IFRS 17 &amp;#x201C;Insurance Contracts&amp;#x201D;
 which is effective on January&amp;#xA0;1, 2021, amendments to IFRS 4
 &amp;#x201C;Insurance Contracts&amp;#x201D; provides companies whose
 activities are predominantly related to insurance an optional
 temporary exemption from applying IFRS 9 until January&amp;#xA0;1,
 2021. Adoption of these amendments enabled the Company to defer the
 adoption of IFRS 9 and continue to apply IAS 39 until
 January&amp;#xA0;1,&amp;#xA0;2021.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In November 2018, the IASB tentatively decided to defer the fixed
 expiry date for the temporary exemption in IFRS 4 from applying
 IFRS 9 by one year for companies whose activities are predominantly
 related to insurance. MFC&amp;#x2019;s activities are predominantly
 related to insurance. The proposed deferral is subject to IASB
 public consultation in 2019 which is expected to result in an
 exposure draft followed by a public comment period. The Company
 will continue to monitor IASB&amp;#x2019;s future developments related
 to the deferral.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In order to compare with entities applying IFRS 9, the amendments
 to IFRS 4 require deferring entities to disclose additional
 information regarding the contractual cashflows characteristics and
 credit exposure of their financial statements. Deferring entities
 must disclose which financial assets have contractual terms that
 are solely payments of principal and interest on principal
 outstanding (&amp;#x201C;SPPI&amp;#x201D;). Adoption of these disclosure
 requirements did not have a significant impact on the
 Company&amp;#x2019;s Consolidated Financial Statements. Refer to
 note&amp;#xA0;3(a).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(III) Amendments to IFRS 2
 &amp;#x201C;Share-Based Payment&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company adopted amendments to
 IFRS 2 &amp;#x201C;Share-Based Payment&amp;#x201D;, issued in June 2016.
 These amendments were applied prospectively. The amendments clarify
 the effects of vesting and&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-vesting&lt;/font&gt;&amp;#xA0;conditions
 on the measurement of cash-settled share-based payments; provide
 guidance on the classification of share-based payment transactions
 with net settlement features for withholding tax obligations; and
 clarify accounting for modification to the terms and conditions of
 a share-based payment that changes the classification of the
 transaction from cash-settled to equity-settled. Adoption of these
 amendments did not have a significant impact on the Company&amp;#x2019;s
 Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(IV) IFRIC 22 &amp;#x201C;Foreign Currency
 Transactions and Advance Consideration&amp;#x201D;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company adopted IFRIC 22
 &amp;#x201C;Foreign Currency Transactions and Advance
 Consideration&amp;#x201D;, issued in December 2016. IFRIC 22 was applied
 prospectively. IFRIC 22 addresses which foreign exchange rate to
 use to measure a foreign currency transaction when advance payments
 are made or received and&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-monetary&lt;/font&gt;&amp;#xA0;assets
 or liabilities are recognized prior to recognition of the
 underlying transaction. IFRIC 22 does not relate to goods or
 services accounted for at fair value or at the fair value of
 consideration paid or received at a date other than the date of
 initial recognition of the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-monetary&lt;/font&gt;&amp;#xA0;asset
 or liability, or to income taxes, insurance contracts or
 reinsurance contracts. The foreign exchange rate on the day of the
 advance payment is used to measure the foreign currency
 transaction. If multiple advance payments are made or received,
 each payment is measured separately. Adoption of IFRIC 22 did not
 have a significant impact on the Company&amp;#x2019;s Consolidated
 Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(V) Annual improvements to IFRS Standards
 2014-2016 Cycle&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Effective January&amp;#xA0;1, 2018, the Company adopted amendments
 issued within the Annual Improvements to IFRS Standards 2014-2016
 Cycle, as issued by the IASB in December 2016. Minor amendments as
 part of this cycle were effective in 2017 and were adopted by the
 Company in that year, with remaining amendments being effective
 January&amp;#xA0;1, 2018. The amendments were applied retrospectively.
 Adoption of these amendments did not have a significant impact on
 the Company&amp;#x2019;s Consolidated Financial Statements.&lt;/p&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForChangeInAccountingPolicyExplanatory>
  <mfc:DescriptionOfAccountingPolicyForInvestedAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_2178B1B6-3B95-4A3C-8404-E86690E56B44_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(e) Invested assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Invested assets that are considered financial instruments are
 classified as fair value through profit or loss
 (&amp;#x201C;FVTPL&amp;#x201D;), loans and receivables, or
 as&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;available-for-sale&lt;/font&gt;&lt;/font&gt;&amp;#xA0;(&amp;#x201C;AFS&amp;#x201D;)
 financial assets. The Company determines the classification of its
 financial assets at initial recognition. Invested assets are
 recognized initially at fair value plus, in the case of investments
 not at FVTPL, directly attributable transaction costs. Invested
 assets are classified as financial instruments at FVTPL if they are
 held for trading, if they are designated by management under the
 fair value option, or if they are designated by management when
 they include one or more embedded derivatives. Invested assets
 classified as AFS are&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-derivative&lt;/font&gt;&amp;#xA0;financial
 assets that do not fall into any of the other categories described
 above.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Valuation methods for the Company&amp;#x2019;s invested assets are
 described above. All fair value valuations are performed in
 accordance with IFRS 13 &amp;#x201C;Fair Value Measurement&amp;#x201D;.
 Disclosure of financial instruments carried at fair value with the
 three levels of the fair value hierarchy and the disclosure of the
 fair value for financial instruments not carried at fair value on
 the Consolidated Statements of Financial Position are presented in
 note 3. Fair value valuations are performed by the Company and by
 third-party service providers. When third-party service providers
 are engaged, the Company performs a variety of procedures to
 corroborate pricing information. These procedures may include, but
 are not limited to, inquiry and review of valuation techniques,
 inputs to the valuation and vendor controls reports.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Cash and short-term securities comprise of cash, current operating
 accounts, overnight bank and term deposits, and fixed income
 securities held for meeting short-term cash commitments. Short-term
 securities are carried at fair value. Short-term securities are
 comprised of investments due to mature within one year of the date
 of purchase. Commercial paper and discount notes are classified as
 Level&amp;#xA0;2 because these securities are typically not actively
 traded. Net payments in transit and overdraft bank balances are
 included in other liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Debt securities are carried at fair value. Debt securities are
 generally valued by independent pricing vendors using proprietary
 pricing models incorporating current market inputs for similar
 instruments with comparable terms and credit quality (matrix
 pricing). The significant inputs include, but are not limited to,
 yield curves, credit risks and spreads, measures of volatility and
 prepayment rates. These debt securities are classified as
 Level&amp;#xA0;2 but can be Level&amp;#xA0;3 if significant inputs are
 market unobservable. Realized gains and losses on sale of debt
 securities and unrealized gains and losses on debt securities
 designated as FVTPL are recognized in investment income
 immediately. Unrealized gains and losses on AFS debt securities are
 recorded in OCI, except for unrealized gains and losses on foreign
 currency translation which are included in income. Impairment
 losses on AFS debt securities are recognized in income on an
 individual security basis when there is objective evidence of
 impairment. Impairment is considered to have occurred, based on
 management&amp;#x2019;s judgment, when it is deemed probable that the
 Company will not be able to collect all amounts due according to
 the debt security&amp;#x2019;s contractual terms.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Equities are comprised of common and preferred equities and are
 carried at fair value. Equities are generally classified as
 Level&amp;#xA0;1, as fair values are normally based on quoted market
 prices. Realized gains and losses on sale of equities and
 unrealized gains and losses on equities designated as FVTPL are
 recognized in investment income immediately. Unrealized gains and
 losses on AFS equities are recorded in OCI. Impairment losses on
 AFS equities are recognized in income on an individual security
 basis when there is objective evidence of impairment. Impairment is
 considered to have occurred when fair value has declined below cost
 by a significant amount or for a prolonged period of time. Judgment
 is applied in determining whether the decline is significant or
 prolonged.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Mortgages are carried at amortized cost and are classified as
 Level&amp;#xA0;3 for fair value purposes due to the lack of market
 observability of certain significant valuation inputs. Realized
 gains and losses are recorded in investment income immediately.
 Impairment losses are recorded on mortgages when there is no longer
 reasonable assurance as to the timely collection of the full amount
 of principal and interest and are measured based on the discounted
 value of expected future cash flows at the original effective
 interest rates inherent in the mortgage. Expected future cash flows
 of impaired mortgages are typically determined with reference to
 the fair value of collateral security underlying the mortgage, net
 of expected costs of realization and any applicable insurance
 recoveries. Significant judgment is applied in the determination of
 impairment including the timing and amount of future
 collections.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company accounts for insured and uninsured mortgage
 securitizations as secured financing transactions since the
 criteria for sale accounting are not met. For these transactions,
 the Company continues to recognize the mortgages and records a
 liability in other liabilities for the amounts owed at maturity.
 Interest income from these mortgages and interest expense on the
 borrowings are recorded using the effective interest rate
 method.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Private placements, which include corporate loans for which there
 is no active market, are carried at amortized cost and are
 generally classified as Level&amp;#xA0;2 for fair value disclosure
 purposes or as Level&amp;#xA0;3 if significant inputs are market
 unobservable. Realized gains and losses are recorded in income
 immediately. Impairment losses are recorded on private placements
 when there is no longer assurance as to the timely collection of
 the full amount of principal and interest. Impairment is measured
 based on the discounted value of expected future cash flows at the
 original effective interest rate inherent in the loan. Significant
 judgment is applied in the determination of impairment including
 the timing and amount of future collections.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Policy loans are carried at an amount equal to their unpaid
 balances and are classified as Level&amp;#xA0;2 for fair value
 disclosure purposes. Policy loans are fully collateralized by the
 cash surrender value of the underlying policies.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Loans to Manulife Bank of Canada (&amp;#x201C;Manulife Bank&amp;#x201D; or
 &amp;#x201C;Bank&amp;#x201D;) clients are carried at amortized cost, and are
 classified as Level&amp;#xA0;2 for fair value disclosure purposes. A
 loan to a Bank client is considered impaired when there is
 objective evidence of impairment because of one or more loss events
 that have occurred after initial recognition, with a negative
 impact on the estimated future cash flows of the loan.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Once established, allowances for impairment of mortgages, private
 placements and loans to Bank clients are reversed only if the
 conditions that caused the impairment no longer exist. Reversals of
 impairment charges on AFS debt securities are only recognized in
 income to the extent that increases in fair value can be attributed
 to events after the impairment loss being recorded. Impairment
 losses for AFS equity instruments are not reversed through income.
 On disposition of an impaired asset, any allowance for impairment
 is released.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In addition to impairments and provisions for loan losses
 (recoveries) reported in investment income, the measurement of
 insurance contract liabilities, via investment return assumptions,
 includes expected future credit losses on fixed income investments.
 Refer to note 7(d).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Interest income is recognized on debt securities, mortgages,
 private placements, policy loans and loans to Bank clients as it
 accrues and is calculated using the effective interest rate method.
 Premiums, discounts and transaction costs are amortized over the
 life of the underlying investment using the effective yield method
 for all debt securities as well as mortgages and private placements
 measured at amortized cost.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company records purchases and sales of invested assets on a
 trade date basis, except for loans originated by the Company, which
 are recognized on a settlement date basis.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Real estate consists of both own use and investment property. Own
 use property is carried at cost less accumulated depreciation and
 any accumulated impairment losses. Depreciation is calculated based
 on the cost of an asset less its residual value and is recognized
 in income on a straight-line basis over the estimated useful life
 ranging from 30 to 60 years. Impairment losses are recorded in
 income to the extent the recoverable amount is less than the
 carrying amount. Where own use property is included in assets
 backing insurance contract liabilities, the fair value of the
 property is used in the valuation of insurance contract
 liabilities. Own use property is classified as Level&amp;#xA0;3 for
 fair value disclosure purposes.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 An investment property is a property held to earn rental income,
 for capital appreciation, or both. Investment properties are
 measured at fair value, with changes in fair value recognized in
 income. Fair value is determined using external appraisals that are
 based on the highest and best use of the property. The valuation
 techniques used include discounted cash flows, the direct
 capitalization method as well as comparable sales analysis and
 include both observable and unobservable inputs. Inputs include
 existing and assumed tenancies, market data from recent comparable
 transactions, future economic outlook and market risk assumptions,
 capitalization rates and internal rates of return. Investment
 properties are classified as Level&amp;#xA0;3 for fair value disclosure
 purposes.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 When a property changes from own use to investment property, any
 gain arising on the remeasurement of the property to fair value at
 the date of transfer is recognized in OCI, to the extent that it is
 not reversing a previous impairment loss. Reversals of impairment
 losses are recognized in income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Other invested assets include private equity and property
 investments held in power and infrastructure and timber, as well as
 in agriculture and oil and gas sectors. Private equity investments
 are accounted for as associates using the equity method (as
 described in note 1(d) above) or are classified as FVTPL or AFS and
 carried at fair value. Investments in oil and gas exploration and
 evaluation activities are measured on the cost basis using the
 &amp;#x201C;successful efforts&amp;#x201D; method. Timber and agriculture
 properties are measured at fair value with changes in fair value
 recognized in income, except for buildings, equipment and bearer
 plants which are measured at amortized cost. The fair value of
 other invested assets is determined using a variety of valuation
 techniques as described in note 3. Other invested assets that are
 measured or disclosed at fair value are classified as
 Level&amp;#xA0;3.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Other invested assets also include investments in leveraged leases,
 which are accounted for using the equity method. The carrying value
 under the equity method reflects the amortized cost of the lease
 receivable and related&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-recourse&lt;/font&gt;&amp;#xA0;debt
 using the effective yield method.&lt;/p&gt;


 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForInvestedAssetsExplanatory>
  <mfc:DescriptionOfAccountingPolicyForMiscellaneousAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_DC26DA17-F014-43F3-9DF3-0CB41DD47FC4_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(g) Miscellaneous assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Miscellaneous assets include assets held in a rabbi trust with
 respect to unfunded defined benefit obligations, defined benefit
 assets, if any (refer to note 1(o)), deferred acquisition costs and
 capital assets. Deferred acquisition costs are carried at cost less
 accumulated amortization. These costs are recognized over the
 period where redemption fees may be charged or over the period
 revenue is earned. Capital assets are carried at cost less
 accumulated amortization computed on a straight-line basis over
 their estimated useful lives, which vary from two to 10 years.&lt;/p&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForMiscellaneousAssetsExplanatory>
  <mfc:DescriptionOfAccountingPolicyForSegregatedFundsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_0260F3E9-2084-4DF3-BE7E-2F9312AC01B7_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(h) Segregated funds&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company manages several segregated funds on behalf of
 policyholders. The investment returns on these funds are passed
 directly to policyholders. In some cases, the Company has provided
 guarantees associated with these funds.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Segregated funds net assets are measured at fair value and
 primarily include investments in mutual funds, debt securities,
 equities, cash, short-term investments and other investments. With
 respect to the consolidation requirement of IFRS, in assessing the
 Company&amp;#x2019;s degree of control over the underlying investments,
 the Company considers the scope of its decision-making rights, the
 rights held by other parties, its remuneration as an investment
 manager and its exposure to variability of returns. The Company has
 determined that it does not have control over the underlying
 investments as it acts as an agent on behalf of segregated fund
 policyholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The methodology applied to determine the fair value of investments
 held in segregated funds is consistent with that applied to
 invested assets held by the general fund, as described above in
 note 1(e). Segregated funds liabilities are measured based on the
 value of the segregated funds net assets. Investment returns on
 segregated funds assets belong to policyholders and the Company
 does not bear the risk associated with these assets outside of
 guarantees offered on certain variable life and annuity products,
 for which the underlying investments are held within segregated
 funds. Accordingly, investment income earned by segregated funds
 and expenses incurred by segregated funds are offset and are not
 separately presented in the Consolidated Statements of Income. Fee
 income earned by the Company for managing the segregated funds is
 included in other revenue.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Liabilities related to guarantees associated with certain
 segregated funds, as a result of certain variable life and annuity
 contracts, are recorded within the Company&amp;#x2019;s insurance
 contract liabilities. The Company holds assets supporting these
 guarantees which are recognized in invested assets according to
 their investment type.&lt;/p&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForSegregatedFundsExplanatory>
  <mfc:DescriptionOfAccountingPolicyForBasisOfPreparationExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_6C2D1185-7774-41E3-B01C-E0ECB1BF4E93_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Basis of preparation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The preparation of Consolidated Financial Statements in conformity
 with IFRS requires management to make judgments, estimates and
 assumptions that affect the application of accounting policies and
 the reported amounts of assets and liabilities, and the disclosure
 of contingent assets and liabilities as at the date of the
 Consolidated Financial Statements, and the reported amounts of
 revenue and expenses during the reporting periods. Actual results
 may differ from these estimates. The most significant estimation
 processes relate to assumptions used in measuring insurance and
 investment contract liabilities, assessing assets for impairment,
 determining of pension and other post-employment benefit obligation
 and expense assumptions, determining income taxes and uncertain tax
 positions and fair valuation of certain invested assets. Estimates
 and underlying assumptions are reviewed on an ongoing basis.
 Revisions to accounting estimates are recognized in the year in
 which the estimates are revised and in any future years affected.
 Although some variability is inherent in these estimates,
 management believes that the amounts recorded are appropriate. The
 significant accounting policies used and the most significant
 judgments made by management in applying these accounting policies
 in the preparation of these Consolidated Financial Statements are
 summarized below.&lt;/p&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForBasisOfPreparationExplanatory>
  <mfc:DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_3E3C4F97-9DA5-40C6-B2D5-A039EB0A9808_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The components of gross and net insurance contract liabilities are
 shown below.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 4pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="79%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,737&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;291,767&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross benefits payable and provision for unreported claims&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,398&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,376&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross policyholder amounts on deposit&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,519&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;9,462&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;304,605&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reinsurance assets&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(42,925&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(30,359&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net insurance contract liabilities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;285,729&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;274,246&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsExplanatory>
  <mfc:DescriptionOfAccountingPolicyForInterestRateAndSpreadRiskSensitivitiesAndExposureMeasuresExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_4B726E90-E144-400A-8A4F-F8817E731364_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Interest Rate and Spread Risk
 Sensitivities and Exposure Measures&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 At December&amp;#xA0;31, 2018, we estimated the sensitivity of our net
 income attributed to shareholders to a 50 basis point parallel
 decline in interest rates to be a charge of $100&amp;#xA0;million, and
 to a 50 basis point increase in interest rates to be a benefit of
 $100&amp;#xA0;million.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The table below shows the potential impact on net income attributed
 to shareholders from a 50 basis point parallel move in interest
 rates. This includes a change of 50 basis points in current
 government, swap and corporate rates for all maturities across all
 markets with no change in credit spreads between government, swap
 and corporate rates, and with a floor of zero on government rates
 where government rates are not currently negative, relative to the
 rates assumed in the valuation of policy liabilities, including
 embedded derivatives. For variable annuity guarantee liabilities
 that are dynamically hedged, it is assumed that interest rate
 hedges are rebalanced at 20 basis point intervals.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 As the sensitivity to a 50 basis point change in interest rates
 includes any associated change in the applicable reinvestment
 scenarios, the impact of changes to interest rates for less than,
 or more than 50 basis points is unlikely to be linear. Furthermore,
 our sensitivities are not consistent across all regions in which we
 operate, and the impact of yield curve changes will vary depending
 upon the geography where the change occurs. Reinvestment
 assumptions used in the valuation of policy liabilities tend to
 amplify the negative effects of a decrease in interest rates and
 dampen the positive effects of interest rate increases. This is
 because the reinvestment assumptions used in the valuation of our
 insurance liabilities are based on interest rate scenarios and
 calibration criteria set by the Canadian Actuarial Standards Board,
 while our interest rate hedges are valued using current market
 interest rates. Therefore, in any particular quarter, changes to
 the reinvestment assumptions are not fully aligned to changes in
 current market interest rates especially when there is a
 significant change in the shape of the interest rate curve. As a
 result, the impact from&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-parallel&lt;/font&gt;&amp;#xA0;movements
 may be materially different from the estimated impact of parallel
 movements. For example, if long-term interest rates increase more
 than short-term interest rates (sometimes referred to as a
 steepening of the yield curve) in North America, the decrease in
 the value of our swaps may be greater than the decrease in the
 value of our insurance liabilities. This could result in a charge
 to net income attributed to shareholders in the short-term even
 though the rising and steepening of the yield curve, if sustained,
 may have a positive long-term economic impact.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The potential impact on net income attributed to shareholders does
 not take into account any future potential changes to our URR
 assumptions or calibration criteria for stochastic risk-free rates
 or other potential impacts of lower interest rate levels, for
 example, increased strain on the sale of new business or lower
 interest earned on our surplus assets. The impact also does not
 reflect any unrealized gains or losses on AFS fixed income assets
 held in our Corporate and Other segment. Changes in the market
 value of these assets may provide a natural economic offset to the
 interest rate risk arising from our product liabilities. In order
 for there to also be an accounting offset, the Company would need
 to realize a portion of the AFS fixed income asset unrealized gains
 or losses. It is not certain we would crystallize any of the
 unrealized gains or losses available.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 The impact does not reflect any potential effect of changing
 interest rates to the value of our ALDA assets. Rising interest
 rates could negatively impact the value of our ALDA assets (see
 &amp;#x201C;Critical Accounting and Actuarial Policies &amp;#x2013; Fair
 Value of Invested Assets&amp;#x201D;, below). More information on ALDA
 can be found under the section &amp;#x201C;Alternative Long-Duration
 Asset Performance Risk Sensitivities and Exposure Measures&amp;#x201D;,
 below.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Under LICAT, changes in unrealized gains or losses in our AFS bond
 portfolio resulting from interest rate shocks tend to dominate
 capital sensitivities. As a result, the reduction in interest rates
 improves LICAT total ratios and vice-versa.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 The following table shows the potential impact on net income
 attributed to shareholders including the change in the market value
 of AFS fixed income assets held in our Corporate and Other segment,
 which could be realized through the sale of these assets.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders and MLI&amp;#x2019;s LICAT total ratio of an immediate
 parallel change in interest rates relative to rates assumed in the
 valuation of policy liabilities&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(1),(2),(3),(4)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td width="66%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid" bgcolor="#E9EDF2"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="6"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="9"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;2017&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&lt;font style="FONT-SIZE: 7pt" color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;-50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;+50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;-50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;+50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income attributed to shareholders ($ millions)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Excluding change in market value of AFS fixed income assets held in
 the Corporate and Other segment&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;(200&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;100&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 From fair value changes in AFS fixed income assets held in the
 Corporate and Other segment, if realized&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,600&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;1,100&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;(1,000&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;&lt;b&gt;MLI&amp;#x2019;s LICAT total ratio (Percentage
 points)&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 LICAT total ratio change in percentage points&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;See &amp;#x201C;Caution Related to Sensitivities&amp;#x201D;
 above. In addition, estimates exclude changes to the net actuarial
 gains/losses with respect to the Company&amp;#x2019;s pension
 obligations as a result of changes in interest rates, as the impact
 on the quoted sensitivities is not considered to be material.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes guaranteed insurance and annuity products,
 including variable annuity contracts as well as adjustable benefit
 products where benefits are generally adjusted as interest rates
 and investment returns change, a portion of which have minimum
 credited rate guarantees. For adjustable benefit products subject
 to minimum rate guarantees, the sensitivities are based on the
 assumption that credited rates will be floored at the minimum.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The amount of gain or loss that can be realized on AFS
 fixed income assets held in the Corporate and Other segment will
 depend on the aggregate amount of unrealized gain or loss.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Sensitivities are based on projected asset and
 liability cash flows and the impact of realizing fair value changes
 in AFS fixed income is based on the holdings at the end of the
 period.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. The LICAT
 ratio is not applicable before January 1, 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The $100&amp;#xA0;million decrease in sensitivity to a 50 basis point
 decline in interest rates from December&amp;#xA0;31, 2017 was primarily
 due to purchases of fixed income assets from sales of ALDA (due to
 reducing the allocation to ALDA in our portfolio asset mix) in the
 U.S., which reduced the reinvestment exposure to interest
 rates.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 The following tables show the potential impact on net income
 attributed to shareholders resulting from a change in corporate
 spreads and swap spreads over government bond rates for all
 maturities across all markets with a floor of zero on the total
 interest rate, relative to the spreads assumed in the valuation of
 policy liabilities.&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders and MLI&amp;#x2019;s LICAT total ratio arising from
 changes to corporate spreads and swap
 spreads&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(1),(2),(3)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td width="72%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; break-inside: avoid" bgcolor="#E9EDF2"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;b&gt;Corporate
 spreads&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;As at
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income attributed to shareholders ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(600&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;600&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;(1,000&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 MLI&amp;#x2019;s LICAT total ratio (change percentage points)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&lt;b&gt;(6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;b&gt;Swap spreads&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;As at
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income attributed to shareholders ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="top"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;400&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;(400&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 MLI&amp;#x2019;s LICAT total ratio (change percentage points)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&lt;b&gt;nil&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&lt;b&gt;nil&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; BORDER-TOP: rgb(233,237,242) 1px solid; FONT-FAMILY: ARIAL; BORDER-RIGHT: rgb(233,237,242) 1px solid; WHITE-SPACE: normal; WORD-SPACING: 0px; BORDER-BOTTOM: rgb(233,237,242) 1px solid; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; BORDER-LEFT: rgb(233,237,242) 1px solid; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;See &amp;#x201C;Caution Related to Sensitivities&amp;#x201D;
 above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The impact on net income attributed to shareholders
 assumes no gains or losses are realized on our AFS fixed income
 assets held in the Corporate and Other segment and excludes the
 impact of changes in segregated fund bond values due to changes in
 credit spreads. The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes in corporate and
 swap spreads.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Sensitivities are based on projected asset and
 liability cash flows.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Corporate spreads are assumed to grade to the
 long-term average over five years.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;As the sensitivity to a 50 basis point decline in
 corporate spreads includes the impact of a change in deterministic
 reinvestment scenarios where applicable, the impact of changes to
 corporate spreads for less than, or more than, the amounts
 indicated are unlikely to be linear.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. Under
 LICAT, spread movements are determined from a selection of
 investment grade bond indices with BBB and better bonds for each
 jurisdiction. For LICAT, we use the following indices: FTSE TMX
 Canada All Corporate Bond Index, Barclays USD Liquid Investment
 Grade Corporate Index, and Nomura-BPI (Japan). The LICAT ratio is
 not applicable before January 1, 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForInterestRateAndSpreadRiskSensitivitiesAndExposureMeasuresExplanatory>
  <mfc:DescriptionOfAccountingPolicyForVariableAnnuityDynamicHedgingStrategyExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_45899354-AC8B-43C0-92B0-B17556513EF3_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Variable
 Annuity Dynamic Hedging Strategy&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;The variable annuity dynamic
 hedging strategy is designed to hedge the sensitivity of variable
 annuity guarantee policy liabilities and available capital to fund
 performance (both public equity and bond funds) and interest rate
 movements. The objective of the variable annuity dynamic hedging
 strategy is to offset, as closely as possible, the change in the
 economic value of guarantees with the profit and loss from our
 hedge asset portfolio. The economic value of guarantees moves in
 close tandem, but not exactly, with our variable annuity guarantee
 policy liabilities, as it reflects best estimate liabilities and
 does not include any liability provisions for adverse
 deviations.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;Our current variable annuity
 guarantee dynamic hedging approach is to short exchange-traded
 equity index and government bond futures and execute currency
 futures and lengthening interest rate swaps to hedge sensitivity of
 policy liabilities to fund performance and interest rate movements
 arising from variable annuity guarantees. We dynamically rebalance
 these hedge instruments as market conditions change, in order to
 maintain the hedged position within established limits. Other
 derivative instruments (such as equity and interest rate options)
 are also utilized and we may consider the use of additional hedge
 instruments opportunistically in the future.&lt;/font&gt;&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;Our variable annuity guarantee
 dynamic hedging strategy is not designed to completely offset the
 sensitivity of policy liabilities to all risks associated with the
 guarantees embedded in these products. The profit (loss) on the
 hedge instruments will not completely offset the underlying losses
 (gains) related to the guarantee liabilities hedged
 because:&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Policyholder behaviour and mortality experience are
 not hedged;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Provisions for adverse deviation in the policy
 liabilities are not hedged;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;A portion of interest rate risk is not hedged;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Credit spreads may widen and actions might not be
 taken to adjust accordingly;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fund performance on a small portion of the underlying
 funds is not hedged due to lack of availability of effective
 exchange-traded hedge instruments;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Performance of the underlying funds hedged may differ
 from the performance of the corresponding hedge instruments;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Correlations between interest rates and equity markets
 could lead to unfavourable material impacts;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Unfavourable hedge rebalancing costs can be incurred
 during periods of high volatility from equity markets, bond markets
 and/or interest rates. The impact is magnified when these impacts
 occur concurrently; and&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Not all other risks are hedged.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForVariableAnnuityDynamicHedgingStrategyExplanatory>
  <mfc:DescriptionOfAccountingPolicyForMacroEquityRiskHedgingStrategyExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_BDEAD3D0-5824-4806-AD23-4450FC7966AA_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Macro
 Equity Risk Hedging Strategy&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;The objective of the macro equity
 risk hedging program is to maintain our overall earnings
 sensitivity to public equity market movements within our Board
 approved risk appetite limits. The macro equity risk hedging
 program is designed to hedge earnings sensitivity due to movements
 in public equity markets arising from all sources (outside of
 dynamically hedged exposures). Sources of equity market sensitivity
 addressed by the macro equity risk hedging program
 include:&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Residual equity and currency exposure from variable
 annuity guarantees not dynamically hedged;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;General fund equity holdings backing &lt;font style="WHITE-SPACE: nowrap"&gt;non-participating&lt;/font&gt; liabilities; and&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;&amp;#x220E;&lt;/sup&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="top" width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Unhedged provisions for adverse deviation related to
 variable annuity guarantees dynamically hedged.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForMacroEquityRiskHedgingStrategyExplanatory>
  <mfc:DescriptionOfAccountingPolicyForInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_BA6D244D-3BAD-4F01-BDAE-F2B311B14FB1_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Investment categories for variable contracts with
 guarantees&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;Variable contracts with
 guarantees, including variable annuities and variable life, are
 invested, at the policyholder&amp;#x2019;s discretion subject to
 contract limitations, in various fund types within the segregated
 fund accounts and other investments. The account balances by
 investment category are set out below.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Investment category&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;43,528&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47,508&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balanced funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;41,625&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47,369&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Bond funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,309&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,095&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Money market funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,107&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,905&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other fixed interest rate investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,997&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,777&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;101,566&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;111,654&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory>
  <mfc:DisclosureOfInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_03B70B7C-D5DE-4C96-BA30-F4704780FF45_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;Variable contracts with
 guarantees, including variable annuities and variable life, are
 invested, at the policyholder&amp;#x2019;s discretion subject to
 contract limitations, in various fund types within the segregated
 fund accounts and other investments. The account balances by
 investment category are set out below.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Investment category&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;43,528&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47,508&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balanced funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;41,625&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47,369&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Bond funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,309&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,095&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Money market funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,107&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,905&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other fixed interest rate investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,997&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,777&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;101,566&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;111,654&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory>
  <mfc:DescriptionOfAccountingPolicyForCautionRelatedToSensitivitiesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_D7657489-D8D6-4FA6-9F0E-554A3AC3721B_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Caution
 Related to Sensitivities&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;In the sections that follow, we
 provide sensitivities and risk exposure measures for certain risks.
 These include sensitivities due to specific changes in market
 prices and interest rate levels projected using internal models as
 at a specific date and are measured relative to a starting level
 reflecting the Company&amp;#x2019;s assets and liabilities at that date
 and the actuarial factors, investment activity and investment
 returns assumed in the determination of policy liabilities. The
 risk exposures measure the impact of changing one factor at a time
 and assume that all other factors remain unchanged. Actual results
 can differ significantly from these estimates for a variety of
 reasons including the interaction among these factors when more
 than one changes; changes in actuarial and investment return and
 future investment activity assumptions; actual experience differing
 from the assumptions, changes in business mix, effective tax rates
 and other market factors; and the general limitations of our
 internal models. For these reasons, the sensitivities should only
 be viewed as directional estimates of the underlying sensitivities
 for the respective factors based on the assumptions outlined below.
 Given the nature of these calculations, we cannot provide assurance
 that the actual impact on net income attributed to
 shareholders&lt;/font&gt;&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;or on MLI&amp;#x2019;s LICAT total
 ratio will be as indicated.&lt;/font&gt;&lt;/p&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForCautionRelatedToSensitivitiesExplanatory>
  <mfc:DisclosureOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_F57D27B3-5527-4A74-8160-9D21858D4E29_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential immediate impact on net income
 attributed to shareholders arising from changes to public equity
 returns&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(1),(2),(3)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td width="56%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-30%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-20%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+20%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+30%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Underlying sensitivity to net income attributed to
 shareholders&lt;/b&gt;&lt;font style="FONT-SIZE: 5pt"&gt;&lt;sup style="FONT-SIZE: 5px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(4)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Variable annuity guarantees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(3,650&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(2,240&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(1,040&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;890&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,610&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,170&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Asset based fees (annualized)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(480&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(320&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(160&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;160&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;320&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;480&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 General fund equity investments&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(1,150&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(780&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(390&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;290&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;580&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;860&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Total underlying sensitivity before hedging&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(5,280&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(3,340&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(1,590&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;1,340&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;2,510&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;3,510&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Impact of macro and dynamic hedge assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;3,110&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;1,940&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;910&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(820&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(1,450&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(1,930&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net potential impact on net income attributed to shareholders
 after impact of hedging&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(2,170&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(1,400&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;(680&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;520&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;1,060&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;1,580&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 As at December&amp;#xA0;31, 2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-30%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-20%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+20%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+30%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" colspan="8"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Underlying sensitivity to net income attributed to
 shareholders&lt;/b&gt;&lt;font style="FONT-SIZE: 5pt"&gt;&lt;sup style="FONT-SIZE: 5px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(4)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: 0em"&gt;
 &lt;font style="FONT-SIZE: 5pt"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Variable annuity guarantees&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(3,940&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(2,260&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(960&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;670&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;1,110&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;1,410&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Asset based fees (annualized)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(510&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(340&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(170&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;170&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;340&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;510&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 General fund equity investments&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(930&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(590&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(270&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;270&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;540&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;810&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Total underlying sensitivity before hedging&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(5,380&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(3,190&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(1,400&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&amp;#xA0;&amp;#xA0;1,110&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;1,990&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;2,730&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 Impact of macro and dynamic hedge assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;3,220&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;1,850&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;790&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(640&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&amp;#xA0;&amp;#xA0;(1,100&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&amp;#xA0;&amp;#xA0;(1,410&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net potential impact on net income attributed to shareholders
 after impact of hedging&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(2,160&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(1,340&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;(610&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;470&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;890&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;1,320&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;See &amp;#x201C;Caution Related to Sensitivities&amp;#x201D;
 above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The tables show the potential impact on net income
 attributed to shareholders resulting from an immediate 10%, 20% and
 30% change in market values of publicly traded equities followed by
 a return to the expected level of growth assumed in the valuation
 of policy liabilities.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Please refer to &amp;#x201C;Sensitivity of Earnings to
 Changes in Assumptions&amp;#x201D; for more information on the level of
 growth assumed and on the net income sensitivity to changes in
 these long-term assumptions.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Defined as earnings sensitivity to a change in public
 equity markets including settlements on reinsurance contracts, but
 before the offset of hedge assets or other risk mitigants.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;This impact for general fund equities is calculated as
 at a&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;point-in-time&lt;/font&gt;&lt;/font&gt;&amp;#xA0;and
 does not include: (i)&amp;#xA0;any potential impact on public equity
 weightings; (ii)&amp;#xA0;any gains or losses on AFS public equities
 held in the Corporate and Other segment; or (iii)&amp;#xA0;any gains or
 losses on public equity investments held in Manulife Bank. The
 participating policy funds are largely self-supporting and generate
 no material impact on net income attributed to shareholders as a
 result of changes in equity markets.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes the impact of rebalancing equity hedges in
 the macro and dynamic hedging program. The impact of dynamic hedge
 rebalancing represents the impact of rebalancing equity hedges for
 dynamically hedged variable annuity guarantee best estimate
 liabilities at 5% intervals but does not include any impact in
 respect of other sources of hedge ineffectiveness (e.g. fund
 tracking, realized volatility and equity, interest rate
 correlations different from expected among other factors).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DisclosureOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsExplanatory>
  <mfc:DisclosureOfFinancialLiabilitiesMaturityExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_9EBFC029-1924-4B78-9FAC-721A6BFE25D4_1_0">&lt;div&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;The following table outlines the
 maturity of the Company&amp;#x2019;s significant financial
 liabilities.&lt;/font&gt;&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Maturity
 of financial liabilities&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="58%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Less
 than&lt;br /&gt;
 1 year&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;1 to
 3&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;3 to
 5&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Over
 5&lt;br /&gt;
 years&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Long-term debt&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;681&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,088&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,769&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Capital instruments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,732&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;359&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;229&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;227&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,988&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,803&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deposits from Bank clients&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,351&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,147&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,185&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,684&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Lease obligations&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;129&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;203&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;93&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;150&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;575&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The amounts shown above are net of the related
 unamortized deferred issue costs.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Carrying value and fair value of deposits from Bank
 clients as at December&amp;#xA0;31, 2018 was $19,684&amp;#xA0;million and
 $19,731&amp;#xA0;million, respectively (2017 &amp;#x2013;
 $18,131&amp;#xA0;million and $18,149&amp;#xA0;million, respectively). Fair
 value is determined by discounting contractual cash flows, using
 market interest rates currently offered for deposits with similar
 terms and conditions. All deposits from Bank clients were
 categorized in Level&amp;#xA0;2 of the fair value hierarchy (2017
 &amp;#x2013; Level&amp;#xA0;2).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DisclosureOfFinancialLiabilitiesMaturityExplanatory>
  <mfc:AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_D6811E12-F5D4-463F-A188-9FB9245F24F3_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Alternative Long-Duration Asset Performance Risk
 Sensitivities and Exposure Measures&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;The following table shows the
 potential impact on net income attributed to shareholders resulting
 from an immediate 10% change in market values of ALDA followed by a
 return to the expected level of growth assumed in the valuation of
 policy liabilities. If market values were to remain flat for an
 entire year, the potential impact would be roughly equivalent to an
 immediate decline in market values equal to the expected level of
 annual growth assumed in the valuation of policy liabilities.
 Further, if after market values dropped 10% they continued to
 decline, remained flat, or grew more slowly than assumed in the
 valuation of policy liabilities, the potential impact on net income
 attributed to shareholders could be considerably more than shown.
 Refer to &amp;#x201C;Sensitivity of Earnings to Changes in
 Assumptions&amp;#x201D; below, for more information on the level of
 growth assumed and on the net income sensitivity to changes in
 these long-term assumptions.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;ALDA includes commercial real
 estate, timber and farmland real estate, oil and gas direct
 holdings, and private equities, some of which relate to oil and
 gas.&lt;/font&gt;&lt;/p&gt;
 &lt;/div&gt;</mfc:AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory>
  <mfc:DisclosureOfVariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_5C08B3DF-898F-41DE-AE6A-556999BA3594_1_0">&lt;div&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;The table below shows selected
 information regarding the Company&amp;#x2019;s variable annuity and
 segregated fund investment-related guarantees gross and net of
 reinsurance.&lt;/font&gt;&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Variable
 annuity and segregated fund guarantees, net of
 reinsurance&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="98%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="51%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" rowspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Guarantee&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Fund&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Amount&amp;#xA0;at&lt;br /&gt;
 risk&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right"&gt;Guarantee&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right"&gt;Fund&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right"&gt;Amount&lt;br /&gt;
 at&amp;#xA0;risk&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Guaranteed minimum income benefit&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,264&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,675&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,593&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,195&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,074&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Guaranteed minimum withdrawal benefit&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;60,494&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;49,214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,388&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;61,767&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;56,512&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,943&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Guaranteed minimum accumulation benefit&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18,611&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18,720&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;141&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;18,162&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;18,705&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;11&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross living benefits&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;84,369&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;71,609&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,122&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;85,130&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;79,412&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,028&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross death benefits&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,663&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14,654&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,567&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;10,743&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;16,973&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;1,001&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total gross of reinsurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;95,032&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;86,263&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;14,689&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;95,873&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;96,385&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;8,029&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Living benefits reinsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,515&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,173&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,343&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,522&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,667&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;911&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Death benefits reinsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,353&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,070&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;493&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;3,014&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;3,040&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;435&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total reinsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,868&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,243&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,836&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;7,536&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;6,707&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;1,346&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, net of reinsurance&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;88,164&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;81,020&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,853&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;88,337&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;89,678&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;6,683&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Contracts with guaranteed long-term care benefits are
 included in this category.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Where a policy includes both living and death
 benefits, the guarantee in excess of the living benefit is included
 in the death benefit category as outlined in footnote 3.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Death benefits include stand-alone guarantees and
 guarantees in excess of living benefit guarantees where both death
 and living benefits are provided on a policy.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Amount at risk &lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;(in-the-money&lt;/font&gt;&lt;/font&gt; amount) is the
 excess of guarantee values over fund values on all policies where
 the guarantee value exceeds the fund value. This amount is not
 currently payable. For guaranteed minimum death benefit, the amount
 at risk is defined as the current guaranteed minimum death benefit
 in excess of the current account balance. For guaranteed minimum
 income benefit, the amount at risk is defined as the excess of the
 current annuitization income base over the current account value.
 For all guarantees, the amount at risk is floored at zero at the
 single contract level.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The amount at risk net of reinsurance at
 December&amp;#xA0;31, 2018 was $12,853&amp;#xA0;million (2017 &amp;#x2013;
 $6,683 million) of which: US$6,899&amp;#xA0;million (2017 &amp;#x2013;
 US$3,982 million) was on our U.S. business, $2,654&amp;#xA0;million
 (2017 &amp;#x2013; $1,342 million) was on our Canadian business,
 US$332&amp;#xA0;million (2017 &amp;#x2013; US$95 million) was on our Japan
 business and US$246&amp;#xA0;million (2017 &amp;#x2013; US$181 million) was
 related to Asia (other than Japan) and our &lt;font style="WHITE-SPACE: nowrap"&gt;run-off&lt;/font&gt; reinsurance business.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DisclosureOfVariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceExplanatory>
  <mfc:DisclosureOfInvestmentsIncludingInvestmentsAccountedForUsingEquityMethodExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_1E04CA26-4EA7-4A69-B75A-83418428F530_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 3&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Invested
 Assets and Investment Income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Carrying values and fair values of
 invested assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="57%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;FVTPL&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;AFS&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&amp;#xA0;carrying&lt;br /&gt;
 value&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total fair&lt;br /&gt;
 value&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and short-term securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,080&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,163&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,972&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,215&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,215&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,342&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23,787&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23,787&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,990&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;25,924&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;25,924&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,159&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,101&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;20,260&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;20,260&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;107,425&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;112,670&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;112,670&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,774&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,953&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,953&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,721&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,458&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,363&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,363&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,628&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;36,103&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,793&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,793&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,797&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Own use property&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,016&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,016&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Investment property&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Alternative long-duration assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(9),(10)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,720&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;101&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,617&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;23,438&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;24,211&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Various other&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;&amp;#xA0;(11)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;151&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,954&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,105&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,104&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total invested assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;187,409&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;43,579&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;122,676&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;353,664&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;356,217&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;FVTPL&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;AFS&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;Other&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;Total&amp;#xA0;carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;Total fair&lt;br /&gt;
 value&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and short-term securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;439&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,429&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,097&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,965&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,965&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,886&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,892&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22,778&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22,778&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,497&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,472&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;25,969&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;25,969&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,838&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,988&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,826&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,826&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;96,785&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,366&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;102,151&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;102,151&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,018&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;258&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,276&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,276&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,072&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21,545&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21,545&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;46,065&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34,581&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,737&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,737&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Own use property&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,281&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,281&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,448&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Investment property&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Alternative long-duration assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(9),(10)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,018&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,624&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;20,730&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21,053&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Various other&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;&amp;#xA0;(11)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;142&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,611&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,753&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,752&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total invested assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;178,096&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;41,565&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;114,561&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;334,222&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;339,488&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;FVTPL classification was elected for securities
 backing insurance contract liabilities to substantially reduce any
 accounting mismatch arising from changes in the fair value of these
 assets and changes in the value of the related insurance contract
 liabilities. If this election had not been made and instead the AFS
 classification was selected, there would be an accounting mismatch
 because changes in insurance contract liabilities are recognized in
 net income rather than in OCI.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Securities that are designated as AFS are not actively
 traded by the Company but sales do occur as circumstances warrant.
 Such sales result in a reclassification of any accumulated
 unrealized gain (loss) in AOCI to net income as a realized gain
 (loss).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Primarily includes assets classified as loans and
 carried at amortized cost, own use properties, investment
 properties, equity method accounted investments, oil and gas
 investments, and leveraged leases. Refer to note 1(e) for further
 details regarding accounting policy.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fixed income invested assets presented above include
 debt securities, mortgages, private placements and approximately
 $600 other invested assets, which primarily have contractual cash
 flows that qualify as SPPI. Fixed income invested assets which do
 not have SPPI qualifying cash flows as at December&amp;#xA0;31, 2018
 include debt securities, private placements and other invested
 assets with fair values of $105, $230 and $465, respectively. The
 change in the fair value of these invested assets during the year
 amounts to $21.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The methodologies used in determining fair values of
 invested assets are described in note 1(c) and note 3(g).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes short-term securities with maturities of less
 than one year at acquisition amounting to $2,530 (2017 &amp;#x2013;
 $2,737), cash equivalents with maturities of less than 90 days at
 acquisition amounting to $8,713 (2017 &amp;#x2013; $9,131) and cash of
 $4,972 (2017 &amp;#x2013; $4,097).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Debt securities include securities which were acquired
 with maturities of less than one year and less than 90 days of $870
 and $40, respectively (2017 &amp;#x2013; $1,768 and $161,
 respectively).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes accumulated depreciation of $391 (2017
 &amp;#x2013; $389).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(9)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Alternative long-duration assets (&amp;#x201C;ALDA&amp;#x201D;)
 include investments in private equity of $6,769, power and
 infrastructure of $7,970, oil and gas of $3,416, timber and
 agriculture of $4,493 and various other invested assets of $791
 (2017 &amp;#x2013; $4,959, $7,355, $2,813, $5,033 and $570,
 respectively). Included in power and infrastructure are a group of
 investments in hydro-electric power of $426 for which the Company
 has an approved plan of sale. Sale of these investments is expected
 to be completed within one year. This disposal group is classified
 as held for sale and measured at the lower of carrying amount and
 fair value less costs to sell.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(10)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;During 2018, the Company sold the following invested
 assets to related parties: $1,422 of power and infrastructure ALDA
 to the John Hancock Infrastructure Master Fund L.P. in the U.S. an
 associate of the Company which is a structured entity based on
 partnership voting rights, the Company provides management services
 to the fund and owns less than 1% of the ownership interest; $510
 (2017 &amp;#x2013; $395) of U.S. commercial real estate to the Manulife
 US Real Estate Investment Trust in Singapore, an associate of the
 Company which is a structured entity based on unitholder voting
 rights, the Company provides management services to the trust and
 owns approximately 8.5% (2017 &amp;#x2013; 9.5%) of its units; and
 $1,314 of U.S. commercial real estate to three newly established
 joint ventures which are structured entities based on voting
 rights. During 2017, $619 of U.S. commercial real estate was sold
 to the Hancock US Real Estate Fund, L.P., an associate of the
 Company which is a structured entity based on partnership voting
 rights. The Company provides management services to the fund and
 owns approximately 11.7% of its partnership interests.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(11)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes $3,575 (2017 &amp;#x2013; $3,273) of leveraged
 leases. Refer to note 1(e) regarding accounting policy.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Equity method accounted invested
 assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Other invested assets include investments in associates and joint
 ventures which are accounted for using the equity method of
 accounting as presented in the following table.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;% of total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;% of total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Leveraged leases&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,575&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;51&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,273&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;56&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Timber and agriculture&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;599&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;451&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;725&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;498&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,959&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;29&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,535&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;27&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,858&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;5,757&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;100&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s share of profit and dividends from these
 investments for the year ended December&amp;#xA0;31, 2018 were $369 and
 $13, respectively (2017 &amp;#x2013; $291 and $14, respectively).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Investment income&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="67%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Other&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;268&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(74&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;62&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(12&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;5,432&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;646&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,078&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(5,993&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(310&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(6,303&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Recovery (impairment loss), net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Dividend income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;484&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;556&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,596&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;330&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,266&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(43&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(43&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,824&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,824&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Provision, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,729&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,729&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;371&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;371&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;81&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;81&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Provision, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Rental income, net of depreciation&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;515&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;515&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;689&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(33&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;656&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,251&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,224&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;74&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;74&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Oil and gas, timber, agriculture and other income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,758&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,758&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;283&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(110&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;173&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(114&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(120&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total investment income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,992&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,003&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,521&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,532&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,139&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;896&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,046&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,081&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Dividend, rental and other income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;484&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;72&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,273&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,829&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairments, provisions and recoveries, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(47&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(133&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(164&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(271&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;58&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(186&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,368&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;979&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,213&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,560&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Realized and unrealized gains (losses) on assets supporting
 insurance and investment contract liabilities and on macro equity
 hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(6,012&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(5,994&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,454&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,444&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;55&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;55&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(83&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;449&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;449&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;357&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(140&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;213&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Derivatives, including macro equity hedging program&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,251&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,224&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(9,360&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;24&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;308&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(9,028&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total investment income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2,992&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,003&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;6,521&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,532&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 8px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="66%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;FVTPL&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;AFS&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Other&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;153&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;160&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(25&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,102&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;577&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,679&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,690&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(205&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,485&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Recovery (impairment loss), net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Dividend income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;524&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;79&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;603&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,372&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;226&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,598&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,685&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,685&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;69&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;69&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Provision, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(32&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(32&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,553&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,553&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;43&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;43&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;365&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;365&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;68&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;68&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Rental income, net of depreciation&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;517&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;517&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;341&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;341&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;809&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;84&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;893&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,029&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;84&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(945&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;174&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;174&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Oil and gas, timber, agriculture and other income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,690&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,690&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Gains (losses)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;441&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;50&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;484&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairment loss, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(45&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(45&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total investment income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;11,954&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;761&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;6,652&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;19,367&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Interest income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,918&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;730&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,929&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,577&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Dividend, rental and other income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;524&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;79&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,207&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,810&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impairments, provisions and recoveries, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(71&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(70&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;460&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(51&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(77&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;332&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;6,918&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;743&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,988&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;13,649&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Realized and unrealized gains (losses) on assets supporting
 insurance and investment contract liabilities and on macro equity
 hedges&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,694&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,686&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Public equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,200&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,235&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;69&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;69&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;40&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Real estate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;350&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;350&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;329&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;121&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;441&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Derivatives, including macro equity hedging program&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,187&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;84&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,103&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,036&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;18&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;664&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,718&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total investment income&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;11,954&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;761&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;6,652&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;19,367&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Primarily includes investment income on loans carried
 at amortized cost, own use properties, investment properties,
 derivative and hedging instruments in cash flow hedging
 relationships, equity method accounted investments, oil and gas
 investments, and leveraged leases.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes net realized and unrealized gains (losses)
 for financial instruments at FVTPL, real estate investment
 properties, and other invested assets measured at fair value. Also
 includes net realized gains (losses) for financial instruments at
 AFS and other invested assets carried at amortized cost.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Rental income from investment properties is net of
 direct operating expenses.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Investment expenses&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the Company&amp;#x2019;s total investment
 expenses.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="83%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Related to invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;638&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;625&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Related to segregated, mutual and other funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,070&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,048&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total investment expenses&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,708&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,673&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(e) Investment properties&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the rental income and direct operating
 expenses of investment properties.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="83%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Rental income from investment properties&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,013&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,120&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Direct operating expenses of rental investment properties&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(582&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(694&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;431&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;426&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(f) Mortgage securitization&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company securitizes certain insured and uninsured fixed and
 variable rate residential mortgages and Home Equity Lines of Credit
 (&amp;#x201C;HELOC&amp;#x201D;) through creation of mortgage-backed
 securities under the Canadian Mortgage Bond Program
 (&amp;#x201C;CMB&amp;#x201D;), and the HELOC securitization program.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Benefits received from the securitization include interest spread
 between the asset and associated liability. There are no expected
 credit losses on securitized mortgages under the Canada Mortgage
 and Housing Corporation (&amp;#x201C;CMHC&amp;#x201D;) sponsored CMB and the
 Platinum Canadian Mortgage Trust (&amp;#x201C;PCMT&amp;#x201D;) HELOC
 securitization programs as they are insured by CMHC and other
 third-party insurance programs against borrowers&amp;#x2019; default.
 Mortgages securitized in the Platinum Canadian Mortgage Trust II
 (&amp;#x201C;PCMT II&amp;#x201D;) program are uninsured.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Cash flows received from the underlying securitized
 assets/mortgages are used to settle the related secured borrowing
 liability. For CMB transactions, receipts of principal are
 deposited into a trust account for settlement of the liability at
 time of maturity. These transferred assets and related cash flows
 cannot be transferred or used for other purposes. For the HELOC
 transactions, investors are entitled to periodic interest payments,
 and the remaining cash receipts of principal are allocated to the
 Company (the &amp;#x201C;Seller&amp;#x201D;) during the revolving period of
 the deal and are accumulated for settlement during an accumulation
 period or repaid to the investor monthly during a reduction period,
 based on the terms of the note.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Securitized assets and secured borrowing
 liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="54%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="8%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;As at
 December&amp;#xA0;31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" nowrap="nowrap" align="center"&gt;Securitized assets&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 Securitization program&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Securitized&lt;br /&gt;
 mortgages&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Restricted cash and&lt;br /&gt;
 short-term securities&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Secured borrowing&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 HELOC securitization&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,285&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;8&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,293&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;2,250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 CMB securitization&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,525&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,525&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,524&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,810&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;$&amp;#xA0;&amp;#xA0;8&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,818&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;3,774&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="12"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;As at
 December&amp;#xA0;31, 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="10" nowrap="nowrap" align="center"&gt;Securitized assets&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 Securitization program&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Securitized&lt;br /&gt;
 mortgages&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Restricted cash and&lt;br /&gt;
 short-term securities&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Secured borrowing&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 HELOC securitization&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,024&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,032&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;2,000&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 CMB securitization&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,480&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,480&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,523&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;3,504&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;8&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;3,512&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;$&amp;#xA0;&amp;#xA0;3,523&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Manulife Bank, a MFC subsidiary, securitizes a portion
 of its HELOC receivables through Platinum Canadian Mortgage Trust
 (&amp;#x201C;PCMT&amp;#x201D;), and Platinum Canadian Mortgage Trust II
 (&amp;#x201C;PCMT II&amp;#x201D;). PCMT funds the purchase of
 the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;co-ownership&lt;/font&gt;&amp;#xA0;interests
 from Manulife Bank by issuing term notes collateralized by an
 underlying pool of CMHC insured HELOCs to institutional investors.
 PCMT II funds the purchase of the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;co-ownership&lt;/font&gt;&amp;#xA0;interests
 from Manulife Bank by issuing term notes collateralized by an
 underlying pool of uninsured HELOCs to institutional investors. The
 restricted cash balance for the HELOC securitization reflects a
 cash reserve fund established in relation to the transactions. The
 reserve will be drawn upon only in the event of insufficient cash
 flows from the underlying HELOCs to satisfy the secured borrowing
 liability.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Secured borrowing liabilities primarily comprise of
 Series&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;2011-1&lt;/font&gt;&amp;#xA0;notes with a
 floating rate which are expected to mature on December&amp;#xA0;15,
 2021, and the Series&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;2016-1&lt;/font&gt;&amp;#xA0;notes with a
 floating rate which are expected to mature on May&amp;#xA0;15, 2022.
 Manulife Bank also securitizes insured amortizing mortgages under
 the National Housing Act Mortgage-Backed Securities (&amp;#x201C;NHA
 MBS&amp;#x201D;) program sponsored by CMHC. Manulife Bank participates
 in CMB programs by selling NHA MBS securities to Canada Housing
 Trust (&amp;#x201C;CHT&amp;#x201D;), as a source of fixed rate funding.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 As at December&amp;#xA0;31, 2018, the fair value of the securitized
 assets was $3,843 (2017 &amp;#x2013; $3,533) and the associated
 liabilities was $3,756 (2017 &amp;#x2013; $3,503).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(g) Fair value measurement&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following table presents the fair values of invested assets and
 segregated funds net assets measured at fair value categorized by
 the fair value hierarchy.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="61%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total fair&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,080&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,080&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,163&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,163&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,972&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,972&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Debt securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;b&gt;FVTPL&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,445&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,934&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,159&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,979&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;180&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;107,425&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;106,641&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;784&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,344&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,344&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,417&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,417&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;b&gt;AFS&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,342&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,342&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,990&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,990&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,101&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,064&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,245&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,125&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;120&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;128&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;128&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;49&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;49&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Public equities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,721&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,718&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,458&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,456&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Real estate &amp;#x2013; investment property&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(&lt;/sup&gt;&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;1)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Other invested assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,562&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,562&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Segregated funds net assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;276,178&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;32,584&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,447&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;562,520&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;300,324&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;228,293&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;33,903&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Total fair&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Cash and short-term securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;439&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;439&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,429&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,429&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,097&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,097&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Debt securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;b&gt;FVTPL&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,886&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,886&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,497&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,497&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,838&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,599&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;239&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;96,785&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;96,073&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;710&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,099&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,099&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,911&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,886&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;25&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;b&gt;AFS&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Canadian government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,892&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,892&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 U.S. government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,472&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,472&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other government and agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,988&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,941&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,366&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,278&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;37&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;37&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;138&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;138&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;83&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;82&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Public equities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,473&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,470&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 AFS&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,072&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,069&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Real estate &amp;#x2013; investment property&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Other invested assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,203&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,203&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Segregated funds net assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(&lt;/sup&gt;&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;3)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;286,490&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;33,562&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,255&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;564,549&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;312,128&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;218,320&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;34,101&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;For investment properties, the significant
 unobservable inputs are capitalization rates (ranging from 2.75% to
 8.75% during the year and ranging from 3.50% to 9.00% during 2017)
 and terminal capitalization rates (ranging from 3.65% to 9.25%
 during the year and ranging from 4.0% to 9.25% during 2017).
 Holding other factors constant, a lower capitalization or terminal
 capitalization rate will tend to increase the fair value of an
 investment property. Changes in fair value based on variations in
 unobservable inputs generally cannot be extrapolated because the
 relationship between the directional changes of each input is not
 usually linear.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other invested assets measured at fair value are held
 primarily in power and infrastructure and timber sectors. The
 significant inputs used in the valuation of the Company&amp;#x2019;s
 power and infrastructure investments are primarily future
 distributable cash flows, terminal values and discount rates.
 Holding other factors constant, an increase to future distributable
 cash flows or terminal values would tend to increase the fair value
 of a power and infrastructure investment, while an increase in the
 discount rate would have the opposite effect. Discount rates during
 the year ranged from 8.95% to 16.5% (2017 &amp;#x2013; ranged from 9.20%
 to 16.5%). Disclosure of distributable cash flow and terminal value
 ranges are not meaningful given the disparity in estimates by
 project. The significant inputs used in the valuation of the
 Company&amp;#x2019;s investments in timberland are timber prices and
 discount rates. Holding other factors constant, an increase to
 timber prices would tend to increase the fair value of a timberland
 investment, while an increase in the discount rates would have the
 opposite effect. Discount rates during the year ranged from 5.0% to
 7.0% (2017 &amp;#x2013; ranged from 5.0% to 7.5%). A range of prices for
 timber is not meaningful as the market price depends on factors
 such as property location and proximity to markets and export
 yards.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Segregated funds net assets are measured at fair
 value. The Company&amp;#x2019;s Level&amp;#xA0;3 segregated funds assets are
 predominantly invested in investment properties and timberland
 properties valued as described above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Fair value and the fair value hierarchy of invested assets not
 measured at fair value.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="56%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,363&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,628&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;48,628&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;36,103&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,325&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,778&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,446&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,793&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,797&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,797&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate &amp;#x2013; own use property&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,016&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,179&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9,981&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,753&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;121&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,632&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total invested assets disclosed at fair value&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;104,353&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;106,906&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;121&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;38,568&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;68,217&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;Carrying&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;Level&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;Level&amp;#xA0;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;Level&amp;#xA0;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Mortgages&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;46,065&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;46,065&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34,581&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;28,514&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,067&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Policy loans&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,808&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Loans to Bank clients&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,737&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,742&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate &amp;#x2013; own use property&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,281&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,448&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,448&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other invested assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;8,280&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;8,602&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;8,514&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total invested assets disclosed at fair value&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;93,980&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;99,246&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;36,064&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;63,094&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fair value of commercial mortgages is determined
 through an internal valuation methodology using both observable and
 unobservable inputs. Unobservable inputs include credit assumptions
 and liquidity spread adjustments. Fair value of fixed-rate
 residential mortgages is determined using the discounted cash flow
 method. Inputs used for valuation are primarily comprised of
 prevailing interest rates and prepayment rates, if applicable. Fair
 value of variable-rate residential mortgages is assumed to be their
 carrying value.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fair value of private placements is determined through
 an internal valuation methodology using both observable and
 unobservable inputs. Unobservable inputs include credit assumptions
 and liquidity spread adjustments. Private placements are classified
 within Level&amp;#xA0;2 unless the liquidity adjustment constitutes a
 significant price impact, in which case the securities are
 classified as Level&amp;#xA0;3.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fair value of policy loans is equal to their unpaid
 principal balances.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fair value of fixed-rate loans to Bank clients is
 determined using the discounted cash flow method. Inputs used for
 valuation are primarily comprised of current interest rates. Fair
 value of variable-rate loans is assumed to be their carrying
 value.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Fair value of own use real estate and the fair value
 hierarchy are determined in accordance with the methodologies
 described for real estate &amp;#x2013; investment property in
 note&amp;#xA0;1.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Primarily include leveraged leases, oil and gas
 properties and equity method accounted other invested assets. Fair
 value of leveraged leases is disclosed at their carrying values as
 fair value is not routinely calculated on these investments. Fair
 value for oil and gas properties is determined using external
 appraisals based on discounted cash flow methodology. Inputs used
 in valuation are primarily comprised of forecasted price curves,
 planned production, as well as capital expenditures, and operating
 costs. Fair value of equity method accounted other invested assets
 is determined using a variety of valuation techniques including
 discounted cash flows and market comparable approaches. Inputs vary
 based on the specific investment.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Transfers between Level&amp;#xA0;1 and
 Level&amp;#xA0;2&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company records transfers of assets and liabilities between
 Level&amp;#xA0;1 and Level&amp;#xA0;2 at their fair values as at the end of
 each reporting period. Assets are transferred out of Level&amp;#xA0;1
 when they are no longer transacted with sufficient frequency and
 volume in an active market. Conversely, assets are transferred from
 Level&amp;#xA0;2 to Level&amp;#xA0;1 when transaction volume and frequency
 are indicative of an active market. The Company had $nil of assets
 transferred between Level&amp;#xA0;1 and Level&amp;#xA0;2 during the years
 ended December&amp;#xA0;31,&amp;#xA0;2018 and 2017.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 For segregated funds net assets, the Company had $nil transfers
 from Level&amp;#xA0;1 to Level&amp;#xA0;2 for the year ended
 December&amp;#xA0;31, 2018 (2017&amp;#xA0;&amp;#x2013; $nil). The Company had $2
 transfers from Level&amp;#xA0;2 to Level&amp;#xA0;1 for the year ended
 December&amp;#xA0;31, 2018 (2017 &amp;#x2013; $5).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Invested assets and segregated funds net
 assets measured at fair value using significant unobservable inputs
 (Level 3)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company classifies fair values of invested assets and
 segregated funds net assets as Level&amp;#xA0;3 if there are no
 observable markets for these assets or, in the absence of active
 markets, most of the inputs used to determine fair value are based
 on the Company&amp;#x2019;s own assumptions about market participant
 assumptions. The Company prioritizes the use of market-based inputs
 over entity-based assumptions in determining Level&amp;#xA0;3 fair
 values. The gains and losses in the tables below include the
 changes in fair value due to both observable and unobservable
 factors.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following tables present a roll forward for invested assets and
 segregated funds net assets measured at fair value using
 significant unobservable inputs (Level 3) for the years ended
 December&amp;#xA0;31, 2018 and 2017.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="37%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended&lt;br /&gt;
 December&amp;#xA0;31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&lt;br /&gt;
 realized/&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses)&lt;br /&gt;
 included&lt;br /&gt;
 in net&lt;br /&gt;
 income&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&lt;br /&gt;
 realized/&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses)&lt;br /&gt;
 included&lt;br /&gt;
 in AOCI&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Purchases&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Sales&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Settlements&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Transfer&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;into&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Transfer&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;out of&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Currency&lt;br /&gt;
 movement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;&lt;b&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Change in&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses) on&lt;br /&gt;
 assets still&lt;br /&gt;
 held&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Debt securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;FVTPL&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other government&amp;#xA0;&amp;amp; agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;239&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(85&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(14&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;180&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;710&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;190&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(61&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(18&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(93&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;53&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;784&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;25&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;31&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(56&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;975&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;248&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(146&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(32&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(149&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;68&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;971&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;AFS&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other government&amp;#xA0;&amp;amp; agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;47&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(15&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;88&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;49&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(12&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;120&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;136&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;55&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(27&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(8&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;159&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Public equities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Real estate &amp;#x2013; investment property&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,529&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;291&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;615&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,578&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(706&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;610&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,761&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;244&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Other invested assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16,203&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(1,168&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3,926&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,636&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(841&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(35&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,112&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;17,562&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(434&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;28,732&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(877&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,541&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(4,214&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(841&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(741&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,722&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;28,323&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(190&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Segregated funds net assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,255&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;226&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;155&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(367&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(17&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;191&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,447&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;161&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;34,101&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(644&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;4,999&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(4,754&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(880&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(915&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;1,991&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;33,903&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(36&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="47%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&lt;br /&gt;
 realized/&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses)&lt;br /&gt;
 included&lt;br /&gt;
 in net&lt;br /&gt;
 income&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Net&lt;br /&gt;
 realized/&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses)&lt;br /&gt;
 included&lt;br /&gt;
 in AOCI&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Purchases&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Sales&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Settlements&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Transfer&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;into&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Transfer&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;out of&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Level&amp;#xA0;3&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Currency&lt;br /&gt;
 movement&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Change in&lt;br /&gt;
 unrealized&lt;br /&gt;
 gains&lt;br /&gt;
 (losses) on&lt;br /&gt;
 assets still&lt;br /&gt;
 held&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Debt securities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;FVTPL&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other government&amp;#xA0;&amp;amp; agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;272&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;26&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(58&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;239&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;651&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;105&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(34&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(29&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;24&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(21&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;710&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;35&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(7&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;25&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;966&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;15&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;131&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(97&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(43&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;24&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(21&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;975&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;AFS&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other government&amp;#xA0;&amp;amp; agency&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;51&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Corporate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;74&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Residential mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Commercial mortgage/asset-backed securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other securitized assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;130&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;36&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(26&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(8&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;136&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Public equities&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 FVTPL&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(4&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Real estate &amp;#x2013; investment property&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,756&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;301&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,257&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,267&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(518&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,529&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;264&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Other invested assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;14,849&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;395&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3,022&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(435&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(837&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(791&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;16,203&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;244&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;27,605&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;696&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,279&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,702&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(837&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(1,309&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;28,732&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;508&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Segregated funds net assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,574&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;60&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;261&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(248&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(54&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(184&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(154&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,255&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;45&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;33,282&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;770&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;4,707&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(2,077&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(942&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;25&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(205&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(1,460&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;34,101&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;558&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These amounts are included in net investment income on
 the Consolidated Statements of Income except for the amount related
 to segregated funds net assets, where the amount is recorded in
 changes in segregated funds net assets, refer to note&amp;#xA0;22.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;These amounts are included in AOCI on the Consolidated
 Statements of Financial Position.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;For assets transferred into and out of Level&amp;#xA0;3,
 the Company uses fair values of the assets at the beginning of the
 year.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Transfers into Level&amp;#xA0;3 primarily result from securities that
 were impaired during the year or securities where a lack of
 observable market data (versus the previous period) resulted in
 reclassifying assets into Level&amp;#xA0;3. Transfers from Level&amp;#xA0;3
 primarily result from observable market data now being available
 for the entire term structure of the debt security.&lt;/p&gt;
 &lt;/div&gt;</mfc:DisclosureOfInvestmentsIncludingInvestmentsAccountedForUsingEquityMethodExplanatory>
  <mfc:DisclosureOfNatureOfOperationsAndSignificantAccountingPoliciesTextBlock contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_C5724BFC-1B55-49C0-A069-B60CBC8AD497_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#2A517F"&gt;&lt;b&gt;Note 1&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Nature of
 Operations and Significant Accounting Policies&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Reporting entity&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Manulife Financial Corporation (&amp;#x201C;MFC&amp;#x201D;) is a publicly
 traded company and the holding company of The Manufacturers Life
 Insurance Company (&amp;#x201C;MLI&amp;#x201D;), a Canadian life insurance
 company. MFC and its subsidiaries (collectively,
 &amp;#x201C;Manulife&amp;#x201D; or the &amp;#x201C;Company&amp;#x201D;) is a leading
 financial services group with principal operations in Asia, Canada
 and the United States. Manulife&amp;#x2019;s international network of
 employees, agents and distribution partners offers financial
 protection and wealth management products and services to personal
 and business clients as well as asset management services to
 institutional customers. The Company operates as Manulife in Canada
 and Asia and as John Hancock in the United States.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 MFC is domiciled in Canada and incorporated under the Insurance
 Companies Act (Canada) (&amp;#x201C;ICA&amp;#x201D;). These Consolidated
 Financial Statements have been prepared in accordance with
 International Financial Reporting Standards (&amp;#x201C;IFRS&amp;#x201D;) as
 issued by the International Accounting Standards Board
 (&amp;#x201C;IASB&amp;#x201D;).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 These Consolidated Financial Statements should be read in
 conjunction with &amp;#x201C;Risk Management&amp;#x201D; in the 2018
 Management&amp;#x2019;s Discussion and Analysis (&amp;#x201C;MD&amp;amp;A&amp;#x201D;)
 dealing with IFRS 7 &amp;#x201C;Financial Instruments:
 Disclosures&amp;#x201D; as the discussion on market risk and liquidity
 risk includes certain disclosures that are considered an integral
 part of these Consolidated Financial Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 These Consolidated Financial Statements as at and for the year
 ended December&amp;#xA0;31, 2018 were authorized for issue by
 MFC&amp;#x2019;s Board of Directors on February&amp;#xA0;13, 2019.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(b) Basis of preparation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The preparation of Consolidated Financial Statements in conformity
 with IFRS requires management to make judgments, estimates and
 assumptions that affect the application of accounting policies and
 the reported amounts of assets and liabilities, and the disclosure
 of contingent assets and liabilities as at the date of the
 Consolidated Financial Statements, and the reported amounts of
 revenue and expenses during the reporting periods. Actual results
 may differ from these estimates. The most significant estimation
 processes relate to assumptions used in measuring insurance and
 investment contract liabilities, assessing assets for impairment,
 determining of pension and other post-employment benefit obligation
 and expense assumptions, determining income taxes and uncertain tax
 positions and fair valuation of certain invested assets. Estimates
 and underlying assumptions are reviewed on an ongoing basis.
 Revisions to accounting estimates are recognized in the year in
 which the estimates are revised and in any future years affected.
 Although some variability is inherent in these estimates,
 management believes that the amounts recorded are appropriate. The
 significant accounting policies used and the most significant
 judgments made by management in applying these accounting policies
 in the preparation of these Consolidated Financial Statements are
 summarized below.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(c) Fair value measurement&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Fair value is defined as the price that would be received to sell
 an asset or paid to transfer a liability in an orderly transaction
 (not a forced liquidation or distress sale) between market
 participants at the measurement date, that is, an exit value.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 When available, quoted market prices are used to determine fair
 value. If quoted market prices are not available, fair value is
 typically based upon alternative valuation techniques such as
 discounted cash flows, matrix pricing, consensus pricing services
 and other techniques. Broker quotes are generally used when
 external public vendor prices are not available.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company has a process in place that includes a review of price
 movements relative to the market, a comparison of prices between
 vendors, and a comparison to internal matrix pricing which uses
 predominately external observable data. Judgment is applied in
 adjusting external observable data for items including liquidity
 and credit factors.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company categorizes its fair value measurements according to a
 three-level hierarchy. The hierarchy prioritizes the inputs used by
 the Company&amp;#x2019;s valuation techniques. A level is assigned to
 each fair value measurement based on the lowest level input
 significant to the fair value measurement in its entirety. The
 three levels of the fair value hierarchy are defined as
 follows:&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Level&amp;#xA0;1 &amp;#x2013; Fair value measurements that reflect
 unadjusted, quoted prices in active markets for identical assets
 and liabilities that the Company can access at the measurement date
 reflecting market transactions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Level&amp;#xA0;2 &amp;#x2013; Fair value measurements using inputs other
 than quoted prices included within Level&amp;#xA0;1 that are observable
 for the asset or liability, either directly or indirectly. These
 include quoted prices for similar assets and liabilities in active
 markets, quoted prices for identical or similar assets and
 liabilities in inactive markets, inputs that are observable that
 are not prices (such as interest rates, credit risks, etc.) and
 inputs that are derived from or corroborated by observable market
 data. Most debt securities are classified within Level&amp;#xA0;2.
 Also, included in the Level&amp;#xA0;2 category are derivative
 instruments that are priced using models with observable market
 inputs, including interest rate swaps, equity swaps, and foreign
 currency forward contracts.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Level&amp;#xA0;3 &amp;#x2013; Fair value measurements using
 significant&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-market&lt;/font&gt;&amp;#xA0;observable
 inputs. These include valuations for assets and liabilities that
 are derived using data, some or all of which is not market
 observable, including assumptions about risk. Level&amp;#xA0;3
 securities include less liquid securities such as structured
 asset-backed securities, commercial mortgage-backed securities
 (&amp;#x201C;CMBS&amp;#x201D;), certain long-duration bonds and other
 securities that have little or no price transparency. Certain
 derivative financial instruments and investment properties are also
 included in Level&amp;#xA0;3.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(d) Basis of consolidation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 MFC consolidates the financial statements of all entities,
 including certain structured entities that it controls.
 Subsidiaries are entities controlled by the Company. The Company
 has control over an entity when the Company has the power to govern
 the financial and operating policies of the entity, is exposed to
 variable returns from its activities which are significant in
 relation to the total variable returns of the entity and the
 Company is able to use its power over the entity to affect its
 share of variable returns. In assessing control, significant
 judgment is applied while considering all relevant facts and
 circumstances. When assessing decision-making power, the Company
 considers the extent of its rights relative to the management of an
 entity, the level of voting rights held in an entity which are
 potentially or presently exercisable, the existence of any
 contractual management agreements which may provide the Company
 with power over an entity&amp;#x2019;s financial and operating policies
 and to the extent of other parties&amp;#x2019; ownership in an entity,
 if any, the possibility for de facto control being present. When
 assessing returns, the Company considers the significance of direct
 and indirect financial and&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-financial&lt;/font&gt;&amp;#xA0;variable
 returns to the Company from an entity&amp;#x2019;s activities in
 addition to the proportionate significance of such returns. The
 Company also considers the degree to which its interests are
 aligned with those of other parties investing in an entity and the
 degree to which it may act in its own interest.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The financial statements of subsidiaries are included in
 MFC&amp;#x2019;s consolidated results from the date control is
 established and are excluded from consolidation from the date
 control ceases. The initial control assessment is performed at
 inception of the Company&amp;#x2019;s involvement with the entity and is
 reconsidered at a later date if the Company acquires or loses power
 over key operating and financial policies of the entity; acquires
 additional interests or disposes of interests in the entity; the
 contractual arrangements of the entity are amended such that the
 Company&amp;#x2019;s proportionate exposure to variable returns changes;
 or if the Company&amp;#x2019;s ability to use its power to affect its
 variable returns from the entity changes.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s Consolidated Financial Statements have been
 prepared using uniform accounting policies for like transactions
 and events in similar circumstances. Intercompany balances, and
 income and expenses arising from intercompany transactions, have
 been eliminated in preparing the Consolidated Financial
 Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;&amp;#xA0;interests
 are interests of other parties in the equity of MFC&amp;#x2019;s
 subsidiaries and are presented within total equity, separate from
 the equity of MFC&amp;#x2019;s
 shareholders.&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;&amp;#xA0;interests
 in the net income and other comprehensive income
 (&amp;#x201C;OCI&amp;#x201D;) of MFC&amp;#x2019;s subsidiaries are included in
 total net income and total OCI, respectively. An exception to this
 occurs where the subsidiary&amp;#x2019;s shares are required to be
 redeemed for cash on a fixed or determinable date, in which case
 other parties&amp;#x2019; interests in the subsidiary&amp;#x2019;s capital
 are presented as liabilities of the Company and other
 parties&amp;#x2019;&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-controlling&lt;/font&gt;&amp;#xA0;interests
 in the subsidiary&amp;#x2019;s income and OCI are recorded as expenses
 of the Company.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The equity method of accounting is used to account for entities
 over which the Company has significant influence
 (&amp;#x201C;associates&amp;#x201D; or &amp;#x201C;joint ventures&amp;#x201D;), whereby
 the Company records its share of the associate&amp;#x2019;s or joint
 venture&amp;#x2019;s net assets and financial results using uniform
 accounting policies for similar transactions and events.
 Significant judgment is used to determine whether voting rights,
 contractual management and other relationships with the entity, if
 any, provide the Company with significant influence or joint
 control over the entity. Gains and losses on the sale of associates
 or joint ventures are included in income when realized, while
 impairment losses are recognized immediately when there is
 objective evidence of impairment. Gains and losses on commercial
 transactions with associates or joint ventures are eliminated to
 the extent of the Company&amp;#x2019;s interest in the associate or
 joint venture. Investments in associates or joint ventures are
 included in other invested assets on the Company&amp;#x2019;s
 Consolidated Statements of Financial Position.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(e) Invested assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Invested assets that are considered financial instruments are
 classified as fair value through profit or loss
 (&amp;#x201C;FVTPL&amp;#x201D;), loans and receivables, or
 as&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;available-for-sale&lt;/font&gt;&lt;/font&gt;&amp;#xA0;(&amp;#x201C;AFS&amp;#x201D;)
 financial assets. The Company determines the classification of its
 financial assets at initial recognition. Invested assets are
 recognized initially at fair value plus, in the case of investments
 not at FVTPL, directly attributable transaction costs. Invested
 assets are classified as financial instruments at FVTPL if they are
 held for trading, if they are designated by management under the
 fair value option, or if they are designated by management when
 they include one or more embedded derivatives. Invested assets
 classified as AFS are&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-derivative&lt;/font&gt;&amp;#xA0;financial
 assets that do not fall into any of the other categories described
 above.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Valuation methods for the Company&amp;#x2019;s invested assets are
 described above. All fair value valuations are performed in
 accordance with IFRS 13 &amp;#x201C;Fair Value Measurement&amp;#x201D;.
 Disclosure of financial instruments carried at fair value with the
 three levels of the fair value hierarchy and the disclosure of the
 fair value for financial instruments not carried at fair value on
 the Consolidated Statements of Financial Position are presented in
 note 3. Fair value valuations are performed by the Company and by
 third-party service providers. When third-party service providers
 are engaged, the Company performs a variety of procedures to
 corroborate pricing information. These procedures may include, but
 are not limited to, inquiry and review of valuation techniques,
 inputs to the valuation and vendor controls reports.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Cash and short-term securities comprise of cash, current operating
 accounts, overnight bank and term deposits, and fixed income
 securities held for meeting short-term cash commitments. Short-term
 securities are carried at fair value. Short-term securities are
 comprised of investments due to mature within one year of the date
 of purchase. Commercial paper and discount notes are classified as
 Level&amp;#xA0;2 because these securities are typically not actively
 traded. Net payments in transit and overdraft bank balances are
 included in other liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Debt securities are carried at fair value. Debt securities are
 generally valued by independent pricing vendors using proprietary
 pricing models incorporating current market inputs for similar
 instruments with comparable terms and credit quality (matrix
 pricing). The significant inputs include, but are not limited to,
 yield curves, credit risks and spreads, measures of volatility and
 prepayment rates. These debt securities are classified as
 Level&amp;#xA0;2 but can be Level&amp;#xA0;3 if significant inputs are
 market unobservable. Realized gains and losses on sale of debt
 securities and unrealized gains and losses on debt securities
 designated as FVTPL are recognized in investment income
 immediately. Unrealized gains and losses on AFS debt securities are
 recorded in OCI, except for unrealized gains and losses on foreign
 currency translation which are included in income. Impairment
 losses on AFS debt securities are recognized in income on an
 individual security basis when there is objective evidence of
 impairment. Impairment is considered to have occurred, based on
 management&amp;#x2019;s judgment, when it is deemed probable that the
 Company will not be able to collect all amounts due according to
 the debt security&amp;#x2019;s contractual terms.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Equities are comprised of common and preferred equities and are
 carried at fair value. Equities are generally classified as
 Level&amp;#xA0;1, as fair values are normally based on quoted market
 prices. Realized gains and losses on sale of equities and
 unrealized gains and losses on equities designated as FVTPL are
 recognized in investment income immediately. Unrealized gains and
 losses on AFS equities are recorded in OCI. Impairment losses on
 AFS equities are recognized in income on an individual security
 basis when there is objective evidence of impairment. Impairment is
 considered to have occurred when fair value has declined below cost
 by a significant amount or for a prolonged period of time. Judgment
 is applied in determining whether the decline is significant or
 prolonged.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Mortgages are carried at amortized cost and are classified as
 Level&amp;#xA0;3 for fair value purposes due to the lack of market
 observability of certain significant valuation inputs. Realized
 gains and losses are recorded in investment income immediately.
 Impairment losses are recorded on mortgages when there is no longer
 reasonable assurance as to the timely collection of the full amount
 of principal and interest and are measured based on the discounted
 value of expected future cash flows at the original effective
 interest rates inherent in the mortgage. Expected future cash flows
 of impaired mortgages are typically determined with reference to
 the fair value of collateral security underlying the mortgage, net
 of expected costs of realization and any applicable insurance
 recoveries. Significant judgment is applied in the determination of
 impairment including the timing and amount of future
 collections.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company accounts for insured and uninsured mortgage
 securitizations as secured financing transactions since the
 criteria for sale accounting are not met. For these transactions,
 the Company continues to recognize the mortgages and records a
 liability in other liabilities for the amounts owed at maturity.
 Interest income from these mortgages and interest expense on the
 borrowings are recorded using the effective interest rate
 method.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Private placements, which include corporate loans for which there
 is no active market, are carried at amortized cost and are
 generally classified as Level&amp;#xA0;2 for fair value disclosure
 purposes or as Level&amp;#xA0;3 if significant inputs are market
 unobservable. Realized gains and losses are recorded in income
 immediately. Impairment losses are recorded on private placements
 when there is no longer assurance as to the timely collection of
 the full amount of principal and interest. Impairment is measured
 based on the discounted value of expected future cash flows at the
 original effective interest rate inherent in the loan. Significant
 judgment is applied in the determination of impairment including
 the timing and amount of future collections.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Policy loans are carried at an amount equal to their unpaid
 balances and are classified as Level&amp;#xA0;2 for fair value
 disclosure purposes. Policy loans are fully collateralized by the
 cash surrender value of the underlying policies.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Loans to Manulife Bank of Canada (&amp;#x201C;Manulife Bank&amp;#x201D; or
 &amp;#x201C;Bank&amp;#x201D;) clients are carried at amortized cost, and are
 classified as Level&amp;#xA0;2 for fair value disclosure purposes. A
 loan to a Bank client is considered impaired when there is
 objective evidence of impairment because of one or more loss events
 that have occurred after initial recognition, with a negative
 impact on the estimated future cash flows of the loan.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Once established, allowances for impairment of mortgages, private
 placements and loans to Bank clients are reversed only if the
 conditions that caused the impairment no longer exist. Reversals of
 impairment charges on AFS debt securities are only recognized in
 income to the extent that increases in fair value can be attributed
 to events after the impairment loss being recorded. Impairment
 losses for AFS equity instruments are not reversed through income.
 On disposition of an impaired asset, any allowance for impairment
 is released.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In addition to impairments and provisions for loan losses
 (recoveries) reported in investment income, the measurement of
 insurance contract liabilities, via investment return assumptions,
 includes expected future credit losses on fixed income investments.
 Refer to note 7(d).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Interest income is recognized on debt securities, mortgages,
 private placements, policy loans and loans to Bank clients as it
 accrues and is calculated using the effective interest rate method.
 Premiums, discounts and transaction costs are amortized over the
 life of the underlying investment using the effective yield method
 for all debt securities as well as mortgages and private placements
 measured at amortized cost.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company records purchases and sales of invested assets on a
 trade date basis, except for loans originated by the Company, which
 are recognized on a settlement date basis.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Real estate consists of both own use and investment property. Own
 use property is carried at cost less accumulated depreciation and
 any accumulated impairment losses. Depreciation is calculated based
 on the cost of an asset less its residual value and is recognized
 in income on a straight-line basis over the estimated useful life
 ranging from 30 to 60 years. Impairment losses are recorded in
 income to the extent the recoverable amount is less than the
 carrying amount. Where own use property is included in assets
 backing insurance contract liabilities, the fair value of the
 property is used in the valuation of insurance contract
 liabilities. Own use property is classified as Level&amp;#xA0;3 for
 fair value disclosure purposes.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 An investment property is a property held to earn rental income,
 for capital appreciation, or both. Investment properties are
 measured at fair value, with changes in fair value recognized in
 income. Fair value is determined using external appraisals that are
 based on the highest and best use of the property. The valuation
 techniques used include discounted cash flows, the direct
 capitalization method as well as comparable sales analysis and
 include both observable and unobservable inputs. Inputs include
 existing and assumed tenancies, market data from recent comparable
 transactions, future economic outlook and market risk assumptions,
 capitalization rates and internal rates of return. Investment
 properties are classified as Level&amp;#xA0;3 for fair value disclosure
 purposes.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 When a property changes from own use to investment property, any
 gain arising on the remeasurement of the property to fair value at
 the date of transfer is recognized in OCI, to the extent that it is
 not reversing a previous impairment loss. Reversals of impairment
 losses are recognized in income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Other invested assets include private equity and property
 investments held in power and infrastructure and timber, as well as
 in agriculture and oil and gas sectors. Private equity investments
 are accounted for as associates using the equity method (as
 described in note 1(d) above) or are classified as FVTPL or AFS and
 carried at fair value. Investments in oil and gas exploration and
 evaluation activities are measured on the cost basis using the
 &amp;#x201C;successful efforts&amp;#x201D; method. Timber and agriculture
 properties are measured at fair value with changes in fair value
 recognized in income, except for buildings, equipment and bearer
 plants which are measured at amortized cost. The fair value of
 other invested assets is determined using a variety of valuation
 techniques as described in note 3. Other invested assets that are
 measured or disclosed at fair value are classified as
 Level&amp;#xA0;3.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Other invested assets also include investments in leveraged leases,
 which are accounted for using the equity method. The carrying value
 under the equity method reflects the amortized cost of the lease
 receivable and related&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-recourse&lt;/font&gt;&amp;#xA0;debt
 using the effective yield method.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(f) Goodwill and intangible
 assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Goodwill represents the difference between the purchase
 consideration of an acquired business and the Company&amp;#x2019;s
 proportionate share of the net identifiable assets acquired. It is
 initially recorded at cost and subsequently measured at cost less
 any accumulated impairment.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Goodwill is tested for impairment at least annually and whenever
 events or changes in circumstances indicate that the carrying
 amounts may not be recoverable at the cash generating unit
 (&amp;#x201C;CGU&amp;#x201D;) or group of CGUs level. The Company allocates
 goodwill to CGUs or groups of CGUs for impairment testing based on
 the lowest level within the entity in which the goodwill is
 monitored for internal management purposes. The allocation is made
 to those CGUs or groups of CGUs that are expected to benefit from
 the business combination in which the goodwill arose. Any potential
 impairment of goodwill is identified by comparing the recoverable
 amount of a CGU or group of CGUs to its carrying value. Goodwill is
 reduced by the amount of deficiency, if any. If the deficiency
 exceeds the carrying amount of goodwill, the carrying values of the
 remaining assets in the CGU or group of CGUs are subject to being
 reduced by the excess on a&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pro-rata&lt;/font&gt;&amp;#xA0;basis.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The recoverable amount of a CGU is the higher of the estimated fair
 value less costs to sell or the&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;value-in-use&lt;/font&gt;&lt;/font&gt;&amp;#xA0;of
 the CGU. In assessing&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;value-in-use,&lt;/font&gt;&lt;/font&gt;&amp;#xA0;estimated
 future cash flows are discounted using
 a&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pre-tax&lt;/font&gt;&amp;#xA0;discount
 rate that reflects current market assessments of the time value of
 money and the risks specific to the asset. In some cases, the most
 recent detailed calculation made in a prior period of the
 recoverable amount of a CGU is used in the testing of impairment of
 goodwill in the current period. This is the case only if there are
 no significant changes to the CGU, the likelihood of impairment is
 remote based on the analysis of current events and circumstances,
 and the most recent recoverable amount substantially exceeds the
 carrying amount of the CGU.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Intangible assets with indefinite useful lives include the John
 Hancock brand name and certain investment management contracts. The
 indefinite useful life assessment for brand is based on the brand
 name being protected in markets where branded products are sold by
 trademarks, which are renewable indefinitely, and for certain
 investment management contracts due to the ability to renew these
 contracts indefinitely. In addition, there are no legal, regulatory
 or contractual provisions that limit the useful lives of these
 intangible assets. An intangible asset with an indefinite useful
 life is not amortized but is subject to an annual impairment test
 which is performed more frequently if there is an indication that
 it is not recoverable.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Intangible assets with finite useful lives include acquired
 distribution networks, customer relationships, capitalized
 software, certain investment management contracts and other
 contractual rights. Distribution networks, customer relationships,
 and other finite life intangible assets are amortized over their
 estimated useful lives, six to 68 years, either based on
 straight-line or in relation to other asset consumption metrics.
 Software intangible assets are amortized on a straight-line basis
 over their estimated useful lives of three to five years. Finite
 life intangible assets are assessed for indicators of impairment at
 each reporting period. If any indication of impairment exists,
 these assets are subject to an impairment test.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(g) Miscellaneous assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Miscellaneous assets include assets held in a rabbi trust with
 respect to unfunded defined benefit obligations, defined benefit
 assets, if any (refer to note 1(o)), deferred acquisition costs and
 capital assets. Deferred acquisition costs are carried at cost less
 accumulated amortization. These costs are recognized over the
 period where redemption fees may be charged or over the period
 revenue is earned. Capital assets are carried at cost less
 accumulated amortization computed on a straight-line basis over
 their estimated useful lives, which vary from two to 10 years.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(h) Segregated funds&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company manages several segregated funds on behalf of
 policyholders. The investment returns on these funds are passed
 directly to policyholders. In some cases, the Company has provided
 guarantees associated with these funds.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Segregated funds net assets are measured at fair value and
 primarily include investments in mutual funds, debt securities,
 equities, cash, short-term investments and other investments. With
 respect to the consolidation requirement of IFRS, in assessing the
 Company&amp;#x2019;s degree of control over the underlying investments,
 the Company considers the scope of its decision-making rights, the
 rights held by other parties, its remuneration as an investment
 manager and its exposure to variability of returns. The Company has
 determined that it does not have control over the underlying
 investments as it acts as an agent on behalf of segregated fund
 policyholders.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The methodology applied to determine the fair value of investments
 held in segregated funds is consistent with that applied to
 invested assets held by the general fund, as described above in
 note 1(e). Segregated funds liabilities are measured based on the
 value of the segregated funds net assets. Investment returns on
 segregated funds assets belong to policyholders and the Company
 does not bear the risk associated with these assets outside of
 guarantees offered on certain variable life and annuity products,
 for which the underlying investments are held within segregated
 funds. Accordingly, investment income earned by segregated funds
 and expenses incurred by segregated funds are offset and are not
 separately presented in the Consolidated Statements of Income. Fee
 income earned by the Company for managing the segregated funds is
 included in other revenue.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Liabilities related to guarantees associated with certain
 segregated funds, as a result of certain variable life and annuity
 contracts, are recorded within the Company&amp;#x2019;s insurance
 contract liabilities. The Company holds assets supporting these
 guarantees which are recognized in invested assets according to
 their investment type.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(i) Insurance and investment contract
 liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Most contracts issued by the Company are considered insurance,
 investment or service contracts. Contracts under which the Company
 accepts significant insurance risk from a policyholder are
 classified as insurance contracts in the Consolidated Financial
 Statements. A contract is considered to have significant insurance
 risk if, and only if, an insured event could cause an insurer to
 make significant additional payments in any scenario, excluding
 scenarios that lack commercial substance at the inception of the
 contract. Contracts under which the Company does not accept
 significant insurance risk are either classified as investment
 contracts or considered service contracts and are accounted for in
 accordance with IAS 39&lt;i&gt;&amp;#xA0;&amp;#x201C;&lt;/i&gt;Financial
 Instruments: Recognition and
 Measurement&lt;i&gt;&amp;#x201D;&lt;/i&gt;&amp;#xA0;or IFRS 15
 &amp;#x201C;Revenue from Contracts with customers&amp;#x201D;,
 respectively.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Once a contract has been classified as an insurance contract it
 remains an insurance contract even if the insurance risk reduces
 significantly. Investment contracts can be reclassified as
 insurance contracts if insurance risk subsequently becomes
 significant.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Insurance contract liabilities, net of reinsurance assets,
 represent the amount which, together with estimated future premiums
 and net investment income, will be sufficient to pay estimated
 future benefits, policyholder dividends and refunds, taxes (other
 than income taxes) and expenses on
 policies&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force.&lt;/font&gt;&amp;#xA0;Insurance
 contract liabilities are presented gross of reinsurance assets on
 the Consolidated Statements of Financial Position. The
 Company&amp;#x2019;s Appointed Actuary is responsible for determining
 the amount of insurance contract liabilities in accordance with
 standards established by the Canadian Institute of Actuaries.
 Insurance contract liabilities, net of reinsurance assets, have
 been determined using the Canadian Asset Liability Method
 (&amp;#x201C;CALM&amp;#x201D;) as permitted by IFRS 4 &amp;#x201C;Insurance
 Contracts&amp;#x201D;. Refer to note 7.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Investment contract liabilities include contracts issued to retail
 and institutional investors that do not contain significant
 insurance risk. Investment contract liabilities and deposits are
 measured at amortized cost or at fair value by election. The
 election reduces accounting mismatches between assets supporting
 these contracts and the related policy liabilities. Investment
 contract liabilities are derecognized when the contract expires, is
 discharged or is cancelled.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Derivatives embedded within insurance contracts are separated if
 they are not considered to be closely related to the host insurance
 contract and do not meet the definition of an insurance contract.
 These embedded derivatives are presented separately in other assets
 or other liabilities and are measured at fair value with changes in
 fair value recognized in income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(j) Reinsurance assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company uses reinsurance in the normal course of business to
 manage its risk exposure. Insurance ceded to a reinsurer does not
 relieve the Company from its obligations to policyholders. The
 Company remains liable to its policyholders for the portion
 reinsured to the extent that any reinsurer does not meet its
 obligations for reinsurance ceded to it under a reinsurance
 agreement.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Reinsurance assets represent the benefit derived from reinsurance
 agreements&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;at the
 reporting date, considering the financial condition of the
 reinsurer. Amounts recoverable from reinsurers are estimated in
 accordance with the terms of the relevant reinsurance contract.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Gains or losses on reinsurance transactions are recognized in
 income immediately on the transaction date and are not amortized.
 Premiums ceded and claims reimbursed are presented on a gross basis
 on the Consolidated Statements of Income. Reinsurance assets are
 not offset against the related insurance contract liabilities and
 are presented separately on the Consolidated Statements of
 Financial Position. Refer to note 7(a).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(k) Other financial instruments accounted
 for as liabilities&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company issues a variety of other financial instruments
 classified as liabilities, including notes payable, term notes,
 senior notes, senior debentures, subordinated notes, surplus notes,
 subscription receipts and preferred shares. These financial
 liabilities are measured at amortized cost, with issuance costs
 deferred and amortized using the effective interest rate
 method.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(l) Income taxes&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The provision for income taxes is calculated based on income tax
 laws and income tax rates substantively enacted as at the date of
 the Consolidated Statements of Financial Position. The income tax
 provision is comprised of current income taxes and deferred income
 taxes. Current and deferred income taxes relating to items
 recognized in OCI and directly in equity are similarly recognized
 in OCI and directly in equity, respectively.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Current income taxes are amounts expected to be payable or
 recoverable for the current year and any adjustments to taxes
 payable in respect of previous years.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Deferred income taxes are provided for using the liability method
 and result from temporary differences between the carrying values
 of assets and liabilities and their respective tax bases. Deferred
 income taxes are measured at the substantively enacted tax rates
 that are expected to be applied to temporary differences when they
 reverse.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 A deferred tax asset is recognized to the extent that future
 realization of the tax benefit is probable. Deferred tax assets are
 reviewed at each reporting date and are reduced to the extent that
 it is no longer probable that the tax benefit will be realized.
 Deferred tax assets and liabilities are offset if there is a
 legally enforceable right to offset current tax liabilities and
 assets and they relate to income taxes levied by the same tax
 authority on the same taxable entity.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Deferred tax liabilities are recognized for all taxable temporary
 differences, except in respect of taxable temporary differences
 associated with investments in subsidiaries, associates and joint
 ventures, where the timing of the reversal of the temporary
 differences can be controlled and it is probable that the temporary
 differences will not reverse in the foreseeable future.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company records provisions for uncertain tax positions if it is
 probable that the Company will make a payment on tax positions due
 to examinations by tax authorities. These provisions are measured
 at the Company&amp;#x2019;s best estimate of the amount expected to be
 paid. Provisions are reversed to income in the period in which
 management assesses they are no longer required or determined by
 statute.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company is subject to income tax laws in various jurisdictions.
 Tax laws are complex and potentially subject to different
 interpretations by the taxpayer and the relevant tax authority. The
 provision for income taxes and deferred income taxes represents
 management&amp;#x2019;s interpretation of the relevant tax laws and its
 estimate of current and future income tax implications of the
 transactions and events during the year. The Company may be
 required to change its provision for income taxes or deferred
 income tax balances when the ultimate deductibility of certain
 items is successfully challenged by taxing authorities, or if
 estimates used in determining the amount of deferred tax asset to
 recognize change significantly, or when receipt of new information
 indicates the need for adjustment in the amount of deferred income
 taxes to be recognized. Additionally, future events, such as
 changes in tax laws, tax regulations, or interpretations of such
 laws or regulations, could have an impact on the provision for
 income taxes, deferred tax balances and the effective tax rate. Any
 such changes could materially affect the amounts reported in the
 Consolidated Financial Statements in the period these changes
 occur.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(m) Foreign currency
 translation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Items included in the financial statements of each of the
 Company&amp;#x2019;s subsidiaries are measured by each subsidiary using
 the currency of the primary economic environment in which the
 entity operates (the &amp;#x201C;functional currency&amp;#x201D;).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Transactions in a foreign currency are translated to the functional
 currency at the exchange rate prevailing at the date of the
 transaction. Assets and liabilities denominated in foreign
 currencies are translated to the functional currency at the
 exchange rate in effect at the reporting date. Revenue and expenses
 denominated in foreign currencies are translated at the average
 exchange rate prevailing during the quarter reported. Exchange
 gains and losses are recognized in income except for translation of
 net investments in foreign operations and the results of hedging
 these positions. These foreign exchange gains and losses are
 recognized in OCI until such time that the foreign operation is
 disposed of or control or significant influence over it is
 lost.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(n) Stock-based
 compensation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company provides stock-based compensation to certain employees
 and directors as described in note 15. Compensation expense of
 equity instruments is accrued based on the best estimate of the
 number of instruments expected to vest, with revisions made to that
 estimate if subsequent information indicates that actual
 forfeitures are likely to differ from initial estimates, unless
 forfeitures are due to market-based conditions.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Stock options are expensed with a corresponding increase in
 contributed surplus. Restricted share units and deferred share
 units are expensed with a corresponding liability accrued based on
 the market value of MFC&amp;#x2019;s common shares at the end of each
 quarter. Performance share units are expensed with a corresponding
 liability accrued based on specific performance conditions and the
 market value of MFC&amp;#x2019;s common shares at the end of each
 quarter. The change in the value of the awards resulting from
 changes in the market value of MFC&amp;#x2019;s common shares or changes
 in the specific performance conditions and credited dividends is
 recognized in income, offset by the impact of total return swaps
 used to manage the variability of the related liability.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Stock-based compensation cost is recognized over the applicable
 vesting period, except if the employee is eligible to retire at the
 time of grant or will be eligible to retire during the vesting
 period. Compensation cost, attributable to stock options,
 restricted share units, and performance share units granted to
 employees who are eligible to retire on the grant date or who will
 become eligible to retire during the vesting period, is recognized
 at the grant date or over the period from the grant date to the
 date of retirement eligibility, respectively.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s contributions to the Global Share Ownership
 Plan (&amp;#x201C;GSOP&amp;#x201D;) (refer to note 15(d)), are expensed as
 incurred. Under the GSOP, subject to certain conditions, the
 Company will match a percentage of an employee&amp;#x2019;s eligible
 contributions to certain maximums. All contributions are used by
 the plan&amp;#x2019;s trustee to purchase MFC common shares in the open
 market.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(o) Employee future
 benefits&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company maintains defined contribution and defined benefit
 pension plans and other post-employment plans for employees and
 agents including registered (tax qualified) pension plans that are
 typically funded as well as
 supplemental&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-registered&lt;/font&gt;&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;(non-qualified)&lt;/font&gt;&amp;#xA0;pension
 plans for executives, retiree and disability welfare plans that are
 typically not funded.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s obligation in respect of defined benefit
 pension and other post-employment benefits is calculated for each
 plan as the estimated present value of future benefits that
 eligible employees have earned in return for their service up to
 the reporting date using the projected benefit method. The discount
 rate used is based on the yield, as at the reporting date, of high
 quality corporate debt securities that have approximately the same
 term as the obligations and that are denominated in the same
 currency in which the benefits are expected to be paid.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 To determine the Company&amp;#x2019;s net defined benefit asset or
 liability, the fair value of plan assets is deducted from the
 defined benefit obligations. When this calculation results in a
 surplus, the asset that can be recognized is limited to the present
 value of future economic benefit available in the form of future
 refunds from the plan or reductions in future contributions to the
 plan (the asset limit). Defined benefit assets are included in
 other assets and defined benefit liabilities are included in other
 liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Changes in the net defined benefit asset or liability due
 to&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;re-measurement&lt;/font&gt;&amp;#xA0;of
 pension and retiree welfare plans are recorded in OCI in the period
 in which they occur and are not reclassified to income in
 subsequent periods. They consist of actuarial gains and losses, the
 impact of the asset limit, if any, and the return on plan assets,
 excluding amounts included in net interest income or expense.
 Changes in the net defined benefit asset or liability due
 to&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;re-measurement&lt;/font&gt;&amp;#xA0;of
 disability welfare plans are recorded in income in the period in
 which they occur.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The cost of defined benefit pension plans is recognized over the
 employee&amp;#x2019;s years of service to retirement while the cost of
 retiree welfare plans is recognized over the employee&amp;#x2019;s years
 of service to their date of full eligibility. The net benefit cost
 for the year is recorded in income and is calculated as the sum of
 the service cost in respect of the fiscal year, the net interest
 income or expense and any applicable administration expenses, plus
 past service costs or credits resulting from plan amendments or
 curtailments. The net interest income or expense is determined by
 applying the discount rate to the net defined benefit asset or
 liability. The current year cost of disability welfare plans is the
 year-over-year change in the defined benefit obligation, including
 any actuarial gains or losses.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The cost of defined contribution plans is the contribution provided
 by the Company and is recorded in income in the periods during
 which services are rendered by employees.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(p) Derivative and hedging
 instruments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company uses derivative financial instruments
 (&amp;#x201C;derivatives&amp;#x201D;) including swaps, forward and futures
 agreements, and options to manage current and anticipated exposures
 to changes in interest rates, foreign exchange rates, commodity
 prices and equity market prices, and to replicate permissible
 investments. Derivatives embedded in other financial instruments
 are separately recorded as derivatives when their economic
 characteristics and risks are not closely related to those of the
 host instrument, the terms of the embedded derivative are the same
 as those of a standalone derivative and the host instrument itself
 is not recorded at FVTPL. Derivatives are recorded at fair value.
 Derivatives with unrealized gains are reported as derivative assets
 and derivatives with unrealized losses are reported as derivative
 liabilities.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 A determination is made for each derivative as to whether to apply
 hedge accounting. Where hedge accounting is not applied, changes in
 the fair value of derivatives are recorded in investment income.
 Refer to note 3(c).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Where the Company has elected to apply hedge accounting, a hedging
 relationship is designated and documented at inception. Hedge
 effectiveness is evaluated at inception and throughout the term of
 the hedge. Hedge accounting is only applied when the Company
 expects that the hedging relationship will be highly effective in
 achieving offsetting changes in fair value or changes in cash flows
 attributable to the risk being hedged. The assessment of hedge
 effectiveness is performed at the end of each reporting period both
 prospectively and retrospectively. When it is determined that a
 hedging relationship is no longer effective, or the hedging
 instrument or the hedged item has been sold or terminated, the
 Company discontinues hedge accounting prospectively. In such cases,
 if the derivatives are not sold or terminated, any subsequent
 changes in fair value of the derivatives are recognized in
 investment income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 For derivatives that are designated as hedging instruments, changes
 in fair value are recognized according to the nature of the risks
 being hedged, as discussed below.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In a fair value hedging relationship, changes in fair value of the
 hedging instruments are recorded in investment income, offsetting
 changes in fair value of the hedged items, which would otherwise
 not be carried at fair value. Hedge ineffectiveness is recognized
 in investment income and arises from differences between changes in
 the fair values of hedging instruments and hedged items. When hedge
 accounting is discontinued, the carrying value of the hedged item
 is no longer adjusted and the cumulative fair value adjustments are
 amortized to investment income over the remaining term of the
 hedged item unless the hedged item is sold, at which time the
 balance is recognized immediately in investment income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In a cash flow hedging relationship, the effective portion of the
 change in the fair value of the hedging instrument is recorded in
 OCI while the ineffective portion is recognized in investment
 income. Gains and losses in accumulated other comprehensive income
 (AOCI) are recognized in income during the same periods as the
 variability in the hedged cash flows or the hedged forecasted
 transactions are recognized in income. The reclassifications from
 AOCI are made to investment income, except for total return swaps
 that hedge restricted share units, which are reclassified to
 general expenses.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Gains and losses on cash flow hedges in AOCI are reclassified
 immediately to investment income when the hedged item is sold or
 the forecasted transaction is no longer expected to occur. When a
 hedge is discontinued, but the hedged forecasted transaction
 remains highly probable to occur, the amounts in AOCI are
 reclassified to investment income in the periods during which
 variability in the cash flows hedged or the hedged forecasted
 transaction is recognized in income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 In a net investment in foreign operations hedging relationship,
 gains and losses relating to the effective portion of the hedge are
 recorded in OCI. Gains and losses in AOCI are recognized in income
 during the periods when gains or losses on the underlying hedged
 net investment in foreign operations are recognized in income.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(q) Premium income and related
 expenses&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Gross premiums for all types of insurance contracts, and contracts
 with limited mortality or morbidity risk, are generally recognized
 as revenue when due. Premiums are reported gross of reinsurance
 ceded (refer to note 7).&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(r) Revenue from service
 contracts&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company recognizes revenue from service contracts in accordance
 with IFRS 15.&amp;#xA0;The Company&amp;#x2019;s service contracts generally
 impose single performance obligations, each consisting of a series
 of similar related services for each customer.&amp;#xA0;Revenue is
 recorded as performance obligations are satisfied over time because
 the customers simultaneously receive and consume the benefits of
 the services rendered, measured using an output method. Revenue for
 variable consideration is recognized to the extent that it is
 highly probable that a significant reversal in the amount of
 cumulative revenue recognized will not occur when the uncertainty
 is subsequently resolved.&amp;#xA0;Refer to Note 14.&lt;/p&gt;
 &lt;/div&gt;</mfc:DisclosureOfNatureOfOperationsAndSignificantAccountingPoliciesTextBlock>
  <mfc:DisclosureOfCondensedConsolidatedStatementsOfIncomeInformationForMFCAndMFLPExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_4D070C04-DD19-47AB-90AD-13681EBF1BEA_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statements of
 Income Information&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="75%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;MLI&lt;br /&gt;
 consolidated&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;Other&lt;br /&gt;
 subsidiaries of&lt;br /&gt;
 MFC on a&lt;br /&gt;
 combined&amp;#xA0;basis&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;Total&lt;br /&gt;
 consolidated&lt;br /&gt;
 amounts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right"&gt;MFLP&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;443&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;38,994&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;434&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(899)&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;38,972&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;62&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss) attributed to shareholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,076&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(419&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(4,657)&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;22&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="13"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;MLI&lt;br /&gt;
 consolidated&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Other&lt;br /&gt;
 subsidiaries of&lt;br /&gt;
 MFC on a&lt;br /&gt;
 combined&amp;#xA0;basis&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;br /&gt;
 consolidated&lt;br /&gt;
 amounts&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;MFLP&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total revenue&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;182&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;58,445&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;270&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(574&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;58,323&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;29&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income (loss) attributed to shareholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,467&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(257&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(2,210&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,104&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;6&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfCondensedConsolidatedStatementsOfIncomeInformationForMFCAndMFLPExplanatory>
  <mfc:DisclosureOfFurtherInformationOnPreferredSharesOutstandingExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_46A42C94-011A-48F6-847C-A157FB45A155_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Additional information for the outstanding preferred shares as at
 December&amp;#xA0;31, 2018&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="38%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Issue date&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Annual&lt;br /&gt;
 dividend&lt;br /&gt;
 rate&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Earliest&amp;#xA0;redemption&lt;br /&gt;
 date&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Number of&lt;br /&gt;
 shares&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Face&lt;br /&gt;
 amount&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net&lt;br /&gt;
 amount&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" colspan="4"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;A preferred shares&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; TEXT-INDENT: 0em"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 2&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;February&amp;#xA0;18,&amp;#xA0;2005&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.65%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;350&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;344&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 3&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;January&amp;#xA0;3, 2006&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.50%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;300&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;294&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" colspan="4"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 preferred shares&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; TEXT-INDENT: 0em"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 3&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;March&amp;#xA0;11, 2011&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2.178%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;June&amp;#xA0;19, 2021&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;158&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;155&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 4&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;June&amp;#xA0;20, 2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;floating&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;42&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;41&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 5&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;December&amp;#xA0;6,&amp;#xA0;2011&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.891%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;December&amp;#xA0;19,&amp;#xA0;2021&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;200&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;195&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 7&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;February&amp;#xA0;22, 2012&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.312%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;March&amp;#xA0;19, 2022&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;250&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;244&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 9&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;May&amp;#xA0;24, 2012&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.351%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;September&amp;#xA0;19,&amp;#xA0;2022&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;250&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;244&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 11&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5),(7)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;December&amp;#xA0;4, 2012&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.731%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;March&amp;#xA0;19, 2023&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;200&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;196&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 13&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5),(8)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;June&amp;#xA0;21, 2013&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.414%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;September&amp;#xA0;19, 2023&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;200&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;196&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 15&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;February&amp;#xA0;25, 2014&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.90%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;June&amp;#xA0;19, 2019&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;200&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;195&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 17&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;August&amp;#xA0;15, 2014&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.90%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;December&amp;#xA0;19, 2019&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;350&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;343&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 19&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;December&amp;#xA0;3, 2014&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3.80%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;March&amp;#xA0;19, 2020&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;250&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;246&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 21&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;February&amp;#xA0;25, 2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5.60%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;June&amp;#xA0;19, 2021&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;425&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;417&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 23&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;November&amp;#xA0;22,&amp;#xA0;2016&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4.85%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;March&amp;#xA0;19, 2022&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;475&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;467&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Series 25&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;February&amp;#xA0;20, 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4.70%&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;June&amp;#xA0;19, 2023&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;250&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;245&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;156&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&amp;#xA0;&amp;#xA0;3,900&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;3,822&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Holders of Class&amp;#xA0;A and Class&amp;#xA0;1 preferred
 shares are entitled to receive &lt;font style="WHITE-SPACE: nowrap"&gt;non-cumulative&lt;/font&gt; preferential cash
 dividends on a quarterly basis, as and when declared by the Board
 of Directors.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Redemption of all preferred shares is subject to
 regulatory approval. MFC may redeem each series, in whole or in
 part, at par, on the earliest redemption date or every five years
 thereafter, with the exception of Class&amp;#xA0;A Series 2,
 Class&amp;#xA0;A Series 3 and Class&amp;#xA0;1 Series 4 preferred shares.
 Class&amp;#xA0;A Series 2 and Series 3 preferred shares are past their
 respective earliest redemption date and MFC may redeem these
 shares, in whole or in part, at par at any time, subject to
 regulatory approval, as noted. MFC may redeem the Class&amp;#xA0;1
 Series 4, in whole or in part, at any time, at $25.00 per share if
 redeemed on June&amp;#xA0;19, 2021 and on June&amp;#xA0;19 every five years
 thereafter, or at $25.50 per share if redeemed on any other date
 after June&amp;#xA0;19, 2016, subject to regulatory approval, as
 noted.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Net of &lt;font style="WHITE-SPACE: nowrap"&gt;after-tax&lt;/font&gt; issuance costs.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On the earliest redemption date and every five years
 thereafter, the annual dividend rate will be reset to the five-year
 Government of Canada bond yield plus a yield specified for each
 series. The specified yield for Class&amp;#xA0;1 shares is: Series 3
 &amp;#x2013; 1.41%, Series 5 &amp;#x2013; 2.90%, Series 7 &amp;#x2013; 3.13%,
 Series 9 &amp;#x2013; 2.86%, Series 11 &amp;#x2013; 2.61%,
 Series&amp;#xA0;13&amp;#xA0;&amp;#x2013;&amp;#xA0;2.22%, Series 15 &amp;#x2013; 2.16%,
 Series 17 &amp;#x2013; 2.36%, Series 19 &amp;#x2013; 2.30%, Series 21 &amp;#x2013;
 4.97%, Series 23 &amp;#x2013; 3.83% and Series 25 &amp;#x2013; 2.55%.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On the earliest redemption date and every five years
 thereafter, Class&amp;#xA0;1 preferred shares are convertible at the
 option of the holder into a new series that is one number higher
 than their existing series, and the holders are entitled to
 &lt;font style="WHITE-SPACE: nowrap"&gt;non-cumulative&lt;/font&gt;
 preferential cash dividends, payable quarterly if and when declared
 by the Board of Directors, at a rate equal to the three month
 Government of Canada Treasury bill yield plus the rate specified in
 footnote 4 above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The floating dividend rate for the Class&amp;#xA0;1 Shares
 Series 4 equals the three-month Government of Canada Treasury bill
 yield plus 1.41%.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(7)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MFC did not exercise its right to redeem all or any of
 the outstanding Class&amp;#xA0;1 Shares Series 11 on March&amp;#xA0;19,
 2018 (the earliest redemption date). Dividend rate for Class&amp;#xA0;1
 Shares Series 11 was reset as specified in footnote 4 above to an
 annual fixed rate of 4.731% for a five-year period commencing on
 March&amp;#xA0;20, 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(8)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MFC did not exercise its right to redeem all or any of
 the outstanding Class&amp;#xA0;1 Shares Series 13 on September&amp;#xA0;19,
 2018 (the earliest redemption date). Dividend rate for Class&amp;#xA0;1
 Shares Series 13 was reset as specified in footnote 4 above to an
 annual fixed rate of 4.414% for a five-year period commencing on
 September&amp;#xA0;20, 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfFurtherInformationOnPreferredSharesOutstandingExplanatory>
  <mfc:DisclosureOfNumberOfDeferredShareUnitsOutstandingExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_74BD1F28-8D93-42BF-8A18-41BD23B5F345_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="78%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Number of DSUs (in thousands)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Outstanding, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,645&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,682&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issued&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;141&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;156&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Reinvested&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;98&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;88&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Redeemed&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(346&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(279&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Forfeitures and cancellations&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(2
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Outstanding, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,538&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,645
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfNumberOfDeferredShareUnitsOutstandingExplanatory>
  <mfc:DisclosureOfMajorOperatingSubsidiariesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E902D283-DC44-491D-9DE7-8F1A009F513C_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The following is a list of Manulife&amp;#x2019;s directly and indirectly
 held major operating subsidiaries.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td width="14%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td width="34%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(100% owned unless otherwise noted in
 brackets beside company name)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;Address&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;b&gt;Description&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;The Manufacturers Life Insurance Company&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center"&gt;Toronto, Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Leading Canadian-based financial services company that offers a
 diverse range of financial protection products and wealth
 management services&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Holdings (Alberta) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Calgary, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Financial Corporation&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Wilmington,&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Delaware,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Holding company&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 The Manufacturers Investment Corporation&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Michigan, U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Reassurance Company Ltd.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center"&gt;Michigan, U.S.A.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Captive insurance subsidiary that provides life, annuity and
 long-term care reinsurance to affiliates&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Life Insurance Company (U.S.A.)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center"&gt;Michigan, U.S.A.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 U.S. life insurance company licensed in all states, except New
 York&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Subsidiaries LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center"&gt;Wilmington, Delaware,&amp;#xA0;U.S.A.&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Holding company&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Financial Network, Inc.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Financial services distribution organization&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Advisers, LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Investment advisor&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 11em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Funds, LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts, U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Broker-dealer&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (U.S.), LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Wilmington, Delaware,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Asset management company&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Hancock Natural Resource Group, Inc.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Manager of globally diversified timberland and agricultural
 portfolios&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Life Insurance Company of New York&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;New York, U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 U.S. life insurance company licensed in New York&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Investment Management Services, LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Investment advisor&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Life&amp;#xA0;&amp;amp; Health Insurance Company&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 U.S. life insurance company licensed in all states&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Distributors, LLC&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Wilmington, Delaware,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Broker-dealer&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 John Hancock Insurance Agency, Inc.&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Wilmington, Delaware,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 Insurance agency&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Reinsurance Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hamilton, Bermuda&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides life and financial reinsurance to affiliates&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Reinsurance (Bermuda) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hamilton, Bermuda&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides life and annuity reinsurance to affiliates&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Bank of Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center"&gt;Waterloo, Canada&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides integrated banking products and service options not
 available from an insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management Holdings (Canada), Inc.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides investment counseling, portfolio and mutual fund
 management in Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 First North American Insurance Company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Property and casualty insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 NAL Resources Management Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Calgary, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Management company for oil and gas properties&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Resources Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Calgary, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holds oil and gas properties&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Property Limited Partnership&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holds oil and gas royalties&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Property Limited Partnership II&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holds oil and gas royalties and foreign bonds and equities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Western Holdings Limited Partnership&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Calgary, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holds oil and gas properties&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Securities Investment Services, Inc.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Oakville, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Mutual fund dealer for Canadian operations&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Holdings (Bermuda) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hamilton, Bermuda&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manufacturers P&amp;amp;C Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;St. Michael, Barbados&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides property and casualty reinsurance&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Financial Asia Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hong Kong, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife (Cambodia) PLC&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Phnom Penh, Cambodia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manufacturers Life Reinsurance Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;St. Michael, Barbados&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Provides life and annuity reinsurance to affiliates&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife (Vietnam) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Ho Chi Minh City, Vietnam&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Vietnam) Company Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Ho Chi Minh City, Vietnam&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Fund management company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife International Holdings Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hong Kong, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife (International) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hong Kong, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife-Sinochem Life Insurance Co. Ltd. (51%)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Shanghai, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management International Holdings Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hong Kong, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Hong Kong) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hong Kong, China&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment management and advisory company marketing mutual
 funds&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Taiwan) Co., Ltd.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Taipei, Taiwan (China)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Asset management company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Life Insurance Company (Japan)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Tokyo, Japan&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Japan) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Tokyo, Japan&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment management and advisory company and mutual fund
 business&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Insurance (Thailand) Public Company Limited
 (85.8%)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Bangkok, Thailand&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Thailand) Company Limited
 (92.7%)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Bangkok, Thailand&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment management company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Holdings Berhad (59.5%)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Kuala Lumpur, Malaysia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Insurance Berhad (59.5%)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Kuala Lumpur, Malaysia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management Services Berhad (59.5%)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Kuala Lumpur, Malaysia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Asset management company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife (Singapore) Pte. Ltd.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Singapore&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Singapore) Pte. Ltd.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Singapore&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Asset management company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 The Manufacturers Life Insurance Co. (Phils.), Inc.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Makati City, Philippines&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Chinabank Life Assurance Corporation (60%)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Makati City, Philippines&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 PT Asuransi Jiwa Manulife Indonesia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Jakarta, Indonesia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 PT Manulife Aset Manajemen Indonesia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Jakarta, Indonesia&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment management company marketing mutual funds and
 discretionary funds&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (Europe) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;London, England&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment management company for Manulife Financial&amp;#x2019;s
 international funds&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Assurance Company of Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Life insurance company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 EIS Services (Bermuda) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Hamilton, Bermuda&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Berkshire Insurance Services Inc.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 JH Investments (Delaware), LLC&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Boston, Massachusetts,&amp;#xA0;U.S.A.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment holding company&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Securities Incorporated&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Oakville, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment dealer&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Manulife Asset Management (North America) Limited&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Toronto, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Investment advisor&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Regional Power Inc.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Mississauga, Canada&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Developer and operator of hydro-electric power projects&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;MFC voting rights percentages are the same as the
 ownership percentages except for Manulife Insurance (Thailand)
 Public Company Limited and Manulife Asset Management (Thailand)
 Company Limited where MFC&amp;#x2019;s voting rights are 93.0% and
 96.4%, respectively.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;


 &lt;/div&gt;</mfc:DisclosureOfMajorOperatingSubsidiariesExplanatory>
  <mfc:DisclosureOfIncomeTaxExpenseExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_30899EF5-418E-48B3-8338-3BF5A696A181_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Income tax expenses (recovery) recognized in the Consolidated
 Statements of Income&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Current tax&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Current year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(327&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;608&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Adjustments to prior year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;29&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(38&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(298&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;570&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Deferred tax&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Change related to temporary differences&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(803&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of U.S. Tax Reform&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(320&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;472&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income tax expense&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;632&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;239&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Income tax expenses (recovery) recognized in Other Comprehensive
 Income&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="82%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Current income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;2&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;116&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deferred income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(148&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;320&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income tax expense (recovery)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(146&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;436&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 Income tax expenses (recovery) recognized directly in Equity&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Current income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Deferred income tax expense (recovery)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income tax expense (recovery)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfIncomeTaxExpenseExplanatory>
  <mfc:DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_E00F4B27-820A-4FE0-8EB8-FCABCEFF6DD5_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Asset
 Liability Management Strategy&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;Our asset liability management
 strategy is designed to help ensure that the market risks embedded
 in our assets and liabilities held in the Company&amp;#x2019;s general
 fund are effectively managed and that risk exposures arising from
 these assets and liabilities are maintained within risk limits. The
 embedded market risks include risks related to the level and
 movement of interest rates and credit and swap spreads, public
 equity market performance, ALDA performance and foreign exchange
 rate movements.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;General fund product liabilities
 are categorized into groups with similar characteristics in order
 to support them with a specific asset strategy. We seek to align
 the asset strategy for each group to the premium and benefit
 pattern, policyholder options and guarantees, and crediting rate
 strategies of the products they support. Similar strategies are
 established for assets in the Company&amp;#x2019;s surplus account. The
 strategies are set using portfolio analysis techniques intended to
 optimize returns, subject to considerations related to regulatory
 and economic capital requirements, and risk tolerances. They are
 designed to achieve broad diversification across asset classes and
 individual investment risks while being suitably aligned with the
 liabilities they support. The strategies encompass asset mix,
 quality rating, term profile, liquidity, currency and industry
 concentration targets.&lt;/font&gt;&lt;/p&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory>
  <mfc:DescriptionOfAccountingPolicyForForeignExchangeRiskManagementStrategyExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_22F288BB-130D-4341-B2AF-6AF9F4ABCD60_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Foreign
 Exchange Risk Management Strategy&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;Our policy is to generally match
 the currency of our assets with the currency of the liabilities
 they support. Where assets and liabilities are not currency
 matched, we seek to hedge this exposure where appropriate to
 stabilize our capital positions and remain within our enterprise
 foreign exchange risk limits through the use of financial
 instruments such as derivatives.&lt;/font&gt;&lt;/p&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForForeignExchangeRiskManagementStrategyExplanatory>
  <mfc:DescriptionOfAccountingPolicyForMarketRiskSensitivitiesAndMarketRiskExposureMeasuresExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_4B5F05E0-09F9-4B58-8C04-8A5A7B9FD001_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#2A517F"&gt;&lt;b&gt;Market
 Risk Sensitivities and Market Risk Exposure
 Measures&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Variable
 Annuity and Segregated Fund Guarantees Sensitivities and Risk
 Exposure Measures&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;Guarantees on variable annuity
 products and segregated funds may include one or more of death,
 maturity, income and withdrawal guarantees. Variable annuity and
 segregated fund guarantees are contingent and only payable upon the
 occurrence of the relevant event, if fund values at that time are
 below guaranteed values. Depending on future equity market levels,
 liabilities on current &lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt; business would be due
 primarily in the period from 2019 to 2039.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;We seek to mitigate a portion of
 the risks embedded in our retained (i.e. net of reinsurance)
 variable annuity and segregated fund guarantee business through the
 combination of our dynamic and macro hedging strategies (see
 &amp;#x201C;Publicly Traded Equity Performance Risk&amp;#x201D;
 below).&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;The table below shows selected
 information regarding the Company&amp;#x2019;s variable annuity and
 segregated fund investment-related guarantees gross and net of
 reinsurance.&lt;/font&gt;&lt;/p&gt;
 &lt;/div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Variable
 annuity and segregated fund guarantees, net of
 reinsurance&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="98%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="51%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" rowspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Guarantee&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Fund&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Amount&amp;#xA0;at&lt;br /&gt;
 risk&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right"&gt;Guarantee&lt;br /&gt;
 value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right"&gt;Fund&amp;#xA0;value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right"&gt;Amount&lt;br /&gt;
 at&amp;#xA0;risk&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Guaranteed minimum income benefit&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,264&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,675&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,593&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,195&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,074&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Guaranteed minimum withdrawal benefit&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;60,494&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;49,214&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,388&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;61,767&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;56,512&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;5,943&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Guaranteed minimum accumulation benefit&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18,611&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;18,720&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;141&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;18,162&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;18,705&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;11&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross living benefits&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;84,369&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;71,609&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,122&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;85,130&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;79,412&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,028&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Gross death benefits&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,663&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14,654&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,567&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;10,743&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;16,973&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;1,001&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total gross of reinsurance&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;95,032&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;86,263&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;14,689&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;95,873&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;96,385&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;8,029&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Living benefits reinsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,515&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,173&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,343&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,522&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,667&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;911&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Death benefits reinsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,353&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,070&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;493&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;3,014&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;3,040&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;435&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total reinsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,868&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,243&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,836&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;7,536&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;6,707&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right"&gt;1,346&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total, net of reinsurance&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;88,164&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;81,020&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,853&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;88,337&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;89,678&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;6,683&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Contracts with guaranteed long-term care benefits are
 included in this category.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Where a policy includes both living and death
 benefits, the guarantee in excess of the living benefit is included
 in the death benefit category as outlined in footnote 3.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Death benefits include stand-alone guarantees and
 guarantees in excess of living benefit guarantees where both death
 and living benefits are provided on a policy.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Amount at risk &lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;(in-the-money&lt;/font&gt;&lt;/font&gt; amount) is the
 excess of guarantee values over fund values on all policies where
 the guarantee value exceeds the fund value. This amount is not
 currently payable. For guaranteed minimum death benefit, the amount
 at risk is defined as the current guaranteed minimum death benefit
 in excess of the current account balance. For guaranteed minimum
 income benefit, the amount at risk is defined as the excess of the
 current annuitization income base over the current account value.
 For all guarantees, the amount at risk is floored at zero at the
 single contract level.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The amount at risk net of reinsurance at
 December&amp;#xA0;31, 2018 was $12,853&amp;#xA0;million (2017 &amp;#x2013;
 $6,683 million) of which: US$6,899&amp;#xA0;million (2017 &amp;#x2013;
 US$3,982 million) was on our U.S. business, $2,654&amp;#xA0;million
 (2017 &amp;#x2013; $1,342 million) was on our Canadian business,
 US$332&amp;#xA0;million (2017 &amp;#x2013; US$95 million) was on our Japan
 business and US$246&amp;#xA0;million (2017 &amp;#x2013; US$181 million) was
 related to Asia (other than Japan) and our &lt;font style="WHITE-SPACE: nowrap"&gt;run-off&lt;/font&gt; reinsurance business.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForMarketRiskSensitivitiesAndMarketRiskExposureMeasuresExplanatory>
  <mfc:DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_1BA57EC7-61A7-4508-8B14-31C40E22308E_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Product Design and Pricing
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 Our policies, standards, and standards of practice with respect to
 product design and pricing are designed with the objective of
 aligning our product offerings with our risk taking philosophy and
 risk appetite, and in particular, that incremental risk generated
 from new sales aligns with our strategic risk objectives and risk
 limits. The specific design features of our product offerings,
 including level of benefit guarantees, policyholder options, fund
 offerings and availability restrictions as well as our associated
 investment strategies, help to mitigate the level of underlying
 risk. We regularly review and modify key features within our
 product offerings, including premiums and fee charges with a goal
 of meeting profit targets and staying within risk limits. Certain
 of our general fund adjustable benefit products have minimum rate
 guarantees. The rate guarantees for any particular policy are set
 at the time the policy is issued and governed by insurance
 regulation in each jurisdiction where the products are sold. The
 contractual provisions allow crediting rates to
 be&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;re-set&lt;/font&gt;
 at&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pre-established&lt;/font&gt;&amp;#xA0;intervals
 subject to the established minimum crediting rate guarantees. The
 Company may partially mitigate the interest rate exposure by
 setting new rates on new business and by adjusting rates
 on&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;business
 where permitted. In addition, the Company partially mitigates this
 interest rate risk through its asset liability management process,
 product design elements, and crediting rate strategies. New product
 initiatives, new reinsurance arrangements and material insurance
 underwriting initiatives must be reviewed and approved by the CRO
 or key individuals within risk management functions.&lt;/p&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory>
  <mfc:DisclosureOfRiskManagementExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_4C94F248-D3C3-4B8F-BA64-DF3DC646581F_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;Market
 Risk Management Strategy&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;Market risk management strategy is
 governed by the Global Asset Liability Committee which oversees the
 overall market and liquidity risk program. Our overall strategy to
 manage our market risks incorporates several component strategies,
 each targeted to manage one or more of the market risks arising
 from our businesses. At an enterprise level, these strategies are
 designed to manage our aggregate exposures to market risks against
 limits associated with earnings and capital volatility.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;The following table outlines our
 key market risks and identifies the risk management strategies
 which contribute to managing these risks.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font style="FONT-SIZE: 9pt" color="#1F320C"&gt;&lt;b&gt;Risk Management
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="18" align="center"&gt;&lt;b&gt;Key Market Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Publicly&lt;br /&gt;
 Traded&amp;#xA0;Equity&lt;br /&gt;
 Performance&lt;br /&gt;
 Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Interest&amp;#xA0;Rate&lt;br /&gt;
 and Spread&lt;br /&gt;
 Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Alternative&lt;br /&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Long-Duration&lt;/font&gt;&lt;br /&gt;
 Asset&lt;br /&gt;
 Performance&lt;br /&gt;
 Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Foreign&lt;br /&gt;
 Exchange&amp;#xA0;Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Liquidity&amp;#xA0;Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Product design and pricing&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Variable annuity guarantee dynamic hedging&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Macro equity risk hedging&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asset liability management&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign exchange management&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Liquidity risk management&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DisclosureOfRiskManagementExplanatory>
  <mfc:DisclosureOfSummaryOfCompositionOfSegregatedFundsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_4CEE03C9-72B6-4B53-A598-E60F6847C4EC_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The carrying value and change in segregated funds net assets are as
 follows.&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Segregated funds net assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="79%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Investments at market value&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Cash and short-term securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,700&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,756&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Debt securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;15,313&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,472&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Equities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,661&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,624&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Mutual funds&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;277,133&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;288,007&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other investments&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,678&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,514&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Accrued investment income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,811&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;201&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Other assets and liabilities, net&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(700&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(766&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total segregated funds net assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;313,596&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;324,808&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Composition of segregated funds net assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Held by policyholders&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Held by the Company&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;387&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;501&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total segregated funds net assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;313,596&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;324,808&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfSummaryOfCompositionOfSegregatedFundsExplanatory>
  <mfc:DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersArisingFromChangesToNoneconomicAssumptionsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_3EEFFAA9-233D-496F-BD72-72AC1FAF468F_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders arising from changes
 to&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-economic&lt;/font&gt;&amp;#xA0;assumptions&lt;sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="87%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" rowspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Decrease in net income&lt;br /&gt;
 attributed to shareholders&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Policy related assumptions&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2% adverse change in future mortality rates&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2),(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Products where an increase in rates increases insurance contract
 liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(400&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Products where a decrease in rates increases insurance contract
 liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(500&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5% adverse change in future morbidity rates (incidence and
 termination)&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3),(4),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(4,800&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(5,100&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 10% adverse change in future policy termination rates&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(2,200&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(2,100&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5% increase in future expense levels&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(600&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(500&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes
 in&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-economic&lt;/font&gt;&amp;#xA0;assumptions.
 Experience gains or losses would generally result in changes to
 future dividends, with no direct impact to shareholders.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;An increase in mortality rates will generally increase
 policy liabilities for life insurance contracts whereas a decrease
 in mortality rates will generally increase policy liabilities for
 policies with longevity risk such as payout annuities.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;No amounts related to morbidity risk are included for
 policies where the policy liability provides only for claims costs
 expected over a short period, generally less than one year, such as
 Group Life and Health.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The impacts of the adverse sensitivities on LTC for
 morbidity, mortality and lapse do not assume any partial offsets
 from the Company&amp;#x2019;s ability to contractually raise premium
 rates in such events, subject to state regulatory approval. In
 practice, the Company would plan to file for rate increases equal
 to the amount of deterioration resulting from the sensitivity.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;This includes a 5% deterioration in incidence rates
 and 5% deterioration in claim termination rates.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersArisingFromChangesToNoneconomicAssumptionsExplanatory>
  <mfc:DisclosureOfDetailedInformationAboutGoodwillAndIntangibleAssetsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_138DE514-0B57-46B1-B14E-F93904258D41_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;(a) Carrying amounts of goodwill and
 intangible assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="54%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Additions/&lt;br /&gt;
 disposals&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Amortization&lt;br /&gt;
 expense&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Effect&amp;#xA0;of&amp;#xA0;changes&lt;br /&gt;
 in foreign&lt;br /&gt;
 exchange rates&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2018&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Goodwill&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,713&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(65&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;216&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,864&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Indefinite life intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Brand&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;753&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;66&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;819&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Fund management contracts and other&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;755&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;40&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;798&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,508&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;106&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,617&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Finite life intangible assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Distribution networks&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;989&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;(133&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;48&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;60&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;868&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Customer relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;899&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;55&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;860&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Software&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;661&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;275&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;147&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;32&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;821&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;70&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;67&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,619&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;142&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;255&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;110&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,616&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,127&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;145&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;255&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;216&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,233&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total goodwill and intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9,840&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;80&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;255&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;432&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;10,097&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 January&amp;#xA0;1,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Additions/&lt;br /&gt;
 disposals&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Amortization&lt;br /&gt;
 expense&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Effect of changes&lt;br /&gt;
 in foreign&lt;br /&gt;
 exchange rates&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;Balance,&lt;br /&gt;
 December&amp;#xA0;31,&lt;br /&gt;
 2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Goodwill&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,884&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(171&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5,713&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Indefinite life intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Brand&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;805&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(52&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;753&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Fund management contracts and other&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;785&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(30&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;755&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,590&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(82&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;1,508&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Finite life intangible assets&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Distribution networks&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,093&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(57&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;989&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Customer relationships&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;969&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;56&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;899&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Software&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;494&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;303&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;121&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(15&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;661&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;77&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;5&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(2&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;70&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,633&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;303&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;229&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(88&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;2,619&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,223&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;303&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;229&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(170&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;4,127&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total goodwill and intangible assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;10,107&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;303&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;229&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;(341&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;9,840&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;For fund management contracts, the significant CGUs to
 which these were allocated and their associated carrying values
 were U.S. WAM with $400 (2017 &amp;#x2013; $367) and Canada WAM with
 $273 (2017 &amp;#x2013; $273).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Gross carrying amount of finite life intangible assets
 was $1,331 for distribution networks, $1,145 for customer
 relationships, $2,110 for software and $133 for other (2017 &amp;#x2013;
 $1,294, $1,128, $1,841 and $126, respectively).&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2018, disposals include $65 of goodwill and $96 of
 distribution networks from the sale of the U.S. broker-dealer
 business, and impairments of distribution networks for discontinued
 products of $27 in U.S. segment and $13 in Asia segment.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfDetailedInformationAboutGoodwillAndIntangibleAssetsExplanatory>
  <mfc:DisclosureOfDividendsPaidExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_9F298414-3079-40F1-B17B-B899CDA5B787_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Board also declared dividends on the
 following&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-cumulative&lt;/font&gt;&amp;#xA0;preferred
 shares, payable on or after March&amp;#xA0;19, 2019 to shareholders of
 record at the close of business on February&amp;#xA0;27, 2019.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="51%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td width="48%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;A Shares Series 2 &amp;#x2013; $0.29063 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 13 &amp;#x2013; $0.275875
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;A Shares Series 3 &amp;#x2013; $0.28125 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 15 &amp;#x2013; $0.24375
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 3 &amp;#x2013; $0.136125 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 17 &amp;#x2013; $0.24375
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 4 &amp;#x2013; $0.193315 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 19 &amp;#x2013; $0.2375
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 5 &amp;#x2013; $0.243188 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 21 &amp;#x2013; $0.35 per
 share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 7 &amp;#x2013; $0.2695 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 23 &amp;#x2013; $0.303125
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 9 &amp;#x2013; $0.271938 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;Class&amp;#xA0;1 Shares Series 25 &amp;#x2013; $0.29375
 per share&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Class&amp;#xA0;1 Shares Series 11 &amp;#x2013; $0.295688 per share&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;


 &lt;/div&gt;</mfc:DisclosureOfDividendsPaidExplanatory>
  <mfc:DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_A3D960F7-41CC-4C5B-ABC3-CE705F09A700_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;&lt;br class="Apple-interchange-newline" /&gt;
 (d) Basis of consolidation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 MFC consolidates the financial statements of all entities,
 including certain structured entities that it controls.
 Subsidiaries are entities controlled by the Company. The Company
 has control over an entity when the Company has the power to govern
 the financial and operating policies of the entity, is exposed to
 variable returns from its activities which are significant in
 relation to the total variable returns of the entity and the
 Company is able to use its power over the entity to affect its
 share of variable returns. In assessing control, significant
 judgment is applied while considering all relevant facts and
 circumstances. When assessing decision-making power, the Company
 considers the extent of its rights relative to the management of an
 entity, the level of voting rights held in an entity which are
 potentially or presently exercisable, the existence of any
 contractual management agreements which may provide the Company
 with power over an entity&amp;#x2019;s financial and operating policies
 and to the extent of other parties&amp;#x2019; ownership in an entity,
 if any, the possibility for de facto control being present. When
 assessing returns, the Company considers the significance of direct
 and indirect financial and&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-financial&lt;/font&gt;&amp;#xA0;variable
 returns to the Company from an entity&amp;#x2019;s activities in
 addition to the proportionate significance of such returns. The
 Company also considers the degree to which its interests are
 aligned with those of other parties investing in an entity and the
 degree to which it may act in its own interest.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The financial statements of subsidiaries are included in
 MFC&amp;#x2019;s consolidated results from the date control is
 established and are excluded from consolidation from the date
 control ceases. The initial control assessment is performed at
 inception of the Company&amp;#x2019;s involvement with the entity and is
 reconsidered at a later date if the Company acquires or loses power
 over key operating and financial policies of the entity; acquires
 additional interests or disposes of interests in the entity; the
 contractual arrangements of the entity are amended such that the
 Company&amp;#x2019;s proportionate exposure to variable returns changes;
 or if the Company&amp;#x2019;s ability to use its power to affect its
 variable returns from the entity changes.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The Company&amp;#x2019;s Consolidated Financial Statements have been
 prepared using uniform accounting policies for like transactions
 and events in similar circumstances. Intercompany balances, and
 income and expenses arising from intercompany transactions, have
 been eliminated in preparing the Consolidated Financial
 Statements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;&amp;#xA0;interests
 are interests of other parties in the equity of MFC&amp;#x2019;s
 subsidiaries and are presented within total equity, separate from
 the equity of MFC&amp;#x2019;s
 shareholders.&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-controlling&lt;/font&gt;&amp;#xA0;interests
 in the net income and other comprehensive income
 (&amp;#x201C;OCI&amp;#x201D;) of MFC&amp;#x2019;s subsidiaries are included in
 total net income and total OCI, respectively. An exception to this
 occurs where the subsidiary&amp;#x2019;s shares are required to be
 redeemed for cash on a fixed or determinable date, in which case
 other parties&amp;#x2019; interests in the subsidiary&amp;#x2019;s capital
 are presented as liabilities of the Company and other
 parties&amp;#x2019;&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;non-controlling&lt;/font&gt;&amp;#xA0;interests
 in the subsidiary&amp;#x2019;s income and OCI are recorded as expenses
 of the Company.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The equity method of accounting is used to account for entities
 over which the Company has significant influence
 (&amp;#x201C;associates&amp;#x201D; or &amp;#x201C;joint ventures&amp;#x201D;), whereby
 the Company records its share of the associate&amp;#x2019;s or joint
 venture&amp;#x2019;s net assets and financial results using uniform
 accounting policies for similar transactions and events.
 Significant judgment is used to determine whether voting rights,
 contractual management and other relationships with the entity, if
 any, provide the Company with significant influence or joint
 control over the entity. Gains and losses on the sale of associates
 or joint ventures are included in income when realized, while
 impairment losses are recognized immediately when there is
 objective evidence of impairment. Gains and losses on commercial
 transactions with associates or joint ventures are eliminated to
 the extent of the Company&amp;#x2019;s interest in the associate or
 joint venture. Investments in associates or joint ventures are
 included in other invested assets on the Company&amp;#x2019;s
 Consolidated Statements of Financial Position.&lt;/p&gt;
 &lt;/div&gt;</mfc:DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory>
  <mfc:DisclosureOfGrossNotionalAmountByRemainingTermToMaturityFairValueIncludingAccruedInterestCreditRiskEquivalentAndRiskWeightedAmountByContractTypeExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_9D8DA39C-3AF1-422D-BC85-6B8911094909_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt"&gt;
 The following table presents fair values of derivative instruments
 by the remaining term to maturity. The fair values disclosed below
 do not incorporate the impact of master netting agreements. Refer
 to note 9.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="60%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;Remaining term to maturity&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Less&amp;#xA0;than&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 to 3&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;3 to 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Over 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 Total&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;649&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;671&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;795&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,588&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13,703&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;359&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;229&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;227&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,988&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,803&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="13" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;Remaining
 term to maturity&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font style="FONT-SIZE: 7pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Less&amp;#xA0;than&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1 to 3&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;3 to 5&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Over 5&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;br /&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;Total&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;605&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;822&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;889&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;13,253&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;15,569&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Derivative liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;224&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;149&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;168&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;7,281&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;7,822&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The following table presents gross notional amount by the remaining
 term to maturity, total fair value (including accrued interest),
 credit risk equivalent and risk-weighted amount by contract
 type.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="35%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center"&gt;Remaining term to
 maturity (notional amounts)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Under 1&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 to 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Over&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;5 years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Positive&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Negative&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Net&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Credit&amp;#xA0;risk&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;equivalent&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Risk-&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;weighted&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;amount&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 OTC swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,495&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;22,568&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;121,817&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;147,880&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,750&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(6,477&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,273&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,301&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;787&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Cleared swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,723&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;16,140&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;131,480&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;153,343&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;95&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(96&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,258&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,300&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;648&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;25,206&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;637&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(126&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;511&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;259&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;37&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,297&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,297&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Options purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,166&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,981&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,589&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11,736&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;317&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;317&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;376&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;58&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Subtotal&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;34,939&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;57,989&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;259,534&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;352,462&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,799&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(6,699&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,936&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;882&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign exchange&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,024&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,281&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;17,776&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;25,081&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;807&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,736&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(929&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,309&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;256&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,926&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;60&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,986&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;54&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(106&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(52&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;108&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;13&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,052&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,052&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
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 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;143&lt;/b&gt;&lt;/td&gt;
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 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;509&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;652&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
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 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,728&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;142&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,870&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;29&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(57&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(28&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;303&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;38&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,908&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,908&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Options purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,142&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6,581&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,723&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;621&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(118&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;503&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,277&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;316&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Subtotal including accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;65,862&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;71,562&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;277,310&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;414,734&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;14,320&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(8,716&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,604&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;10,933&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,505&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Less accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;617&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(913&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(296&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;
 &lt;b&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;65,862&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;71,562&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;277,310&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;414,734&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,703&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(7,803&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;5,900&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10,933&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,505&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center"&gt;Remaining term to maturity (notional
 amounts)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center"&gt;Fair value&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Under 1&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;year&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;1 to 5&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Over&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;5 years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Positive&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Negative&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Net&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Credit&amp;#xA0;risk&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;equivalent&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Risk-&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;weighted&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;amount&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Interest rate contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 OTC swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,161&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;19,141&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;112,412&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;138,714&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,379&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(6,867&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,512&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,588&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;809&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Cleared swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,615&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,928&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;93,561&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;108,104&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;245&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(206&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;6,036&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,614&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;675&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;17,325&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;903&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(38&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;865&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;285&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,551&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,551&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Options purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;816&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;3,856&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;5,421&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10,093&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;312&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;312&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;471&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;61&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Subtotal&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;27,179&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;46,539&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;212,069&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;285,787&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14,839&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(7,111&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,728&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,344&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;905&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign exchange&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;999&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,481&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,682&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,162&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;510&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(1,483&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(973&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,874&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;200&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Forward contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,046&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;135&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,181&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(31&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(19&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;101&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,157&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,157&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Credit derivatives&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;38&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;568&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;606&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Equity contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Swap contracts&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,612&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;169&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,781&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;60&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(14&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;46&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;337&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;35&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Futures&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,158&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,158&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Options purchased&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4,693&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;6,148&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;100&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;10,941&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;769&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(10&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;759&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;2,606&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;305&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Subtotal including accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;53,882&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;58,040&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;224,851&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;336,773&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,204&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(8,649&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,555&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;12,262&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 1,457&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Less accrued interest&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;635&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(827&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(192&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;53,882&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;58,040&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;224,851&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;336,773&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;15,569&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;(7,822&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;7,747&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;12,262&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,457&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Credit risk equivalent is the sum of replacement cost
 and the potential future credit exposure. Replacement cost
 represents the current cost of replacing all contracts with a
 positive fair value. The amounts take into consideration legal
 contracts that permit offsetting of positions. The potential future
 credit exposure is calculated based on a formula prescribed by
 OSFI.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Risk-weighted amount represents the credit risk
 equivalent, weighted according to the creditworthiness of the
 counterparty, as prescribed by OSFI.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfGrossNotionalAmountByRemainingTermToMaturityFairValueIncludingAccruedInterestCreditRiskEquivalentAndRiskWeightedAmountByContractTypeExplanatory>
  <mfc:DisclosureOfIncomeTaxExpenseReconciliationShowingEffectiveIncomeTaxExpenseDifferenceFromStatutoryIncomeTaxExpenseExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_A25CDB1A-578B-4D6C-AF38-A4DFAAD382C1_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The effective income tax rate reflected in the Consolidated
 Statements of Income varies from the Canadian tax rate of
 26.75&amp;#xA0;per cent for the year ended December&amp;#xA0;31, 2018 (2017
 &amp;#x2013; 26.75 per cent) due to the following reasons.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Reconciliation of income tax
 expense&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="81%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income before income taxes&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;5,519&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;2,501&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income tax expense at Canadian statutory tax rate&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,476&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;669&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Increase (decrease) in income taxes due to:&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Tax-exempt&lt;/font&gt;&amp;#xA0;investment
 income&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(200&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(242&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Differences in tax rate on income not subject to tax in Canada&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(391&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(551&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Adjustments to taxes related to prior years&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(71&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(182&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Impact of U.S. Tax Reform&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(320&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;472&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other differences&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;138&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;73&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Income tax expense&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;632&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;239&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;br class="Apple-interchange-newline" /&gt;

 &lt;/div&gt;</mfc:DisclosureOfIncomeTaxExpenseReconciliationShowingEffectiveIncomeTaxExpenseDifferenceFromStatutoryIncomeTaxExpenseExplanatory>
  <mfc:SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_03663559-AE1F-4949-B6B8-860E21124E0A_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 Credit quality of commercial mortgages and private placements.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="46%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;AAA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;AA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;A&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;BBB&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;BB&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;B&amp;#xA0;and&amp;#xA0;lower&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Commercial mortgages&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Retail&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;82&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,524&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;4,459&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,227&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;74&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,377&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Office&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;56&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,495&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,454&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,650&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;45&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;8,706&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Multi-family residential&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;613&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,427&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,407&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;839&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;37&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;5,323&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Industrial&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;36&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;366&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,953&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;339&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;120&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,814&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;289&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;334&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;1,167&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;1,191&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;14&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;2,995&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total commercial mortgages&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;1,076&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;5,146&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;15,440&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;6,246&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;213&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;94&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"&gt;&lt;b&gt;28,215&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Agricultural mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;163&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;389&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;552&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,143&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;4,968&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;13,304&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;14,055&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;733&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,551&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;35,754&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;2,219&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;10,277&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;28,744&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;20,690&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;946&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;1,645&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;64,521&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;AAA&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;AA&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;A&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;BBB&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;BB&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;B&amp;#xA0;and&amp;#xA0;lower&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Total&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Commercial mortgages&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Retail&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;110&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,517&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,363&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,050&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;44&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;57&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,141&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Office&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;57&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,272&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,635&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,647&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;70&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;28&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,709&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Multi-family residential&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;523&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,395&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,805&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;726&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4,449&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Industrial&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;33&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;386&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,542&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;477&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;145&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,583&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Other&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right"&gt;362&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right"&gt;331&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right"&gt;1,012&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right"&gt;973&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right"&gt;14&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right"&gt;2,692&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total commercial mortgages&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,085&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4,901&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;13,357&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;5,873&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;273&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;85&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;25,574&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Agricultural mortgages&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;159&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;405&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;25&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;589&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;1,038&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;4,246&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;11,978&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;13,160&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;717&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;993&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;32,132&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;2,123&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;9,306&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;25,335&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;19,438&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;1,015&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;1,078&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;58,295&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock>
  <mfc:KeyMarketRisksAndRiskManagementStrategiesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_A9363B27-CD44-452E-A0AD-FB500A0ED3DA_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;The following table outlines our
 key market risks and identifies the risk management strategies
 which contribute to managing these risks.&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &lt;font style="FONT-FAMILY: ARIAL"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="50%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font style="FONT-SIZE: 9pt" color="#1F320C"&gt;&lt;b&gt;Risk Management
 Strategy&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="18" align="center"&gt;&lt;b&gt;Key Market Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Publicly&lt;br /&gt;
 Traded&amp;#xA0;Equity&lt;br /&gt;
 Performance&lt;br /&gt;
 Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Interest&amp;#xA0;Rate&lt;br /&gt;
 and Spread&lt;br /&gt;
 Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Alternative&lt;br /&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Long-Duration&lt;/font&gt;&lt;br /&gt;
 Asset&lt;br /&gt;
 Performance&lt;br /&gt;
 Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Foreign&lt;br /&gt;
 Exchange&amp;#xA0;Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;Liquidity&amp;#xA0;Risk&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Product design and pricing&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Variable annuity guarantee dynamic hedging&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Macro equity risk hedging&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Asset liability management&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Foreign exchange management&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Liquidity risk management&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman"&gt;&amp;#x2713;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:KeyMarketRisksAndRiskManagementStrategiesExplanatory>
  <mfc:PercentageOfMortgagePortfolio contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="2" id="id_14036987_572ADB4A-E392-42CB-BB86-A7CDE7CDAB36_1_0" unitRef="pure">0.15</mfc:PercentageOfMortgagePortfolio>
  <mfc:VariableAnnuityGuaranteeLiabilitiesRebalancedBasisPointIntervals contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="4" id="id_14036987_4539E41C-6905-4B78-8FBA-E2E3B7D6A33F_1_0" unitRef="pure">0.0020</mfc:VariableAnnuityGuaranteeLiabilitiesRebalancedBasisPointIntervals>
  <mfc:SensitivityBasisPointOfNetIncomeAttributedToShareholders contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="4" id="id_14036987_493ABB7D-0EB4-4DA4-B751-B2BF85908F6C_1_0" unitRef="pure">0.0050</mfc:SensitivityBasisPointOfNetIncomeAttributedToShareholders>
  <mfc:IntervalPercentageOfWhichImpactOfRebalancingEquityHedgesForDynamicallyHedgedVariableAnnuityGuaranteeBestEstimateLiabilities contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="2" id="id_14036987_35990534-1149-4D2B-99D2-41C8B66E2FDC_3001_1" unitRef="pure">0.05</mfc:IntervalPercentageOfWhichImpactOfRebalancingEquityHedgesForDynamicallyHedgedVariableAnnuityGuaranteeBestEstimateLiabilities>
  <mfc:ChangesInSegregatedFundsNetAssetsOther contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_695E2DB0-A257-4879-AB84-62D6B55A2D3E_1_12" unitRef="iso4217_CAD">14264000000</mfc:ChangesInSegregatedFundsNetAssetsOther>
  <mfc:DynamicallyHedgedVariableAnnuityGuaranteeEstimateLiabilitiesPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="2" id="id_14036987_DC336197-F454-4D7A-8848-32CD293FC5A4_1_0" unitRef="pure">0.05</mfc:DynamicallyHedgedVariableAnnuityGuaranteeEstimateLiabilitiesPercentage>
  <mfc:DisclosureOfCondensedConsolidatedStatementsOfFinancialPositionExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_6751AAF7-6F17-4C64-9DBF-276DDC99CB0F_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Condensed Consolidated Statements of
 Financial Position&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="77%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MLI&lt;br /&gt;
 consolidated&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Other&lt;br /&gt;
 subsidiaries of&lt;br /&gt;
 MFC on a&lt;br /&gt;
 combined&amp;#xA0;basis&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;
 Total&lt;br /&gt;
 consolidated&lt;br /&gt;
 amounts&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MFLP&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;21&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;353,632&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;353,664&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;11&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total other assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;54,346&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;83,523&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(54,474&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;83,398&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,059&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,265&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,265&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;313,209&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;8,403&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;50,043&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(454&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;57,992&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;833&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="13"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="13" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MFC&lt;br /&gt;
 (Guarantor)&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MLI&lt;br /&gt;
 consolidated&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Other&lt;br /&gt;
 subsidiaries of&lt;br /&gt;
 MFC on a&lt;br /&gt;
 combined&amp;#xA0;basis&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Consolidation&lt;br /&gt;
 adjustments&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;Total&lt;br /&gt;
 consolidated&lt;br /&gt;
 amounts&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right"&gt;MFLP&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Invested assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;21&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;334,191&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;10&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;334,222&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;
 $&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;5&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total other assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;48,688&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;71,180&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(48,868&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;71,004&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,033&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Insurance contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;304,605&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;304,605&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Investment contract liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,126&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,126&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Segregated funds net liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324,307&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Total other liabilities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;7,696&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;48,145&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;(509&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;55,332&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;831&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</mfc:DisclosureOfCondensedConsolidatedStatementsOfFinancialPositionExplanatory>
  <mfc:AdjustmentsForRestructuringCharge contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" decimals="-6" id="id_14036987_CDB2485E-1095-457D-ADC6-07B4CF5A3D7B_1_10" unitRef="iso4217_CAD">156000000</mfc:AdjustmentsForRestructuringCharge>
  <mfc:DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersAndMLILICATRatioOfImmediateParallelChangeInInterestRatesRelativeToRatesAssumedInValuationOfPolicyLiabilitiesTextBlock contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0" id="id_14036987_B6432316-29B4-4391-BC4D-A07EA3A99AF4_1_0">&lt;div&gt;
 &lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders and MLI&amp;#x2019;s LICAT total ratio of an immediate
 parallel change in interest rates relative to rates assumed in the
 valuation of policy liabilities&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(1),(2),(3),(4)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;/div&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td width="66%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid" bgcolor="#E9EDF2"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="6"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="9"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;2017&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&lt;font style="FONT-SIZE: 7pt" color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;-50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;+50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;-50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;+50bp&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Net income attributed to shareholders ($ millions)&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Excluding change in market value of AFS fixed income assets held in
 the Corporate and Other segment&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;(200&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;100&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 From fair value changes in AFS fixed income assets held in the
 Corporate and Other segment, if realized&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,600&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,500&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;1,100&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;(1,000&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;See &amp;#x201C;Caution Related to Sensitivities&amp;#x201D;
 above. In addition, estimates exclude changes to the net actuarial
 gains/losses with respect to the Company&amp;#x2019;s pension
 obligations as a result of changes in interest rates, as the impact
 on the quoted sensitivities is not considered to be material.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes guaranteed insurance and annuity products,
 including variable annuity contracts as well as adjustable benefit
 products where benefits are generally adjusted as interest rates
 and investment returns change, a portion of which have minimum
 credited rate guarantees. For adjustable benefit products subject
 to minimum rate guarantees, the sensitivities are based on the
 assumption that credited rates will be floored at the minimum.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The amount of gain or loss that can be realized on AFS
 fixed income assets held in the Corporate and Other segment will
 depend on the aggregate amount of unrealized gain or loss.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Sensitivities are based on projected asset and
 liability cash flows and the impact of realizing fair value changes
 in AFS fixed income is based on the holdings at the end of the
 period.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. The LICAT
 ratio is not applicable before January 1, 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersAndMLILICATRatioOfImmediateParallelChangeInInterestRatesRelativeToRatesAssumedInValuationOfPolicyLiabilitiesTextBlock>
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 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 Credit quality of residential mortgages and loans to Bank
 clients.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="52%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="2"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="12"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 10pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;font style="FONT-SIZE: 4.5pt"&gt;&lt;sup style="FONT-SIZE: 5px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="10" align="center"&gt;&lt;font style="FONT-SIZE: 7pt"&gt;2017&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Insured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Uninsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Insured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Uninsured&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;Total&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Residential mortgages&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Performing&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;6,854&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;12,696&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;19,550&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;7,256&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;11,310&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;18,566&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-performing&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;27&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;46&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;4&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;9&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Loans to Bank clients&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 Performing&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,787&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,787&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,734&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,734&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em"&gt;
 &lt;font style="WHITE-SPACE: nowrap"&gt;Non-performing&lt;/font&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;n/a&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;6&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;n/a&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;3&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;6,873&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;14,516&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;21,389&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right"&gt;&amp;#xA0;&amp;#xA0;7,260&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right"&gt;&amp;#xA0;&amp;#xA0;13,056&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right"&gt;&amp;#xA0;&amp;#xA0;20,316&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;Non-performing&lt;/font&gt;&amp;#xA0;refers
 to assets that are 90 days or more past due.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;


 &lt;/div&gt;</mfc:DisclosureOfResidentialMortgagesAndLoanToBankClientsExplanatory>
  <ifrs-full:BorrowingsInterestRateBasis contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3494897" id="id_14036987_AA931AF4-EEED-4845-8C24-1EAF2C7CDCE1_1001_1">5-Year US Dollar Mid-Swap Rate plus 1.647</ifrs-full:BorrowingsInterestRateBasis>
  <mfc:DebtInstrumentRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3494897" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1003_2">2027-02-24</mfc:DebtInstrumentRedemptionDate>
  <mfc:DebtSecuritiesMaturityDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3494897" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1003_3">2032-02-24</mfc:DebtSecuritiesMaturityDate>
  <mfc:DebtSecuritiesIssuanceDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3494897" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1003_1">2017-02-24</mfc:DebtSecuritiesIssuanceDate>
  <mfc:BorrowingInterestRateResetPeriod contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3494897" id="id_14036987_AA931AF4-EEED-4845-8C24-1EAF2C7CDCE1_1001_3">P5Y</mfc:BorrowingInterestRateResetPeriod>
  <ifrs-full:BorrowingsInterestRateBasis contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3494898" id="id_14036987_E603BA45-1DB0-4F70-B137-095CA85E1E63_1001_1">90-day Bankers' Acceptance rate plus a specified number of basis points.</ifrs-full:BorrowingsInterestRateBasis>
  <mfc:DebtInstrumentRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3494898" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1005_2">2024-08-20</mfc:DebtInstrumentRedemptionDate>
  <mfc:DebtSecuritiesMaturityDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3494898" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1005_3">2029-08-20</mfc:DebtSecuritiesMaturityDate>
  <mfc:DebtSecuritiesIssuanceDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3494898" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1005_1">2017-08-17</mfc:DebtSecuritiesIssuanceDate>
  <mfc:DebtInstrumentRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3495025" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1004_2">2024-11-21</mfc:DebtInstrumentRedemptionDate>
  <mfc:DebtSecuritiesMaturityDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3495025" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1004_3">2029-11-21</mfc:DebtSecuritiesMaturityDate>
  <mfc:DebtSecuritiesIssuanceDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3495025" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1004_1">2017-11-21</mfc:DebtSecuritiesIssuanceDate>
  <ifrs-full:BorrowingsInterestRateBasis contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3495026" id="id_14036987_6D997305-3A5D-456A-91E3-777AED916185_3001_1">90-day Bankers&#x2019; Acceptance rate plus 0.72%</ifrs-full:BorrowingsInterestRateBasis>
  <mfc:DebtSecuritiesMaturityDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3495026" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1002_3">2036-12-15</mfc:DebtSecuritiesMaturityDate>
  <mfc:DebtSecuritiesIssuanceDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3495026" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1002_1">2006-12-14</mfc:DebtSecuritiesIssuanceDate>
  <ifrs-full:InvestmentIncome contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3495069" decimals="-6" id="id_14036987_15FE1B38-B248-4FC7-8289-EF2A8D8CE5DA_19004_30" unitRef="iso4217_CAD">-164000000</ifrs-full:InvestmentIncome>
  <ifrs-full:InvestmentIncome contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3532590" decimals="-6" id="id_14036987_15FE1B38-B248-4FC7-8289-EF2A8D8CE5DA_20004_28" unitRef="iso4217_CAD">11081000000</ifrs-full:InvestmentIncome>
  <mfc:NetInvestmentIncomeLoss contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3532594" decimals="-6" id="id_14036987_15FE1B38-B248-4FC7-8289-EF2A8D8CE5DA_21004_15" unitRef="iso4217_CAD">371000000</mfc:NetInvestmentIncomeLoss>
  <ifrs-full:BorrowingsInterestRateBasis contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3536726" id="id_14036987_E603BA45-1DB0-4F70-B137-095CA85E1E63_2001_3">90-day Bankers' Acceptance rate plus a specified number of basis points.</ifrs-full:BorrowingsInterestRateBasis>
  <mfc:DebtInstrumentRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3536726" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1006_2">2023-05-09</mfc:DebtInstrumentRedemptionDate>
  <mfc:DebtSecuritiesMaturityDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3536726" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1006_3">2028-05-09</mfc:DebtSecuritiesMaturityDate>
  <mfc:DebtSecuritiesIssuanceDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3416962x3536726" id="id_14036987_27D37347-C17B-4E0A-BF0A-B72D54C319C5_1006_1">2018-05-09</mfc:DebtSecuritiesIssuanceDate>
  <mfc:OtherInvestedAssetsFairValueDiscountRate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417098x3479894_3422662x3416700" decimals="4" id="id_14036987_032AED52-89EF-411D-A1D1-031654EAE9AC_1001_0" unitRef="pure">0.0895</mfc:OtherInvestedAssetsFairValueDiscountRate>
  <mfc:OtherInvestedAssetsFairValueDiscountRate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417098x3479894_3422662x3423353" decimals="4" id="id_14036987_032AED52-89EF-411D-A1D1-031654EAE9AC_1002_0" unitRef="pure">0.1650</mfc:OtherInvestedAssetsFairValueDiscountRate>
  <mfc:OtherInvestedAssetsFairValueDiscountRate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417098x3480135_3422662x3416700" decimals="3" id="id_14036987_032AED52-89EF-411D-A1D1-031654EAE9AC_2001_1" unitRef="pure">0.050</mfc:OtherInvestedAssetsFairValueDiscountRate>
  <mfc:OtherInvestedAssetsFairValueDiscountRate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417098x3480135_3422662x3423353" decimals="3" id="id_14036987_032AED52-89EF-411D-A1D1-031654EAE9AC_2002_1" unitRef="pure">0.070</mfc:OtherInvestedAssetsFairValueDiscountRate>
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 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders arising from changes in ALDA
 returns&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(1),(2),(3),(4),(5),(6)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
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 &lt;tr&gt;
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 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
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 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" rowspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" rowspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6" align="center"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="center"&gt;2017&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;-10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;+10%&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Real estate, agriculture and timber assets&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(1,300&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,200&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(1,300&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,300&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Private equities and other ALDA&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1,600&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,600&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" align="right"&gt;(1,500&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" align="right"&gt;1,400&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Alternative long-duration assets&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(2,900&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,800&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(2,800&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 )&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;2,700&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;See &amp;#x201C;Caution Related to Sensitivities&amp;#x201D;
 above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;This impact is calculated as at
 a&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;&lt;font style="WHITE-SPACE: nowrap"&gt;point-in-time&lt;/font&gt;&lt;/font&gt;&amp;#xA0;impact
 and does not include: (i)&amp;#xA0;any potential impact on ALDA
 weightings or (ii)&amp;#xA0;any gains or losses on ALDA held in the
 Corporate and Other segment.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes in ALDA returns.
 For some classes of ALDA, where there is not an appropriate
 long-term benchmark available, the return assumptions used in
 valuation are not permitted by the Standards of Practice and CIA
 guidance to result in a lower reserve than an assumption based on a
 historical return benchmark for public equities in the same
 jurisdiction.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Net income impact does not consider any impact of the
 market correction on assumed future return assumptions.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Please refer to &amp;#x201C;Sensitivity of Earnings to
 Changes in Assumptions&amp;#x201D; below, for more information on the
 level of growth assumed and on the net income sensitivity to
 changes in these long-term assumptions.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The impact of changes to the portfolio asset mix
 supporting our North American legacy business are reflected in the
 sensitivities when the changes take place.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersArisingFromChangesToSpreadsExplanatory>
  <mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417430x3489469_3420398x3489494_3424456x3489478" decimals="-6" id="id_14036987_FEEAEC05-E293-4718-A3B2-52D8B033CAA9_2001_0" unitRef="iso4217_CAD">-1300000000</mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact>
  <mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417430x3489469_3420398x3489494_3424456x3489479" decimals="-6" id="id_14036987_FEEAEC05-E293-4718-A3B2-52D8B033CAA9_2002_0" unitRef="iso4217_CAD">1200000000</mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact>
  <mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417430x3489469_3420398x3489495_3424456x3489478" decimals="-6" id="id_14036987_FEEAEC05-E293-4718-A3B2-52D8B033CAA9_3001_1" unitRef="iso4217_CAD">-1600000000</mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact>
  <mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417430x3489469_3420398x3489495_3424456x3489479" decimals="-6" id="id_14036987_FEEAEC05-E293-4718-A3B2-52D8B033CAA9_3002_1" unitRef="iso4217_CAD">1600000000</mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact>
  <mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417430x3489469_3424456x3489478" decimals="-6" id="id_14036987_FEEAEC05-E293-4718-A3B2-52D8B033CAA9_1001_2" unitRef="iso4217_CAD">-2900000000</mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact>
  <mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417430x3489469_3424456x3489479" decimals="-6" id="id_14036987_FEEAEC05-E293-4718-A3B2-52D8B033CAA9_1002_2" unitRef="iso4217_CAD">2800000000</mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact>
  <mfc:SpreadPeriodToGradeToLongtermAverage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417430x3489475" id="id_14036987_BD754823-CA0E-468E-9631-395A51133106_1001_0">P5Y</mfc:SpreadPeriodToGradeToLongtermAverage>
  <mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417430x3489475_3424456x3489474" decimals="-6" id="id_14036987_4E2E1C8B-F264-44D3-9CE6-58E471D07E1F_1001_0" unitRef="iso4217_CAD">-600000000</mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact>
  <mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417430x3489475_3424456x3489476" decimals="-6" id="id_14036987_4E2E1C8B-F264-44D3-9CE6-58E471D07E1F_1002_0" unitRef="iso4217_CAD">600000000</mfc:IncreaseDecreaseInEquityMarketValuesNetIncomeImpact>
  <mfc:DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersArisingFromChangesToSpreadsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417430x3494877" id="id_14036987_334A6E7C-F2F6-4564-8335-54EF4FFADA77_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders and MLI&amp;#x2019;s LICAT total ratio arising from
 changes to corporate spreads and swap
 spreads&lt;/b&gt;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"&gt;&lt;sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top"&gt;(1),(2),(3)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td width="72%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; break-inside: avoid" bgcolor="#E9EDF2"&gt;
 &lt;td valign="top"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;b&gt;Corporate
 spreads&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(4),(5)&lt;/sup&gt;&lt;/b&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;As at
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+50bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income attributed to shareholders ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(600&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;600&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;(1,000&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;1,000&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&lt;font color="#1F320C"&gt;&lt;b&gt;As at
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;-20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;+20bp&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Net income attributed to shareholders ($ millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="top"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="top"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="top" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;&amp;#xA0;(100&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;400&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" align="right"&gt;
 &amp;#xA0;&amp;#xA0;&amp;#xA0;(400&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#E9EDF2" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; BORDER-TOP: rgb(233,237,242) 1px solid; FONT-FAMILY: ARIAL; BORDER-RIGHT: rgb(233,237,242) 1px solid; WHITE-SPACE: normal; WORD-SPACING: 0px; BORDER-BOTTOM: rgb(233,237,242) 1px solid; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; BORDER-LEFT: rgb(233,237,242) 1px solid; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;See &amp;#x201C;Caution Related to Sensitivities&amp;#x201D;
 above.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;The impact on net income attributed to shareholders
 assumes no gains or losses are realized on our AFS fixed income
 assets held in the Corporate and Other segment and excludes the
 impact of changes in segregated fund bond values due to changes in
 credit spreads. The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes in corporate and
 swap spreads.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Sensitivities are based on projected asset and
 liability cash flows.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Corporate spreads are assumed to grade to the
 long-term average over five years.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;As the sensitivity to a 50 basis point decline in
 corporate spreads includes the impact of a change in deterministic
 reinvestment scenarios where applicable, the impact of changes to
 corporate spreads for less than, or more than, the amounts
 indicated are unlikely to be linear.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td width="1%"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" width="2%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(6)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. Under
 LICAT, spread movements are determined from a selection of
 investment grade bond indices with BBB and better bonds for each
 jurisdiction. For LICAT, we use the following indices: FTSE TMX
 Canada All Corporate Bond Index, Barclays USD Liquid Investment
 Grade Corporate Index, and Nomura-BPI (Japan). The LICAT ratio is
 not applicable before January 1, 2018.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;
 &lt;/div&gt;</mfc:DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersArisingFromChangesToSpreadsExplanatory>
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  <ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3421773" id="id_14036987_D956AA3E-0B9B-41C3-BB13-855F663B67A3_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The changes in issued and outstanding preferred shares are as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="88%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 shares&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Amount&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 shares&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions)&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Amount&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;146&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;&amp;#xA0;&amp;#xA0;3,577&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;146&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;3,577&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issued, Class&amp;#xA0;1 shares, Series 25&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;10&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;250&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issuance costs, net of tax&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(5&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt" align="right"&gt;&lt;b&gt;156&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt"&gt;
 &lt;b&gt;$&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt" align="right"&gt;&lt;b&gt;3,822&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt" align="right"&gt;146&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt"&gt;
 $&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt" align="right"&gt;3,577&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;On February&amp;#xA0;20, 2018, MFC issued 10&amp;#xA0;million
 of &lt;font style="WHITE-SPACE: nowrap"&gt;Non-Cumulative&lt;/font&gt; Rate
 Reset Class&amp;#xA0;1 Shares Series 25 at a price of $25 per share for
 gross proceeds of $250.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory>
  <ifrs-full:IssueOfEquity contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3421773" decimals="-6" id="id_14036987_CB2DB43C-77D5-4D5B-9781-71FECCEA65F6_1001_1" unitRef="iso4217_CAD">250000000</ifrs-full:IssueOfEquity>
  <ifrs-full:ShareIssueRelatedCost contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3421773" decimals="-6" id="id_14036987_77E0BCFF-09E9-4DD9-8546-0C609D53DD59_1001_2" unitRef="iso4217_CAD">5000000</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3422519" id="id_14036987_412B36CD-BB5C-4C6E-A755-17101EE0FC09_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 The changes in common shares issued and outstanding are as
 follows.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="64%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="4"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="4" colspan="8"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"&gt;2017&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the years ended
 December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 shares&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;Amount&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Number&amp;#xA0;of&lt;br /&gt;
 shares&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;(in&amp;#xA0;millions)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;Amount&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,982&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;22,989&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,975&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;22,865&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Repurchased for cancellation&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(23&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(269&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issued under dividend reinvestment plan&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;9&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;182&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Issued on exercise of stock options and deferred share units&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;3&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;59&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;7&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right"&gt;124&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;1,971&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;22,961&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;1,982&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;22,989&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory>
  <ifrs-full:IncreaseDecreaseThroughExerciseOfOptions contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3422519" decimals="-6" id="id_14036987_59060C1E-0107-4B31-9035-644D5A2EDB14_1001_3" unitRef="iso4217_CAD">59000000</ifrs-full:IncreaseDecreaseThroughExerciseOfOptions>
  <mfc:IncreaseDecreaseThroughDividendReinvestmentAndSharePurchasePlan contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3422519" decimals="-6" id="id_14036987_CB2DB43C-77D5-4D5B-9781-71FECCEA65F6_2001_7" unitRef="iso4217_CAD">-182000000</mfc:IncreaseDecreaseThroughDividendReinvestmentAndSharePurchasePlan>
  <mfc:StockIssuedDuringPeriodValueDividendReinvestmentPlan1 contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3422519" decimals="-6" id="id_14036987_59060C1E-0107-4B31-9035-644D5A2EDB14_1001_2" unitRef="iso4217_CAD">182000000</mfc:StockIssuedDuringPeriodValueDividendReinvestmentPlan1>
  <mfc:StockRepurchasedDuringPeriodValue1 contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3422519" decimals="-6" id="id_14036987_59060C1E-0107-4B31-9035-644D5A2EDB14_1001_1" unitRef="iso4217_CAD">269000000</mfc:StockRepurchasedDuringPeriodValue1>
  <mfc:NumberOfSharesIssuedOnExerciseOfStockOptionsAndDeferredShareUnits contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3422519" decimals="-6" id="id_14036987_1D963713-A22F-49C5-AD05-E926674AD176_1001_3" unitRef="shares">3000000</mfc:NumberOfSharesIssuedOnExerciseOfStockOptionsAndDeferredShareUnits>
  <mfc:StockIssuedDuringPeriodSharesDividendReinvestmentPlan1 contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3422519" decimals="-6" id="id_14036987_1D963713-A22F-49C5-AD05-E926674AD176_1001_2" unitRef="shares">9000000</mfc:StockIssuedDuringPeriodSharesDividendReinvestmentPlan1>
  <mfc:RepurchaseOfCommonShares contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3422519" decimals="-6" id="id_14036987_CB2DB43C-77D5-4D5B-9781-71FECCEA65F6_2001_5" unitRef="shares">-269000000</mfc:RepurchaseOfCommonShares>
  <mfc:StockRepurchasedDuringPeriodShares1 contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3422519" decimals="-6" id="id_14036987_1D963713-A22F-49C5-AD05-E926674AD176_1001_1" unitRef="shares">-23000000</mfc:StockRepurchasedDuringPeriodShares1>
  <mfc:StockRepurchasedDuringPeriodValue1 contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3422519_3421584x3421490" decimals="-6" id="id_14036987_493A8F5B-59FF-4CC6-8D3C-C08FD53B6723_1002_3" unitRef="iso4217_CAD">269000000</mfc:StockRepurchasedDuringPeriodValue1>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479584" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2016_3">2022-03-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479584" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2016_1">2016-11-22</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479584" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_16_2" unitRef="pure">0.04850</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479584" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_1001_11" unitRef="pure">0.0383</mfc:PreferredSharesSpecifiedYieldPercentage>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479585" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2010_3">2023-03-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479585" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2010_1">2012-12-04</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479585" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_10_2" unitRef="pure">0.04731</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479585" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_2001_5" unitRef="pure">0.0261</mfc:PreferredSharesSpecifiedYieldPercentage>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479586" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2011_3">2023-09-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479586" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2011_1">2013-06-21</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479586" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_11_2" unitRef="pure">0.04414</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479586" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_3001_6" unitRef="pure">0.0222</mfc:PreferredSharesSpecifiedYieldPercentage>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479587" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2014_3">2020-03-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479587" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2014_1">2014-12-03</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479587" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_14_2" unitRef="pure">0.03800</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479587" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_4001_9" unitRef="pure">0.0230</mfc:PreferredSharesSpecifiedYieldPercentage>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479588" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2015_3">2021-06-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479588" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2015_1">2016-02-25</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479588" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_15_2" unitRef="pure">0.05600</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479588" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_5001_10" unitRef="pure">0.0497</mfc:PreferredSharesSpecifiedYieldPercentage>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479589" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2012_3">2019-06-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479589" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2012_1">2014-02-25</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479589" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_12_2" unitRef="pure">0.03900</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479589" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_6001_7" unitRef="pure">0.0216</mfc:PreferredSharesSpecifiedYieldPercentage>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479590" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2013_3">2019-12-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479590" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2013_1">2014-08-15</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479590" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_13_2" unitRef="pure">0.03900</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479590" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_7001_8" unitRef="pure">0.0236</mfc:PreferredSharesSpecifiedYieldPercentage>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479593" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2008_3">2022-03-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479593" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2008_1">2012-02-22</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479593" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_8_2" unitRef="pure">0.04312</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479593" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_8001_3" unitRef="pure">0.0313</mfc:PreferredSharesSpecifiedYieldPercentage>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479616" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2006_1">2016-06-20</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendRate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479616" id="id_14036987_CF7ACDFB-8B17-4ADA-B560-4792526567DC_1001_1">Floating</mfc:PreferenceSharesAnnualDividendRate>
  <mfc:BasisSpreadOnDividendYieldVariable contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479616_3421584x3421490" id="id_14036987_59DE6105-7F78-49DC-AEDC-128B9A31DF54_2001_2">Three-month Government of Canada Treasury bill yield plus 1.41%.</mfc:BasisSpreadOnDividendYieldVariable>
  <mfc:BasisSpreadOnDividendYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479616_3421584x3421490" decimals="4" id="id_14036987_59DE6105-7F78-49DC-AEDC-128B9A31DF54_2001_1" unitRef="pure">0.0141</mfc:BasisSpreadOnDividendYieldPercentage>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479617" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2007_3">2021-12-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479617" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2007_1">2011-12-06</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479617" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_7_2" unitRef="pure">0.03891</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479617" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_9001_2" unitRef="pure">0.0290</mfc:PreferredSharesSpecifiedYieldPercentage>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479620" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2002_1">2005-02-18</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479620" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2_2" unitRef="pure">0.04650</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479621" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2003_1">2006-01-03</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479621" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_3_2" unitRef="pure">0.04500</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479623" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2005_3">2021-06-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479623" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2005_1">2011-03-11</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479623" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_5_2" unitRef="pure">0.02178</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3479623" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_10001_1" unitRef="pure">0.0141</mfc:PreferredSharesSpecifiedYieldPercentage>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3529981" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2009_3">2022-09-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3529981" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2009_1">2012-05-24</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3529981" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_9_2" unitRef="pure">0.04351</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3529981" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_11001_4" unitRef="pure">0.0286</mfc:PreferredSharesSpecifiedYieldPercentage>
  <ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3536762" decimals="-6" id="id_14036987_66E6D48D-8E54-4400-A4ED-09AE93399D15_1001_1" unitRef="shares">10000000</ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding>
  <ifrs-full:IssueOfEquity contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3536762" decimals="-6" id="id_14036987_77E0BCFF-09E9-4DD9-8546-0C609D53DD59_2001_1" unitRef="iso4217_CAD">250000000</ifrs-full:IssueOfEquity>
  <mfc:PreferenceSharesEarliestRedemptionDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3536762" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2017_3">2023-06-19</mfc:PreferenceSharesEarliestRedemptionDate>
  <mfc:PreferredSharesIssueDate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3536762" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_2017_1">2018-02-20</mfc:PreferredSharesIssueDate>
  <mfc:PreferenceSharesAnnualDividendPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3536762" decimals="5" id="id_14036987_6D300FD8-84E8-4E0E-B7D9-4C4D229A6898_17_2" unitRef="pure">0.04700</mfc:PreferenceSharesAnnualDividendPercentage>
  <mfc:PreferredSharesSpecifiedYieldPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417439x3536762" decimals="4" id="id_14036987_DF216DAA-25DE-4E3C-B9D9-A92A0AD3DE5A_12001_12" unitRef="pure">0.0255</mfc:PreferredSharesSpecifiedYieldPercentage>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589" decimals="-6" id="id_14036987_C389A3BB-8E38-4DC1-B4B5-D81A55D5A2EB_1_2" unitRef="iso4217_CAD">-35000000</ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589" decimals="-6" id="id_14036987_C389A3BB-8E38-4DC1-B4B5-D81A55D5A2EB_1_3" unitRef="iso4217_CAD">250000000</ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589" decimals="-6" id="id_14036987_D31421F6-28AC-41AF-BBE3-108A8E0F03BC_1_2" unitRef="iso4217_CAD">157000000</ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset>
  <ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589" decimals="-6" id="id_14036987_C389A3BB-8E38-4DC1-B4B5-D81A55D5A2EB_1_6" unitRef="iso4217_CAD">-109000000</ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset>
  <ifrs-full:GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589" decimals="-6" id="id_14036987_204E6403-4AE0-400F-A7A7-B5908DE7554F_1_3" unitRef="iso4217_CAD">-9000000</ifrs-full:GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling>
  <ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589" decimals="-6" id="id_14036987_C389A3BB-8E38-4DC1-B4B5-D81A55D5A2EB_1_4" unitRef="iso4217_CAD">-315000000</ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3417644x3480154" decimals="-6" id="id_14036987_28720F85-31C1-488E-92E3-456A38DD19E9_1001_1" unitRef="iso4217_CAD">-42000000</ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset>
  <ifrs-full:EmployeeBenefitsExpense contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3417644x3480154" decimals="-6" id="id_14036987_28720F85-31C1-488E-92E3-456A38DD19E9_1001_9" unitRef="iso4217_CAD">156000000</ifrs-full:EmployeeBenefitsExpense>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3417644x3480154" decimals="-6" id="id_14036987_28720F85-31C1-488E-92E3-456A38DD19E9_1001_6" unitRef="iso4217_CAD">-12000000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3417644x3480154" decimals="-6" id="id_14036987_28720F85-31C1-488E-92E3-456A38DD19E9_1001_7" unitRef="iso4217_CAD">78000000</ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans>
  <ifrs-full:PastServiceCostAndGainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3417644x3480154" decimals="-6" id="id_14036987_28720F85-31C1-488E-92E3-456A38DD19E9_1001_5" unitRef="iso4217_CAD">-66000000</ifrs-full:PastServiceCostAndGainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:PostemploymentBenefitExpenseDefinedContributionPlans contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3417644x3480154" decimals="-6" id="id_14036987_28720F85-31C1-488E-92E3-456A38DD19E9_1001_8" unitRef="iso4217_CAD">78000000</ifrs-full:PostemploymentBenefitExpenseDefinedContributionPlans>
  <mfc:AdministrationCostsNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3417644x3480154" decimals="-6" id="id_14036987_28720F85-31C1-488E-92E3-456A38DD19E9_1001_2" unitRef="iso4217_CAD">-6000000</mfc:AdministrationCostsNetDefinedBenefitLiabilityAsset>
  <mfc:PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3417644x3480154" decimals="-6" id="id_14036987_28720F85-31C1-488E-92E3-456A38DD19E9_1001_3" unitRef="iso4217_CAD">8000000</mfc:PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset>
  <mfc:PastServiceCostCurtailmentsNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3417644x3480154" decimals="-6" id="id_14036987_28720F85-31C1-488E-92E3-456A38DD19E9_1001_4" unitRef="iso4217_CAD">-10000000</mfc:PastServiceCostCurtailmentsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3421612x3422145" decimals="-6" id="id_14036987_BFC03169-5C38-45C3-B60D-FE3F06C67024_1001_8" unitRef="iso4217_CAD">-35000000</ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3421612x3422145" decimals="-6" id="id_14036987_BFC03169-5C38-45C3-B60D-FE3F06C67024_1001_9" unitRef="iso4217_CAD">250000000</ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3421612x3422145" decimals="-6" id="id_14036987_BFC03169-5C38-45C3-B60D-FE3F06C67024_1001_5" unitRef="iso4217_CAD">1000000</ifrs-full:ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3417563x3422589_3421612x3422145" decimals="-6" id="id_14036987_BFC03169-5C38-45C3-B60D-FE3F06C67024_1001_1" unitRef="iso4217_CAD">42000000</ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset>
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  <ifrs-full:ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423080x3421944" id="id_14036987_5919B02D-657A-415E-9C0C-3EFFFDA3FD6A_1_0">&lt;div&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 The change in insurance contract liabilities was a result of the
 following business activities and changes in actuarial
 estimates.&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="60%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2018&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net&amp;#xA0;actuarial&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Other&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Reinsurance&lt;br /&gt;
 assets&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Gross&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;263,091&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,155&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;274,246&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;30,359&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;304,605&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 New policies&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,269&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,269&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;388&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,657&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Normal&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;movement&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;2,044&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;985&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;3,029&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(1,150&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,879&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in methods and assumptions&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(173&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;(1&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(174&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(608&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(782&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of annuity coinsurance transactions&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(11,156&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;(11,156&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;11,156&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"&gt;&lt;b&gt;&amp;#x2013;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;15,686&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;829&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;16,515&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2,780&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;19,295&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;272,761&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;12,968&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;285,729&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;42,925&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;328,654&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="16"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="16" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;For the year ended December&amp;#xA0;31,
 2017&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net actuarial&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Other&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Net&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Reinsurance&lt;br /&gt;
 assets&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"&gt;Gross&lt;br /&gt;
 insurance&lt;br /&gt;
 contract&lt;br /&gt;
 liabilities&lt;/p&gt;
 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Balance, January&amp;#xA0;1&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;251,738&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10,815&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;262,553&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;34,952&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;297,505&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 New policies&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,545&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,545&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;441&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;3,986&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Normal&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;movement&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;15,192&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;930&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;16,122&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(3,097&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;13,025&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Changes in methods and assumptions&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;305&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;(28&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;277&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;47&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;324&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of U.S. Tax Reform&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3),(4)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2,246&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Increase due to decision to change the portfolio asset mix
 supporting legacy businesses&lt;sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top"&gt;(3),(5)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,340&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap" align="right"&gt;&amp;#x2013;&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,340&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;43&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,383&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Impact of changes in foreign exchange rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(11,275&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(562&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(11,837&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(2,027&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right"&gt;(13,864&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"&gt;)&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Balance, December&amp;#xA0;31&lt;/b&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;263,091&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;11,155&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;274,246&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;30,359&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 $&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;304,605&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom"&gt;
 &lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &amp;quot;Times New Roman&amp;quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 2px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Other insurance contract liabilities are comprised of
 benefits payable and provision for unreported claims and
 policyholder amounts on deposit.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2018, the $2,907 increase reported as the change in
 insurance contract liabilities on the Consolidated Statements of
 Income primarily consists of changes due to normal in-force
 movement, new policies and changes in methods and assumptions.
 These three items in the gross insurance contract liabilities were
 netted off by an increase of $4,754, of which $3,632 is included in
 the Consolidated Statements of Income increase in insurance
 contract liabilities and $1,122 is included in gross claims and
 benefits. The Consolidated Statements of Income change in insurance
 contract liabilities also includes the change in embedded
 derivatives associated with insurance contracts. The Company
 finalized its estimate of U.S. Tax reform which resulted in a
 $196&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pre-tax&lt;/font&gt;&amp;#xA0;($154&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax)&lt;/font&gt;&amp;#xA0;increase
 in insurance contract liabilities, refer to note 5.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(3)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2017, the $20,023 increase reported as the change
 in insurance contract liabilities on the Consolidated Statements of
 Income primarily consists of changes due to
 normal&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;in-force&lt;/font&gt;&amp;#xA0;movement,
 new policies, changes in methods and assumptions, the impact of
 U.S. Tax Reform and the increase due to the decision to change the
 portfolio asset mix supporting legacy businesses. These five items
 in the gross insurance contract liabilities were netted off by an
 increase of $20,964, of which $20,212 is included in the
 Consolidated Statements of Income increase in insurance contract
 liabilities and $752 is included in gross claims and benefits. The
 Consolidated Statements of Income change in insurance contract
 liabilities also includes the change in embedded derivatives
 associated with insurance contracts.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(4)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2017, the impact of U.S. Tax Reform, which includes
 the lowering of the U.S. corporate tax rate from 35% to 21% and
 limits on the tax deductibility of reserves, resulted in a
 $2,246&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;pre-tax&lt;/font&gt;&amp;#xA0;($1,774&amp;#xA0;&lt;font style="WHITE-SPACE: nowrap"&gt;post-tax)&lt;/font&gt;&amp;#xA0;increase
 in policy liabilities due to the impact of temporary tax timing and
 permanent tax rate differences on the cash flows available to
 satisfy policyholder obligations. The $472 deferred tax impact on
 this increase in policy liabilities, together with the impact of
 U.S. Tax Reform on the Company&amp;#x2019;s deferred tax assets and
 liabilities is included in note&amp;#xA0;5.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="break-inside: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top"&gt;(5)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;In 2017, the decision to reduce the allocation to ALDA
 in the portfolio asset mix supporting the Company&amp;#x2019;s North
 American legacy businesses resulted in an increase in policy
 liabilities due to the impact on future expected investment income
 on assets supporting the policies.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory>
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  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479733" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1001_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479733" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1001_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479733" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1001_3">Leading Canadian-based financial services company that offers a diverse range of financial protection products and wealth management services</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479733" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1001_2">Toronto, Canada     </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479773" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1002_1">Manulife Holdings (Alberta) Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479773" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1002_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479773" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1002_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479773" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1002_3">Holding company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479773" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1002_2">Calgary, Canada</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479777" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1007_1">John Hancock Subsidiaries LLC</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479777" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1007_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479777" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1007_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479777" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1007_3">Holding company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479777" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1007_2">Wilmington, Delaware, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479778" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1008_1">John Hancock Financial Network, Inc.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479778" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1008_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479778" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1008_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479778" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1008_3">Financial services distribution organization</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479778" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1008_2">Boston, Massachusetts, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479779" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1009_1">John Hancock Advisers, LLC</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479779" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1009_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479779" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1009_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479779" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1009_3">Investment advisor </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479779" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1009_2">Boston, Massachusetts, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479780" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1010_1">John Hancock Funds, LLC</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479780" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1010_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479780" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1010_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479780" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1010_3">Broker-dealer </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479780" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1010_2">Boston, Massachusetts, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479781" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1003_1">John Hancock Financial Corporation</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479781" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1003_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479781" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1003_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479781" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1003_3">Holding company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479781" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1003_2">Wilmington, Delaware, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479782" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1004_1">The Manufacturers Investment Corporation</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479782" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1004_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479782" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1004_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479782" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1004_3">Holding company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479782" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1004_2">Michigan, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479784" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1006_1">John Hancock Life Insurance Company (U.S.A.)</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479784" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1006_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479784" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1006_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479784" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1006_3">U.S. life insurance company licensed in all states, except New York</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479784" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1006_2">Michigan, U.S.A.  </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479785" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1013_1">John Hancock Life Insurance Company of New York</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479785" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1013_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479785" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1013_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479785" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1013_3">U.S. life insurance company licensed in New York</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479785" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1013_2">New York, U.S.A. </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479786" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1015_1">John Hancock Life &amp; Health Insurance Company</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479786" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1015_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479786" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1015_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479786" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1015_3">U.S. life insurance company licensed in all states</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479786" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1015_2">Boston, Massachusetts, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479787" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1016_1">John Hancock Distributors LLC</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479787" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1016_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479787" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1016_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479787" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1016_3">Broker-dealer </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479787" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1016_2">Wilmington, Delaware, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479788" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1017_1">John Hancock Insurance Agency, Inc.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479788" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1017_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479788" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1017_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479788" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1017_3">Insurance agency </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479788" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1017_2">Wilmington, Delaware, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479791" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1033_1">Manulife (Cambodia) PLC</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479791" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1033_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479791" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1033_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479791" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1033_3">Life insurance company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479791" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1033_2">Phnom Penh, Cambodia</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479792" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1034_1">Manufacturers Life Reinsurance Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479792" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1034_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479792" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1034_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479792" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1034_3">Provides life and annuity reinsurance to affiliates</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479792" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1034_2">St. Michael, Barbados </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479793" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1035_1">Manulife (Vietnam) Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479793" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1035_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479793" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1035_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479793" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1035_3">Life insurance company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479793" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1035_2">Ho Chi Minh City, Vietnam</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479795" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1027_1">Manulife Property Limited Partnership II</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479795" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1027_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479795" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1027_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479795" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1027_3">Holds oil and gas royalties and foreign bonds and equities</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479795" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1027_2">Toronto, Canada  </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479797" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1029_1">Manulife Securities Investment Services Inc.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479797" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1029_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479797" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1029_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479797" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1029_3">Mutual fund dealer for Canadian operations</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479797" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1029_2">Oakville, Canada </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479799" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1030_1">Manulife Holdings (Bermuda) Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479799" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1030_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479799" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1030_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479799" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1030_3">Holding company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479799" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1030_2">Hamilton, Bermuda</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479801" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1031_1">Manufacturers P &amp; C Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479801" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1031_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479801" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1031_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479801" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1031_3">Provides property and casualty reinsurance</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479801" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1031_2">St. Michael, Barbados </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479802" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1026_1">Manulife Property Limited Partnership</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479802" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1026_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479802" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1026_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479802" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1026_3">Holds oil and gas royalties </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479802" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1026_2">Toronto, Canada </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479803" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1014_1">John Hancock Investment Management Services, LLC</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479803" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1014_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479803" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1014_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479803" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1014_3">Investment advisor </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479803" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1014_2">Boston, Massachusetts, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479805" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1028_1">Manulife Western Holdings Limited Partnership</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479805" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1028_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479805" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1028_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479805" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1028_3">Holds oil and gas properties</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479805" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1028_2">Calgary, Canada </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479808" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1018_1">Manulife Reinsurance Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479808" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1018_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479808" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1018_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479808" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1018_3">Provides life and financial reinsurance to affiliates</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479808" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1018_2">Hamilton, Bermuda </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479809" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1019_1">Manulife Reinsurance (Bermuda) Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479809" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1019_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479809" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1019_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479809" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1019_3">Provides life and annuity reinsurance to affiliates</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479809" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1019_2">Hamilton, Bermuda </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479810" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1020_1">Manulife Bank of Canada</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479810" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1020_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479810" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1020_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479810" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1020_3">Provides integrated banking products and service options not available from an insurance company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479810" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1020_2">Waterloo, Canada   </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479811" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1021_1">Manulife Asset Management Holdings (Canada) Inc.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479811" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1021_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479811" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1021_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479811" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1021_3">Holding company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479811" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1021_2">Toronto, Canada </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479812" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1022_1">Manulife Asset Management Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479812" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1022_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479812" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1022_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479812" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1022_3">Provides investment counseling, portfolio and mutual fund management in Canada</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479812" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1022_2">Toronto, Canada   </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479813" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1023_1">First North American Insurance Company</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479813" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1023_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479813" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1023_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479813" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1023_3">Property and casualty insurance company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479813" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1023_2">Toronto, Canada </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479814" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1024_1">NAL Resources Management Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479814" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1024_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479814" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1024_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479814" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1024_3">Management company for oil and gas properties</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479814" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1024_2">Calgary, Canada </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479815" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1025_1">Manulife Resources Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479815" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1025_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479815" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1025_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479815" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1025_3">Holds oil and gas properties</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479815" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1025_2">Calgary, Canada </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479816" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1044_1">Manulife Asset Management (Japan) Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479816" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1044_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479816" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1044_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479816" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1044_3">Investment management and advisory company and mutual fund business</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479816" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1044_2">Tokyo, Japan  </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479817" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1056_1">Manulife Asset Management (Europe) Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479817" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1056_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479817" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1056_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479817" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1056_3">Investment management company for Manulife Financial's international funds</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479817" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1056_2">London, England   </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479819" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1054_1">PT Asuransi Jiwa Manulife Indonesia</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479819" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1054_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479819" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1054_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479819" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1054_3">Life insurance company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479819" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1054_2">Jakarta, Indonesia</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479821" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1055_1">PT Manulife Aset Manajemen Indonesia</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479821" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1055_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479821" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1055_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479821" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1055_3">Investment management company marketing mutual funds and discretionary funds</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479821" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1055_2">Jakarta, Indonesia   </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479822" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1045_1">Manulife Insurance (Thailand) Public Company Limited (85.8%)(1)</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479822" decimals="4" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1045_1" unitRef="pure">0.8580</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479822" decimals="3" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1045_2" unitRef="pure">0.858</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479822" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1045_3">Life insurance company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479822" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1045_2">Bangkok, Thailand </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479823" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1046_1">Manulife Asset Management (Thailand) Company Limited (93.6%)(1)</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479823" decimals="4" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1046_1" unitRef="pure">0.9270</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479823" decimals="3" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1046_2" unitRef="pure">0.927</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479823" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1046_3">Investment management company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479823" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1046_2">Bangkok, Thailand </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479824" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1047_1">Manulife Holdings Berhad (59.5%)</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479824" decimals="4" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1047_1" unitRef="pure">0.5950</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479824" decimals="3" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1047_2" unitRef="pure">0.595</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479824" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1047_3">Holding company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479824" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1047_2">Kuala Lumpur, Malaysia</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479825" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1048_1">Manulife Insurance Berhad (59.5%)</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479825" decimals="4" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1048_1" unitRef="pure">0.5950</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479825" decimals="3" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1048_2" unitRef="pure">0.595</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479825" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1048_3">Life insurance company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479825" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1048_2">Kuala Lumpur, Malaysia</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479826" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1049_1">Manulife Asset Management Services Berhad (59.5%)</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479826" decimals="4" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1049_1" unitRef="pure">0.5950</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479826" decimals="3" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1049_2" unitRef="pure">0.595</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479826" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1049_3">Asset management company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479826" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1049_2">Kuala Lumpur, Malaysia</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479828" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1050_1">Manulife (Singapore) Pte. Ltd.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479828" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1050_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479828" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1050_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479828" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1050_3">Life insurance company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479828" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1050_2">Singapore</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479829" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1051_1">Manulife Asset Management (Singapore) Pte. Ltd.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479829" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1051_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479829" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1051_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479829" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1051_3">Asset management company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479829" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1051_2">Singapore </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479831" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1039_1">Manulife-Sinochem Life Insurance Co. Ltd. (51%)</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479831" decimals="4" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1039_1" unitRef="pure">0.5100</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479831" decimals="3" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1039_2" unitRef="pure">0.510</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479831" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1039_3">Life insurance company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479831" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1039_2">Shanghai, China </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479832" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1037_1">Manulife International Holdings Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479832" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1037_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479832" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1037_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479832" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1037_3">Holding company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479832" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1037_2">Hong Kong, China</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479833" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1038_1">Manulife (International) Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479833" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1038_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479833" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1038_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479833" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1038_3">Life insurance company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479833" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1038_2">Hong Kong, China</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479835" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1032_1">Manulife Financial Asia Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479835" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1032_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479835" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1032_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479835" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1032_3">Holding company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479835" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1032_2">Hong Kong, China</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479836" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1040_1">Manulife Asset Management International Holdings Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479836" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1040_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479836" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1040_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479836" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1040_3">Holding company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479836" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1040_2">Hong Kong, China </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479837" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1041_1">Manulife Asset Management (Hong Kong) Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479837" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1041_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479837" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1041_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479837" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1041_3">Investment management and advisory company marketing mutual funds</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479837" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1041_2">Hong Kong, China  </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479838" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1042_1">Manulife Asset Management (Taiwan) Co. Ltd.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479838" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1042_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479838" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1042_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479838" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1042_3">Asset management company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479838" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1042_2">Taipei, Taiwan (China)</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479839" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1043_1">Manulife Life Insurance Company</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479839" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1043_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479839" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1043_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479839" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1043_3">Life insurance company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479839" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1043_2">Tokyo, Japan</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479840" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1059_1">Berkshire Insurance Services Inc.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479840" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1059_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479840" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1059_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479840" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1059_3">Investment holding company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479840" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1059_2">Toronto, Canada</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479841" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1060_1">JH Investments (Delaware) LLC</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479841" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1060_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479841" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1060_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479841" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1060_3">Investment holding company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479841" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1060_2">Boston, Massachusetts, U.S.A.</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479842" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1061_1">Manulife Securities Incorporated</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479842" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1061_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479842" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1061_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479842" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1061_3">Investment dealer</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479842" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1061_2">Oakville, Canada</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479843" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1062_1">Manulife Asset Management (North America) Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479843" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1062_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479843" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1062_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479843" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1062_3">Investment advisor </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479843" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1062_2">Toronto, Canada </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479844" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1063_1">Regional Power Inc.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479844" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1063_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479844" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1063_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479844" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1063_3">Developer and operator of hydro-electric power projects</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479844" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1063_2">Mississauga, Canada  </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479845" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1005_1">John Hancock Reassurance Company Ltd. U.S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479845" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1005_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479845" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1005_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479845" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1005_3">Captive insurance subsidiary that provides life, annuity and long-term care reinsurance to affiliates</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479845" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1005_2">Michigan, U.S.A.    </mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479852" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1058_1">EIS Services (Bermuda) Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479852" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1058_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479852" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1058_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479852" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1058_3">Investment holding company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3479852" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1058_2">Hamilton, Bermuda</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3529678" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1036_1">Manulife Asset Management (Vietnam) Company Limited</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3529678" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1036_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3529678" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1036_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3529678" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1036_3">Fund management company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3529678" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1036_2">Ho Chi Minh City, Vietnam</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3530404" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1052_1">The Manufacturers Life Insurance Co. (Phils.), Inc.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3530404" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1052_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3530404" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1052_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3530404" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1052_3">Life insurance company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3530404" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1052_2">Makati City, Philippines</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3530788" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1053_1">Manulife Chinabank Life Assurance Corporation (60%)</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3530788" decimals="4" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1053_1" unitRef="pure">0.6000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3530788" decimals="3" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1053_2" unitRef="pure">0.600</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3530788" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1053_3">Life insurance company </mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3530788" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1053_2">Makati City, Philippines</mfc:AddressOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3531066" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1057_1">Manulife Assurance Company of Canada</ifrs-full:NameOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3531066" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1057_1" unitRef="pure">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3531066" decimals="INF" id="id_14036987_16FAE164-72EC-4573-ACBD-681EF410B30D_1057_2" unitRef="pure">1.000</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
  <mfc:DescriptionOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3531066" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1057_3">Life insurance company</mfc:DescriptionOfSubsidiary>
  <mfc:AddressOfSubsidiary contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423286x3531066" id="id_14036987_4FDAE982-4E26-4C18-9FC9-A4D28781ABB1_1057_2">Toronto, Canada</mfc:AddressOfSubsidiary>
  <mfc:DecreaseInMortalityRate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423303x3416717" decimals="2" id="id_14036987_3FACB464-077B-46AB-8044-8355FD9C4A20_2_3" unitRef="pure">0.10</mfc:DecreaseInMortalityRate>
  <mfc:DecreaseInMortalityRate contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423303x3424474" decimals="2" id="id_14036987_3FACB464-077B-46AB-8044-8355FD9C4A20_1_3" unitRef="pure">0.10</mfc:DecreaseInMortalityRate>
  <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423404x3486570" decimals="3" id="id_14036987_DE3DE82B-9057-40C7-86A0-608AE8C90B17_1001_3" unitRef="pure">0.280</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
  <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423404x3486570" decimals="4" id="id_14036987_DE3DE82B-9057-40C7-86A0-608AE8C90B17_1001_1" unitRef="pure">0.0200</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
  <ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423404x3486570" decimals="4" id="id_14036987_DE3DE82B-9057-40C7-86A0-608AE8C90B17_1001_2" unitRef="pure">0.0325</ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted>
  <mfc:ExpectedLifeOfShareAwards contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423404x3486570" id="id_14036987_DE3DE82B-9057-40C7-86A0-608AE8C90B17_1001_4">P6Y3M18D</mfc:ExpectedLifeOfShareAwards>
  <ifrs-full:ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_9" unitRef="iso4217_CAD">-37000000</ifrs-full:ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries>
  <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_14" unitRef="iso4217_CAD">-504000000</ifrs-full:IncomeTaxExpenseContinuingOperations>
  <ifrs-full:InterestExpense contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_10" unitRef="iso4217_CAD">583000000</ifrs-full:InterestExpense>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_18" unitRef="iso4217_CAD">-1185000000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossBeforeTax contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_13" unitRef="iso4217_CAD">-1683000000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:OtherRevenue contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_5" unitRef="iso4217_CAD">-328000000</ifrs-full:OtherRevenue>
  <ifrs-full:NetEarnedPremium contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_3" unitRef="iso4217_CAD">98000000</ifrs-full:NetEarnedPremium>
  <ifrs-full:OtherExpenseByNature contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_11" unitRef="iso4217_CAD">682000000</ifrs-full:OtherExpenseByNature>
  <ifrs-full:Revenue contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_6" unitRef="iso4217_CAD">-455000000</ifrs-full:Revenue>
  <ifrs-full:ProfitLoss contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_15" unitRef="iso4217_CAD">-1179000000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_16" unitRef="iso4217_CAD">6000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:RevenueFromContractsWithCustomers contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_8EC5FB68-01D6-4FE8-A9FD-BEA70F7289B4_8005_6" unitRef="iso4217_CAD">-256000000</ifrs-full:RevenueFromContractsWithCustomers>
  <mfc:NetInvestmentIncomeLoss contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_4" unitRef="iso4217_CAD">-225000000</mfc:NetInvestmentIncomeLoss>
  <mfc:BenefitsExpenseArisingFromInsuranceContracts contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042" decimals="-6" id="id_14036987_CB98E452-C0E0-4601-A945-BA4F08D75EC3_7005_12" unitRef="iso4217_CAD">1228000000</mfc:BenefitsExpenseArisingFromInsuranceContracts>
  <ifrs-full:RevenueFromContractsWithCustomers contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3424042_3475558x3481422" decimals="-6" id="id_14036987_8EC5FB68-01D6-4FE8-A9FD-BEA70F7289B4_13005_4" unitRef="iso4217_CAD">-266000000</ifrs-full:RevenueFromContractsWithCustomers>
  <ifrs-full:RevenueFromContractsWithCustomers contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3536730" decimals="-6" id="id_14036987_8EC5FB68-01D6-4FE8-A9FD-BEA70F7289B4_8004_6" unitRef="iso4217_CAD">5468000000</ifrs-full:RevenueFromContractsWithCustomers>
  <ifrs-full:RevenueFromContractsWithCustomers contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3423661x3536730_3475558x3481422" decimals="-6" id="id_14036987_8EC5FB68-01D6-4FE8-A9FD-BEA70F7289B4_13004_4" unitRef="iso4217_CAD">5468000000</ifrs-full:RevenueFromContractsWithCustomers>
  <mfc:GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424036x3416907" decimals="-6" id="id_14036987_A8E7BAF1-4830-43B1-85AC-593D178736C1_1007_2" unitRef="iso4217_CAD">4000000</mfc:GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome>
  <mfc:GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424036x3416907" decimals="-6" id="id_14036987_A8E7BAF1-4830-43B1-85AC-593D178736C1_1007_1" unitRef="iso4217_CAD">-5000000</mfc:GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives>
  <mfc:IneffectivenessRecognizedInInvestmentIncome contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424036x3416907" decimals="-6" id="id_14036987_A8E7BAF1-4830-43B1-85AC-593D178736C1_1007_3" unitRef="iso4217_CAD">0</mfc:IneffectivenessRecognizedInInvestmentIncome>
  <ifrs-full:GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424036x3419376" decimals="-6" id="id_14036987_30702BF5-DB8F-4413-84C2-D47C85D3584E_1004_2" unitRef="iso4217_CAD">-9000000</ifrs-full:GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness>
  <ifrs-full:GainLossOnHedgeIneffectiveness contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424036x3419376" decimals="-6" id="id_14036987_30702BF5-DB8F-4413-84C2-D47C85D3584E_1004_3" unitRef="iso4217_CAD">2000000</ifrs-full:GainLossOnHedgeIneffectiveness>
  <ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424036x3419376" decimals="-6" id="id_14036987_30702BF5-DB8F-4413-84C2-D47C85D3584E_1004_1" unitRef="iso4217_CAD">11000000</ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives>
  <mfc:GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424036x3420590" decimals="-6" id="id_14036987_36366BAE-E016-4D78-AE73-788C92F42CA8_1003_2" unitRef="iso4217_CAD">0</mfc:GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome>
  <mfc:GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424036x3420590" decimals="-6" id="id_14036987_36366BAE-E016-4D78-AE73-788C92F42CA8_1003_1" unitRef="iso4217_CAD">-460000000</mfc:GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives>
  <mfc:IneffectivenessRecognizedInInvestmentIncome contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424036x3420590" decimals="-6" id="id_14036987_36366BAE-E016-4D78-AE73-788C92F42CA8_1003_3" unitRef="iso4217_CAD">0</mfc:IneffectivenessRecognizedInInvestmentIncome>
  <mfc:ProductDesignAndPricingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3417893" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_4_0">Yes</mfc:ProductDesignAndPricingRiskManagementStrategy>
  <mfc:MacroEquityRiskHedgingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3417893" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_4_2">Yes</mfc:MacroEquityRiskHedgingRiskManagementStrategy>
  <mfc:AssetLiabilityManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3417893" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_4_3">Yes</mfc:AssetLiabilityManagementRiskManagementStrategy>
  <mfc:ForeignExchangeManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3417893" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_4_4">Yes</mfc:ForeignExchangeManagementRiskManagementStrategy>
  <mfc:VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3417893" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_4_1">Yes</mfc:VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy>
  <mfc:LiquidityRiskManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3417893" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_4_5">No</mfc:LiquidityRiskManagementRiskManagementStrategy>
  <mfc:ProductDesignAndPricingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421384" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_2_0">Yes</mfc:ProductDesignAndPricingRiskManagementStrategy>
  <mfc:MacroEquityRiskHedgingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421384" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_2_2">No</mfc:MacroEquityRiskHedgingRiskManagementStrategy>
  <mfc:AssetLiabilityManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421384" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_2_3">Yes</mfc:AssetLiabilityManagementRiskManagementStrategy>
  <mfc:ForeignExchangeManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421384" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_2_4">No</mfc:ForeignExchangeManagementRiskManagementStrategy>
  <mfc:VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421384" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_2_1">Yes</mfc:VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy>
  <mfc:LiquidityRiskManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421384" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_2_5">No</mfc:LiquidityRiskManagementRiskManagementStrategy>
  <mfc:ProductDesignAndPricingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421474" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_5_0">Yes</mfc:ProductDesignAndPricingRiskManagementStrategy>
  <mfc:MacroEquityRiskHedgingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421474" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_5_2">Yes</mfc:MacroEquityRiskHedgingRiskManagementStrategy>
  <mfc:AssetLiabilityManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421474" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_5_3">Yes</mfc:AssetLiabilityManagementRiskManagementStrategy>
  <mfc:ForeignExchangeManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421474" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_5_4">Yes</mfc:ForeignExchangeManagementRiskManagementStrategy>
  <mfc:VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421474" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_5_1">Yes</mfc:VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy>
  <mfc:LiquidityRiskManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3421474" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_5_5">Yes</mfc:LiquidityRiskManagementRiskManagementStrategy>
  <mfc:IncreaseDecreaseInNetIncomeAttributableToShareholders contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3476170" decimals="-6" id="id_14036987_493ABB7D-0EB4-4DA4-B751-B2BF85908F6C_1001_1" unitRef="iso4217_USD">100000000</mfc:IncreaseDecreaseInNetIncomeAttributableToShareholders>
  <mfc:IncreaseDecreaseInNetIncomeAttributableToShareholders contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3476171" decimals="-6" id="id_14036987_493ABB7D-0EB4-4DA4-B751-B2BF85908F6C_2001_2" unitRef="iso4217_USD">100000000</mfc:IncreaseDecreaseInNetIncomeAttributableToShareholders>
  <ifrs-full:DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3479674" id="id_14036987_EB2DE41B-FD9A-4ABA-9AA7-458076B3342D_1_0">&lt;div&gt;
 &lt;table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"&gt;
 &lt;tr&gt;
 &lt;td width="93%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="1%"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 1pt"&gt;
 &lt;td height="5"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;td height="5" colspan="4"&gt;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"&gt;2017&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Debt securities and private placements rated as investment grade
 BBB or higher&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;98%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;98%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Government debt securities as a per cent of total debt
 securities&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;38%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;39%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Government private placements as a per cent of total private
 placements&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;11%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;10%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Highest exposure to a single &lt;font style="WHITE-SPACE: nowrap"&gt;non-government&lt;/font&gt; debt security and
 private placement issuer&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;1,013&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;1,044&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Largest single issuer as a per cent of the total equity
 portfolio&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;2%&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;2%&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Income producing commercial office properties (2018 &amp;#x2013; 55% of
 real estate, 2017 &amp;#x2013; 64%)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;7,065&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td valign="bottom"&gt;$&lt;/td&gt;
 &lt;td valign="bottom" align="right"&gt;8,836&lt;/td&gt;
 &lt;td valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 Largest concentration of mortgages and real estate&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt; &amp;#x2013; Ontario
 Canada (2018 &amp;#x2013; 26%, 2017 &amp;#x2013; 25%)&lt;/p&gt;
 &lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"&gt;&lt;b&gt;&amp;#xA0;&amp;#xA0;16,092&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;
 &amp;#xA0;&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom"&gt;$&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"&gt;&amp;#xA0;&amp;#xA0;14,779&lt;/td&gt;
 &lt;td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt"&gt;
 &amp;#xA0;&lt;/p&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(1)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Investment grade debt securities and private
 placements include 41% rated A, 17% rated AA and 17% rated AAA
 (2017 &amp;#x2013; 42%, 16% and 17%) investments based on external
 ratings where available.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
 &lt;tr style="PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top" width="1%" align="left"&gt;&lt;sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top"&gt;(2)&lt;/sup&gt;&lt;/td&gt;
 &lt;td valign="top" align="left"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"&gt;Mortgages and real estate investments are diversified
 geographically and by property type.&lt;/p&gt;
 &lt;/td&gt;
 &lt;/tr&gt;
 &lt;/table&gt;
 &lt;/div&gt;</ifrs-full:DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory>
  <mfc:DebtSecuritiesAndPrivatePlacementsInvestmentPercentage contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3479674" decimals="2" id="id_14036987_B7AF52C9-6B05-49C1-B29B-87A49DC73BE5_1001_0" unitRef="pure">0.98</mfc:DebtSecuritiesAndPrivatePlacementsInvestmentPercentage>
  <mfc:ProductDesignAndPricingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489468" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_1_0">Yes</mfc:ProductDesignAndPricingRiskManagementStrategy>
  <mfc:MacroEquityRiskHedgingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489468" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_1_2">Yes</mfc:MacroEquityRiskHedgingRiskManagementStrategy>
  <mfc:AssetLiabilityManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489468" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_1_3">Yes</mfc:AssetLiabilityManagementRiskManagementStrategy>
  <mfc:ForeignExchangeManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489468" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_1_4">No</mfc:ForeignExchangeManagementRiskManagementStrategy>
  <mfc:VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489468" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_1_1">Yes</mfc:VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy>
  <mfc:LiquidityRiskManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489468" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_1_5">No</mfc:LiquidityRiskManagementRiskManagementStrategy>
  <mfc:ProductDesignAndPricingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489469" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_3_0">Yes</mfc:ProductDesignAndPricingRiskManagementStrategy>
  <mfc:MacroEquityRiskHedgingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489469" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_3_2">No</mfc:MacroEquityRiskHedgingRiskManagementStrategy>
  <mfc:AssetLiabilityManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489469" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_3_3">Yes</mfc:AssetLiabilityManagementRiskManagementStrategy>
  <mfc:ForeignExchangeManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489469" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_3_4">No</mfc:ForeignExchangeManagementRiskManagementStrategy>
  <mfc:VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489469" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_3_1">No</mfc:VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy>
  <mfc:LiquidityRiskManagementRiskManagementStrategy contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489469" id="id_14036987_AE98F7BD-324F-437B-9444-1B6BEACAE7D8_3_5">No</mfc:LiquidityRiskManagementRiskManagementStrategy>
  <mfc:SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489474" decimals="-6" id="id_14036987_90D77195-19CA-48C9-870D-A34C19C53979_1_0" unitRef="iso4217_CAD">-100000000</mfc:SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets>
  <mfc:SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489474" decimals="-6" id="id_14036987_90D77195-19CA-48C9-870D-A34C19C53979_1_1" unitRef="iso4217_CAD">1600000000</mfc:SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets>
  <mfc:SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489476" decimals="-6" id="id_14036987_90D77195-19CA-48C9-870D-A34C19C53979_2_0" unitRef="iso4217_CAD">100000000</mfc:SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets>
  <mfc:SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424456x3489476" decimals="-6" id="id_14036987_90D77195-19CA-48C9-870D-A34C19C53979_2_1" unitRef="iso4217_CAD">-1500000000</mfc:SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets>
  <ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424457x3479977" decimals="-6" id="id_14036987_F3C13190-F459-495E-8E86-6330F0E3A22B_1002_4" unitRef="iso4217_CAD">111000000</ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees>
  <ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424457x3479977" decimals="-5" id="id_14036987_3D0471F7-2C51-493C-B913-F4012BE79E04_1001_0" unitRef="pure">5500000</ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted>
  <mfc:FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424457x3479977" decimals="2" id="id_14036987_3D0471F7-2C51-493C-B913-F4012BE79E04_1001_2" unitRef="iso4217_CAD_per_shares">19.37</mfc:FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement>
  <ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424457x3479982" decimals="-6" id="id_14036987_F3C13190-F459-495E-8E86-6330F0E3A22B_2002_5" unitRef="iso4217_CAD">14000000</ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees>
  <ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424457x3479982" decimals="-5" id="id_14036987_3D0471F7-2C51-493C-B913-F4012BE79E04_2001_1" unitRef="pure">800000</ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted>
  <mfc:FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424457x3479982" decimals="2" id="id_14036987_3D0471F7-2C51-493C-B913-F4012BE79E04_2001_3" unitRef="iso4217_CAD_per_shares">19.37</mfc:FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement>
  <ifrs-full:ExplanationOfShareOptionsInSharebasedPaymentArrangement contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424457x3480119" id="id_14036987_8FB32B06-B671-44C0-9B2F-2717E7DE5198_2001_0">The options provide the holder the right to purchase MFC common shares at an exercise price equal to the higher of the prior day, prior five-day or prior ten-day average closing market price of the shares on the Toronto Stock Exchange on the date the options are granted.</ifrs-full:ExplanationOfShareOptionsInSharebasedPaymentArrangement>
  <mfc:NumberOfOtherEquityInstrumentsIssuedInSharebasedPaymentArrangement contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424457x3495058" decimals="INF" id="id_14036987_3DFFCD0B-BDCF-4EED-9F38-2B5E213B0B08_1001_2" unitRef="pure">0</mfc:NumberOfOtherEquityInstrumentsIssuedInSharebasedPaymentArrangement>
  <mfc:NumberOfCommonSharesToBeReceivedOfPlanOnRetirementOrTermination contextRef="eol_PE98036---1840-F0007_STD_365_20181231_0_3424457x3495058" decimals="INF" id="id_14036987_3DFFCD0B-BDCF-4EED-9F38-2B5E213B0B08_1001_1" unitRef="shares">1</mfc:NumberOfCommonSharesToBeReceivedOfPlanOnRetirementOrTermination>
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 &lt;font color="#1F320C"&gt;&lt;b&gt;Potential impact on net income attributed
 to shareholders arising from changes to &lt;font style="WHITE-SPACE: nowrap"&gt;non-economic&lt;/font&gt; assumptions for Long-Term
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 &lt;tr&gt;
 &lt;td width="91%"&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="4%"&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td&gt;&lt;/td&gt;
 &lt;td valign="bottom" width="3%"&gt;&lt;/td&gt;
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 &lt;font color="#1F320C"&gt;&lt;b&gt;As at December&amp;#xA0;31,
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 &lt;td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
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 &lt;p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left"&gt;&amp;#xA0;&lt;/p&gt;
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 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 &lt;b&gt;Policy related assumptions&lt;/b&gt;&lt;/p&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;/td&gt;
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 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 2% adverse change in future mortality rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" align="right"&gt;
 &lt;b&gt;$&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;(200&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid"&gt;
 &lt;td valign="top"&gt;
 &lt;p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"&gt;
 5% adverse change in future morbidity incidence rates&lt;/p&gt;
 &lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 &lt;b&gt;(1,700&lt;/b&gt;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"&gt;
 &lt;b&gt;)&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 5% adverse change in future morbidity claims termination rates&lt;/p&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 10% adverse change in future policy termination rates&lt;/p&gt;
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 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
 &lt;td bgcolor="#DDE0DA" valign="bottom"&gt;&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/td&gt;
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 from the Company&amp;#x2019;s ability to contractually raise premium
 rates in such events, subject to state regulatory approval. In
 practice, the Company would plan to file for rate increases equal
 to the amount of deterioration resulting from the
 sensitivities.&lt;/p&gt;
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  <element name="CashCashAndCashEquivalentsAndCurrentAssetsMember" id="mfc_CashCashAndCashEquivalentsAndCurrentAssetsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CDSCreditMember" id="mfc_CDSCreditMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CededPremiums" id="mfc_CededPremiums" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangeInGrossInsuranceContractLiabilities" id="mfc_ChangeInGrossInsuranceContractLiabilities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangeInInsuranceContractLiabilities" id="mfc_ChangeInInsuranceContractLiabilities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangeInInvestmentBrokerNetReceivablesAndPayables" id="mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInMethodsAndAssumptionsInInsuranceContracts" id="mfc_ChangesInMethodsAndAssumptionsInInsuranceContracts" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInPolicyRelatedAndOperatingReceivablesAndPayables" id="mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsDepositsFromPolicyholders" id="mfc_ChangesInSegregatedFundsNetAssetsDepositsFromPolicyholders" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsImpactOfChangesInForeignExchangeRates" id="mfc_ChangesInSegregatedFundsNetAssetsImpactOfChangesInForeignExchangeRates" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsInterestAndDividends" id="mfc_ChangesInSegregatedFundsNetAssetsInterestAndDividends" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsInvestmentRelated" id="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelated" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsInvestmentRelatedAbstract" id="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelatedAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsManagementAndAdministrationFees" id="mfc_ChangesInSegregatedFundsNetAssetsManagementAndAdministrationFees" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsNetAdditionsDeductions" id="mfc_ChangesInSegregatedFundsNetAssetsNetAdditionsDeductions" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlow" id="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlow" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlowAbstract" id="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlowAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsNetRealizedAndUnrealizedInvestmentGainsLosses" id="mfc_ChangesInSegregatedFundsNetAssetsNetRealizedAndUnrealizedInvestmentGainsLosses" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsNetTransfersToGeneralFund" id="mfc_ChangesInSegregatedFundsNetAssetsNetTransfersToGeneralFund" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsOther" id="mfc_ChangesInSegregatedFundsNetAssetsOther" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsOtherAbstract" id="mfc_ChangesInSegregatedFundsNetAssetsOtherAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ChangesInSegregatedFundsNetAssetsPaymentsToPolicyholders" id="mfc_ChangesInSegregatedFundsNetAssetsPaymentsToPolicyholders" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassASharesSeriesThreeMember" id="mfc_ClassASharesSeriesThreeMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassASharesSeriesTwoMember" id="mfc_ClassASharesSeriesTwoMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesElevenPreferredSharesMember" id="mfc_ClassOneSeriesElevenPreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesFifteenPreferredSharesMember" id="mfc_ClassOneSeriesFifteenPreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesFivePreferredSharesMember" id="mfc_ClassOneSeriesFivePreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesFourPreferredSharesMember" id="mfc_ClassOneSeriesFourPreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesNinePreferredSharesMember" id="mfc_ClassOneSeriesNinePreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesNineteenPreferredSharesMember" id="mfc_ClassOneSeriesNineteenPreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesSevenPreferredSharesMember" id="mfc_ClassOneSeriesSevenPreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesSeventeenPreferredSharesMember" id="mfc_ClassOneSeriesSeventeenPreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesThirteenPreferredSharesMember" id="mfc_ClassOneSeriesThirteenPreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesThreePreferredSharesMember" id="mfc_ClassOneSeriesThreePreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesTwentyFivePreferredSharesMember" id="mfc_ClassOneSeriesTwentyFivePreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesTwentyOnePreferredSharesMember" id="mfc_ClassOneSeriesTwentyOnePreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSeriesTwentyThreePreferredSharesMember" id="mfc_ClassOneSeriesTwentyThreePreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesElevenMember" id="mfc_ClassOneSharesSeriesElevenMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesFifteenMember" id="mfc_ClassOneSharesSeriesFifteenMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesFiveMember" id="mfc_ClassOneSharesSeriesFiveMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesFourMember" id="mfc_ClassOneSharesSeriesFourMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesNineMember" id="mfc_ClassOneSharesSeriesNineMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesNineteenMember" id="mfc_ClassOneSharesSeriesNineteenMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesSevenMember" id="mfc_ClassOneSharesSeriesSevenMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesSeventeenMember" id="mfc_ClassOneSharesSeriesSeventeenMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesThirteenMember" id="mfc_ClassOneSharesSeriesThirteenMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesThreeMember" id="mfc_ClassOneSharesSeriesThreeMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesTwentyFiveMember" id="mfc_ClassOneSharesSeriesTwentyFiveMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesTwentyOneMember" id="mfc_ClassOneSharesSeriesTwentyOneMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassOneSharesSeriesTwentyThreeMember" id="mfc_ClassOneSharesSeriesTwentyThreeMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassSeriesThreePreferredSharesMember" id="mfc_ClassSeriesThreePreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClassSeriesTwoPreferredSharesMember" id="mfc_ClassSeriesTwoPreferredSharesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ClearedSwapContractsMember" id="mfc_ClearedSwapContractsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CMBSecuritizationMember" id="mfc_CMBSecuritizationMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CoinsuranceAgreementsPercentage" id="mfc_CoinsuranceAgreementsPercentage" type="num:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CoinsuranceTransactionAfterTaxGain" id="mfc_CoinsuranceTransactionAfterTaxGain" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CoinsuranceTransactionAfterTaxLoss" id="mfc_CoinsuranceTransactionAfterTaxLoss" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CommercialMortgageAssetbackedSecuritiesMember" id="mfc_CommercialMortgageAssetbackedSecuritiesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CommercialMortgageBackedSecurities1Member" id="mfc_CommercialMortgageBackedSecurities1Member" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CommercialMortgagesAndPrivatePlacementsMember" id="mfc_CommercialMortgagesAndPrivatePlacementsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CommercialMortgagesMember" id="mfc_CommercialMortgagesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CommissionsInvestmentAndGeneralExpenses" id="mfc_CommissionsInvestmentAndGeneralExpenses" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CommitmentAndContingenciesAbstract" id="mfc_CommitmentAndContingenciesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CompositionOfSegregatedFundsNetAssetsAbstract" id="mfc_CompositionOfSegregatedFundsNetAssetsAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ComprehensiveIncomeAttributableToParticipatingPolicyholders" id="mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ConcentrationsOfInsuranceRisk" id="mfc_ConcentrationsOfInsuranceRisk" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ConsolidatedCapital" id="mfc_ConsolidatedCapital" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ConsolidatingAdjustmentsMember" id="mfc_ConsolidatingAdjustmentsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ConsolidationAdjustmentsMember" id="mfc_ConsolidationAdjustmentsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ContractBenefitsAndExpensesToContractHoldersAndBeneficiaries" id="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiaries" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ContractBenefitsAndExpensesToContractHoldersAndBeneficiariesAbstract" id="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiariesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ContractLiabilitiesInGrossClaimsAndBenefits" id="mfc_ContractLiabilitiesInGrossClaimsAndBenefits" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ContractualMaturitiesAssumptionsAxis" id="mfc_ContractualMaturitiesAssumptionsAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem"/>
  <element name="ContractualMaturitiesAssumptionsDomain" id="mfc_ContractualMaturitiesAssumptionsDomain" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ContractualObligationsAndCommitmentsInvestmentContracts" id="mfc_ContractualObligationsAndCommitmentsInvestmentContracts" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ContributionsFromDistributionsToNoncontrollingInterests" id="mfc_ContributionsFromDistributionsToNoncontrollingInterests" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ContributionsNetNoncontrollingInterests" id="mfc_ContributionsNetNoncontrollingInterests" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CorporateAndSwapSpreadsMember" id="mfc_CorporateAndSwapSpreadsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CorporateDebtMember" id="mfc_CorporateDebtMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CorporateMember" id="mfc_CorporateMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CorporateSpreadAssumptionsMember" id="mfc_CorporateSpreadAssumptionsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CorporateSpreadsMember" id="mfc_CorporateSpreadsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CreditDefaultSwapsMember" id="mfc_CreditDefaultSwapsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CreditDerivativePurchasedCreditProtection1" id="mfc_CreditDerivativePurchasedCreditProtection1" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CreditDerivativesMember" id="mfc_CreditDerivativesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CreditLinkedNoteMember" id="mfc_CreditLinkedNoteMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CreditRiskDerivativesAtFairValueNet1" id="mfc_CreditRiskDerivativesAtFairValueNet1" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CreditRiskWeightedAmount" id="mfc_CreditRiskWeightedAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments" id="mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CurrencyRateFuturesMember" id="mfc_CurrencyRateFuturesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome" id="mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CurtailmentGainLoss" id="mfc_CurtailmentGainLoss" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="CyclicalConsumerMember" id="mfc_CyclicalConsumerMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DeathBenefitMember" id="mfc_DeathBenefitMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DeathDisabilityAndOtherClaimsMember" id="mfc_DeathDisabilityAndOtherClaimsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtInstrumentBasisPoints" id="mfc_DebtInstrumentBasisPoints" type="num:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtInstrumentIssuanceDate2" id="mfc_DebtInstrumentIssuanceDate2" type="xbrli:dateItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtInstrumentMaturityDate1" id="mfc_DebtInstrumentMaturityDate1" type="xbrli:dateItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtInstrumentMaturityPeriod" id="mfc_DebtInstrumentMaturityPeriod" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtInstrumentParValue" id="mfc_DebtInstrumentParValue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtInstrumentRedemptionDate" id="mfc_DebtInstrumentRedemptionDate" type="xbrli:dateItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtSecuritiesAndPrivatePlacements" id="mfc_DebtSecuritiesAndPrivatePlacements" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtSecuritiesAndPrivatePlacementsInvestmentPercentage" id="mfc_DebtSecuritiesAndPrivatePlacementsInvestmentPercentage" type="num:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtSecuritiesAndPrivatePlacementsPercentage" id="mfc_DebtSecuritiesAndPrivatePlacementsPercentage" type="num:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtSecuritiesIssuanceDate" id="mfc_DebtSecuritiesIssuanceDate" type="xbrli:dateItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DebtSecuritiesMaturityDate" id="mfc_DebtSecuritiesMaturityDate" type="xbrli:dateItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DecreaseInMortalityRate" id="mfc_DecreaseInMortalityRate" type="num:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DecreaseInProfitLossAttributableToShareholdersDueToPolicyRelatedAssumptions" id="mfc_DecreaseInProfitLossAttributableToShareholdersDueToPolicyRelatedAssumptions" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax" id="mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="SegregatedFundsNetAssetsHeldByPolicyholders" id="mfc_SegregatedFundsNetAssetsHeldByPolicyholders" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets" id="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="SevenPointFiveThreeFivePercentageSeniorDebentureNotesMember" id="mfc_SevenPointFiveThreeFivePercentageSeniorDebentureNotesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="SevenPointThreeSevenFiveSurplusNotesMember" id="mfc_SevenPointThreeSevenFiveSurplusNotesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock" id="mfc_SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock" type="nonnum:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="TaxCreditLossCarryForwardExpiration" id="mfc_TaxCreditLossCarryForwardExpiration" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TaxEffectFromChangeInTaxRateInInsuranceContracts" id="mfc_TaxEffectFromChangeInTaxRateInInsuranceContracts" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TaxEffectFromChangeInTaxRateInInsuranceContractsPostTax" id="mfc_TaxEffectFromChangeInTaxRateInInsuranceContractsPostTax" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TaxRateAppliedToCashFlowProjections" id="mfc_TaxRateAppliedToCashFlowProjections" type="num:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TechnologyMember" id="mfc_TechnologyMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TelecommunicationsMember" id="mfc_TelecommunicationsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TenPercentAdverseChangeInFuturePolicyTerminationRatesMember" id="mfc_TenPercentAdverseChangeInFuturePolicyTerminationRatesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TenPercentAdverseChangeInFutureTerminationRatesMember" id="mfc_TenPercentAdverseChangeInFutureTerminationRatesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TenPercentageChangeInMarketValueOfEquityMember" id="mfc_TenPercentageChangeInMarketValueOfEquityMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TermOfCreditDefaultSwaps" id="mfc_TermOfCreditDefaultSwaps" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TextBlockAbstract" id="mfc_TextBlockAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="ThreePointThreeOneSevenPercentageSubordinatedDebenturesMember" id="mfc_ThreePointThreeOneSevenPercentageSubordinatedDebenturesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ThreePointZeroFourNinePercentageSubordinatedDebenturesMember" id="mfc_ThreePointZeroFourNinePercentageSubordinatedDebenturesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="TimberAndAgricultureMember" id="mfc_TimberAndAgricultureMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TimberlandCompaniesMember" id="mfc_TimberlandCompaniesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TimberlandInvestmentMember" id="mfc_TimberlandInvestmentMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities" id="mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities" id="mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TwentyPercentageChangeInMarketValueOfEquityMember" id="mfc_TwentyPercentageChangeInMarketValueOfEquityMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TwoPercentAdverseChangeInFutureMortalityRatesMember" id="mfc_TwoPercentAdverseChangeInFutureMortalityRatesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="UsPlansMember" id="mfc_UsPlansMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceTable" id="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem"/>
  <element name="VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember" id="mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
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  <element name="ZeroPointFivePercentageDecreaseInInterestRatesMember" id="mfc_ZeroPointFivePercentageDecreaseInInterestRatesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ZeroPointFivePercentageIncreaseInInterestRatesMember" id="mfc_ZeroPointFivePercentageIncreaseInInterestRatesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>13
<FILENAME>mfc-20181231_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- DFS Xcelerate Taxonomy Calculation Linkbase - http://www.dfsco.com/financial-services/ -->
<!-- Version: 6.23.6 -->
<!-- Round: 7 -->
<!-- Creation date: 2019-02-13T00:07:22Z -->
<!-- Copyright (c) 2017 Donnelley Financial, LLC. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
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  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel"/>
  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel"/>
  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel"/>
  <labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AAACreditGradesMember" xlink:label="mfc_AAACreditGradesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AAACreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3494876_3_1">AAA credit grades.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AAACreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3494876_1_1">AAA Credit Grades [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AAACreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3494876_2_1">AAA [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AAACreditGradesMember" xlink:to="mfc_AAACreditGradesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AAACreditRatingMember" xlink:label="mfc_AAACreditRatingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AAACreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3529223_3_1">AAA credit rating.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AAACreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3529223_1_1">AAA credit rating [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AAACreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3529223_2_1">AAA [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AAACreditRatingMember" xlink:to="mfc_AAACreditRatingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AACreditGradesMember" xlink:label="mfc_AACreditGradesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AACreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479749_3_1">AA credit grades.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AACreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479749_1_1">AA credit grades [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AACreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479749_2_1">AA [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AACreditGradesMember" xlink:to="mfc_AACreditGradesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AACreditGradesOrHigherMember" xlink:label="mfc_AACreditGradesOrHigherMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AACreditGradesOrHigherMember_lbl" xml:lang="en-US" id="id_14036987_3489257_3_1">AA credit grades or higher.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AACreditGradesOrHigherMember_lbl" xml:lang="en-US" id="id_14036987_3489257_1_1">AA Credit Grades Or Higher [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AACreditGradesOrHigherMember_lbl" xml:lang="en-US" id="id_14036987_3489257_2_1">AA Credit Grades or Higher [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AACreditGradesOrHigherMember" xlink:to="mfc_AACreditGradesOrHigherMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AACreditRatingMember" xlink:label="mfc_AACreditRatingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AACreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3480207_3_1">AA credit rating.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AACreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3480207_1_1">AA credit rating [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AACreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3480207_2_1">AA [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AACreditRatingMember" xlink:to="mfc_AACreditRatingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccountingEstimatesAxis" xlink:label="ifrs-full_AccountingEstimatesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccountingEstimatesAxis_lbl" xml:lang="en-US" id="id_14036987_3416750_1_1">Accounting estimates [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccountingEstimatesAxis_lbl" xml:lang="en-US" id="id_14036987_3416750_2_1">Accounting estimates [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccountingEstimatesAxis" xlink:to="ifrs-full_AccountingEstimatesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccountingEstimatesMember" xlink:label="ifrs-full_AccountingEstimatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccountingEstimatesMember_lbl" xml:lang="en-US" id="id_14036987_3417192_1_1">Accounting estimates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccountingEstimatesMember_lbl" xml:lang="en-US" id="id_14036987_3417192_2_1">Accounting estimates [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccountingEstimatesMember" xlink:to="ifrs-full_AccountingEstimatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccruedIncome" xlink:label="ifrs-full_AccruedIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccruedIncome_lbl" xml:lang="en-US" id="id_14036987_3417196_1_1">Accrued income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccruedIncome_lbl" xml:lang="en-US" id="id_14036987_3417196_2_1">Accrued investment income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccruedIncome" xlink:to="ifrs-full_AccruedIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AccruedInterestMember" xlink:label="mfc_AccruedInterestMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AccruedInterestMember_lbl" xml:lang="en-US" id="id_14036987_3530923_3_1">Accrued interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AccruedInterestMember_lbl" xml:lang="en-US" id="id_14036987_3530923_1_1">Accrued interest [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AccruedInterestMember_lbl" xml:lang="en-US" id="id_14036987_3530923_2_1">Accrued interest [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AccruedInterestMember" xlink:to="mfc_AccruedInterestMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AccruedInvestmentIncomeMember" xlink:label="mfc_AccruedInvestmentIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AccruedInvestmentIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3479742_3_1">Accrued investment income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AccruedInvestmentIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3479742_1_1">Accrued investment income [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AccruedInvestmentIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3479742_2_1">Accrued investment income [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AccruedInvestmentIncomeMember" xlink:to="mfc_AccruedInvestmentIncomeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xml:lang="en-US" id="id_14036987_3416976_1_1">Accumulated depreciation and amortisation [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xml:lang="en-US" id="id_14036987_3416976_2_1">Accumulated depreciation and amortisation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedImpairmentMember" xlink:label="ifrs-full_AccumulatedImpairmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedImpairmentMember_lbl" xml:lang="en-US" id="id_14036987_3416755_1_1">Accumulated impairment [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedImpairmentMember_lbl" xml:lang="en-US" id="id_14036987_3416755_2_1">Allowances for losses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedImpairmentMember" xlink:to="ifrs-full_AccumulatedImpairmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3416979_1_1">Accumulated other comprehensive income [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3416979_2_1">Shareholders' accumulated other comprehensive income (loss) ("AOCI") [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AccumulatedOtherComprehensiveIncomeNetGainsLossesOnCashFlowHedges" xlink:label="mfc_AccumulatedOtherComprehensiveIncomeNetGainsLossesOnCashFlowHedges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AccumulatedOtherComprehensiveIncomeNetGainsLossesOnCashFlowHedges_lbl" xml:lang="en-US" id="id_14036987_3457280_3_1">Accumulated other comprehensive income net gains (losses) on cash flow hedges.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AccumulatedOtherComprehensiveIncomeNetGainsLossesOnCashFlowHedges_lbl" xml:lang="en-US" id="id_14036987_3457280_1_1">Accumulated other comprehensive income net gains (losses) on cash flow hedges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_AccumulatedOtherComprehensiveIncomeNetGainsLossesOnCashFlowHedges_lbl" xml:lang="en-US" id="id_14036987_3457280_14_1">Adjusted for AOCI loss on cash flow hedges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AccumulatedOtherComprehensiveIncomeNetGainsLossesOnCashFlowHedges" xlink:to="mfc_AccumulatedOtherComprehensiveIncomeNetGainsLossesOnCashFlowHedges_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_lbl" xml:lang="en-US" id="id_14036987_3416757_1_1">Acquisitions through business combinations, intangible assets and goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_lbl" xml:lang="en-US" id="id_14036987_3416757_2_1">Total goodwill and intangible assets Additions/ Disposals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ACreditGradesMember" xlink:label="mfc_ACreditGradesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ACreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479750_3_1">A credit grades.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ACreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479750_1_1">A credit grades [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ACreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479750_2_1">A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ACreditGradesMember" xlink:to="mfc_ACreditGradesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ACreditRatingMember" xlink:label="mfc_ACreditRatingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ACreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3480208_3_1">A credit rating.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ACreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3480208_1_1">A credit rating [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ACreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3480208_2_1">A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ACreditRatingMember" xlink:to="mfc_ACreditRatingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ActiveMember" xlink:label="mfc_ActiveMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ActiveMember_lbl" xml:lang="en-US" id="id_14036987_3480187_3_1">Active members.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ActiveMember_lbl" xml:lang="en-US" id="id_14036987_3480187_1_1">Active [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ActiveMember_lbl" xml:lang="en-US" id="id_14036987_3480187_2_1">Active [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ActiveMember" xlink:to="mfc_ActiveMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ActuarialAssumptionOfDecreaseInInflationRatesMember" xlink:label="mfc_ActuarialAssumptionOfDecreaseInInflationRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ActuarialAssumptionOfDecreaseInInflationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3477377_3_1">Actuarial assumption of decrease in inflation rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ActuarialAssumptionOfDecreaseInInflationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3477377_1_1">Actuarial assumption of decrease in inflation rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ActuarialAssumptionOfDecreaseInInflationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3477377_2_1">Actuarial assumption of decrease in inflation rates [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ActuarialAssumptionOfDecreaseInInflationRatesMember" xlink:to="mfc_ActuarialAssumptionOfDecreaseInInflationRatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates_lbl" xml:lang="en-US" id="id_14036987_3417207_1_1">Actuarial assumption of discount rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates_lbl" xml:lang="en-US" id="id_14036987_3417207_2_1">Discount rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRates_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember_lbl" xml:lang="en-US" id="id_14036987_3417208_1_1">Actuarial assumption of discount rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember_lbl" xml:lang="en-US" id="id_14036987_3417208_2_1">Actuarial assumption of discount rates [Member]</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ActuarialAssumptionsAdditionalInformationAxis" xlink:label="mfc_ActuarialAssumptionsAdditionalInformationAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ActuarialAssumptionsAdditionalInformationAxis_lbl" xml:lang="en-US" id="id_14036987_3475686_3_1">Actuarial Assumptions Additional Information [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ActuarialAssumptionsAdditionalInformationAxis_lbl" xml:lang="en-US" id="id_14036987_3475686_1_1">Actuarial Assumptions Additional Information [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ActuarialAssumptionsAdditionalInformationAxis_lbl" xml:lang="en-US" id="id_14036987_3475686_2_1">Actuarial Assumptions Additional Information [axis]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ActuarialAssumptionsAdditionalInformationDomain_lbl" xml:lang="en-US" id="id_14036987_3488250_1_1">Actuarial Assumptions Additional Information [domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ActuarialAssumptionsAdditionalInformationDomain_lbl" xml:lang="en-US" id="id_14036987_3488250_2_1">Actuarial Assumptions Additional Information [domain]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionsAxis" xlink:label="ifrs-full_ActuarialAssumptionsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ActuarialAssumptionsAxis_lbl" xml:lang="en-US" id="id_14036987_3416764_1_1">Actuarial assumptions [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ActuarialAssumptionsAxis_lbl" xml:lang="en-US" id="id_14036987_3416764_2_1">Actuarial assumptions [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ActuarialAssumptionsIncreaseInLifeExpectancyAtAgeSixtyFiveDueToTenPercentDecreaseInMortalityRate" xlink:label="mfc_ActuarialAssumptionsIncreaseInLifeExpectancyAtAgeSixtyFiveDueToTenPercentDecreaseInMortalityRate"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ActuarialAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3416994_1_1">Actuarial assumptions [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ActuarialAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3416994_2_1">Actuarial assumptions [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionsMember" xlink:to="ifrs-full_ActuarialAssumptionsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417211_2_1">Demographic assumption changes</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417212_1_1">Actuarial gains (losses) arising from changes in financial assumptions, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417212_2_1">Economic assumption changes</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ActuarialGainsLossesArisingFromExperienceNetDefinedBenefitLiabilityAsset" xlink:label="mfc_ActuarialGainsLossesArisingFromExperienceNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ActuarialGainsLossesArisingFromExperienceNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3453086_3_1">Actuarial gains (losses) arising from experience, net defined benefit liability (asset).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ActuarialGainsLossesArisingFromExperienceNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3453086_1_1">Actuarial gains (losses) arising from experience, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ActuarialGainsLossesArisingFromExperienceNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3453086_2_1">Experience</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ActuarialLiabilitiesMember" xlink:label="mfc_ActuarialLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ActuarialLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479559_3_1">Actuarial liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ActuarialLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479559_1_1">Actuarial Liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ActuarialLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479559_2_1">Actuarial liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ActuarialLiabilitiesMember" xlink:to="mfc_ActuarialLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionalPaidinCapital" xlink:label="ifrs-full_AdditionalPaidinCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionalPaidinCapital_lbl" xml:lang="en-US" id="id_14036987_3416544_1_1">Additional paid-in capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionalPaidinCapital_lbl" xml:lang="en-US" id="id_14036987_3416544_2_1">Contributed surplus</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionalPaidinCapitalMember" xlink:label="ifrs-full_AdditionalPaidinCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionalPaidinCapitalMember_lbl" xml:lang="en-US" id="id_14036987_3416769_1_1">Additional paid-in capital [member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionalRecognitionGoodwill" xlink:label="ifrs-full_AdditionalRecognitionGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionalRecognitionGoodwill_lbl" xml:lang="en-US" id="id_14036987_3417220_1_1">Additional recognition, goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionalRecognitionGoodwill_lbl" xml:lang="en-US" id="id_14036987_3417220_2_1">Goodwill Additions/ disposals</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AdditionsDispositionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="mfc_AdditionsDispositionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AdditionsDispositionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" id="id_14036987_3447033_3_1">Additions, dispositions other than through business combinations, intangible assets other than goodwill.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AdditionsDispositionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" id="id_14036987_3447033_1_1">Additions, dispositions other than through business combinations, intangible assets other than goodwill</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AddressOfSubsidiary" xlink:label="mfc_AddressOfSubsidiary"/>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AdjustedPercentageOfDiscountForPaymentOfDividend" xlink:label="mfc_AdjustedPercentageOfDiscountForPaymentOfDividend"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AdjustedPercentageOfDiscountForPaymentOfDividend_lbl" xml:lang="en-US" id="id_14036987_3526930_3_1">Adjusted percentage of discount for payment of dividend.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AdjustedPercentageOfDiscountForPaymentOfDividend_lbl" xml:lang="en-US" id="id_14036987_3526930_1_1">Adjusted percentage of discount for payment of dividend</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AdjustedPercentageOfDiscountForPaymentOfDividend_lbl" xml:lang="en-US" id="id_14036987_3526930_2_1">Percentage of share purchase discount for payment of dividend</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AdjustedPercentageOfDiscountForPaymentOfDividend" xlink:to="mfc_AdjustedPercentageOfDiscountForPaymentOfDividend_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustedWeightedAverageShares" xlink:label="ifrs-full_AdjustedWeightedAverageShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl" xml:lang="en-US" id="id_14036987_3416551_1_1">Adjusted weighted average number of ordinary shares outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl" xml:lang="en-US" id="id_14036987_3416551_6_1">Weighted average number of diluted common shares (in millions)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustedWeightedAverageShares" xlink:to="ifrs-full_AdjustedWeightedAverageShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForAmortisationExpense" xlink:label="ifrs-full_AdjustmentsForAmortisationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForAmortisationExpense_lbl" xml:lang="en-US" id="id_14036987_3417224_1_1">Adjustments for amortisation expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForAmortisationExpense_lbl" xml:lang="en-US" id="id_14036987_3417224_2_1">Other amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForAmortisationExpense" xlink:to="ifrs-full_AdjustmentsForAmortisationExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AdjustmentsForAmortisationOfPremiumOrDiscountOnInvestedAssets" xlink:label="mfc_AdjustmentsForAmortisationOfPremiumOrDiscountOnInvestedAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AdjustmentsForAmortisationOfPremiumOrDiscountOnInvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3446736_3_1">Adjustments for amortisation of premium or discount on invested assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AdjustmentsForAmortisationOfPremiumOrDiscountOnInvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3446736_1_1">Adjustments for amortisation of premium or discount on invested assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AdjustmentsForAmortisationOfPremiumOrDiscountOnInvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3446736_2_1">Amortization of (premium) discount on invested assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AdjustmentsForAmortisationOfPremiumOrDiscountOnInvestedAssets" xlink:to="mfc_AdjustmentsForAmortisationOfPremiumOrDiscountOnInvestedAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod" xlink:label="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod_lbl" xml:lang="en-US" id="id_14036987_3416775_1_1">Adjustments for current tax of prior periods</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod_lbl" xml:lang="en-US" id="id_14036987_3416775_2_1">Adjustments to prior year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod" xlink:to="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense_lbl" xml:lang="en-US" id="id_14036987_3417228_1_1">Adjustments for deferred tax expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense_lbl" xml:lang="en-US" id="id_14036987_3417228_2_1">Deferred income tax expense (recovery)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:to="ifrs-full_AdjustmentsForDeferredTaxExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3417235_1_1">Adjustments for increase (decrease) in insurance, reinsurance and investment contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3417235_2_1">Increase in insurance contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AdjustmentsForIncreaseDecreaseInReinsuranceAssetsExcludingTheImpactOfClosedBlockReinsuranceTransaction" xlink:label="mfc_AdjustmentsForIncreaseDecreaseInReinsuranceAssetsExcludingTheImpactOfClosedBlockReinsuranceTransaction"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AdjustmentsForIncreaseDecreaseInReinsuranceAssetsExcludingTheImpactOfClosedBlockReinsuranceTransaction_lbl" xml:lang="en-US" id="id_14036987_3446714_3_1">Adjustments for increase decrease in reinsurance assets excluding the impact of closed block reinsurance transaction.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AdjustmentsForIncreaseDecreaseInReinsuranceAssetsExcludingTheImpactOfClosedBlockReinsuranceTransaction_lbl" xml:lang="en-US" id="id_14036987_3446714_1_1">Adjustments for increase decrease in reinsurance assets excluding the impact of Closed Block reinsurance transaction</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AdjustmentsForIncreaseDecreaseInReinsuranceAssetsExcludingTheImpactOfClosedBlockReinsuranceTransaction_lbl" xml:lang="en-US" id="id_14036987_3446714_2_1">(Increase) decrease in reinsurance assets excluding coinsurance transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AdjustmentsForIncreaseDecreaseInReinsuranceAssetsExcludingTheImpactOfClosedBlockReinsuranceTransaction" xlink:to="mfc_AdjustmentsForIncreaseDecreaseInReinsuranceAssetsExcludingTheImpactOfClosedBlockReinsuranceTransaction_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AdjustmentsForNetRealizedAndUnrealizedGainsLossesAndImpairmentsOnAssets" xlink:label="mfc_AdjustmentsForNetRealizedAndUnrealizedGainsLossesAndImpairmentsOnAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AdjustmentsForNetRealizedAndUnrealizedGainsLossesAndImpairmentsOnAssets_lbl" xml:lang="en-US" id="id_14036987_3453728_3_1">Adjustments for net realized and unrealized gains (losses) and impairments on assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AdjustmentsForNetRealizedAndUnrealizedGainsLossesAndImpairmentsOnAssets_lbl" xml:lang="en-US" id="id_14036987_3453728_1_1">Adjustments for Net Realized and Unrealized Gains Losses and Impairments on Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AdjustmentsForNetRealizedAndUnrealizedGainsLossesAndImpairmentsOnAssets_lbl" xml:lang="en-US" id="id_14036987_3453728_2_1">Net realized and unrealized (gains) losses and impairment on assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AdjustmentsForNetRealizedAndUnrealizedGainsLossesAndImpairmentsOnAssets" xlink:to="mfc_AdjustmentsForNetRealizedAndUnrealizedGainsLossesAndImpairmentsOnAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xml:lang="en-US" id="id_14036987_3417013_1_1">Adjustments to reconcile profit (loss) [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xml:lang="en-US" id="id_14036987_3417013_2_1">Adjustments:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AdjustmentsForRestructuringCharge" xlink:label="mfc_AdjustmentsForRestructuringCharge"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AdjustmentsForRestructuringCharge_lbl" xml:lang="en-US" id="id_14036987_3536685_3_1">Adjustments for restructuring charge.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AdjustmentsForRestructuringCharge_lbl" xml:lang="en-US" id="id_14036987_3536685_1_1">Adjustments for restructuring charge</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AdjustmentsForRestructuringCharge_lbl" xml:lang="en-US" id="id_14036987_3536685_2_1">Restructuring charge</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AdjustmentsForRestructuringCharge" xlink:to="mfc_AdjustmentsForRestructuringCharge_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xml:lang="en-US" id="id_14036987_3417014_1_1">Adjustments for share-based payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xml:lang="en-US" id="id_14036987_3417014_2_1">Stock option expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AdministrationCostsNetDefinedBenefitLiabilityAsset" xlink:label="mfc_AdministrationCostsNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AdministrationCostsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3453081_3_1">Administration costs, net defined benefit liability (asset).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AdministrationCostsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3453081_1_1">Administration costs, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AdministrationCostsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3453081_2_1">Administration costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_AdministrationCostsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3453081_14_1">Defined benefit administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AdministrationCostsNetDefinedBenefitLiabilityAsset" xlink:to="mfc_AdministrationCostsNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AfterDecemberThirtyOneTwoThousandNineteenMember" xlink:label="mfc_AfterDecemberThirtyOneTwoThousandNineteenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AfterDecemberThirtyOneTwoThousandNineteenMember_lbl" xml:lang="en-US" id="id_14036987_3479847_3_1">After December thirty one two thousand nineteen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AfterDecemberThirtyOneTwoThousandNineteenMember_lbl" xml:lang="en-US" id="id_14036987_3479847_1_1">After december thirty one two thousand nineteen [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AfterDecemberThirtyOneTwoThousandNineteenMember_lbl" xml:lang="en-US" id="id_14036987_3479847_2_1">After December 31, 2019 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AfterDecemberThirtyOneTwoThousandNineteenMember" xlink:to="mfc_AfterDecemberThirtyOneTwoThousandNineteenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedMeasurementMember" xlink:label="ifrs-full_AggregatedMeasurementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xml:lang="en-US" id="id_14036987_3417023_1_1">Aggregated measurement [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xml:lang="en-US" id="id_14036987_3417023_2_1">Aggregated measurement [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedMeasurementMember" xlink:to="ifrs-full_AggregatedMeasurementMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xml:lang="en-US" id="id_14036987_3417242_1_1">Aggregated time bands [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xml:lang="en-US" id="id_14036987_3417242_2_1">Aggregated time bands [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_AggregatedTimeBandsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AgriculturalMortgagesMember" xlink:label="mfc_AgriculturalMortgagesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AgriculturalMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479703_3_1">Agricultural mortgages.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AgriculturalMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479703_1_1">Agricultural mortgages [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AgriculturalMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479703_2_1">Agricultural mortgages [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AgriculturalMortgagesMember" xlink:to="mfc_AgriculturalMortgagesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ALDAAndPublicEquityInvestmentReturnAssumptionsMember" xlink:label="mfc_ALDAAndPublicEquityInvestmentReturnAssumptionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ALDAAndPublicEquityInvestmentReturnAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3494895_3_1">ALDA and Public Equity Investment Return Assumptions [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ALDAAndPublicEquityInvestmentReturnAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3494895_1_1">ALDA and Public Equity Investment Return Assumptions [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ALDAAndPublicEquityInvestmentReturnAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3494895_2_1">ALDA and Public Equity Investment Return Assumptions [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ALDAAndPublicEquityInvestmentReturnAssumptionsMember" xlink:to="mfc_ALDAAndPublicEquityInvestmentReturnAssumptionsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember_lbl" xml:lang="en-US" id="id_14036987_3417030_1_1">All levels of fair value hierarchy [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember_lbl" xml:lang="en-US" id="id_14036987_3417030_2_1">All levels of fair value hierarchy [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:to="ifrs-full_AllLevelsOfFairValueHierarchyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3416589_1_1">Allowance account for credit losses of financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3416589_4_1">Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3416589_5_1">Beginning balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AlternativeLongDurationAssetPerformanceRiskMember" xlink:label="mfc_AlternativeLongDurationAssetPerformanceRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AlternativeLongDurationAssetPerformanceRiskMember_lbl" xml:lang="en-US" id="id_14036987_3489469_3_1">Alternative long duration asset performance risk.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AlternativeLongDurationAssetPerformanceRiskMember_lbl" xml:lang="en-US" id="id_14036987_3489469_1_1">Alternative Long Duration Asset Performance Risk [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AlternativeLongDurationAssetPerformanceRiskMember_lbl" xml:lang="en-US" id="id_14036987_3489469_2_1">Alternative Long-Duration Asset Performance Risk [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AlternativeLongDurationAssetPerformanceRiskMember" xlink:to="mfc_AlternativeLongDurationAssetPerformanceRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory" xlink:label="mfc_AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516425_3_1">Description of accounting policy for alternative long-duration asset performance risk sensitivities and exposure measures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516425_1_1">Alternative Long-Duration Asset Performance Risk Sensitivities and Exposure Measures [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516425_2_1">Alternative Long-Duration Asset Performance Risk Sensitivities and Exposure Measures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory" xlink:to="mfc_AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AlternativeLongdurationAssetsMember" xlink:label="mfc_AlternativeLongdurationAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AlternativeLongdurationAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479007_3_1">Alternative long-duration assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AlternativeLongdurationAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479007_1_1">Alternative long-duration assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AlternativeLongdurationAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479007_2_1">Alternative long-duration assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AlternativeLongdurationAssetsMember" xlink:to="mfc_AlternativeLongdurationAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US" id="id_14036987_3416806_1_1">Amendment Flag</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US" id="id_14036987_3416806_2_1">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmortisationExpense" xlink:label="ifrs-full_AmortisationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmortisationExpense_lbl" xml:lang="en-US" id="id_14036987_3416596_1_1">Amortisation expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_AmortisationExpense_lbl" xml:lang="en-US" id="id_14036987_3416596_14_1">Amortization expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmortisationExpense" xlink:to="ifrs-full_AmortisationExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountByWhichLoansOrReceivablesRelatedCreditDerivativesOrSimilarInstrumentsMitigateMaximumExposureToCreditRisk" xlink:label="ifrs-full_AmountByWhichLoansOrReceivablesRelatedCreditDerivativesOrSimilarInstrumentsMitigateMaximumExposureToCreditRisk"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountByWhichLoansOrReceivablesRelatedCreditDerivativesOrSimilarInstrumentsMitigateMaximumExposureToCreditRisk_lbl" xml:lang="en-US" id="id_14036987_3417039_1_1">Amount by which loans or receivables related credit derivatives or similar instruments mitigate maximum exposure to credit risk</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountByWhichLoansOrReceivablesRelatedCreditDerivativesOrSimilarInstrumentsMitigateMaximumExposureToCreditRisk_lbl" xml:lang="en-US" id="id_14036987_3417039_2_1">Mitigated exposure to credit risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountByWhichLoansOrReceivablesRelatedCreditDerivativesOrSimilarInstrumentsMitigateMaximumExposureToCreditRisk" xlink:to="ifrs-full_AmountByWhichLoansOrReceivablesRelatedCreditDerivativesOrSimilarInstrumentsMitigateMaximumExposureToCreditRisk_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountsArisingFromInsuranceContractsAxis" xlink:label="ifrs-full_AmountsArisingFromInsuranceContractsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsArisingFromInsuranceContractsAxis_lbl" xml:lang="en-US" id="id_14036987_3416817_1_1">Amounts arising from insurance contracts [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountsArisingFromInsuranceContractsAxis_lbl" xml:lang="en-US" id="id_14036987_3416817_2_1">Amounts arising from insurance contracts [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsArisingFromInsuranceContractsAxis" xlink:to="ifrs-full_AmountsArisingFromInsuranceContractsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities" xlink:label="ifrs-full_AmountsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3417045_1_1">Amounts subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_AmountsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3417045_14_1">Amounts subject to an enforceable netting arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities" xlink:to="ifrs-full_AmountsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AnalysisOfFinancialAssetsThatAreIndividuallyDeterminedToBeImpaired" xlink:label="ifrs-full_AnalysisOfFinancialAssetsThatAreIndividuallyDeterminedToBeImpaired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AnalysisOfFinancialAssetsThatAreIndividuallyDeterminedToBeImpaired_lbl" xml:lang="en-US" id="id_14036987_3416612_1_1">Analysis of financial assets that are individually determined to be impaired [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AnalysisOfFinancialAssetsThatAreIndividuallyDeterminedToBeImpaired_lbl" xml:lang="en-US" id="id_14036987_3416612_2_1">Summary of Company's Loans That are Considered Impaired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AnalysisOfFinancialAssetsThatAreIndividuallyDeterminedToBeImpaired" xlink:to="ifrs-full_AnalysisOfFinancialAssetsThatAreIndividuallyDeterminedToBeImpaired_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AnnuitiesAndPensionsMember" xlink:label="mfc_AnnuitiesAndPensionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AnnuitiesAndPensionsMember_lbl" xml:lang="en-US" id="id_14036987_3478992_3_1">Annuities and pensions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AnnuitiesAndPensionsMember_lbl" xml:lang="en-US" id="id_14036987_3478992_1_1">Annuities and pensions [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AnnuitiesAndPensionsMember_lbl" xml:lang="en-US" id="id_14036987_3478992_2_1">Annuities and pensions [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AnnuitiesAndPensionsMember" xlink:to="mfc_AnnuitiesAndPensionsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AnnuityPaymentsMember" xlink:label="mfc_AnnuityPaymentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AnnuityPaymentsMember_lbl" xml:lang="en-US" id="id_14036987_3479630_3_1">The member stands for annuity payments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AnnuityPaymentsMember_lbl" xml:lang="en-US" id="id_14036987_3479630_1_1">Annuity payments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AnnuityPaymentsMember_lbl" xml:lang="en-US" id="id_14036987_3479630_2_1">Annuity payments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AnnuityPaymentsMember" xlink:to="mfc_AnnuityPaymentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AntidilutiveSecuritiesWithPotentialFutureDilutiveEffectNotIncludedInCalculationOfDilutedEarningsPerShare" xlink:label="mfc_AntidilutiveSecuritiesWithPotentialFutureDilutiveEffectNotIncludedInCalculationOfDilutedEarningsPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AntidilutiveSecuritiesWithPotentialFutureDilutiveEffectNotIncludedInCalculationOfDilutedEarningsPerShare_lbl" xml:lang="en-US" id="id_14036987_3468541_3_1">Antidilutive securities with potential future dilutive effect not included in calculation of diluted earnings per share.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AntidilutiveSecuritiesWithPotentialFutureDilutiveEffectNotIncludedInCalculationOfDilutedEarningsPerShare_lbl" xml:lang="en-US" id="id_14036987_3468541_1_1">Antidilutive securities with potential future dilutive effect not included in calculation of diluted earnings per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AntidilutiveSecuritiesWithPotentialFutureDilutiveEffectNotIncludedInCalculationOfDilutedEarningsPerShare_lbl" xml:lang="en-US" id="id_14036987_3468541_2_1">Anti-dilutive stock-based awards excluded from the calculation of EPS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AntidilutiveSecuritiesWithPotentialFutureDilutiveEffectNotIncludedInCalculationOfDilutedEarningsPerShare" xlink:to="mfc_AntidilutiveSecuritiesWithPotentialFutureDilutiveEffectNotIncludedInCalculationOfDilutedEarningsPerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ApplicableTaxRate" xlink:label="ifrs-full_ApplicableTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en-US" id="id_14036987_3417268_1_1">Applicable tax rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en-US" id="id_14036987_3417268_2_1">Corporate tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ApplicableTaxRate" xlink:to="ifrs-full_ApplicableTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AsiaAndOtherMember" xlink:label="mfc_AsiaAndOtherMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AsiaAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3479976_3_1">Asia and Other.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AsiaAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3479976_1_1">Asia and Other [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AsiaAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3479976_2_1">Asia and Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AsiaAndOtherMember" xlink:to="mfc_AsiaAndOtherMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AsiaDivisionMember" xlink:label="mfc_AsiaDivisionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AsiaDivisionMember_lbl" xml:lang="en-US" id="id_14036987_3480219_3_1">Asia division.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AsiaDivisionMember_lbl" xml:lang="en-US" id="id_14036987_3480219_1_1">Asia Division [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AsiaDivisionMember_lbl" xml:lang="en-US" id="id_14036987_3480219_2_1">Asia Division [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AsiaDivisionMember" xlink:to="mfc_AsiaDivisionMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AsiaExcludingJapanMember" xlink:label="mfc_AsiaExcludingJapanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AsiaExcludingJapanMember_lbl" xml:lang="en-US" id="id_14036987_3480658_3_1">Asia, excluding Japan [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AsiaExcludingJapanMember_lbl" xml:lang="en-US" id="id_14036987_3480658_1_1">Asia, excluding Japan [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AsiaExcludingJapanMember_lbl" xml:lang="en-US" id="id_14036987_3480658_2_1">Asia Insurance, excluding Japan [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AsiaExcludingJapanMember" xlink:to="mfc_AsiaExcludingJapanMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_AsiaMember" xlink:label="srt_AsiaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_AsiaMember_lbl" xml:lang="en-US" id="id_14036987_3417053_1_1">Asia [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_AsiaMember_lbl" xml:lang="en-US" id="id_14036987_3417053_2_1">Asia [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_AsiaMember" xlink:to="srt_AsiaMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AsiaWealthAndAssetManagementMember" xlink:label="mfc_AsiaWealthAndAssetManagementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AsiaWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3541804_3_1">Asia wealth and asset management.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AsiaWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3541804_1_1">Asia wealth and asset management [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AsiaWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3541804_2_1">Asia wealth and asset management [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AsiaWealthAndAssetManagementMember" xlink:to="mfc_AsiaWealthAndAssetManagementMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AssetBackedSecuritiesMember" xlink:label="mfc_AssetBackedSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AssetBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3532595_3_1">Asset backed securities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AssetBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3532595_1_1">Asset backed securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AssetBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3532595_2_1">Asset backed securities [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AssetBackedSecuritiesMember" xlink:to="mfc_AssetBackedSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AssetClassesAndIndividualInvestmentRisksMember" xlink:label="mfc_AssetClassesAndIndividualInvestmentRisksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AssetClassesAndIndividualInvestmentRisksMember_lbl" xml:lang="en-US" id="id_14036987_3479674_3_1">The member stands for asset classes and individual investment risks.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AssetClassesAndIndividualInvestmentRisksMember_lbl" xml:lang="en-US" id="id_14036987_3479674_1_1">Asset classes and individual investment risks [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AssetClassesAndIndividualInvestmentRisksMember_lbl" xml:lang="en-US" id="id_14036987_3479674_2_1">Asset classes and individual investment risks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AssetClassesAndIndividualInvestmentRisksMember" xlink:to="mfc_AssetClassesAndIndividualInvestmentRisksMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AssetLiabilityManagementRiskManagementStrategy" xlink:label="mfc_AssetLiabilityManagementRiskManagementStrategy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AssetLiabilityManagementRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514666_3_1">Percentage of asset liability management risk management strategy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AssetLiabilityManagementRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514666_1_1">Asset Liability Management Risk Management Strategy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AssetLiabilityManagementRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514666_2_1">Asset liability management</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AssetLiabilityManagementRiskManagementStrategy" xlink:to="mfc_AssetLiabilityManagementRiskManagementStrategy_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US" id="id_14036987_3417056_1_1">Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US" id="id_14036987_3417056_4_1">Asset at end of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US" id="id_14036987_3417056_5_1">Asset Beginning of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US" id="id_14036987_3417056_32_1">Total assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US" id="id_14036987_3417056_2_1">Carrying value of total assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US" id="id_14036987_3417056_6_1">Total assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US" id="id_14036987_3417056_12_1">Fair value of securitized assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AssetsAbstract" xlink:label="ifrs-full_AssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en-US" id="id_14036987_3417273_1_1">Assets [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en-US" id="id_14036987_3417273_2_1">Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_AssetsAndInsuranceContractLiabilitiesRelatedToClosedBlocksParticipatingPolicies" xlink:label="mfc_AssetsAndInsuranceContractLiabilitiesRelatedToClosedBlocksParticipatingPolicies"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_AssetsAndInsuranceContractLiabilitiesRelatedToClosedBlocksParticipatingPolicies_lbl" xml:lang="en-US" id="id_14036987_3453753_3_1">Assets and insurance contract liabilities related to closed blocks participating policies.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_AssetsAndInsuranceContractLiabilitiesRelatedToClosedBlocksParticipatingPolicies_lbl" xml:lang="en-US" id="id_14036987_3453753_1_1">Assets And Insurance Contract Liabilities Related To Closed Blocks Participating Policies</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_AssetsAndInsuranceContractLiabilitiesRelatedToClosedBlocksParticipatingPolicies_lbl" xml:lang="en-US" id="id_14036987_3453753_2_1">Assets and insurance contract liabilities related to closed blocks participating policies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_AssetsAndInsuranceContractLiabilitiesRelatedToClosedBlocksParticipatingPolicies" xlink:to="mfc_AssetsAndInsuranceContractLiabilitiesRelatedToClosedBlocksParticipatingPolicies_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AssetsAndLiabilitiesAxis" xlink:label="ifrs-full_AssetsAndLiabilitiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAndLiabilitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3417057_1_1">Assets and liabilities [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAndLiabilitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3417057_2_1">Assets and liabilities [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAndLiabilitiesAxis" xlink:to="ifrs-full_AssetsAndLiabilitiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AssetsAndLiabilitiesMember" xlink:label="ifrs-full_AssetsAndLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAndLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3416835_1_1">Assets and liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAndLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3416835_2_1">Assets and liabilities [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAndLiabilitiesMember" xlink:to="ifrs-full_AssetsAndLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AssetsRecognisedInEntitysFinancialStatementsInRelationToStructuredEntities" xlink:label="ifrs-full_AssetsRecognisedInEntitysFinancialStatementsInRelationToStructuredEntities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsRecognisedInEntitysFinancialStatementsInRelationToStructuredEntities_lbl" xml:lang="en-US" id="id_14036987_3416629_1_1">Assets recognised in entity's financial statements in relation to structured entities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsRecognisedInEntitysFinancialStatementsInRelationToStructuredEntities_lbl" xml:lang="en-US" id="id_14036987_3416629_2_1">Company's investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AssetsRecognisedInEntitysFinancialStatementsInRelationToStructuredEntities_lbl" xml:lang="en-US" id="id_14036987_3416629_12_1">Consolidated timber assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsRecognisedInEntitysFinancialStatementsInRelationToStructuredEntities" xlink:to="ifrs-full_AssetsRecognisedInEntitysFinancialStatementsInRelationToStructuredEntities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AssetsUnderReinsuranceCeded" xlink:label="ifrs-full_AssetsUnderReinsuranceCeded"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsUnderReinsuranceCeded_lbl" xml:lang="en-US" id="id_14036987_3417278_1_1">Assets under reinsurance ceded</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsUnderReinsuranceCeded_lbl" xml:lang="en-US" id="id_14036987_3417278_2_1">Reinsurance assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AssetsUnderReinsuranceCeded_lbl" xml:lang="en-US" id="id_14036987_3417278_12_1">Total reinsurance ceded</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsUnderReinsuranceCeded" xlink:to="ifrs-full_AssetsUnderReinsuranceCeded_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AtFairValueMember" xlink:label="ifrs-full_AtFairValueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AtFairValueMember_lbl" xml:lang="en-US" id="id_14036987_3417065_1_1">At fair value [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AtFairValueMember_lbl" xml:lang="en-US" id="id_14036987_3417065_2_1">Fair value [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AtFairValueMember" xlink:to="ifrs-full_AtFairValueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AvailableforsaleFinancialAssetsAbstract" xlink:label="ifrs-full_AvailableforsaleFinancialAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AvailableforsaleFinancialAssetsAbstract_lbl" xml:lang="en-US" id="id_14036987_3416646_1_1">Available-for-sale financial assets [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AvailableforsaleFinancialAssetsAbstract_lbl" xml:lang="en-US" id="id_14036987_3416646_2_1">Available-for-sale financial securities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AvailableforsaleFinancialAssetsAbstract" xlink:to="ifrs-full_AvailableforsaleFinancialAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AverageEffectiveTaxRate" xlink:label="ifrs-full_AverageEffectiveTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xml:lang="en-US" id="id_14036987_3417068_1_1">Average effective tax rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xml:lang="en-US" id="id_14036987_3417068_2_1">Effective income tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AverageEffectiveTaxRate" xlink:to="ifrs-full_AverageEffectiveTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BalancedFunds1Member" xlink:label="mfc_BalancedFunds1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BalancedFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3481144_3_1">Balanced funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BalancedFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3481144_1_1">Balanced funds 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BalancedFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3481144_2_1">Balanced funds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BalancedFunds1Member" xlink:to="mfc_BalancedFunds1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BAndLowerCreditGradesMember" xlink:label="mfc_BAndLowerCreditGradesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BAndLowerCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479746_3_1">B and lower credit grades.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BAndLowerCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479746_1_1">B and lower credit grades [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BAndLowerCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479746_2_1">B and lower [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BAndLowerCreditGradesMember" xlink:to="mfc_BAndLowerCreditGradesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicEarningsLossPerShare" xlink:label="ifrs-full_BasicEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en-US" id="id_14036987_3416665_1_1">Basic earnings (loss) per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en-US" id="id_14036987_3416665_2_1">Basic earnings per common share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en-US" id="id_14036987_3416665_12_1">Basic earnings per common share (note 12)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BasicMaterialsMember" xlink:label="mfc_BasicMaterialsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BasicMaterialsMember_lbl" xml:lang="en-US" id="id_14036987_3479687_3_1">Basic materials.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BasicMaterialsMember_lbl" xml:lang="en-US" id="id_14036987_3479687_1_1">Basic materials [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BasicMaterialsMember_lbl" xml:lang="en-US" id="id_14036987_3479687_2_1">Basic materials [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BasicMaterialsMember" xlink:to="mfc_BasicMaterialsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BasisSpreadOnDividendYieldPercentage" xlink:label="mfc_BasisSpreadOnDividendYieldPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BasisSpreadOnDividendYieldPercentage_lbl" xml:lang="en-US" id="id_14036987_3526417_3_1">Basis spread on dividend yield percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BasisSpreadOnDividendYieldPercentage_lbl" xml:lang="en-US" id="id_14036987_3526417_1_1">Basis spread on dividend yield percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BasisSpreadOnDividendYieldPercentage_lbl" xml:lang="en-US" id="id_14036987_3526417_2_1">Basis spread on dividend rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BasisSpreadOnDividendYieldPercentage" xlink:to="mfc_BasisSpreadOnDividendYieldPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BasisSpreadOnDividendYieldVariable" xlink:label="mfc_BasisSpreadOnDividendYieldVariable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BasisSpreadOnDividendYieldVariable_lbl" xml:lang="en-US" id="id_14036987_3469338_3_1">Basis spread on dividend yield variable.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BasisSpreadOnDividendYieldVariable_lbl" xml:lang="en-US" id="id_14036987_3469338_1_1">Basis spread on dividend yield variable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BasisSpreadOnDividendYieldVariable_lbl" xml:lang="en-US" id="id_14036987_3469338_2_1">Floating dividend rate, description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BasisSpreadOnDividendYieldVariable" xlink:to="mfc_BasisSpreadOnDividendYieldVariable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BBAndBelowCreditRatingMember" xlink:label="mfc_BBAndBelowCreditRatingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BBAndBelowCreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3489239_3_1">BB and below credit rating.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BBAndBelowCreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3489239_1_1">BB and Below Credit Rating [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BBAndBelowCreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3489239_2_1">BB and below [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BBAndBelowCreditRatingMember" xlink:to="mfc_BBAndBelowCreditRatingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BBBCreditGradesMember" xlink:label="mfc_BBBCreditGradesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BBBCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479751_3_1">BBB credit grades.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BBBCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479751_1_1">BBB credit grades [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BBBCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479751_2_1">BBB [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BBBCreditGradesMember" xlink:to="mfc_BBBCreditGradesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BBBCreditRatingMember" xlink:label="mfc_BBBCreditRatingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BBBCreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3480209_3_1">BBB credit rating.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BBBCreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3480209_1_1">BBB credit rating [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BBBCreditRatingMember_lbl" xml:lang="en-US" id="id_14036987_3480209_2_1">BBB [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BBBCreditRatingMember" xlink:to="mfc_BBBCreditRatingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BBCreditGradesMember" xlink:label="mfc_BBCreditGradesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BBCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479747_3_1">BB credit grades.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BBCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479747_1_1">BB credit grades [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BBCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3479747_2_1">BB [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BBCreditGradesMember" xlink:to="mfc_BBCreditGradesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BenefitsAndExpensesCededToReinsurers" xlink:label="mfc_BenefitsAndExpensesCededToReinsurers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BenefitsAndExpensesCededToReinsurers_lbl" xml:lang="en-US" id="id_14036987_3446755_3_1">Benefits and expenses ceded to reinsurers.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BenefitsAndExpensesCededToReinsurers_lbl" xml:lang="en-US" id="id_14036987_3446755_1_1">Benefits and expenses ceded to reinsurers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_BenefitsAndExpensesCededToReinsurers_lbl" xml:lang="en-US" id="id_14036987_3446755_14_1">Benefits and expenses ceded to reinsurers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BenefitsAndExpensesCededToReinsurers" xlink:to="mfc_BenefitsAndExpensesCededToReinsurers_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BenefitsClaimsAndExpensesAbstract" xlink:label="mfc_BenefitsClaimsAndExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BenefitsClaimsAndExpensesAbstract_lbl" xml:lang="en-US" id="id_14036987_3431406_3_1">Benefits claims and expenses.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BenefitsClaimsAndExpensesAbstract_lbl" xml:lang="en-US" id="id_14036987_3431406_1_1">Benefits claims and expenses [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BenefitsClaimsAndExpensesAbstract_lbl" xml:lang="en-US" id="id_14036987_3431406_2_1">Contract benefits and expenses To contract holders and beneficiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BenefitsClaimsAndExpensesAbstract" xlink:to="mfc_BenefitsClaimsAndExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BenefitsExpenseArisingFromInsuranceContracts" xlink:label="mfc_BenefitsExpenseArisingFromInsuranceContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BenefitsExpenseArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3453195_3_1">Benefits expense arising from insurance contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BenefitsExpenseArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3453195_1_1">Benefits Expense arising from insurance contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_BenefitsExpenseArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3453195_6_1">Total contract benefits and expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BenefitsExpenseArisingFromInsuranceContracts" xlink:to="mfc_BenefitsExpenseArisingFromInsuranceContracts_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BerkshireInsuranceServicesIncMember" xlink:label="mfc_BerkshireInsuranceServicesIncMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BerkshireInsuranceServicesIncMember_lbl" xml:lang="en-US" id="id_14036987_3479840_3_1">Berkshire Insurance Services Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BerkshireInsuranceServicesIncMember_lbl" xml:lang="en-US" id="id_14036987_3479840_1_1">Berkshire Insurance Services Inc [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BerkshireInsuranceServicesIncMember_lbl" xml:lang="en-US" id="id_14036987_3479840_2_1">Berkshire Insurance Services Inc [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BerkshireInsuranceServicesIncMember" xlink:to="mfc_BerkshireInsuranceServicesIncMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BiologicalAssetsByTypeAxis" xlink:label="ifrs-full_BiologicalAssetsByTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BiologicalAssetsByTypeAxis_lbl" xml:lang="en-US" id="id_14036987_3417098_1_1">Biological assets by type [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BiologicalAssetsByTypeAxis_lbl" xml:lang="en-US" id="id_14036987_3417098_2_1">Biological assets by type [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BiologicalAssetsByTypeAxis" xlink:to="ifrs-full_BiologicalAssetsByTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BiologicalAssetsTypeMember" xlink:label="ifrs-full_BiologicalAssetsTypeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BiologicalAssetsTypeMember_lbl" xml:lang="en-US" id="id_14036987_3416876_1_1">Biological assets, type [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BiologicalAssetsTypeMember_lbl" xml:lang="en-US" id="id_14036987_3416876_2_1">Biological assets, type [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BiologicalAssetsTypeMember" xlink:to="ifrs-full_BiologicalAssetsTypeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BlackScholesOptionPricingModelMember" xlink:label="mfc_BlackScholesOptionPricingModelMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BlackScholesOptionPricingModelMember_lbl" xml:lang="en-US" id="id_14036987_3486570_3_1">Black scholes option pricing model.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BlackScholesOptionPricingModelMember_lbl" xml:lang="en-US" id="id_14036987_3486570_1_1">Black scholes option pricing model [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BlackScholesOptionPricingModelMember_lbl" xml:lang="en-US" id="id_14036987_3486570_2_1">Black scholes option pricing model [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BlackScholesOptionPricingModelMember" xlink:to="mfc_BlackScholesOptionPricingModelMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BoardOfDirectorMember" xlink:label="mfc_BoardOfDirectorMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BoardOfDirectorMember_lbl" xml:lang="en-US" id="id_14036987_3502147_3_1">Board of director.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BoardOfDirectorMember_lbl" xml:lang="en-US" id="id_14036987_3502147_1_1">Board of director [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BoardOfDirectorMember_lbl" xml:lang="en-US" id="id_14036987_3502147_2_1">Board of Director [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BoardOfDirectorMember" xlink:to="mfc_BoardOfDirectorMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BondDefaultRatesMember" xlink:label="mfc_BondDefaultRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BondDefaultRatesMember_lbl" xml:lang="en-US" id="id_14036987_3536955_3_1">Bond default rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BondDefaultRatesMember_lbl" xml:lang="en-US" id="id_14036987_3536955_1_1">Bond default rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BondDefaultRatesMember_lbl" xml:lang="en-US" id="id_14036987_3536955_2_1">Bond default rates [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BondDefaultRatesMember" xlink:to="mfc_BondDefaultRatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BondFundsMember" xlink:label="mfc_BondFundsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BondFundsMember_lbl" xml:lang="en-US" id="id_14036987_3489473_3_1">Bond funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BondFundsMember_lbl" xml:lang="en-US" id="id_14036987_3489473_1_1">Bond Funds [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BondFundsMember_lbl" xml:lang="en-US" id="id_14036987_3489473_2_1">Bond funds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BondFundsMember" xlink:to="mfc_BondFundsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BondRedemptionVariableRate" xlink:label="mfc_BondRedemptionVariableRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BondRedemptionVariableRate_lbl" xml:lang="en-US" id="id_14036987_3526345_3_1">Bond redemption variable rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BondRedemptionVariableRate_lbl" xml:lang="en-US" id="id_14036987_3526345_1_1">Bond redemption variable rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BondRedemptionVariableRate_lbl" xml:lang="en-US" id="id_14036987_3526345_2_1">Bond redemption variable interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BondRedemptionVariableRate" xlink:to="mfc_BondRedemptionVariableRate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_BorrowingInterestRateResetPeriod" xlink:label="mfc_BorrowingInterestRateResetPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_BorrowingInterestRateResetPeriod_lbl" xml:lang="en-US" id="id_14036987_3472516_3_1">Borrowing interest rate reset period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_BorrowingInterestRateResetPeriod_lbl" xml:lang="en-US" id="id_14036987_3472516_1_1">Borrowing Interest Rate Reset Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_BorrowingInterestRateResetPeriod_lbl" xml:lang="en-US" id="id_14036987_3472516_2_1">Interest rate reset period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_BorrowingInterestRateResetPeriod" xlink:to="mfc_BorrowingInterestRateResetPeriod_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Borrowings_lbl" xml:lang="en-US" id="id_14036987_3416694_1_1">Borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Borrowings_lbl" xml:lang="en-US" id="id_14036987_3416694_2_1">Amounts outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsAdjustmentToInterestRateBasis" xlink:label="ifrs-full_BorrowingsAdjustmentToInterestRateBasis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsAdjustmentToInterestRateBasis_lbl" xml:lang="en-US" id="id_14036987_3416695_1_1">Borrowings, adjustment to interest rate basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingsAdjustmentToInterestRateBasis_lbl" xml:lang="en-US" id="id_14036987_3416695_2_1">Floating interest rate, adjustment to basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsAdjustmentToInterestRateBasis" xlink:to="ifrs-full_BorrowingsAdjustmentToInterestRateBasis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsByNameAxis_lbl" xml:lang="en-US" id="id_14036987_3416696_1_1">Borrowings by name [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingsByNameAxis_lbl" xml:lang="en-US" id="id_14036987_3416696_2_1">Borrowings by name [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsByNameMember_lbl" xml:lang="en-US" id="id_14036987_3416886_1_1">Borrowings by name [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingsByNameMember_lbl" xml:lang="en-US" id="id_14036987_3416886_2_1">Borrowings by name [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ifrs-full_BorrowingsByNameMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="ifrs-full_BorrowingsInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xml:lang="en-US" id="id_14036987_3417325_1_1">Borrowings, interest rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xml:lang="en-US" id="id_14036987_3417325_2_1">Capital instruments interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="ifrs-full_BorrowingsInterestRateBasis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsInterestRateBasis_lbl" xml:lang="en-US" id="id_14036987_3417326_1_1">Borrowings, interest rate basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingsInterestRateBasis_lbl" xml:lang="en-US" id="id_14036987_3417326_2_1">Interest rate, basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRateBasis" xlink:to="ifrs-full_BorrowingsInterestRateBasis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xml:lang="en-US" id="id_14036987_3416700_1_1">Bottom of range [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xml:lang="en-US" id="id_14036987_3416700_2_1">Bottom of range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BrandNamesMember" xlink:label="ifrs-full_BrandNamesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BrandNamesMember_lbl" xml:lang="en-US" id="id_14036987_3417332_1_1">Brand names [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BrandNamesMember_lbl" xml:lang="en-US" id="id_14036987_3417332_2_1">Brand [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BrandNamesMember" xlink:to="ifrs-full_BrandNamesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BusinessCombinationsAxis_lbl" xml:lang="en-US" id="id_14036987_3417116_1_1">Business combinations [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BusinessCombinationsAxis_lbl" xml:lang="en-US" id="id_14036987_3417116_2_1">Business combinations [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_BusinessCombinationsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_CA" xlink:label="country_CA"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_CA_lbl" xml:lang="en-US" id="id_14036987_3416717_1_1">CANADA</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_CA_lbl" xml:lang="en-US" id="id_14036987_3416717_2_1">Canada [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CA" xlink:to="country_CA_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CanadaWealthAndAssetManagementMember" xlink:label="mfc_CanadaWealthAndAssetManagementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CanadaWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3541806_3_1">Canada wealth and asset management.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CanadaWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3541806_1_1">Canada wealth and asset management [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CanadaWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3541806_2_1">Canada wealth and asset management [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CanadaWealthAndAssetManagementMember" xlink:to="mfc_CanadaWealthAndAssetManagementMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CanadianCharteredBanksMember" xlink:label="mfc_CanadianCharteredBanksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CanadianCharteredBanksMember_lbl" xml:lang="en-US" id="id_14036987_3489442_3_1">Canadian Chartered Banks.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CanadianCharteredBanksMember_lbl" xml:lang="en-US" id="id_14036987_3489442_1_1">Canadian Chartered Banks [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CanadianCharteredBanksMember_lbl" xml:lang="en-US" id="id_14036987_3489442_2_1">Canadian chartered banks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CanadianCharteredBanksMember" xlink:to="mfc_CanadianCharteredBanksMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CanadianDivisionMember" xlink:label="mfc_CanadianDivisionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CanadianDivisionMember_lbl" xml:lang="en-US" id="id_14036987_3531348_3_1">Canadian division.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CanadianDivisionMember_lbl" xml:lang="en-US" id="id_14036987_3531348_1_1">Canadian Division [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CanadianDivisionMember_lbl" xml:lang="en-US" id="id_14036987_3531348_2_1">Canadian Division [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CanadianDivisionMember" xlink:to="mfc_CanadianDivisionMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CanadianFixedAnnuityProductsMember" xlink:label="mfc_CanadianFixedAnnuityProductsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CanadianFixedAnnuityProductsMember_lbl" xml:lang="en-US" id="id_14036987_3479015_3_1">Canadian fixed annuity products.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CanadianFixedAnnuityProductsMember_lbl" xml:lang="en-US" id="id_14036987_3479015_1_1">Canadian fixed annuity products [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CanadianFixedAnnuityProductsMember_lbl" xml:lang="en-US" id="id_14036987_3479015_2_1">Canadian fixed annuity products [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CanadianFixedAnnuityProductsMember" xlink:to="mfc_CanadianFixedAnnuityProductsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CanadianGovernmentAndAgencyMember" xlink:label="mfc_CanadianGovernmentAndAgencyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CanadianGovernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3478993_3_1">Canadian government and agency.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CanadianGovernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3478993_1_1">Canadian government and agency [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CanadianGovernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3478993_2_1">Canadian government and agency [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CanadianGovernmentAndAgencyMember" xlink:to="mfc_CanadianGovernmentAndAgencyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CanadianInsuranceMember" xlink:label="mfc_CanadianInsuranceMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CanadianInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3541799_3_1">Canadian insurance.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CanadianInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3541799_1_1">Canadian insurance [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CanadianInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3541799_2_1">Canadian insurance [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CanadianInsuranceMember" xlink:to="mfc_CanadianInsuranceMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CanadianPlansMember" xlink:label="mfc_CanadianPlansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CanadianPlansMember_lbl" xml:lang="en-US" id="id_14036987_3480178_3_1">Canadian plans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CanadianPlansMember_lbl" xml:lang="en-US" id="id_14036987_3480178_1_1">Canadian plans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CanadianPlansMember_lbl" xml:lang="en-US" id="id_14036987_3480178_2_1">Canadian plans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CanadianPlansMember" xlink:to="mfc_CanadianPlansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CapitalAssetUsefulLife" xlink:label="mfc_CapitalAssetUsefulLife"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CapitalAssetUsefulLife_lbl" xml:lang="en-US" id="id_14036987_3472728_3_1">Capital asset useful life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CapitalAssetUsefulLife_lbl" xml:lang="en-US" id="id_14036987_3472728_1_1">Capital Asset Useful Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CapitalAssetUsefulLife_lbl" xml:lang="en-US" id="id_14036987_3472728_2_1">Capital asset, useful life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CapitalAssetUsefulLife" xlink:to="mfc_CapitalAssetUsefulLife_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CapitalContributionsByParent" xlink:label="mfc_CapitalContributionsByParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CapitalContributionsByParent_lbl" xml:lang="en-US" id="id_14036987_3453163_3_1">Capital contributions by parent.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CapitalContributionsByParent_lbl" xml:lang="en-US" id="id_14036987_3453163_1_1">Capital contributions by parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CapitalContributionsByParent_lbl" xml:lang="en-US" id="id_14036987_3453163_2_1">Capital contributions by parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CapitalContributionsByParent" xlink:to="mfc_CapitalContributionsByParent_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CapitalContributionToUnconsolidatedSubsidiaries" xlink:label="mfc_CapitalContributionToUnconsolidatedSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CapitalContributionToUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3453179_3_1">Capital contribution to unconsolidated subsidiaries.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CapitalContributionToUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3453179_1_1">Capital contribution to unconsolidated subsidiaries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_CapitalContributionToUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3453179_14_1">Capital contribution to unconsolidated subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CapitalContributionToUnconsolidatedSubsidiaries" xlink:to="mfc_CapitalContributionToUnconsolidatedSubsidiaries_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CapitalMember" xlink:label="mfc_CapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CapitalMember_lbl" xml:lang="en-US" id="id_14036987_3479898_3_1">This member stands for capital.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CapitalMember_lbl" xml:lang="en-US" id="id_14036987_3479898_1_1">Capital [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CapitalMember_lbl" xml:lang="en-US" id="id_14036987_3479898_2_1">Capital [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CapitalMember" xlink:to="mfc_CapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CapitalTaxLossCarryforwards" xlink:label="mfc_CapitalTaxLossCarryforwards"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CapitalTaxLossCarryforwards_lbl" xml:lang="en-US" id="id_14036987_3453752_3_1">Capital tax loss carryforwards.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CapitalTaxLossCarryforwards_lbl" xml:lang="en-US" id="id_14036987_3453752_1_1">Capital Tax Loss Carryforwards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CapitalTaxLossCarryforwards_lbl" xml:lang="en-US" id="id_14036987_3453752_2_1">Capital tax loss carry forward</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CapitalTaxLossCarryforwards" xlink:to="mfc_CapitalTaxLossCarryforwards_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xml:lang="en-US" id="id_14036987_3416904_1_1">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xml:lang="en-US" id="id_14036987_3416904_2_1">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CarryingAmountMember_lbl" xml:lang="en-US" id="id_14036987_3417348_1_1">Carrying amount [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CarryingAmountMember_lbl" xml:lang="en-US" id="id_14036987_3417348_2_1">Carrying amount [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_CarryingAmountMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CarryingValueMember" xlink:label="mfc_CarryingValueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CarryingValueMember_lbl" xml:lang="en-US" id="id_14036987_3478979_3_1">Carrying value [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CarryingValueMember_lbl" xml:lang="en-US" id="id_14036987_3478979_1_1">Carrying value [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CarryingValueMember_lbl" xml:lang="en-US" id="id_14036987_3478979_2_1">Carrying value [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CarryingValueMember" xlink:to="mfc_CarryingValueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CarryingValueOfCapitalInstrumentsAbstract" xlink:label="mfc_CarryingValueOfCapitalInstrumentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CarryingValueOfCapitalInstrumentsAbstract_lbl" xml:lang="en-US" id="id_14036987_3431459_3_1">Carrying value of capital instruments abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CarryingValueOfCapitalInstrumentsAbstract_lbl" xml:lang="en-US" id="id_14036987_3431459_1_1">Carrying value of capital instruments [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CarryingValueOfCapitalInstrumentsAbstract_lbl" xml:lang="en-US" id="id_14036987_3431459_2_1">Carrying value of capital instruments [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CarryingValueOfCapitalInstrumentsAbstract" xlink:to="mfc_CarryingValueOfCapitalInstrumentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CarryingValueOfCapitalInstrumentsLineItems" xlink:label="mfc_CarryingValueOfCapitalInstrumentsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CarryingValueOfCapitalInstrumentsLineItems_lbl" xml:lang="en-US" id="id_14036987_3431458_3_1">Carrying value of capital instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CarryingValueOfCapitalInstrumentsLineItems_lbl" xml:lang="en-US" id="id_14036987_3431458_1_1">Carrying value of capital instruments [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CarryingValueOfCapitalInstrumentsLineItems_lbl" xml:lang="en-US" id="id_14036987_3431458_2_1">Carrying value of capital instruments [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CarryingValueOfCapitalInstrumentsLineItems" xlink:to="mfc_CarryingValueOfCapitalInstrumentsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CarryingValueOfCapitalInstrumentsTable" xlink:label="mfc_CarryingValueOfCapitalInstrumentsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CarryingValueOfCapitalInstrumentsTable_lbl" xml:lang="en-US" id="id_14036987_3474506_3_1">Carrying value of capital instruments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CarryingValueOfCapitalInstrumentsTable_lbl" xml:lang="en-US" id="id_14036987_3474506_1_1">Carrying value of capital instruments [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CarryingValueOfCapitalInstrumentsTable_lbl" xml:lang="en-US" id="id_14036987_3474506_2_1">Carrying value of capital instruments [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CarryingValueOfCapitalInstrumentsTable" xlink:to="mfc_CarryingValueOfCapitalInstrumentsTable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CarryingValueOfResidentialMortgagesAndLoansToBankClients" xlink:label="mfc_CarryingValueOfResidentialMortgagesAndLoansToBankClients"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CarryingValueOfResidentialMortgagesAndLoansToBankClients_lbl" xml:lang="en-US" id="id_14036987_3447044_3_1">The carrying amount of residential mortgages and bank clients loans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CarryingValueOfResidentialMortgagesAndLoansToBankClients_lbl" xml:lang="en-US" id="id_14036987_3447044_1_1">Carrying value of residential mortgages and loans to bank clients</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CarryingValueOfResidentialMortgagesAndLoansToBankClients_lbl" xml:lang="en-US" id="id_14036987_3447044_2_1">Carrying value of residential mortgages and loans to bank clients</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CarryingValueOfResidentialMortgagesAndLoansToBankClients" xlink:to="mfc_CarryingValueOfResidentialMortgagesAndLoansToBankClients_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Cash" xlink:label="ifrs-full_Cash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Cash_lbl" xml:lang="en-US" id="id_14036987_3417349_1_1">Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Cash_lbl" xml:lang="en-US" id="id_14036987_3417349_2_1">Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Cash" xlink:to="ifrs-full_Cash_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US" id="id_14036987_3416724_1_1">Cash and cash equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US" id="id_14036987_3416724_4_1">Gross cash and short-term securities, end of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US" id="id_14036987_3416724_5_1">Gross cash and short-term securities, beginning of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US" id="id_14036987_3416724_2_1">Cash and short-term securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalentsAmountContributedToFairValueOfPlanAssets_lbl" xml:lang="en-US" id="id_14036987_3417133_1_1">Cash and cash equivalents, amount contributed to fair value of plan assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAndCashEquivalentsAmountContributedToFairValueOfPlanAssets_lbl" xml:lang="en-US" id="id_14036987_3417133_2_1">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalentsAmountContributedToFairValueOfPlanAssets" xlink:to="ifrs-full_CashAndCashEquivalentsAmountContributedToFairValueOfPlanAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition_lbl" xml:lang="en-US" id="id_14036987_3416725_1_1">Cash and cash equivalents if different from statement of financial position</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition_lbl" xml:lang="en-US" id="id_14036987_3416725_4_1">Balance, December 31</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition_lbl" xml:lang="en-US" id="id_14036987_3416725_5_1">Balance, beginning of year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:to="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="id_14036987_3416726_1_1">Cash and cash equivalents if different from statement of financial position [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="id_14036987_3416726_2_1">Cash and short-term securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract" xlink:to="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CashAndShortTermSecuritiesMember" xlink:label="mfc_CashAndShortTermSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CashAndShortTermSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3479010_3_1">Cash and short-term securities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CashAndShortTermSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3479010_1_1">Cash and short term securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CashAndShortTermSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3479010_2_1">Cash and short-term securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CashAndShortTermSecuritiesMember" xlink:to="mfc_CashAndShortTermSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CashCashAndCashEquivalentsAndCurrentAssetsMember" xlink:label="mfc_CashCashAndCashEquivalentsAndCurrentAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CashCashAndCashEquivalentsAndCurrentAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480428_3_1">Cash and cash equivalents.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CashCashAndCashEquivalentsAndCurrentAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480428_1_1">Cash Cash and Cash equivalents and current assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CashCashAndCashEquivalentsAndCurrentAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480428_2_1">Cash and cash equivalents [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CashCashAndCashEquivalentsAndCurrentAssetsMember" xlink:to="mfc_CashCashAndCashEquivalentsAndCurrentAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashCollateralPledgedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities" xlink:label="ifrs-full_CashCollateralPledgedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashCollateralPledgedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3417356_1_1">Cash collateral pledged subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashCollateralPledgedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3417356_2_1">Financial and cash collateral pledged (received)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashCollateralPledgedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities" xlink:to="ifrs-full_CashCollateralPledgedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashCollateralReceivedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets" xlink:label="ifrs-full_CashCollateralReceivedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashCollateralReceivedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3417136_1_1">Cash collateral received subject to enforceable master netting arrangement or similar agreement not set off against financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CashCollateralReceivedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3417136_14_1">Financial and cash collateral pledged (received)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashCollateralReceivedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets" xlink:to="ifrs-full_CashCollateralReceivedSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashEquivalents" xlink:label="ifrs-full_CashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashEquivalents_lbl" xml:lang="en-US" id="id_14036987_3416727_1_1">Cash equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashEquivalents_lbl" xml:lang="en-US" id="id_14036987_3416727_2_1">Cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashEquivalents" xlink:to="ifrs-full_CashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowHedgesAbstract" xlink:label="ifrs-full_CashFlowHedgesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowHedgesAbstract_lbl" xml:lang="en-US" id="id_14036987_3416729_1_1">Cash flow hedges [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowHedgesAbstract_lbl" xml:lang="en-US" id="id_14036987_3416729_2_1">Cash flow hedges:</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowHedgesMember" xlink:label="ifrs-full_CashFlowHedgesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowHedgesMember_lbl" xml:lang="en-US" id="id_14036987_3416907_1_1">Cash flow hedges [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowHedgesMember_lbl" xml:lang="en-US" id="id_14036987_3416907_2_1">Cash flow hedges [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowHedgesMember" xlink:to="ifrs-full_CashFlowHedgesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xml:lang="en-US" id="id_14036987_3417358_1_1">Cash flows from losing control of subsidiaries or other businesses, classified as investing activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xml:lang="en-US" id="id_14036987_3417358_2_1">Investment in common shares of subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en-US" id="id_14036987_3416913_1_1">Cash flows from (used in) financing activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en-US" id="id_14036987_3416913_6_1">Cash provided by (used in) financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3416914_1_1">Cash flows from (used in) financing activities [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3416914_2_1">Financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings" xlink:label="ifrs-full_CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings_lbl" xml:lang="en-US" id="id_14036987_3416730_1_1">Cash flows from (used in) increase (decrease) in current borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings_lbl" xml:lang="en-US" id="id_14036987_3416730_2_1">Changes in deposits from Bank clients, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings" xlink:to="ifrs-full_CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US" id="id_14036987_3416731_1_1">Cash flows from (used in) investing activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US" id="id_14036987_3416731_6_1">Cash provided by (used in) investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3416732_1_1">Cash flows from (used in) investing activities [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3416732_2_1">Investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en-US" id="id_14036987_3416918_1_1">Cash flows from (used in) operating activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en-US" id="id_14036987_3416918_6_1">Cash provided by (used in) operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3417363_1_1">Cash flows from (used in) operating activities [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3417363_2_1">Operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperations" xlink:label="ifrs-full_CashFlowsFromUsedInOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperations_lbl" xml:lang="en-US" id="id_14036987_3416734_1_1">Cash flows from (used in) operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperations_lbl" xml:lang="en-US" id="id_14036987_3416734_6_1">Cash provided by (used in) operating activities before undernoted items</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperations" xlink:to="ifrs-full_CashFlowsFromUsedInOperations_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xml:lang="en-US" id="id_14036987_3416920_1_1">Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xml:lang="en-US" id="id_14036987_3416920_14_1">Net cash decrease from purchase of subsidiaries and businesses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xml:lang="en-US" id="id_14036987_3416920_18_1">Net cash decrease from sale and purchase of subsidiaries and businesses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis_lbl" xml:lang="en-US" id="id_14036987_3416739_1_1">Categories of financial assets [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis_lbl" xml:lang="en-US" id="id_14036987_3416739_2_1">Categories of financial assets [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_CategoriesOfFinancialAssetsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xml:lang="en-US" id="id_14036987_3416740_1_1">Categories of related parties [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xml:lang="en-US" id="id_14036987_3416740_2_1">Categories of related parties [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CDSCreditMember" xlink:label="mfc_CDSCreditMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CDSCreditMember_lbl" xml:lang="en-US" id="id_14036987_3480112_3_1">Total single name CDSs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CDSCreditMember_lbl" xml:lang="en-US" id="id_14036987_3480112_1_1">CDS Credit [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CDSCreditMember_lbl" xml:lang="en-US" id="id_14036987_3480112_2_1">Single name CDSs [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CDSCreditMember" xlink:to="mfc_CDSCreditMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CededPremiums" xlink:label="mfc_CededPremiums"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CededPremiums_lbl" xml:lang="en-US" id="id_14036987_3444500_3_1">Ceded premiums.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CededPremiums_lbl" xml:lang="en-US" id="id_14036987_3444500_1_1">Ceded Premiums</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CededPremiums_lbl" xml:lang="en-US" id="id_14036987_3444500_2_1">Ceded premiums</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CededPremiums" xlink:to="mfc_CededPremiums_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangeInGrossInsuranceContractLiabilities" xlink:label="mfc_ChangeInGrossInsuranceContractLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangeInGrossInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3447202_3_1">Change in Gross Insurance Contract Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangeInGrossInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3447202_1_1">Change in Gross Insurance Contract Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ChangeInGrossInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3447202_2_1">Change in gross insurance contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangeInGrossInsuranceContractLiabilities" xlink:to="mfc_ChangeInGrossInsuranceContractLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangeInInsuranceContractLiabilities" xlink:label="mfc_ChangeInInsuranceContractLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangeInInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446809_3_1">Change in insurance contract liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangeInInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446809_1_1">Change in insurance contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_ChangeInInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446809_14_1">Change in insurance contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="mfc_ChangeInInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446809_18_1">Increase (decrease) in insurance contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangeInInsuranceContractLiabilities" xlink:to="mfc_ChangeInInsuranceContractLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables" xlink:label="mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables_lbl" xml:lang="en-US" id="id_14036987_3443881_3_1">Change in investment broker net receivables and payables.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables_lbl" xml:lang="en-US" id="id_14036987_3443881_1_1">Change in Investment Broker Net Receivables and Payables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables_lbl" xml:lang="en-US" id="id_14036987_3443881_2_1">Change in investment broker net receivables and payables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables_lbl" xml:lang="en-US" id="id_14036987_3443881_12_1">Changes in investment broker net receivables and payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables" xlink:to="mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ChangesInFairValueMeasurementAssetsAbstract" xlink:label="ifrs-full_ChangesInFairValueMeasurementAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ChangesInFairValueMeasurementAssetsAbstract_lbl" xml:lang="en-US" id="id_14036987_3417414_1_1">Changes in fair value measurement, assets [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ChangesInFairValueMeasurementAssetsAbstract_lbl" xml:lang="en-US" id="id_14036987_3417414_2_1">Changes in fair value measurement, assets [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ChangesInFairValueMeasurementAssetsAbstract" xlink:to="ifrs-full_ChangesInFairValueMeasurementAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInMethodsAndAssumptionsInInsuranceContracts" xlink:label="mfc_ChangesInMethodsAndAssumptionsInInsuranceContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInMethodsAndAssumptionsInInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447045_3_1">Change in insurance contracts resulting from changes in methods and assumptions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInMethodsAndAssumptionsInInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447045_1_1">Changes in Methods and Assumptions in Insurance Contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ChangesInMethodsAndAssumptionsInInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447045_2_1">Changes in methods and assumptions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInMethodsAndAssumptionsInInsuranceContracts" xlink:to="mfc_ChangesInMethodsAndAssumptionsInInsuranceContracts_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables" xlink:label="mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables_lbl" xml:lang="en-US" id="id_14036987_3443878_3_1">Changes in policy related and operating receivables and payables.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables_lbl" xml:lang="en-US" id="id_14036987_3443878_1_1">Changes in Policy Related and Operating Receivables and Payables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables_lbl" xml:lang="en-US" id="id_14036987_3443878_14_1">Changes in policy related and operating receivables and payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables" xlink:to="mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsDepositsFromPolicyholders" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsDepositsFromPolicyholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsDepositsFromPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3453115_3_1">Changes in segregated funds net assets, deposits from policyholders.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsDepositsFromPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3453115_1_1">Changes in segregated funds net assets deposits from policyholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsDepositsFromPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3453115_2_1">Deposits from policyholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsDepositsFromPolicyholders" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsDepositsFromPolicyholders_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsImpactOfChangesInForeignExchangeRates" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsImpactOfChangesInForeignExchangeRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsImpactOfChangesInForeignExchangeRates_lbl" xml:lang="en-US" id="id_14036987_3453122_3_1">Changes in segregated funds net assets, impact of changes in foreign exchange rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsImpactOfChangesInForeignExchangeRates_lbl" xml:lang="en-US" id="id_14036987_3453122_1_1">Changes in segregated funds net assets impact of changes in foreign exchange rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsImpactOfChangesInForeignExchangeRates_lbl" xml:lang="en-US" id="id_14036987_3453122_2_1">Impact of changes in foreign exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsImpactOfChangesInForeignExchangeRates" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsImpactOfChangesInForeignExchangeRates_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsInterestAndDividends" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInterestAndDividends"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInterestAndDividends_lbl" xml:lang="en-US" id="id_14036987_3453118_3_1">Changes in segregated funds net assets, interest and dividends.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInterestAndDividends_lbl" xml:lang="en-US" id="id_14036987_3453118_1_1">Changes in segregated funds net assets Interest and dividends</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInterestAndDividends_lbl" xml:lang="en-US" id="id_14036987_3453118_2_1">Interest and dividends</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsInterestAndDividends" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsInterestAndDividends_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelated" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelated"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelated_lbl" xml:lang="en-US" id="id_14036987_3453113_3_1">Changes in segregated funds net assets, investment related.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelated_lbl" xml:lang="en-US" id="id_14036987_3453113_1_1">Changes in segregated funds net assets Investment related</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelated_lbl" xml:lang="en-US" id="id_14036987_3453113_6_1">Investment related</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelated" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelated_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelatedAbstract" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelatedAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelatedAbstract_lbl" xml:lang="en-US" id="id_14036987_3431585_3_1">Changes in segregated funds net assets investment related.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelatedAbstract_lbl" xml:lang="en-US" id="id_14036987_3431585_1_1">Changes in segregated funds net assets Investment related [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelatedAbstract_lbl" xml:lang="en-US" id="id_14036987_3431585_2_1">Investment related</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelatedAbstract" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsInvestmentRelatedAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsManagementAndAdministrationFees" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsManagementAndAdministrationFees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsManagementAndAdministrationFees_lbl" xml:lang="en-US" id="id_14036987_3453120_3_1">Changes in segregated funds net assets, management and administration fees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsManagementAndAdministrationFees_lbl" xml:lang="en-US" id="id_14036987_3453120_1_1">Changes in segregated funds net assets management and administration fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsManagementAndAdministrationFees_lbl" xml:lang="en-US" id="id_14036987_3453120_14_1">Management and administration fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsManagementAndAdministrationFees" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsManagementAndAdministrationFees_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsNetAdditionsDeductions" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetAdditionsDeductions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetAdditionsDeductions_lbl" xml:lang="en-US" id="id_14036987_3447032_3_1">Changes in segregated funds net assets net additions (deductions).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetAdditionsDeductions_lbl" xml:lang="en-US" id="id_14036987_3447032_1_1">Changes in segregated funds net assets net additions (deductions)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetAdditionsDeductions_lbl" xml:lang="en-US" id="id_14036987_3447032_6_1">Net additions (deductions)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsNetAdditionsDeductions" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsNetAdditionsDeductions_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlow" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlow"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlow_lbl" xml:lang="en-US" id="id_14036987_3453112_3_1">Changes in segregated funds net assets, net policyholder cash flow.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlow_lbl" xml:lang="en-US" id="id_14036987_3453112_1_1">Changes in segregated funds net assets net policyholder cash flow</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlow_lbl" xml:lang="en-US" id="id_14036987_3453112_6_1">Net policyholder cash flow</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlowAbstract" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlowAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlowAbstract_lbl" xml:lang="en-US" id="id_14036987_3431583_3_1">Changes in segregated funds net assets net policyholder cash flow.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlowAbstract_lbl" xml:lang="en-US" id="id_14036987_3431583_1_1">Changes in Segregated Funds Net Assets Net Policyholder Cash Flow [abstract]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlowAbstract" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsNetPolicyholderCashFlowAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsNetRealizedAndUnrealizedInvestmentGainsLosses" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetRealizedAndUnrealizedInvestmentGainsLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetRealizedAndUnrealizedInvestmentGainsLosses_lbl" xml:lang="en-US" id="id_14036987_3453119_3_1">Changes in segregated funds net assets, net realized and unrealized investment gains (losses).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetRealizedAndUnrealizedInvestmentGainsLosses_lbl" xml:lang="en-US" id="id_14036987_3453119_1_1">Changes in segregated funds net assets net realized and unrealized investment gains losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetRealizedAndUnrealizedInvestmentGainsLosses_lbl" xml:lang="en-US" id="id_14036987_3453119_2_1">Net realized and unrealized investment gains (losses)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsNetRealizedAndUnrealizedInvestmentGainsLosses" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsNetRealizedAndUnrealizedInvestmentGainsLosses_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsNetTransfersToGeneralFund" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetTransfersToGeneralFund"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetTransfersToGeneralFund_lbl" xml:lang="en-US" id="id_14036987_3453116_3_1">Changes in segregated funds net assets, net transfers to general fund.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetTransfersToGeneralFund_lbl" xml:lang="en-US" id="id_14036987_3453116_1_1">Changes in segregated funds net assets net transfers to general fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsNetTransfersToGeneralFund_lbl" xml:lang="en-US" id="id_14036987_3453116_2_1">Net transfers to general fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsNetTransfersToGeneralFund" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsNetTransfersToGeneralFund_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsOther" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsOther_lbl" xml:lang="en-US" id="id_14036987_3530162_3_1">Changes in segregated funds net assets, other.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsOther_lbl" xml:lang="en-US" id="id_14036987_3530162_1_1">Changes in segregated funds net assets other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsOther_lbl" xml:lang="en-US" id="id_14036987_3530162_6_1">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsOther" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsOther_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsOtherAbstract" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsOtherAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsOtherAbstract_lbl" xml:lang="en-US" id="id_14036987_3431586_3_1">Changes in segregated funds net assets other.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsOtherAbstract_lbl" xml:lang="en-US" id="id_14036987_3431586_1_1">Changes in segregated funds net assets other [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsOtherAbstract_lbl" xml:lang="en-US" id="id_14036987_3431586_2_1">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsOtherAbstract" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsOtherAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ChangesInSegregatedFundsNetAssetsPaymentsToPolicyholders" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsPaymentsToPolicyholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsPaymentsToPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3453117_3_1">Changes in segregated funds net assets, payments to policyholders.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsPaymentsToPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3453117_1_1">Changes in segregated funds net assets payments to policyholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_ChangesInSegregatedFundsNetAssetsPaymentsToPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3453117_14_1">Payments to policyholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ChangesInSegregatedFundsNetAssetsPaymentsToPolicyholders" xlink:to="mfc_ChangesInSegregatedFundsNetAssetsPaymentsToPolicyholders_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries" xlink:label="ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries_lbl" xml:lang="en-US" id="id_14036987_3417176_1_1">Claims and benefits paid, net of reinsurance recoveries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries_lbl" xml:lang="en-US" id="id_14036987_3417176_2_1">Net benefits and claims</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries_lbl" xml:lang="en-US" id="id_14036987_3417176_6_1">Net benefits and claims</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries" xlink:to="ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassASharesSeriesThreeMember" xlink:label="mfc_ClassASharesSeriesThreeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassASharesSeriesThreeMember_lbl" xml:lang="en-US" id="id_14036987_3479755_3_1">Class A shares series three.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassASharesSeriesThreeMember_lbl" xml:lang="en-US" id="id_14036987_3479755_1_1">Class A Shares Series Three [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassASharesSeriesThreeMember_lbl" xml:lang="en-US" id="id_14036987_3479755_2_1">Class A Shares Series 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassASharesSeriesThreeMember" xlink:to="mfc_ClassASharesSeriesThreeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassASharesSeriesTwoMember" xlink:label="mfc_ClassASharesSeriesTwoMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassASharesSeriesTwoMember_lbl" xml:lang="en-US" id="id_14036987_3479754_3_1">Class A shares series two.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassASharesSeriesTwoMember_lbl" xml:lang="en-US" id="id_14036987_3479754_1_1">Class A Shares Series Two [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassASharesSeriesTwoMember_lbl" xml:lang="en-US" id="id_14036987_3479754_2_1">Class A Shares Series 2 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassASharesSeriesTwoMember" xlink:to="mfc_ClassASharesSeriesTwoMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfAssetsAxis_lbl" xml:lang="en-US" id="id_14036987_3417430_1_1">Classes of assets [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfAssetsAxis_lbl" xml:lang="en-US" id="id_14036987_3417430_2_1">Classes of assets [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3417431_1_1">Assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3417431_2_1">Assets [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ifrs-full_ClassesOfAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis_lbl" xml:lang="en-US" id="id_14036987_3417434_1_1">Classes of financial assets [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis_lbl" xml:lang="en-US" id="id_14036987_3417434_2_1">Classes of financial assets [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_ClassesOfFinancialAssetsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis_lbl" xml:lang="en-US" id="id_14036987_3416962_1_1">Classes of financial instruments [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis_lbl" xml:lang="en-US" id="id_14036987_3416962_2_1">Classes of financial instruments [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember_lbl" xml:lang="en-US" id="id_14036987_3417393_1_1">Financial instruments, class [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember_lbl" xml:lang="en-US" id="id_14036987_3417393_2_1">Financial instruments, class [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3417179_1_1">Classes of financial liabilities [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3417179_2_1">Classes of financial liabilities [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:to="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl" xml:lang="en-US" id="id_14036987_3417436_1_1">Classes of intangible assets other than goodwill [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl" xml:lang="en-US" id="id_14036987_3417436_2_1">Classes of intangible assets other than goodwill [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:to="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfProvisionsAxis_lbl" xml:lang="en-US" id="id_14036987_3417396_1_1">Classes of other provisions [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfProvisionsAxis_lbl" xml:lang="en-US" id="id_14036987_3417396_2_1">Classes of other provisions [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_ClassesOfProvisionsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xml:lang="en-US" id="id_14036987_3417439_1_1">Classes of share capital [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xml:lang="en-US" id="id_14036987_3417439_2_1">Classes of share capital [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfShareCapitalMember_lbl" xml:lang="en-US" id="id_14036987_3417180_1_1">Share capital [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfShareCapitalMember_lbl" xml:lang="en-US" id="id_14036987_3417180_2_1">Share capital [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_ClassesOfShareCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesElevenPreferredSharesMember" xlink:label="mfc_ClassOneSeriesElevenPreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesElevenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479585_3_1">Class one series eleven preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesElevenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479585_1_1">Class one series eleven preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesElevenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479585_2_1">Class 1, Series 11 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesElevenPreferredSharesMember" xlink:to="mfc_ClassOneSeriesElevenPreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesFifteenPreferredSharesMember" xlink:label="mfc_ClassOneSeriesFifteenPreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesFifteenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479589_3_1">Class one series fifteen preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesFifteenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479589_1_1">Class one series fifteen preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesFifteenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479589_2_1">Class 1, Series 15 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesFifteenPreferredSharesMember" xlink:to="mfc_ClassOneSeriesFifteenPreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesFivePreferredSharesMember" xlink:label="mfc_ClassOneSeriesFivePreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesFivePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479617_3_1">Class one series five preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesFivePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479617_1_1">Class one series five preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesFivePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479617_2_1">Class 1, Series 5 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesFivePreferredSharesMember" xlink:to="mfc_ClassOneSeriesFivePreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesFourPreferredSharesMember" xlink:label="mfc_ClassOneSeriesFourPreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesFourPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479616_3_1">Class one series four preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesFourPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479616_1_1">Class one series four preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesFourPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479616_2_1">Class 1, Series 4 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesFourPreferredSharesMember" xlink:to="mfc_ClassOneSeriesFourPreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesNinePreferredSharesMember" xlink:label="mfc_ClassOneSeriesNinePreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesNinePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3529981_3_1">Class one series nine preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesNinePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3529981_1_1">Class one series nine preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesNinePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3529981_2_1">Class 1, Series 9 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesNinePreferredSharesMember" xlink:to="mfc_ClassOneSeriesNinePreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesNineteenPreferredSharesMember" xlink:label="mfc_ClassOneSeriesNineteenPreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesNineteenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479587_3_1">Class one series nineteen preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesNineteenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479587_1_1">Class one series nineteen preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesNineteenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479587_2_1">Class 1, Series 19 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesNineteenPreferredSharesMember" xlink:to="mfc_ClassOneSeriesNineteenPreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesSevenPreferredSharesMember" xlink:label="mfc_ClassOneSeriesSevenPreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesSevenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479593_3_1">Class one series seven preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesSevenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479593_1_1">Class one series seven preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesSevenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479593_2_1">Class 1, Series 7 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesSevenPreferredSharesMember" xlink:to="mfc_ClassOneSeriesSevenPreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesSeventeenPreferredSharesMember" xlink:label="mfc_ClassOneSeriesSeventeenPreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesSeventeenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479590_3_1">Class one series seventeen preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesSeventeenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479590_1_1">Class one series seventeen preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesSeventeenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479590_2_1">Class 1, Series 17 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesSeventeenPreferredSharesMember" xlink:to="mfc_ClassOneSeriesSeventeenPreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesThirteenPreferredSharesMember" xlink:label="mfc_ClassOneSeriesThirteenPreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesThirteenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479586_3_1">Class one series thirteen preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesThirteenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479586_1_1">Class one series thirteen preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesThirteenPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479586_2_1">Class 1, Series 13 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesThirteenPreferredSharesMember" xlink:to="mfc_ClassOneSeriesThirteenPreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesThreePreferredSharesMember" xlink:label="mfc_ClassOneSeriesThreePreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesThreePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479623_3_1">Class one series three preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesThreePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479623_1_1">Class one series three preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesThreePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479623_2_1">Class 1, Series 3 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesThreePreferredSharesMember" xlink:to="mfc_ClassOneSeriesThreePreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesTwentyFivePreferredSharesMember" xlink:label="mfc_ClassOneSeriesTwentyFivePreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesTwentyFivePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3536762_3_1">Class one series twenty five preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesTwentyFivePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3536762_1_1">Class one series twenty five preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesTwentyFivePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3536762_2_1">Class 1, Series 25 Preferred Shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesTwentyFivePreferredSharesMember" xlink:to="mfc_ClassOneSeriesTwentyFivePreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesTwentyOnePreferredSharesMember" xlink:label="mfc_ClassOneSeriesTwentyOnePreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesTwentyOnePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479588_3_1">Class one series twenty one preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesTwentyOnePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479588_1_1">Class one series twenty one preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesTwentyOnePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479588_2_1">Class 1, Series 21 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesTwentyOnePreferredSharesMember" xlink:to="mfc_ClassOneSeriesTwentyOnePreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSeriesTwentyThreePreferredSharesMember" xlink:label="mfc_ClassOneSeriesTwentyThreePreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSeriesTwentyThreePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479584_3_1">Class one series twenty three preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSeriesTwentyThreePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479584_1_1">Class one series twenty three preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSeriesTwentyThreePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479584_2_1">Class 1, Series 23 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSeriesTwentyThreePreferredSharesMember" xlink:to="mfc_ClassOneSeriesTwentyThreePreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesElevenMember" xlink:label="mfc_ClassOneSharesSeriesElevenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesElevenMember_lbl" xml:lang="en-US" id="id_14036987_3479761_3_1">Class one shares series eleven.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesElevenMember_lbl" xml:lang="en-US" id="id_14036987_3479761_1_1">Class One Shares Series Eleven [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesElevenMember_lbl" xml:lang="en-US" id="id_14036987_3479761_2_1">Class 1 Shares Series 11 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesElevenMember" xlink:to="mfc_ClassOneSharesSeriesElevenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesFifteenMember" xlink:label="mfc_ClassOneSharesSeriesFifteenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesFifteenMember_lbl" xml:lang="en-US" id="id_14036987_3479763_3_1">Class one shares series fifteen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesFifteenMember_lbl" xml:lang="en-US" id="id_14036987_3479763_1_1">Class One Shares Series Fifteen [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesFifteenMember_lbl" xml:lang="en-US" id="id_14036987_3479763_2_1">Class 1 Shares Series 15 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesFifteenMember" xlink:to="mfc_ClassOneSharesSeriesFifteenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesFiveMember" xlink:label="mfc_ClassOneSharesSeriesFiveMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesFiveMember_lbl" xml:lang="en-US" id="id_14036987_3479758_3_1">Class one shares series five.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesFiveMember_lbl" xml:lang="en-US" id="id_14036987_3479758_1_1">Class One Shares Series Five [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesFiveMember_lbl" xml:lang="en-US" id="id_14036987_3479758_2_1">Class 1 Shares Series 5 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesFiveMember" xlink:to="mfc_ClassOneSharesSeriesFiveMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesFourMember" xlink:label="mfc_ClassOneSharesSeriesFourMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesFourMember_lbl" xml:lang="en-US" id="id_14036987_3479757_3_1">Class one shares series four.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesFourMember_lbl" xml:lang="en-US" id="id_14036987_3479757_1_1">Class One Shares Series Four [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesFourMember_lbl" xml:lang="en-US" id="id_14036987_3479757_2_1">Class 1 Shares Series 4 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesFourMember" xlink:to="mfc_ClassOneSharesSeriesFourMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesNineMember" xlink:label="mfc_ClassOneSharesSeriesNineMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesNineMember_lbl" xml:lang="en-US" id="id_14036987_3479760_3_1">Class one shares series nine.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesNineMember_lbl" xml:lang="en-US" id="id_14036987_3479760_1_1">Class One Shares Series Nine [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesNineMember_lbl" xml:lang="en-US" id="id_14036987_3479760_2_1">Class 1 Shares Series 9 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesNineMember" xlink:to="mfc_ClassOneSharesSeriesNineMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesNineteenMember" xlink:label="mfc_ClassOneSharesSeriesNineteenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesNineteenMember_lbl" xml:lang="en-US" id="id_14036987_3479765_3_1">Class one shares series nineteen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesNineteenMember_lbl" xml:lang="en-US" id="id_14036987_3479765_1_1">Class One Shares Series Nineteen [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesNineteenMember_lbl" xml:lang="en-US" id="id_14036987_3479765_2_1">Class 1 Shares Series 19 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesNineteenMember" xlink:to="mfc_ClassOneSharesSeriesNineteenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesSevenMember" xlink:label="mfc_ClassOneSharesSeriesSevenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesSevenMember_lbl" xml:lang="en-US" id="id_14036987_3479759_3_1">Class one shares series seven.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesSevenMember_lbl" xml:lang="en-US" id="id_14036987_3479759_1_1">Class One Shares Series Seven [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesSevenMember_lbl" xml:lang="en-US" id="id_14036987_3479759_2_1">Class 1 Shares Series 7 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesSevenMember" xlink:to="mfc_ClassOneSharesSeriesSevenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesSeventeenMember" xlink:label="mfc_ClassOneSharesSeriesSeventeenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesSeventeenMember_lbl" xml:lang="en-US" id="id_14036987_3479764_3_1">Class one shares series seventeen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesSeventeenMember_lbl" xml:lang="en-US" id="id_14036987_3479764_1_1">Class One Shares Series Seventeen [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesSeventeenMember_lbl" xml:lang="en-US" id="id_14036987_3479764_2_1">Class 1 Shares Series 17 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesSeventeenMember" xlink:to="mfc_ClassOneSharesSeriesSeventeenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesThirteenMember" xlink:label="mfc_ClassOneSharesSeriesThirteenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesThirteenMember_lbl" xml:lang="en-US" id="id_14036987_3479762_3_1">Class one shares series thirteen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesThirteenMember_lbl" xml:lang="en-US" id="id_14036987_3479762_1_1">Class One Shares Series Thirteen [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesThirteenMember_lbl" xml:lang="en-US" id="id_14036987_3479762_2_1">Class 1 Shares Series 13 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesThirteenMember" xlink:to="mfc_ClassOneSharesSeriesThirteenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesThreeMember" xlink:label="mfc_ClassOneSharesSeriesThreeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesThreeMember_lbl" xml:lang="en-US" id="id_14036987_3479756_3_1">Class one shares series three.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesThreeMember_lbl" xml:lang="en-US" id="id_14036987_3479756_1_1">Class One Shares Series Three [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesThreeMember_lbl" xml:lang="en-US" id="id_14036987_3479756_2_1">Class 1 Shares Series 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesThreeMember" xlink:to="mfc_ClassOneSharesSeriesThreeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesTwentyFiveMember" xlink:label="mfc_ClassOneSharesSeriesTwentyFiveMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesTwentyFiveMember_lbl" xml:lang="en-US" id="id_14036987_3542891_3_1">Class one shares series twenty five.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesTwentyFiveMember_lbl" xml:lang="en-US" id="id_14036987_3542891_1_1">Class One Shares Series Twenty Five [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesTwentyFiveMember_lbl" xml:lang="en-US" id="id_14036987_3542891_2_1">Class 1 Shares Series 25 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesTwentyFiveMember" xlink:to="mfc_ClassOneSharesSeriesTwentyFiveMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesTwentyOneMember" xlink:label="mfc_ClassOneSharesSeriesTwentyOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesTwentyOneMember_lbl" xml:lang="en-US" id="id_14036987_3479766_3_1">Class one shares series twenty one.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesTwentyOneMember_lbl" xml:lang="en-US" id="id_14036987_3479766_1_1">Class One Shares Series Twenty One [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesTwentyOneMember_lbl" xml:lang="en-US" id="id_14036987_3479766_2_1">Class 1 Shares Series 21 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesTwentyOneMember" xlink:to="mfc_ClassOneSharesSeriesTwentyOneMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassOneSharesSeriesTwentyThreeMember" xlink:label="mfc_ClassOneSharesSeriesTwentyThreeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassOneSharesSeriesTwentyThreeMember_lbl" xml:lang="en-US" id="id_14036987_3479767_3_1">Class one shares series twenty three.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassOneSharesSeriesTwentyThreeMember_lbl" xml:lang="en-US" id="id_14036987_3479767_1_1">Class One Shares Series Twenty Three [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassOneSharesSeriesTwentyThreeMember_lbl" xml:lang="en-US" id="id_14036987_3479767_2_1">Class 1 Shares Series 23 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassOneSharesSeriesTwentyThreeMember" xlink:to="mfc_ClassOneSharesSeriesTwentyThreeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassSeriesThreePreferredSharesMember" xlink:label="mfc_ClassSeriesThreePreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassSeriesThreePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479621_3_1">Class A series three preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassSeriesThreePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479621_1_1">Class A series three preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassSeriesThreePreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479621_2_1">Class A, Series 3 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassSeriesThreePreferredSharesMember" xlink:to="mfc_ClassSeriesThreePreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClassSeriesTwoPreferredSharesMember" xlink:label="mfc_ClassSeriesTwoPreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClassSeriesTwoPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479620_3_1">Class A series two preferred shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClassSeriesTwoPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479620_1_1">Class A series two preferred shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClassSeriesTwoPreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3479620_2_1">Class A, Series 2 Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClassSeriesTwoPreferredSharesMember" xlink:to="mfc_ClassSeriesTwoPreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ClearedSwapContractsMember" xlink:label="mfc_ClearedSwapContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ClearedSwapContractsMember_lbl" xml:lang="en-US" id="id_14036987_3479740_3_1">Cleared swap contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ClearedSwapContractsMember_lbl" xml:lang="en-US" id="id_14036987_3479740_1_1">Cleared swap contracts [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ClearedSwapContractsMember_lbl" xml:lang="en-US" id="id_14036987_3479740_2_1">Cleared swap contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ClearedSwapContractsMember" xlink:to="mfc_ClearedSwapContractsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CMBSecuritizationMember" xlink:label="mfc_CMBSecuritizationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CMBSecuritizationMember_lbl" xml:lang="en-US" id="id_14036987_3480116_3_1">CMB securitization.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CMBSecuritizationMember_lbl" xml:lang="en-US" id="id_14036987_3480116_1_1">CMB securitization [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CMBSecuritizationMember_lbl" xml:lang="en-US" id="id_14036987_3480116_2_1">CMB securitization [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CMBSecuritizationMember" xlink:to="mfc_CMBSecuritizationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CoinsuranceAgreementsPercentage" xlink:label="mfc_CoinsuranceAgreementsPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CoinsuranceAgreementsPercentage_lbl" xml:lang="en-US" id="id_14036987_3536715_3_1">Coinsurance agreements percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CoinsuranceAgreementsPercentage_lbl" xml:lang="en-US" id="id_14036987_3536715_1_1">Coinsurance agreements percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CoinsuranceAgreementsPercentage_lbl" xml:lang="en-US" id="id_14036987_3536715_2_1">Quota share coinsurance agreements, percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CoinsuranceAgreementsPercentage" xlink:to="mfc_CoinsuranceAgreementsPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CoinsuranceTransactionAfterTaxGain" xlink:label="mfc_CoinsuranceTransactionAfterTaxGain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CoinsuranceTransactionAfterTaxGain_lbl" xml:lang="en-US" id="id_14036987_3541964_3_1">Coinsurance transaction after tax gain.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CoinsuranceTransactionAfterTaxGain_lbl" xml:lang="en-US" id="id_14036987_3541964_1_1">Coinsurance transaction after tax gain</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CoinsuranceTransactionAfterTaxGain_lbl" xml:lang="en-US" id="id_14036987_3541964_2_1">Coinsurance, after tax gain</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CoinsuranceTransactionAfterTaxGain" xlink:to="mfc_CoinsuranceTransactionAfterTaxGain_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CoinsuranceTransactionAfterTaxLoss" xlink:label="mfc_CoinsuranceTransactionAfterTaxLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CoinsuranceTransactionAfterTaxLoss_lbl" xml:lang="en-US" id="id_14036987_3536716_3_1">Coinsurance transaction after tax loss.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CoinsuranceTransactionAfterTaxLoss_lbl" xml:lang="en-US" id="id_14036987_3536716_1_1">Coinsurance transaction after tax loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CoinsuranceTransactionAfterTaxLoss_lbl" xml:lang="en-US" id="id_14036987_3536716_2_1">Coinsurance, after tax loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CoinsuranceTransactionAfterTaxLoss" xlink:to="mfc_CoinsuranceTransactionAfterTaxLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CommercialMortgageAssetbackedSecuritiesMember" xlink:label="mfc_CommercialMortgageAssetbackedSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CommercialMortgageAssetbackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480137_3_1">Commercial mortgage asset-backed securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CommercialMortgageAssetbackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480137_1_1">Commercial mortgage asset-backed securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CommercialMortgageAssetbackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480137_2_1">Commercial mortgage asset-backed securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CommercialMortgageAssetbackedSecuritiesMember" xlink:to="mfc_CommercialMortgageAssetbackedSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CommercialMortgageBackedSecurities1Member" xlink:label="mfc_CommercialMortgageBackedSecurities1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CommercialMortgageBackedSecurities1Member_lbl" xml:lang="en-US" id="id_14036987_3477321_3_1">Commercial mortgage backed securities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CommercialMortgageBackedSecurities1Member_lbl" xml:lang="en-US" id="id_14036987_3477321_1_1">Commercial Mortgage Backed Securities 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CommercialMortgageBackedSecurities1Member_lbl" xml:lang="en-US" id="id_14036987_3477321_2_1">CMBS [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CommercialMortgageBackedSecurities1Member" xlink:to="mfc_CommercialMortgageBackedSecurities1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CommercialMortgagesAndPrivatePlacementsMember" xlink:label="mfc_CommercialMortgagesAndPrivatePlacementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CommercialMortgagesAndPrivatePlacementsMember_lbl" xml:lang="en-US" id="id_14036987_3489235_3_1">Commercial mortgages and private placements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CommercialMortgagesAndPrivatePlacementsMember_lbl" xml:lang="en-US" id="id_14036987_3489235_1_1">Commercial Mortgages And Private Placements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CommercialMortgagesAndPrivatePlacementsMember_lbl" xml:lang="en-US" id="id_14036987_3489235_2_1">Commercial mortgages and private placements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CommercialMortgagesAndPrivatePlacementsMember" xlink:to="mfc_CommercialMortgagesAndPrivatePlacementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CommercialMortgagesMember" xlink:label="mfc_CommercialMortgagesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CommercialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479697_3_1">Commercial mortgages.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CommercialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479697_1_1">Commercial mortgages [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CommercialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479697_2_1">Commercial mortgages [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CommercialMortgagesMember" xlink:to="mfc_CommercialMortgagesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CommissionsInvestmentAndGeneralExpenses" xlink:label="mfc_CommissionsInvestmentAndGeneralExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CommissionsInvestmentAndGeneralExpenses_lbl" xml:lang="en-US" id="id_14036987_3453197_3_1">Commissions, investment and general expenses.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CommissionsInvestmentAndGeneralExpenses_lbl" xml:lang="en-US" id="id_14036987_3453197_1_1">Commissions, Investment and General Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CommissionsInvestmentAndGeneralExpenses_lbl" xml:lang="en-US" id="id_14036987_3453197_2_1">Commissions, investment and general expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CommissionsInvestmentAndGeneralExpenses" xlink:to="mfc_CommissionsInvestmentAndGeneralExpenses_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CommitmentAndContingenciesAbstract" xlink:label="mfc_CommitmentAndContingenciesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CommitmentAndContingenciesAbstract_lbl" xml:lang="en-US" id="id_14036987_3431391_3_1">Commitment And Contingencies [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CommitmentAndContingenciesAbstract_lbl" xml:lang="en-US" id="id_14036987_3431391_1_1">Commitment And Contingencies [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CommitmentAndContingenciesAbstract_lbl" xml:lang="en-US" id="id_14036987_3431391_2_1">Commitment And Contingencies [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CommitmentAndContingenciesAbstract" xlink:to="mfc_CommitmentAndContingenciesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ifrs-full_ComponentsOfEquityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xml:lang="en-US" id="id_14036987_3417632_1_1">Components of equity [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xml:lang="en-US" id="id_14036987_3417632_2_1">Components of equity [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_ComponentsOfEquityAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xml:lang="en-US" id="id_14036987_3417845_1_1">Components of other comprehensive income that will be reclassified to profit or loss, net of tax [abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xml:lang="en-US" id="id_14036987_3417846_1_1">Components of other comprehensive income that will not be reclassified to profit or loss, net of tax [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xml:lang="en-US" id="id_14036987_3417846_2_1">Items that will not be reclassified to net income:</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CompositionOfSegregatedFundsNetAssetsAbstract_lbl" xml:lang="en-US" id="id_14036987_3431577_3_1">Composition Of Segregated Funds Net Assets abstract.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CompositionOfSegregatedFundsNetAssetsAbstract_lbl" xml:lang="en-US" id="id_14036987_3431577_1_1">Composition Of Segregated Funds Net Assets [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CompositionOfSegregatedFundsNetAssetsAbstract_lbl" xml:lang="en-US" id="id_14036987_3431577_2_1">Composition of segregated funds net assets</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3417449_1_1">Comprehensive income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3417449_6_1">Total comprehensive income (loss), net of tax</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xml:lang="en-US" id="id_14036987_3417451_1_1">Comprehensive income attributable to [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xml:lang="en-US" id="id_14036987_3417451_2_1">Total comprehensive income (loss) attributed to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3417452_1_1">Comprehensive income, attributable to non-controlling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3417452_14_1">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xml:lang="en-US" id="id_14036987_3417847_1_1">Comprehensive income, attributable to owners of parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xml:lang="en-US" id="id_14036987_3417847_6_1">Shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders" xlink:label="mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443874_3_1">Comprehensive income attributable to participating policyholders.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443874_1_1">Comprehensive Income Attributable to Participating Policyholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443874_14_1">Participating policyholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders" xlink:to="mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComputerSoftwareMember" xlink:label="ifrs-full_ComputerSoftwareMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComputerSoftwareMember_lbl" xml:lang="en-US" id="id_14036987_3417635_1_1">Computer software [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComputerSoftwareMember_lbl" xml:lang="en-US" id="id_14036987_3417635_2_1">Software [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ConcentrationsOfInsuranceRisk" xlink:label="mfc_ConcentrationsOfInsuranceRisk"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ConcentrationsOfInsuranceRisk_lbl" xml:lang="en-US" id="id_14036987_3453018_3_1">Concentrations of insurance risk.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ConcentrationsOfInsuranceRisk_lbl" xml:lang="en-US" id="id_14036987_3453018_1_1">Concentrations of insurance risk</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ConcentrationsOfInsuranceRisk_lbl" xml:lang="en-US" id="id_14036987_3453018_2_1">Concentration risk of liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ConcentrationsOfInsuranceRisk" xlink:to="mfc_ConcentrationsOfInsuranceRisk_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CondensedBalanceSheetStatementsCaptionsLineItems" xlink:label="srt_CondensedBalanceSheetStatementsCaptionsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CondensedBalanceSheetStatementsCaptionsLineItems_lbl" xml:lang="en-US" id="id_14036987_3417454_1_1">Condensed Balance Sheet Statements, Captions [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_CondensedBalanceSheetStatementsCaptionsLineItems_lbl" xml:lang="en-US" id="id_14036987_3417454_2_1">Condensed Balance Sheet Statements, Captions [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CondensedBalanceSheetStatementsCaptionsLineItems" xlink:to="srt_CondensedBalanceSheetStatementsCaptionsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CondensedBalanceSheetStatementTable" xlink:label="srt_CondensedBalanceSheetStatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CondensedBalanceSheetStatementTable_lbl" xml:lang="en-US" id="id_14036987_3417851_1_1">Condensed Balance Sheet Statement [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_CondensedBalanceSheetStatementTable_lbl" xml:lang="en-US" id="id_14036987_3417851_2_1">Condensed Balance Sheet Statement [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CondensedBalanceSheetStatementTable" xlink:to="srt_CondensedBalanceSheetStatementTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CondensedCashFlowStatementsCaptionsLineItems" xlink:label="srt_CondensedCashFlowStatementsCaptionsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CondensedCashFlowStatementsCaptionsLineItems_lbl" xml:lang="en-US" id="id_14036987_3417455_1_1">Condensed Cash Flow Statements, Captions [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_CondensedCashFlowStatementsCaptionsLineItems_lbl" xml:lang="en-US" id="id_14036987_3417455_2_1">Condensed Cash Flow Statements, Captions [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CondensedCashFlowStatementsCaptionsLineItems" xlink:to="srt_CondensedCashFlowStatementsCaptionsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CondensedCashFlowStatementTable" xlink:label="srt_CondensedCashFlowStatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CondensedCashFlowStatementTable_lbl" xml:lang="en-US" id="id_14036987_3417456_1_1">Condensed Cash Flow Statement [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_CondensedCashFlowStatementTable_lbl" xml:lang="en-US" id="id_14036987_3417456_2_1">Condensed Cash Flow Statement [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CondensedCashFlowStatementTable" xlink:to="srt_CondensedCashFlowStatementTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CondensedFinancialStatementsCaptionsLineItems" xlink:label="srt_CondensedFinancialStatementsCaptionsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CondensedFinancialStatementsCaptionsLineItems_lbl" xml:lang="en-US" id="id_14036987_3417639_1_1">Condensed Financial Statements, Captions [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_CondensedFinancialStatementsCaptionsLineItems_lbl" xml:lang="en-US" id="id_14036987_3417639_2_1">Condensed Financial Statements, Captions [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CondensedFinancialStatementsCaptionsLineItems" xlink:to="srt_CondensedFinancialStatementsCaptionsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CondensedIncomeStatementsCaptionsLineItems" xlink:label="srt_CondensedIncomeStatementsCaptionsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CondensedIncomeStatementsCaptionsLineItems_lbl" xml:lang="en-US" id="id_14036987_3417640_1_1">Condensed Income Statements, Captions [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_CondensedIncomeStatementsCaptionsLineItems_lbl" xml:lang="en-US" id="id_14036987_3417640_2_1">Condensed Income Statements, Captions [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CondensedIncomeStatementsCaptionsLineItems" xlink:to="srt_CondensedIncomeStatementsCaptionsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CondensedIncomeStatementTable" xlink:label="srt_CondensedIncomeStatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CondensedIncomeStatementTable_lbl" xml:lang="en-US" id="id_14036987_3417457_1_1">Condensed Income Statement [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_CondensedIncomeStatementTable_lbl" xml:lang="en-US" id="id_14036987_3417457_2_1">Condensed Income Statement [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CondensedIncomeStatementTable" xlink:to="srt_CondensedIncomeStatementTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis" xlink:label="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis_lbl" xml:lang="en-US" id="id_14036987_3417644_1_1">Consolidated and separate financial statements [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis_lbl" xml:lang="en-US" id="id_14036987_3417644_2_1">Consolidated and separate financial statements [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis" xlink:to="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ConsolidatedCapital" xlink:label="mfc_ConsolidatedCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ConsolidatedCapital_lbl" xml:lang="en-US" id="id_14036987_3541980_3_1">Consolidated capital.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ConsolidatedCapital_lbl" xml:lang="en-US" id="id_14036987_3541980_1_1">Consolidated Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_ConsolidatedCapital_lbl" xml:lang="en-US" id="id_14036987_3541980_6_1">Consolidated capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ConsolidatedCapital" xlink:to="mfc_ConsolidatedCapital_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ConsolidatedMember" xlink:label="ifrs-full_ConsolidatedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ConsolidatedMember_lbl" xml:lang="en-US" id="id_14036987_3417856_1_1">Consolidated [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ConsolidatedMember_lbl" xml:lang="en-US" id="id_14036987_3417856_2_1">Consolidated [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConsolidatedMember" xlink:to="ifrs-full_ConsolidatedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ConsolidatingAdjustmentsMember" xlink:label="mfc_ConsolidatingAdjustmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ConsolidatingAdjustmentsMember_lbl" xml:lang="en-US" id="id_14036987_3480414_3_1">Consolidating adjustments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ConsolidatingAdjustmentsMember_lbl" xml:lang="en-US" id="id_14036987_3480414_1_1">Consolidating adjustments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ConsolidatingAdjustmentsMember_lbl" xml:lang="en-US" id="id_14036987_3480414_2_1">Consolidating adjustments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ConsolidatingAdjustmentsMember" xlink:to="mfc_ConsolidatingAdjustmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ConsolidationAdjustmentsMember" xlink:label="mfc_ConsolidationAdjustmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ConsolidationAdjustmentsMember_lbl" xml:lang="en-US" id="id_14036987_3509079_3_1">Consolidation adjustments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ConsolidationAdjustmentsMember_lbl" xml:lang="en-US" id="id_14036987_3509079_1_1">Consolidation adjustments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ConsolidationAdjustmentsMember_lbl" xml:lang="en-US" id="id_14036987_3509079_2_1">Consolidation adjustments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ConsolidationAdjustmentsMember" xlink:to="mfc_ConsolidationAdjustmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_ConsolidationEliminationsMember" xlink:label="srt_ConsolidationEliminationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ConsolidationEliminationsMember_lbl" xml:lang="en-US" id="id_14036987_3417857_1_1">Consolidation, Eliminations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ConsolidationEliminationsMember_lbl" xml:lang="en-US" id="id_14036987_3417857_2_1">Consolidation adjustments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ConsolidationEliminationsMember" xlink:to="srt_ConsolidationEliminationsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="srt_ConsolidationItemsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ConsolidationItemsAxis_lbl" xml:lang="en-US" id="id_14036987_3417645_1_1">Consolidation Items [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ConsolidationItemsAxis_lbl" xml:lang="en-US" id="id_14036987_3417645_2_1">Consolidation Items [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ConsolidationItemsAxis" xlink:to="srt_ConsolidationItemsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="srt_ConsolidationItemsDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ConsolidationItemsDomain_lbl" xml:lang="en-US" id="id_14036987_3418065_1_1">Consolidation Items [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ConsolidationItemsDomain_lbl" xml:lang="en-US" id="id_14036987_3418065_2_1">Consolidation Items [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ConsolidationItemsDomain" xlink:to="srt_ConsolidationItemsDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiaries" xlink:label="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiaries_lbl" xml:lang="en-US" id="id_14036987_3453732_3_1">Contract benefits and expenses to contract holders and beneficiaries.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiaries_lbl" xml:lang="en-US" id="id_14036987_3453732_1_1">Contract Benefits and Expenses to Contract Holders and Beneficiaries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiaries_lbl" xml:lang="en-US" id="id_14036987_3453732_6_1">Total contract benefits and expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiaries" xlink:to="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiaries_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiariesAbstract" xlink:label="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiariesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiariesAbstract_lbl" xml:lang="en-US" id="id_14036987_3531098_3_1">Contract Benefits and Expenses to Contract Holders and Beneficiaries[abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiariesAbstract_lbl" xml:lang="en-US" id="id_14036987_3531098_1_1">Contract Benefits and Expenses to Contract Holders and Beneficiaries[abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiariesAbstract_lbl" xml:lang="en-US" id="id_14036987_3531098_2_1">Contract benefits and expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiariesAbstract" xlink:to="mfc_ContractBenefitsAndExpensesToContractHoldersAndBeneficiariesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ContractLiabilitiesInGrossClaimsAndBenefits" xlink:label="mfc_ContractLiabilitiesInGrossClaimsAndBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ContractLiabilitiesInGrossClaimsAndBenefits_lbl" xml:lang="en-US" id="id_14036987_3446812_3_1">Contract liabilities in gross claims and benefits.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ContractLiabilitiesInGrossClaimsAndBenefits_lbl" xml:lang="en-US" id="id_14036987_3446812_1_1">Contract liabilities in gross claims and benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ContractLiabilitiesInGrossClaimsAndBenefits_lbl" xml:lang="en-US" id="id_14036987_3446812_2_1">Contract liabilities in gross claims and benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ContractLiabilitiesInGrossClaimsAndBenefits" xlink:to="mfc_ContractLiabilitiesInGrossClaimsAndBenefits_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ContractualMaturitiesAssumptionsAxis" xlink:label="mfc_ContractualMaturitiesAssumptionsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ContractualMaturitiesAssumptionsAxis_lbl" xml:lang="en-US" id="id_14036987_3475546_3_1">Contractual maturities assumptions [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ContractualMaturitiesAssumptionsAxis_lbl" xml:lang="en-US" id="id_14036987_3475546_1_1">Contractual maturities assumptions [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ContractualMaturitiesAssumptionsAxis_lbl" xml:lang="en-US" id="id_14036987_3475546_2_1">Contractual maturities assumptions [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ContractualMaturitiesAssumptionsAxis" xlink:to="mfc_ContractualMaturitiesAssumptionsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ContractualMaturitiesAssumptionsDomain" xlink:label="mfc_ContractualMaturitiesAssumptionsDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ContractualMaturitiesAssumptionsDomain_lbl" xml:lang="en-US" id="id_14036987_3493317_3_1">Contractual maturities assumptions [domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ContractualMaturitiesAssumptionsDomain_lbl" xml:lang="en-US" id="id_14036987_3493317_1_1">Contractual maturities assumptions [domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ContractualMaturitiesAssumptionsDomain_lbl" xml:lang="en-US" id="id_14036987_3493317_2_1">Contractual maturities assumptions [domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ContractualMaturitiesAssumptionsDomain" xlink:to="mfc_ContractualMaturitiesAssumptionsDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ContractualObligationsAndCommitmentsInvestmentContracts" xlink:label="mfc_ContractualObligationsAndCommitmentsInvestmentContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ContractualObligationsAndCommitmentsInvestmentContracts_lbl" xml:lang="en-US" id="id_14036987_3453132_3_1">Contractual obligations and commitments,investment contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ContractualObligationsAndCommitmentsInvestmentContracts_lbl" xml:lang="en-US" id="id_14036987_3453132_1_1">Contractual Obligations And Commitments,Investment Contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ContractualObligationsAndCommitmentsInvestmentContracts_lbl" xml:lang="en-US" id="id_14036987_3453132_2_1">Contractual obligations and commitments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ContractualObligationsAndCommitmentsInvestmentContracts" xlink:to="mfc_ContractualObligationsAndCommitmentsInvestmentContracts_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ContributionsFromDistributionsToNoncontrollingInterests" xlink:label="mfc_ContributionsFromDistributionsToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ContributionsFromDistributionsToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3447030_3_1">Contributions from (distributions to) non-controlling interests.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ContributionsFromDistributionsToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3447030_1_1">Contributions from (distributions to) non-controlling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ContributionsFromDistributionsToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3447030_2_1">Contributions from (distributions to) non-controlling interests, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ContributionsFromDistributionsToNoncontrollingInterests" xlink:to="mfc_ContributionsFromDistributionsToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ContributionsNetNoncontrollingInterests" xlink:label="mfc_ContributionsNetNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ContributionsNetNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3443865_3_1">Contributions net noncontrolling interests.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ContributionsNetNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3443865_1_1">Contributions Net Noncontrolling Interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ContributionsNetNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3443865_2_1">Contributions (distributions), net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ContributionsNetNoncontrollingInterests" xlink:to="mfc_ContributionsNetNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3418086_1_1">Contributions to plan by employer, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3418086_14_1">Employer contributions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417475_1_1">Contributions to plan by plan participants, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417475_2_1">Plan participants' contributions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3418087_1_1">Contributions to plan, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3418087_2_1">Cash payment for future benefit plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CorporateAndSwapSpreadsMember" xlink:label="mfc_CorporateAndSwapSpreadsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CorporateAndSwapSpreadsMember_lbl" xml:lang="en-US" id="id_14036987_3494877_3_1">Corporate and swap spreads.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CorporateAndSwapSpreadsMember_lbl" xml:lang="en-US" id="id_14036987_3494877_1_1">Corporate and Swap Spreads [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CorporateAndSwapSpreadsMember_lbl" xml:lang="en-US" id="id_14036987_3494877_2_1">Corporate and swap spreads [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CorporateAndSwapSpreadsMember" xlink:to="mfc_CorporateAndSwapSpreadsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CorporateDebtMember" xlink:label="mfc_CorporateDebtMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CorporateDebtMember_lbl" xml:lang="en-US" id="id_14036987_3477314_3_1">Corporate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CorporateDebtMember_lbl" xml:lang="en-US" id="id_14036987_3477314_1_1">Corporate Debt [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CorporateDebtMember_lbl" xml:lang="en-US" id="id_14036987_3477314_2_1">Corporate [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CorporateDebtMember" xlink:to="mfc_CorporateDebtMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CorporateMember" xlink:label="mfc_CorporateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CorporateMember_lbl" xml:lang="en-US" id="id_14036987_3532589_3_1">Corporate [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CorporateMember_lbl" xml:lang="en-US" id="id_14036987_3532589_1_1">Corporate [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CorporateMember_lbl" xml:lang="en-US" id="id_14036987_3532589_2_1">Corporate [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CorporateMember" xlink:to="mfc_CorporateMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CorporateSpreadAssumptionsMember" xlink:label="mfc_CorporateSpreadAssumptionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CorporateSpreadAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3494899_3_1">Corporate Spread Assumptions [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CorporateSpreadAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3494899_1_1">Corporate Spread Assumptions [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CorporateSpreadAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3494899_2_1">Corporate Spread Assumptions [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CorporateSpreadAssumptionsMember" xlink:to="mfc_CorporateSpreadAssumptionsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CorporateSpreadsMember" xlink:label="mfc_CorporateSpreadsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CorporateSpreadsMember_lbl" xml:lang="en-US" id="id_14036987_3489475_3_1">Corporate spreads.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CorporateSpreadsMember_lbl" xml:lang="en-US" id="id_14036987_3489475_1_1">Corporate spreads [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CorporateSpreadsMember_lbl" xml:lang="en-US" id="id_14036987_3489475_2_1">Corporate spreads [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CorporateSpreadsMember" xlink:to="mfc_CorporateSpreadsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CreditDefaultSwapsMember" xlink:label="mfc_CreditDefaultSwapsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CreditDefaultSwapsMember_lbl" xml:lang="en-US" id="id_14036987_3479004_3_1">Credit default swaps.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CreditDefaultSwapsMember_lbl" xml:lang="en-US" id="id_14036987_3479004_1_1">Credit default swaps [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CreditDefaultSwapsMember_lbl" xml:lang="en-US" id="id_14036987_3479004_2_1">Credit default swaps [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CreditDefaultSwapsMember" xlink:to="mfc_CreditDefaultSwapsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CreditDerivativePurchasedCreditProtection1" xlink:label="mfc_CreditDerivativePurchasedCreditProtection1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CreditDerivativePurchasedCreditProtection1_lbl" xml:lang="en-US" id="id_14036987_3446592_3_1">Credit derivative purchased credit protection.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CreditDerivativePurchasedCreditProtection1_lbl" xml:lang="en-US" id="id_14036987_3446592_1_1">Credit derivative purchased credit protection1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CreditDerivativePurchasedCreditProtection1_lbl" xml:lang="en-US" id="id_14036987_3446592_2_1">Credit protection purchased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CreditDerivativePurchasedCreditProtection1" xlink:to="mfc_CreditDerivativePurchasedCreditProtection1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CreditDerivativesMember" xlink:label="mfc_CreditDerivativesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CreditDerivativesMember_lbl" xml:lang="en-US" id="id_14036987_3479753_3_1">Credit derivatives.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CreditDerivativesMember_lbl" xml:lang="en-US" id="id_14036987_3479753_1_1">Credit derivatives [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CreditDerivativesMember_lbl" xml:lang="en-US" id="id_14036987_3479753_2_1">Credit derivatives [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CreditDerivativesMember" xlink:to="mfc_CreditDerivativesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CreditLinkedNoteMember" xlink:label="mfc_CreditLinkedNoteMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CreditLinkedNoteMember_lbl" xml:lang="en-US" id="id_14036987_3502138_3_1">Credit linked note.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CreditLinkedNoteMember_lbl" xml:lang="en-US" id="id_14036987_3502138_1_1">Credit Linked Note [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CreditLinkedNoteMember_lbl" xml:lang="en-US" id="id_14036987_3502138_2_1">Credit Linked Note [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CreditLinkedNoteMember" xlink:to="mfc_CreditLinkedNoteMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CreditRiskDerivativesAtFairValueNet1" xlink:label="mfc_CreditRiskDerivativesAtFairValueNet1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CreditRiskDerivativesAtFairValueNet1_lbl" xml:lang="en-US" id="id_14036987_3446742_3_1">Credit risk derivatives at fair value net.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CreditRiskDerivativesAtFairValueNet1_lbl" xml:lang="en-US" id="id_14036987_3446742_1_1">Credit risk derivatives at fair value net1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CreditRiskDerivativesAtFairValueNet1_lbl" xml:lang="en-US" id="id_14036987_3446742_2_1">Credit risk equivalent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CreditRiskDerivativesAtFairValueNet1" xlink:to="mfc_CreditRiskDerivativesAtFairValueNet1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CreditRiskWeightedAmount" xlink:label="mfc_CreditRiskWeightedAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CreditRiskWeightedAmount_lbl" xml:lang="en-US" id="id_14036987_3446733_3_1">Credit risk weighted amount.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CreditRiskWeightedAmount_lbl" xml:lang="en-US" id="id_14036987_3446733_1_1">Credit risk weighted amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CreditRiskWeightedAmount_lbl" xml:lang="en-US" id="id_14036987_3446733_2_1">Risk- weighted amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CreditRiskWeightedAmount" xlink:to="mfc_CreditRiskWeightedAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments" xlink:label="mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl" xml:lang="en-US" id="id_14036987_3446720_3_1">Currency movement of multiple significant unobservable inputs on derivative instruments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl" xml:lang="en-US" id="id_14036987_3446720_1_1">Currency movement of multiple significant unobservable inputs on derivative instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl" xml:lang="en-US" id="id_14036987_3446720_14_1">Currency movement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments" xlink:to="mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CurrencyRateFuturesMember" xlink:label="mfc_CurrencyRateFuturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CurrencyRateFuturesMember_lbl" xml:lang="en-US" id="id_14036987_3479855_3_1">Currency rate futures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CurrencyRateFuturesMember_lbl" xml:lang="en-US" id="id_14036987_3479855_1_1">Currency rate futures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CurrencyRateFuturesMember_lbl" xml:lang="en-US" id="id_14036987_3479855_2_1">Currency rate futures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CurrencyRateFuturesMember" xlink:to="mfc_CurrencyRateFuturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrencyRiskMember" xlink:label="ifrs-full_CurrencyRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrencyRiskMember_lbl" xml:lang="en-US" id="id_14036987_3417893_1_1">Currency risk [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrencyRiskMember_lbl" xml:lang="en-US" id="id_14036987_3417893_2_1">Foreign Exchange Risk [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrencyRiskMember" xlink:to="ifrs-full_CurrencyRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrencySwapContractMember" xlink:label="ifrs-full_CurrencySwapContractMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrencySwapContractMember_lbl" xml:lang="en-US" id="id_14036987_3417496_1_1">Currency swap contract [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrencySwapContractMember_lbl" xml:lang="en-US" id="id_14036987_3417496_2_1">Foreign currency swaps [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrencySwapContractMember" xlink:to="ifrs-full_CurrencySwapContractMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" xlink:label="ifrs-full_CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl" xml:lang="en-US" id="id_14036987_3418105_1_1">Current and deferred tax relating to items credited (charged) directly to equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl" xml:lang="en-US" id="id_14036987_3418105_6_1">Income tax expense (recovery)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" xlink:to="ifrs-full_CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US" id="id_14036987_3417510_1_1">Current Fiscal Year End Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US" id="id_14036987_3417510_2_1">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417527_1_1">Current service cost, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417527_2_1">Current service cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417527_14_1">Defined benefit current service cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxAssetsCurrent_lbl" xml:lang="en-US" id="id_14036987_3417528_1_1">Current tax assets, current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxAssetsCurrent_lbl" xml:lang="en-US" id="id_14036987_3417528_2_1">Current tax receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxAssetsCurrent" xlink:to="ifrs-full_CurrentTaxAssetsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="ifrs-full_CurrentTaxExpenseIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxExpenseIncome_lbl" xml:lang="en-US" id="id_14036987_3417916_1_1">Current tax expense (income)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxExpenseIncome_lbl" xml:lang="en-US" id="id_14036987_3417916_2_1">Current year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncome" xlink:to="ifrs-full_CurrentTaxExpenseIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods_lbl" xml:lang="en-US" id="id_14036987_3417719_1_1">Current tax expense (income) and adjustments for current tax of prior periods</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods_lbl" xml:lang="en-US" id="id_14036987_3417719_6_1">Current tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" xlink:to="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsAbstract" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsAbstract_lbl" xml:lang="en-US" id="id_14036987_3417917_1_1">Current tax expense (income) and adjustments for current tax of prior periods [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsAbstract_lbl" xml:lang="en-US" id="id_14036987_3417917_2_1">Current tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsAbstract" xlink:to="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xml:lang="en-US" id="id_14036987_3417529_1_1">Current tax liabilities, current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xml:lang="en-US" id="id_14036987_3417529_2_1">Current tax payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" xlink:label="ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl" xml:lang="en-US" id="id_14036987_3418131_1_1">Current tax relating to items credited (charged) directly to equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl" xml:lang="en-US" id="id_14036987_3418131_2_1">Current income tax expense (recovery)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" xlink:to="ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome" xlink:label="mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3446706_3_1">Current tax relating to items credited charged directly to other comprehensive income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3446706_1_1">Current tax relating to items credited charged directly to other comprehensive income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3446706_2_1">Current income tax expense (recovery)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome" xlink:to="mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CurtailmentGainLoss" xlink:label="mfc_CurtailmentGainLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CurtailmentGainLoss_lbl" xml:lang="en-US" id="id_14036987_3536744_3_1">Curtailment gain (loss).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CurtailmentGainLoss_lbl" xml:lang="en-US" id="id_14036987_3536744_1_1">Curtailment gain (loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CurtailmentGainLoss_lbl" xml:lang="en-US" id="id_14036987_3536744_2_1">Curtailment gain (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CurtailmentGainLoss" xlink:to="mfc_CurtailmentGainLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3417722_1_1">Customer-related intangible assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3417722_2_1">Customer relationships [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_CyclicalConsumerMember" xlink:label="mfc_CyclicalConsumerMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_CyclicalConsumerMember_lbl" xml:lang="en-US" id="id_14036987_3479689_3_1">Cyclical consumer.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_CyclicalConsumerMember_lbl" xml:lang="en-US" id="id_14036987_3479689_1_1">Cyclical consumer [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_CyclicalConsumerMember_lbl" xml:lang="en-US" id="id_14036987_3479689_2_1">Consumer (cyclical) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_CyclicalConsumerMember" xlink:to="mfc_CyclicalConsumerMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DeathBenefitMember" xlink:label="mfc_DeathBenefitMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DeathBenefitMember_lbl" xml:lang="en-US" id="id_14036987_3492529_3_1">Death benefit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DeathBenefitMember_lbl" xml:lang="en-US" id="id_14036987_3492529_1_1">Death benefit [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DeathBenefitMember_lbl" xml:lang="en-US" id="id_14036987_3492529_2_1">Death benefits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DeathBenefitMember" xlink:to="mfc_DeathBenefitMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DeathDisabilityAndOtherClaimsMember" xlink:label="mfc_DeathDisabilityAndOtherClaimsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DeathDisabilityAndOtherClaimsMember_lbl" xml:lang="en-US" id="id_14036987_3479628_3_1">Death, disability and other claims [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DeathDisabilityAndOtherClaimsMember_lbl" xml:lang="en-US" id="id_14036987_3479628_1_1">Death, disability and other claims [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DeathDisabilityAndOtherClaimsMember_lbl" xml:lang="en-US" id="id_14036987_3479628_2_1">Death, disability and other claims [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DeathDisabilityAndOtherClaimsMember" xlink:to="mfc_DeathDisabilityAndOtherClaimsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtInstrumentBasisPoints" xlink:label="mfc_DebtInstrumentBasisPoints"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtInstrumentBasisPoints_lbl" xml:lang="en-US" id="id_14036987_3526254_3_1">Debt instrument basis points.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtInstrumentBasisPoints_lbl" xml:lang="en-US" id="id_14036987_3526254_1_1">Debt instrument basis points</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtInstrumentBasisPoints_lbl" xml:lang="en-US" id="id_14036987_3526254_2_1">Number of basis points</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtInstrumentBasisPoints" xlink:to="mfc_DebtInstrumentBasisPoints_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtInstrumentIssuanceDate2" xlink:label="mfc_DebtInstrumentIssuanceDate2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtInstrumentIssuanceDate2_lbl" xml:lang="en-US" id="id_14036987_3470984_3_1">Debt instrument issuance date2.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtInstrumentIssuanceDate2_lbl" xml:lang="en-US" id="id_14036987_3470984_1_1">Debt instrument issuance date2</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtInstrumentIssuanceDate2_lbl" xml:lang="en-US" id="id_14036987_3470984_2_1">Issue date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtInstrumentIssuanceDate2" xlink:to="mfc_DebtInstrumentIssuanceDate2_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtInstrumentMaturityDate1" xlink:label="mfc_DebtInstrumentMaturityDate1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtInstrumentMaturityDate1_lbl" xml:lang="en-US" id="id_14036987_3470989_3_1">Debt instrument maturity date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtInstrumentMaturityDate1_lbl" xml:lang="en-US" id="id_14036987_3470989_1_1">Debt instrument maturity date1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtInstrumentMaturityDate1_lbl" xml:lang="en-US" id="id_14036987_3470989_2_1">Maturity date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtInstrumentMaturityDate1" xlink:to="mfc_DebtInstrumentMaturityDate1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtInstrumentMaturityPeriod" xlink:label="mfc_DebtInstrumentMaturityPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtInstrumentMaturityPeriod_lbl" xml:lang="en-US" id="id_14036987_3472382_3_1">Debt instrument maturity period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtInstrumentMaturityPeriod_lbl" xml:lang="en-US" id="id_14036987_3472382_1_1">Debt instrument maturity period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtInstrumentMaturityPeriod_lbl" xml:lang="en-US" id="id_14036987_3472382_2_1">Debt instrument, maturity period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtInstrumentMaturityPeriod" xlink:to="mfc_DebtInstrumentMaturityPeriod_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtInstrumentParValue" xlink:label="mfc_DebtInstrumentParValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtInstrumentParValue_lbl" xml:lang="en-US" id="id_14036987_3453736_3_1">Debt instrument par value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtInstrumentParValue_lbl" xml:lang="en-US" id="id_14036987_3453736_1_1">Debt Instrument Par Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtInstrumentParValue_lbl" xml:lang="en-US" id="id_14036987_3453736_2_1">Par value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtInstrumentParValue" xlink:to="mfc_DebtInstrumentParValue_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtInstrumentRedemptionDate" xlink:label="mfc_DebtInstrumentRedemptionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtInstrumentRedemptionDate_lbl" xml:lang="en-US" id="id_14036987_3470983_3_1">Debt instrument redemption date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtInstrumentRedemptionDate_lbl" xml:lang="en-US" id="id_14036987_3470983_1_1">Debt Instrument Redemption Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtInstrumentRedemptionDate_lbl" xml:lang="en-US" id="id_14036987_3470983_2_1">Earliest par redemption date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtInstrumentRedemptionDate" xlink:to="mfc_DebtInstrumentRedemptionDate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DebtInstrumentsAmountContributedToFairValueOfPlanAssets" xlink:label="ifrs-full_DebtInstrumentsAmountContributedToFairValueOfPlanAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DebtInstrumentsAmountContributedToFairValueOfPlanAssets_lbl" xml:lang="en-US" id="id_14036987_3417543_1_1">Debt instruments, amount contributed to fair value of plan assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DebtInstrumentsAmountContributedToFairValueOfPlanAssets_lbl" xml:lang="en-US" id="id_14036987_3417543_2_1">Debt securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DebtInstrumentsAmountContributedToFairValueOfPlanAssets" xlink:to="ifrs-full_DebtInstrumentsAmountContributedToFairValueOfPlanAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DebtInstrumentsHeld" xlink:label="ifrs-full_DebtInstrumentsHeld"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DebtInstrumentsHeld_lbl" xml:lang="en-US" id="id_14036987_3417741_1_1">Debt instruments held</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DebtInstrumentsHeld_lbl" xml:lang="en-US" id="id_14036987_3417741_2_1">Debt securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DebtInstrumentsHeld" xlink:to="ifrs-full_DebtInstrumentsHeld_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DebtSecurities" xlink:label="ifrs-full_DebtSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DebtSecurities_lbl" xml:lang="en-US" id="id_14036987_3417932_1_1">Debt instruments issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_DebtSecurities_lbl" xml:lang="en-US" id="id_14036987_3417932_32_1">Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DebtSecurities_lbl" xml:lang="en-US" id="id_14036987_3417932_2_1">Capital instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DebtSecurities_lbl" xml:lang="en-US" id="id_14036987_3417932_12_1">Capital instruments (note 11)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DebtSecurities" xlink:to="ifrs-full_DebtSecurities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtSecuritiesAndPrivatePlacements" xlink:label="mfc_DebtSecuritiesAndPrivatePlacements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtSecuritiesAndPrivatePlacements_lbl" xml:lang="en-US" id="id_14036987_3453134_3_1">Debt securities and private placements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtSecuritiesAndPrivatePlacements_lbl" xml:lang="en-US" id="id_14036987_3453134_1_1">Debt Securities and Private Placements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtSecuritiesAndPrivatePlacements_lbl" xml:lang="en-US" id="id_14036987_3453134_2_1">Carrying value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtSecuritiesAndPrivatePlacements" xlink:to="mfc_DebtSecuritiesAndPrivatePlacements_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtSecuritiesAndPrivatePlacementsInvestmentPercentage" xlink:label="mfc_DebtSecuritiesAndPrivatePlacementsInvestmentPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtSecuritiesAndPrivatePlacementsInvestmentPercentage_lbl" xml:lang="en-US" id="id_14036987_3526534_3_1">Debt securities and private placements investment percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtSecuritiesAndPrivatePlacementsInvestmentPercentage_lbl" xml:lang="en-US" id="id_14036987_3526534_1_1">Debt Securities And Private Placements Investment Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtSecuritiesAndPrivatePlacementsInvestmentPercentage_lbl" xml:lang="en-US" id="id_14036987_3526534_2_1">Debt securities and private placements rated as investment grade BBB or higher</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtSecuritiesAndPrivatePlacementsInvestmentPercentage" xlink:to="mfc_DebtSecuritiesAndPrivatePlacementsInvestmentPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtSecuritiesAndPrivatePlacementsPercentage" xlink:label="mfc_DebtSecuritiesAndPrivatePlacementsPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtSecuritiesAndPrivatePlacementsPercentage_lbl" xml:lang="en-US" id="id_14036987_3526530_3_1">Debt securities and private placements percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtSecuritiesAndPrivatePlacementsPercentage_lbl" xml:lang="en-US" id="id_14036987_3526530_1_1">Debt Securities And Private Placements Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtSecuritiesAndPrivatePlacementsPercentage_lbl" xml:lang="en-US" id="id_14036987_3526530_2_1">% of total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtSecuritiesAndPrivatePlacementsPercentage" xlink:to="mfc_DebtSecuritiesAndPrivatePlacementsPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtSecuritiesIssuanceDate" xlink:label="mfc_DebtSecuritiesIssuanceDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtSecuritiesIssuanceDate_lbl" xml:lang="en-US" id="id_14036987_3470993_3_1">Debt securities issuance date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtSecuritiesIssuanceDate_lbl" xml:lang="en-US" id="id_14036987_3470993_1_1">Debt securities issuance date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtSecuritiesIssuanceDate_lbl" xml:lang="en-US" id="id_14036987_3470993_2_1">Issuance date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtSecuritiesIssuanceDate" xlink:to="mfc_DebtSecuritiesIssuanceDate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DebtSecuritiesMaturityDate" xlink:label="mfc_DebtSecuritiesMaturityDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DebtSecuritiesMaturityDate_lbl" xml:lang="en-US" id="id_14036987_3470992_3_1">Debt securities maturity date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DebtSecuritiesMaturityDate_lbl" xml:lang="en-US" id="id_14036987_3470992_1_1">Debt securities maturity date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DebtSecuritiesMaturityDate_lbl" xml:lang="en-US" id="id_14036987_3470992_2_1">Maturity date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DebtSecuritiesMaturityDate" xlink:to="mfc_DebtSecuritiesMaturityDate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DebtSecuritiesMember" xlink:label="ifrs-full_DebtSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DebtSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3417742_1_1">Debt securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DebtSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3417742_2_1">Debt securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DebtSecuritiesMember" xlink:to="ifrs-full_DebtSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DecreaseInMortalityRate" xlink:label="mfc_DecreaseInMortalityRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DecreaseInMortalityRate_lbl" xml:lang="en-US" id="id_14036987_3526294_3_1">Decrease in mortality rate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DecreaseInMortalityRate_lbl" xml:lang="en-US" id="id_14036987_3526294_1_1">Decrease in mortality rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DecreaseInMortalityRate_lbl" xml:lang="en-US" id="id_14036987_3526294_2_1">Decrease in mortality rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DecreaseInMortalityRate" xlink:to="mfc_DecreaseInMortalityRate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DecreaseInProfitLossAttributableToShareholdersDueToPolicyRelatedAssumptions" xlink:label="mfc_DecreaseInProfitLossAttributableToShareholdersDueToPolicyRelatedAssumptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DecreaseInProfitLossAttributableToShareholdersDueToPolicyRelatedAssumptions_lbl" xml:lang="en-US" id="id_14036987_3453754_3_1">Decrease in profit loss attributable to shareholders due to policy related assumptions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DecreaseInProfitLossAttributableToShareholdersDueToPolicyRelatedAssumptions_lbl" xml:lang="en-US" id="id_14036987_3453754_1_1">Decrease In Profit Loss Attributable To Shareholders Due To Policy Related Assumptions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_DecreaseInProfitLossAttributableToShareholdersDueToPolicyRelatedAssumptions_lbl" xml:lang="en-US" id="id_14036987_3453754_14_1">Decrease in net income attributed to shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DecreaseInProfitLossAttributableToShareholdersDueToPolicyRelatedAssumptions" xlink:to="mfc_DecreaseInProfitLossAttributableToShareholdersDueToPolicyRelatedAssumptions_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DecreaseThroughClassifiedAsHeldForSaleGoodwill" xlink:label="ifrs-full_DecreaseThroughClassifiedAsHeldForSaleGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DecreaseThroughClassifiedAsHeldForSaleGoodwill_lbl" xml:lang="en-US" id="id_14036987_3417747_1_1">Decrease through classified as held for sale, goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DecreaseThroughClassifiedAsHeldForSaleGoodwill_lbl" xml:lang="en-US" id="id_14036987_3417747_2_1">Goodwill disposals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DecreaseThroughClassifiedAsHeldForSaleGoodwill" xlink:to="ifrs-full_DecreaseThroughClassifiedAsHeldForSaleGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DecreaseThroughWriteoffFinancialAssets" xlink:label="ifrs-full_DecreaseThroughWriteoffFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DecreaseThroughWriteoffFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3417754_1_1">Decrease through write-off, financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DecreaseThroughWriteoffFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3417754_2_1">Write-offs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DecreaseThroughWriteoffFinancialAssets" xlink:to="ifrs-full_DecreaseThroughWriteoffFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DeferPaymentOfAllOrPartOfRSUsOrPSUsMember" xlink:label="mfc_DeferPaymentOfAllOrPartOfRSUsOrPSUsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DeferPaymentOfAllOrPartOfRSUsOrPSUsMember_lbl" xml:lang="en-US" id="id_14036987_3480141_3_1">Defer payment of all or part of RSUs or PSUs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DeferPaymentOfAllOrPartOfRSUsOrPSUsMember_lbl" xml:lang="en-US" id="id_14036987_3480141_1_1">Defer Payment Of All Or Part Of RSUs OR PSUs [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DeferPaymentOfAllOrPartOfRSUsOrPSUsMember_lbl" xml:lang="en-US" id="id_14036987_3480141_2_1">Defer payment of all or part of RSUs or PSUs [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DeferPaymentOfAllOrPartOfRSUsOrPSUsMember" xlink:to="mfc_DeferPaymentOfAllOrPartOfRSUsOrPSUsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DeferReceiptOfAllOrPartOfAnnualBonusMember" xlink:label="mfc_DeferReceiptOfAllOrPartOfAnnualBonusMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DeferReceiptOfAllOrPartOfAnnualBonusMember_lbl" xml:lang="en-US" id="id_14036987_3480140_3_1">Defer receipt of all or part of annual bonus.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DeferReceiptOfAllOrPartOfAnnualBonusMember_lbl" xml:lang="en-US" id="id_14036987_3480140_1_1">Defer receipt of all or part of annual bonus [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DeferReceiptOfAllOrPartOfAnnualBonusMember_lbl" xml:lang="en-US" id="id_14036987_3480140_2_1">Defer receipt of all or part of annual bonus [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DeferReceiptOfAllOrPartOfAnnualBonusMember" xlink:to="mfc_DeferReceiptOfAllOrPartOfAnnualBonusMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DeferredShareUnitsPlansMember" xlink:label="mfc_DeferredShareUnitsPlansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DeferredShareUnitsPlansMember_lbl" xml:lang="en-US" id="id_14036987_3529733_3_1">Deferred share units plans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DeferredShareUnitsPlansMember_lbl" xml:lang="en-US" id="id_14036987_3529733_1_1">Deferred share units plans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DeferredShareUnitsPlansMember_lbl" xml:lang="en-US" id="id_14036987_3529733_2_1">Deferred Share Units [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DeferredShareUnitsPlansMember" xlink:to="mfc_DeferredShareUnitsPlansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DeferredShareUnitsPlansUnderEsopMember" xlink:label="mfc_DeferredShareUnitsPlansUnderEsopMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DeferredShareUnitsPlansUnderEsopMember_lbl" xml:lang="en-US" id="id_14036987_3495058_3_1">Deferred share units plans under ESOP [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DeferredShareUnitsPlansUnderEsopMember_lbl" xml:lang="en-US" id="id_14036987_3495058_1_1">Deferred share units plans under ESOP [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DeferredShareUnitsPlansUnderEsopMember_lbl" xml:lang="en-US" id="id_14036987_3495058_2_1">Deferred Share Units under ESOP [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DeferredShareUnitsPlansUnderEsopMember" xlink:to="mfc_DeferredShareUnitsPlansUnderEsopMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en-US" id="id_14036987_3417555_1_1">Deferred tax assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en-US" id="id_14036987_3417555_2_1">Deferred tax assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en-US" id="id_14036987_3417555_12_1">Deferred tax assets (note 5)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssets" xlink:to="ifrs-full_DeferredTaxAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract" xlink:label="ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3418156_1_1">Deferred tax assets and liabilities [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3418156_2_1">Deferred tax assets and liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxExpenseIncomeAbstract" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3417557_1_1">Deferred tax expense (income) [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3417557_2_1">Deferred tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeAbstract" xlink:to="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl" xml:lang="en-US" id="id_14036987_3418158_1_1">Deferred tax expense (income) recognised in profit or loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl" xml:lang="en-US" id="id_14036987_3418158_2_1">Recognized in Income Statement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_lbl" xml:lang="en-US" id="id_14036987_3417939_1_1">Deferred tax expense (income) relating to origination and reversal of temporary differences</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_lbl" xml:lang="en-US" id="id_14036987_3417939_2_1">Change related to temporary differences</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes_lbl" xml:lang="en-US" id="id_14036987_3418159_1_1">Deferred tax expense (income) relating to tax rate changes or imposition of new taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes_lbl" xml:lang="en-US" id="id_14036987_3418159_2_1">Impact of U.S. Tax Reform</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes_lbl" xml:lang="en-US" id="id_14036987_3418159_12_1">Impact of U.S. Tax Reform, deferred tax impact</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US" id="id_14036987_3417558_1_1">Deferred tax liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US" id="id_14036987_3417558_2_1">Deferred tax liabilities (note 5)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US" id="id_14036987_3417558_12_1">Deferred tax liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US" id="id_14036987_3417558_14_1">Deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417560_1_1">Deferred tax liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417560_16_1">Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417560_17_1">Beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3417560_19_1">Net deferred tax assets (liabilities)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" xlink:label="ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl" xml:lang="en-US" id="id_14036987_3418161_1_1">Deferred tax relating to items credited (charged) directly to equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl" xml:lang="en-US" id="id_14036987_3418161_2_1">Deferred income tax expense (recovery)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl" xml:lang="en-US" id="id_14036987_3418161_14_1">Recognized in Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" xlink:to="ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome" xlink:label="mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3446703_3_1">Deferred tax relating to items credited charged directly to other comprehensive income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3446703_1_1">Deferred tax relating to items credited charged directly to other comprehensive income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3446703_2_1">Recognized in Other Comprehensive Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3446703_14_1">Deferred income tax expense (recovery)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome" xlink:to="mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DefinedBenefitCostMember" xlink:label="mfc_DefinedBenefitCostMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DefinedBenefitCostMember_lbl" xml:lang="en-US" id="id_14036987_3480151_3_1">Defined benefit cost.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DefinedBenefitCostMember_lbl" xml:lang="en-US" id="id_14036987_3480151_1_1">Defined benefit cost [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DefinedBenefitCostMember_lbl" xml:lang="en-US" id="id_14036987_3480151_2_1">Defined benefit cost [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DefinedBenefitCostMember" xlink:to="mfc_DefinedBenefitCostMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xml:lang="en-US" id="id_14036987_3417562_1_1">Defined benefit obligation, at present value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xml:lang="en-US" id="id_14036987_3417562_2_1">Defined benefit obligation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xml:lang="en-US" id="id_14036987_3417562_12_1">Disaggregation of defined benefit obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DefinedBenefitObligationMember" xlink:label="mfc_DefinedBenefitObligationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DefinedBenefitObligationMember_lbl" xml:lang="en-US" id="id_14036987_3480150_3_1">Defined benefit obligation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DefinedBenefitObligationMember_lbl" xml:lang="en-US" id="id_14036987_3480150_1_1">Defined benefit obligation [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DefinedBenefitObligationMember_lbl" xml:lang="en-US" id="id_14036987_3480150_2_1">Defined benefit obligation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DefinedBenefitObligationMember" xlink:to="mfc_DefinedBenefitObligationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DefinedBenefitPlansAxis_lbl" xml:lang="en-US" id="id_14036987_3417563_1_1">Defined benefit plans [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DefinedBenefitPlansAxis_lbl" xml:lang="en-US" id="id_14036987_3417563_2_1">Defined benefit plans [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DefinedBenefitPlansMember_lbl" xml:lang="en-US" id="id_14036987_3417940_1_1">Defined benefit plans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DefinedBenefitPlansMember_lbl" xml:lang="en-US" id="id_14036987_3417940_2_1">Defined benefit plans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ifrs-full_DefinedBenefitPlansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DefinedBenefitPlansProvisionMember" xlink:label="mfc_DefinedBenefitPlansProvisionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DefinedBenefitPlansProvisionMember_lbl" xml:lang="en-US" id="id_14036987_3480385_3_1">Defined benefit plans provision.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DefinedBenefitPlansProvisionMember_lbl" xml:lang="en-US" id="id_14036987_3480385_1_1">Defined Benefit Plans Provision [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DefinedBenefitPlansProvisionMember_lbl" xml:lang="en-US" id="id_14036987_3480385_2_1">Defined Benefit Plans Provision [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DefinedBenefitPlansProvisionMember" xlink:to="mfc_DefinedBenefitPlansProvisionMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DefinedBenefitPlanTargetAssetAllocationPercentage" xlink:label="mfc_DefinedBenefitPlanTargetAssetAllocationPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DefinedBenefitPlanTargetAssetAllocationPercentage_lbl" xml:lang="en-US" id="id_14036987_3526255_3_1">Defined benefit plan target asset allocation percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DefinedBenefitPlanTargetAssetAllocationPercentage_lbl" xml:lang="en-US" id="id_14036987_3526255_1_1">Defined benefit plan target asset allocation percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DefinedBenefitPlanTargetAssetAllocationPercentage_lbl" xml:lang="en-US" id="id_14036987_3526255_2_1">Percentage of fair value measurements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_DefinedBenefitPlanTargetAssetAllocationPercentage_lbl" xml:lang="en-US" id="id_14036987_3526255_12_1">Target asset allocation for plan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DefinedBenefitPlanTargetAssetAllocationPercentage" xlink:to="mfc_DefinedBenefitPlanTargetAssetAllocationPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DefinedContributionPensionPlansMember" xlink:label="mfc_DefinedContributionPensionPlansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DefinedContributionPensionPlansMember_lbl" xml:lang="en-US" id="id_14036987_3480216_3_1">Defined contribution pension plans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DefinedContributionPensionPlansMember_lbl" xml:lang="en-US" id="id_14036987_3480216_1_1">Defined contribution pension plans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DefinedContributionPensionPlansMember_lbl" xml:lang="en-US" id="id_14036987_3480216_2_1">Defined contribution pension plans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DefinedContributionPensionPlansMember" xlink:to="mfc_DefinedContributionPensionPlansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DefinedContributionPlansMember" xlink:label="mfc_DefinedContributionPlansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DefinedContributionPlansMember_lbl" xml:lang="en-US" id="id_14036987_3477142_3_1">Defined contribution plans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DefinedContributionPlansMember_lbl" xml:lang="en-US" id="id_14036987_3477142_1_1">Defined Contribution Plans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DefinedContributionPlansMember_lbl" xml:lang="en-US" id="id_14036987_3477142_2_1">Defined contribution plans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DefinedContributionPlansMember" xlink:to="mfc_DefinedContributionPlansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepositsFromCustomers" xlink:label="ifrs-full_DepositsFromCustomers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepositsFromCustomers_lbl" xml:lang="en-US" id="id_14036987_3417763_1_1">Deposits from customers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepositsFromCustomers_lbl" xml:lang="en-US" id="id_14036987_3417763_2_1">Carrying value of deposits from Bank clients</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DepositsFromCustomers_lbl" xml:lang="en-US" id="id_14036987_3417763_12_1">Deposits from bank clients</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepositsFromCustomers" xlink:to="ifrs-full_DepositsFromCustomers_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DepositsFromCustomersAtFairValue" xlink:label="mfc_DepositsFromCustomersAtFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DepositsFromCustomersAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3444522_3_1">Deposits from customers at fair value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DepositsFromCustomersAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3444522_1_1">Deposits from Customers at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DepositsFromCustomersAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3444522_2_1">Fair value of deposits from Bank clients</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DepositsFromCustomersAtFairValue" xlink:to="mfc_DepositsFromCustomersAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DerivativeExposureWithCounterpartiesPercentage" xlink:label="mfc_DerivativeExposureWithCounterpartiesPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DerivativeExposureWithCounterpartiesPercentage_lbl" xml:lang="en-US" id="id_14036987_3526531_3_1">Derivative exposure with counterparties percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DerivativeExposureWithCounterpartiesPercentage_lbl" xml:lang="en-US" id="id_14036987_3526531_1_1">Derivative Exposure With Counterparties Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DerivativeExposureWithCounterpartiesPercentage_lbl" xml:lang="en-US" id="id_14036987_3526531_2_1">Derivative exposure with counterparties, percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DerivativeExposureWithCounterpartiesPercentage" xlink:to="mfc_DerivativeExposureWithCounterpartiesPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DerivativeFairValueAmount" xlink:label="mfc_DerivativeFairValueAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DerivativeFairValueAmount_lbl" xml:lang="en-US" id="id_14036987_3434115_3_1">Derivative fair value amount.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DerivativeFairValueAmount_lbl" xml:lang="en-US" id="id_14036987_3434115_1_1">Derivative fair value amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mfc_DerivativeFairValueAmount_lbl" xml:lang="en-US" id="id_14036987_3434115_4_1">Balance at the end of the year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mfc_DerivativeFairValueAmount_lbl" xml:lang="en-US" id="id_14036987_3434115_5_1">Balance at the beginning of the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DerivativeFairValueAmount" xlink:to="mfc_DerivativeFairValueAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DerivativeFinancialAssets" xlink:label="ifrs-full_DerivativeFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DerivativeFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3417770_1_1">Derivative financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_DerivativeFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3417770_32_1">Fair value, assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:label="ifrs-full_DerivativeFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3417770_33_1">Total derivative assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DerivativeFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3417770_2_1">Derivative assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DerivativeFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3417770_12_1">Derivatives (note 4)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativeFinancialAssets" xlink:to="ifrs-full_DerivativeFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DerivativeFinancialLiabilities" xlink:label="ifrs-full_DerivativeFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DerivativeFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3418170_1_1">Derivative financial liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_DerivativeFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3418170_32_1">Derivatives (note 4)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:label="ifrs-full_DerivativeFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3418170_33_1">Fair value, liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveVerboseLabel" xlink:label="ifrs-full_DerivativeFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3418170_34_1">Total derivative liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DerivativeFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3418170_2_1">Derivative liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DerivativeFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3418170_12_1">Derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativeFinancialLiabilities" xlink:to="ifrs-full_DerivativeFinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DerivativeInvestmentIncomeLoss" xlink:label="mfc_DerivativeInvestmentIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DerivativeInvestmentIncomeLoss_lbl" xml:lang="en-US" id="id_14036987_3446658_3_1">Derivative investment income loss.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DerivativeInvestmentIncomeLoss_lbl" xml:lang="en-US" id="id_14036987_3446658_1_1">Derivative investment income loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DerivativeInvestmentIncomeLoss_lbl" xml:lang="en-US" id="id_14036987_3446658_2_1">Derivative investment income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DerivativeInvestmentIncomeLoss" xlink:to="mfc_DerivativeInvestmentIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DerivativesAssetsMember" xlink:label="mfc_DerivativesAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DerivativesAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3476228_3_1">Derivatives assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DerivativesAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3476228_1_1">Derivatives Assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DerivativesAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3476228_2_1">Derivative Assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DerivativesAssetsMember" xlink:to="mfc_DerivativesAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DerivativesIncludingMacroEquityHedgingProgramMember" xlink:label="mfc_DerivativesIncludingMacroEquityHedgingProgramMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DerivativesIncludingMacroEquityHedgingProgramMember_lbl" xml:lang="en-US" id="id_14036987_3479962_3_1">Derivatives, including macro equity hedging program.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DerivativesIncludingMacroEquityHedgingProgramMember_lbl" xml:lang="en-US" id="id_14036987_3479962_1_1">Derivatives, including macro equity hedging program [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DerivativesIncludingMacroEquityHedgingProgramMember_lbl" xml:lang="en-US" id="id_14036987_3479962_2_1">Derivatives, including macro equity hedging program [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DerivativesIncludingMacroEquityHedgingProgramMember" xlink:to="mfc_DerivativesIncludingMacroEquityHedgingProgramMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DerivativesLiabilitiesMember" xlink:label="mfc_DerivativesLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DerivativesLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3476229_3_1">Derivatives liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DerivativesLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3476229_1_1">Derivatives Liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DerivativesLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3476229_2_1">Derivative Liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DerivativesLiabilitiesMember" xlink:to="mfc_DerivativesLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DerivativesMember" xlink:label="ifrs-full_DerivativesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DerivativesMember_lbl" xml:lang="en-US" id="id_14036987_3417773_1_1">Derivatives [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DerivativesMember_lbl" xml:lang="en-US" id="id_14036987_3417773_2_1">Derivatives [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativesMember" xlink:to="ifrs-full_DerivativesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517354_3_1">Description of accounting policy for asset liability management strategy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517354_1_1">Description of accounting policy for Asset Liability Management Strategy [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517354_2_1">Asset Liability Management Strategy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory" xlink:to="mfc_DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory_lbl" xml:lang="en-US" id="id_14036987_3521310_3_1">The description of the entity's accounting policy for basis of consolidation.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417580_2_1">Fair value measurement</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417583_1_1">Description of accounting policy for financial instruments [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417583_2_1">Other financial instruments accounted for as liabilities</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417953_2_1">Foreign currency translation</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForForeignExchangeRiskManagementStrategyExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForForeignExchangeRiskManagementStrategyExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForForeignExchangeRiskManagementStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517355_3_1">Description of accounting policy for foreign exchange risk management strategy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfAccountingPolicyForForeignExchangeRiskManagementStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517355_1_1">Description Of Accounting Policy For Foreign Exchange Risk Management Strategy [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForForeignExchangeRiskManagementStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517355_2_1">Foreign Exchange Risk Management Strategy</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForFutureAccountingAndReportingChangesExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForFutureAccountingAndReportingChangesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForFutureAccountingAndReportingChangesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516352_3_1">Description of accounting policy for future accounting and reporting changes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfAccountingPolicyForFutureAccountingAndReportingChangesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516352_1_1">Description of accounting policy for future accounting and reporting changes [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForFutureAccountingAndReportingChangesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516352_2_1">Future accounting and reporting changes</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForHedgingExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForHedgingExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForHedgingExplanatory_lbl" xml:lang="en-US" id="id_14036987_3418186_1_1">Description of accounting policy for hedging [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForHedgingExplanatory_lbl" xml:lang="en-US" id="id_14036987_3418186_2_1">Hedging Strategies for Variable Annuity and Other Equity Risks</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417790_1_1">Description of accounting policy for income tax [text block]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3417961_1_1">Description of accounting policy for insurance contracts and related assets, liabilities, income and expense [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3417961_2_1">Insurance and investment contract liabilities</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417962_1_1">Description of accounting policy for intangible assets and goodwill [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417962_2_1">Goodwill and intangible assets</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForInterestRateAndSpreadRiskSensitivitiesAndExposureMeasuresExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForInterestRateAndSpreadRiskSensitivitiesAndExposureMeasuresExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForInterestRateAndSpreadRiskSensitivitiesAndExposureMeasuresExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516404_3_1">Description of accounting policy for interest rate and spread risk sensitivities and exposure measures.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForInterestRateAndSpreadRiskSensitivitiesAndExposureMeasuresExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516404_2_1">Interest Rate and Spread Risk Sensitivities and Exposure Measures</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForInvestedAssetsExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForInvestedAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForInvestedAssetsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516365_3_1">Description of accounting policy for invested assets explanatory.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfAccountingPolicyForInvestedAssetsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516365_1_1">Description of accounting policy for invested assets explanatory</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForInvestedAssetsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516365_2_1">Invested assets</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516407_3_1">Description of accounting policy for investment categories for variable contracts with guarantees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfAccountingPolicyForInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516407_1_1">Description Of Accounting Policy For Investment Categories For Variable Contracts With Guarantees [text block]</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForLiquidityRiskManagementStrategyExplanatoryPolicyTextBlock" xlink:label="mfc_DescriptionOfAccountingPolicyForLiquidityRiskManagementStrategyExplanatoryPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForLiquidityRiskManagementStrategyExplanatoryPolicyTextBlock_lbl" xml:lang="en-US" id="id_14036987_3515257_3_1">Description of accounting policy for liquidity risk management strategy explanatory.</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForMacroEquityRiskHedgingStrategyExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForMacroEquityRiskHedgingStrategyExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForMacroEquityRiskHedgingStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516406_3_1">Description of accounting policy for macro equity risk hedging strategy.</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForMarketRiskSensitivitiesAndMarketRiskExposureMeasuresExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForMarketRiskSensitivitiesAndMarketRiskExposureMeasuresExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForMarketRiskSensitivitiesAndMarketRiskExposureMeasuresExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517356_3_1">Description of accounting policy for market risk sensitivities and market risk exposure measures</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForMiscellaneousAssetsExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForMiscellaneousAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForMiscellaneousAssetsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516366_3_1">Description of accounting policy for miscellaneous assets explanatory.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForMiscellaneousAssetsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516366_2_1">Miscellaneous assets</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516255_3_1">Description of accounting policy for premium income and related expenses.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516255_1_1">Description of accounting policy for premium income and related expenses explanatory</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516255_2_1">Premium income and related expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory" xlink:to="mfc_DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517405_3_1">Description of accounting policy for product design and pricing strategy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517405_1_1">Description Of Accounting Policy For Product Design And Pricing Strategy [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517405_2_1">Product Design and Pricing Strategy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory" xlink:to="mfc_DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl" xml:lang="en-US" id="id_14036987_3417965_1_1">Description of accounting policy for recognition of revenue [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl" xml:lang="en-US" id="id_14036987_3417965_2_1">Revenue from service contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417797_1_1">Description of accounting policy for reinsurance [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417797_2_1">Reinsurance assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForReportingEntityExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForReportingEntityExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForReportingEntityExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516362_3_1">Description of accounting policy for reporting entity explanatory.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfAccountingPolicyForReportingEntityExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516362_1_1">Description of accounting policy for reporting entity explanatory</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForReportingEntityExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516362_2_1">Reporting entity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DescriptionOfAccountingPolicyForReportingEntityExplanatory" xlink:to="mfc_DescriptionOfAccountingPolicyForReportingEntityExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForSegregatedFundsExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForSegregatedFundsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForSegregatedFundsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516367_3_1">Description of accounting policy for segregated funds explanatory.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfAccountingPolicyForSegregatedFundsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516367_1_1">Description of accounting policy for segregated funds explanatory</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForSegregatedFundsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516367_2_1">Segregated funds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DescriptionOfAccountingPolicyForSegregatedFundsExplanatory" xlink:to="mfc_DescriptionOfAccountingPolicyForSegregatedFundsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417594_1_1">Description of accounting policy for share-based payment transactions [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl" xml:lang="en-US" id="id_14036987_3417594_2_1">Stock-based compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfAccountingPolicyForVariableAnnuityDynamicHedgingStrategyExplanatory" xlink:label="mfc_DescriptionOfAccountingPolicyForVariableAnnuityDynamicHedgingStrategyExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfAccountingPolicyForVariableAnnuityDynamicHedgingStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516405_3_1">Description of accounting policy for variable annuity dynamic hedging strategy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfAccountingPolicyForVariableAnnuityDynamicHedgingStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516405_1_1">Description Of Accounting Policy For Variable Annuity Dynamic Hedging Strategy [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfAccountingPolicyForVariableAnnuityDynamicHedgingStrategyExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516405_2_1">Variable Annuity Dynamic Hedging Strategy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DescriptionOfAccountingPolicyForVariableAnnuityDynamicHedgingStrategyExplanatory" xlink:to="mfc_DescriptionOfAccountingPolicyForVariableAnnuityDynamicHedgingStrategyExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:label="ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections_lbl" xml:lang="en-US" id="id_14036987_3417615_1_1">Discount rate applied to cash flow projections</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections_lbl" xml:lang="en-US" id="id_14036987_3417615_2_1">After-tax discount rate applied to cash flow projections</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:to="ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl" xml:lang="en-US" id="id_14036987_3418231_1_1">Expected volatility, share options granted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl" xml:lang="en-US" id="id_14036987_3418231_2_1">Expected volatility</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" xlink:label="ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections_lbl" xml:lang="en-US" id="id_14036987_3418239_1_1">Growth rate used to extrapolate cash flow projections</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections_lbl" xml:lang="en-US" id="id_14036987_3418239_2_1">Growth rate used to extrapolate cash flow projections</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" xlink:to="ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl" xml:lang="en-US" id="id_14036987_3418349_1_1">Risk free interest rate, share options granted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl" xml:lang="en-US" id="id_14036987_3418349_2_1">Risk-free interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DescriptionOfSubsidiary" xlink:label="mfc_DescriptionOfSubsidiary"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DescriptionOfSubsidiary_lbl" xml:lang="en-US" id="id_14036987_3470666_3_1">Description of subsidiary.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DescriptionOfSubsidiary_lbl" xml:lang="en-US" id="id_14036987_3470666_1_1">Description of Subsidiary</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DescriptionOfSubsidiary_lbl" xml:lang="en-US" id="id_14036987_3470666_2_1">Description</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DesignatedMember" xlink:label="mfc_DesignatedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DesignatedMember_lbl" xml:lang="en-US" id="id_14036987_3479012_3_1">Designated.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DesignatedMember_lbl" xml:lang="en-US" id="id_14036987_3479012_1_1">Designated [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DesignatedMember_lbl" xml:lang="en-US" id="id_14036987_3479012_2_1">Designated [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DesignatedMember" xlink:to="mfc_DesignatedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DeteriorationInClaimTerminationRates" xlink:label="mfc_DeteriorationInClaimTerminationRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DeteriorationInClaimTerminationRates_lbl" xml:lang="en-US" id="id_14036987_3542038_3_1">Deterioration in claim termination rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DeteriorationInClaimTerminationRates_lbl" xml:lang="en-US" id="id_14036987_3542038_1_1">Deterioration in claim termination rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DeteriorationInClaimTerminationRates_lbl" xml:lang="en-US" id="id_14036987_3542038_2_1">Deterioration in claim termination rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DeteriorationInClaimTerminationRates" xlink:to="mfc_DeteriorationInClaimTerminationRates_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DeteriorationInIncidenceRate" xlink:label="mfc_DeteriorationInIncidenceRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DeteriorationInIncidenceRate_lbl" xml:lang="en-US" id="id_14036987_3542039_3_1">Deterioration in incidence rate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DeteriorationInIncidenceRate_lbl" xml:lang="en-US" id="id_14036987_3542039_1_1">Deterioration in incidence rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DeteriorationInIncidenceRate_lbl" xml:lang="en-US" id="id_14036987_3542039_2_1">Deterioration in incidence rate</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DisclosureOfComponentsOfNetBenefitCostForPensionPlansAndRetireeWelfarePlansExplanatory" xlink:label="mfc_DisclosureOfComponentsOfNetBenefitCostForPensionPlansAndRetireeWelfarePlansExplanatory"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DisclosureOfCompositionOfNetAssetsByCategoriesOfSegregatedFundsAbstract_lbl" xml:lang="en-US" id="id_14036987_3431573_3_1">Disclosure of composition of net assets by categories of segregated funds abstract.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DisclosureOfCompositionOfNetAssetsByCategoriesOfSegregatedFundsLineItems_lbl" xml:lang="en-US" id="id_14036987_3431574_3_1">Disclosure of composition of net assets by categories of segregated funds line items.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DisclosureOfCompositionOfNetAssetsByCategoriesOfSegregatedFundsLineItems_lbl" xml:lang="en-US" id="id_14036987_3431574_2_1">Disclosure of composition of net assets by categories of segregated funds [line items]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable"/>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DisclosureOfReconciliationOfNumberOfSharesOutstandingExplanatory" xlink:label="mfc_DisclosureOfReconciliationOfNumberOfSharesOutstandingExplanatory"/>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DisclosureOfRemeasurementEffectsRecognizedInOtherComprehensiveIncomeTextBlockExplanatory" xlink:label="mfc_DisclosureOfRemeasurementEffectsRecognizedInOtherComprehensiveIncomeTextBlockExplanatory"/>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DisclosureOfResidentialMortgagesAndLoanToBankClientsExplanatory" xlink:label="mfc_DisclosureOfResidentialMortgagesAndLoanToBankClientsExplanatory"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DisclosureOfRiskManagementExplanatory_lbl" xml:lang="en-US" id="id_14036987_3517456_2_1">Market Risk Management Strategy</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DisclosureOfRiskManagementLineItems_lbl" xml:lang="en-US" id="id_14036987_3431426_3_1">Line items represent concepts included in a table. These are used to disclose reportable information associated with domain members defined in one or many axes of the table.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DisclosureOfRiskManagementLineItems_lbl" xml:lang="en-US" id="id_14036987_3431426_2_1">Disclosure of Risk Management [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DisclosureOfRiskManagementLineItems" xlink:to="mfc_DisclosureOfRiskManagementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DisclosureOfRiskManagementStrategyLineItems" xlink:label="mfc_DisclosureOfRiskManagementStrategyLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DisclosureOfRiskManagementStrategyLineItems_lbl" xml:lang="en-US" id="id_14036987_3430812_3_1">Disclosure of risk management strategy [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DisclosureOfRiskManagementStrategyLineItems_lbl" xml:lang="en-US" id="id_14036987_3430812_1_1">Disclosure of risk management strategy [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DisclosureOfRiskManagementStrategyLineItems_lbl" xml:lang="en-US" id="id_14036987_3430812_2_1">Disclosure of risk management strategy [line items]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingAbstract" xlink:label="ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingAbstract_lbl" xml:lang="en-US" id="id_14036987_3419858_1_1">Disclosure of risk management strategy related to hedge accounting [abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DisclosureOfRiskManagementStrategyTable_lbl" xml:lang="en-US" id="id_14036987_3474287_1_1">Disclosure of risk management strategy [table]</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DisclosureOfRollForwardsForNetDerivativeContractsMeasuredAtFairValueUsingSignificantUnobservableInputsAbstract" xlink:label="mfc_DisclosureOfRollForwardsForNetDerivativeContractsMeasuredAtFairValueUsingSignificantUnobservableInputsAbstract"/>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems" xlink:label="mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesTable_lbl" xml:lang="en-US" id="id_14036987_3474329_3_1">Disclosure of securitized assets, mortgages and associated liabilities [table]</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DisclosureOfSegregatedFundsExplanatory" xlink:label="mfc_DisclosureOfSegregatedFundsExplanatory"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesAbstract" xlink:label="ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesAbstract"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesExplanatory" xlink:label="ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesExplanatory"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesLineItems" xlink:label="ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesLineItems_lbl" xml:lang="en-US" id="id_14036987_3419648_1_1">Disclosure of unconsolidated structured entities [line items]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesLineItems" xlink:to="ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesTable" xlink:label="ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesTable_lbl" xml:lang="en-US" id="id_14036987_3419481_1_1">Disclosure of unconsolidated structured entities [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfUnconsolidatedStructuredEntitiesTable_lbl" xml:lang="en-US" id="id_14036987_3419481_2_1">Disclosure of unconsolidated structured entities [table]</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DisclosureOfVariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceExplanatory" xlink:label="mfc_DisclosureOfVariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DisclosureOfVariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceExplanatory_lbl" xml:lang="en-US" id="id_14036987_3516442_3_1">Disclosure of variable annuity and segregated fund guarantees, net of reinsurance.</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DiscountRateAppliedToCashFlowProjectionsPreTaxBasis" xlink:label="mfc_DiscountRateAppliedToCashFlowProjectionsPreTaxBasis"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill"/>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DistributionFeesAndOtherMember" xlink:label="mfc_DistributionFeesAndOtherMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DistributionFeesAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3536735_3_1">Distribution fees and other.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DistributionFeesAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3536735_1_1">Distribution fees and other [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DistributionFeesAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3536735_2_1">Distribution fees and other [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DistributionFeesAndOtherMember" xlink:to="mfc_DistributionFeesAndOtherMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DistributionNetworksMember" xlink:label="mfc_DistributionNetworksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DistributionNetworksMember_lbl" xml:lang="en-US" id="id_14036987_3479878_3_1">Distribution networks.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DistributionNetworksMember_lbl" xml:lang="en-US" id="id_14036987_3479878_1_1">Distribution networks [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DistributionNetworksMember_lbl" xml:lang="en-US" id="id_14036987_3479878_2_1">Distribution networks [Member]</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DiversifiedAndMiscellaneousMember" xlink:label="mfc_DiversifiedAndMiscellaneousMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DiversifiedAndMiscellaneousMember_lbl" xml:lang="en-US" id="id_14036987_3479683_3_1">Diversified and miscellaneous.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DiversifiedAndMiscellaneousMember_lbl" xml:lang="en-US" id="id_14036987_3479683_1_1">Diversified and miscellaneous [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DiversifiedAndMiscellaneousMember_lbl" xml:lang="en-US" id="id_14036987_3479683_2_1">Diversified and miscellaneous [Member]</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DividendReinvestmentPlanMember" xlink:label="mfc_DividendReinvestmentPlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DividendReinvestmentPlanMember_lbl" xml:lang="en-US" id="id_14036987_3529102_3_1">Dividend reinvestment plan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DividendReinvestmentPlanMember_lbl" xml:lang="en-US" id="id_14036987_3529102_1_1">Dividend Reinvestment Plan [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DividendReinvestmentPlanMember_lbl" xml:lang="en-US" id="id_14036987_3529102_2_1">Dividend Reinvestment Plan [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DividendReinvestmentPlanMember" xlink:to="mfc_DividendReinvestmentPlanMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DividendRentalAndOtherIncomeMember" xlink:label="mfc_DividendRentalAndOtherIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DividendRentalAndOtherIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3479614_3_1">Dividend, rental and other income [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_DividendRentalAndOtherIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3479614_1_1">Dividend, rental and other income [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_DividendRentalAndOtherIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3479614_2_1">Dividend, rental and other income [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_DividendRentalAndOtherIncomeMember" xlink:to="mfc_DividendRentalAndOtherIncomeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsPaidClassifiedAsFinancingActivities_lbl" xml:lang="en-US" id="id_14036987_3419889_1_1">Dividends paid, classified as financing activities</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidOrdinaryShares" xlink:label="ifrs-full_DividendsPaidOrdinaryShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsPaidOrdinaryShares_lbl" xml:lang="en-US" id="id_14036987_3419660_1_1">Dividends paid, ordinary shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DividendsPaidOrdinaryShares_lbl" xml:lang="en-US" id="id_14036987_3419660_14_1">Common share dividends</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare"/>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DocumentandEntityInformationAbstract" xlink:label="mfc_DocumentandEntityInformationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DocumentandEntityInformationAbstract_lbl" xml:lang="en-US" id="id_14036987_3543062_3_1">Document - Document and Entity Information [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US" id="id_14036987_3419905_1_1">Document Fiscal Year Focus</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentInformationTable_lbl" xml:lang="en-US" id="id_14036987_3419501_2_1">Document Information [Table]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US" id="id_14036987_3419909_1_1">Document Type</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_DynamicallyHedgedVariableAnnuityGuaranteeEstimateLiabilitiesPercentage" xlink:label="mfc_DynamicallyHedgedVariableAnnuityGuaranteeEstimateLiabilitiesPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_DynamicallyHedgedVariableAnnuityGuaranteeEstimateLiabilitiesPercentage_lbl" xml:lang="en-US" id="id_14036987_3531763_3_1">Dynamically hedged variable annuity guarantee estimate liabilities percentage.</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="ifrs-full_EarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl" xml:lang="en-US" id="id_14036987_3419251_1_1">Earnings per share [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl" xml:lang="en-US" id="id_14036987_3419251_2_1">Earnings per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareAbstract" xlink:to="ifrs-full_EarningsPerShareAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareExplanatory" xlink:label="ifrs-full_EarningsPerShareExplanatory"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareLineItems" xlink:label="ifrs-full_EarningsPerShareLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EarningsPerShareLineItems_lbl" xml:lang="en-US" id="id_14036987_3419252_1_1">Earnings per share [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EarningsPerShareLineItems_lbl" xml:lang="en-US" id="id_14036987_3419252_2_1">Earnings per share [Line Items]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareTable" xlink:label="ifrs-full_EarningsPerShareTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EarningsPerShareTable_lbl" xml:lang="en-US" id="id_14036987_3419253_1_1">Earnings per share [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EarningsPerShareTable_lbl" xml:lang="en-US" id="id_14036987_3419253_2_1">Earnings per share [table]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_EisServicesBermudaLimitedMember" xlink:label="mfc_EisServicesBermudaLimitedMember"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="ifrs-full_EmployeeBenefitsExpense"/>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_EnergyMember" xlink:label="mfc_EnergyMember"/>
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    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US" id="id_14036987_3419277_1_1">Entity Current Reporting Status</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US" id="id_14036987_3419279_1_1">Entity Emerging Growth Company</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US" id="id_14036987_3419279_2_1">Entity Emerging Growth Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US" id="id_14036987_3419722_1_1">Entity Registrant Name</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US" id="id_14036987_3419722_2_1">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember_lbl" xml:lang="en-US" id="id_14036987_3419292_1_1">Entity's total for business combinations [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember_lbl" xml:lang="en-US" id="id_14036987_3419292_2_1">Entity's total for business combinations [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForExternalCreditGradesMember" xlink:label="ifrs-full_EntitysTotalForExternalCreditGradesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForExternalCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3419293_1_1">Entity's total for external credit grades [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForExternalCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3419293_2_1">Entity's total for external credit grades [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForExternalCreditGradesMember" xlink:to="ifrs-full_EntitysTotalForExternalCreditGradesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember" xlink:label="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3419294_1_1">Entity's total for impairment of financial assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3419294_2_1">Entity's total for impairment of financial assets [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember" xlink:to="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3419728_1_1">Entity's total for individual assets or cash-generating units [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3419728_2_1">Entity's total for individual assets or cash-generating units [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember" xlink:to="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForInternalCreditGradesMember" xlink:label="ifrs-full_EntitysTotalForInternalCreditGradesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForInternalCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3419951_1_1">Entity's total for internal credit grades [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForInternalCreditGradesMember_lbl" xml:lang="en-US" id="id_14036987_3419951_2_1">Entity's total for internal credit grades [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForInternalCreditGradesMember" xlink:to="ifrs-full_EntitysTotalForInternalCreditGradesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" xml:lang="en-US" id="id_14036987_3419733_1_1">Entity's total for related parties [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" xml:lang="en-US" id="id_14036987_3419733_2_1">Entity's total for related parties [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember_lbl" xml:lang="en-US" id="id_14036987_3419952_1_1">Entity's total for segment consolidation items [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember_lbl" xml:lang="en-US" id="id_14036987_3419952_2_1">Entity's total for segment consolidation items [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember_lbl" xml:lang="en-US" id="id_14036987_3419734_1_1">Entity's total for subsidiaries [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember_lbl" xml:lang="en-US" id="id_14036987_3419734_2_1">Entity's total for subsidiaries [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember" xlink:label="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3419296_1_1">Entity's total for unconsolidated structured entities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3419296_2_1">Entity's total for unconsolidated structured entities [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember" xlink:to="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US" id="id_14036987_3419957_1_1">Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US" id="id_14036987_3419957_4_1">Balance, end of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US" id="id_14036987_3419957_5_1">Balance, beginning of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US" id="id_14036987_3419957_2_1">Total equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US" id="id_14036987_3419957_6_1">Total equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAbstract" xlink:label="ifrs-full_EquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en-US" id="id_14036987_3419541_1_1">Equity [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en-US" id="id_14036987_3419541_2_1">Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en-US" id="id_14036987_3419542_1_1">Equity and liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en-US" id="id_14036987_3419542_6_1">Total liabilities and equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilitiesAbstract" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3419958_1_1">Equity and liabilities [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3419958_2_1">Liabilities and Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="ifrs-full_EquityAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xml:lang="en-US" id="id_14036987_3419543_1_1">Equity attributable to owners of parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xml:lang="en-US" id="id_14036987_3419543_2_1">Shareholders' equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xml:lang="en-US" id="id_14036987_3419543_6_1">Total shareholders' equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xml:lang="en-US" id="id_14036987_3419543_12_1">Total shareholders' equity, end of year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_EquityContractsMember" xlink:label="mfc_EquityContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_EquityContractsMember_lbl" xml:lang="en-US" id="id_14036987_3477317_3_1">Equity contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_EquityContractsMember_lbl" xml:lang="en-US" id="id_14036987_3477317_1_1">Equity Contracts [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_EquityContractsMember_lbl" xml:lang="en-US" id="id_14036987_3477317_2_1">Equity contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_EquityContractsMember" xlink:to="mfc_EquityContractsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_EquityExcludingAccumulatedOtherComprehensiveIncomeOnCashFlowHedges" xlink:label="mfc_EquityExcludingAccumulatedOtherComprehensiveIncomeOnCashFlowHedges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_EquityExcludingAccumulatedOtherComprehensiveIncomeOnCashFlowHedges_lbl" xml:lang="en-US" id="id_14036987_3446867_3_1">Equity excluding accumulated other comprehensive income on cash flow hedges.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_EquityExcludingAccumulatedOtherComprehensiveIncomeOnCashFlowHedges_lbl" xml:lang="en-US" id="id_14036987_3446867_1_1">Equity excluding accumulated other comprehensive income on cash flow hedges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_EquityExcludingAccumulatedOtherComprehensiveIncomeOnCashFlowHedges_lbl" xml:lang="en-US" id="id_14036987_3446867_6_1">Total equity excluding AOCI on cash flow hedges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_EquityExcludingAccumulatedOtherComprehensiveIncomeOnCashFlowHedges" xlink:to="mfc_EquityExcludingAccumulatedOtherComprehensiveIncomeOnCashFlowHedges_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_EquityFunds1Member" xlink:label="mfc_EquityFunds1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_EquityFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3478966_3_1">Equity funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_EquityFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3478966_1_1">Equity Funds 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_EquityFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3478966_2_1">Equity funds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_EquityFunds1Member" xlink:to="mfc_EquityFunds1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_EquityFuturesMember" xlink:label="mfc_EquityFuturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_EquityFuturesMember_lbl" xml:lang="en-US" id="id_14036987_3479003_3_1">Equity futures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_EquityFuturesMember_lbl" xml:lang="en-US" id="id_14036987_3479003_1_1">Equity futures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_EquityFuturesMember_lbl" xml:lang="en-US" id="id_14036987_3479003_2_1">Equity futures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_EquityFuturesMember" xlink:to="mfc_EquityFuturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_EquityInNetIncomeLossOfUnconsolidatedSubsidiaries" xlink:label="mfc_EquityInNetIncomeLossOfUnconsolidatedSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_EquityInNetIncomeLossOfUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3433425_3_1">Equity in net income loss of unconsolidated subsidiaries.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_EquityInNetIncomeLossOfUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3433425_1_1">Equity In Net Income Loss Of Unconsolidated Subsidiaries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_EquityInNetIncomeLossOfUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3433425_2_1">Equity in net income (loss) of unconsolidated subsidiaries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_EquityInNetIncomeLossOfUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3433425_14_1">Equity in net income of unconsolidated subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_EquityInNetIncomeLossOfUnconsolidatedSubsidiaries" xlink:to="mfc_EquityInNetIncomeLossOfUnconsolidatedSubsidiaries_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_EquityInSegregatedFundsMember" xlink:label="mfc_EquityInSegregatedFundsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_EquityInSegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3489245_3_1">Equity in segregated funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_EquityInSegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3489245_1_1">Equity in Segregated Funds [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_EquityInSegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3489245_2_1">Equity [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_EquityInSegregatedFundsMember" xlink:to="mfc_EquityInSegregatedFundsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityInstrumentsAmountContributedToFairValueOfPlanAssets" xlink:label="ifrs-full_EquityInstrumentsAmountContributedToFairValueOfPlanAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityInstrumentsAmountContributedToFairValueOfPlanAssets_lbl" xml:lang="en-US" id="id_14036987_3419545_1_1">Equity instruments, amount contributed to fair value of plan assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityInstrumentsAmountContributedToFairValueOfPlanAssets_lbl" xml:lang="en-US" id="id_14036987_3419545_2_1">Equity securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityInstrumentsAmountContributedToFairValueOfPlanAssets" xlink:to="ifrs-full_EquityInstrumentsAmountContributedToFairValueOfPlanAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityInstrumentsHeld" xlink:label="ifrs-full_EquityInstrumentsHeld"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityInstrumentsHeld_lbl" xml:lang="en-US" id="id_14036987_3419959_1_1">Equity instruments held</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityInstrumentsHeld_lbl" xml:lang="en-US" id="id_14036987_3419959_2_1">Public equities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityInstrumentsHeld" xlink:to="ifrs-full_EquityInstrumentsHeld_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityMember" xlink:label="ifrs-full_EquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityMember_lbl" xml:lang="en-US" id="id_14036987_3419740_1_1">Equity [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityMember_lbl" xml:lang="en-US" id="id_14036987_3419740_2_1">Equity [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_EquityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_EquitySecurities1Member" xlink:label="mfc_EquitySecurities1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_EquitySecurities1Member_lbl" xml:lang="en-US" id="id_14036987_3476597_3_1">This member stands for instruments held by the entity that represent ownership.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_EquitySecurities1Member_lbl" xml:lang="en-US" id="id_14036987_3476597_1_1">Equity Securities 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_EquitySecurities1Member_lbl" xml:lang="en-US" id="id_14036987_3476597_2_1">Equity securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_EquitySecurities1Member" xlink:to="mfc_EquitySecurities1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan" xlink:label="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan_lbl" xml:lang="en-US" id="id_14036987_3419745_1_1">Estimate of contributions expected to be paid to plan for next annual reporting period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan_lbl" xml:lang="en-US" id="id_14036987_3419745_2_1">Estimate of expected cash payments for employee future benefits for the year ending December 31, 2018</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan" xlink:to="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExchangeDifferencesOnTranslationAbstract" xlink:label="ifrs-full_ExchangeDifferencesOnTranslationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExchangeDifferencesOnTranslationAbstract_lbl" xml:lang="en-US" id="id_14036987_3419965_1_1">Exchange differences on translation [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExchangeDifferencesOnTranslationAbstract_lbl" xml:lang="en-US" id="id_14036987_3419965_2_1">Foreign exchange gains (losses) on:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExchangeDifferencesOnTranslationAbstract" xlink:to="ifrs-full_ExchangeDifferencesOnTranslationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ExecutiveStockOptionPlanMember" xlink:label="mfc_ExecutiveStockOptionPlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ExecutiveStockOptionPlanMember_lbl" xml:lang="en-US" id="id_14036987_3480119_3_1">Executive stock option plan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ExecutiveStockOptionPlanMember_lbl" xml:lang="en-US" id="id_14036987_3480119_1_1">Executive Stock Option Plan [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ExecutiveStockOptionPlanMember_lbl" xml:lang="en-US" id="id_14036987_3480119_2_1">Executive Stock Option Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ExecutiveStockOptionPlanMember" xlink:to="mfc_ExecutiveStockOptionPlanMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ExercisePricesRangeOneMember" xlink:label="mfc_ExercisePricesRangeOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ExercisePricesRangeOneMember_lbl" xml:lang="en-US" id="id_14036987_3489236_3_1">Exercise prices range one.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ExercisePricesRangeOneMember_lbl" xml:lang="en-US" id="id_14036987_3489236_1_1">Exercise Prices Range One [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ExercisePricesRangeOneMember_lbl" xml:lang="en-US" id="id_14036987_3489236_2_1">$12.64 - $20.99 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ExercisePricesRangeOneMember" xlink:to="mfc_ExercisePricesRangeOneMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ExercisePricesRangeTwoMember" xlink:label="mfc_ExercisePricesRangeTwoMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ExercisePricesRangeTwoMember_lbl" xml:lang="en-US" id="id_14036987_3489237_3_1">Exercise prices range two.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ExercisePricesRangeTwoMember_lbl" xml:lang="en-US" id="id_14036987_3489237_1_1">Exercise Prices Range Two [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ExercisePricesRangeTwoMember_lbl" xml:lang="en-US" id="id_14036987_3489237_2_1">$21.00 - $24.93 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ExercisePricesRangeTwoMember" xlink:to="mfc_ExercisePricesRangeTwoMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en-US" id="id_14036987_3419755_1_1">Expected dividend as percentage, share options granted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en-US" id="id_14036987_3419755_2_1">Dividend yield</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:to="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ExpectedLifeOfShareAwards" xlink:label="mfc_ExpectedLifeOfShareAwards"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ExpectedLifeOfShareAwards_lbl" xml:lang="en-US" id="id_14036987_3472490_3_1">An expected number of years a share award is existing.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ExpectedLifeOfShareAwards_lbl" xml:lang="en-US" id="id_14036987_3472490_1_1">Expected Life Of Share Awards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ExpectedLifeOfShareAwards_lbl" xml:lang="en-US" id="id_14036987_3472490_2_1">Expected life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ExpectedLifeOfShareAwards" xlink:to="mfc_ExpectedLifeOfShareAwards_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl" xml:lang="en-US" id="id_14036987_3419569_1_1">Expense from share-based payment transactions with employees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl" xml:lang="en-US" id="id_14036987_3419569_2_1">Compensation expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExplanationOfShareOptionsInSharebasedPaymentArrangement" xlink:label="ifrs-full_ExplanationOfShareOptionsInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExplanationOfShareOptionsInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3420010_1_1">Description of share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExplanationOfShareOptionsInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3420010_2_1">Description of share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfShareOptionsInSharebasedPaymentArrangement" xlink:to="ifrs-full_ExplanationOfShareOptionsInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory" xlink:label="ifrs-full_ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3419365_1_1">Explanation of significant changes in contract assets and contract liabilities [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3419365_2_1">Summary of Change in Insurance Contract Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory" xlink:to="ifrs-full_ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ExposureToCreditRiskOffsetByCollateralHeldAsSecurity" xlink:label="mfc_ExposureToCreditRiskOffsetByCollateralHeldAsSecurity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ExposureToCreditRiskOffsetByCollateralHeldAsSecurity_lbl" xml:lang="en-US" id="id_14036987_3453006_3_1">Exposure to credit risk offset by collateral held as security.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ExposureToCreditRiskOffsetByCollateralHeldAsSecurity_lbl" xml:lang="en-US" id="id_14036987_3453006_1_1">Exposure to credit risk offset by collateral held as security</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ExposureToCreditRiskOffsetByCollateralHeldAsSecurity_lbl" xml:lang="en-US" id="id_14036987_3453006_2_1">Exposure to credit risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ExposureToCreditRiskOffsetByCollateralHeldAsSecurity" xlink:to="mfc_ExposureToCreditRiskOffsetByCollateralHeldAsSecurity_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExternalCreditGradesAxis" xlink:label="ifrs-full_ExternalCreditGradesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExternalCreditGradesAxis_lbl" xml:lang="en-US" id="id_14036987_3419370_1_1">External credit grades [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExternalCreditGradesAxis_lbl" xml:lang="en-US" id="id_14036987_3419370_2_1">External credit grades [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExternalCreditGradesAxis" xlink:to="ifrs-full_ExternalCreditGradesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FairValueHedgesMember" xlink:label="ifrs-full_FairValueHedgesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FairValueHedgesMember_lbl" xml:lang="en-US" id="id_14036987_3419376_1_1">Fair value hedges [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FairValueHedgesMember_lbl" xml:lang="en-US" id="id_14036987_3419376_2_1">Fair value hedges [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FairValueHedgesMember" xlink:to="ifrs-full_FairValueHedgesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FairValueMeasurementsMember" xlink:label="mfc_FairValueMeasurementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FairValueMeasurementsMember_lbl" xml:lang="en-US" id="id_14036987_3480156_3_1">Fair value measurements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FairValueMeasurementsMember_lbl" xml:lang="en-US" id="id_14036987_3480156_1_1">Fair value measurements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FairValueMeasurementsMember_lbl" xml:lang="en-US" id="id_14036987_3480156_2_1">Fair value measurements [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FairValueMeasurementsMember" xlink:to="mfc_FairValueMeasurementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FairValueOfAssetsBackingCapitalAndOtherLiabilities" xlink:label="mfc_FairValueOfAssetsBackingCapitalAndOtherLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FairValueOfAssetsBackingCapitalAndOtherLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446509_3_1">Fair value of assets backing capital and other liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FairValueOfAssetsBackingCapitalAndOtherLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446509_1_1">Fair value of assets backing capital and other liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FairValueOfAssetsBackingCapitalAndOtherLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446509_2_1">Fair value of assets backing capital and other liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FairValueOfAssetsBackingCapitalAndOtherLiabilities" xlink:to="mfc_FairValueOfAssetsBackingCapitalAndOtherLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FairValueOfAssetsBackingNetInsuranceContractLiabilitiesExcludingReinsuranceAssets" xlink:label="mfc_FairValueOfAssetsBackingNetInsuranceContractLiabilitiesExcludingReinsuranceAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FairValueOfAssetsBackingNetInsuranceContractLiabilitiesExcludingReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3452952_3_1">Fair value of assets backing net insurance contract liabilities excluding reinsurance assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FairValueOfAssetsBackingNetInsuranceContractLiabilitiesExcludingReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3452952_1_1">Fair value of assets backing net insurance contract liabilities excluding reinsurance assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FairValueOfAssetsBackingNetInsuranceContractLiabilitiesExcludingReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3452952_2_1">Fair value of assets backing net insurance contract liabilities excluding reinsurance assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FairValueOfAssetsBackingNetInsuranceContractLiabilitiesExcludingReinsuranceAssets" xlink:to="mfc_FairValueOfAssetsBackingNetInsuranceContractLiabilitiesExcludingReinsuranceAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FairValueOfCapitalInstrumentsLineItems" xlink:label="mfc_FairValueOfCapitalInstrumentsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FairValueOfCapitalInstrumentsLineItems_lbl" xml:lang="en-US" id="id_14036987_3431794_3_1">Fair value of capital instruments [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FairValueOfCapitalInstrumentsLineItems_lbl" xml:lang="en-US" id="id_14036987_3431794_1_1">Fair value of capital instruments [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FairValueOfCapitalInstrumentsLineItems_lbl" xml:lang="en-US" id="id_14036987_3431794_2_1">Fair value of capital instruments [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FairValueOfCapitalInstrumentsLineItems" xlink:to="mfc_FairValueOfCapitalInstrumentsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FairValueOfCapitalInstrumentsTable" xlink:label="mfc_FairValueOfCapitalInstrumentsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FairValueOfCapitalInstrumentsTable_lbl" xml:lang="en-US" id="id_14036987_3473189_3_1">Fair value of capital instruments [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FairValueOfCapitalInstrumentsTable_lbl" xml:lang="en-US" id="id_14036987_3473189_1_1">Fair value of capital instruments [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FairValueOfCapitalInstrumentsTable_lbl" xml:lang="en-US" id="id_14036987_3473189_2_1">Fair value of capital instruments [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FairValueOfCapitalInstrumentsTable" xlink:to="mfc_FairValueOfCapitalInstrumentsTable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FairValueOfCreditAndInterestRateEmbeddedDerivatives" xlink:label="mfc_FairValueOfCreditAndInterestRateEmbeddedDerivatives"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FairValueOfCreditAndInterestRateEmbeddedDerivatives_lbl" xml:lang="en-US" id="id_14036987_3446693_3_1">Fair value of credit and interest rate embedded derivatives.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FairValueOfCreditAndInterestRateEmbeddedDerivatives_lbl" xml:lang="en-US" id="id_14036987_3446693_1_1">Fair value of credit and interest rate embedded derivatives</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FairValueOfCreditAndInterestRateEmbeddedDerivatives_lbl" xml:lang="en-US" id="id_14036987_3446693_2_1">Fair value of credit and interest rate embedded derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FairValueOfCreditAndInterestRateEmbeddedDerivatives" xlink:to="mfc_FairValueOfCreditAndInterestRateEmbeddedDerivatives_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet" xlink:label="mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet_lbl" xml:lang="en-US" id="id_14036987_3446743_3_1">Fair value of derivative financial assets liabilities net.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet_lbl" xml:lang="en-US" id="id_14036987_3446743_1_1">Fair value of derivative financial assets liabilities net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet_lbl" xml:lang="en-US" id="id_14036987_3446743_2_1">Fair value, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet" xlink:to="mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FairValueOfReinsuranceAssumedGuaranteedMinimumIncomeBenefits" xlink:label="mfc_FairValueOfReinsuranceAssumedGuaranteedMinimumIncomeBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FairValueOfReinsuranceAssumedGuaranteedMinimumIncomeBenefits_lbl" xml:lang="en-US" id="id_14036987_3446699_3_1">Fair value of reinsurance assumed guaranteed minimum income benefits.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FairValueOfReinsuranceAssumedGuaranteedMinimumIncomeBenefits_lbl" xml:lang="en-US" id="id_14036987_3446699_1_1">Fair value of reinsurance assumed guaranteed minimum income benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FairValueOfReinsuranceAssumedGuaranteedMinimumIncomeBenefits_lbl" xml:lang="en-US" id="id_14036987_3446699_2_1">Fair value of reinsurance assumed guaranteed minimum income benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FairValueOfReinsuranceAssumedGuaranteedMinimumIncomeBenefits" xlink:to="mfc_FairValueOfReinsuranceAssumedGuaranteedMinimumIncomeBenefits_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FairValueOfReinsuranceCededGuaranteedMinimumIncomeBenefits" xlink:label="mfc_FairValueOfReinsuranceCededGuaranteedMinimumIncomeBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FairValueOfReinsuranceCededGuaranteedMinimumIncomeBenefits_lbl" xml:lang="en-US" id="id_14036987_3446698_3_1">Fair value of reinsurance ceded guaranteed minimum income benefits.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FairValueOfReinsuranceCededGuaranteedMinimumIncomeBenefits_lbl" xml:lang="en-US" id="id_14036987_3446698_1_1">Fair value of reinsurance ceded guaranteed minimum income benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FairValueOfReinsuranceCededGuaranteedMinimumIncomeBenefits_lbl" xml:lang="en-US" id="id_14036987_3446698_2_1">Fair value of reinsurance ceded guaranteed minimum income benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FairValueOfReinsuranceCededGuaranteedMinimumIncomeBenefits" xlink:to="mfc_FairValueOfReinsuranceCededGuaranteedMinimumIncomeBenefits_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement" xlink:label="mfc_FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3522977_3_1">Fair value per unit other equity instruments in share based payment arrangement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3522977_1_1">Fair value per unit other equity instruments in share based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3522977_2_1">Fair value of equity granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement" xlink:to="mfc_FairValuePerUnitOtherEquityInstrumentsInShareBasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FebruaryTwentySixTwoThousandAndEighteenMember" xlink:label="mfc_FebruaryTwentySixTwoThousandAndEighteenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FebruaryTwentySixTwoThousandAndEighteenMember_lbl" xml:lang="en-US" id="id_14036987_3541973_3_1">February twenty six two thousand and eighteen [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FebruaryTwentySixTwoThousandAndEighteenMember_lbl" xml:lang="en-US" id="id_14036987_3541973_1_1">February twenty six two thousand and eighteen [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FebruaryTwentySixTwoThousandAndEighteenMember_lbl" xml:lang="en-US" id="id_14036987_3541973_2_1">On February 26, 2018 [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FebruaryTwentySixTwoThousandAndEighteenMember" xlink:to="mfc_FebruaryTwentySixTwoThousandAndEighteenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_FederalHomeLoanBankOfIndianapolisMember" xlink:label="srt_FederalHomeLoanBankOfIndianapolisMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_FederalHomeLoanBankOfIndianapolisMember_lbl" xml:lang="en-US" id="id_14036987_3419827_1_1">Federal Home Loan Bank of Indianapolis [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_FederalHomeLoanBankOfIndianapolisMember_lbl" xml:lang="en-US" id="id_14036987_3419827_2_1">FHLBI facility [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_FederalHomeLoanBankOfIndianapolisMember" xlink:to="srt_FederalHomeLoanBankOfIndianapolisMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FeeAndCommissionExpense" xlink:label="ifrs-full_FeeAndCommissionExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FeeAndCommissionExpense_lbl" xml:lang="en-US" id="id_14036987_3420038_1_1">Fee and commission expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FeeAndCommissionExpense_lbl" xml:lang="en-US" id="id_14036987_3420038_2_1">Commissions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FeeAndCommissionExpense" xlink:to="ifrs-full_FeeAndCommissionExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FemaleMember" xlink:label="mfc_FemaleMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FemaleMember_lbl" xml:lang="en-US" id="id_14036987_3477399_3_1">Female [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FemaleMember_lbl" xml:lang="en-US" id="id_14036987_3477399_1_1">Female [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FemaleMember_lbl" xml:lang="en-US" id="id_14036987_3477399_2_1">Female [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FemaleMember" xlink:to="mfc_FemaleMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssets" xlink:label="ifrs-full_FinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3419397_1_1">Financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3419397_32_1">Net carrying value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3419397_33_1">Total carrying value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3419397_2_1">Carrying value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3419397_12_1">Carrying value or impaired value, financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssets" xlink:to="ifrs-full_FinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsAtFairValue" xlink:label="ifrs-full_FinancialAssetsAtFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3420049_1_1">Financial assets, at fair value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3420049_2_1">Fair value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3420049_12_1">Total fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValue" xlink:to="ifrs-full_FinancialAssetsAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsAtFairValueMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAtFairValueMember_lbl" xml:lang="en-US" id="id_14036987_3420291_1_1">Financial assets at fair value, class [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValueMember_lbl" xml:lang="en-US" id="id_14036987_3420291_2_1">Financial assets at fair value, class [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValueMember" xlink:to="ifrs-full_FinancialAssetsAtFairValueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_lbl" xml:lang="en-US" id="id_14036987_3420070_1_1">Financial assets at fair value through profit or loss, category [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_lbl" xml:lang="en-US" id="id_14036987_3420070_2_1">FVTPL [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsAvailableforsaleCategoryMember" xlink:label="ifrs-full_FinancialAssetsAvailableforsaleCategoryMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAvailableforsaleCategoryMember_lbl" xml:lang="en-US" id="id_14036987_3420053_1_1">Financial assets available-for-sale, category [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAvailableforsaleCategoryMember_lbl" xml:lang="en-US" id="id_14036987_3420053_2_1">AFS [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAvailableforsaleCategoryMember" xlink:to="ifrs-full_FinancialAssetsAvailableforsaleCategoryMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsCategoryMember_lbl" xml:lang="en-US" id="id_14036987_3420055_1_1">Financial assets, category [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsCategoryMember_lbl" xml:lang="en-US" id="id_14036987_3420055_2_1">Financial assets, category [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsCategoryMember" xlink:to="ifrs-full_FinancialAssetsCategoryMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FinancialAssetsClassifiedAsHeldForSale" xlink:label="mfc_FinancialAssetsClassifiedAsHeldForSale"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FinancialAssetsClassifiedAsHeldForSale_lbl" xml:lang="en-US" id="id_14036987_3447708_3_1">Financial assets classified as held for sale.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FinancialAssetsClassifiedAsHeldForSale_lbl" xml:lang="en-US" id="id_14036987_3447708_1_1">Financial assets classified as held for sale</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FinancialAssetsClassifiedAsHeldForSale" xlink:to="mfc_FinancialAssetsClassifiedAsHeldForSale_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FinancialAssetsImpairedLoanMember" xlink:label="mfc_FinancialAssetsImpairedLoanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FinancialAssetsImpairedLoanMember_lbl" xml:lang="en-US" id="id_14036987_3489254_3_1">Financial assets impaired loan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FinancialAssetsImpairedLoanMember_lbl" xml:lang="en-US" id="id_14036987_3489254_1_1">Financial assets impaired loan [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FinancialAssetsImpairedLoanMember_lbl" xml:lang="en-US" id="id_14036987_3489254_2_1">Financial assets impaired loan [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FinancialAssetsImpairedLoanMember" xlink:to="mfc_FinancialAssetsImpairedLoanMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsImpairedMember" xlink:label="ifrs-full_FinancialAssetsImpairedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsImpairedMember_lbl" xml:lang="en-US" id="id_14036987_3420057_1_1">Financial assets impaired [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsImpairedMember_lbl" xml:lang="en-US" id="id_14036987_3420057_2_1">Impaired [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsImpairedMember" xlink:to="ifrs-full_FinancialAssetsImpairedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3420713_1_1">Financial assets, class [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3420713_2_1">Financial assets, class [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ifrs-full_FinancialAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsPastDueButNotImpairedMember" xlink:label="ifrs-full_FinancialAssetsPastDueButNotImpairedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsPastDueButNotImpairedMember_lbl" xml:lang="en-US" id="id_14036987_3420080_1_1">Financial assets past due but not impaired [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsPastDueButNotImpairedMember_lbl" xml:lang="en-US" id="id_14036987_3420080_2_1">Financial assets past due but not impaired [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsPastDueButNotImpairedMember" xlink:to="ifrs-full_FinancialAssetsPastDueButNotImpairedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsPledgedAsCollateralForLiabilitiesOrContingentLiabilities" xlink:label="ifrs-full_FinancialAssetsPledgedAsCollateralForLiabilitiesOrContingentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsPledgedAsCollateralForLiabilitiesOrContingentLiabilities_lbl" xml:lang="en-US" id="id_14036987_3420295_1_1">Financial assets pledged as collateral for liabilities or contingent liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsPledgedAsCollateralForLiabilitiesOrContingentLiabilities_lbl" xml:lang="en-US" id="id_14036987_3420295_2_1">Pledged amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsPledgedAsCollateralForLiabilitiesOrContingentLiabilities" xlink:to="ifrs-full_FinancialAssetsPledgedAsCollateralForLiabilitiesOrContingentLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsTypeMember" xlink:label="ifrs-full_FinancialAssetsTypeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsTypeMember_lbl" xml:lang="en-US" id="id_14036987_3420716_1_1">Financial assets, type [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsTypeMember_lbl" xml:lang="en-US" id="id_14036987_3420716_2_1">Financial assets, type [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsTypeMember" xlink:to="ifrs-full_FinancialAssetsTypeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FinancialInstrumentsDisclosuresUnderIFRS7Explanatory" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Explanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Explanatory_lbl" xml:lang="en-US" id="id_14036987_3515226_3_1">Financial Instruments - Disclosures under IFRS 7.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Explanatory_lbl" xml:lang="en-US" id="id_14036987_3515226_1_1">Financial Instruments - Disclosures under IFRS 7 [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Explanatory_lbl" xml:lang="en-US" id="id_14036987_3515226_2_1">IFRS 7 Disclosures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Explanatory" xlink:to="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Explanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FinancialInstrumentsDisclosuresUnderIFRS7LineItems" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7LineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7LineItems_lbl" xml:lang="en-US" id="id_14036987_3430811_3_1">Financial Instruments - Disclosures under IFRS 7 [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7LineItems_lbl" xml:lang="en-US" id="id_14036987_3430811_1_1">Financial Instruments - Disclosures under IFRS 7 [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7LineItems_lbl" xml:lang="en-US" id="id_14036987_3430811_2_1">Financial Instruments - Disclosures under IFRS 7 [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FinancialInstrumentsDisclosuresUnderIFRS7LineItems" xlink:to="mfc_FinancialInstrumentsDisclosuresUnderIFRS7LineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FinancialInstrumentsDisclosuresUnderIFRS7Table" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Table"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Table_lbl" xml:lang="en-US" id="id_14036987_3474286_3_1">Financial Instruments - Disclosures under IFRS 7 [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Table_lbl" xml:lang="en-US" id="id_14036987_3474286_1_1">Financial Instruments - Disclosures under IFRS 7 [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Table_lbl" xml:lang="en-US" id="id_14036987_3474286_2_1">Financial Instruments - Disclosures under IFRS 7 [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Table" xlink:to="mfc_FinancialInstrumentsDisclosuresUnderIFRS7Table_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FinancialInstrumentsMember" xlink:label="mfc_FinancialInstrumentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FinancialInstrumentsMember_lbl" xml:lang="en-US" id="id_14036987_3509477_3_1">Financial Instruments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FinancialInstrumentsMember_lbl" xml:lang="en-US" id="id_14036987_3509477_1_1">Financial Instruments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FinancialInstrumentsMember_lbl" xml:lang="en-US" id="id_14036987_3509477_2_1">Financial Instruments [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FinancialInstrumentsMember" xlink:to="mfc_FinancialInstrumentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3420725_1_1">Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3420725_2_1">Largest single counterparty exposure without master netting agreements or the benefit of collateral held</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3420725_14_1">Amounts subject to an enforceable master netting arrangement or similar agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets" xlink:to="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3420309_1_1">Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3420309_2_1">Amounts subject to an enforceable master netting arrangement or similar agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities" xlink:to="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCostMember" xlink:label="ifrs-full_FinancialLiabilitiesAtAmortisedCostMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesAtAmortisedCostMember_lbl" xml:lang="en-US" id="id_14036987_3420096_1_1">Financial liabilities at amortised cost, class [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtAmortisedCostMember_lbl" xml:lang="en-US" id="id_14036987_3420096_2_1">Amortized cost, gross of reinsurance ceded [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtAmortisedCostMember" xlink:to="ifrs-full_FinancialLiabilitiesAtAmortisedCostMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesAtFairValue" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3420314_1_1">Financial liabilities, at fair value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3420314_2_1">Capital instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValue" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesAtFairValueMember" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueMember_lbl" xml:lang="en-US" id="id_14036987_3420728_1_1">Financial liabilities at fair value, class [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueMember_lbl" xml:lang="en-US" id="id_14036987_3420728_2_1">Fair value [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValueMember" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FinancialLiabilitiesBeforeLongTermDebtCapitalInstrumentsAndSegregatedFunds" xlink:label="mfc_FinancialLiabilitiesBeforeLongTermDebtCapitalInstrumentsAndSegregatedFunds"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FinancialLiabilitiesBeforeLongTermDebtCapitalInstrumentsAndSegregatedFunds_lbl" xml:lang="en-US" id="id_14036987_3451231_3_1">Financial Liabilities before long term debt,capital instruments and segregated funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FinancialLiabilitiesBeforeLongTermDebtCapitalInstrumentsAndSegregatedFunds_lbl" xml:lang="en-US" id="id_14036987_3451231_1_1">Financial Liabilities before long term debt,capital instruments and segregated funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_FinancialLiabilitiesBeforeLongTermDebtCapitalInstrumentsAndSegregatedFunds_lbl" xml:lang="en-US" id="id_14036987_3451231_6_1">Financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FinancialLiabilitiesBeforeLongTermDebtCapitalInstrumentsAndSegregatedFunds" xlink:to="mfc_FinancialLiabilitiesBeforeLongTermDebtCapitalInstrumentsAndSegregatedFunds_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesMember" xlink:label="ifrs-full_FinancialLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3420503_1_1">Financial liabilities, class [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3420503_2_1">Financial liabilities, class [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesMember" xlink:to="ifrs-full_FinancialLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesTypeMember" xlink:label="ifrs-full_FinancialLiabilitiesTypeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesTypeMember_lbl" xml:lang="en-US" id="id_14036987_3420733_1_1">Financial liabilities, type [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesTypeMember_lbl" xml:lang="en-US" id="id_14036987_3420733_2_1">Financial liabilities, type [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesTypeMember" xlink:to="ifrs-full_FinancialLiabilitiesTypeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FinancialMember" xlink:label="mfc_FinancialMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FinancialMember_lbl" xml:lang="en-US" id="id_14036987_3479691_3_1">Financial.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FinancialMember_lbl" xml:lang="en-US" id="id_14036987_3479691_1_1">Financial [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FinancialMember_lbl" xml:lang="en-US" id="id_14036987_3479691_2_1">Financial [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FinancialMember" xlink:to="mfc_FinancialMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FinancingStructuredEntitiesMember" xlink:label="mfc_FinancingStructuredEntitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FinancingStructuredEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3502595_3_1">Financing subsidiary entities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FinancingStructuredEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3502595_1_1">Financing Structured Entities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FinancingStructuredEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3502595_2_1">Financing SEs [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FinancingStructuredEntitiesMember" xlink:to="mfc_FinancingStructuredEntitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FiniteLivedIntangibleAssetUsefulLife1" xlink:label="mfc_FiniteLivedIntangibleAssetUsefulLife1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FiniteLivedIntangibleAssetUsefulLife1_lbl" xml:lang="en-US" id="id_14036987_3472768_3_1">Finite lived intangible asset useful life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FiniteLivedIntangibleAssetUsefulLife1_lbl" xml:lang="en-US" id="id_14036987_3472768_1_1">Finite Lived Intangible Asset Useful Life1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FiniteLivedIntangibleAssetUsefulLife1_lbl" xml:lang="en-US" id="id_14036987_3472768_2_1">Finite -Lived intangible assets, useful life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FiniteLivedIntangibleAssetUsefulLife1" xlink:to="mfc_FiniteLivedIntangibleAssetUsefulLife1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FirstNorthAmericanInsuranceCompanyMember" xlink:label="mfc_FirstNorthAmericanInsuranceCompanyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FirstNorthAmericanInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479813_3_1">First North American Insurance Company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FirstNorthAmericanInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479813_1_1">First North American Insurance Company [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FirstNorthAmericanInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479813_2_1">First North American Insurance Company [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FirstNorthAmericanInsuranceCompanyMember" xlink:to="mfc_FirstNorthAmericanInsuranceCompanyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FivePercentAdverseChangeInFutureMorbidityClaimsTerminationRatesMember" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityClaimsTerminationRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityClaimsTerminationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3541953_3_1">Five percent adverse change in future morbidity claims termination rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityClaimsTerminationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3541953_1_1">Five percent adverse change in future morbidity claims termination rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityClaimsTerminationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3541953_2_1">5% adverse change in future morbidity claims termination rates [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FivePercentAdverseChangeInFutureMorbidityClaimsTerminationRatesMember" xlink:to="mfc_FivePercentAdverseChangeInFutureMorbidityClaimsTerminationRatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FivePercentAdverseChangeInFutureMorbidityIncidenceRatesMember" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityIncidenceRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityIncidenceRatesMember_lbl" xml:lang="en-US" id="id_14036987_3541952_3_1">Five percent adverse change in future morbidity incidence rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityIncidenceRatesMember_lbl" xml:lang="en-US" id="id_14036987_3541952_1_1">Five percent adverse change in future morbidity incidence rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityIncidenceRatesMember_lbl" xml:lang="en-US" id="id_14036987_3541952_2_1">5% adverse change in future morbidity incidence rates [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FivePercentAdverseChangeInFutureMorbidityIncidenceRatesMember" xlink:to="mfc_FivePercentAdverseChangeInFutureMorbidityIncidenceRatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FivePercentAdverseChangeInFutureMorbidityRatesMember" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityRatesMember_lbl" xml:lang="en-US" id="id_14036987_3479857_3_1">This member stands for five percent adverse change in future morbidity rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityRatesMember_lbl" xml:lang="en-US" id="id_14036987_3479857_1_1">Five percent adverse change in future morbidity rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FivePercentAdverseChangeInFutureMorbidityRatesMember_lbl" xml:lang="en-US" id="id_14036987_3479857_2_1">5% adverse change in future morbidity rates (incidence and termination) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FivePercentAdverseChangeInFutureMorbidityRatesMember" xlink:to="mfc_FivePercentAdverseChangeInFutureMorbidityRatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FivePercentIncreaseInFutureExpenseLevelsMember" xlink:label="mfc_FivePercentIncreaseInFutureExpenseLevelsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FivePercentIncreaseInFutureExpenseLevelsMember_lbl" xml:lang="en-US" id="id_14036987_3479858_3_1">This member stands for five percent increase in future expense levels.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FivePercentIncreaseInFutureExpenseLevelsMember_lbl" xml:lang="en-US" id="id_14036987_3479858_1_1">Five percent increase in future expense levels [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FivePercentIncreaseInFutureExpenseLevelsMember_lbl" xml:lang="en-US" id="id_14036987_3479858_2_1">5% increase in future expense levels [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FivePercentIncreaseInFutureExpenseLevelsMember" xlink:to="mfc_FivePercentIncreaseInFutureExpenseLevelsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FivePointFiveZeroFivePercentageMediumTermNotesMember" xlink:label="mfc_FivePointFiveZeroFivePercentageMediumTermNotesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FivePointFiveZeroFivePercentageMediumTermNotesMember_lbl" xml:lang="en-US" id="id_14036987_3489253_3_1">5.505% medium term notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FivePointFiveZeroFivePercentageMediumTermNotesMember_lbl" xml:lang="en-US" id="id_14036987_3489253_1_1">Five Point Five Zero Five Percentage Medium Term Notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FivePointFiveZeroFivePercentageMediumTermNotesMember_lbl" xml:lang="en-US" id="id_14036987_3489253_2_1">5.505% Medium term notes [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FivePointFiveZeroFivePercentageMediumTermNotesMember" xlink:to="mfc_FivePointFiveZeroFivePercentageMediumTermNotesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FivePointThreeSevenFivePercentageSeniorNotesMember" xlink:label="mfc_FivePointThreeSevenFivePercentageSeniorNotesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FivePointThreeSevenFivePercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480027_3_1">5.375% senior notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FivePointThreeSevenFivePercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480027_1_1">Five Point Three Seven Five Percentage Senior Notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FivePointThreeSevenFivePercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480027_2_1">5.375% Senior notes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FivePointThreeSevenFivePercentageSeniorNotesMember" xlink:to="mfc_FivePointThreeSevenFivePercentageSeniorNotesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FixedIncomeFunds1Member" xlink:label="mfc_FixedIncomeFunds1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FixedIncomeFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3485581_3_1">Fixed income funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FixedIncomeFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3485581_1_1">Fixed Income Funds 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FixedIncomeFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3485581_2_1">Fixed income funds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FixedIncomeFunds1Member" xlink:to="mfc_FixedIncomeFunds1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FixedRateAssetsMember" xlink:label="mfc_FixedRateAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FixedRateAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479789_3_1">Fixed rate assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FixedRateAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479789_1_1">Fixed rate assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FixedRateAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479789_2_1">Fixed rate assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FixedRateAssetsMember" xlink:to="mfc_FixedRateAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FixedRateLiabilitiesMember" xlink:label="mfc_FixedRateLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FixedRateLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479790_3_1">Fixed rate liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FixedRateLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479790_1_1">Fixed rate liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FixedRateLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479790_2_1">Fixed rate liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FixedRateLiabilitiesMember" xlink:to="mfc_FixedRateLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FloatingRateLiabilitiesMember" xlink:label="mfc_FloatingRateLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FloatingRateLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479796_3_1">Floating rate liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FloatingRateLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479796_1_1">Floating rate liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FloatingRateLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479796_2_1">Floating rate liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FloatingRateLiabilitiesMember" xlink:to="mfc_FloatingRateLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ForecastedExpensesMember" xlink:label="mfc_ForecastedExpensesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ForecastedExpensesMember_lbl" xml:lang="en-US" id="id_14036987_3479798_3_1">Forecasted expenses.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ForecastedExpensesMember_lbl" xml:lang="en-US" id="id_14036987_3479798_1_1">Forecasted expenses [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ForecastedExpensesMember_lbl" xml:lang="en-US" id="id_14036987_3479798_2_1">Forecasted expenses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ForecastedExpensesMember" xlink:to="mfc_ForecastedExpensesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ForecastedLiabilitiesMember" xlink:label="mfc_ForecastedLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ForecastedLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479794_3_1">Forecasted liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ForecastedLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479794_1_1">Forecasted liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ForecastedLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479794_2_1">Forecasted liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ForecastedLiabilitiesMember" xlink:to="mfc_ForecastedLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ForeignCurrencyForwardsMember" xlink:label="mfc_ForeignCurrencyForwardsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ForeignCurrencyForwardsMember_lbl" xml:lang="en-US" id="id_14036987_3499534_3_1">Foreign currency forwards member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ForeignCurrencyForwardsMember_lbl" xml:lang="en-US" id="id_14036987_3499534_1_1">Foreign Currency Forwards [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ForeignCurrencyForwardsMember_lbl" xml:lang="en-US" id="id_14036987_3499534_2_1">Foreign Currency Forwards [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ForeignCurrencyForwardsMember" xlink:to="mfc_ForeignCurrencyForwardsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ForeignExchange4Member" xlink:label="mfc_ForeignExchange4Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ForeignExchange4Member_lbl" xml:lang="en-US" id="id_14036987_3479752_3_1">Foreign exchange.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ForeignExchange4Member_lbl" xml:lang="en-US" id="id_14036987_3479752_1_1">Foreign exchange4 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ForeignExchange4Member_lbl" xml:lang="en-US" id="id_14036987_3479752_2_1">Foreign exchange [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ForeignExchange4Member" xlink:to="mfc_ForeignExchange4Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ForeignExchangeContract1Member" xlink:label="mfc_ForeignExchangeContract1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ForeignExchangeContract1Member_lbl" xml:lang="en-US" id="id_14036987_3479698_3_1">Foreign exchange contract.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ForeignExchangeContract1Member_lbl" xml:lang="en-US" id="id_14036987_3479698_1_1">Foreign Exchange Contract 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ForeignExchangeContract1Member_lbl" xml:lang="en-US" id="id_14036987_3479698_2_1">Foreign Exchange Contract [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ForeignExchangeContract1Member" xlink:to="mfc_ForeignExchangeContract1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ForeignExchangeManagementRiskManagementStrategy" xlink:label="mfc_ForeignExchangeManagementRiskManagementStrategy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ForeignExchangeManagementRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514667_3_1">Percentage of foreign exchange management risk management strategy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ForeignExchangeManagementRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514667_1_1">Foreign Exchange Management Risk Management Strategy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ForeignExchangeManagementRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514667_2_1">Foreign exchange management</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ForeignExchangeManagementRiskManagementStrategy" xlink:to="mfc_ForeignExchangeManagementRiskManagementStrategy_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ForwardContractMember" xlink:label="ifrs-full_ForwardContractMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ForwardContractMember_lbl" xml:lang="en-US" id="id_14036987_3420330_1_1">Forward contract [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ForwardContractMember_lbl" xml:lang="en-US" id="id_14036987_3420330_2_1">Forward contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ForwardContractMember" xlink:to="ifrs-full_ForwardContractMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FourPointNineZeroPercentageSeniorNotesMember" xlink:label="mfc_FourPointNineZeroPercentageSeniorNotesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FourPointNineZeroPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480109_3_1">4.90% senior notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FourPointNineZeroPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480109_1_1">Four Point Nine Zero Percentage Senior Notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FourPointNineZeroPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480109_2_1">4.90% Senior notes [Member]</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FourPointOneFiveZeroPercentageSeniorNotesMember" xlink:label="mfc_FourPointOneFiveZeroPercentageSeniorNotesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FourPointOneFiveZeroPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480110_3_1">4.150% senior notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FourPointOneFiveZeroPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480110_1_1">Four Point One Five Zero Percentage Senior Notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FourPointOneFiveZeroPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480110_2_1">4.150% Senior notes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FourPointOneFiveZeroPercentageSeniorNotesMember" xlink:to="mfc_FourPointOneFiveZeroPercentageSeniorNotesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FourPointSevenZeroPercentageSeniorNotesMember" xlink:label="mfc_FourPointSevenZeroPercentageSeniorNotesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FourPointSevenZeroPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480030_3_1">4.70% senior notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FourPointSevenZeroPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480030_1_1">Four Point Seven Zero Percentage Senior Notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FourPointSevenZeroPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3480030_2_1">4.70% Senior notes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FourPointSevenZeroPercentageSeniorNotesMember" xlink:to="mfc_FourPointSevenZeroPercentageSeniorNotesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FourPointZeroSixOnePercentageSubordinatedNotesMember" xlink:label="mfc_FourPointZeroSixOnePercentageSubordinatedNotesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FourPointZeroSixOnePercentageSubordinatedNotesMember_lbl" xml:lang="en-US" id="id_14036987_3494897_3_1">Four point zero six one percentage subordinated notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FourPointZeroSixOnePercentageSubordinatedNotesMember_lbl" xml:lang="en-US" id="id_14036987_3494897_1_1">Four Point Zero Six One Percentage Subordinated Notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FourPointZeroSixOnePercentageSubordinatedNotesMember_lbl" xml:lang="en-US" id="id_14036987_3494897_2_1">4.061% MFC subordinated notes [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FourPointZeroSixOnePercentageSubordinatedNotesMember" xlink:to="mfc_FourPointZeroSixOnePercentageSubordinatedNotesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_FundManagementContractsAndOtherMember" xlink:label="mfc_FundManagementContractsAndOtherMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_FundManagementContractsAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3479880_3_1">Fund management contracts and other.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_FundManagementContractsAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3479880_1_1">Fund management contracts and other [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_FundManagementContractsAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3479880_2_1">Fund management contracts and other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_FundManagementContractsAndOtherMember" xlink:to="mfc_FundManagementContractsAndOtherMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FuturesContractMember" xlink:label="ifrs-full_FuturesContractMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FuturesContractMember_lbl" xml:lang="en-US" id="id_14036987_3420118_1_1">Futures contract [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FuturesContractMember_lbl" xml:lang="en-US" id="id_14036987_3420118_2_1">Futures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FuturesContractMember" xlink:to="ifrs-full_FuturesContractMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GainFromImpactOfTaxReform" xlink:label="mfc_GainFromImpactOfTaxReform"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GainFromImpactOfTaxReform_lbl" xml:lang="en-US" id="id_14036987_3542035_3_1">Gain from impact of tax reform.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GainFromImpactOfTaxReform_lbl" xml:lang="en-US" id="id_14036987_3542035_1_1">Gain from impact of tax reform</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GainFromImpactOfTaxReform_lbl" xml:lang="en-US" id="id_14036987_3542035_2_1">Gain from impact of tax reform</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GainFromImpactOfTaxReform" xlink:to="mfc_GainFromImpactOfTaxReform_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:label="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness_lbl" xml:lang="en-US" id="id_14036987_3420538_1_1">Gain (loss) on change in fair value of hedged item used as basis for recognising hedge ineffectiveness</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness_lbl" xml:lang="en-US" id="id_14036987_3420538_2_1">Gains (losses) recognized for hedged items</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:to="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling" xlink:label="ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling_lbl" xml:lang="en-US" id="id_14036987_3420539_1_1">Gain (loss) on changes in effect of limiting net defined benefit asset to asset ceiling excluding interest income or expense, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling_lbl" xml:lang="en-US" id="id_14036987_3420539_2_1">Change in effect of asset limit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling_lbl" xml:lang="en-US" id="id_14036987_3420539_14_1">Effect of asset limit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling" xlink:to="ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainLossOnHedgeIneffectiveness" xlink:label="ifrs-full_GainLossOnHedgeIneffectiveness"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainLossOnHedgeIneffectiveness_lbl" xml:lang="en-US" id="id_14036987_3420540_1_1">Gain (loss) on hedge ineffectiveness</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_GainLossOnHedgeIneffectiveness_lbl" xml:lang="en-US" id="id_14036987_3420540_6_1">Ineffectiveness recognized in investment income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnHedgeIneffectiveness" xlink:to="ifrs-full_GainLossOnHedgeIneffectiveness_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GainLossOnInvestmentInterestIncome" xlink:label="mfc_GainLossOnInvestmentInterestIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GainLossOnInvestmentInterestIncome_lbl" xml:lang="en-US" id="id_14036987_3446767_3_1">Gain loss on investment interest income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GainLossOnInvestmentInterestIncome_lbl" xml:lang="en-US" id="id_14036987_3446767_1_1">Gain loss on investment interest income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GainLossOnInvestmentInterestIncome_lbl" xml:lang="en-US" id="id_14036987_3446767_2_1">Gains (losses)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GainLossOnInvestmentInterestIncome" xlink:to="mfc_GainLossOnInvestmentInterestIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3420125_1_1">Gain (loss) on remeasurement, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3420125_6_1">Total re-measurement effects</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAssetAbstract" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAssetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAssetAbstract_lbl" xml:lang="en-US" id="id_14036987_3420541_1_1">Gain (loss) on remeasurement, net defined benefit liability (asset) [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAssetAbstract_lbl" xml:lang="en-US" id="id_14036987_3420541_2_1">Actuarial losses (gains) due to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAssetAbstract" xlink:to="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAssetAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives" xlink:label="mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives_lbl" xml:lang="en-US" id="id_14036987_3446712_3_1">Gains (losses) deferred in accumulated other comprehensive income on derivatives.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives_lbl" xml:lang="en-US" id="id_14036987_3446712_1_1">Gains (losses) deferred in accumulated other comprehensive income on derivatives</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives_lbl" xml:lang="en-US" id="id_14036987_3446712_2_1">Gains (losses) deferred in AOCI on derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives" xlink:to="mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:label="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3420343_1_1">Gains (losses) on cash flow hedges, net of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3420343_2_1">Change in unrealized gains (losses) on derivative instruments designated as cash flow hedges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3420343_12_1">Unrealized gains (losses) arising during the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:to="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:label="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives_lbl" xml:lang="en-US" id="id_14036987_3420760_1_1">Gains (losses) on change in fair value of derivatives</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives_lbl" xml:lang="en-US" id="id_14036987_3420760_32_1">Gains (losses) recognized on derivatives</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives_lbl" xml:lang="en-US" id="id_14036987_3420760_2_1">Change in the fair value of these invested assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives_lbl" xml:lang="en-US" id="id_14036987_3420760_12_1">Change in unrealized gains (losses) on instruments still held</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:to="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3420355_1_1">Gains (losses) on exchange differences on translation, net of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3420355_2_1">Change in unrealized foreign exchange gains (losses) of net foreign operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3420355_12_1">Translation of foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xml:lang="en-US" id="id_14036987_3420553_1_1">Foreign exchange gain (loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xml:lang="en-US" id="id_14036987_3420553_14_1">Currency Movement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:label="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3420770_1_1">Gains (losses) on hedges of net investments in foreign operations, net of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3420770_2_1">Net investment hedges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:to="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3420365_2_1">Change in unrealized gains (losses) on available-for-sale financial securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3420365_12_1">Unrealized gains (losses) arising during the year</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome" xlink:label="mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3446705_3_1">Gains (losses) reclassified from accumulated other comprehensive income into investment income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3446705_1_1">Gains (losses) reclassified from accumulated other comprehensive income into investment income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3446705_2_1">Gains (losses) reclassified from AOCI into investment income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome" xlink:to="mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets" xlink:label="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets_lbl" xml:lang="en-US" id="id_14036987_3420144_1_1">Gains (losses) recognised in other comprehensive income, fair value measurement, assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets_lbl" xml:lang="en-US" id="id_14036987_3420144_2_1">Net realized/unrealized gains (losses) included in net AOCI</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets" xlink:to="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement" xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement_lbl" xml:lang="en-US" id="id_14036987_3420776_1_1">Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for assets held at end of period, fair value measurement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement_lbl" xml:lang="en-US" id="id_14036987_3420776_2_1">Change in unrealized gains (losses) on assets still held</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement" xlink:to="ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets" xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets_lbl" xml:lang="en-US" id="id_14036987_3420146_1_1">Gains (losses) recognised in profit or loss, fair value measurement, assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets_lbl" xml:lang="en-US" id="id_14036987_3420146_2_1">Net realized/unrealized gains (losses) included in net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets" xlink:to="ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesRecognisedInProfitOrLossOnBuyingReinsurance" xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossOnBuyingReinsurance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossOnBuyingReinsurance_lbl" xml:lang="en-US" id="id_14036987_3420777_1_1">Gains (losses) recognised in profit or loss on buying reinsurance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossOnBuyingReinsurance_lbl" xml:lang="en-US" id="id_14036987_3420777_2_1">Reinsurance transaction, after-tax gain</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesRecognisedInProfitOrLossOnBuyingReinsurance" xlink:to="ifrs-full_GainsLossesRecognisedInProfitOrLossOnBuyingReinsurance_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xml:lang="en-US" id="id_14036987_3420782_1_1">Geographical areas [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xml:lang="en-US" id="id_14036987_3420782_2_1">Geographical areas [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeographicalAreasMember_lbl" xml:lang="en-US" id="id_14036987_3420376_1_1">Geographical areas [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GeographicalAreasMember_lbl" xml:lang="en-US" id="id_14036987_3420376_2_1">Geographical areas [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ifrs-full_GeographicalAreasMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GlobalWealthAndAssetManagementMember" xlink:label="mfc_GlobalWealthAndAssetManagementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GlobalWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3536730_3_1">Global wealth and asset management.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GlobalWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3536730_1_1">Global wealth and asset management [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GlobalWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3536730_2_1">Global wealth and asset management [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GlobalWealthAndAssetManagementMember" xlink:to="mfc_GlobalWealthAndAssetManagementMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GonvernmentAndAgencyMember" xlink:label="mfc_GonvernmentAndAgencyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GonvernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3489259_3_1">Gonvernment and agency.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GonvernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3489259_1_1">Gonvernment And Agency [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GonvernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3489259_2_1">Government and agency [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GonvernmentAndAgencyMember" xlink:to="mfc_GonvernmentAndAgencyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Goodwill_lbl" xml:lang="en-US" id="id_14036987_3420792_1_1">Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Goodwill_lbl" xml:lang="en-US" id="id_14036987_3420792_4_1">Goodwill Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Goodwill_lbl" xml:lang="en-US" id="id_14036987_3420792_5_1">Goodwill Beginning balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GoodwillAndIntangibleAssetsMember" xlink:label="mfc_GoodwillAndIntangibleAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GoodwillAndIntangibleAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479874_3_1">Goodwill and intangible assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GoodwillAndIntangibleAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479874_1_1">Goodwill and intangible assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GoodwillAndIntangibleAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479874_2_1">Goodwill and intangible assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GoodwillAndIntangibleAssetsMember" xlink:to="mfc_GoodwillAndIntangibleAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GovernmentDebtSecuritiesPercentage" xlink:label="mfc_GovernmentDebtSecuritiesPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GovernmentDebtSecuritiesPercentage_lbl" xml:lang="en-US" id="id_14036987_3526532_3_1">Government debt securities percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GovernmentDebtSecuritiesPercentage_lbl" xml:lang="en-US" id="id_14036987_3526532_1_1">Government Debt Securities Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GovernmentDebtSecuritiesPercentage_lbl" xml:lang="en-US" id="id_14036987_3526532_2_1">Government debt securities as a per cent of total debt securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GovernmentDebtSecuritiesPercentage" xlink:to="mfc_GovernmentDebtSecuritiesPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GovernmentOfCanadaBondsMember" xlink:label="mfc_GovernmentOfCanadaBondsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GovernmentOfCanadaBondsMember_lbl" xml:lang="en-US" id="id_14036987_3479848_3_1">Government of Canada bonds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GovernmentOfCanadaBondsMember_lbl" xml:lang="en-US" id="id_14036987_3479848_1_1">Government of Canada bonds [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GovernmentOfCanadaBondsMember_lbl" xml:lang="en-US" id="id_14036987_3479848_2_1">Government of Canada bonds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GovernmentOfCanadaBondsMember" xlink:to="mfc_GovernmentOfCanadaBondsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GovernmentPrivatePlacementsPercentage" xlink:label="mfc_GovernmentPrivatePlacementsPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GovernmentPrivatePlacementsPercentage_lbl" xml:lang="en-US" id="id_14036987_3526533_3_1">Government private placements percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GovernmentPrivatePlacementsPercentage_lbl" xml:lang="en-US" id="id_14036987_3526533_1_1">Government Private Placements Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GovernmentPrivatePlacementsPercentage_lbl" xml:lang="en-US" id="id_14036987_3526533_2_1">Government private placements as a per cent of total private placements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GovernmentPrivatePlacementsPercentage" xlink:to="mfc_GovernmentPrivatePlacementsPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossAmountArisingFromInsuranceContractsMember" xlink:label="ifrs-full_GrossAmountArisingFromInsuranceContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossAmountArisingFromInsuranceContractsMember_lbl" xml:lang="en-US" id="id_14036987_3420384_1_1">Gross amount arising from insurance contracts [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GrossAmountArisingFromInsuranceContractsMember_lbl" xml:lang="en-US" id="id_14036987_3420384_2_1">Gross insurance contract liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossAmountArisingFromInsuranceContractsMember" xlink:to="ifrs-full_GrossAmountArisingFromInsuranceContractsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GrossBenefitsPayableAndProvisionForUnreportedClaims" xlink:label="mfc_GrossBenefitsPayableAndProvisionForUnreportedClaims"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GrossBenefitsPayableAndProvisionForUnreportedClaims_lbl" xml:lang="en-US" id="id_14036987_3446518_3_1">The amount of gross benefits payable and provision related to insurance contracts (amounts currently due to and from agents, brokers and policyholders related to insurance contracts).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GrossBenefitsPayableAndProvisionForUnreportedClaims_lbl" xml:lang="en-US" id="id_14036987_3446518_1_1">Gross benefits payable and provision for unreported claims</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GrossBenefitsPayableAndProvisionForUnreportedClaims_lbl" xml:lang="en-US" id="id_14036987_3446518_2_1">Gross benefits payable and provision for unreported claims</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GrossBenefitsPayableAndProvisionForUnreportedClaims" xlink:to="mfc_GrossBenefitsPayableAndProvisionForUnreportedClaims_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="ifrs-full_GrossCarryingAmountMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossCarryingAmountMember_lbl" xml:lang="en-US" id="id_14036987_3420576_1_1">Gross carrying amount [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GrossCarryingAmountMember_lbl" xml:lang="en-US" id="id_14036987_3420576_2_1">Gross Carrying Value [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossCarryingAmountMember" xlink:to="ifrs-full_GrossCarryingAmountMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements" xlink:label="ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3420800_1_1">Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3420800_2_1">Gross amounts of financial instruments presented in the Consolidated Statements of Financial Position</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3420800_12_1">Loaned securities included in invested assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements" xlink:to="ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements" xlink:label="ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3420387_1_1">Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3420387_2_1">Gross amounts of financial instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3420387_14_1">Gross amounts of financial instruments presented in the Consolidated Statements of Financial Position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements" xlink:to="ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GrossInsuranceContractLiabilities" xlink:label="mfc_GrossInsuranceContractLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GrossInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446517_3_1">The amount of gross liabilities under insurance contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GrossInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446517_1_1">Gross insurance contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GrossInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446517_2_1">Gross insurance contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GrossInsuranceContractLiabilities" xlink:to="mfc_GrossInsuranceContractLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GrossPolicyholderAmountsOnDeposit" xlink:label="mfc_GrossPolicyholderAmountsOnDeposit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GrossPolicyholderAmountsOnDeposit_lbl" xml:lang="en-US" id="id_14036987_3446519_3_1">The amount of gross policyholder amounts on deposit reported by policyholders as the result of the occurrence of insured events. [Refer: Insurance contracts [member]]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GrossPolicyholderAmountsOnDeposit_lbl" xml:lang="en-US" id="id_14036987_3446519_1_1">Gross policyholder amounts on deposit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GrossPolicyholderAmountsOnDeposit_lbl" xml:lang="en-US" id="id_14036987_3446519_2_1">Gross policyholder amounts on deposit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GrossPolicyholderAmountsOnDeposit" xlink:to="mfc_GrossPolicyholderAmountsOnDeposit_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GrossReinsuranceAmountAtRisk" xlink:label="mfc_GrossReinsuranceAmountAtRisk"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GrossReinsuranceAmountAtRisk_lbl" xml:lang="en-US" id="id_14036987_3458470_3_1">Gross reinsurance amount at risk.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GrossReinsuranceAmountAtRisk_lbl" xml:lang="en-US" id="id_14036987_3458470_1_1">Gross reinsurance Amount at risk</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GrossReinsuranceAmountAtRisk_lbl" xml:lang="en-US" id="id_14036987_3458470_2_1">Total gross of reinsurance, Amount at risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GrossReinsuranceAmountAtRisk" xlink:to="mfc_GrossReinsuranceAmountAtRisk_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GrossReinsuranceFundValue" xlink:label="mfc_GrossReinsuranceFundValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GrossReinsuranceFundValue_lbl" xml:lang="en-US" id="id_14036987_3458469_3_1">Gross reinsurance fund value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GrossReinsuranceFundValue_lbl" xml:lang="en-US" id="id_14036987_3458469_1_1">Gross reinsurance Fund value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GrossReinsuranceFundValue_lbl" xml:lang="en-US" id="id_14036987_3458469_2_1">Total gross of reinsurance, Fund value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GrossReinsuranceFundValue" xlink:to="mfc_GrossReinsuranceFundValue_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GrossReinsuranceGuaranteeValue" xlink:label="mfc_GrossReinsuranceGuaranteeValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GrossReinsuranceGuaranteeValue_lbl" xml:lang="en-US" id="id_14036987_3458468_3_1">Gross reinsurance guarantee value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GrossReinsuranceGuaranteeValue_lbl" xml:lang="en-US" id="id_14036987_3458468_1_1">Gross reinsurance Guarantee value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GrossReinsuranceGuaranteeValue_lbl" xml:lang="en-US" id="id_14036987_3458468_2_1">Total gross of reinsurance, Guarantee value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GrossReinsuranceGuaranteeValue" xlink:to="mfc_GrossReinsuranceGuaranteeValue_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GuaranteedMinimumAccumulationBenefit1Member" xlink:label="mfc_GuaranteedMinimumAccumulationBenefit1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GuaranteedMinimumAccumulationBenefit1Member_lbl" xml:lang="en-US" id="id_14036987_3492583_3_1">Guaranteed minimum accumulation benefit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GuaranteedMinimumAccumulationBenefit1Member_lbl" xml:lang="en-US" id="id_14036987_3492583_1_1">Guaranteed Minimum Accumulation Benefit 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GuaranteedMinimumAccumulationBenefit1Member_lbl" xml:lang="en-US" id="id_14036987_3492583_2_1">Guaranteed Minimum Accumulation Benefit 1 [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GuaranteedMinimumAccumulationBenefit1Member" xlink:to="mfc_GuaranteedMinimumAccumulationBenefit1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GuaranteedMinimumIncomeBenefit1Member" xlink:label="mfc_GuaranteedMinimumIncomeBenefit1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GuaranteedMinimumIncomeBenefit1Member_lbl" xml:lang="en-US" id="id_14036987_3497865_3_1">Guaranteed minimum income benefit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GuaranteedMinimumIncomeBenefit1Member_lbl" xml:lang="en-US" id="id_14036987_3497865_1_1">Guaranteed Minimum Income Benefit 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GuaranteedMinimumIncomeBenefit1Member_lbl" xml:lang="en-US" id="id_14036987_3497865_2_1">Guaranteed minimum income benefit [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GuaranteedMinimumIncomeBenefit1Member" xlink:to="mfc_GuaranteedMinimumIncomeBenefit1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GuaranteedMinimumWithdrawalBenefit1Member" xlink:label="mfc_GuaranteedMinimumWithdrawalBenefit1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GuaranteedMinimumWithdrawalBenefit1Member_lbl" xml:lang="en-US" id="id_14036987_3497863_3_1">Guaranteed minimum withdrawal benefit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GuaranteedMinimumWithdrawalBenefit1Member_lbl" xml:lang="en-US" id="id_14036987_3497863_1_1">Guaranteed Minimum Withdrawal Benefit 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GuaranteedMinimumWithdrawalBenefit1Member_lbl" xml:lang="en-US" id="id_14036987_3497863_2_1">Guaranteed minimum withdrawal benefit [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GuaranteedMinimumWithdrawalBenefit1Member" xlink:to="mfc_GuaranteedMinimumWithdrawalBenefit1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_GuaranteedPaymentOfAmountsOnSubordinatedDebenture" xlink:label="mfc_GuaranteedPaymentOfAmountsOnSubordinatedDebenture"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_GuaranteedPaymentOfAmountsOnSubordinatedDebenture_lbl" xml:lang="en-US" id="id_14036987_3453784_3_1">Guaranteed payment of amounts on subordinated debenture.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_GuaranteedPaymentOfAmountsOnSubordinatedDebenture_lbl" xml:lang="en-US" id="id_14036987_3453784_1_1">Guaranteed payment of amounts on subordinated debenture</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_GuaranteedPaymentOfAmountsOnSubordinatedDebenture_lbl" xml:lang="en-US" id="id_14036987_3453784_2_1">Guaranteed payment of amounts on subordinated debenture</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_GuaranteedPaymentOfAmountsOnSubordinatedDebenture" xlink:to="mfc_GuaranteedPaymentOfAmountsOnSubordinatedDebenture_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_HancockNaturalResourceGroupIncMember" xlink:label="mfc_HancockNaturalResourceGroupIncMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_HancockNaturalResourceGroupIncMember_lbl" xml:lang="en-US" id="id_14036987_3479716_3_1">Hancock Natural Resource Group, Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_HancockNaturalResourceGroupIncMember_lbl" xml:lang="en-US" id="id_14036987_3479716_1_1">Hancock Natural Resource Group Inc [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_HancockNaturalResourceGroupIncMember_lbl" xml:lang="en-US" id="id_14036987_3479716_2_1">Hancock Natural Resource Group, Inc. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_HancockNaturalResourceGroupIncMember" xlink:to="mfc_HancockNaturalResourceGroupIncMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_HancockUsRealEstateFundLpMember" xlink:label="mfc_HancockUsRealEstateFundLpMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_HancockUsRealEstateFundLpMember_lbl" xml:lang="en-US" id="id_14036987_3494894_3_1">Hancock Us Real Estate Fund Lp [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_HancockUsRealEstateFundLpMember_lbl" xml:lang="en-US" id="id_14036987_3494894_1_1">Hancock Us Real Estate Fund Lp [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_HancockUsRealEstateFundLpMember_lbl" xml:lang="en-US" id="id_14036987_3494894_2_1">Hancock Us Real Estate Fund Lp [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_HancockUsRealEstateFundLpMember" xlink:to="mfc_HancockUsRealEstateFundLpMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_HancockVictoriaPlantationsHoldingsPTYLimitedMember" xlink:label="mfc_HancockVictoriaPlantationsHoldingsPTYLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_HancockVictoriaPlantationsHoldingsPTYLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3480146_3_1">Hancock Victoria plantations holdings PTY limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_HancockVictoriaPlantationsHoldingsPTYLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3480146_1_1">Hancock Victoria Plantations Holdings PTY Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_HancockVictoriaPlantationsHoldingsPTYLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3480146_2_1">Hancock Victoria Plantations Holdings PTY Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_HancockVictoriaPlantationsHoldingsPTYLimitedMember" xlink:to="mfc_HancockVictoriaPlantationsHoldingsPTYLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HedgedItemsAxis" xlink:label="ifrs-full_HedgedItemsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_HedgedItemsAxis_lbl" xml:lang="en-US" id="id_14036987_3420398_1_1">Hedged items [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_HedgedItemsAxis_lbl" xml:lang="en-US" id="id_14036987_3420398_2_1">Hedged items [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_HedgedItemsAxis" xlink:to="ifrs-full_HedgedItemsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HedgedItemsMember" xlink:label="ifrs-full_HedgedItemsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_HedgedItemsMember_lbl" xml:lang="en-US" id="id_14036987_3420181_1_1">Hedged items [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_HedgedItemsMember_lbl" xml:lang="en-US" id="id_14036987_3420181_2_1">Hedged items [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_HedgedItemsMember" xlink:to="ifrs-full_HedgedItemsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember" xlink:label="ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember_lbl" xml:lang="en-US" id="id_14036987_3420590_1_1">Hedges of net investment in foreign operations [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember_lbl" xml:lang="en-US" id="id_14036987_3420590_2_1">Hedges of net investment in foreign operations [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember" xlink:to="ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="ifrs-full_HedgingInstrumentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_HedgingInstrumentsAxis_lbl" xml:lang="en-US" id="id_14036987_3420184_1_1">Hedging instruments [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_HedgingInstrumentsAxis_lbl" xml:lang="en-US" id="id_14036987_3420184_2_1">Hedging instruments [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_HedgingInstrumentsMember_lbl" xml:lang="en-US" id="id_14036987_3420592_1_1">Hedging instruments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_HedgingInstrumentsMember_lbl" xml:lang="en-US" id="id_14036987_3420592_2_1">Hedging instruments [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ifrs-full_HedgingInstrumentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_HELOCSecuritizationMember" xlink:label="mfc_HELOCSecuritizationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_HELOCSecuritizationMember_lbl" xml:lang="en-US" id="id_14036987_3480102_3_1">HELOC securitization.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_HELOCSecuritizationMember_lbl" xml:lang="en-US" id="id_14036987_3480102_1_1">HELOC securitization [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_HELOCSecuritizationMember_lbl" xml:lang="en-US" id="id_14036987_3480102_2_1">HELOC securitization [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_HELOCSecuritizationMember" xlink:to="mfc_HELOCSecuritizationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_HydroelectricPowerMember" xlink:label="mfc_HydroelectricPowerMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_HydroelectricPowerMember_lbl" xml:lang="en-US" id="id_14036987_3536684_3_1">Hydroelectric power.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_HydroelectricPowerMember_lbl" xml:lang="en-US" id="id_14036987_3536684_1_1">Hydroelectric Power [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_HydroelectricPowerMember_lbl" xml:lang="en-US" id="id_14036987_3536684_2_1">Hydroelectric Power [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_HydroelectricPowerMember" xlink:to="mfc_HydroelectricPowerMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IfRedeemedAfterJuneNineteenTwentyTwoOneMember" xlink:label="mfc_IfRedeemedAfterJuneNineteenTwentyTwoOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IfRedeemedAfterJuneNineteenTwentyTwoOneMember_lbl" xml:lang="en-US" id="id_14036987_3479566_3_1">If redeemed after June 19, 2021.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IfRedeemedAfterJuneNineteenTwentyTwoOneMember_lbl" xml:lang="en-US" id="id_14036987_3479566_1_1">If redeemed after June nineteen twenty two one [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IfRedeemedAfterJuneNineteenTwentyTwoOneMember_lbl" xml:lang="en-US" id="id_14036987_3479566_2_1">If redeemed after June 19, 2021 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IfRedeemedAfterJuneNineteenTwentyTwoOneMember" xlink:to="mfc_IfRedeemedAfterJuneNineteenTwentyTwoOneMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IfRedeemedOnJuneNineteenTwentyTwoOneMember" xlink:label="mfc_IfRedeemedOnJuneNineteenTwentyTwoOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IfRedeemedOnJuneNineteenTwentyTwoOneMember_lbl" xml:lang="en-US" id="id_14036987_3479565_3_1">If redeemed on June 19, 2021.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IfRedeemedOnJuneNineteenTwentyTwoOneMember_lbl" xml:lang="en-US" id="id_14036987_3479565_1_1">If redeemed on June nineteen twenty two one [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IfRedeemedOnJuneNineteenTwentyTwoOneMember_lbl" xml:lang="en-US" id="id_14036987_3479565_2_1">If redeemed on June 19, 2021 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IfRedeemedOnJuneNineteenTwentyTwoOneMember" xlink:to="mfc_IfRedeemedOnJuneNineteenTwentyTwoOneMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ImpactOfAnnuityCoinsuranceTransactions" xlink:label="mfc_ImpactOfAnnuityCoinsuranceTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ImpactOfAnnuityCoinsuranceTransactions_lbl" xml:lang="en-US" id="id_14036987_3541958_3_1">Impact of annuity coinsurance transactions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ImpactOfAnnuityCoinsuranceTransactions_lbl" xml:lang="en-US" id="id_14036987_3541958_1_1">Impact of annuity coinsurance transactions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ImpactOfAnnuityCoinsuranceTransactions_lbl" xml:lang="en-US" id="id_14036987_3541958_2_1">Impact of annuity coinsurance transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ImpactOfAnnuityCoinsuranceTransactions" xlink:to="mfc_ImpactOfAnnuityCoinsuranceTransactions_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ImpactOfDynamicHedgingAndMacroEquityRiskAssets" xlink:label="mfc_ImpactOfDynamicHedgingAndMacroEquityRiskAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ImpactOfDynamicHedgingAndMacroEquityRiskAssets_lbl" xml:lang="en-US" id="id_14036987_3453490_3_1">Impact of dynamic hedging and macro equity risk assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ImpactOfDynamicHedgingAndMacroEquityRiskAssets_lbl" xml:lang="en-US" id="id_14036987_3453490_1_1">Impact of dynamic hedging and macro equity risk assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_ImpactOfDynamicHedgingAndMacroEquityRiskAssets_lbl" xml:lang="en-US" id="id_14036987_3453490_14_1">Impact of macro and dynamic hedge assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ImpactOfDynamicHedgingAndMacroEquityRiskAssets" xlink:to="mfc_ImpactOfDynamicHedgingAndMacroEquityRiskAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ImpactOfUnderlyingSensitivityBeforeHedging" xlink:label="mfc_ImpactOfUnderlyingSensitivityBeforeHedging"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ImpactOfUnderlyingSensitivityBeforeHedging_lbl" xml:lang="en-US" id="id_14036987_3453489_3_1">Impact of underlying sensitivity before hedging.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ImpactOfUnderlyingSensitivityBeforeHedging_lbl" xml:lang="en-US" id="id_14036987_3453489_1_1">Impact of underlying sensitivity before hedging</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_ImpactOfUnderlyingSensitivityBeforeHedging_lbl" xml:lang="en-US" id="id_14036987_3453489_6_1">Total underlying sensitivity before hedging</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ImpactOfUnderlyingSensitivityBeforeHedging" xlink:to="mfc_ImpactOfUnderlyingSensitivityBeforeHedging_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ImpactOfVariableAnnuityGuaranteeDynamicAndMacroEquityRiskHedging" xlink:label="mfc_ImpactOfVariableAnnuityGuaranteeDynamicAndMacroEquityRiskHedging"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ImpactOfVariableAnnuityGuaranteeDynamicAndMacroEquityRiskHedging_lbl" xml:lang="en-US" id="id_14036987_3453482_3_1">Impact of variable annuity guarantee dynamic and macro equity risk hedging.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ImpactOfVariableAnnuityGuaranteeDynamicAndMacroEquityRiskHedging_lbl" xml:lang="en-US" id="id_14036987_3453482_1_1">Impact of variable annuity guarantee dynamic and macro equity risk hedging</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ImpactOfVariableAnnuityGuaranteeDynamicAndMacroEquityRiskHedging_lbl" xml:lang="en-US" id="id_14036987_3453482_2_1">Variable annuity guarantees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ImpactOfVariableAnnuityGuaranteeDynamicAndMacroEquityRiskHedging" xlink:to="mfc_ImpactOfVariableAnnuityGuaranteeDynamicAndMacroEquityRiskHedging_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ImpactOnAssetBasedFees" xlink:label="mfc_ImpactOnAssetBasedFees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ImpactOnAssetBasedFees_lbl" xml:lang="en-US" id="id_14036987_3453492_3_1">Impact on asset based fees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ImpactOnAssetBasedFees_lbl" xml:lang="en-US" id="id_14036987_3453492_1_1">Impact on asset based fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_ImpactOnAssetBasedFees_lbl" xml:lang="en-US" id="id_14036987_3453492_14_1">Asset based fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ImpactOnAssetBasedFees" xlink:to="mfc_ImpactOnAssetBasedFees_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ImpactOnEquityInvestmentsHeldInGeneralFund" xlink:label="mfc_ImpactOnEquityInvestmentsHeldInGeneralFund"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ImpactOnEquityInvestmentsHeldInGeneralFund_lbl" xml:lang="en-US" id="id_14036987_3451658_3_1">Impact on equity investments held in the general fund.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ImpactOnEquityInvestmentsHeldInGeneralFund_lbl" xml:lang="en-US" id="id_14036987_3451658_1_1">Impact on equity investments held in general fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_ImpactOnEquityInvestmentsHeldInGeneralFund_lbl" xml:lang="en-US" id="id_14036987_3451658_14_1">General fund equity investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ImpactOnEquityInvestmentsHeldInGeneralFund" xlink:to="mfc_ImpactOnEquityInvestmentsHeldInGeneralFund_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossOnFinancialAssets" xlink:label="ifrs-full_ImpairmentLossOnFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ImpairmentLossOnFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3420428_1_1">Impairment loss on financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ImpairmentLossOnFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3420428_2_1">Impairment loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossOnFinancialAssets" xlink:to="ifrs-full_ImpairmentLossOnFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl" xml:lang="en-US" id="id_14036987_3420207_1_1">Impairment loss recognised in profit or loss, goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl" xml:lang="en-US" id="id_14036987_3420207_2_1">Impairment loss recognised in profit or loss good will</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" id="id_14036987_3420616_1_1">Impairment loss recognised in profit or loss, intangible assets other than goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" id="id_14036987_3420616_2_1">Impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentOfFinancialAssetsAxis" xlink:label="ifrs-full_ImpairmentOfFinancialAssetsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ImpairmentOfFinancialAssetsAxis_lbl" xml:lang="en-US" id="id_14036987_3420436_1_1">Impairment of financial assets [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ImpairmentOfFinancialAssetsAxis_lbl" xml:lang="en-US" id="id_14036987_3420436_2_1">Impairment of financial assets [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentOfFinancialAssetsAxis" xlink:to="ifrs-full_ImpairmentOfFinancialAssetsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ImpairmentsProvisionsAndRecoveriesNetMember" xlink:label="mfc_ImpairmentsProvisionsAndRecoveriesNetMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ImpairmentsProvisionsAndRecoveriesNetMember_lbl" xml:lang="en-US" id="id_14036987_3495069_3_1">Impairments, provisions and recoveries, net.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ImpairmentsProvisionsAndRecoveriesNetMember_lbl" xml:lang="en-US" id="id_14036987_3495069_1_1">Impairments, provisions and recoveries, net [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ImpairmentsProvisionsAndRecoveriesNetMember_lbl" xml:lang="en-US" id="id_14036987_3495069_2_1">Impairments, provisions and recoveries, net [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ImpairmentsProvisionsAndRecoveriesNetMember" xlink:to="mfc_ImpairmentsProvisionsAndRecoveriesNetMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InactiveAndRetiredMembersMember" xlink:label="mfc_InactiveAndRetiredMembersMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InactiveAndRetiredMembersMember_lbl" xml:lang="en-US" id="id_14036987_3480175_3_1">Inactive and retired members.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InactiveAndRetiredMembersMember_lbl" xml:lang="en-US" id="id_14036987_3480175_1_1">Inactive and retired members [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InactiveAndRetiredMembersMember_lbl" xml:lang="en-US" id="id_14036987_3480175_2_1">Inactive and retired members [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InactiveAndRetiredMembersMember" xlink:to="mfc_InactiveAndRetiredMembersMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xlink:label="ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources_lbl" xml:lang="en-US" id="id_14036987_3420621_1_1">Income arising from exploration for and evaluation of mineral resources</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources_lbl" xml:lang="en-US" id="id_14036987_3420621_2_1">Oil and gas, timber, agriculture and other income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xlink:to="ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeArisingFromInsuranceContracts" xlink:label="ifrs-full_IncomeArisingFromInsuranceContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3420441_1_1">Income arising from insurance contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3420441_2_1">Gross premiums</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeArisingFromInsuranceContracts" xlink:to="ifrs-full_IncomeArisingFromInsuranceContracts_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncomeProducingCommercialOfficeProperties" xlink:label="mfc_IncomeProducingCommercialOfficeProperties"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncomeProducingCommercialOfficeProperties_lbl" xml:lang="en-US" id="id_14036987_3453759_3_1">Income producing commercial office properties.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncomeProducingCommercialOfficeProperties_lbl" xml:lang="en-US" id="id_14036987_3453759_1_1">Income Producing Commercial Office Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncomeProducingCommercialOfficeProperties_lbl" xml:lang="en-US" id="id_14036987_3453759_2_1">Income producing commercial office properties (2018 - 55% of real estate, 2017 - 64%)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncomeProducingCommercialOfficeProperties" xlink:to="mfc_IncomeProducingCommercialOfficeProperties_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncomeProducingCommercialOfficePropertiesPercentage" xlink:label="mfc_IncomeProducingCommercialOfficePropertiesPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncomeProducingCommercialOfficePropertiesPercentage_lbl" xml:lang="en-US" id="id_14036987_3526529_3_1">Income producing commercial office properties percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncomeProducingCommercialOfficePropertiesPercentage_lbl" xml:lang="en-US" id="id_14036987_3526529_1_1">Income Producing Commercial Office Properties Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncomeProducingCommercialOfficePropertiesPercentage_lbl" xml:lang="en-US" id="id_14036987_3526529_2_1">Income producing commercial office properties, percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncomeProducingCommercialOfficePropertiesPercentage" xlink:to="mfc_IncomeProducingCommercialOfficePropertiesPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeStatementAbstract" xlink:label="ifrs-full_IncomeStatementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeStatementAbstract_lbl" xml:lang="en-US" id="id_14036987_3420627_1_1">Profit or loss [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeStatementAbstract_lbl" xml:lang="en-US" id="id_14036987_3420627_2_1">Profit or loss [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeStatementAbstract" xlink:to="ifrs-full_IncomeStatementAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncomeStatementLocation1Member" xlink:label="mfc_IncomeStatementLocation1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncomeStatementLocation1Member_lbl" xml:lang="en-US" id="id_14036987_3494865_3_1">Income Statement Location1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncomeStatementLocation1Member_lbl" xml:lang="en-US" id="id_14036987_3494865_1_1">Income Statement Location1 [member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3420449_1_1">Income tax relating to cash flow hedges included in other comprehensive income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3420449_2_1">Unrealized gains/losses on cash flow hedges</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3420861_2_1">Real estate revaluation reserve</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3420862_1_1">Income tax relating to components of other comprehensive income</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeAbstract" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3420221_2_1">Unrealized foreign exchange gains/losses on net investment hedges</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncomeTaxRelatingToReclassificationAdjustmentOnAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome" xlink:label="mfc_IncomeTaxRelatingToReclassificationAdjustmentOnAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncomeTaxRelatingToReclassificationAdjustmentOnAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3453709_3_1">Income tax relating to reclassification adjustment on available-for-sale financial assets of other comprehensive income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncomeTaxRelatingToReclassificationAdjustmentOnAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3453709_1_1">Income tax relating to reclassification adjustment on available-for-sale financial assets of other comprehensive income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncomeTaxRelatingToReclassificationAdjustmentOnAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3453709_2_1">Reclassification of realized gains/losses and recoveries/impairments to net income on available-for-sale financial securities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncomeTaxRelatingToReclassificationAdjustmentsOnCashFlowHedgesOfOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3449005_3_1">Income tax relating to reclassification adjustments on cash flow hedges of other comprehensive income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncomeTaxRelatingToReclassificationAdjustmentsOnCashFlowHedgesOfOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3449005_1_1">Income tax relating to reclassification adjustments on cash flow hedges of other comprehensive income</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_lbl" xml:lang="en-US" id="id_14036987_3420461_1_1">Increase (decrease) in cash and cash equivalents before effect of exchange rate changes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_lbl" xml:lang="en-US" id="id_14036987_3420461_2_1">Increase (decrease) during the year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_lbl" xml:lang="en-US" id="id_14036987_3420461_6_1">Increase (decrease) during the year</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInEquityMarketValuesNetIncomeImpact_lbl" xml:lang="en-US" id="id_14036987_3467501_2_1">Potential impact on net income attributed to shareholders arising from changes to spreads</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInIncomeTaxesAbstract" xlink:label="mfc_IncreaseDecreaseInIncomeTaxesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInIncomeTaxesAbstract_lbl" xml:lang="en-US" id="id_14036987_3431474_3_1">Increase decrease in income taxes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInIncomeTaxesAbstract_lbl" xml:lang="en-US" id="id_14036987_3431474_1_1">Increase decrease in income taxes [abstract]</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInsuranceContractLiabilities" xlink:label="mfc_IncreaseDecreaseInInsuranceContractLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446810_3_1">Increase (decrease) in insurance contract liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446810_1_1">Increase (decrease) in insurance contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446810_2_1">Increase in insurance contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInsuranceContractLiabilities" xlink:to="mfc_IncreaseDecreaseInInsuranceContractLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance" xlink:label="ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance_lbl" xml:lang="en-US" id="id_14036987_3420473_1_1">Increase (decrease) in insurance liabilities, net of reinsurance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance_lbl" xml:lang="en-US" id="id_14036987_3420473_2_1">Change in insurance and investment contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance_lbl" xml:lang="en-US" id="id_14036987_3420473_6_1">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance" xlink:to="ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToPolicyholdersAccount" xlink:label="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToPolicyholdersAccount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToPolicyholdersAccount_lbl" xml:lang="en-US" id="id_14036987_3536711_3_1">Increase Decrease In Insurance Liabilities Net Of Reinsurance Attributed to policyholders account.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToPolicyholdersAccount_lbl" xml:lang="en-US" id="id_14036987_3536711_1_1">Increase Decrease In Insurance Liabilities Net Of Reinsurance Attributed to policyholders account</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToPolicyholdersAccount_lbl" xml:lang="en-US" id="id_14036987_3536711_2_1">Attributed to participating policyholders' account</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToPolicyholdersAccount" xlink:to="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToPolicyholdersAccount_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToShareholdersAccount" xlink:label="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToShareholdersAccount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToShareholdersAccount_lbl" xml:lang="en-US" id="id_14036987_3536713_3_1">Increase Decrease In Insurance Liabilities Net Of Reinsurance Attributed to shareholders account.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToShareholdersAccount_lbl" xml:lang="en-US" id="id_14036987_3536713_1_1">Increase Decrease In Insurance Liabilities Net Of Reinsurance Attributed to shareholders account</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToShareholdersAccount_lbl" xml:lang="en-US" id="id_14036987_3536713_2_1">Attributed to shareholders'account</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToShareholdersAccount" xlink:to="mfc_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsuranceAttributedToShareholdersAccount_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInuranceContractLiabilities" xlink:label="mfc_IncreaseDecreaseInInuranceContractLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3453750_3_1">Increase decrease in inurance contract liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3453750_1_1">Increase Decrease In Inurance Contract Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3453750_2_1">Increase (decrease) in insurance contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_IncreaseDecreaseInInuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3453750_12_1">Increase in insurance contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInuranceContractLiabilities" xlink:to="mfc_IncreaseDecreaseInInuranceContractLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInvestmentContractLiabilities" xlink:label="mfc_IncreaseDecreaseInInvestmentContractLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInvestmentContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3444457_3_1">Increase decrease in investment contract liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInvestmentContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3444457_1_1">Increase Decrease in Investment Contract Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3444457_2_1">Increase (decrease) in investment contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3444457_12_1">Increase in investment contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInvestmentContractLiabilities" xlink:to="mfc_IncreaseDecreaseInInvestmentContractLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToChangesInMarketConditions" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToChangesInMarketConditions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToChangesInMarketConditions_lbl" xml:lang="en-US" id="id_14036987_3446494_3_1">Increase decrease in Investment contracts liabilities due to changes in market conditions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToChangesInMarketConditions_lbl" xml:lang="en-US" id="id_14036987_3446494_1_1">Increase decrease in investment contracts liabilities due to changes in market conditions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToChangesInMarketConditions_lbl" xml:lang="en-US" id="id_14036987_3446494_2_1">Changes in market conditions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToChangesInMarketConditions" xlink:to="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToChangesInMarketConditions_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToFees" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToFees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToFees_lbl" xml:lang="en-US" id="id_14036987_3441294_3_1">Increase Decrease In Investment Contracts Liabilities Due To Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToFees_lbl" xml:lang="en-US" id="id_14036987_3441294_1_1">Increase Decrease In Investment Contracts Liabilities Due To Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToFees_lbl" xml:lang="en-US" id="id_14036987_3441294_14_1">Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToFees" xlink:to="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToFees_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToImpactOfChangesInForeignExchangeRates" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToImpactOfChangesInForeignExchangeRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToImpactOfChangesInForeignExchangeRates_lbl" xml:lang="en-US" id="id_14036987_3446496_3_1">Increase decrease in investment contracts liabilities due to impact of changes in foreign exchange rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToImpactOfChangesInForeignExchangeRates_lbl" xml:lang="en-US" id="id_14036987_3446496_1_1">Increase decrease in investment contracts liabilities due to impact of changes in foreign exchange rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToImpactOfChangesInForeignExchangeRates_lbl" xml:lang="en-US" id="id_14036987_3446496_2_1">Impact of changes in foreign exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToImpactOfChangesInForeignExchangeRates" xlink:to="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToImpactOfChangesInForeignExchangeRates_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToNewPolicies" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToNewPolicies"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToNewPolicies_lbl" xml:lang="en-US" id="id_14036987_3446493_3_1">Increase decrease in Investment contracts liabilities due to new policies.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToNewPolicies_lbl" xml:lang="en-US" id="id_14036987_3446493_1_1">Increase decrease in investment contracts liabilities due to new policies</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToNewPolicies_lbl" xml:lang="en-US" id="id_14036987_3446493_2_1">New policies</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToNewPolicies_lbl" xml:lang="en-US" id="id_14036987_3446493_12_1">Policy deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToNewPolicies" xlink:to="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToNewPolicies_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToOtherActivities" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToOtherActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToOtherActivities_lbl" xml:lang="en-US" id="id_14036987_3441295_3_1">Increase Decrease In Investment Contracts Liabilities Due To Other Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToOtherActivities_lbl" xml:lang="en-US" id="id_14036987_3441295_1_1">Increase Decrease In Investment Contracts Liabilities Due To Other Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToOtherActivities_lbl" xml:lang="en-US" id="id_14036987_3441295_2_1">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToOtherActivities" xlink:to="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToOtherActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToRedemptionsSurrendersAndMaturities" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToRedemptionsSurrendersAndMaturities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToRedemptionsSurrendersAndMaturities_lbl" xml:lang="en-US" id="id_14036987_3446495_3_1">Increase decrease in Investment contracts liabilities due to redemptions, surrenders and maturities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToRedemptionsSurrendersAndMaturities_lbl" xml:lang="en-US" id="id_14036987_3446495_1_1">Increase decrease in investment contracts liabilities due to redemptions, surrenders and maturities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToRedemptionsSurrendersAndMaturities_lbl" xml:lang="en-US" id="id_14036987_3446495_2_1">Redemptions, surrenders and maturities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToRedemptionsSurrendersAndMaturities" xlink:to="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToRedemptionsSurrendersAndMaturities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToWithdrawals" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToWithdrawals"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToWithdrawals_lbl" xml:lang="en-US" id="id_14036987_3441291_3_1">Increase Decrease In Investment Contracts Liabilities Due To Withdrawals</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToWithdrawals_lbl" xml:lang="en-US" id="id_14036987_3441291_1_1">Increase Decrease In Investment Contracts Liabilities Due To Withdrawals</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToWithdrawals_lbl" xml:lang="en-US" id="id_14036987_3441291_14_1">Withdrawals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToWithdrawals" xlink:to="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesDueToWithdrawals_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesMeasuredDueToInterest" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesMeasuredDueToInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesMeasuredDueToInterest_lbl" xml:lang="en-US" id="id_14036987_3441293_3_1">Increase Decrease In Investment Contracts Liabilities Measured Due To Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesMeasuredDueToInterest_lbl" xml:lang="en-US" id="id_14036987_3441293_1_1">Increase Decrease In Investment Contracts Liabilities Measured Due To Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesMeasuredDueToInterest_lbl" xml:lang="en-US" id="id_14036987_3441293_2_1">Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesMeasuredDueToInterest" xlink:to="mfc_IncreaseDecreaseInInvestmentContractsLiabilitiesMeasuredDueToInterest_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInNetIncomeAttributableToShareholders" xlink:label="mfc_IncreaseDecreaseInNetIncomeAttributableToShareholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseInNetIncomeAttributableToShareholders_lbl" xml:lang="en-US" id="id_14036987_3446683_3_1">Increase (decrease) in net income attributable to shareholders.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInNetIncomeAttributableToShareholders_lbl" xml:lang="en-US" id="id_14036987_3446683_2_1">Sensitivity of our net income attributed to shareholders due to change in interest rate</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax" xlink:label="mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax_lbl" xml:lang="en-US" id="id_14036987_3446823_2_1">Change in net income attributed to shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax_lbl" xml:lang="en-US" id="id_14036987_3446823_12_1">Change in net income attributed to shareholders (post-tax)</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:label="ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding_lbl" xml:lang="en-US" id="id_14036987_3420476_1_1">Increase (decrease) in number of shares outstanding</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInReinsuranceAssets" xlink:label="ifrs-full_IncreaseDecreaseInReinsuranceAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3420646_1_1">Increase (decrease) in reinsurance assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_IncreaseDecreaseInReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3420646_32_1">Increase of reinsurance assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseInReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3420646_2_1">(Increase) decrease in reinsurance assets excluding coinsurance transactions (note 7)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IncreaseDecreaseInReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3420646_12_1">Decrease (increase) in reinsurance assets (note 7)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInReinsuranceAssets" xlink:to="ifrs-full_IncreaseDecreaseInReinsuranceAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3420894_1_1">Increase (decrease) through changes in foreign exchange rates, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3420894_2_1">Impact of changes in foreign exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_lbl" xml:lang="en-US" id="id_14036987_3420656_1_1">Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_lbl" xml:lang="en-US" id="id_14036987_3420656_2_1">Acquisition of non-controlling interest</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseThroughDividendReinvestmentAndSharePurchasePlan" xlink:label="mfc_IncreaseDecreaseThroughDividendReinvestmentAndSharePurchasePlan"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseThroughDividendReinvestmentAndSharePurchasePlan_lbl" xml:lang="en-US" id="id_14036987_3444439_3_1">Increase Decrease Through Dividend Reinvestment and Share Purchase Plan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseThroughDividendReinvestmentAndSharePurchasePlan_lbl" xml:lang="en-US" id="id_14036987_3444439_1_1">Increase Decrease Through Dividend Reinvestment and Share Purchase Plan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_IncreaseDecreaseThroughDividendReinvestmentAndSharePurchasePlan_lbl" xml:lang="en-US" id="id_14036987_3444439_14_1">Issued under dividend reinvestment and share purchase plans</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_lbl" xml:lang="en-US" id="id_14036987_3420259_1_1">Increase (decrease) through exercise of options, equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_lbl" xml:lang="en-US" id="id_14036987_3420259_2_1">Issued on exercise of stock options</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_lbl" xml:lang="en-US" id="id_14036987_3420259_12_1">Issued on exercise of stock options and deferred share units</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDecreaseThroughExerciseOfOptionsAndDeferredShareUnits" xlink:label="mfc_IncreaseDecreaseThroughExerciseOfOptionsAndDeferredShareUnits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDecreaseThroughExerciseOfOptionsAndDeferredShareUnits_lbl" xml:lang="en-US" id="id_14036987_3447255_3_1">Increase (decrease) through exercise of options and deferred share units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDecreaseThroughExerciseOfOptionsAndDeferredShareUnits_lbl" xml:lang="en-US" id="id_14036987_3447255_1_1">Increase (decrease) through exercise of options and deferred share units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseDecreaseThroughExerciseOfOptionsAndDeferredShareUnits_lbl" xml:lang="en-US" id="id_14036987_3447255_2_1">Exercise of stock options and deferred share units</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughModificationOfContractualCashFlowsFinancialAssets" xlink:label="ifrs-full_IncreaseDecreaseThroughModificationOfContractualCashFlowsFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughModificationOfContractualCashFlowsFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3420494_1_1">Increase (decrease) through modification of contractual cash flows, financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughModificationOfContractualCashFlowsFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3420494_2_1">(Decrease) increase in repurchase agreements and securities sold but not yet purchased</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughModificationOfContractualCashFlowsFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3420494_12_1">Increase (decrease) in repurchase agreements and securities sold but not yet purchased</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3420495_1_1">Increase (decrease) through net exchange differences, deferred tax liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3420495_14_1">Translation and Other</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill_lbl" xml:lang="en-US" id="id_14036987_3420912_1_1">Increase (decrease) through net exchange differences, goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill_lbl" xml:lang="en-US" id="id_14036987_3420912_2_1">Effect of changes in foreign exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill_lbl" xml:lang="en-US" id="id_14036987_3420669_1_1">Increase (decrease) through net exchange differences, intangible assets and goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill_lbl" xml:lang="en-US" id="id_14036987_3420669_2_1">Effect of changes in foreign exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" id="id_14036987_3420670_1_1">Increase (decrease) through net exchange differences, intangible assets other than goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" id="id_14036987_3420670_2_1">Effect of changes in foreign exchange rates - Total intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en-US" id="id_14036987_3420672_1_1">Increase (decrease) through net exchange differences, liabilities under insurance contracts and reinsurance contracts issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en-US" id="id_14036987_3420672_2_1">Impact of changes in foreign exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xml:lang="en-US" id="id_14036987_3420273_1_1">Increase (decrease) through share-based payment transactions, equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xml:lang="en-US" id="id_14036987_3420273_2_1">Stock option expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseDueToDecisionToChangeThePortfolioAssetMixSupportingLegacyBusinessInsuranceContracts" xlink:label="mfc_IncreaseDueToDecisionToChangeThePortfolioAssetMixSupportingLegacyBusinessInsuranceContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseDueToDecisionToChangeThePortfolioAssetMixSupportingLegacyBusinessInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447150_3_1">Increase due to decision to change the portfolio asset mix supporting legacy business, insurance contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseDueToDecisionToChangeThePortfolioAssetMixSupportingLegacyBusinessInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447150_1_1">Increase due to decision to change the portfolio asset mix supporting legacy business, insurance contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_IncreaseDueToDecisionToChangeThePortfolioAssetMixSupportingLegacyBusinessInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447150_14_1">Increase due to decision to change the portfolio asset mix supporting legacy businesses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseDueToDecisionToChangeThePortfolioAssetMixSupportingLegacyBusinessInsuranceContracts" xlink:to="mfc_IncreaseDueToDecisionToChangeThePortfolioAssetMixSupportingLegacyBusinessInsuranceContracts_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseInInsuranceContractLiabilitiesBeforeOfTax" xlink:label="mfc_IncreaseInInsuranceContractLiabilitiesBeforeOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseInInsuranceContractLiabilitiesBeforeOfTax_lbl" xml:lang="en-US" id="id_14036987_3542120_3_1">Increase in insurance contract liabilities, before of tax.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseInInsuranceContractLiabilitiesBeforeOfTax_lbl" xml:lang="en-US" id="id_14036987_3542120_1_1">Increase in insurance contract liabilities, before of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseInInsuranceContractLiabilitiesBeforeOfTax_lbl" xml:lang="en-US" id="id_14036987_3542120_2_1">Impact of U.S. Tax Reform</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseInInsuranceContractLiabilitiesBeforeOfTax" xlink:to="mfc_IncreaseInInsuranceContractLiabilitiesBeforeOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncreaseInInsuranceContractLiabilitiesNetOfTax" xlink:label="mfc_IncreaseInInsuranceContractLiabilitiesNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncreaseInInsuranceContractLiabilitiesNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3542119_3_1">Increase in insurance contract liabilities, net of tax.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncreaseInInsuranceContractLiabilitiesNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3542119_1_1">Increase in insurance contract liabilities, net of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncreaseInInsuranceContractLiabilitiesNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3542119_2_1">Impact of U.S. Tax Reform, post-tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncreaseInInsuranceContractLiabilitiesNetOfTax" xlink:to="mfc_IncreaseInInsuranceContractLiabilitiesNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IncrementalUnamortizedFairValue" xlink:label="mfc_IncrementalUnamortizedFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IncrementalUnamortizedFairValue_lbl" xml:lang="en-US" id="id_14036987_3446673_3_1">Incremental unamortized fair value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IncrementalUnamortizedFairValue_lbl" xml:lang="en-US" id="id_14036987_3446673_1_1">Incremental unamortized fair value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IncrementalUnamortizedFairValue_lbl" xml:lang="en-US" id="id_14036987_3446673_2_1">Unamortized fair value increment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IncrementalUnamortizedFairValue" xlink:to="mfc_IncrementalUnamortizedFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_lbl" xml:lang="en-US" id="id_14036987_3420929_1_1">Individual assets or cash-generating units [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_lbl" xml:lang="en-US" id="id_14036987_3420929_2_1">Individual assets or cash-generating units [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IndividualInsuranceNonparticipatingMember" xlink:label="mfc_IndividualInsuranceNonparticipatingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IndividualInsuranceNonparticipatingMember_lbl" xml:lang="en-US" id="id_14036987_3478991_3_1">Individual insurance non-participating.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IndividualInsuranceNonparticipatingMember_lbl" xml:lang="en-US" id="id_14036987_3478991_1_1">Individual insurance non-participating [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IndividualInsuranceNonparticipatingMember_lbl" xml:lang="en-US" id="id_14036987_3478991_2_1">Individual insurance non-participating [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IndividualInsuranceNonparticipatingMember" xlink:to="mfc_IndividualInsuranceNonparticipatingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IndividualInsuranceParticipatingMember" xlink:label="mfc_IndividualInsuranceParticipatingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IndividualInsuranceParticipatingMember_lbl" xml:lang="en-US" id="id_14036987_3478990_3_1">Individual insurance participating.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IndividualInsuranceParticipatingMember_lbl" xml:lang="en-US" id="id_14036987_3478990_1_1">Individual insurance participating [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IndividualInsuranceParticipatingMember_lbl" xml:lang="en-US" id="id_14036987_3478990_2_1">Individual insurance participating [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IndividualInsuranceParticipatingMember" xlink:to="mfc_IndividualInsuranceParticipatingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IndustrialMember" xlink:label="mfc_IndustrialMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IndustrialMember_lbl" xml:lang="en-US" id="id_14036987_3479695_3_1">Industrial.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IndustrialMember_lbl" xml:lang="en-US" id="id_14036987_3479695_1_1">Industrial [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IndustrialMember_lbl" xml:lang="en-US" id="id_14036987_3479695_2_1">Industrial [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IndustrialMember" xlink:to="mfc_IndustrialMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IneffectivenessRecognizedInInvestmentIncome" xlink:label="mfc_IneffectivenessRecognizedInInvestmentIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IneffectivenessRecognizedInInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3446717_3_1">Ineffectiveness recognized in investment income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IneffectivenessRecognizedInInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3446717_1_1">Ineffectiveness recognized in investment income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IneffectivenessRecognizedInInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3446717_2_1">Ineffectiveness recognized in investment income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IneffectivenessRecognizedInInvestmentIncome" xlink:to="mfc_IneffectivenessRecognizedInInvestmentIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember" xlink:label="mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember_lbl" xml:lang="en-US" id="id_14036987_3508891_3_1">Insurance and investment contract liabilities and macro equity hedges.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember_lbl" xml:lang="en-US" id="id_14036987_3508891_1_1">Insurance and investment contract liabilities and macro equity hedges [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember_lbl" xml:lang="en-US" id="id_14036987_3508891_2_1">Insurance and investment contract liabilities and macro equity hedges [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember" xlink:to="mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InsuranceClaimsAndBenefitsGross" xlink:label="mfc_InsuranceClaimsAndBenefitsGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InsuranceClaimsAndBenefitsGross_lbl" xml:lang="en-US" id="id_14036987_3446756_3_1">Insurance claims and benefits gross.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InsuranceClaimsAndBenefitsGross_lbl" xml:lang="en-US" id="id_14036987_3446756_1_1">Insurance Claims And Benefits Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InsuranceClaimsAndBenefitsGross_lbl" xml:lang="en-US" id="id_14036987_3446756_2_1">Gross claims and benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_InsuranceClaimsAndBenefitsGross_lbl" xml:lang="en-US" id="id_14036987_3446756_12_1">Gross claims and benefits (note 7)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InsuranceClaimsAndBenefitsGross" xlink:to="mfc_InsuranceClaimsAndBenefitsGross_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InsuranceContractsAxis" xlink:label="ifrs-full_InsuranceContractsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InsuranceContractsAxis_lbl" xml:lang="en-US" id="id_14036987_3421830_1_1">Insurance contracts [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InsuranceContractsAxis_lbl" xml:lang="en-US" id="id_14036987_3421830_2_1">Insurance contracts [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InsuranceContractsAxis" xlink:to="ifrs-full_InsuranceContractsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InsuranceContractsContractualObligationsPaymentsDueOnLiabilities" xlink:label="mfc_InsuranceContractsContractualObligationsPaymentsDueOnLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InsuranceContractsContractualObligationsPaymentsDueOnLiabilities_lbl" xml:lang="en-US" id="id_14036987_3452923_3_1">Insurance contracts contractual obligations payments due on liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InsuranceContractsContractualObligationsPaymentsDueOnLiabilities_lbl" xml:lang="en-US" id="id_14036987_3452923_1_1">Insurance contracts contractual obligations payments due on liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InsuranceContractsContractualObligationsPaymentsDueOnLiabilities_lbl" xml:lang="en-US" id="id_14036987_3452923_2_1">Insurance contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InsuranceContractsContractualObligationsPaymentsDueOnLiabilities" xlink:to="mfc_InsuranceContractsContractualObligationsPaymentsDueOnLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InsuranceContractsMember" xlink:label="ifrs-full_InsuranceContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InsuranceContractsMember_lbl" xml:lang="en-US" id="id_14036987_3420707_1_1">Types of insurance contracts [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InsuranceContractsMember_lbl" xml:lang="en-US" id="id_14036987_3420707_2_1">Types of insurance contracts [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InsuranceContractsMember" xlink:to="ifrs-full_InsuranceContractsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InsuranceContractsMember2017" xlink:label="ifrs-full_InsuranceContractsMember2017"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InsuranceContractsMember2017_lbl" xml:lang="en-US" id="id_14036987_3420951_1_1">Insurance contracts [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InsuranceContractsMember2017_lbl" xml:lang="en-US" id="id_14036987_3420951_2_1">Insurance contracts [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InsuranceContractsMember2017" xlink:to="ifrs-full_InsuranceContractsMember2017_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InsurancePremiumIncomeAbstract" xlink:label="mfc_InsurancePremiumIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InsurancePremiumIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3431456_3_1">Insurance premium income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InsurancePremiumIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3431456_1_1">Insurance Premium income [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InsurancePremiumIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3431456_2_1">Premium income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InsurancePremiumIncomeAbstract" xlink:to="mfc_InsurancePremiumIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InsuranceRetentionLimit" xlink:label="mfc_InsuranceRetentionLimit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InsuranceRetentionLimit_lbl" xml:lang="en-US" id="id_14036987_3453017_3_1">Insurance retention limit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InsuranceRetentionLimit_lbl" xml:lang="en-US" id="id_14036987_3453017_1_1">Insurance retention limit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InsuranceRetentionLimit_lbl" xml:lang="en-US" id="id_14036987_3453017_2_1">Global retention limit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InsuranceRetentionLimit" xlink:to="mfc_InsuranceRetentionLimit_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InsuredMember" xlink:label="mfc_InsuredMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InsuredMember_lbl" xml:lang="en-US" id="id_14036987_3479706_3_1">Insured.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InsuredMember_lbl" xml:lang="en-US" id="id_14036987_3479706_1_1">Insured [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InsuredMember_lbl" xml:lang="en-US" id="id_14036987_3479706_2_1">Insured [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InsuredMember" xlink:to="mfc_InsuredMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en-US" id="id_14036987_3421839_1_1">Intangible assets and goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en-US" id="id_14036987_3421839_4_1">Total goodwill and intangible assets Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en-US" id="id_14036987_3421839_5_1">Total goodwill and intangible assets Beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en-US" id="id_14036987_3421839_2_1">Goodwill and intangible assets (note 6)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsMaterialToEntity" xlink:label="ifrs-full_IntangibleAssetsMaterialToEntity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsMaterialToEntity_lbl" xml:lang="en-US" id="id_14036987_3421840_1_1">Intangible assets material to entity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsMaterialToEntity_lbl" xml:lang="en-US" id="id_14036987_3421840_2_1">Gross carrying amount of finite life intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsMaterialToEntity" xlink:to="ifrs-full_IntangibleAssetsMaterialToEntity_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsMaterialToEntityAxis" xlink:label="ifrs-full_IntangibleAssetsMaterialToEntityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsMaterialToEntityAxis_lbl" xml:lang="en-US" id="id_14036987_3421368_1_1">Intangible assets material to entity [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsMaterialToEntityAxis_lbl" xml:lang="en-US" id="id_14036987_3421368_2_1">Intangible assets material to entity [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsMaterialToEntityAxis" xlink:to="ifrs-full_IntangibleAssetsMaterialToEntityAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsMaterialToEntityMember" xlink:label="ifrs-full_IntangibleAssetsMaterialToEntityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsMaterialToEntityMember_lbl" xml:lang="en-US" id="id_14036987_3420962_1_1">Intangible assets material to entity [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsMaterialToEntityMember_lbl" xml:lang="en-US" id="id_14036987_3420962_2_1">Intangible assets material to entity [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsMaterialToEntityMember" xlink:to="ifrs-full_IntangibleAssetsMaterialToEntityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" id="id_14036987_3421841_1_1">Intangible assets other than goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" id="id_14036987_3421841_4_1">Total intangible assets Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" id="id_14036987_3421841_5_1">Total intangible assets Beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" id="id_14036987_3421841_2_1">Intangible assets ending balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwillMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwillMember_lbl" xml:lang="en-US" id="id_14036987_3421843_1_1">Intangible assets other than goodwill [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwillMember_lbl" xml:lang="en-US" id="id_14036987_3421843_2_1">Intangible assets other than goodwill [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwillMember" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwillMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IntangibleAssetsWithFiniteUsefulLifeMember" xlink:label="mfc_IntangibleAssetsWithFiniteUsefulLifeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IntangibleAssetsWithFiniteUsefulLifeMember_lbl" xml:lang="en-US" id="id_14036987_3479567_3_1">Intangible assets with finite useful life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IntangibleAssetsWithFiniteUsefulLifeMember_lbl" xml:lang="en-US" id="id_14036987_3479567_1_1">Intangible assets with finite useful life [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IntangibleAssetsWithFiniteUsefulLifeMember_lbl" xml:lang="en-US" id="id_14036987_3479567_2_1">Finite life intangible assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IntangibleAssetsWithFiniteUsefulLifeMember" xlink:to="mfc_IntangibleAssetsWithFiniteUsefulLifeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis_lbl" xml:lang="en-US" id="id_14036987_3420965_1_1">Intangible assets with indefinite useful life [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis_lbl" xml:lang="en-US" id="id_14036987_3420965_2_1">Intangible assets with indefinite useful life [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis" xlink:to="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember_lbl" xml:lang="en-US" id="id_14036987_3420966_1_1">Intangible assets with indefinite useful life [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember_lbl" xml:lang="en-US" id="id_14036987_3420966_2_1">Intangible assets with indefinite useful life [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember" xlink:to="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IntangibleAssetsWithInfiniteUsefulLifeMember" xlink:label="mfc_IntangibleAssetsWithInfiniteUsefulLifeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IntangibleAssetsWithInfiniteUsefulLifeMember_lbl" xml:lang="en-US" id="id_14036987_3479568_3_1">Intangible assets with infinite useful life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IntangibleAssetsWithInfiniteUsefulLifeMember_lbl" xml:lang="en-US" id="id_14036987_3479568_1_1">Intangible assets with infinite useful life [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IntangibleAssetsWithInfiniteUsefulLifeMember_lbl" xml:lang="en-US" id="id_14036987_3479568_2_1">Indefinite life intangible assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IntangibleAssetsWithInfiniteUsefulLifeMember" xlink:to="mfc_IntangibleAssetsWithInfiniteUsefulLifeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpense" xlink:label="ifrs-full_InterestExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpense_lbl" xml:lang="en-US" id="id_14036987_3421376_1_1">Interest expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpense_lbl" xml:lang="en-US" id="id_14036987_3421376_2_1">Interest expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpense" xlink:to="ifrs-full_InterestExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3421196_1_1">Interest expense (income), net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3421196_2_1">Interest cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3421196_14_1">Interest on net defined benefit (asset) liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpenseOnBorrowings" xlink:label="ifrs-full_InterestExpenseOnBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xml:lang="en-US" id="id_14036987_3421197_1_1">Interest expense on borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xml:lang="en-US" id="id_14036987_3421197_2_1">Interest paid on long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnBorrowings" xlink:to="ifrs-full_InterestExpenseOnBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InterestIncomeMember" xlink:label="mfc_InterestIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InterestIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3532590_3_1">Interest income [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InterestIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3532590_1_1">Interest income [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InterestIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3532590_2_1">Interest income [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InterestIncomeMember" xlink:to="mfc_InterestIncomeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InterestPaid1" xlink:label="mfc_InterestPaid1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InterestPaid1_lbl" xml:lang="en-US" id="id_14036987_3444098_3_1">Interest paid.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InterestPaid1_lbl" xml:lang="en-US" id="id_14036987_3444098_1_1">Interest Paid 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InterestPaid1_lbl" xml:lang="en-US" id="id_14036987_3444098_2_1">Interest paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InterestPaid1" xlink:to="mfc_InterestPaid1_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestPayable" xlink:label="ifrs-full_InterestPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestPayable_lbl" xml:lang="en-US" id="id_14036987_3420979_1_1">Interest payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestPayable_lbl" xml:lang="en-US" id="id_14036987_3420979_2_1">Accrued interest payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPayable" xlink:to="ifrs-full_InterestPayable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InterestRateFuturesMember" xlink:label="mfc_InterestRateFuturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InterestRateFuturesMember_lbl" xml:lang="en-US" id="id_14036987_3479002_3_1">Interest rate futures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InterestRateFuturesMember_lbl" xml:lang="en-US" id="id_14036987_3479002_1_1">Interest rate futures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InterestRateFuturesMember_lbl" xml:lang="en-US" id="id_14036987_3479002_2_1">Interest rate futures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InterestRateFuturesMember" xlink:to="mfc_InterestRateFuturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InterestRateOptionsMember" xlink:label="mfc_InterestRateOptionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InterestRateOptionsMember_lbl" xml:lang="en-US" id="id_14036987_3529728_3_1">Interest rate options.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InterestRateOptionsMember_lbl" xml:lang="en-US" id="id_14036987_3529728_1_1">Interest rate options [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InterestRateOptionsMember_lbl" xml:lang="en-US" id="id_14036987_3529728_2_1">Interest rate options [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InterestRateOptionsMember" xlink:to="mfc_InterestRateOptionsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateRiskMember" xlink:label="ifrs-full_InterestRateRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestRateRiskMember_lbl" xml:lang="en-US" id="id_14036987_3421384_1_1">Interest rate risk [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestRateRiskMember_lbl" xml:lang="en-US" id="id_14036987_3421384_2_1">Interest Rate and Spread Risk [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateRiskMember" xlink:to="ifrs-full_InterestRateRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateSwapContractMember" xlink:label="ifrs-full_InterestRateSwapContractMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestRateSwapContractMember_lbl" xml:lang="en-US" id="id_14036987_3420980_1_1">Interest rate swap contract [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestRateSwapContractMember_lbl" xml:lang="en-US" id="id_14036987_3420980_2_1">Interest rate swaps [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateSwapContractMember" xlink:to="ifrs-full_InterestRateSwapContractMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestReceivable" xlink:label="ifrs-full_InterestReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestReceivable_lbl" xml:lang="en-US" id="id_14036987_3420981_1_1">Interest receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestReceivable_lbl" xml:lang="en-US" id="id_14036987_3420981_2_1">Accrued interest receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestReceivable" xlink:to="ifrs-full_InterestReceivable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InterestReceived" xlink:label="mfc_InterestReceived"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InterestReceived_lbl" xml:lang="en-US" id="id_14036987_3444097_3_1">Interest received.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InterestReceived_lbl" xml:lang="en-US" id="id_14036987_3444097_1_1">Interest Received</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InterestReceived_lbl" xml:lang="en-US" id="id_14036987_3444097_2_1">Interest received</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InterestReceived" xlink:to="mfc_InterestReceived_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InternalCreditGradesAxis" xlink:label="ifrs-full_InternalCreditGradesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InternalCreditGradesAxis_lbl" xml:lang="en-US" id="id_14036987_3420983_1_1">Internal credit grades [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InternalCreditGradesAxis_lbl" xml:lang="en-US" id="id_14036987_3420983_2_1">Internal credit grades [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InternalCreditGradesAxis" xlink:to="ifrs-full_InternalCreditGradesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_IntervalPercentageOfWhichImpactOfRebalancingEquityHedgesForDynamicallyHedgedVariableAnnuityGuaranteeBestEstimateLiabilities" xlink:label="mfc_IntervalPercentageOfWhichImpactOfRebalancingEquityHedgesForDynamicallyHedgedVariableAnnuityGuaranteeBestEstimateLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_IntervalPercentageOfWhichImpactOfRebalancingEquityHedgesForDynamicallyHedgedVariableAnnuityGuaranteeBestEstimateLiabilities_lbl" xml:lang="en-US" id="id_14036987_3526522_3_1">This percentage represents the interval size of which the impact of rebalancing equity hedges for dynamically hedged variable annuity guarantee best estimate liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_IntervalPercentageOfWhichImpactOfRebalancingEquityHedgesForDynamicallyHedgedVariableAnnuityGuaranteeBestEstimateLiabilities_lbl" xml:lang="en-US" id="id_14036987_3526522_1_1">Interval percentage of which impact of rebalancing equity hedges for dynamically hedged variable annuity guarantee best estimate liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_IntervalPercentageOfWhichImpactOfRebalancingEquityHedgesForDynamicallyHedgedVariableAnnuityGuaranteeBestEstimateLiabilities_lbl" xml:lang="en-US" id="id_14036987_3526522_2_1">Interval percentage of which impact of rebalancing equity hedges for dynamically hedged variable annuity guarantee best estimate liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_IntervalPercentageOfWhichImpactOfRebalancingEquityHedgesForDynamicallyHedgedVariableAnnuityGuaranteeBestEstimateLiabilities" xlink:to="mfc_IntervalPercentageOfWhichImpactOfRebalancingEquityHedgesForDynamicallyHedgedVariableAnnuityGuaranteeBestEstimateLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestedAssets" xlink:label="mfc_InvestedAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3444461_3_1">Invested assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3444461_1_1">Invested Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3444461_2_1">Invested assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_InvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3444461_6_1">Total invested assets (note 3)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_InvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3444461_12_1">Total invested assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestedAssets" xlink:to="mfc_InvestedAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestedAssetsMember" xlink:label="mfc_InvestedAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479964_3_1">Invested assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479964_1_1">Invested assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479964_2_1">Related to invested assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestedAssetsMember" xlink:to="mfc_InvestedAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentCategoriesForVariableContractsWithGuaranteesAbstract" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesAbstract_lbl" xml:lang="en-US" id="id_14036987_3426266_3_1">Investment Categories For Variable Contracts With Guarantees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesAbstract_lbl" xml:lang="en-US" id="id_14036987_3426266_1_1">Investment Categories For Variable Contracts With Guarantees [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesAbstract_lbl" xml:lang="en-US" id="id_14036987_3426266_2_1">Investment Categories For Variable Contracts With Guarantees [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesAbstract" xlink:to="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentCategoriesForVariableContractsWithGuaranteesLineItems" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesLineItems_lbl" xml:lang="en-US" id="id_14036987_3426265_3_1">Investment categories for variable contracts with guarantees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesLineItems_lbl" xml:lang="en-US" id="id_14036987_3426265_1_1">Investment Categories For Variable Contracts With Guarantees [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesLineItems_lbl" xml:lang="en-US" id="id_14036987_3426265_2_1">Investment Categories For Variable Contracts With Guarantees [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesLineItems" xlink:to="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentCategoriesForVariableContractsWithGuaranteesTable" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesTable_lbl" xml:lang="en-US" id="id_14036987_3474614_3_1">Investment Categories For Variable Contracts With Guarantees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesTable_lbl" xml:lang="en-US" id="id_14036987_3474614_1_1">Investment Categories For Variable Contracts With Guarantees [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesTable_lbl" xml:lang="en-US" id="id_14036987_3474614_2_1">Investment Categories For Variable Contracts With Guarantees [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesTable" xlink:to="mfc_InvestmentCategoriesForVariableContractsWithGuaranteesTable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentCommitmentsOutstanding" xlink:label="mfc_InvestmentCommitmentsOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentCommitmentsOutstanding_lbl" xml:lang="en-US" id="id_14036987_3453103_3_1">Investment commitments outstanding.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentCommitmentsOutstanding_lbl" xml:lang="en-US" id="id_14036987_3453103_1_1">Investment commitments outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentCommitmentsOutstanding_lbl" xml:lang="en-US" id="id_14036987_3453103_2_1">Investment commitments outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentCommitmentsOutstanding" xlink:to="mfc_InvestmentCommitmentsOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentContractLiabilitiesAxis" xlink:label="mfc_InvestmentContractLiabilitiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentContractLiabilitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3475685_3_1">Investment Contract Liabilities [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentContractLiabilitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3475685_1_1">Investment Contract Liabilities [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentContractLiabilitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3475685_2_1">Investment Contract Liabilities [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentContractLiabilitiesAxis" xlink:to="mfc_InvestmentContractLiabilitiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentContractLiabilitiesMeasuredAtAmortizedCostDomain" xlink:label="mfc_InvestmentContractLiabilitiesMeasuredAtAmortizedCostDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentContractLiabilitiesMeasuredAtAmortizedCostDomain_lbl" xml:lang="en-US" id="id_14036987_3488270_3_1">Investment Contract Liabilities Measured At Amortized Cost [domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentContractLiabilitiesMeasuredAtAmortizedCostDomain_lbl" xml:lang="en-US" id="id_14036987_3488270_1_1">Investment Contract Liabilities Measured At Amortized Cost [domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentContractLiabilitiesMeasuredAtAmortizedCostDomain_lbl" xml:lang="en-US" id="id_14036987_3488270_2_1">Investment Contract Liabilities Measured At Amortized Cost [domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentContractLiabilitiesMeasuredAtAmortizedCostDomain" xlink:to="mfc_InvestmentContractLiabilitiesMeasuredAtAmortizedCostDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentContractsLiabilities" xlink:label="ifrs-full_InvestmentContractsLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentContractsLiabilities_lbl" xml:lang="en-US" id="id_14036987_3421399_1_1">Investment contracts liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_InvestmentContractsLiabilities_lbl" xml:lang="en-US" id="id_14036987_3421399_4_1">Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_InvestmentContractsLiabilities_lbl" xml:lang="en-US" id="id_14036987_3421399_5_1">Beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InvestmentContractsLiabilities_lbl" xml:lang="en-US" id="id_14036987_3421399_2_1">Investment contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_InvestmentContractsLiabilities_lbl" xml:lang="en-US" id="id_14036987_3421399_12_1">Investment contract liabilities (note 8)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentContractsLiabilities" xlink:to="ifrs-full_InvestmentContractsLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentExpenses" xlink:label="mfc_InvestmentExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentExpenses_lbl" xml:lang="en-US" id="id_14036987_3443861_3_1">Investment expenses.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentExpenses_lbl" xml:lang="en-US" id="id_14036987_3443861_1_1">Investment Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentExpenses_lbl" xml:lang="en-US" id="id_14036987_3443861_2_1">Investment expenses (note 3)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_InvestmentExpenses_lbl" xml:lang="en-US" id="id_14036987_3443861_12_1">Total investment expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentExpenses" xlink:to="mfc_InvestmentExpenses_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentExpensesLineItems" xlink:label="mfc_InvestmentExpensesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentExpensesLineItems_lbl" xml:lang="en-US" id="id_14036987_3431551_3_1">Investment expense.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentExpensesLineItems_lbl" xml:lang="en-US" id="id_14036987_3431551_1_1">Investment Expenses [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentExpensesLineItems_lbl" xml:lang="en-US" id="id_14036987_3431551_2_1">Investment Expenses [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentExpensesLineItems" xlink:to="mfc_InvestmentExpensesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentExpensesTable" xlink:label="mfc_InvestmentExpensesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentExpensesTable_lbl" xml:lang="en-US" id="id_14036987_3474531_3_1">Investment expenses.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentExpensesTable_lbl" xml:lang="en-US" id="id_14036987_3474531_1_1">Investment Expenses [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentExpensesTable_lbl" xml:lang="en-US" id="id_14036987_3474531_2_1">Investment Expenses [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentExpensesTable" xlink:to="mfc_InvestmentExpensesTable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentGradeDebtSecuritiesAndPrivatePlacementsRate" xlink:label="mfc_InvestmentGradeDebtSecuritiesAndPrivatePlacementsRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentGradeDebtSecuritiesAndPrivatePlacementsRate_lbl" xml:lang="en-US" id="id_14036987_3526381_3_1">Investment grade debt securities and private placements rate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentGradeDebtSecuritiesAndPrivatePlacementsRate_lbl" xml:lang="en-US" id="id_14036987_3526381_1_1">Investment grade debt securities and private placements rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentGradeDebtSecuritiesAndPrivatePlacementsRate_lbl" xml:lang="en-US" id="id_14036987_3526381_2_1">Investment grade debt securities and private placements rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentGradeDebtSecuritiesAndPrivatePlacementsRate" xlink:to="mfc_InvestmentGradeDebtSecuritiesAndPrivatePlacementsRate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentIncome" xlink:label="ifrs-full_InvestmentIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3421225_1_1">Investment income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3421225_2_1">Investment income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentIncome" xlink:to="ifrs-full_InvestmentIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentIncomeAbstract" xlink:label="mfc_InvestmentIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3431119_3_1">Investment Income [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3431119_1_1">Investment Income [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3431119_2_1">Investment Income [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentIncomeAbstract" xlink:to="mfc_InvestmentIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentIncomeExpenseAbstract" xlink:label="mfc_InvestmentIncomeExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentIncomeExpenseAbstract_lbl" xml:lang="en-US" id="id_14036987_3431457_3_1">Investment income expense.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentIncomeExpenseAbstract_lbl" xml:lang="en-US" id="id_14036987_3431457_1_1">Investment income expense [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentIncomeExpenseAbstract_lbl" xml:lang="en-US" id="id_14036987_3431457_2_1">Investment income expense [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentIncomeExpenseAbstract" xlink:to="mfc_InvestmentIncomeExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentIncomeLossAbstract" xlink:label="mfc_InvestmentIncomeLossAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentIncomeLossAbstract_lbl" xml:lang="en-US" id="id_14036987_3431017_3_1">Investment Income Loss [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentIncomeLossAbstract_lbl" xml:lang="en-US" id="id_14036987_3431017_1_1">Investment Income Loss [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentIncomeLossAbstract_lbl" xml:lang="en-US" id="id_14036987_3431017_2_1">Investment income (note 3)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentIncomeLossAbstract" xlink:to="mfc_InvestmentIncomeLossAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentInStartupCapitalOfMutualFunds" xlink:label="mfc_InvestmentInStartupCapitalOfMutualFunds"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentInStartupCapitalOfMutualFunds_lbl" xml:lang="en-US" id="id_14036987_3453203_3_1">Capital of mutual funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentInStartupCapitalOfMutualFunds_lbl" xml:lang="en-US" id="id_14036987_3453203_1_1">Investment in startup capital of mutual funds</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentInStartupCapitalOfMutualFunds_lbl" xml:lang="en-US" id="id_14036987_3453203_2_1">Investment in startup capital of mutual funds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentInStartupCapitalOfMutualFunds" xlink:to="mfc_InvestmentInStartupCapitalOfMutualFunds_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentInterestIncome" xlink:label="mfc_InvestmentInterestIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentInterestIncome_lbl" xml:lang="en-US" id="id_14036987_3446766_3_1">Investment interest income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentInterestIncome_lbl" xml:lang="en-US" id="id_14036987_3446766_1_1">Investment interest income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentInterestIncome_lbl" xml:lang="en-US" id="id_14036987_3446766_2_1">Interest income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentInterestIncome" xlink:to="mfc_InvestmentInterestIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentManagementAndOtherRelatedFeesMember" xlink:label="mfc_InvestmentManagementAndOtherRelatedFeesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentManagementAndOtherRelatedFeesMember_lbl" xml:lang="en-US" id="id_14036987_3536733_3_1">Investment management and other related fees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentManagementAndOtherRelatedFeesMember_lbl" xml:lang="en-US" id="id_14036987_3536733_1_1">Investment management and other related fees [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentManagementAndOtherRelatedFeesMember_lbl" xml:lang="en-US" id="id_14036987_3536733_2_1">Investment management and other related fees [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentManagementAndOtherRelatedFeesMember" xlink:to="mfc_InvestmentManagementAndOtherRelatedFeesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentProperty" xlink:label="ifrs-full_InvestmentProperty"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentProperty_lbl" xml:lang="en-US" id="id_14036987_3421237_1_1">Investment property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InvestmentProperty_lbl" xml:lang="en-US" id="id_14036987_3421237_2_1">Real estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_InvestmentProperty_lbl" xml:lang="en-US" id="id_14036987_3421237_12_1">Real estate - investment property</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentProperty" xlink:to="ifrs-full_InvestmentProperty_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentPropertyCapitalizationRates" xlink:label="mfc_InvestmentPropertyCapitalizationRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentPropertyCapitalizationRates_lbl" xml:lang="en-US" id="id_14036987_3526259_3_1">Investment property capitalization rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentPropertyCapitalizationRates_lbl" xml:lang="en-US" id="id_14036987_3526259_1_1">Investment property capitalization rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentPropertyCapitalizationRates_lbl" xml:lang="en-US" id="id_14036987_3526259_2_1">Investment properties capitalization rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentPropertyCapitalizationRates" xlink:to="mfc_InvestmentPropertyCapitalizationRates_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentPropertyMember" xlink:label="ifrs-full_InvestmentPropertyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentPropertyMember_lbl" xml:lang="en-US" id="id_14036987_3421410_1_1">Investment property [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InvestmentPropertyMember_lbl" xml:lang="en-US" id="id_14036987_3421410_2_1">Investment property [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentPropertyMember" xlink:to="ifrs-full_InvestmentPropertyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentPropertyTerminalCapitalizationRates" xlink:label="mfc_InvestmentPropertyTerminalCapitalizationRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentPropertyTerminalCapitalizationRates_lbl" xml:lang="en-US" id="id_14036987_3526260_3_1">Investment property terminal capitalization rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentPropertyTerminalCapitalizationRates_lbl" xml:lang="en-US" id="id_14036987_3526260_1_1">Investment property terminal capitalization rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentPropertyTerminalCapitalizationRates_lbl" xml:lang="en-US" id="id_14036987_3526260_2_1">Investment properties terminal capitalization rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentPropertyTerminalCapitalizationRates" xlink:to="mfc_InvestmentPropertyTerminalCapitalizationRates_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentReturnAssumptionsMember" xlink:label="mfc_InvestmentReturnAssumptionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentReturnAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3536689_3_1">Investment return assumptions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentReturnAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3536689_1_1">Investment Return Assumptions [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentReturnAssumptionsMember_lbl" xml:lang="en-US" id="id_14036987_3536689_2_1">Investment return assumptions [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentReturnAssumptionsMember" xlink:to="mfc_InvestmentReturnAssumptionsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract" xlink:label="ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract_lbl" xml:lang="en-US" id="id_14036987_3421414_1_1">Investments accounted for using equity method [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract_lbl" xml:lang="en-US" id="id_14036987_3421414_2_1">Investments accounted for using equity method [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract" xlink:to="ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentSectorAxis" xlink:label="invest_InvestmentSectorAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="invest_InvestmentSectorAxis_lbl" xml:lang="en-US" id="id_14036987_3421242_1_1">Investment Sector [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="invest_InvestmentSectorAxis_lbl" xml:lang="en-US" id="id_14036987_3421242_2_1">Investment Sector [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentSectorAxis" xlink:to="invest_InvestmentSectorAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentSectorDomain" xlink:label="invest_InvestmentSectorDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="invest_InvestmentSectorDomain_lbl" xml:lang="en-US" id="id_14036987_3421000_1_1">Investment Sector [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="invest_InvestmentSectorDomain_lbl" xml:lang="en-US" id="id_14036987_3421000_2_1">Investment Sector [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentSectorDomain" xlink:to="invest_InvestmentSectorDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentsForRiskOfPolicyholders" xlink:label="ifrs-full_InvestmentsForRiskOfPolicyholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentsForRiskOfPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3421003_1_1">Investments for risk of policyholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InvestmentsForRiskOfPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3421003_2_1">Policy loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsForRiskOfPolicyholders" xlink:to="ifrs-full_InvestmentsForRiskOfPolicyholders_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentsForVariableContractsWithGuarantees" xlink:label="mfc_InvestmentsForVariableContractsWithGuarantees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentsForVariableContractsWithGuarantees_lbl" xml:lang="en-US" id="id_14036987_3451659_3_1">Investments for variable contracts with guarantees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentsForVariableContractsWithGuarantees_lbl" xml:lang="en-US" id="id_14036987_3451659_1_1">Investments for variable contracts with guarantees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentsForVariableContractsWithGuarantees_lbl" xml:lang="en-US" id="id_14036987_3451659_2_1">Investments for variable contracts with guarantees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentsForVariableContractsWithGuarantees" xlink:to="mfc_InvestmentsForVariableContractsWithGuarantees_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:label="ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod_lbl" xml:lang="en-US" id="id_14036987_3421880_1_1">Investments in associates accounted for using equity method</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod_lbl" xml:lang="en-US" id="id_14036987_3421880_2_1">Investments in associates carrying value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentsInSubsidiaries" xlink:label="ifrs-full_InvestmentsInSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentsInSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3421882_1_1">Investments in subsidiaries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InvestmentsInSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3421882_2_1">Investments in unconsolidated subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInSubsidiaries" xlink:to="ifrs-full_InvestmentsInSubsidiaries_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentStructuredEntitiesMember" xlink:label="mfc_InvestmentStructuredEntitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentStructuredEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3502594_3_1">Investment subsidiary entities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentStructuredEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3502594_1_1">Investment Structured Entities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentStructuredEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3502594_2_1">Investment SEs [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentStructuredEntitiesMember" xlink:to="mfc_InvestmentStructuredEntitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentTypeAxis" xlink:label="mfc_InvestmentTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentTypeAxis_lbl" xml:lang="en-US" id="id_14036987_3532585_3_1">Investment type [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentTypeAxis_lbl" xml:lang="en-US" id="id_14036987_3532585_1_1">Investment type [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentTypeAxis_lbl" xml:lang="en-US" id="id_14036987_3532585_2_1">Investment type [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentTypeAxis" xlink:to="mfc_InvestmentTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_InvestmentTypeMember" xlink:label="mfc_InvestmentTypeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_InvestmentTypeMember_lbl" xml:lang="en-US" id="id_14036987_3532586_3_1">Investment type [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_InvestmentTypeMember_lbl" xml:lang="en-US" id="id_14036987_3532586_1_1">Investment type [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_InvestmentTypeMember_lbl" xml:lang="en-US" id="id_14036987_3532586_2_1">Investment type [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_InvestmentTypeMember" xlink:to="mfc_InvestmentTypeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="ifrs-full_IssuedCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssuedCapital_lbl" xml:lang="en-US" id="id_14036987_3421012_1_1">Issued capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssuedCapital_lbl" xml:lang="en-US" id="id_14036987_3421012_2_1">Issued shares (note 12)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapital" xlink:to="ifrs-full_IssuedCapital_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssueOfEquity" xlink:label="ifrs-full_IssueOfEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssueOfEquity_lbl" xml:lang="en-US" id="id_14036987_3421895_1_1">Issue of equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssueOfEquity_lbl" xml:lang="en-US" id="id_14036987_3421895_2_1">Issued (note 12)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IssueOfEquity_lbl" xml:lang="en-US" id="id_14036987_3421895_12_1">Issued, amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssueOfEquity" xlink:to="ifrs-full_IssueOfEquity_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JacksonNationalLifeInsuranceCompanyMember" xlink:label="mfc_JacksonNationalLifeInsuranceCompanyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JacksonNationalLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3497794_3_1">Jackson national life insurance company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JacksonNationalLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3497794_1_1">Jackson National Life Insurance Company [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JacksonNationalLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3497794_2_1">Jackson National Life Insurance Company [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JacksonNationalLifeInsuranceCompanyMember" xlink:to="mfc_JacksonNationalLifeInsuranceCompanyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JapanInsuranceMember" xlink:label="mfc_JapanInsuranceMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JapanInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3541798_3_1">Japan insurance.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JapanInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3541798_1_1">Japan insurance [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JapanInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3541798_2_1">Japan insurance [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JapanInsuranceMember" xlink:to="mfc_JapanInsuranceMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JHFCSubordinatedNotesMember" xlink:label="mfc_JHFCSubordinatedNotesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JHFCSubordinatedNotesMember_lbl" xml:lang="en-US" id="id_14036987_3495026_3_1">JHFC subordinated notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JHFCSubordinatedNotesMember_lbl" xml:lang="en-US" id="id_14036987_3495026_1_1">JHFC subordinated notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JHFCSubordinatedNotesMember_lbl" xml:lang="en-US" id="id_14036987_3495026_2_1">JHFC subordinated notes [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JHFCSubordinatedNotesMember" xlink:to="mfc_JHFCSubordinatedNotesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JhInvestmentsDelawareLlcMember" xlink:label="mfc_JhInvestmentsDelawareLlcMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JhInvestmentsDelawareLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479841_3_1">JH Investments (Delaware) LLC.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JhInvestmentsDelawareLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479841_1_1">JH Investments Delaware LLC [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JhInvestmentsDelawareLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479841_2_1">JH Investments (Delaware) LLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JhInvestmentsDelawareLlcMember" xlink:to="mfc_JhInvestmentsDelawareLlcMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JhusaIssuerMember" xlink:label="mfc_JhusaIssuerMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JhusaIssuerMember_lbl" xml:lang="en-US" id="id_14036987_3509078_3_1">JHUSA issuer.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JhusaIssuerMember_lbl" xml:lang="en-US" id="id_14036987_3509078_1_1">JHUSA issuer [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JhusaIssuerMember_lbl" xml:lang="en-US" id="id_14036987_3509078_2_1">JHUSA (Issuer) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JhusaIssuerMember" xlink:to="mfc_JhusaIssuerMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockAdvisersLlcMember" xlink:label="mfc_JohnHancockAdvisersLlcMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockAdvisersLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479779_3_1">John Hancock Advisers, LLC.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockAdvisersLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479779_1_1">John Hancock Advisers LLC [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockAdvisersLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479779_2_1">John Hancock Advisers, LLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockAdvisersLlcMember" xlink:to="mfc_JohnHancockAdvisersLlcMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockDistributorsLlcMember" xlink:label="mfc_JohnHancockDistributorsLlcMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockDistributorsLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479787_3_1">John Hancock Distributors LLC.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockDistributorsLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479787_1_1">John Hancock Distributors LLC [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockDistributorsLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479787_2_1">John Hancock Distributors, LLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockDistributorsLlcMember" xlink:to="mfc_JohnHancockDistributorsLlcMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockFinancialCorporationMember" xlink:label="mfc_JohnHancockFinancialCorporationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockFinancialCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3479781_3_1">John Hancock Financial Corporation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockFinancialCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3479781_1_1">John Hancock Financial Corporation [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockFinancialCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3479781_2_1">John Hancock Financial Corporation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockFinancialCorporationMember" xlink:to="mfc_JohnHancockFinancialCorporationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockFinancialNetworkIncMember" xlink:label="mfc_JohnHancockFinancialNetworkIncMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockFinancialNetworkIncMember_lbl" xml:lang="en-US" id="id_14036987_3479778_3_1">John Hancock Financial Network, Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockFinancialNetworkIncMember_lbl" xml:lang="en-US" id="id_14036987_3479778_1_1">John Hancock Financial Network Inc [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockFinancialNetworkIncMember_lbl" xml:lang="en-US" id="id_14036987_3479778_2_1">John Hancock Financial Network, Inc. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockFinancialNetworkIncMember" xlink:to="mfc_JohnHancockFinancialNetworkIncMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockFundsLlcMember" xlink:label="mfc_JohnHancockFundsLlcMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockFundsLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479780_3_1">John Hancock funds LLC.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockFundsLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479780_1_1">John Hancock Funds LLC [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockFundsLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479780_2_1">John Hancock Funds LLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockFundsLlcMember" xlink:to="mfc_JohnHancockFundsLlcMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockInfrastructureMasterFundLPMember" xlink:label="mfc_JohnHancockInfrastructureMasterFundLPMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockInfrastructureMasterFundLPMember_lbl" xml:lang="en-US" id="id_14036987_3536686_3_1">John Hancock Infrastructure Master Fund LP.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockInfrastructureMasterFundLPMember_lbl" xml:lang="en-US" id="id_14036987_3536686_1_1">John Hancock Infrastructure Master Fund LP [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockInfrastructureMasterFundLPMember_lbl" xml:lang="en-US" id="id_14036987_3536686_2_1">John Hancock Infrastructure Master Fund LP [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockInfrastructureMasterFundLPMember" xlink:to="mfc_JohnHancockInfrastructureMasterFundLPMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockInsuranceAgencyIncMember" xlink:label="mfc_JohnHancockInsuranceAgencyIncMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockInsuranceAgencyIncMember_lbl" xml:lang="en-US" id="id_14036987_3479788_3_1">John Hancock Insurance Agency, Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockInsuranceAgencyIncMember_lbl" xml:lang="en-US" id="id_14036987_3479788_1_1">John Hancock Insurance Agency Inc [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockInsuranceAgencyIncMember_lbl" xml:lang="en-US" id="id_14036987_3479788_2_1">John Hancock Insurance Agency, Inc. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockInsuranceAgencyIncMember" xlink:to="mfc_JohnHancockInsuranceAgencyIncMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockInvestmentManagementServicesLlcMember" xlink:label="mfc_JohnHancockInvestmentManagementServicesLlcMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockInvestmentManagementServicesLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479803_3_1">John Hancock Investment Management Services, LLC .</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockInvestmentManagementServicesLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479803_1_1">John Hancock Investment Management Services LLC [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockInvestmentManagementServicesLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479803_2_1">John Hancock Investment Management Services, LLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockInvestmentManagementServicesLlcMember" xlink:to="mfc_JohnHancockInvestmentManagementServicesLlcMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockLifeHealthInsuranceCompanyMember" xlink:label="mfc_JohnHancockLifeHealthInsuranceCompanyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockLifeHealthInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479786_3_1">John Hancock Life &amp; Health Insurance Company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockLifeHealthInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479786_1_1">John Hancock Life Health Insurance Company [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockLifeHealthInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479786_2_1">John Hancock Life &amp; Health Insurance Company [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockLifeHealthInsuranceCompanyMember" xlink:to="mfc_JohnHancockLifeHealthInsuranceCompanyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockLifeInsuranceCompanyOfNewYorkMember" xlink:label="mfc_JohnHancockLifeInsuranceCompanyOfNewYorkMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockLifeInsuranceCompanyOfNewYorkMember_lbl" xml:lang="en-US" id="id_14036987_3479785_3_1">John Hancock Life Insurance Company of New York.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockLifeInsuranceCompanyOfNewYorkMember_lbl" xml:lang="en-US" id="id_14036987_3479785_1_1">John Hancock Life Insurance Company Of New York [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockLifeInsuranceCompanyOfNewYorkMember_lbl" xml:lang="en-US" id="id_14036987_3479785_2_1">John Hancock Life Insurance Company of New York [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockLifeInsuranceCompanyOfNewYorkMember" xlink:to="mfc_JohnHancockLifeInsuranceCompanyOfNewYorkMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockLifeInsuranceCompanyUsaMember" xlink:label="mfc_JohnHancockLifeInsuranceCompanyUsaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockLifeInsuranceCompanyUsaMember_lbl" xml:lang="en-US" id="id_14036987_3479784_3_1">John Hancock Life Insurance Company (U.S.A.).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockLifeInsuranceCompanyUsaMember_lbl" xml:lang="en-US" id="id_14036987_3479784_1_1">John Hancock Life Insurance Company USA [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockLifeInsuranceCompanyUsaMember_lbl" xml:lang="en-US" id="id_14036987_3479784_2_1">John Hancock Life Insurance Company (U.S.A.) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockLifeInsuranceCompanyUsaMember" xlink:to="mfc_JohnHancockLifeInsuranceCompanyUsaMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockReassuranceCompanyLtdUSAMember" xlink:label="mfc_JohnHancockReassuranceCompanyLtdUSAMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockReassuranceCompanyLtdUSAMember_lbl" xml:lang="en-US" id="id_14036987_3479845_3_1">John Hancock Reassurance Company Ltd.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockReassuranceCompanyLtdUSAMember_lbl" xml:lang="en-US" id="id_14036987_3479845_1_1">John Hancock Reassurance Company Ltd. U.S.A. [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockReassuranceCompanyLtdUSAMember_lbl" xml:lang="en-US" id="id_14036987_3479845_2_1">John Hancock Reassurance Company Ltd. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockReassuranceCompanyLtdUSAMember" xlink:to="mfc_JohnHancockReassuranceCompanyLtdUSAMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_JohnHancockSubsidiariesLlcMember" xlink:label="mfc_JohnHancockSubsidiariesLlcMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_JohnHancockSubsidiariesLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479777_3_1">John Hancock Subsidiaries LLC.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_JohnHancockSubsidiariesLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479777_1_1">John Hancock Subsidiaries LLC [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_JohnHancockSubsidiariesLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479777_2_1">John Hancock Subsidiaries LLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_JohnHancockSubsidiariesLlcMember" xlink:to="mfc_JohnHancockSubsidiariesLlcMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_JP" xlink:label="country_JP"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_JP_lbl" xml:lang="en-US" id="id_14036987_3421905_1_1">JAPAN</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_JP_lbl" xml:lang="en-US" id="id_14036987_3421905_2_1">Japan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_JP" xlink:to="country_JP_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensation" xlink:label="ifrs-full_KeyManagementPersonnelCompensation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensation_lbl" xml:lang="en-US" id="id_14036987_3421270_1_1">Key management personnel compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensation_lbl" xml:lang="en-US" id="id_14036987_3421270_6_1">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensation" xlink:to="ifrs-full_KeyManagementPersonnelCompensation_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits_lbl" xml:lang="en-US" id="id_14036987_3421271_1_1">Key management personnel compensation, other long-term employee benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits_lbl" xml:lang="en-US" id="id_14036987_3421271_2_1">Other long-term benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xml:lang="en-US" id="id_14036987_3421272_1_1">Key management personnel compensation, post-employment benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xml:lang="en-US" id="id_14036987_3421272_2_1">Post-employment benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xml:lang="en-US" id="id_14036987_3421908_1_1">Key management personnel compensation, share-based payment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xml:lang="en-US" id="id_14036987_3421908_2_1">Share-based payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xml:lang="en-US" id="id_14036987_3421022_1_1">Key management personnel compensation, short-term employee benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xml:lang="en-US" id="id_14036987_3421022_2_1">Short-term employee benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits_lbl" xml:lang="en-US" id="id_14036987_3421909_1_1">Key management personnel compensation, termination benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits_lbl" xml:lang="en-US" id="id_14036987_3421909_2_1">Termination benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_KeyMarketRisksAndRiskManagementStrategiesExplanatory" xlink:label="mfc_KeyMarketRisksAndRiskManagementStrategiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_KeyMarketRisksAndRiskManagementStrategiesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3521392_3_1">Key market risks and risk management strategies.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_KeyMarketRisksAndRiskManagementStrategiesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3521392_1_1">Key market risks and risk management strategies [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_KeyMarketRisksAndRiskManagementStrategiesExplanatory_lbl" xml:lang="en-US" id="id_14036987_3521392_2_1">Summary of Risk Management Strategies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_KeyMarketRisksAndRiskManagementStrategiesExplanatory" xlink:to="mfc_KeyMarketRisksAndRiskManagementStrategiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LapsesAndPolicyholderBehaviourMember" xlink:label="mfc_LapsesAndPolicyholderBehaviourMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LapsesAndPolicyholderBehaviourMember_lbl" xml:lang="en-US" id="id_14036987_3479572_3_1">The member stands for lapses and policyholder behaviour.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LapsesAndPolicyholderBehaviourMember_lbl" xml:lang="en-US" id="id_14036987_3479572_1_1">Lapses and policyholder behaviour [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LapsesAndPolicyholderBehaviourMember_lbl" xml:lang="en-US" id="id_14036987_3479572_2_1">Lapses and policyholder behavior [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LapsesAndPolicyholderBehaviourMember" xlink:to="mfc_LapsesAndPolicyholderBehaviourMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LargestSingleIssuerOfEquityPortfolioPercentage" xlink:label="mfc_LargestSingleIssuerOfEquityPortfolioPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LargestSingleIssuerOfEquityPortfolioPercentage_lbl" xml:lang="en-US" id="id_14036987_3526523_3_1">Largest single issuer of equity portfolio percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LargestSingleIssuerOfEquityPortfolioPercentage_lbl" xml:lang="en-US" id="id_14036987_3526523_1_1">Largest Single Issuer Of Equity Portfolio Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LargestSingleIssuerOfEquityPortfolioPercentage_lbl" xml:lang="en-US" id="id_14036987_3526523_2_1">Largest single issuer as a per cent of the total equity portfolio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LargestSingleIssuerOfEquityPortfolioPercentage" xlink:to="mfc_LargestSingleIssuerOfEquityPortfolioPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421915_1_1">Later than five years [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421915_2_1">Over 5 years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421286_1_1">Later than one year and not later than five years [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421286_2_1">1 to 5 years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421287_1_1">Later than one year and not later than three years [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421287_2_1">1 to 3 years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421288_1_1">Later than one year and not later than two years [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421288_2_1">One to two years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearMember" xlink:label="ifrs-full_LaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneYearMember_lbl" xml:lang="en-US" id="id_14036987_3421450_1_1">Later than one year [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearMember_lbl" xml:lang="en-US" id="id_14036987_3421450_2_1">Mature after One year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearMember" xlink:to="ifrs-full_LaterThanOneYearMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeMonthsMember" xlink:label="ifrs-full_LaterThanThreeMonthsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanThreeMonthsMember_lbl" xml:lang="en-US" id="id_14036987_3421033_1_1">Later than three months [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanThreeMonthsMember_lbl" xml:lang="en-US" id="id_14036987_3421033_2_1">90 days and greater [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeMonthsMember" xlink:to="ifrs-full_LaterThanThreeMonthsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421291_1_1">Later than three years and not later than five years [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421291_2_1">3 to 5 years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember" xlink:label="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember_lbl" xml:lang="en-US" id="id_14036987_3421921_1_1">Later than two months and not later than three months [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember_lbl" xml:lang="en-US" id="id_14036987_3421921_2_1">Less than 90 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember" xlink:to="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421294_1_1">Later than two years and not later than three years [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xml:lang="en-US" id="id_14036987_3421294_2_1">Two to three years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LessThanFiftyBasisPointsMember" xlink:label="mfc_LessThanFiftyBasisPointsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LessThanFiftyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489474_3_1">Less than fifty basis points.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LessThanFiftyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489474_1_1">Less than fifty basis points [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LessThanFiftyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489474_2_1">-50bp [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LessThanFiftyBasisPointsMember" xlink:to="mfc_LessThanFiftyBasisPointsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LessThanTenPercentageChangeInMarketValueMember" xlink:label="mfc_LessThanTenPercentageChangeInMarketValueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LessThanTenPercentageChangeInMarketValueMember_lbl" xml:lang="en-US" id="id_14036987_3489478_3_1">Less than ten percentage change in market value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LessThanTenPercentageChangeInMarketValueMember_lbl" xml:lang="en-US" id="id_14036987_3489478_1_1">Less than Ten percentage Change In Market Value [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LessThanTenPercentageChangeInMarketValueMember_lbl" xml:lang="en-US" id="id_14036987_3489478_2_1">-10% [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LessThanTenPercentageChangeInMarketValueMember" xlink:to="mfc_LessThanTenPercentageChangeInMarketValueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LessThanTwentyBasisPointsMember" xlink:label="mfc_LessThanTwentyBasisPointsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LessThanTwentyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489480_3_1">Less than twenty basis points.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LessThanTwentyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489480_1_1">Less than twenty basis points [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LessThanTwentyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489480_2_1">-20bp [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LessThanTwentyBasisPointsMember" xlink:to="mfc_LessThanTwentyBasisPointsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LettersOfCreditOutstandingAmount1" xlink:label="mfc_LettersOfCreditOutstandingAmount1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LettersOfCreditOutstandingAmount1_lbl" xml:lang="en-US" id="id_14036987_3453344_3_1">Letters of credit outstanding amount 1.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LettersOfCreditOutstandingAmount1_lbl" xml:lang="en-US" id="id_14036987_3453344_1_1">Letters of credit outstanding amount 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LettersOfCreditOutstandingAmount1_lbl" xml:lang="en-US" id="id_14036987_3453344_2_1">Letters of credit outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LettersOfCreditOutstandingAmount1" xlink:to="mfc_LettersOfCreditOutstandingAmount1_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xml:lang="en-US" id="id_14036987_3421459_1_1">Level 1 of fair value hierarchy [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xml:lang="en-US" id="id_14036987_3421459_2_1">Level 1 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level1OfFairValueHierarchyMember" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xml:lang="en-US" id="id_14036987_3421934_1_1">Level 2 of fair value hierarchy [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xml:lang="en-US" id="id_14036987_3421934_2_1">Level 2 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level2OfFairValueHierarchyMember" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en-US" id="id_14036987_3421043_1_1">Level 3 of fair value hierarchy [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en-US" id="id_14036987_3421043_2_1">Level 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en-US" id="id_14036987_3421935_1_1">Levels of fair value hierarchy [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en-US" id="id_14036987_3421935_2_1">Levels of fair value hierarchy [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LeveragedLeasesMember" xlink:label="mfc_LeveragedLeasesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LeveragedLeasesMember_lbl" xml:lang="en-US" id="id_14036987_3479893_3_1">Leveraged leases.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LeveragedLeasesMember_lbl" xml:lang="en-US" id="id_14036987_3479893_1_1">Leveraged leases [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LeveragedLeasesMember_lbl" xml:lang="en-US" id="id_14036987_3479893_2_1">Leveraged leases [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LeveragedLeasesMember" xlink:to="mfc_LeveragedLeasesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en-US" id="id_14036987_3421936_1_1">Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en-US" id="id_14036987_3421936_2_1">Fair value of securitized liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en-US" id="id_14036987_3421936_6_1">Total liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilitiesAbstract" xlink:label="ifrs-full_LiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3421303_1_1">Liabilities [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3421303_2_1">Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_LiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilitiesArisingFromInsuranceContracts" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3421305_1_1">Liabilities under insurance contracts and reinsurance contracts issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3421305_4_1">Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3421305_5_1">Beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3421305_32_1">Total, gross of reinsurance ceded</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3421305_2_1">Insurance contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3421305_6_1">Gross insurance contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3421305_12_1">Insurance contract liabilities (note 7)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesArisingFromInsuranceContracts" xlink:to="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LiabilitiesForQualifyingCapitalInstruments" xlink:label="mfc_LiabilitiesForQualifyingCapitalInstruments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LiabilitiesForQualifyingCapitalInstruments_lbl" xml:lang="en-US" id="id_14036987_3447152_3_1">Liabilities for Qualifying Capital Instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LiabilitiesForQualifyingCapitalInstruments_lbl" xml:lang="en-US" id="id_14036987_3447152_1_1">Liabilities for Qualifying Capital Instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LiabilitiesForQualifyingCapitalInstruments_lbl" xml:lang="en-US" id="id_14036987_3447152_2_1">Qualifying capital instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LiabilitiesForQualifyingCapitalInstruments" xlink:to="mfc_LiabilitiesForQualifyingCapitalInstruments_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilitiesFromSharebasedPaymentTransactions2011" xlink:label="ifrs-full_LiabilitiesFromSharebasedPaymentTransactions2011"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesFromSharebasedPaymentTransactions2011_lbl" xml:lang="en-US" id="id_14036987_3421046_1_1">Liabilities from share-based payment transactions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesFromSharebasedPaymentTransactions2011_lbl" xml:lang="en-US" id="id_14036987_3421046_2_1">Amount of the liability relating to equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesFromSharebasedPaymentTransactions2011" xlink:to="ifrs-full_LiabilitiesFromSharebasedPaymentTransactions2011_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3421467_1_1">Net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3421467_4_1">Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3421467_5_1">Beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3421467_2_1">Deficit and net defined benefit liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3421467_12_1">Plan assets set aside for non-qualified cash balance plan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LiabilityhedgingAssetsMember" xlink:label="mfc_LiabilityhedgingAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LiabilityhedgingAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480123_3_1">Liability-hedging assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LiabilityhedgingAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480123_1_1">Liability-hedging assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LiabilityhedgingAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480123_2_1">Liability-hedging assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LiabilityhedgingAssetsMember" xlink:to="mfc_LiabilityhedgingAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LifeAndHealthInsuranceMember" xlink:label="mfc_LifeAndHealthInsuranceMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LifeAndHealthInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3480218_3_1">Life and health insurance.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LifeAndHealthInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3480218_1_1">Life and health insurance [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LifeAndHealthInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3480218_2_1">Life and health insurance [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LifeAndHealthInsuranceMember" xlink:to="mfc_LifeAndHealthInsuranceMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LifeExpectancyInYearsAtAgeSixtyFiveForThoseCurrentlyAgeFortyFiveMember" xlink:label="mfc_LifeExpectancyInYearsAtAgeSixtyFiveForThoseCurrentlyAgeFortyFiveMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LifeExpectancyInYearsAtAgeSixtyFiveForThoseCurrentlyAgeFortyFiveMember_lbl" xml:lang="en-US" id="id_14036987_3480205_3_1">Life expectancy (in years) at age 65 for those currently age 45.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LifeExpectancyInYearsAtAgeSixtyFiveForThoseCurrentlyAgeFortyFiveMember_lbl" xml:lang="en-US" id="id_14036987_3480205_1_1">Life expectancy (in years) at age Sixty Five for those currently age Forty Five [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LifeExpectancyInYearsAtAgeSixtyFiveForThoseCurrentlyAgeFortyFiveMember_lbl" xml:lang="en-US" id="id_14036987_3480205_2_1">Life expectancy (in years) at age 65 for those currently age 45 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LifeExpectancyInYearsAtAgeSixtyFiveForThoseCurrentlyAgeFortyFiveMember" xlink:to="mfc_LifeExpectancyInYearsAtAgeSixtyFiveForThoseCurrentlyAgeFortyFiveMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LifeExpectancyInYearsForThoseCurrentlyAgeSixtyFiveMember" xlink:label="mfc_LifeExpectancyInYearsForThoseCurrentlyAgeSixtyFiveMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LifeExpectancyInYearsForThoseCurrentlyAgeSixtyFiveMember_lbl" xml:lang="en-US" id="id_14036987_3480204_3_1">Life expectancy (in years) for those currently age 65.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LifeExpectancyInYearsForThoseCurrentlyAgeSixtyFiveMember_lbl" xml:lang="en-US" id="id_14036987_3480204_1_1">Life expectancy (in years) for those currently age Sixty Five [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LifeExpectancyInYearsForThoseCurrentlyAgeSixtyFiveMember_lbl" xml:lang="en-US" id="id_14036987_3480204_2_1">Life expectancy (in years) for those currently age 65 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LifeExpectancyInYearsForThoseCurrentlyAgeSixtyFiveMember" xlink:to="mfc_LifeExpectancyInYearsForThoseCurrentlyAgeSixtyFiveMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LifeInsuranceContractsMember" xlink:label="ifrs-full_LifeInsuranceContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LifeInsuranceContractsMember_lbl" xml:lang="en-US" id="id_14036987_3421944_1_1">Life insurance contracts [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LifeInsuranceContractsMember_lbl" xml:lang="en-US" id="id_14036987_3421944_2_1">Life insurance contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LifeInsuranceContractsMember" xlink:to="ifrs-full_LifeInsuranceContractsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LineOfCreditFacilityMaximumBorrowingCapacity1" xlink:label="mfc_LineOfCreditFacilityMaximumBorrowingCapacity1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LineOfCreditFacilityMaximumBorrowingCapacity1_lbl" xml:lang="en-US" id="id_14036987_3450170_3_1">Line Of Credit Facility Maximum Borrowing Capacity 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LineOfCreditFacilityMaximumBorrowingCapacity1_lbl" xml:lang="en-US" id="id_14036987_3450170_1_1">Line Of Credit Facility Maximum Borrowing Capacity 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LineOfCreditFacilityMaximumBorrowingCapacity1_lbl" xml:lang="en-US" id="id_14036987_3450170_2_1">Estimated maximum borrowing capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LineOfCreditFacilityMaximumBorrowingCapacity1" xlink:to="mfc_LineOfCreditFacilityMaximumBorrowingCapacity1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LiquidityRiskManagementRiskManagementStrategy" xlink:label="mfc_LiquidityRiskManagementRiskManagementStrategy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LiquidityRiskManagementRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3540713_3_1">Liquidity risk management risk management strategy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LiquidityRiskManagementRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3540713_1_1">Liquidity risk management risk management strategy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LiquidityRiskManagementRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3540713_2_1">Liquidity risk management</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LiquidityRiskManagementRiskManagementStrategy" xlink:to="mfc_LiquidityRiskManagementRiskManagementStrategy_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiquidityRiskMember" xlink:label="ifrs-full_LiquidityRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiquidityRiskMember_lbl" xml:lang="en-US" id="id_14036987_3421474_1_1">Liquidity risk [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiquidityRiskMember_lbl" xml:lang="en-US" id="id_14036987_3421474_2_1">Liquidity Risk [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiquidityRiskMember" xlink:to="ifrs-full_LiquidityRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LitigationPreliminarySettlementAmountGrantedByCourt" xlink:label="mfc_LitigationPreliminarySettlementAmountGrantedByCourt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LitigationPreliminarySettlementAmountGrantedByCourt_lbl" xml:lang="en-US" id="id_14036987_3529185_3_1">Litigation preliminary settlement amount granted by court.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LitigationPreliminarySettlementAmountGrantedByCourt_lbl" xml:lang="en-US" id="id_14036987_3529185_1_1">Litigation preliminary settlement amount granted by court</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LitigationPreliminarySettlementAmountGrantedByCourt_lbl" xml:lang="en-US" id="id_14036987_3529185_2_1">Legal settlement amount granted by court</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LitigationPreliminarySettlementAmountGrantedByCourt" xlink:to="mfc_LitigationPreliminarySettlementAmountGrantedByCourt_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LivingBenefitsMember" xlink:label="mfc_LivingBenefitsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LivingBenefitsMember_lbl" xml:lang="en-US" id="id_14036987_3492584_3_1">Living benefits.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LivingBenefitsMember_lbl" xml:lang="en-US" id="id_14036987_3492584_1_1">Living benefits [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LivingBenefitsMember_lbl" xml:lang="en-US" id="id_14036987_3492584_2_1">Living benefits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LivingBenefitsMember" xlink:to="mfc_LivingBenefitsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LoansAndAdvancesToCustomers" xlink:label="ifrs-full_LoansAndAdvancesToCustomers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LoansAndAdvancesToCustomers_lbl" xml:lang="en-US" id="id_14036987_3421322_1_1">Loans and advances to customers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LoansAndAdvancesToCustomers_lbl" xml:lang="en-US" id="id_14036987_3421322_2_1">Loans to bank clients</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LoansAndAdvancesToCustomers" xlink:to="ifrs-full_LoansAndAdvancesToCustomers_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LoansToBankClientsMember" xlink:label="mfc_LoansToBankClientsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LoansToBankClientsMember_lbl" xml:lang="en-US" id="id_14036987_3478998_3_1">Loans to Bank clients.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LoansToBankClientsMember_lbl" xml:lang="en-US" id="id_14036987_3478998_1_1">Loans to bank clients [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LoansToBankClientsMember_lbl" xml:lang="en-US" id="id_14036987_3478998_2_1">Loans to Bank clients [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LoansToBankClientsMember" xlink:to="mfc_LoansToBankClientsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LongtermBorrowings_lbl" xml:lang="en-US" id="id_14036987_3421479_1_1">Non-current portion of non-current borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_LongtermBorrowings_lbl" xml:lang="en-US" id="id_14036987_3421479_32_1">Long-term debt (note 10)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LongtermBorrowings_lbl" xml:lang="en-US" id="id_14036987_3421479_2_1">Debt outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LongtermBorrowings_lbl" xml:lang="en-US" id="id_14036987_3421479_12_1">Long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermBorrowings" xlink:to="ifrs-full_LongtermBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LongTermBorrowingsFairValue" xlink:label="mfc_LongTermBorrowingsFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LongTermBorrowingsFairValue_lbl" xml:lang="en-US" id="id_14036987_3453737_3_1">Long term borrowings fair value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LongTermBorrowingsFairValue_lbl" xml:lang="en-US" id="id_14036987_3453737_1_1">Long term borrowings fair value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LongTermBorrowingsFairValue_lbl" xml:lang="en-US" id="id_14036987_3453737_2_1">Fair value of long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LongTermBorrowingsFairValue" xlink:to="mfc_LongTermBorrowingsFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_LongTermCareMember" xlink:label="mfc_LongTermCareMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_LongTermCareMember_lbl" xml:lang="en-US" id="id_14036987_3541956_3_1">Long term care.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_LongTermCareMember_lbl" xml:lang="en-US" id="id_14036987_3541956_1_1">Long term care [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_LongTermCareMember_lbl" xml:lang="en-US" id="id_14036987_3541956_2_1">Long term care [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_LongTermCareMember" xlink:to="mfc_LongTermCareMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LossesOnLitigationSettlements" xlink:label="ifrs-full_LossesOnLitigationSettlements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LossesOnLitigationSettlements_lbl" xml:lang="en-US" id="id_14036987_3421072_1_1">Losses on litigation settlements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LossesOnLitigationSettlements_lbl" xml:lang="en-US" id="id_14036987_3421072_2_1">Legal settlement amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LossesOnLitigationSettlements" xlink:to="ifrs-full_LossesOnLitigationSettlements_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MacroEquityRiskHedgingRiskManagementStrategy" xlink:label="mfc_MacroEquityRiskHedgingRiskManagementStrategy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MacroEquityRiskHedgingRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514665_3_1">Percentage of macro equity risk hedging risk management strategy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MacroEquityRiskHedgingRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514665_1_1">Macro Equity Risk Hedging Risk Management Strategy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MacroEquityRiskHedgingRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514665_2_1">Macro equity risk hedging</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MacroEquityRiskHedgingRiskManagementStrategy" xlink:to="mfc_MacroEquityRiskHedgingRiskManagementStrategy_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MajorClassesOfCommercialMortgagesAxis" xlink:label="mfc_MajorClassesOfCommercialMortgagesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MajorClassesOfCommercialMortgagesAxis_lbl" xml:lang="en-US" id="id_14036987_3475698_3_1">Major classes of commercial mortgages.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MajorClassesOfCommercialMortgagesAxis_lbl" xml:lang="en-US" id="id_14036987_3475698_1_1">Major Classes Of Commercial Mortgages [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MajorClassesOfCommercialMortgagesAxis_lbl" xml:lang="en-US" id="id_14036987_3475698_2_1">Major Classes Of Commercial Mortgages [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MajorClassesOfCommercialMortgagesAxis" xlink:to="mfc_MajorClassesOfCommercialMortgagesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MajorClassesOfCommercialMortgagesMember" xlink:label="mfc_MajorClassesOfCommercialMortgagesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MajorClassesOfCommercialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3489233_3_1">Major Classes Of Commercial Mortgages [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MajorClassesOfCommercialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3489233_1_1">Major Classes Of Commercial Mortgages [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MajorClassesOfCommercialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3489233_2_1">Major Classes Of Commercial Mortgages [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MajorClassesOfCommercialMortgagesMember" xlink:to="mfc_MajorClassesOfCommercialMortgagesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3421961_1_1">Major components of tax expense (income) [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3421961_2_1">Major components of tax expense (income) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:to="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MajorCustomersAxis" xlink:label="ifrs-full_MajorCustomersAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MajorCustomersAxis_lbl" xml:lang="en-US" id="id_14036987_3421962_1_1">Major customers [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MajorCustomersAxis_lbl" xml:lang="en-US" id="id_14036987_3421962_2_1">Major customers [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MajorCustomersAxis" xlink:to="ifrs-full_MajorCustomersAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MajorCustomersMember" xlink:label="ifrs-full_MajorCustomersMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MajorCustomersMember_lbl" xml:lang="en-US" id="id_14036987_3421338_1_1">Customers [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MajorCustomersMember_lbl" xml:lang="en-US" id="id_14036987_3421338_2_1">Customers [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MajorCustomersMember" xlink:to="ifrs-full_MajorCustomersMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MajorOrdinaryShareTransactionsMember" xlink:label="ifrs-full_MajorOrdinaryShareTransactionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MajorOrdinaryShareTransactionsMember_lbl" xml:lang="en-US" id="id_14036987_3421490_1_1">Major ordinary share transactions [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MajorOrdinaryShareTransactionsMember_lbl" xml:lang="en-US" id="id_14036987_3421490_2_1">Major ordinary share transactions [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MajorOrdinaryShareTransactionsMember" xlink:to="ifrs-full_MajorOrdinaryShareTransactionsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MaleMember" xlink:label="mfc_MaleMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MaleMember_lbl" xml:lang="en-US" id="id_14036987_3477398_3_1">Male [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MaleMember_lbl" xml:lang="en-US" id="id_14036987_3477398_1_1">Male [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MaleMember_lbl" xml:lang="en-US" id="id_14036987_3477398_2_1">Male [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MaleMember" xlink:to="mfc_MaleMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManufacturersLifeInsuranceCompanyMember" xlink:label="mfc_ManufacturersLifeInsuranceCompanyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManufacturersLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3480064_3_1">Manufacturers life insurance company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManufacturersLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3480064_1_1">Manufacturers life insurance company [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManufacturersLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3480064_2_1">Manufacturers life insurance company [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManufacturersLifeInsuranceCompanyMember" xlink:to="mfc_ManufacturersLifeInsuranceCompanyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManufacturersLifeInsuranceMember" xlink:label="mfc_ManufacturersLifeInsuranceMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManufacturersLifeInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3480214_3_1">Manufacturers life insurance.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManufacturersLifeInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3480214_1_1">Manufacturers Life Insurance [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManufacturersLifeInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3480214_2_1">MLI consolidated [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManufacturersLifeInsuranceMember" xlink:to="mfc_ManufacturersLifeInsuranceMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManufacturersLifeReinsuranceLimitedMember" xlink:label="mfc_ManufacturersLifeReinsuranceLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManufacturersLifeReinsuranceLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479792_3_1">Manufacturers Life Reinsurance Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManufacturersLifeReinsuranceLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479792_1_1">Manufacturers Life Reinsurance Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManufacturersLifeReinsuranceLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479792_2_1">Manufacturers Life Reinsurance Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManufacturersLifeReinsuranceLimitedMember" xlink:to="mfc_ManufacturersLifeReinsuranceLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManufacturersPcLimitedMember" xlink:label="mfc_ManufacturersPcLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManufacturersPcLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479801_3_1">Manufacturers P &amp; C Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManufacturersPcLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479801_1_1">Manufacturers PC Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManufacturersPcLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479801_2_1">Manufacturers P &amp; C Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManufacturersPcLimitedMember" xlink:to="mfc_ManufacturersPcLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementEuropeLimitedMember" xlink:label="mfc_ManulifeAssetManagementEuropeLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementEuropeLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479817_3_1">Manulife Asset Management (Europe) Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementEuropeLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479817_1_1">Manulife Asset Management Europe Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementEuropeLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479817_2_1">Manulife Asset Management (Europe) Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementEuropeLimitedMember" xlink:to="mfc_ManulifeAssetManagementEuropeLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementHoldingsCanadaIncMember" xlink:label="mfc_ManulifeAssetManagementHoldingsCanadaIncMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementHoldingsCanadaIncMember_lbl" xml:lang="en-US" id="id_14036987_3479811_3_1">Manulife Asset Management Holdings (Canada) Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementHoldingsCanadaIncMember_lbl" xml:lang="en-US" id="id_14036987_3479811_1_1">Manulife Asset Management Holdings Canada Inc [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementHoldingsCanadaIncMember_lbl" xml:lang="en-US" id="id_14036987_3479811_2_1">Manulife Asset Management Holdings (Canada) Inc. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementHoldingsCanadaIncMember" xlink:to="mfc_ManulifeAssetManagementHoldingsCanadaIncMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementHongKongLimitedMember" xlink:label="mfc_ManulifeAssetManagementHongKongLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementHongKongLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479837_3_1">Manulife Asset Management (Hong Kong) Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementHongKongLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479837_1_1">Manulife Asset Management Hong Kong Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementHongKongLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479837_2_1">Manulife Asset Management (Hong Kong) Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementHongKongLimitedMember" xlink:to="mfc_ManulifeAssetManagementHongKongLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementInternationalHoldingsLimitedMember" xlink:label="mfc_ManulifeAssetManagementInternationalHoldingsLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementInternationalHoldingsLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479836_3_1">Manulife Asset Management International Holdings Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementInternationalHoldingsLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479836_1_1">Manulife Asset Management International Holdings Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementInternationalHoldingsLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479836_2_1">Manulife Asset Management International Holdings Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementInternationalHoldingsLimitedMember" xlink:to="mfc_ManulifeAssetManagementInternationalHoldingsLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementJapanLimitedMember" xlink:label="mfc_ManulifeAssetManagementJapanLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementJapanLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479816_3_1">Manulife Asset Management (Japan) Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementJapanLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479816_1_1">Manulife Asset Management Japan Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementJapanLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479816_2_1">Manulife Asset Management (Japan) Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementJapanLimitedMember" xlink:to="mfc_ManulifeAssetManagementJapanLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementLimitedMember" xlink:label="mfc_ManulifeAssetManagementLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479812_3_1">Manulife Asset Management Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479812_1_1">Manulife Asset Management Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479812_2_1">Manulife Asset Management Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementLimitedMember" xlink:to="mfc_ManulifeAssetManagementLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementNorthAmericaLimitedMember" xlink:label="mfc_ManulifeAssetManagementNorthAmericaLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementNorthAmericaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479843_3_1">Manulife Asset Management (North America) Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementNorthAmericaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479843_1_1">Manulife Asset Management North America Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementNorthAmericaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479843_2_1">Manulife Asset Management (North America) Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementNorthAmericaLimitedMember" xlink:to="mfc_ManulifeAssetManagementNorthAmericaLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementServicesBerhadMember" xlink:label="mfc_ManulifeAssetManagementServicesBerhadMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementServicesBerhadMember_lbl" xml:lang="en-US" id="id_14036987_3479826_3_1">Manulife Asset Management Services Berhad.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementServicesBerhadMember_lbl" xml:lang="en-US" id="id_14036987_3479826_1_1">Manulife Asset Management Services Berhad [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementServicesBerhadMember_lbl" xml:lang="en-US" id="id_14036987_3479826_2_1">Manulife Asset Management Services Berhad [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementServicesBerhadMember" xlink:to="mfc_ManulifeAssetManagementServicesBerhadMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementSingaporePteLtdMember" xlink:label="mfc_ManulifeAssetManagementSingaporePteLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementSingaporePteLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479829_3_1">Manulife Asset Management (Singapore) Pte. Ltd.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementSingaporePteLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479829_1_1">Manulife Asset Management Singapore Pte Ltd [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementSingaporePteLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479829_2_1">Manulife Asset Management (Singapore) Pte. Ltd. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementSingaporePteLtdMember" xlink:to="mfc_ManulifeAssetManagementSingaporePteLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementTaiwanCoLtdMember" xlink:label="mfc_ManulifeAssetManagementTaiwanCoLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementTaiwanCoLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479838_3_1">Manulife Asset Management (Taiwan) Co., Ltd.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementTaiwanCoLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479838_1_1">Manulife Asset Management Taiwan Co Ltd [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementTaiwanCoLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479838_2_1">Manulife Asset Management (Taiwan) Co., Ltd. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementTaiwanCoLtdMember" xlink:to="mfc_ManulifeAssetManagementTaiwanCoLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementThailandCompanyLimitedMember" xlink:label="mfc_ManulifeAssetManagementThailandCompanyLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementThailandCompanyLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479823_3_1">Manulife Asset Management (Thailand) Company Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementThailandCompanyLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479823_1_1">Manulife Asset Management Thailand Company Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementThailandCompanyLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479823_2_1">Manulife Asset Management (Thailand) Company Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementThailandCompanyLimitedMember" xlink:to="mfc_ManulifeAssetManagementThailandCompanyLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementUsLlcMember" xlink:label="mfc_ManulifeAssetManagementUsLlcMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementUsLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479713_3_1">Manulife Asset Management (US) LLC.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementUsLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479713_1_1">Manulife Asset Management US LLC [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementUsLlcMember_lbl" xml:lang="en-US" id="id_14036987_3479713_2_1">Manulife Asset Management (U.S.) LLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementUsLlcMember" xlink:to="mfc_ManulifeAssetManagementUsLlcMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssetManagementVietnamCompanyLimitedMember" xlink:label="mfc_ManulifeAssetManagementVietnamCompanyLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssetManagementVietnamCompanyLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3529678_3_1">Manulife Asset Management (Vietnam) Company Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssetManagementVietnamCompanyLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3529678_1_1">Manulife Asset Management Vietnam Company Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssetManagementVietnamCompanyLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3529678_2_1">Manulife Asset Management (Vietnam) Company Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssetManagementVietnamCompanyLimitedMember" xlink:to="mfc_ManulifeAssetManagementVietnamCompanyLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeAssuranceCompanyOfCanadaMember" xlink:label="mfc_ManulifeAssuranceCompanyOfCanadaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeAssuranceCompanyOfCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3531066_3_1">Manulife Assurance Company of Canada.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeAssuranceCompanyOfCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3531066_1_1">Manulife Assurance Company of Canada [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeAssuranceCompanyOfCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3531066_2_1">Manulife Assurance Company of Canada [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeAssuranceCompanyOfCanadaMember" xlink:to="mfc_ManulifeAssuranceCompanyOfCanadaMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeBankofCanadaMember" xlink:label="mfc_ManulifeBankofCanadaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeBankofCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3479810_3_1">Manulife Bank of Canada.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeBankofCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3479810_1_1">Manulife Bankof Canada [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeBankofCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3479810_2_1">Manulife Bank of Canada [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeBankofCanadaMember" xlink:to="mfc_ManulifeBankofCanadaMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeCambodiaPlcMember" xlink:label="mfc_ManulifeCambodiaPlcMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeCambodiaPlcMember_lbl" xml:lang="en-US" id="id_14036987_3479791_3_1">Manulife (Cambodia) PLC.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeCambodiaPlcMember_lbl" xml:lang="en-US" id="id_14036987_3479791_1_1">Manulife Cambodia PLC [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeCambodiaPlcMember_lbl" xml:lang="en-US" id="id_14036987_3479791_2_1">Manulife (Cambodia) PLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeCambodiaPlcMember" xlink:to="mfc_ManulifeCambodiaPlcMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeChinabankLifeAssuranceCorporationMember" xlink:label="mfc_ManulifeChinabankLifeAssuranceCorporationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeChinabankLifeAssuranceCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3530788_3_1">Manulife Chinabank Life Assurance Corporation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeChinabankLifeAssuranceCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3530788_1_1">Manulife Chinabank Life Assurance Corporation [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeChinabankLifeAssuranceCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3530788_2_1">Manulife Chinabank Life Assurance Corporation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeChinabankLifeAssuranceCorporationMember" xlink:to="mfc_ManulifeChinabankLifeAssuranceCorporationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeFinanceLPMember" xlink:label="mfc_ManulifeFinanceLPMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeFinanceLPMember_lbl" xml:lang="en-US" id="id_14036987_3480149_3_1">Manulife finance (Delaware), L.P.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeFinanceLPMember_lbl" xml:lang="en-US" id="id_14036987_3480149_1_1">Manulife Finance (Delaware), L.P. [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeFinanceLPMember_lbl" xml:lang="en-US" id="id_14036987_3480149_2_1">Manulife Finance (Delaware), L.P.[Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeFinanceLPMember" xlink:to="mfc_ManulifeFinanceLPMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeFinancialAsiaLimitedMember" xlink:label="mfc_ManulifeFinancialAsiaLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeFinancialAsiaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479835_3_1">Manulife Financial Asia Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeFinancialAsiaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479835_1_1">Manulife Financial Asia Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeFinancialAsiaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479835_2_1">Manulife Financial Asia Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeFinancialAsiaLimitedMember" xlink:to="mfc_ManulifeFinancialAsiaLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeFinancialCapitalTrustIIMember" xlink:label="mfc_ManulifeFinancialCapitalTrustIIMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeFinancialCapitalTrustIIMember_lbl" xml:lang="en-US" id="id_14036987_3480206_3_1">Manulife financial capital trust II.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeFinancialCapitalTrustIIMember_lbl" xml:lang="en-US" id="id_14036987_3480206_1_1">Manulife Financial Capital Trust II [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeFinancialCapitalTrustIIMember_lbl" xml:lang="en-US" id="id_14036987_3480206_2_1">Manulife Financial Capital Trust II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeFinancialCapitalTrustIIMember" xlink:to="mfc_ManulifeFinancialCapitalTrustIIMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeFinancialCorporationMember" xlink:label="mfc_ManulifeFinancialCorporationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeFinancialCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3480213_3_1">Manulife financial corporation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeFinancialCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3480213_1_1">Manulife Financial Corporation [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeFinancialCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3480213_2_1">MFC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeFinancialCorporationMember" xlink:to="mfc_ManulifeFinancialCorporationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeHoldingsAlbertaLimitedMember" xlink:label="mfc_ManulifeHoldingsAlbertaLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeHoldingsAlbertaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479773_3_1">Manulife Holdings (Alberta) Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeHoldingsAlbertaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479773_1_1">Manulife Holdings Alberta Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeHoldingsAlbertaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479773_2_1">Manulife Holdings (Alberta) Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeHoldingsAlbertaLimitedMember" xlink:to="mfc_ManulifeHoldingsAlbertaLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeHoldingsBerhadMember" xlink:label="mfc_ManulifeHoldingsBerhadMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeHoldingsBerhadMember_lbl" xml:lang="en-US" id="id_14036987_3479824_3_1">Manulife Holdings Berhad.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeHoldingsBerhadMember_lbl" xml:lang="en-US" id="id_14036987_3479824_1_1">Manulife Holdings Berhad [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeHoldingsBerhadMember_lbl" xml:lang="en-US" id="id_14036987_3479824_2_1">Manulife Holdings Berhad [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeHoldingsBerhadMember" xlink:to="mfc_ManulifeHoldingsBerhadMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeHoldingsBermudaLimitedMember" xlink:label="mfc_ManulifeHoldingsBermudaLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeHoldingsBermudaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479799_3_1">Manulife Holdings (Bermuda) Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeHoldingsBermudaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479799_1_1">Manulife Holdings Bermuda Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeHoldingsBermudaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479799_2_1">Manulife Holdings (Bermuda) Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeHoldingsBermudaLimitedMember" xlink:to="mfc_ManulifeHoldingsBermudaLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeInsuranceBerhadMember" xlink:label="mfc_ManulifeInsuranceBerhadMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeInsuranceBerhadMember_lbl" xml:lang="en-US" id="id_14036987_3479825_3_1">Manulife Insurance Berhad.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeInsuranceBerhadMember_lbl" xml:lang="en-US" id="id_14036987_3479825_1_1">Manulife Insurance Berhad [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeInsuranceBerhadMember_lbl" xml:lang="en-US" id="id_14036987_3479825_2_1">Manulife Insurance Berhad [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeInsuranceBerhadMember" xlink:to="mfc_ManulifeInsuranceBerhadMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeInsuranceThailandPublicCompanyLimitedMember" xlink:label="mfc_ManulifeInsuranceThailandPublicCompanyLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeInsuranceThailandPublicCompanyLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479822_3_1">Manulife Insurance (Thailand) Public Company Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeInsuranceThailandPublicCompanyLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479822_1_1">Manulife Insurance Thailand Public Company Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeInsuranceThailandPublicCompanyLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479822_2_1">Manulife Insurance (Thailand) Public Company Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeInsuranceThailandPublicCompanyLimitedMember" xlink:to="mfc_ManulifeInsuranceThailandPublicCompanyLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeInternationalHoldingsLimitedMember" xlink:label="mfc_ManulifeInternationalHoldingsLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeInternationalHoldingsLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479832_3_1">Manulife International Holdings Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeInternationalHoldingsLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479832_1_1">Manulife International Holdings Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeInternationalHoldingsLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479832_2_1">Manulife International Holdings Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeInternationalHoldingsLimitedMember" xlink:to="mfc_ManulifeInternationalHoldingsLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeInternationalLimitedMember" xlink:label="mfc_ManulifeInternationalLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeInternationalLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479833_3_1">Manulife (International) Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeInternationalLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479833_1_1">Manulife International Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeInternationalLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479833_2_1">Manulife (International) Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeInternationalLimitedMember" xlink:to="mfc_ManulifeInternationalLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeLifeInsuranceCompanyMember" xlink:label="mfc_ManulifeLifeInsuranceCompanyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479839_3_1">Manulife Life Insurance Company (Japan).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479839_1_1">Manulife Life Insurance Company [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479839_2_1">Manulife Life Insurance Company (Japan) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeLifeInsuranceCompanyMember" xlink:to="mfc_ManulifeLifeInsuranceCompanyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifePropertyLimitedPartnershipIiMember" xlink:label="mfc_ManulifePropertyLimitedPartnershipIiMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifePropertyLimitedPartnershipIiMember_lbl" xml:lang="en-US" id="id_14036987_3479795_3_1">Manulife Property Limited Partnership II.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifePropertyLimitedPartnershipIiMember_lbl" xml:lang="en-US" id="id_14036987_3479795_1_1">Manulife Property Limited Partnership II [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifePropertyLimitedPartnershipIiMember_lbl" xml:lang="en-US" id="id_14036987_3479795_2_1">Manulife Property Limited Partnership II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifePropertyLimitedPartnershipIiMember" xlink:to="mfc_ManulifePropertyLimitedPartnershipIiMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifePropertyLimitedPartnershipMember" xlink:label="mfc_ManulifePropertyLimitedPartnershipMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifePropertyLimitedPartnershipMember_lbl" xml:lang="en-US" id="id_14036987_3479802_3_1">Manulife Property Limited Partnership.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifePropertyLimitedPartnershipMember_lbl" xml:lang="en-US" id="id_14036987_3479802_1_1">Manulife Property Limited Partnership [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifePropertyLimitedPartnershipMember_lbl" xml:lang="en-US" id="id_14036987_3479802_2_1">Manulife Property Limited Partnership [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifePropertyLimitedPartnershipMember" xlink:to="mfc_ManulifePropertyLimitedPartnershipMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeReinsuranceBermudaLimitedMember" xlink:label="mfc_ManulifeReinsuranceBermudaLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeReinsuranceBermudaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479809_3_1">Manulife Reinsurance (Bermuda) Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeReinsuranceBermudaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479809_1_1">Manulife Reinsurance Bermuda Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeReinsuranceBermudaLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479809_2_1">Manulife Reinsurance (Bermuda) Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeReinsuranceBermudaLimitedMember" xlink:to="mfc_ManulifeReinsuranceBermudaLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeReinsuranceLimitedMember" xlink:label="mfc_ManulifeReinsuranceLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeReinsuranceLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479808_3_1">Manulife Reinsurance Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeReinsuranceLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479808_1_1">Manulife Reinsurance Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeReinsuranceLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479808_2_1">Manulife Reinsurance Limited [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeReinsuranceLimitedMember" xlink:to="mfc_ManulifeReinsuranceLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeResourcesLimitedMember" xlink:label="mfc_ManulifeResourcesLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeResourcesLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479815_3_1">Manulife Resources Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeResourcesLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479815_1_1">Manulife Resources Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeResourcesLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479815_2_1">Manulife Resources Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeResourcesLimitedMember" xlink:to="mfc_ManulifeResourcesLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeSecuritiesIncorporatedMember" xlink:label="mfc_ManulifeSecuritiesIncorporatedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeSecuritiesIncorporatedMember_lbl" xml:lang="en-US" id="id_14036987_3479842_3_1">Manulife Securities Incorporated.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeSecuritiesIncorporatedMember_lbl" xml:lang="en-US" id="id_14036987_3479842_1_1">Manulife Securities Incorporated [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeSecuritiesIncorporatedMember_lbl" xml:lang="en-US" id="id_14036987_3479842_2_1">Manulife Securities Incorporated [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeSecuritiesIncorporatedMember" xlink:to="mfc_ManulifeSecuritiesIncorporatedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeSecuritiesInvestmentServicesIncMember" xlink:label="mfc_ManulifeSecuritiesInvestmentServicesIncMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeSecuritiesInvestmentServicesIncMember_lbl" xml:lang="en-US" id="id_14036987_3479797_3_1">Manulife Securities Investment Services Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeSecuritiesInvestmentServicesIncMember_lbl" xml:lang="en-US" id="id_14036987_3479797_1_1">Manulife Securities Investment Services Inc [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeSecuritiesInvestmentServicesIncMember_lbl" xml:lang="en-US" id="id_14036987_3479797_2_1">Manulife Securities Investment Services Inc. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeSecuritiesInvestmentServicesIncMember" xlink:to="mfc_ManulifeSecuritiesInvestmentServicesIncMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeSingaporePteLtdMember" xlink:label="mfc_ManulifeSingaporePteLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeSingaporePteLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479828_3_1">Manulife (Singapore) Pte. Ltd.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeSingaporePteLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479828_1_1">Manulife Singapore Pte Ltd [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeSingaporePteLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479828_2_1">Manulife (Singapore) Pte. Ltd. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeSingaporePteLtdMember" xlink:to="mfc_ManulifeSingaporePteLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeSinochemLifeInsuranceCoLtdMember" xlink:label="mfc_ManulifeSinochemLifeInsuranceCoLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeSinochemLifeInsuranceCoLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479831_3_1">Manulife-Sinochem Life Insurance Co. Ltd.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeSinochemLifeInsuranceCoLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479831_1_1">Manulife Sinochem Life Insurance Co Ltd [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeSinochemLifeInsuranceCoLtdMember_lbl" xml:lang="en-US" id="id_14036987_3479831_2_1">Manulife-Sinochem Life Insurance Co. Ltd. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeSinochemLifeInsuranceCoLtdMember" xlink:to="mfc_ManulifeSinochemLifeInsuranceCoLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeUSRealEstateInvestmentTrustMember" xlink:label="mfc_ManulifeUSRealEstateInvestmentTrustMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeUSRealEstateInvestmentTrustMember_lbl" xml:lang="en-US" id="id_14036987_3536688_3_1">Manulife US Real Estate Investment Trust.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeUSRealEstateInvestmentTrustMember_lbl" xml:lang="en-US" id="id_14036987_3536688_1_1">Manulife Us Real Estate Investment Trust [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeUSRealEstateInvestmentTrustMember_lbl" xml:lang="en-US" id="id_14036987_3536688_2_1">Manulife Us Real Estate Investment Trust [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeUSRealEstateInvestmentTrustMember" xlink:to="mfc_ManulifeUSRealEstateInvestmentTrustMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeVietnamLimitedMember" xlink:label="mfc_ManulifeVietnamLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeVietnamLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479793_3_1">Manulife (Vietnam) Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeVietnamLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479793_1_1">Manulife Vietnam Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeVietnamLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479793_2_1">Manulife (Vietnam) Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeVietnamLimitedMember" xlink:to="mfc_ManulifeVietnamLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ManulifeWesternHoldingsLimitedPartnershipMember" xlink:label="mfc_ManulifeWesternHoldingsLimitedPartnershipMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ManulifeWesternHoldingsLimitedPartnershipMember_lbl" xml:lang="en-US" id="id_14036987_3479805_3_1">Manulife Western Holdings Limited Partnership.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ManulifeWesternHoldingsLimitedPartnershipMember_lbl" xml:lang="en-US" id="id_14036987_3479805_1_1">Manulife Western Holdings Limited Partnership [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ManulifeWesternHoldingsLimitedPartnershipMember_lbl" xml:lang="en-US" id="id_14036987_3479805_2_1">Manulife Western Holdings Limited Partnership [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ManulifeWesternHoldingsLimitedPartnershipMember" xlink:to="mfc_ManulifeWesternHoldingsLimitedPartnershipMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MaturityAndSurrenderBenefitsMember" xlink:label="mfc_MaturityAndSurrenderBenefitsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MaturityAndSurrenderBenefitsMember_lbl" xml:lang="en-US" id="id_14036987_3479629_3_1">The member stands for maturity and surrender benefits.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MaturityAndSurrenderBenefitsMember_lbl" xml:lang="en-US" id="id_14036987_3479629_1_1">Maturity and surrender benefits [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MaturityAndSurrenderBenefitsMember_lbl" xml:lang="en-US" id="id_14036987_3479629_2_1">Maturity and surrender benefits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MaturityAndSurrenderBenefitsMember" xlink:to="mfc_MaturityAndSurrenderBenefitsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaturityAxis_lbl" xml:lang="en-US" id="id_14036987_3421968_1_1">Maturity [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MaturityAxis_lbl" xml:lang="en-US" id="id_14036987_3421968_2_1">Maturity [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_MaturityAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MaximumConcentrationOfMortgagesAndRealEstate" xlink:label="mfc_MaximumConcentrationOfMortgagesAndRealEstate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MaximumConcentrationOfMortgagesAndRealEstate_lbl" xml:lang="en-US" id="id_14036987_3452954_3_1">Maximum concentration of mortgages and real estate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MaximumConcentrationOfMortgagesAndRealEstate_lbl" xml:lang="en-US" id="id_14036987_3452954_1_1">Maximum concentration of mortgages and real estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MaximumConcentrationOfMortgagesAndRealEstate_lbl" xml:lang="en-US" id="id_14036987_3452954_2_1">Largest concentration of mortgages and real estate(2) - Ontario Canada (2018 - 26%, 2017 - 25%)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MaximumConcentrationOfMortgagesAndRealEstate" xlink:to="mfc_MaximumConcentrationOfMortgagesAndRealEstate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MaximumConcentrationOfMortgagesAndRealEstatePercentage" xlink:label="mfc_MaximumConcentrationOfMortgagesAndRealEstatePercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MaximumConcentrationOfMortgagesAndRealEstatePercentage_lbl" xml:lang="en-US" id="id_14036987_3526380_3_1">Maximum concentration of mortgages and real estate, percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MaximumConcentrationOfMortgagesAndRealEstatePercentage_lbl" xml:lang="en-US" id="id_14036987_3526380_1_1">Maximum concentration of mortgages and real estate, percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MaximumConcentrationOfMortgagesAndRealEstatePercentage_lbl" xml:lang="en-US" id="id_14036987_3526380_2_1">Largest concentration of mortgages and real estate, percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MaximumConcentrationOfMortgagesAndRealEstatePercentage" xlink:to="mfc_MaximumConcentrationOfMortgagesAndRealEstatePercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaximumExposureToCreditRisk" xlink:label="ifrs-full_MaximumExposureToCreditRisk"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaximumExposureToCreditRisk_lbl" xml:lang="en-US" id="id_14036987_3421343_1_1">Maximum exposure to credit risk</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MaximumExposureToCreditRisk_lbl" xml:lang="en-US" id="id_14036987_3421343_2_1">Credit exposure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaximumExposureToCreditRisk" xlink:to="ifrs-full_MaximumExposureToCreditRisk_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets" xlink:label="ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3421345_1_1">Maximum exposure to credit risk of financial assets designated as measured at fair value through profit or loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3421345_2_1">Maximum credit exposure related to derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets" xlink:to="ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaximumExposureToLossFromInterestsInStructuredEntities" xlink:label="ifrs-full_MaximumExposureToLossFromInterestsInStructuredEntities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaximumExposureToLossFromInterestsInStructuredEntities_lbl" xml:lang="en-US" id="id_14036987_3421970_1_1">Maximum exposure to loss from interests in structured entities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MaximumExposureToLossFromInterestsInStructuredEntities_lbl" xml:lang="en-US" id="id_14036987_3421970_2_1">Company's interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_MaximumExposureToLossFromInterestsInStructuredEntities_lbl" xml:lang="en-US" id="id_14036987_3421970_12_1">Company's maximum exposure to loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaximumExposureToLossFromInterestsInStructuredEntities" xlink:to="ifrs-full_MaximumExposureToLossFromInterestsInStructuredEntities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MaximumExposureToSingleNongovernmentDebtSecurityAndPrivatePlacementIssuer" xlink:label="mfc_MaximumExposureToSingleNongovernmentDebtSecurityAndPrivatePlacementIssuer"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MaximumExposureToSingleNongovernmentDebtSecurityAndPrivatePlacementIssuer_lbl" xml:lang="en-US" id="id_14036987_3453756_3_1">Maximum exposure to single nongovernment debt security and private placement issuer.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MaximumExposureToSingleNongovernmentDebtSecurityAndPrivatePlacementIssuer_lbl" xml:lang="en-US" id="id_14036987_3453756_1_1">Maximum Exposure To Single Nongovernment Debt Security And Private Placement Issuer</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MaximumExposureToSingleNongovernmentDebtSecurityAndPrivatePlacementIssuer_lbl" xml:lang="en-US" id="id_14036987_3453756_2_1">Highest exposure to a single non-government debt security and private placement issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MaximumExposureToSingleNongovernmentDebtSecurityAndPrivatePlacementIssuer" xlink:to="mfc_MaximumExposureToSingleNongovernmentDebtSecurityAndPrivatePlacementIssuer_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MaximumPercentageOfFinalAveragePayPensionPlansToGlobalPensionObligations" xlink:label="mfc_MaximumPercentageOfFinalAveragePayPensionPlansToGlobalPensionObligations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MaximumPercentageOfFinalAveragePayPensionPlansToGlobalPensionObligations_lbl" xml:lang="en-US" id="id_14036987_3526261_3_1">Maximum percentage of final average pay pension plans to global pension obligations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MaximumPercentageOfFinalAveragePayPensionPlansToGlobalPensionObligations_lbl" xml:lang="en-US" id="id_14036987_3526261_1_1">Maximum percentage of final average pay pension plans to global pension obligations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MaximumPercentageOfFinalAveragePayPensionPlansToGlobalPensionObligations_lbl" xml:lang="en-US" id="id_14036987_3526261_2_1">Percentage of final average pay pension plans to global pension obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MaximumPercentageOfFinalAveragePayPensionPlansToGlobalPensionObligations" xlink:to="mfc_MaximumPercentageOfFinalAveragePayPensionPlansToGlobalPensionObligations_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MaximumTimeFrameForWhichVariableCashFlowsAreHedged" xlink:label="mfc_MaximumTimeFrameForWhichVariableCashFlowsAreHedged"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MaximumTimeFrameForWhichVariableCashFlowsAreHedged_lbl" xml:lang="en-US" id="id_14036987_3472733_3_1">Maximum time frame for which variable cash flows are hedged.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MaximumTimeFrameForWhichVariableCashFlowsAreHedged_lbl" xml:lang="en-US" id="id_14036987_3472733_1_1">Maximum time frame for which variable cash flows are hedged</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MaximumTimeFrameForWhichVariableCashFlowsAreHedged_lbl" xml:lang="en-US" id="id_14036987_3472733_2_1">Maximum time frame for which variable cash flows are hedged</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MaximumTimeFrameForWhichVariableCashFlowsAreHedged" xlink:to="mfc_MaximumTimeFrameForWhichVariableCashFlowsAreHedged_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MeasurementAxis" xlink:label="ifrs-full_MeasurementAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MeasurementAxis_lbl" xml:lang="en-US" id="id_14036987_3421501_1_1">Measurement [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MeasurementAxis_lbl" xml:lang="en-US" id="id_14036987_3421501_2_1">Measurement [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MeasurementAxis" xlink:to="ifrs-full_MeasurementAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MediaAndInternetMember" xlink:label="mfc_MediaAndInternetMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MediaAndInternetMember_lbl" xml:lang="en-US" id="id_14036987_3479684_3_1">Media and internet.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MediaAndInternetMember_lbl" xml:lang="en-US" id="id_14036987_3479684_1_1">Media and internet [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MediaAndInternetMember_lbl" xml:lang="en-US" id="id_14036987_3479684_2_1">Media and internet [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MediaAndInternetMember" xlink:to="mfc_MediaAndInternetMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MfcGuarantorMember" xlink:label="mfc_MfcGuarantorMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MfcGuarantorMember_lbl" xml:lang="en-US" id="id_14036987_3509077_3_1">MFC guarantor.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MfcGuarantorMember_lbl" xml:lang="en-US" id="id_14036987_3509077_1_1">MFC guarantor [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MfcGuarantorMember_lbl" xml:lang="en-US" id="id_14036987_3509077_2_1">MFC (Guarantor) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MfcGuarantorMember" xlink:to="mfc_MfcGuarantorMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:label="ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease_lbl" xml:lang="en-US" id="id_14036987_3421108_1_1">Minimum lease payments payable under non-cancellable operating lease</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease_lbl" xml:lang="en-US" id="id_14036987_3421108_2_1">Aggregate future minimum lease payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease_lbl" xml:lang="en-US" id="id_14036987_3421108_12_1">Lease obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease" xlink:to="ifrs-full_MinimumLeasePaymentsPayableUnderNoncancellableOperatingLease_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MiscellaneousOtherAssets" xlink:label="mfc_MiscellaneousOtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MiscellaneousOtherAssets_lbl" xml:lang="en-US" id="id_14036987_3443888_3_1">Miscellaneous other assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MiscellaneousOtherAssets_lbl" xml:lang="en-US" id="id_14036987_3443888_1_1">Miscellaneous Other Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MiscellaneousOtherAssets_lbl" xml:lang="en-US" id="id_14036987_3443888_2_1">Miscellaneous</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MiscellaneousOtherAssets" xlink:to="mfc_MiscellaneousOtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MLIAndJohnHancockLifeInsuranceCompanyMember" xlink:label="mfc_MLIAndJohnHancockLifeInsuranceCompanyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MLIAndJohnHancockLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479008_3_1">MLI and John Hancock Life Insurance Company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MLIAndJohnHancockLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479008_1_1">MLI and John Hancock Life Insurance Company [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MLIAndJohnHancockLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479008_2_1">MLI and John Hancock Life Insurance Company [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MLIAndJohnHancockLifeInsuranceCompanyMember" xlink:to="mfc_MLIAndJohnHancockLifeInsuranceCompanyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MoneyMarketFunds1Member" xlink:label="mfc_MoneyMarketFunds1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MoneyMarketFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3509646_3_1">Money market funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MoneyMarketFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3509646_1_1">Money Market Funds 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MoneyMarketFunds1Member_lbl" xml:lang="en-US" id="id_14036987_3509646_2_1">Money market funds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MoneyMarketFunds1Member" xlink:to="mfc_MoneyMarketFunds1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MoreThanFiftyBasisPointsMember" xlink:label="mfc_MoreThanFiftyBasisPointsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MoreThanFiftyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489476_3_1">More than fifty basis points.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MoreThanFiftyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489476_1_1">More than fifty basis points [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MoreThanFiftyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489476_2_1">+50bp [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MoreThanFiftyBasisPointsMember" xlink:to="mfc_MoreThanFiftyBasisPointsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MoreThanTenPercentageChangeInMarketValueMember" xlink:label="mfc_MoreThanTenPercentageChangeInMarketValueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MoreThanTenPercentageChangeInMarketValueMember_lbl" xml:lang="en-US" id="id_14036987_3489479_3_1">More than ten percentage change in market value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MoreThanTenPercentageChangeInMarketValueMember_lbl" xml:lang="en-US" id="id_14036987_3489479_1_1">More than Ten percentage Change In Market Value [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MoreThanTenPercentageChangeInMarketValueMember_lbl" xml:lang="en-US" id="id_14036987_3489479_2_1">10% [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MoreThanTenPercentageChangeInMarketValueMember" xlink:to="mfc_MoreThanTenPercentageChangeInMarketValueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MoreThanTwentyBasisPointsMember" xlink:label="mfc_MoreThanTwentyBasisPointsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MoreThanTwentyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489481_3_1">More than twenty basis points.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MoreThanTwentyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489481_1_1">More than twenty basis points [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MoreThanTwentyBasisPointsMember_lbl" xml:lang="en-US" id="id_14036987_3489481_2_1">+20bp [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MoreThanTwentyBasisPointsMember" xlink:to="mfc_MoreThanTwentyBasisPointsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MortalityAndMorbidityUpdatesMember" xlink:label="mfc_MortalityAndMorbidityUpdatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MortalityAndMorbidityUpdatesMember_lbl" xml:lang="en-US" id="id_14036987_3479571_3_1">The member stands for mortality and morbidity updates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MortalityAndMorbidityUpdatesMember_lbl" xml:lang="en-US" id="id_14036987_3479571_1_1">Mortality and morbidity updates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MortalityAndMorbidityUpdatesMember_lbl" xml:lang="en-US" id="id_14036987_3479571_2_1">Mortality and morbidity updates [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MortalityAndMorbidityUpdatesMember" xlink:to="mfc_MortalityAndMorbidityUpdatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MortgageBackedOrAssetBackedSecuritiesMember" xlink:label="mfc_MortgageBackedOrAssetBackedSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MortgageBackedOrAssetBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3477304_3_1">Mortgage/asset-backed securities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MortgageBackedOrAssetBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3477304_1_1">Mortgage Backed or Asset Backed Securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MortgageBackedOrAssetBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3477304_2_1">Mortgage/asset-backed securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MortgageBackedOrAssetBackedSecuritiesMember" xlink:to="mfc_MortgageBackedOrAssetBackedSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_Mortgages" xlink:label="mfc_Mortgages"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_Mortgages_lbl" xml:lang="en-US" id="id_14036987_3443749_3_1">Mortgages.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_Mortgages_lbl" xml:lang="en-US" id="id_14036987_3443749_1_1">Mortgages</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_Mortgages_lbl" xml:lang="en-US" id="id_14036987_3443749_2_1">Mortgages</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_Mortgages" xlink:to="mfc_Mortgages_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MortgagesAndLoansToBankClientsMember" xlink:label="mfc_MortgagesAndLoansToBankClientsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MortgagesAndLoansToBankClientsMember_lbl" xml:lang="en-US" id="id_14036987_3479783_3_1">Mortgages and loans to bank clients.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MortgagesAndLoansToBankClientsMember_lbl" xml:lang="en-US" id="id_14036987_3479783_1_1">Mortgages and loans to bank clients [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MortgagesAndLoansToBankClientsMember_lbl" xml:lang="en-US" id="id_14036987_3479783_2_1">Mortgages and loans to Bank clients [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MortgagesAndLoansToBankClientsMember" xlink:to="mfc_MortgagesAndLoansToBankClientsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MortgagesMember" xlink:label="ifrs-full_MortgagesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3422009_1_1">Mortgages [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3422009_2_1">Mortgages [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MortgagesMember" xlink:to="ifrs-full_MortgagesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_MultifamilyMember" xlink:label="srt_MultifamilyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MultifamilyMember_lbl" xml:lang="en-US" id="id_14036987_3421593_1_1">Multifamily [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MultifamilyMember_lbl" xml:lang="en-US" id="id_14036987_3421593_2_1">Multi-family residential [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MultifamilyMember" xlink:to="srt_MultifamilyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_MutualFundsMember" xlink:label="mfc_MutualFundsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_MutualFundsMember_lbl" xml:lang="en-US" id="id_14036987_3480166_3_1">Mutual funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_MutualFundsMember_lbl" xml:lang="en-US" id="id_14036987_3480166_1_1">Mutual funds [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_MutualFundsMember_lbl" xml:lang="en-US" id="id_14036987_3480166_2_1">Mutual funds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_MutualFundsMember" xlink:to="mfc_MutualFundsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NalResourcesManagementLimitedMember" xlink:label="mfc_NalResourcesManagementLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NalResourcesManagementLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479814_3_1">NAL Resources Management Limited.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NalResourcesManagementLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479814_1_1">NAL Resources Management Limited [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NalResourcesManagementLimitedMember_lbl" xml:lang="en-US" id="id_14036987_3479814_2_1">NAL Resources Management Limited [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NalResourcesManagementLimitedMember" xlink:to="mfc_NalResourcesManagementLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NameOfSubsidiary" xlink:label="ifrs-full_NameOfSubsidiary"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NameOfSubsidiary_lbl" xml:lang="en-US" id="id_14036987_3422299_1_1">Name of subsidiary</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NameOfSubsidiary_lbl" xml:lang="en-US" id="id_14036987_3422299_2_1">Name of subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NameOfSubsidiary" xlink:to="ifrs-full_NameOfSubsidiary_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NegativeTenPercentageChangeInMarketValueOfEquityMember" xlink:label="mfc_NegativeTenPercentageChangeInMarketValueOfEquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NegativeTenPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489464_3_1">Negative 10% change in market values of equity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NegativeTenPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489464_1_1">Negative Ten Percentage Change in Market Value of Equity [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NegativeTenPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489464_2_1">-10% [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NegativeTenPercentageChangeInMarketValueOfEquityMember" xlink:to="mfc_NegativeTenPercentageChangeInMarketValueOfEquityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NegativeThirtyPercentageChangeInMarketValueOfEquityMember" xlink:label="mfc_NegativeThirtyPercentageChangeInMarketValueOfEquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NegativeThirtyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489466_3_1">Negative 30% change in market values of equity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NegativeThirtyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489466_1_1">Negative Thirty Percentage Change in Market Value of Equity [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NegativeThirtyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489466_2_1">-30% [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NegativeThirtyPercentageChangeInMarketValueOfEquityMember" xlink:to="mfc_NegativeThirtyPercentageChangeInMarketValueOfEquityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NegativeTwentyPercentageChangeInMarketValueOfEquityMember" xlink:label="mfc_NegativeTwentyPercentageChangeInMarketValueOfEquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NegativeTwentyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3530688_3_1">Negative 20% change in market values of equity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NegativeTwentyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3530688_1_1">Negative Twenty Percentage Change in Market Value of Equity [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NegativeTwentyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3530688_2_1">-20% [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NegativeTwentyPercentageChangeInMarketValueOfEquityMember" xlink:to="mfc_NegativeTwentyPercentageChangeInMarketValueOfEquityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetActuarialLiabilitiesMember" xlink:label="mfc_NetActuarialLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetActuarialLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479613_3_1">This member stands for net actuarial liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetActuarialLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479613_1_1">Net actuarial liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetActuarialLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479613_2_1">Net actuarial liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetActuarialLiabilitiesMember" xlink:to="mfc_NetActuarialLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetAmountArisingFromInsuranceContractsMember" xlink:label="ifrs-full_NetAmountArisingFromInsuranceContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetAmountArisingFromInsuranceContractsMember_lbl" xml:lang="en-US" id="id_14036987_3421610_1_1">Net amount arising from insurance contracts [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetAmountArisingFromInsuranceContractsMember_lbl" xml:lang="en-US" id="id_14036987_3421610_2_1">Net amount arising from insurance contracts [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetAmountArisingFromInsuranceContractsMember" xlink:to="ifrs-full_NetAmountArisingFromInsuranceContractsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember" xlink:label="mfc_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3480154_3_1">Net benefit cost recognized in the Consolidated Statements of Income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3480154_1_1">Net benefit cost recognized in the Consolidated Statements of Income [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3480154_2_1">Net Benefit Cost Recognized in the Consolidated Statements of Income [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember" xlink:to="mfc_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl" xml:lang="en-US" id="id_14036987_3421612_1_1">Net defined benefit liability (asset) [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl" xml:lang="en-US" id="id_14036987_3421612_2_1">Net defined benefit liability (asset) [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:to="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetDefinedBenefitLiabilityAssetMember" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetMember_lbl" xml:lang="en-US" id="id_14036987_3421569_1_1">Net defined benefit liability (asset) [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetMember_lbl" xml:lang="en-US" id="id_14036987_3421569_2_1">Net defined benefit liability (asset) [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDefinedBenefitLiabilityAssetMember" xlink:to="ifrs-full_NetDefinedBenefitLiabilityAssetMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetEarnedPremium" xlink:label="ifrs-full_NetEarnedPremium"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetEarnedPremium_lbl" xml:lang="en-US" id="id_14036987_3422460_1_1">Net earned premium</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetEarnedPremium_lbl" xml:lang="en-US" id="id_14036987_3422460_2_1">Net premium income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NetEarnedPremium_lbl" xml:lang="en-US" id="id_14036987_3422460_6_1">Net premiums</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetEarnedPremium" xlink:to="ifrs-full_NetEarnedPremium_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetExposure" xlink:label="mfc_NetExposure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetExposure_lbl" xml:lang="en-US" id="id_14036987_3458404_3_1">Net exposure after taking offsetting agreements and the benefit of the fair value of collateral held.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetExposure_lbl" xml:lang="en-US" id="id_14036987_3458404_1_1">Net Exposure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetExposure_lbl" xml:lang="en-US" id="id_14036987_3458404_2_1">Net exposure after offsetting agreements and benefit of fair value of collateral held</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetExposure" xlink:to="mfc_NetExposure_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements" xlink:label="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3422307_1_1">Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3422307_2_1">Largest single counterparty exposure with master netting agreements or the benefit of collateral held</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3422307_6_1">Net amount including financing trusts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements" xlink:to="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts" xlink:label="mfc_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts_lbl" xml:lang="en-US" id="id_14036987_3453764_3_1">Net financial assets subject to offsetting enforceable master netting arrangements or similar agreements excluding financing trusts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts_lbl" xml:lang="en-US" id="id_14036987_3453764_1_1">Net Financial Assets Subject To Offsetting Enforceable Master Netting Arrangements Or Similar Agreements Excluding Financing Trusts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts_lbl" xml:lang="en-US" id="id_14036987_3453764_2_1">Net amounts excluding financing trusts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts" xlink:to="mfc_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3422462_1_1">Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl" xml:lang="en-US" id="id_14036987_3422462_19_1">Net amount including financing trusts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements" xlink:to="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts" xlink:label="mfc_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts_lbl" xml:lang="en-US" id="id_14036987_3453758_3_1">Net financial liabilities subject to offsetting enforceable master netting arrangements or similar agreements excluding financing trusts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts_lbl" xml:lang="en-US" id="id_14036987_3453758_1_1">Net Financial Liabilities Subject To Offsetting Enforceable Master Netting Arrangements Or Similar Agreements Excluding Financing Trusts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts_lbl" xml:lang="en-US" id="id_14036987_3453758_14_1">Net amounts excluding financing trusts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts" xlink:to="mfc_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsExcludingFinancingTrusts_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" xml:lang="en-US" id="id_14036987_3422310_1_1">Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" xml:lang="en-US" id="id_14036987_3422310_6_1">Net amounts of financial instruments presented in the Consolidated Statements of Financial Position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition" xlink:to="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetImpactOfUnderlyingSensitivityAfterHedging" xlink:label="mfc_NetImpactOfUnderlyingSensitivityAfterHedging"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetImpactOfUnderlyingSensitivityAfterHedging_lbl" xml:lang="en-US" id="id_14036987_3453491_3_1">Net impact of underlying sensitivity after hedging.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetImpactOfUnderlyingSensitivityAfterHedging_lbl" xml:lang="en-US" id="id_14036987_3453491_1_1">Net impact of underlying sensitivity after hedging</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_NetImpactOfUnderlyingSensitivityAfterHedging_lbl" xml:lang="en-US" id="id_14036987_3453491_6_1">Net potential impact on net income attributed to shareholders after impact of hedging</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetImpactOfUnderlyingSensitivityAfterHedging" xlink:to="mfc_NetImpactOfUnderlyingSensitivityAfterHedging_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetInsuranceContractLiabilities" xlink:label="mfc_NetInsuranceContractLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446520_3_1">The amount of insurance contract liabilities net of reinsurance assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446520_1_1">Net insurance contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446520_2_1">Net insurance contract liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_NetInsuranceContractLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446520_6_1">Net insurance contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetInsuranceContractLiabilities" xlink:to="mfc_NetInsuranceContractLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetInsuranceContractLiabilitiesMember" xlink:label="mfc_NetInsuranceContractLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3530933_3_1">This member stands for net insurance contract liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3530933_1_1">Net insurance contract liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3530933_2_1">Net insurance contract liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetInsuranceContractLiabilitiesMember" xlink:to="mfc_NetInsuranceContractLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetInsurancePremiumTaxes" xlink:label="mfc_NetInsurancePremiumTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetInsurancePremiumTaxes_lbl" xml:lang="en-US" id="id_14036987_3446748_3_1">Net insurance premium taxes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetInsurancePremiumTaxes_lbl" xml:lang="en-US" id="id_14036987_3446748_1_1">Net insurance premium taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetInsurancePremiumTaxes_lbl" xml:lang="en-US" id="id_14036987_3446748_2_1">Net premium taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetInsurancePremiumTaxes" xlink:to="mfc_NetInsurancePremiumTaxes_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetInvestmentIncomeLoss" xlink:label="mfc_NetInvestmentIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetInvestmentIncomeLoss_lbl" xml:lang="en-US" id="id_14036987_3443835_3_1">Net investment income (loss).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetInvestmentIncomeLoss_lbl" xml:lang="en-US" id="id_14036987_3443835_1_1">Net Investment Income Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetInvestmentIncomeLoss_lbl" xml:lang="en-US" id="id_14036987_3443835_2_1">Net Investment income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_NetInvestmentIncomeLoss_lbl" xml:lang="en-US" id="id_14036987_3443835_6_1">Net investment income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_NetInvestmentIncomeLoss_lbl" xml:lang="en-US" id="id_14036987_3443835_12_1">Net investment income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetInvestmentIncomeLoss" xlink:to="mfc_NetInvestmentIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetOfReinsuranceAmountAtRisk" xlink:label="mfc_NetOfReinsuranceAmountAtRisk"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetOfReinsuranceAmountAtRisk_lbl" xml:lang="en-US" id="id_14036987_3458501_3_1">Net of reinsurance amount at risk.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetOfReinsuranceAmountAtRisk_lbl" xml:lang="en-US" id="id_14036987_3458501_1_1">Net Of Reinsurance Amount At Risk</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetOfReinsuranceAmountAtRisk_lbl" xml:lang="en-US" id="id_14036987_3458501_2_1">Amount at risk net of reinsurance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_NetOfReinsuranceAmountAtRisk_lbl" xml:lang="en-US" id="id_14036987_3458501_12_1">Total, net of reinsurance, Amount at risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetOfReinsuranceAmountAtRisk" xlink:to="mfc_NetOfReinsuranceAmountAtRisk_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetOfReinsuranceFundValue" xlink:label="mfc_NetOfReinsuranceFundValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetOfReinsuranceFundValue_lbl" xml:lang="en-US" id="id_14036987_3458502_3_1">Net of reinsurance fund value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetOfReinsuranceFundValue_lbl" xml:lang="en-US" id="id_14036987_3458502_1_1">Net Of Reinsurance Fund Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetOfReinsuranceFundValue_lbl" xml:lang="en-US" id="id_14036987_3458502_2_1">Total, net of reinsurance, Fund value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetOfReinsuranceFundValue" xlink:to="mfc_NetOfReinsuranceFundValue_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetOfReinsuranceGuaranteeValue" xlink:label="mfc_NetOfReinsuranceGuaranteeValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetOfReinsuranceGuaranteeValue_lbl" xml:lang="en-US" id="id_14036987_3458503_3_1">Net of reinsurance guarantee value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetOfReinsuranceGuaranteeValue_lbl" xml:lang="en-US" id="id_14036987_3458503_1_1">Net Of Reinsurance Guarantee Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetOfReinsuranceGuaranteeValue_lbl" xml:lang="en-US" id="id_14036987_3458503_2_1">Total, net of reinsurance, Guarantee value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetOfReinsuranceGuaranteeValue" xlink:to="mfc_NetOfReinsuranceGuaranteeValue_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetRealizedUnrealizedGainsLossesOnDerivativeInvestmentIncome" xlink:label="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeInvestmentIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3446727_3_1">Net realized unrealized gains (losses) on derivative investment income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3446727_1_1">Net realized unrealized gains losses on derivative investment income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3446727_2_1">Net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeInvestmentIncome" xlink:to="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeInvestmentIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetRealizedUnrealizedGainsLossesOnDerivativeOtherComprehensiveIncome" xlink:label="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeOtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3446728_3_1">Net realized unrealized gains losses on derivative other comprehensive income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3446728_1_1">Net realized unrealized gains losses on derivative other comprehensive income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeOtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3446728_2_1">OCI</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeOtherComprehensiveIncome" xlink:to="mfc_NetRealizedUnrealizedGainsLossesOnDerivativeOtherComprehensiveIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NetTransfersFromSegregatedFundsMember" xlink:label="mfc_NetTransfersFromSegregatedFundsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NetTransfersFromSegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3479632_3_1">The member stands for net transfers from segregated funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NetTransfersFromSegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3479632_1_1">Net transfers from segregated funds [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NetTransfersFromSegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3479632_2_1">Net transfers from segregated funds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NetTransfersFromSegregatedFundsMember" xlink:to="mfc_NetTransfersFromSegregatedFundsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xml:lang="en-US" id="id_14036987_3421584_1_1">Non-adjusting events after reporting period [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xml:lang="en-US" id="id_14036987_3421584_2_1">Non-adjusting events after reporting period [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonadjustingEventsMember_lbl" xml:lang="en-US" id="id_14036987_3421585_1_1">Non-adjusting events after reporting period [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NonadjustingEventsMember_lbl" xml:lang="en-US" id="id_14036987_3421585_2_1">Non-adjusting events after reporting period [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_NonadjustingEventsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3421633_1_1">Non-controlling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3421633_2_1">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncontrollingInterestsMember" xlink:label="ifrs-full_NoncontrollingInterestsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xml:lang="en-US" id="id_14036987_3421587_1_1">Non-controlling interests [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xml:lang="en-US" id="id_14036987_3421587_2_1">Non-controlling Interests [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestsMember" xlink:to="ifrs-full_NoncontrollingInterestsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NoncyclicalConsumerMember" xlink:label="mfc_NoncyclicalConsumerMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NoncyclicalConsumerMember_lbl" xml:lang="en-US" id="id_14036987_3479690_3_1">Non-cyclical consumer.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NoncyclicalConsumerMember_lbl" xml:lang="en-US" id="id_14036987_3479690_1_1">Non-cyclical consumer [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NoncyclicalConsumerMember_lbl" xml:lang="en-US" id="id_14036987_3479690_2_1">Consumer (non-cyclical) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NoncyclicalConsumerMember" xlink:to="mfc_NoncyclicalConsumerMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NonDesignated1Member" xlink:label="mfc_NonDesignated1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NonDesignated1Member_lbl" xml:lang="en-US" id="id_14036987_3479013_3_1">Non designated.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NonDesignated1Member_lbl" xml:lang="en-US" id="id_14036987_3479013_1_1">Non Designated 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NonDesignated1Member_lbl" xml:lang="en-US" id="id_14036987_3479013_2_1">Non designated [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NonDesignated1Member" xlink:to="mfc_NonDesignated1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NonFunctionalCurrencyDenominatedDebtMember" xlink:label="mfc_NonFunctionalCurrencyDenominatedDebtMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NonFunctionalCurrencyDenominatedDebtMember_lbl" xml:lang="en-US" id="id_14036987_3479827_3_1">Non functional currency denominated debt.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NonFunctionalCurrencyDenominatedDebtMember_lbl" xml:lang="en-US" id="id_14036987_3479827_1_1">Non functional currency denominated debt [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NonFunctionalCurrencyDenominatedDebtMember_lbl" xml:lang="en-US" id="id_14036987_3479827_2_1">Non-functional currency denominated debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NonFunctionalCurrencyDenominatedDebtMember" xlink:to="mfc_NonFunctionalCurrencyDenominatedDebtMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NonperformingMember" xlink:label="mfc_NonperformingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NonperformingMember_lbl" xml:lang="en-US" id="id_14036987_3479711_3_1">Non-performing.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NonperformingMember_lbl" xml:lang="en-US" id="id_14036987_3479711_1_1">Non-performing [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NonperformingMember_lbl" xml:lang="en-US" id="id_14036987_3479711_2_1">Non-performing [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NonperformingMember" xlink:to="mfc_NonperformingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NonRegisteredRetirementPlansInTrustMember" xlink:label="mfc_NonRegisteredRetirementPlansInTrustMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NonRegisteredRetirementPlansInTrustMember_lbl" xml:lang="en-US" id="id_14036987_3480215_3_1">Non registered retirement plans in trust.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NonRegisteredRetirementPlansInTrustMember_lbl" xml:lang="en-US" id="id_14036987_3480215_1_1">Non Registered Retirement Plans In Trust [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NonRegisteredRetirementPlansInTrustMember_lbl" xml:lang="en-US" id="id_14036987_3480215_2_1">Non-registered retirement plans in trust [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NonRegisteredRetirementPlansInTrustMember" xlink:to="mfc_NonRegisteredRetirementPlansInTrustMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NormalInForceMovementInInsuranceContracts" xlink:label="mfc_NormalInForceMovementInInsuranceContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NormalInForceMovementInInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447047_3_1">Change in insurance contract resulting from normal movement in force block.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NormalInForceMovementInInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447047_1_1">Normal in Force Movement in Insurance Contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NormalInForceMovementInInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447047_2_1">Normal in-force movement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NormalInForceMovementInInsuranceContracts" xlink:to="mfc_NormalInForceMovementInInsuranceContracts_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NotesPayableToAffiliates" xlink:label="mfc_NotesPayableToAffiliates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NotesPayableToAffiliates_lbl" xml:lang="en-US" id="id_14036987_3453187_3_1">Notes payable to affiliates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NotesPayableToAffiliates_lbl" xml:lang="en-US" id="id_14036987_3453187_1_1">Notes payable to affiliates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_NotesPayableToAffiliates_lbl" xml:lang="en-US" id="id_14036987_3453187_14_1">Notes payable to affiliates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NotesPayableToAffiliates" xlink:to="mfc_NotesPayableToAffiliates_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NotesPayableToParentNet" xlink:label="mfc_NotesPayableToParentNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NotesPayableToParentNet_lbl" xml:lang="en-US" id="id_14036987_3433419_3_1">Notes payable to parent.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NotesPayableToParentNet_lbl" xml:lang="en-US" id="id_14036987_3433419_1_1">Notes Payable To Parent Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_NotesPayableToParentNet_lbl" xml:lang="en-US" id="id_14036987_3433419_14_1">Notes payable to parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NotesPayableToParentNet" xlink:to="mfc_NotesPayableToParentNet_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NotesPayableToSubsidiariesNet" xlink:label="mfc_NotesPayableToSubsidiariesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NotesPayableToSubsidiariesNet_lbl" xml:lang="en-US" id="id_14036987_3453186_3_1">Notes payable to subsidiaries, net.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NotesPayableToSubsidiariesNet_lbl" xml:lang="en-US" id="id_14036987_3453186_1_1">Notes Payable to Subsidiaries Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_NotesPayableToSubsidiariesNet_lbl" xml:lang="en-US" id="id_14036987_3453186_14_1">Notes payable to subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NotesPayableToSubsidiariesNet" xlink:to="mfc_NotesPayableToSubsidiariesNet_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NotesReceivableFromParentNet" xlink:label="mfc_NotesReceivableFromParentNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NotesReceivableFromParentNet_lbl" xml:lang="en-US" id="id_14036987_3453182_3_1">Notes receivable from parent, net.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NotesReceivableFromParentNet_lbl" xml:lang="en-US" id="id_14036987_3453182_1_1">Notes Receivable from Parent Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NotesReceivableFromParentNet_lbl" xml:lang="en-US" id="id_14036987_3453182_2_1">Notes receivable from parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NotesReceivableFromParentNet" xlink:to="mfc_NotesReceivableFromParentNet_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NotesReceivableFromSubsidiariesNet" xlink:label="mfc_NotesReceivableFromSubsidiariesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NotesReceivableFromSubsidiariesNet_lbl" xml:lang="en-US" id="id_14036987_3453183_3_1">Notes receivable from subsidiaries, net.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NotesReceivableFromSubsidiariesNet_lbl" xml:lang="en-US" id="id_14036987_3453183_1_1">Notes Receivable from Subsidiaries Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NotesReceivableFromSubsidiariesNet_lbl" xml:lang="en-US" id="id_14036987_3453183_2_1">Notes receivable from subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NotesReceivableFromSubsidiariesNet" xlink:to="mfc_NotesReceivableFromSubsidiariesNet_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NotesReceivablesFromAffiliates" xlink:label="mfc_NotesReceivablesFromAffiliates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NotesReceivablesFromAffiliates_lbl" xml:lang="en-US" id="id_14036987_3453181_3_1">Notes receivables from affiliates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NotesReceivablesFromAffiliates_lbl" xml:lang="en-US" id="id_14036987_3453181_1_1">Notes receivables from affiliates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NotesReceivablesFromAffiliates_lbl" xml:lang="en-US" id="id_14036987_3453181_2_1">Notes receivables from affiliates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NotesReceivablesFromAffiliates" xlink:to="mfc_NotesReceivablesFromAffiliates_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotionalAmount" xlink:label="ifrs-full_NotionalAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en-US" id="id_14036987_3421667_1_1">Notional amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en-US" id="id_14036987_3421667_32_1">Par value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en-US" id="id_14036987_3421667_33_1">Remaining term to maturity (notional amounts)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en-US" id="id_14036987_3421667_2_1">Face amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en-US" id="id_14036987_3421667_12_1">Notional amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotionalAmount" xlink:to="ifrs-full_NotionalAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NotLaterThanNinetyDaysMember" xlink:label="mfc_NotLaterThanNinetyDaysMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NotLaterThanNinetyDaysMember_lbl" xml:lang="en-US" id="id_14036987_3479011_3_1">Not later than ninety days.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NotLaterThanNinetyDaysMember_lbl" xml:lang="en-US" id="id_14036987_3479011_1_1">Not later than ninety days [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NotLaterThanNinetyDaysMember_lbl" xml:lang="en-US" id="id_14036987_3479011_2_1">Less than 90 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NotLaterThanNinetyDaysMember" xlink:to="mfc_NotLaterThanNinetyDaysMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneMonthMember" xlink:label="ifrs-full_NotLaterThanOneMonthMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl" xml:lang="en-US" id="id_14036987_3421668_1_1">Not later than one month [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl" xml:lang="en-US" id="id_14036987_3421668_2_1">Mature in 30 Days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneMonthMember" xlink:to="ifrs-full_NotLaterThanOneMonthMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xml:lang="en-US" id="id_14036987_3422054_1_1">Not later than one year [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xml:lang="en-US" id="id_14036987_3422054_2_1">Less than 1 year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneYearMember" xlink:to="ifrs-full_NotLaterThanOneYearMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NovemberTwentyNineTwoThousandAndEighteenMember" xlink:label="mfc_NovemberTwentyNineTwoThousandAndEighteenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NovemberTwentyNineTwoThousandAndEighteenMember_lbl" xml:lang="en-US" id="id_14036987_3541972_3_1">November twenty nine two thousand and eighteen [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NovemberTwentyNineTwoThousandAndEighteenMember_lbl" xml:lang="en-US" id="id_14036987_3541972_1_1">November twenty nine two thousand and eighteen [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NovemberTwentyNineTwoThousandAndEighteenMember_lbl" xml:lang="en-US" id="id_14036987_3541972_2_1">On November 29, 2018 [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NovemberTwentyNineTwoThousandAndEighteenMember" xlink:to="mfc_NovemberTwentyNineTwoThousandAndEighteenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NumberOfCommonSharesToBeReceivedOfPlanOnRetirementOrTermination" xlink:label="mfc_NumberOfCommonSharesToBeReceivedOfPlanOnRetirementOrTermination"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NumberOfCommonSharesToBeReceivedOfPlanOnRetirementOrTermination_lbl" xml:lang="en-US" id="id_14036987_3468053_3_1">Number of common shares to be received of plan on retirement or termination.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NumberOfCommonSharesToBeReceivedOfPlanOnRetirementOrTermination_lbl" xml:lang="en-US" id="id_14036987_3468053_1_1">Number of common shares to be received of plan on retirement or termination</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NumberOfCommonSharesToBeReceivedOfPlanOnRetirementOrTermination_lbl" xml:lang="en-US" id="id_14036987_3468053_2_1">Number of common shares to be received on retirement or termination</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NumberOfCommonSharesToBeReceivedOfPlanOnRetirementOrTermination" xlink:to="mfc_NumberOfCommonSharesToBeReceivedOfPlanOnRetirementOrTermination_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NumberOfEmployeesUnderVoluntaryExitProgram" xlink:label="mfc_NumberOfEmployeesUnderVoluntaryExitProgram"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NumberOfEmployeesUnderVoluntaryExitProgram_lbl" xml:lang="en-US" id="id_14036987_3536743_3_1">Number of employees under voluntary exit program.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NumberOfEmployeesUnderVoluntaryExitProgram_lbl" xml:lang="en-US" id="id_14036987_3536743_1_1">Number of employees under voluntary exit program</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NumberOfEmployeesUnderVoluntaryExitProgram_lbl" xml:lang="en-US" id="id_14036987_3536743_2_1">Number of employees under voluntary exit program</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_NumberOfEmployeesUnderVoluntaryExitProgram" xlink:to="mfc_NumberOfEmployeesUnderVoluntaryExitProgram_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" xlink:label="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted_lbl" xml:lang="en-US" id="id_14036987_3422508_1_1">Number of other equity instruments granted in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted_lbl" xml:lang="en-US" id="id_14036987_3422508_2_1">Number of equity granted</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3421678_1_1">Number of other equity instruments forfeited in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3421678_14_1">Forfeitures and cancellations</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NumberOfOtherEquityInstrumentsIssuedInSharebasedPaymentArrangement" xlink:label="mfc_NumberOfOtherEquityInstrumentsIssuedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NumberOfOtherEquityInstrumentsIssuedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3432769_3_1">Number of other equity instruments issued in share-based payment arrangement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NumberOfOtherEquityInstrumentsIssuedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3432769_1_1">Number of other equity instruments issued in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NumberOfOtherEquityInstrumentsIssuedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3432769_2_1">Fair value of equity issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_NumberOfOtherEquityInstrumentsIssuedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3432769_12_1">Issued</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3422353_1_1">Number of other equity instruments outstanding in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3422353_4_1">Ending balance</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3422353_2_1">Number of shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NumberOfOtherEquityInstrumentsRedeemedInSharebasedPaymentArrangement" xlink:label="mfc_NumberOfOtherEquityInstrumentsRedeemedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NumberOfOtherEquityInstrumentsRedeemedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3432771_3_1">Number of other equity instruments redeemed in share-based payment arrangement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NumberOfOtherEquityInstrumentsRedeemedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3432771_1_1">Number of other equity instruments redeemed in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_NumberOfOtherEquityInstrumentsRedeemedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3432771_14_1">Redeemed</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NumberOfOtherEquityInstrumentsReinvestedInSharebasedPaymentArrangement" xlink:label="mfc_NumberOfOtherEquityInstrumentsReinvestedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NumberOfOtherEquityInstrumentsReinvestedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3432770_3_1">Number of other equity instruments reinvested in share-based payment arrangement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NumberOfOtherEquityInstrumentsReinvestedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3432770_1_1">Number of other equity instruments reinvested in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NumberOfOtherEquityInstrumentsReinvestedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3432770_2_1">Reinvested</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfOutstandingShareOptions" xlink:label="ifrs-full_NumberOfOutstandingShareOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xml:lang="en-US" id="id_14036987_3421679_1_1">Number of share options outstanding in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xml:lang="en-US" id="id_14036987_3421679_5_1">Number of options, Beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xml:lang="en-US" id="id_14036987_3421679_2_1">Number of options, Options outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3422355_1_1">Number of share options exercisable in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3422355_2_1">Number of options, Exercisable, Ending balance</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3422356_1_1">Number of share options exercised in share-based payment arrangement</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3421681_1_1">Number of share options expired in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3421681_14_1">Number of options' Expired</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3421682_1_1">Number of share options forfeited in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3421682_14_1">Number of options' Forfeited</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3422057_1_1">Number of share options granted in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3422057_2_1">Number of options, Granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NumberOfShareOutstandingShareOptions" xlink:label="mfc_NumberOfShareOutstandingShareOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NumberOfShareOutstandingShareOptions_lbl" xml:lang="en-US" id="id_14036987_3468420_3_1">Number of share outstanding share options.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NumberOfShareOutstandingShareOptions_lbl" xml:lang="en-US" id="id_14036987_3468420_1_1">Number of Share Outstanding Share Options</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mfc_NumberOfShareOutstandingShareOptions_lbl" xml:lang="en-US" id="id_14036987_3468420_4_1">Number of options, Ending balance</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NumberOfSharesAuthorisedToRepurchase" xlink:label="mfc_NumberOfSharesAuthorisedToRepurchase"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_NumberOfSharesAuthorisedToRepurchase_lbl" xml:lang="en-US" id="id_14036987_3468767_3_1">Number of shares authorised to repurchase.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NumberOfSharesAuthorisedToRepurchase_lbl" xml:lang="en-US" id="id_14036987_3468767_1_1">Number of shares authorised to repurchase</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_NumberOfSharesAuthorisedToRepurchase_lbl" xml:lang="en-US" id="id_14036987_3468767_2_1">Stock approved to be repurchased for cancellation, share</label>
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    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_NumberOfSharesIssuedOnExerciseOfStockOptionsAndDeferredShareUnits" xlink:label="mfc_NumberOfSharesIssuedOnExerciseOfStockOptionsAndDeferredShareUnits"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_NumberOfSharesIssuedOnExerciseOfStockOptionsAndDeferredShareUnits_lbl" xml:lang="en-US" id="id_14036987_3468530_1_1">Number of shares issued on exercise of stock options and deferred share units</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="ifrs-full_NumberOfSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en-US" id="id_14036987_3422357_1_1">Number of shares outstanding</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en-US" id="id_14036987_3422357_5_1">Balance, beginning of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en-US" id="id_14036987_3422357_2_1">Number of shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_OfficeBuildingMember" xlink:label="srt_OfficeBuildingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_OfficeBuildingMember_lbl" xml:lang="en-US" id="id_14036987_3422515_1_1">Office Building [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_OfficeBuildingMember_lbl" xml:lang="en-US" id="id_14036987_3422515_2_1">Office [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_OfficeBuildingMember" xlink:to="srt_OfficeBuildingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OilAndGasInvestmentsMember" xlink:label="mfc_OilAndGasInvestmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OilAndGasInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479895_3_1">Oil and gas investments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OilAndGasInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479895_1_1">Oil and gas investments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OilAndGasInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479895_2_1">Oil and gas [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OilAndGasInvestmentsMember" xlink:to="mfc_OilAndGasInvestmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OntarioCanadaMember" xlink:label="mfc_OntarioCanadaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OntarioCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3479676_3_1">Ontario Canada.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OntarioCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3479676_1_1">Ontario Canada [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OntarioCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3479676_2_1">Ontario Canada [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OntarioCanadaMember" xlink:to="mfc_OntarioCanadaMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OperatingLossCarryforwards1" xlink:label="mfc_OperatingLossCarryforwards1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OperatingLossCarryforwards1_lbl" xml:lang="en-US" id="id_14036987_3439599_3_1">Operating loss carryforwards.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OperatingLossCarryforwards1_lbl" xml:lang="en-US" id="id_14036987_3439599_1_1">Operating loss carryforwards 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OperatingLossCarryforwards1_lbl" xml:lang="en-US" id="id_14036987_3439599_2_1">Operating tax loss carry forward</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OperatingLossCarryforwards1" xlink:to="mfc_OperatingLossCarryforwards1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OperatingLossCarryforwardsWithExpiration" xlink:label="mfc_OperatingLossCarryforwardsWithExpiration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OperatingLossCarryforwardsWithExpiration_lbl" xml:lang="en-US" id="id_14036987_3446660_3_1">Operating loss carryforwards with expiration.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OperatingLossCarryforwardsWithExpiration_lbl" xml:lang="en-US" id="id_14036987_3446660_1_1">Operating Loss Carryforwards With Expiration</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OperatingLossCarryforwardsWithExpiration_lbl" xml:lang="en-US" id="id_14036987_3446660_2_1">Operating tax loss carry forward expired in future</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OperatingLossCarryforwardsWithExpiration" xlink:to="mfc_OperatingLossCarryforwardsWithExpiration_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OperatingLossCarryforwardsWithoutExpiration" xlink:label="mfc_OperatingLossCarryforwardsWithoutExpiration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OperatingLossCarryforwardsWithoutExpiration_lbl" xml:lang="en-US" id="id_14036987_3446661_3_1">Operating loss carryforwards with no expiration.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OperatingLossCarryforwardsWithoutExpiration_lbl" xml:lang="en-US" id="id_14036987_3446661_1_1">Operating Loss Carryforwards Without Expiration</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OperatingLossCarryforwardsWithoutExpiration_lbl" xml:lang="en-US" id="id_14036987_3446661_2_1">Operating tax loss carry forward without expiration date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OperatingLossCarryforwardsWithoutExpiration" xlink:to="mfc_OperatingLossCarryforwardsWithoutExpiration_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OperatingSegmentsMember" xlink:label="ifrs-full_OperatingSegmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OperatingSegmentsMember_lbl" xml:lang="en-US" id="id_14036987_3422370_1_1">Operating segments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OperatingSegmentsMember_lbl" xml:lang="en-US" id="id_14036987_3422370_2_1">Operating segments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingSegmentsMember" xlink:to="ifrs-full_OperatingSegmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OptionContractMember" xlink:label="ifrs-full_OptionContractMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OptionContractMember_lbl" xml:lang="en-US" id="id_14036987_3421699_1_1">Option contract [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OptionContractMember_lbl" xml:lang="en-US" id="id_14036987_3421699_2_1">Options purchased [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OptionContractMember" xlink:to="ifrs-full_OptionContractMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OptionVestingPeriod" xlink:label="mfc_OptionVestingPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OptionVestingPeriod_lbl" xml:lang="en-US" id="id_14036987_3472506_3_1">Option vesting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OptionVestingPeriod_lbl" xml:lang="en-US" id="id_14036987_3472506_1_1">Option Vesting Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OptionVestingPeriod_lbl" xml:lang="en-US" id="id_14036987_3472506_2_1">Option vesting period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OptionVestingPeriod" xlink:to="mfc_OptionVestingPeriod_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xml:lang="en-US" id="id_14036987_3422519_1_1">Ordinary shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xml:lang="en-US" id="id_14036987_3422519_2_1">Common shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OrdinarySharesMember" xlink:to="ifrs-full_OrdinarySharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OTCSwapContractsMember" xlink:label="mfc_OTCSwapContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OTCSwapContractsMember_lbl" xml:lang="en-US" id="id_14036987_3479741_3_1">OTC swap contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OTCSwapContractsMember_lbl" xml:lang="en-US" id="id_14036987_3479741_1_1">OTC swap contracts [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OTCSwapContractsMember_lbl" xml:lang="en-US" id="id_14036987_3479741_2_1">OTC swap contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OTCSwapContractsMember" xlink:to="mfc_OTCSwapContractsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherAssets" xlink:label="ifrs-full_OtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherAssets_lbl" xml:lang="en-US" id="id_14036987_3422076_1_1">Other assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherAssets_lbl" xml:lang="en-US" id="id_14036987_3422076_2_1">Total other assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherAssets_lbl" xml:lang="en-US" id="id_14036987_3422076_6_1">Total other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherAssets" xlink:to="ifrs-full_OtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherAssets1Abstract" xlink:label="mfc_OtherAssets1Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherAssets1Abstract_lbl" xml:lang="en-US" id="id_14036987_3431115_3_1">Other assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherAssets1Abstract_lbl" xml:lang="en-US" id="id_14036987_3431115_1_1">Other Assets 1 [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherAssets1Abstract_lbl" xml:lang="en-US" id="id_14036987_3431115_2_1">Other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherAssets1Abstract" xlink:to="mfc_OtherAssets1Abstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherAssetsAmountContributedToFairValueOfPlanAssets" xlink:label="ifrs-full_OtherAssetsAmountContributedToFairValueOfPlanAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherAssetsAmountContributedToFairValueOfPlanAssets_lbl" xml:lang="en-US" id="id_14036987_3422521_1_1">Other assets, amount contributed to fair value of plan assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherAssetsAmountContributedToFairValueOfPlanAssets_lbl" xml:lang="en-US" id="id_14036987_3422521_2_1">Other investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherAssetsAmountContributedToFairValueOfPlanAssets" xlink:to="ifrs-full_OtherAssetsAmountContributedToFairValueOfPlanAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherAssetsAndLiabilitiesMember" xlink:label="mfc_OtherAssetsAndLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherAssetsAndLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3480170_3_1">Other assets and liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherAssetsAndLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3480170_1_1">Other assets and liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherAssetsAndLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3480170_2_1">Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherAssetsAndLiabilitiesMember" xlink:to="mfc_OtherAssetsAndLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherAssetsAndLiabilitiesNetMember" xlink:label="mfc_OtherAssetsAndLiabilitiesNetMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherAssetsAndLiabilitiesNetMember_lbl" xml:lang="en-US" id="id_14036987_3489246_3_1">Other assets and liabilities, net.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherAssetsAndLiabilitiesNetMember_lbl" xml:lang="en-US" id="id_14036987_3489246_1_1">Other Assets and Liabilities Net [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherAssetsAndLiabilitiesNetMember_lbl" xml:lang="en-US" id="id_14036987_3489246_2_1">Other assets and liabilities, net [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherAssetsAndLiabilitiesNetMember" xlink:to="mfc_OtherAssetsAndLiabilitiesNetMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherAssetsExcludingReinsuranceAssets" xlink:label="mfc_OtherAssetsExcludingReinsuranceAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherAssetsExcludingReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3453734_3_1">Other assets excluding reinsurance assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherAssetsExcludingReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3453734_1_1">Other Assets Excluding Reinsurance Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherAssetsExcludingReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3453734_2_1">Other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherAssetsExcludingReinsuranceAssets" xlink:to="mfc_OtherAssetsExcludingReinsuranceAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherAssetsMember" xlink:label="ifrs-full_OtherAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3422077_1_1">Other assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3422077_2_1">Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherAssetsMember" xlink:to="ifrs-full_OtherAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherCashAndShorttermSecuritiesMember" xlink:label="mfc_OtherCashAndShorttermSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherCashAndShorttermSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480121_3_1">Other cash and short-term securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherCashAndShorttermSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480121_1_1">Other cash and short-term securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherCashAndShorttermSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480121_2_1">Other cash and short-term securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherCashAndShorttermSecuritiesMember" xlink:to="mfc_OtherCashAndShorttermSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherCommercialMortgagesMember" xlink:label="mfc_OtherCommercialMortgagesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherCommercialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479981_3_1">Other commercial mortgages.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherCommercialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479981_1_1">Other commercial mortgages [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherCommercialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479981_2_1">Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherCommercialMortgagesMember" xlink:to="mfc_OtherCommercialMortgagesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3422081_1_1">Other comprehensive income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xml:lang="en-US" id="id_14036987_3422081_6_1">Other comprehensive income (loss), net of tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeAbstract" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3422082_1_1">Other comprehensive income [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xml:lang="en-US" id="id_14036987_3422082_2_1">Other comprehensive income (loss) ("OCI"), net of tax:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherComprehensiveIncomeAttributableToPolicyholders" xlink:label="mfc_OtherComprehensiveIncomeAttributableToPolicyholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherComprehensiveIncomeAttributableToPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3446730_3_1">Other comprehensive income attributable to policyholders.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherComprehensiveIncomeAttributableToPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3446730_1_1">Other comprehensive income attributable to policyholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherComprehensiveIncomeAttributableToPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3446730_2_1">Other comprehensive income attributed to policyholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherComprehensiveIncomeAttributableToPolicyholders" xlink:to="mfc_OtherComprehensiveIncomeAttributableToPolicyholders_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3422538_1_1">Other comprehensive income, net of tax, gains (losses) on remeasurements of defined benefit plans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3422538_2_1">Change in actuarial gains (losses) on pension and other post-employment plans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3422538_12_1">Change in pension and other post-employment plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_lbl" xml:lang="en-US" id="id_14036987_3422539_1_1">Other comprehensive income, net of tax, gains (losses) on revaluation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_lbl" xml:lang="en-US" id="id_14036987_3422539_2_1">Change in real estate revaluation reserve</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_lbl" xml:lang="en-US" id="id_14036987_3422539_12_1">Real estate revaluation reserve</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3422093_1_1">Other comprehensive income that will be reclassified to profit or loss, net of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3422093_6_1">Total items that may be subsequently reclassified to net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossWithinTheNextTwelveMonthsnetOfTax" xlink:label="mfc_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossWithinTheNextTwelveMonthsnetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossWithinTheNextTwelveMonthsnetOfTax_lbl" xml:lang="en-US" id="id_14036987_3443108_3_1">Other Comprehensive Income That Will Be Reclassified To Profit Or Loss Within The next 12 monthsNet Of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossWithinTheNextTwelveMonthsnetOfTax_lbl" xml:lang="en-US" id="id_14036987_3443108_1_1">Other Comprehensive Income That Will Be Reclassified To Profit Or Loss Within The next Twelve monthsNet Of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossWithinTheNextTwelveMonthsnetOfTax_lbl" xml:lang="en-US" id="id_14036987_3443108_2_1">Net loss that will be reclassified from AOCI to net income within next 12 months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossWithinTheNextTwelveMonthsnetOfTax" xlink:to="mfc_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossWithinTheNextTwelveMonthsnetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3422392_1_1">Other comprehensive income that will not be reclassified to profit or loss, net of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3422392_6_1">Total items that will not be reclassified to net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests" xlink:label="mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3446731_3_1">Other comprehensive loss attributable to noncontrolling interests.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3446731_1_1">Other comprehensive loss attributable to noncontrolling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3446731_14_1">Other comprehensive income (loss) attributed to non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests" xlink:to="mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherCountriesMember" xlink:label="mfc_OtherCountriesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherCountriesMember_lbl" xml:lang="en-US" id="id_14036987_3476143_3_1">Other countries.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherCountriesMember_lbl" xml:lang="en-US" id="id_14036987_3476143_1_1">Other Countries [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherCountriesMember_lbl" xml:lang="en-US" id="id_14036987_3476143_2_1">Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherCountriesMember" xlink:to="mfc_OtherCountriesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows" xlink:label="ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows_lbl" xml:lang="en-US" id="id_14036987_3422397_1_1">Other differences to cash and cash equivalents in statement of cash flows</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:label="ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows_lbl" xml:lang="en-US" id="id_14036987_3422397_16_1">Net payments in transit, included in other liabilities, end of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:label="ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows_lbl" xml:lang="en-US" id="id_14036987_3422397_17_1">Net payments in transit, included in other liabilities, beginning of year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows" xlink:to="ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherEquityInstrumentVestingPeriod" xlink:label="mfc_OtherEquityInstrumentVestingPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherEquityInstrumentVestingPeriod_lbl" xml:lang="en-US" id="id_14036987_3472698_3_1">Other equity instrument vesting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherEquityInstrumentVestingPeriod_lbl" xml:lang="en-US" id="id_14036987_3472698_1_1">Other Equity Instrument Vesting Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherEquityInstrumentVestingPeriod_lbl" xml:lang="en-US" id="id_14036987_3472698_2_1">Vesting period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherEquityInstrumentVestingPeriod" xlink:to="mfc_OtherEquityInstrumentVestingPeriod_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherEquitySecuritiesMember" xlink:label="ifrs-full_OtherEquitySecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherEquitySecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3422557_1_1">Other equity securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherEquitySecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3422557_2_1">Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherEquitySecuritiesMember" xlink:to="ifrs-full_OtherEquitySecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherExpenseByFunction" xlink:label="ifrs-full_OtherExpenseByFunction"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherExpenseByFunction_lbl" xml:lang="en-US" id="id_14036987_3422401_1_1">Other expense, by function</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherExpenseByFunction_lbl" xml:lang="en-US" id="id_14036987_3422401_2_1">Other expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByFunction" xlink:to="ifrs-full_OtherExpenseByFunction_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherExpenseByNature" xlink:label="ifrs-full_OtherExpenseByNature"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherExpenseByNature_lbl" xml:lang="en-US" id="id_14036987_3422558_1_1">Other expenses, by nature</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherExpenseByNature_lbl" xml:lang="en-US" id="id_14036987_3422558_2_1">Other expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByNature" xlink:to="ifrs-full_OtherExpenseByNature_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherFinancialAssetMember" xlink:label="mfc_OtherFinancialAssetMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherFinancialAssetMember_lbl" xml:lang="en-US" id="id_14036987_3477423_3_1">Other financial asset.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherFinancialAssetMember_lbl" xml:lang="en-US" id="id_14036987_3477423_1_1">Other financial asset [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherFinancialAssetMember_lbl" xml:lang="en-US" id="id_14036987_3477423_2_1">Other financial assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherFinancialAssetMember" xlink:to="mfc_OtherFinancialAssetMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherFinancialLiabilities" xlink:label="ifrs-full_OtherFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3421726_1_1">Other financial liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3421726_2_1">Other liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinancialLiabilities" xlink:to="ifrs-full_OtherFinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherFixedInterestRateInvestmentsMember" xlink:label="mfc_OtherFixedInterestRateInvestmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherFixedInterestRateInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3489465_3_1">Other fixed interest rate investments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherFixedInterestRateInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3489465_1_1">Other Fixed Interest Rate Investments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherFixedInterestRateInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3489465_2_1">Other fixed interest rate investments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherFixedInterestRateInvestmentsMember" xlink:to="mfc_OtherFixedInterestRateInvestmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherGovernmentAndAgencyMember" xlink:label="mfc_OtherGovernmentAndAgencyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherGovernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3478995_3_1">Other government and agency.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherGovernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3478995_1_1">Other government and agency [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherGovernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3478995_2_1">Other government and agency [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherGovernmentAndAgencyMember" xlink:to="mfc_OtherGovernmentAndAgencyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherInsuranceContractLiabilitiesMember" xlink:label="mfc_OtherInsuranceContractLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479009_3_1">Other insurance contract liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479009_1_1">Other insurance contract liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479009_2_1">Other insurance contract liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherInsuranceContractLiabilitiesMember" xlink:to="mfc_OtherInsuranceContractLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherIntangibleAssetsMember" xlink:label="ifrs-full_OtherIntangibleAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherIntangibleAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3422562_1_1">Other intangible assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIntangibleAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3422562_2_1">Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssetsMember" xlink:to="ifrs-full_OtherIntangibleAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherInvestedAssets" xlink:label="mfc_OtherInvestedAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherInvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3444407_3_1">Other invested assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherInvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3444407_1_1">Other Invested Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherInvestedAssets_lbl" xml:lang="en-US" id="id_14036987_3444407_2_1">Other invested assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherInvestedAssets" xlink:to="mfc_OtherInvestedAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherInvestedAssetsFairValueDiscountRate" xlink:label="mfc_OtherInvestedAssetsFairValueDiscountRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherInvestedAssetsFairValueDiscountRate_lbl" xml:lang="en-US" id="id_14036987_3526258_3_1">Other invested assets fair value discount rate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherInvestedAssetsFairValueDiscountRate_lbl" xml:lang="en-US" id="id_14036987_3526258_1_1">Other invested assets fair value discount rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherInvestedAssetsFairValueDiscountRate_lbl" xml:lang="en-US" id="id_14036987_3526258_2_1">Other invested assets fair value discount rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherInvestedAssetsFairValueDiscountRate" xlink:to="mfc_OtherInvestedAssetsFairValueDiscountRate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherInvestedAssetsLeveragedLeases" xlink:label="mfc_OtherInvestedAssetsLeveragedLeases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherInvestedAssetsLeveragedLeases_lbl" xml:lang="en-US" id="id_14036987_3446666_3_1">Other invested assets leveraged leases.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherInvestedAssetsLeveragedLeases_lbl" xml:lang="en-US" id="id_14036987_3446666_1_1">Other invested assets leveraged leases</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherInvestedAssetsLeveragedLeases_lbl" xml:lang="en-US" id="id_14036987_3446666_2_1">Other invested assets leveraged leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherInvestedAssetsLeveragedLeases" xlink:to="mfc_OtherInvestedAssetsLeveragedLeases_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherInvestedAssetsMember" xlink:label="mfc_OtherInvestedAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherInvestedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479006_3_1">Other invested assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherInvestedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479006_1_1">Other invested assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherInvestedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479006_2_1">Other invested assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherInvestedAssetsMember" xlink:to="mfc_OtherInvestedAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherInvestmentIncomeMember" xlink:label="mfc_OtherInvestmentIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherInvestmentIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3479877_3_1">Other investment income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherInvestmentIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3479877_1_1">Other investment Income [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherInvestmentIncomeMember_lbl" xml:lang="en-US" id="id_14036987_3479877_2_1">Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherInvestmentIncomeMember" xlink:to="mfc_OtherInvestmentIncomeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherInvestmentsInSegregatedFundsMember" xlink:label="mfc_OtherInvestmentsInSegregatedFundsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherInvestmentsInSegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3480167_3_1">Other investments in segregated funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherInvestmentsInSegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3480167_1_1">Other Investments in Segregated Funds [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherInvestmentsInSegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3480167_2_1">Other investments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherInvestmentsInSegregatedFundsMember" xlink:to="mfc_OtherInvestmentsInSegregatedFundsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherInvestmentsMember" xlink:label="mfc_OtherInvestmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3532588_3_1">Other investments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3532588_1_1">Other investments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3532588_2_1">Other investments [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherInvestmentsMember" xlink:to="mfc_OtherInvestmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherJointVenturesMember" xlink:label="mfc_OtherJointVenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherJointVenturesMember_lbl" xml:lang="en-US" id="id_14036987_3485180_3_1">Other joint ventures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherJointVenturesMember_lbl" xml:lang="en-US" id="id_14036987_3485180_1_1">Other joint ventures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherJointVenturesMember_lbl" xml:lang="en-US" id="id_14036987_3485180_2_1">Other joint ventures [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherJointVenturesMember" xlink:to="mfc_OtherJointVenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherLiabilities" xlink:label="ifrs-full_OtherLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherLiabilities_lbl" xml:lang="en-US" id="id_14036987_3422104_1_1">Other liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherLiabilities_lbl" xml:lang="en-US" id="id_14036987_3422104_2_1">Total other liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherLiabilities" xlink:to="ifrs-full_OtherLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherLiabilitiesMember" xlink:label="mfc_OtherLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3532401_3_1">Other Liabilities .</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3532401_1_1">Other Liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3532401_2_1">Other Liabilities [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherLiabilitiesMember" xlink:to="mfc_OtherLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3422412_1_1">Other non-current financial liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl" xml:lang="en-US" id="id_14036987_3422412_2_1">Other liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:to="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherPledgeMember" xlink:label="mfc_OtherPledgeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherPledgeMember_lbl" xml:lang="en-US" id="id_14036987_3480400_3_1">Other pledge.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherPledgeMember_lbl" xml:lang="en-US" id="id_14036987_3480400_1_1">Other Pledge [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherPledgeMember_lbl" xml:lang="en-US" id="id_14036987_3480400_2_1">Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherPledgeMember" xlink:to="mfc_OtherPledgeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherProvisionsMember_lbl" xml:lang="en-US" id="id_14036987_3422111_1_1">Other provisions [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherProvisionsMember_lbl" xml:lang="en-US" id="id_14036987_3422111_2_1">Other provisions [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ifrs-full_OtherProvisionsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherRefinementsMember" xlink:label="mfc_OtherRefinementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherRefinementsMember_lbl" xml:lang="en-US" id="id_14036987_3536957_3_1">Other refinements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherRefinementsMember_lbl" xml:lang="en-US" id="id_14036987_3536957_1_1">Other refinements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherRefinementsMember_lbl" xml:lang="en-US" id="id_14036987_3536957_2_1">Other refinements [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherRefinementsMember" xlink:to="mfc_OtherRefinementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherReservesAbstract" xlink:label="ifrs-full_OtherReservesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherReservesAbstract_lbl" xml:lang="en-US" id="id_14036987_3422415_1_1">Other reserves [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherReservesAbstract_lbl" xml:lang="en-US" id="id_14036987_3422415_2_1">Shareholders' accumulated other comprehensive income (loss):</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReservesAbstract" xlink:to="ifrs-full_OtherReservesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRevenue" xlink:label="ifrs-full_OtherRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherRevenue_lbl" xml:lang="en-US" id="id_14036987_3422416_1_1">Other revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_OtherRevenue_lbl" xml:lang="en-US" id="id_14036987_3422416_32_1">Other revenue (note 14)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherRevenue_lbl" xml:lang="en-US" id="id_14036987_3422416_2_1">Net other revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherRevenue_lbl" xml:lang="en-US" id="id_14036987_3422416_12_1">Other revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherRevenue" xlink:to="ifrs-full_OtherRevenue_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherRevenueMember" xlink:label="mfc_OtherRevenueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherRevenueMember_lbl" xml:lang="en-US" id="id_14036987_3481422_3_1">Other revenue [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherRevenueMember_lbl" xml:lang="en-US" id="id_14036987_3481422_1_1">Other revenue [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherRevenueMember_lbl" xml:lang="en-US" id="id_14036987_3481422_2_1">Other revenue [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherRevenueMember" xlink:to="mfc_OtherRevenueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherSecuritizedAssetsMember" xlink:label="mfc_OtherSecuritizedAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherSecuritizedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480138_3_1">Other securitized assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherSecuritizedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480138_1_1">Other securitized assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherSecuritizedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480138_2_1">Other securitized assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherSecuritizedAssetsMember" xlink:to="mfc_OtherSecuritizedAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherSubsidiariesMember" xlink:label="mfc_OtherSubsidiariesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherSubsidiariesMember_lbl" xml:lang="en-US" id="id_14036987_3476198_3_1">Other subsidiaries.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherSubsidiariesMember_lbl" xml:lang="en-US" id="id_14036987_3476198_1_1">Other Subsidiaries [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherSubsidiariesMember_lbl" xml:lang="en-US" id="id_14036987_3476198_2_1">Other subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherSubsidiariesMember" xlink:to="mfc_OtherSubsidiariesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherSubsidiariesOnCombinedBasisMember" xlink:label="mfc_OtherSubsidiariesOnCombinedBasisMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherSubsidiariesOnCombinedBasisMember_lbl" xml:lang="en-US" id="id_14036987_3489371_3_1">Other subsidiaries on a combined basis.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherSubsidiariesOnCombinedBasisMember_lbl" xml:lang="en-US" id="id_14036987_3489371_1_1">Other Subsidiaries on Combined Basis [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherSubsidiariesOnCombinedBasisMember_lbl" xml:lang="en-US" id="id_14036987_3489371_2_1">Other subsidiaries of MFC on a combined basis [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherSubsidiariesOnCombinedBasisMember" xlink:to="mfc_OtherSubsidiariesOnCombinedBasisMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl" xml:lang="en-US" id="id_14036987_3422570_1_1">Other tax effects for reconciliation between accounting profit and tax expense (income)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl" xml:lang="en-US" id="id_14036987_3422570_2_1">Other differences</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:to="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OtherUpdatesMember" xlink:label="mfc_OtherUpdatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OtherUpdatesMember_lbl" xml:lang="en-US" id="id_14036987_3531531_3_1">The member stands for other updates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OtherUpdatesMember_lbl" xml:lang="en-US" id="id_14036987_3531531_1_1">Other updates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OtherUpdatesMember_lbl" xml:lang="en-US" id="id_14036987_3531531_2_1">Other updates [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OtherUpdatesMember" xlink:to="mfc_OtherUpdatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OutstandingPremiums" xlink:label="mfc_OutstandingPremiums"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OutstandingPremiums_lbl" xml:lang="en-US" id="id_14036987_3443887_3_1">Outstanding Premiums</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OutstandingPremiums_lbl" xml:lang="en-US" id="id_14036987_3443887_1_1">Outstanding Premiums</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OutstandingPremiums_lbl" xml:lang="en-US" id="id_14036987_3443887_2_1">Outstanding premiums</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OutstandingPremiums" xlink:to="mfc_OutstandingPremiums_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OverCollateralizedOnOverTheCounterDerivativeAssets" xlink:label="mfc_OverCollateralizedOnOverTheCounterDerivativeAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OverCollateralizedOnOverTheCounterDerivativeAssets_lbl" xml:lang="en-US" id="id_14036987_3446653_3_1">Over collateralized on over the counter derivative assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OverCollateralizedOnOverTheCounterDerivativeAssets_lbl" xml:lang="en-US" id="id_14036987_3446653_1_1">Over collateralized on over the counter derivative assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OverCollateralizedOnOverTheCounterDerivativeAssets_lbl" xml:lang="en-US" id="id_14036987_3446653_2_1">Over-collateralized on OTC derivative assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OverCollateralizedOnOverTheCounterDerivativeAssets" xlink:to="mfc_OverCollateralizedOnOverTheCounterDerivativeAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OverCollateralizedOnOverTheCounterDerivativeLiabilities" xlink:label="mfc_OverCollateralizedOnOverTheCounterDerivativeLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OverCollateralizedOnOverTheCounterDerivativeLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446654_3_1">Over collateralized on over the counter derivative liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OverCollateralizedOnOverTheCounterDerivativeLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446654_1_1">Over collateralized on over the counter derivative liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OverCollateralizedOnOverTheCounterDerivativeLiabilities_lbl" xml:lang="en-US" id="id_14036987_3446654_2_1">Over-collateralized on OTC derivative liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OverCollateralizedOnOverTheCounterDerivativeLiabilities" xlink:to="mfc_OverCollateralizedOnOverTheCounterDerivativeLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OverCollateralizedOnRepurchaseAgreements" xlink:label="mfc_OverCollateralizedOnRepurchaseAgreements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OverCollateralizedOnRepurchaseAgreements_lbl" xml:lang="en-US" id="id_14036987_3446657_3_1">Over collateralized on repurchase agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OverCollateralizedOnRepurchaseAgreements_lbl" xml:lang="en-US" id="id_14036987_3446657_1_1">Over collateralized on repurchase agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OverCollateralizedOnRepurchaseAgreements_lbl" xml:lang="en-US" id="id_14036987_3446657_2_1">Over-collateralized on repurchase agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OverCollateralizedOnRepurchaseAgreements" xlink:to="mfc_OverCollateralizedOnRepurchaseAgreements_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_OverCollateralizedOnSecuritiesLendingAndReversePurchaseAgreements" xlink:label="mfc_OverCollateralizedOnSecuritiesLendingAndReversePurchaseAgreements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_OverCollateralizedOnSecuritiesLendingAndReversePurchaseAgreements_lbl" xml:lang="en-US" id="id_14036987_3446655_3_1">Over collateralized on securities lending and reverse purchase agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_OverCollateralizedOnSecuritiesLendingAndReversePurchaseAgreements_lbl" xml:lang="en-US" id="id_14036987_3446655_1_1">Over collateralized on securities lending and reverse purchase agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_OverCollateralizedOnSecuritiesLendingAndReversePurchaseAgreements_lbl" xml:lang="en-US" id="id_14036987_3446655_2_1">Over-collateralized on securities lending and reverse purchase agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_OverCollateralizedOnSecuritiesLendingAndReversePurchaseAgreements" xlink:to="mfc_OverCollateralizedOnSecuritiesLendingAndReversePurchaseAgreements_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ParticipatingPolicyholdersEquity" xlink:label="mfc_ParticipatingPolicyholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ParticipatingPolicyholdersEquity_lbl" xml:lang="en-US" id="id_14036987_3443873_3_1">Participating policyholders equity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ParticipatingPolicyholdersEquity_lbl" xml:lang="en-US" id="id_14036987_3443873_1_1">Participating Policyholders Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ParticipatingPolicyholdersEquity_lbl" xml:lang="en-US" id="id_14036987_3443873_2_1">Participating policyholders' equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ParticipatingPolicyholdersEquity" xlink:to="mfc_ParticipatingPolicyholdersEquity_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ParticipatingPolicyholdersEquityMember" xlink:label="mfc_ParticipatingPolicyholdersEquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ParticipatingPolicyholdersEquityMember_lbl" xml:lang="en-US" id="id_14036987_3477217_3_1">Participating policyholders equity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ParticipatingPolicyholdersEquityMember_lbl" xml:lang="en-US" id="id_14036987_3477217_1_1">Participating Policyholders Equity [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ParticipatingPolicyholdersEquityMember_lbl" xml:lang="en-US" id="id_14036987_3477217_2_1">Participating Policyholders' Equity [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ParticipatingPolicyholdersEquityMember" xlink:to="mfc_ParticipatingPolicyholdersEquityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ifrs-full_ParValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ParValuePerShare_lbl" xml:lang="en-US" id="id_14036987_3422421_1_1">Par value per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ParValuePerShare_lbl" xml:lang="en-US" id="id_14036987_3422421_2_1">Price per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PastDueStatusAxis" xlink:label="ifrs-full_PastDueStatusAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PastDueStatusAxis_lbl" xml:lang="en-US" id="id_14036987_3421750_1_1">Past due status [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PastDueStatusAxis_lbl" xml:lang="en-US" id="id_14036987_3421750_2_1">Past due status [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PastDueStatusMember_lbl" xml:lang="en-US" id="id_14036987_3422574_1_1">Past due status [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PastDueStatusMember_lbl" xml:lang="en-US" id="id_14036987_3422574_2_1">Past due status [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastDueStatusMember" xlink:to="ifrs-full_PastDueStatusMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PastServiceCostAndGainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PastServiceCostAndGainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PastServiceCostAndGainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3422125_1_1">Past service cost and gains (losses) arising from settlements, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_PastServiceCostAndGainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3422125_19_1">Service cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastServiceCostAndGainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_PastServiceCostAndGainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PastServiceCostCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:label="mfc_PastServiceCostCurtailmentsNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PastServiceCostCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3541999_3_1">Past service cost curtailments, net defined benefit liability (asset).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PastServiceCostCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3541999_1_1">Past service cost curtailments, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PastServiceCostCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3541999_2_1">Past service cost - curtailments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_PastServiceCostCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3541999_14_1">Past service cost - curtailments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PastServiceCostCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:to="mfc_PastServiceCostCurtailmentsNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset" xlink:label="mfc_PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3457489_3_1">Past service cost plan amendments net defined benefit liability asset.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3457489_1_1">Past service cost plan amendments net defined benefit liability asset</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3457489_2_1">Past service cost - plan amendments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3457489_12_1">Past service cost amendments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3457489_14_1">Past service cost - amendments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset" xlink:to="mfc_PastServiceCostPlanAmendmentsNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3422128_1_1">Payments from plan, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3422128_14_1">Benefits paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PaymentsToAcquireOrRedeemEntitysShares" xlink:label="ifrs-full_PaymentsToAcquireOrRedeemEntitysShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PaymentsToAcquireOrRedeemEntitysShares_lbl" xml:lang="en-US" id="id_14036987_3421754_1_1">Payments to acquire or redeem entity's shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PaymentsToAcquireOrRedeemEntitysShares_lbl" xml:lang="en-US" id="id_14036987_3421754_14_1">Common shares repurchased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsToAcquireOrRedeemEntitysShares" xlink:to="ifrs-full_PaymentsToAcquireOrRedeemEntitysShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PensionDefinedBenefitPlansMember" xlink:label="ifrs-full_PensionDefinedBenefitPlansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PensionDefinedBenefitPlansMember_lbl" xml:lang="en-US" id="id_14036987_3422589_1_1">Pension defined benefit plans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PensionDefinedBenefitPlansMember_lbl" xml:lang="en-US" id="id_14036987_3422589_2_1">Pension defined benefit plans [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PensionDefinedBenefitPlansMember" xlink:to="ifrs-full_PensionDefinedBenefitPlansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PensionsAndPostemploymentBenefitsMember" xlink:label="mfc_PensionsAndPostemploymentBenefitsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PensionsAndPostemploymentBenefitsMember_lbl" xml:lang="en-US" id="id_14036987_3479869_3_1">Pensions and post-employment benefits.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PensionsAndPostemploymentBenefitsMember_lbl" xml:lang="en-US" id="id_14036987_3479869_1_1">Pensions and post-employment benefits [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PensionsAndPostemploymentBenefitsMember_lbl" xml:lang="en-US" id="id_14036987_3479869_2_1">Pensions and post-employment benefits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PensionsAndPostemploymentBenefitsMember" xlink:to="mfc_PensionsAndPostemploymentBenefitsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PercentageCededToReinsurers" xlink:label="mfc_PercentageCededToReinsurers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PercentageCededToReinsurers_lbl" xml:lang="en-US" id="id_14036987_3526274_3_1">Percentage ceded to reinsurers.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PercentageCededToReinsurers_lbl" xml:lang="en-US" id="id_14036987_3526274_1_1">Percentage ceded to reinsurers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PercentageCededToReinsurers_lbl" xml:lang="en-US" id="id_14036987_3526274_2_1">Percentage ceded to reinsurers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PercentageCededToReinsurers" xlink:to="mfc_PercentageCededToReinsurers_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PercentageOfChangesInMarketValuesOfPubliclyTradedEquities" xlink:label="mfc_PercentageOfChangesInMarketValuesOfPubliclyTradedEquities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PercentageOfChangesInMarketValuesOfPubliclyTradedEquities_lbl" xml:lang="en-US" id="id_14036987_3526521_3_1">Percentage of changes in market values of publicly traded equities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PercentageOfChangesInMarketValuesOfPubliclyTradedEquities_lbl" xml:lang="en-US" id="id_14036987_3526521_1_1">Percentage Of Changes In Market Values Of Publicly Traded Equities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PercentageOfChangesInMarketValuesOfPubliclyTradedEquities_lbl" xml:lang="en-US" id="id_14036987_3526521_2_1">Percentage of changes in market values of publicly traded equities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_PercentageOfChangesInMarketValuesOfPubliclyTradedEquities_lbl" xml:lang="en-US" id="id_14036987_3526521_12_1">Percentage of expected changes in market values of publicly traded equities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PercentageOfChangesInMarketValuesOfPubliclyTradedEquities" xlink:to="mfc_PercentageOfChangesInMarketValuesOfPubliclyTradedEquities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PercentageOfDebtSecuritiesInInvestmentGradeWithRatingsRangingBetweenAaaToBbb" xlink:label="mfc_PercentageOfDebtSecuritiesInInvestmentGradeWithRatingsRangingBetweenAaaToBbb"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PercentageOfDebtSecuritiesInInvestmentGradeWithRatingsRangingBetweenAaaToBbb_lbl" xml:lang="en-US" id="id_14036987_3541967_3_1">Percentage of debt securities in investment grade with ratings ranging between AAA to BBB.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PercentageOfDebtSecuritiesInInvestmentGradeWithRatingsRangingBetweenAaaToBbb_lbl" xml:lang="en-US" id="id_14036987_3541967_1_1">Percentage of debt securities in investment grade with ratings ranging between AAA to BBB</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PercentageOfDebtSecuritiesInInvestmentGradeWithRatingsRangingBetweenAaaToBbb_lbl" xml:lang="en-US" id="id_14036987_3541967_2_1">Percentage of debt securities in investment grade with ratings ranging between AAA to BBB</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PercentageOfDebtSecuritiesInInvestmentGradeWithRatingsRangingBetweenAaaToBbb" xlink:to="mfc_PercentageOfDebtSecuritiesInInvestmentGradeWithRatingsRangingBetweenAaaToBbb_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PercentageOfInvestmentsInAssociates" xlink:label="mfc_PercentageOfInvestmentsInAssociates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PercentageOfInvestmentsInAssociates_lbl" xml:lang="en-US" id="id_14036987_3525179_3_1">Percentage of investments in associates carrying value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PercentageOfInvestmentsInAssociates_lbl" xml:lang="en-US" id="id_14036987_3525179_1_1">Percentage of Investments in Associates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PercentageOfInvestmentsInAssociates_lbl" xml:lang="en-US" id="id_14036987_3525179_2_1">Percentage of investments in associates carrying value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PercentageOfInvestmentsInAssociates" xlink:to="mfc_PercentageOfInvestmentsInAssociates_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PercentageOfMortgagePortfolio" xlink:label="mfc_PercentageOfMortgagePortfolio"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PercentageOfMortgagePortfolio_lbl" xml:lang="en-US" id="id_14036987_3525257_3_1">Total mortgage portfolio percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PercentageOfMortgagePortfolio_lbl" xml:lang="en-US" id="id_14036987_3525257_1_1">Percentage Of Mortgage Portfolio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PercentageOfMortgagePortfolio_lbl" xml:lang="en-US" id="id_14036987_3525257_2_1">Percentage of total mortgage portfolio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PercentageOfMortgagePortfolio" xlink:to="mfc_PercentageOfMortgagePortfolio_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PercentageOfPlanAssetsNotQuotedInActiveMarkets" xlink:label="mfc_PercentageOfPlanAssetsNotQuotedInActiveMarkets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PercentageOfPlanAssetsNotQuotedInActiveMarkets_lbl" xml:lang="en-US" id="id_14036987_3526517_3_1">Percentage of plan assets not quoted in active markets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PercentageOfPlanAssetsNotQuotedInActiveMarkets_lbl" xml:lang="en-US" id="id_14036987_3526517_1_1">Percentage of plan assets not quoted in active markets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PercentageOfPlanAssetsNotQuotedInActiveMarkets_lbl" xml:lang="en-US" id="id_14036987_3526517_2_1">Percentage of plan assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PercentageOfPlanAssetsNotQuotedInActiveMarkets" xlink:to="mfc_PercentageOfPlanAssetsNotQuotedInActiveMarkets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PercentageOfReasonablyPossibleDecreaseInActuarialAssumption" xlink:label="ifrs-full_PercentageOfReasonablyPossibleDecreaseInActuarialAssumption"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PercentageOfReasonablyPossibleDecreaseInActuarialAssumption_lbl" xml:lang="en-US" id="id_14036987_3422591_1_1">Percentage of reasonably possible decrease in actuarial assumption</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PercentageOfReasonablyPossibleDecreaseInActuarialAssumption_lbl" xml:lang="en-US" id="id_14036987_3422591_2_1">Percentage of reasonably possible decrease in actuarial assumption</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfReasonablyPossibleDecreaseInActuarialAssumption" xlink:to="ifrs-full_PercentageOfReasonablyPossibleDecreaseInActuarialAssumption_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption_lbl" xml:lang="en-US" id="id_14036987_3422592_1_1">Percentage of reasonably possible increase in actuarial assumption</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption_lbl" xml:lang="en-US" id="id_14036987_3422592_2_1">Percentage of reasonably possible increase in actuarial assumption</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:to="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided" xlink:label="mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided_lbl" xml:lang="en-US" id="id_14036987_3526520_3_1">Percentage provision for adverse deviation assumptions not specifically provided.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided_lbl" xml:lang="en-US" id="id_14036987_3526520_1_1">Percentage Provision For Adverse Deviation Assumptions Not Specifically Provided</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided_lbl" xml:lang="en-US" id="id_14036987_3526520_2_1">Percentage provision for adverse deviation assumptions not specifically provided</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided" xlink:to="mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PerformanceObligationsAxis" xlink:label="ifrs-full_PerformanceObligationsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PerformanceObligationsAxis_lbl" xml:lang="en-US" id="id_14036987_3422430_1_1">Performance obligations [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PerformanceObligationsAxis_lbl" xml:lang="en-US" id="id_14036987_3422430_2_1">Performance obligations [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PerformanceObligationsAxis" xlink:to="ifrs-full_PerformanceObligationsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PerformanceObligationsMember" xlink:label="ifrs-full_PerformanceObligationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PerformanceObligationsMember_lbl" xml:lang="en-US" id="id_14036987_3422134_1_1">Performance obligations [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PerformanceObligationsMember_lbl" xml:lang="en-US" id="id_14036987_3422134_2_1">Performance obligations [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PerformanceObligationsMember" xlink:to="ifrs-full_PerformanceObligationsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PerformanceShareUnitsMember" xlink:label="mfc_PerformanceShareUnitsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PerformanceShareUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3479982_3_1">Performance share units (PSUs) .</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PerformanceShareUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3479982_1_1">Performance share units (PSUs) [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PerformanceShareUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3479982_2_1">Performance share units (PSUs) [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PerformanceShareUnitsMember" xlink:to="mfc_PerformanceShareUnitsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PerformingMember" xlink:label="mfc_PerformingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PerformingMember_lbl" xml:lang="en-US" id="id_14036987_3479710_3_1">Performing.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PerformingMember_lbl" xml:lang="en-US" id="id_14036987_3479710_1_1">Performing [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PerformingMember_lbl" xml:lang="en-US" id="id_14036987_3479710_2_1">Performing [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PerformingMember" xlink:to="mfc_PerformingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PlanAssetsAtFairValue" xlink:label="ifrs-full_PlanAssetsAtFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PlanAssetsAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3422597_1_1">Plan assets, at fair value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PlanAssetsAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3422597_2_1">Fair value of plan assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_PlanAssetsAtFairValue_lbl" xml:lang="en-US" id="id_14036987_3422597_6_1">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsAtFairValue" xlink:to="ifrs-full_PlanAssetsAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PlanAssetsMember" xlink:label="ifrs-full_PlanAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PlanAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3422437_1_1">Plan assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PlanAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3422437_2_1">Plan assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsMember" xlink:to="ifrs-full_PlanAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PolicyholderDividendsAndExperienceRatingRefundsMember" xlink:label="mfc_PolicyholderDividendsAndExperienceRatingRefundsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PolicyholderDividendsAndExperienceRatingRefundsMember_lbl" xml:lang="en-US" id="id_14036987_3479631_3_1">The member stands for policyholder dividends and experience rating refunds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PolicyholderDividendsAndExperienceRatingRefundsMember_lbl" xml:lang="en-US" id="id_14036987_3479631_1_1">Policyholder dividends and experience rating refunds [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PolicyholderDividendsAndExperienceRatingRefundsMember_lbl" xml:lang="en-US" id="id_14036987_3479631_2_1">Policyholder dividends and experience rating refunds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PolicyholderDividendsAndExperienceRatingRefundsMember" xlink:to="mfc_PolicyholderDividendsAndExperienceRatingRefundsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PolicyLoansMember" xlink:label="mfc_PolicyLoansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PolicyLoansMember_lbl" xml:lang="en-US" id="id_14036987_3532594_3_1">Policy loans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PolicyLoansMember_lbl" xml:lang="en-US" id="id_14036987_3532594_1_1">Policy loans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PolicyLoansMember_lbl" xml:lang="en-US" id="id_14036987_3532594_2_1">Policy loans [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PolicyLoansMember" xlink:to="mfc_PolicyLoansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3421770_1_1">Post-employment benefit expense, defined benefit plans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3421770_6_1">Defined benefit cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans_lbl" xml:lang="en-US" id="id_14036987_3422602_1_1">Post-employment benefit expense, defined contribution plans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans_lbl" xml:lang="en-US" id="id_14036987_3422602_2_1">Defined contribution cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsAbstract" xlink:label="mfc_PotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsAbstract_lbl" xml:lang="en-US" id="id_14036987_3426268_3_1">Potential immediate impact on net income attributed to shareholders arising from changes to public equity returns.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsAbstract_lbl" xml:lang="en-US" id="id_14036987_3426268_1_1">Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsAbstract_lbl" xml:lang="en-US" id="id_14036987_3426268_2_1">Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsAbstract" xlink:to="mfc_PotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PowerAndInfrastructureInvestmentsMember" xlink:label="mfc_PowerAndInfrastructureInvestmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PowerAndInfrastructureInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479894_3_1">Power and infrastructure investments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PowerAndInfrastructureInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479894_1_1">Power and infrastructure investments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PowerAndInfrastructureInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479894_2_1">Power and infrastructure [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PowerAndInfrastructureInvestmentsMember" xlink:to="mfc_PowerAndInfrastructureInvestmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PreferenceSharesAnnualDividendPercentage" xlink:label="mfc_PreferenceSharesAnnualDividendPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PreferenceSharesAnnualDividendPercentage_lbl" xml:lang="en-US" id="id_14036987_3526516_3_1">Preference shares annual dividend percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PreferenceSharesAnnualDividendPercentage_lbl" xml:lang="en-US" id="id_14036987_3526516_1_1">Preference Shares Annual Dividend Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PreferenceSharesAnnualDividendPercentage_lbl" xml:lang="en-US" id="id_14036987_3526516_2_1">Annual dividend rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PreferenceSharesAnnualDividendPercentage" xlink:to="mfc_PreferenceSharesAnnualDividendPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PreferenceSharesAnnualDividendRate" xlink:label="mfc_PreferenceSharesAnnualDividendRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PreferenceSharesAnnualDividendRate_lbl" xml:lang="en-US" id="id_14036987_3530804_3_1">Preference shares annual dividend rate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PreferenceSharesAnnualDividendRate_lbl" xml:lang="en-US" id="id_14036987_3530804_1_1">Preference shares annual dividend rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PreferenceSharesAnnualDividendRate_lbl" xml:lang="en-US" id="id_14036987_3530804_2_1">Annual dividend rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PreferenceSharesAnnualDividendRate" xlink:to="mfc_PreferenceSharesAnnualDividendRate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PreferenceSharesAnnualYieldPercentage" xlink:label="mfc_PreferenceSharesAnnualYieldPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PreferenceSharesAnnualYieldPercentage_lbl" xml:lang="en-US" id="id_14036987_3526413_3_1">Preference shares annual yield percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PreferenceSharesAnnualYieldPercentage_lbl" xml:lang="en-US" id="id_14036987_3526413_1_1">Preference shares annual yield percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PreferenceSharesAnnualYieldPercentage_lbl" xml:lang="en-US" id="id_14036987_3526413_2_1">Annual dividend rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PreferenceSharesAnnualYieldPercentage" xlink:to="mfc_PreferenceSharesAnnualYieldPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PreferenceSharesEarliestRedemptionDate" xlink:label="mfc_PreferenceSharesEarliestRedemptionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PreferenceSharesEarliestRedemptionDate_lbl" xml:lang="en-US" id="id_14036987_3470990_3_1">Preference shares earliest redemption date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PreferenceSharesEarliestRedemptionDate_lbl" xml:lang="en-US" id="id_14036987_3470990_1_1">Preference shares earliest redemption date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PreferenceSharesEarliestRedemptionDate_lbl" xml:lang="en-US" id="id_14036987_3470990_2_1">Earliest redemption date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PreferenceSharesEarliestRedemptionDate" xlink:to="mfc_PreferenceSharesEarliestRedemptionDate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PreferenceSharesMember_lbl" xml:lang="en-US" id="id_14036987_3421773_1_1">Preference shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PreferenceSharesMember_lbl" xml:lang="en-US" id="id_14036987_3421773_2_1">Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PreferenceSharesMember" xlink:to="ifrs-full_PreferenceSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PreferredSharesIssueDate" xlink:label="mfc_PreferredSharesIssueDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PreferredSharesIssueDate_lbl" xml:lang="en-US" id="id_14036987_3470991_3_1">Preferred shares issue date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PreferredSharesIssueDate_lbl" xml:lang="en-US" id="id_14036987_3470991_1_1">Preferred shares issue date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PreferredSharesIssueDate_lbl" xml:lang="en-US" id="id_14036987_3470991_2_1">Issue date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PreferredSharesIssueDate" xlink:to="mfc_PreferredSharesIssueDate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PreferredSharesMember" xlink:label="mfc_PreferredSharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3477349_3_1">Preferred Shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3477349_1_1">Preferred Shares [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PreferredSharesMember_lbl" xml:lang="en-US" id="id_14036987_3477349_2_1">Preferred shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PreferredSharesMember" xlink:to="mfc_PreferredSharesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PreferredSharesOutstandingNetAmount" xlink:label="mfc_PreferredSharesOutstandingNetAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PreferredSharesOutstandingNetAmount_lbl" xml:lang="en-US" id="id_14036987_3453755_3_1">Preferred shares outstanding net amount.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PreferredSharesOutstandingNetAmount_lbl" xml:lang="en-US" id="id_14036987_3453755_1_1">Preferred Shares Outstanding Net Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PreferredSharesOutstandingNetAmount_lbl" xml:lang="en-US" id="id_14036987_3453755_2_1">Net amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PreferredSharesOutstandingNetAmount" xlink:to="mfc_PreferredSharesOutstandingNetAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PreferredSharesSpecifiedYieldPercentage" xlink:label="mfc_PreferredSharesSpecifiedYieldPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PreferredSharesSpecifiedYieldPercentage_lbl" xml:lang="en-US" id="id_14036987_3530202_3_1">Preferred shares specified yield percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PreferredSharesSpecifiedYieldPercentage_lbl" xml:lang="en-US" id="id_14036987_3530202_1_1">Preferred Shares Specified Yield Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PreferredSharesSpecifiedYieldPercentage_lbl" xml:lang="en-US" id="id_14036987_3530202_2_1">Specified yield percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PreferredSharesSpecifiedYieldPercentage" xlink:to="mfc_PreferredSharesSpecifiedYieldPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PreferredStockIssuedPricePerShare" xlink:label="mfc_PreferredStockIssuedPricePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PreferredStockIssuedPricePerShare_lbl" xml:lang="en-US" id="id_14036987_3536765_3_1">Preferred stock issued price per share.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PreferredStockIssuedPricePerShare_lbl" xml:lang="en-US" id="id_14036987_3536765_1_1">Preferred Stock Issued Price Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PreferredStockIssuedPricePerShare_lbl" xml:lang="en-US" id="id_14036987_3536765_2_1">Non-cumlative share issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PreferredStockIssuedPricePerShare" xlink:to="mfc_PreferredStockIssuedPricePerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PreferredStockLiquidationPreferenceValue1" xlink:label="mfc_PreferredStockLiquidationPreferenceValue1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PreferredStockLiquidationPreferenceValue1_lbl" xml:lang="en-US" id="id_14036987_3530255_3_1">Preferred stock liquidation preference value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PreferredStockLiquidationPreferenceValue1_lbl" xml:lang="en-US" id="id_14036987_3530255_1_1">Preferred stock liquidation Preference value 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PreferredStockLiquidationPreferenceValue1_lbl" xml:lang="en-US" id="id_14036987_3530255_2_1">Aggregate liquidation entitlement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PreferredStockLiquidationPreferenceValue1" xlink:to="mfc_PreferredStockLiquidationPreferenceValue1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PremiumsCededToReinsurers" xlink:label="mfc_PremiumsCededToReinsurers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PremiumsCededToReinsurers_lbl" xml:lang="en-US" id="id_14036987_3446392_3_1">Premiums ceded to reinsurers.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PremiumsCededToReinsurers_lbl" xml:lang="en-US" id="id_14036987_3446392_1_1">Premiums ceded to reinsurers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_PremiumsCededToReinsurers_lbl" xml:lang="en-US" id="id_14036987_3446392_14_1">Premiums ceded to reinsurers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PremiumsCededToReinsurers" xlink:to="mfc_PremiumsCededToReinsurers_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PresentValueOfDefinedBenefitObligationMember" xlink:label="ifrs-full_PresentValueOfDefinedBenefitObligationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PresentValueOfDefinedBenefitObligationMember_lbl" xml:lang="en-US" id="id_14036987_3422145_1_1">Present value of defined benefit obligation [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PresentValueOfDefinedBenefitObligationMember_lbl" xml:lang="en-US" id="id_14036987_3422145_2_1">Present value of defined benefit obligation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PresentValueOfDefinedBenefitObligationMember" xlink:to="ifrs-full_PresentValueOfDefinedBenefitObligationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PriceToEarningsMultiples" xlink:label="mfc_PriceToEarningsMultiples"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PriceToEarningsMultiples_lbl" xml:lang="en-US" id="id_14036987_3432778_3_1">Price to earnings multiples.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PriceToEarningsMultiples_lbl" xml:lang="en-US" id="id_14036987_3432778_1_1">Price To Earnings Multiples</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PriceToEarningsMultiples_lbl" xml:lang="en-US" id="id_14036987_3432778_2_1">Price-to-earnings multiples</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PriceToEarningsMultiples" xlink:to="mfc_PriceToEarningsMultiples_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PriorToDecemberThirtyOneTwoThousandNineteenMember" xlink:label="mfc_PriorToDecemberThirtyOneTwoThousandNineteenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PriorToDecemberThirtyOneTwoThousandNineteenMember_lbl" xml:lang="en-US" id="id_14036987_3479846_3_1">Prior to December thirty one two thousand nineteen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PriorToDecemberThirtyOneTwoThousandNineteenMember_lbl" xml:lang="en-US" id="id_14036987_3479846_1_1">Prior to december thirty one two thousand nineteen [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PriorToDecemberThirtyOneTwoThousandNineteenMember_lbl" xml:lang="en-US" id="id_14036987_3479846_2_1">Prior to December 31, 2019 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PriorToDecemberThirtyOneTwoThousandNineteenMember" xlink:to="mfc_PriorToDecemberThirtyOneTwoThousandNineteenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PrivateEquitiesAndOtherALDAMember" xlink:label="mfc_PrivateEquitiesAndOtherALDAMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PrivateEquitiesAndOtherALDAMember_lbl" xml:lang="en-US" id="id_14036987_3489495_3_1">Private equities and other ALDA.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PrivateEquitiesAndOtherALDAMember_lbl" xml:lang="en-US" id="id_14036987_3489495_1_1">Private equities and other ALDA [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PrivateEquitiesAndOtherALDAMember_lbl" xml:lang="en-US" id="id_14036987_3489495_2_1">Private equities and other ALDA [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PrivateEquitiesAndOtherALDAMember" xlink:to="mfc_PrivateEquitiesAndOtherALDAMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PrivateEquityInvestmentsMember" xlink:label="mfc_PrivateEquityInvestmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PrivateEquityInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479063_3_1">Private equity investments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PrivateEquityInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479063_1_1">Private equity investments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PrivateEquityInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479063_2_1">Private equity [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PrivateEquityInvestmentsMember" xlink:to="mfc_PrivateEquityInvestmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PrivatePlacements" xlink:label="mfc_PrivatePlacements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PrivatePlacements_lbl" xml:lang="en-US" id="id_14036987_3443750_3_1">Investment in private placements of other companies.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PrivatePlacements_lbl" xml:lang="en-US" id="id_14036987_3443750_1_1">Private Placements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PrivatePlacements_lbl" xml:lang="en-US" id="id_14036987_3443750_2_1">Private placements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PrivatePlacements" xlink:to="mfc_PrivatePlacements_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PrivatePlacementsMember" xlink:label="mfc_PrivatePlacementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PrivatePlacementsMember_lbl" xml:lang="en-US" id="id_14036987_3478997_3_1">Private placements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PrivatePlacementsMember_lbl" xml:lang="en-US" id="id_14036987_3478997_1_1">Private placements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PrivatePlacementsMember_lbl" xml:lang="en-US" id="id_14036987_3478997_2_1">Private placements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PrivatePlacementsMember" xlink:to="mfc_PrivatePlacementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3422616_1_1">Proceeds from contributions of non-controlling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3422616_2_1">Contributions from (distributions to) non-controlling interests, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests" xlink:to="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProceedsFromDisposalsAndRepayments" xlink:label="mfc_ProceedsFromDisposalsAndRepayments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProceedsFromDisposalsAndRepayments_lbl" xml:lang="en-US" id="id_14036987_3453730_3_1">Proceeds from disposals and repayments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProceedsFromDisposalsAndRepayments_lbl" xml:lang="en-US" id="id_14036987_3453730_1_1">Proceeds from Disposals and Repayments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProceedsFromDisposalsAndRepayments_lbl" xml:lang="en-US" id="id_14036987_3453730_2_1">Disposals and repayments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProceedsFromDisposalsAndRepayments" xlink:to="mfc_ProceedsFromDisposalsAndRepayments_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl" xml:lang="en-US" id="id_14036987_3422154_1_1">Proceeds from issue of bonds, notes and debentures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl" xml:lang="en-US" id="id_14036987_3422154_2_1">Issue of capital instruments, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl" xml:lang="en-US" id="id_14036987_3422154_12_1">Issue of capital instruments, net (note 11)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssueOfOrdinaryShares" xlink:label="ifrs-full_ProceedsFromIssueOfOrdinaryShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromIssueOfOrdinaryShares_lbl" xml:lang="en-US" id="id_14036987_3422155_1_1">Proceeds from issue of ordinary shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfOrdinaryShares_lbl" xml:lang="en-US" id="id_14036987_3422155_2_1">Common shares issued, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfOrdinaryShares_lbl" xml:lang="en-US" id="id_14036987_3422155_12_1">Common shares issued, net (note 12)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssueOfOrdinaryShares" xlink:to="ifrs-full_ProceedsFromIssueOfOrdinaryShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssueOfPreferenceShares" xlink:label="ifrs-full_ProceedsFromIssueOfPreferenceShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromIssueOfPreferenceShares_lbl" xml:lang="en-US" id="id_14036987_3422451_1_1">Proceeds from issue of preference shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfPreferenceShares_lbl" xml:lang="en-US" id="id_14036987_3422451_2_1">Preferred shares issued, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfPreferenceShares_lbl" xml:lang="en-US" id="id_14036987_3422451_12_1">Preferred shares issued, net (note 12)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssueOfPreferenceShares" xlink:to="ifrs-full_ProceedsFromIssueOfPreferenceShares_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProceedsFromIssueOfPreferenceSharesGross" xlink:label="mfc_ProceedsFromIssueOfPreferenceSharesGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProceedsFromIssueOfPreferenceSharesGross_lbl" xml:lang="en-US" id="id_14036987_3536991_3_1">Proceeds from Issue of Preference Shares Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProceedsFromIssueOfPreferenceSharesGross_lbl" xml:lang="en-US" id="id_14036987_3536991_1_1">Proceeds from Issue of Preference Shares Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProceedsFromIssueOfPreferenceSharesGross_lbl" xml:lang="en-US" id="id_14036987_3536991_2_1">Proceeds from issuance of preferred stock, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProceedsFromIssueOfPreferenceSharesGross" xlink:to="mfc_ProceedsFromIssueOfPreferenceSharesGross_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities" xlink:label="mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities_lbl" xml:lang="en-US" id="id_14036987_3446741_3_1">Proceeds from secured borrowing from securitization transactions classified as financing activities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities_lbl" xml:lang="en-US" id="id_14036987_3446741_1_1">Proceeds from secured borrowing from securitization transactions classified as financing activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities_lbl" xml:lang="en-US" id="id_14036987_3446741_2_1">Secured borrowing from securitization transactions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities_lbl" xml:lang="en-US" id="id_14036987_3446741_12_1">Secured borrowings from securitization transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities" xlink:to="mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProductDesignAndPricingRiskManagementStrategy" xlink:label="mfc_ProductDesignAndPricingRiskManagementStrategy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProductDesignAndPricingRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514664_3_1">Percentage of product design and pricing risk management strategy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProductDesignAndPricingRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514664_1_1">Product Design and Pricing Risk Management Strategy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProductDesignAndPricingRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3514664_2_1">Product design and pricing</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProductDesignAndPricingRiskManagementStrategy" xlink:to="mfc_ProductDesignAndPricingRiskManagementStrategy_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProductsAndServicesAxis" xlink:label="ifrs-full_ProductsAndServicesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProductsAndServicesAxis_lbl" xml:lang="en-US" id="id_14036987_3422620_1_1">Products and services [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProductsAndServicesAxis_lbl" xml:lang="en-US" id="id_14036987_3422620_2_1">Products and services [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ifrs-full_ProductsAndServicesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProductsAndServicesMember" xlink:label="ifrs-full_ProductsAndServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProductsAndServicesMember_lbl" xml:lang="en-US" id="id_14036987_3423108_1_1">Products and services [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProductsAndServicesMember_lbl" xml:lang="en-US" id="id_14036987_3423108_2_1">Products and services [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesMember" xlink:to="ifrs-full_ProductsAndServicesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProductsWhereADecreaseInRatesIncreasesInsuranceContractLiabilitiesMember" xlink:label="mfc_ProductsWhereADecreaseInRatesIncreasesInsuranceContractLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProductsWhereADecreaseInRatesIncreasesInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479856_3_1">This member stands for products where a decrease in rates increases insurance contract liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProductsWhereADecreaseInRatesIncreasesInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479856_1_1">Products where a decrease in rates increases insurance contract liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProductsWhereADecreaseInRatesIncreasesInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479856_2_1">Products where a decrease in rates increases insurance contract liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProductsWhereADecreaseInRatesIncreasesInsuranceContractLiabilitiesMember" xlink:to="mfc_ProductsWhereADecreaseInRatesIncreasesInsuranceContractLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProductsWhereAnIncreaseInRatesIncreasesInsuranceContractLiabilitiesMember" xlink:label="mfc_ProductsWhereAnIncreaseInRatesIncreasesInsuranceContractLiabilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProductsWhereAnIncreaseInRatesIncreasesInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479860_3_1">This member stands for products where an increase in rates increases insurance contract liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProductsWhereAnIncreaseInRatesIncreasesInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479860_1_1">Products where an increase in rates increases insurance contract liabilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProductsWhereAnIncreaseInRatesIncreasesInsuranceContractLiabilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479860_2_1">Products where an increase in rates increases insurance contract liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProductsWhereAnIncreaseInRatesIncreasesInsuranceContractLiabilitiesMember" xlink:to="mfc_ProductsWhereAnIncreaseInRatesIncreasesInsuranceContractLiabilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US" id="id_14036987_3423110_1_1">Profit (loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US" id="id_14036987_3423110_32_1">Net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US" id="id_14036987_3423110_2_1">Net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US" id="id_14036987_3423110_6_1">Net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US" id="id_14036987_3423110_12_1">Net income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProfitLossAfterTaxBeforeEquityInNetIncomeLossOfUnconsolidatedSubsidiaries" xlink:label="mfc_ProfitLossAfterTaxBeforeEquityInNetIncomeLossOfUnconsolidatedSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProfitLossAfterTaxBeforeEquityInNetIncomeLossOfUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3453733_3_1">Profit (loss) after tax before equity in net income (loss) of unconsolidated subsidiaries.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProfitLossAfterTaxBeforeEquityInNetIncomeLossOfUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3453733_1_1">Profit Loss After Tax Before Equity in Net Income Loss of Unconsolidated Subsidiaries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_ProfitLossAfterTaxBeforeEquityInNetIncomeLossOfUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3453733_6_1">Income (loss) after income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProfitLossAfterTaxBeforeEquityInNetIncomeLossOfUnconsolidatedSubsidiaries" xlink:to="mfc_ProfitLossAfterTaxBeforeEquityInNetIncomeLossOfUnconsolidatedSubsidiaries_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossAttributableToAbstract" xlink:label="ifrs-full_ProfitLossAttributableToAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToAbstract_lbl" xml:lang="en-US" id="id_14036987_3423112_1_1">Profit (loss), attributable to [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToAbstract_lbl" xml:lang="en-US" id="id_14036987_3423112_2_1">Net income (loss) attributed to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProfitLossAttributableToCommonShareholders" xlink:label="mfc_ProfitLossAttributableToCommonShareholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProfitLossAttributableToCommonShareholders_lbl" xml:lang="en-US" id="id_14036987_3444489_3_1">Profit loss attributable to common shareholders.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProfitLossAttributableToCommonShareholders_lbl" xml:lang="en-US" id="id_14036987_3444489_1_1">Profit Loss Attributable to Common Shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mfc_ProfitLossAttributableToCommonShareholders_lbl" xml:lang="en-US" id="id_14036987_3444489_6_1">Common shareholders' net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProfitLossAttributableToCommonShareholders" xlink:to="mfc_ProfitLossAttributableToCommonShareholders_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3423113_1_1">Profit (loss), attributable to non-controlling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3423113_2_1">Net income attributed to non-controlling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US" id="id_14036987_3423113_12_1">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en-US" id="id_14036987_3421790_1_1">Profit (loss), attributable to owners of parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en-US" id="id_14036987_3421790_32_1">Shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en-US" id="id_14036987_3421790_2_1">Net income (loss) attributed to shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en-US" id="id_14036987_3421790_12_1">Net income attributed to shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProfitLossAttributableToParticipatingPolicyholders" xlink:label="mfc_ProfitLossAttributableToParticipatingPolicyholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProfitLossAttributableToParticipatingPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443837_3_1">Profit loss attributable to participating policyholders.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProfitLossAttributableToParticipatingPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443837_1_1">Profit Loss Attributable to Participating Policyholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProfitLossAttributableToParticipatingPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443837_2_1">Net income (loss) attributed to participating policyholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_ProfitLossAttributableToParticipatingPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443837_12_1">Participating policyholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProfitLossAttributableToParticipatingPolicyholders" xlink:to="mfc_ProfitLossAttributableToParticipatingPolicyholders_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProfitLossAttributableToPreferredShareDividends" xlink:label="mfc_ProfitLossAttributableToPreferredShareDividends"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProfitLossAttributableToPreferredShareDividends_lbl" xml:lang="en-US" id="id_14036987_3443838_3_1">Profit loss attributable to preferred share dividends.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProfitLossAttributableToPreferredShareDividends_lbl" xml:lang="en-US" id="id_14036987_3443838_1_1">Profit Loss Attributable to Preferred Share Dividends</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProfitLossAttributableToPreferredShareDividends_lbl" xml:lang="en-US" id="id_14036987_3443838_2_1">Preferred share dividends</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProfitLossAttributableToPreferredShareDividends" xlink:to="mfc_ProfitLossAttributableToPreferredShareDividends_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US" id="id_14036987_3422161_1_1">Profit (loss) before tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US" id="id_14036987_3422161_2_1">Income (loss) before income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US" id="id_14036987_3422161_6_1">Income before income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US" id="id_14036987_3422161_12_1">Income before income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US" id="id_14036987_3423123_1_1">Property, plant and equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US" id="id_14036987_3423123_2_1">Accumulated depreciation of own use property</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PropertyPlantAndEquipmentEstimatedUsefulLife" xlink:label="mfc_PropertyPlantAndEquipmentEstimatedUsefulLife"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PropertyPlantAndEquipmentEstimatedUsefulLife_lbl" xml:lang="en-US" id="id_14036987_3472496_3_1">Property plant and equipment estimated useful life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PropertyPlantAndEquipmentEstimatedUsefulLife_lbl" xml:lang="en-US" id="id_14036987_3472496_1_1">Property Plant and Equipment Estimated Useful Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PropertyPlantAndEquipmentEstimatedUsefulLife_lbl" xml:lang="en-US" id="id_14036987_3472496_2_1">Estimated useful life of property</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PropertyPlantAndEquipmentEstimatedUsefulLife" xlink:to="mfc_PropertyPlantAndEquipmentEstimatedUsefulLife_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xml:lang="en-US" id="id_14036987_3422176_1_1">Proportion of ownership interest in associate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xml:lang="en-US" id="id_14036987_3422176_2_1">Partnership voting rights</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xml:lang="en-US" id="id_14036987_3422633_1_1">Proportion of ownership interest in subsidiary</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xml:lang="en-US" id="id_14036987_3422633_2_1">Percentage of ownership interest in subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProportionOfVotingPowerHeldInSubsidiary" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary_lbl" xml:lang="en-US" id="id_14036987_3423137_1_1">Proportion of voting rights held in subsidiary</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary_lbl" xml:lang="en-US" id="id_14036987_3423137_2_1">Percentage of voting rights held in subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary" xlink:to="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax" xlink:label="mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax_lbl" xml:lang="en-US" id="id_14036987_3447214_3_1">Provisional charge for estimated impact of tax reform after tax.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax_lbl" xml:lang="en-US" id="id_14036987_3447214_1_1">Provisional charge for estimated impact of tax reform after tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax_lbl" xml:lang="en-US" id="id_14036987_3447214_2_1">Provisional charge for the estimated impact of U.S. Tax Reform, after-tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax" xlink:to="mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProvisionNet" xlink:label="mfc_ProvisionNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProvisionNet_lbl" xml:lang="en-US" id="id_14036987_3453001_3_1">Provision net.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProvisionNet_lbl" xml:lang="en-US" id="id_14036987_3453001_1_1">Provision net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProvisionNet_lbl" xml:lang="en-US" id="id_14036987_3453001_2_1">Provision, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProvisionNet" xlink:to="mfc_ProvisionNet_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ProvisionsAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="mfc_ProvisionsAllowanceAccountForCreditLossesOfFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ProvisionsAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3446708_3_1">Provisions, allowance account for credit losses of financial assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ProvisionsAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3446708_1_1">Provisions, allowance account for credit losses of financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ProvisionsAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3446708_2_1">Provisions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ProvisionsAllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="mfc_ProvisionsAllowanceAccountForCreditLossesOfFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PtAsuransiJiwaManulifeIndonesiaMember" xlink:label="mfc_PtAsuransiJiwaManulifeIndonesiaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PtAsuransiJiwaManulifeIndonesiaMember_lbl" xml:lang="en-US" id="id_14036987_3479819_3_1">PT Asuransi Jiwa Manulife Indonesia.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PtAsuransiJiwaManulifeIndonesiaMember_lbl" xml:lang="en-US" id="id_14036987_3479819_1_1">PT Asuransi Jiwa Manulife Indonesia [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PtAsuransiJiwaManulifeIndonesiaMember_lbl" xml:lang="en-US" id="id_14036987_3479819_2_1">PT Asuransi Jiwa Manulife Indonesia [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PtAsuransiJiwaManulifeIndonesiaMember" xlink:to="mfc_PtAsuransiJiwaManulifeIndonesiaMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PtManulifeAsetManajemenIndonesiaMember" xlink:label="mfc_PtManulifeAsetManajemenIndonesiaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PtManulifeAsetManajemenIndonesiaMember_lbl" xml:lang="en-US" id="id_14036987_3479821_3_1">PT Manulife Aset Manajemen Indonesia.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PtManulifeAsetManajemenIndonesiaMember_lbl" xml:lang="en-US" id="id_14036987_3479821_1_1">PT Manulife Aset Manajemen Indonesia [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PtManulifeAsetManajemenIndonesiaMember_lbl" xml:lang="en-US" id="id_14036987_3479821_2_1">PT Manulife Aset Manajemen Indonesia [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PtManulifeAsetManajemenIndonesiaMember" xlink:to="mfc_PtManulifeAsetManajemenIndonesiaMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PublicEquitiesMember" xlink:label="mfc_PublicEquitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PublicEquitiesMember_lbl" xml:lang="en-US" id="id_14036987_3478996_3_1">Public equities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PublicEquitiesMember_lbl" xml:lang="en-US" id="id_14036987_3478996_1_1">Public equities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PublicEquitiesMember_lbl" xml:lang="en-US" id="id_14036987_3478996_2_1">Public equities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PublicEquitiesMember" xlink:to="mfc_PublicEquitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PubliclyTradedEquityPerformanceRiskMember" xlink:label="mfc_PubliclyTradedEquityPerformanceRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PubliclyTradedEquityPerformanceRiskMember_lbl" xml:lang="en-US" id="id_14036987_3489468_3_1">Publicly traded equity performance risk.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PubliclyTradedEquityPerformanceRiskMember_lbl" xml:lang="en-US" id="id_14036987_3489468_1_1">Publicly Traded Equity Performance Risk [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_PubliclyTradedEquityPerformanceRiskMember_lbl" xml:lang="en-US" id="id_14036987_3489468_2_1">Publicly Traded Equity Performance Risk [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PubliclyTradedEquityPerformanceRiskMember" xlink:to="mfc_PubliclyTradedEquityPerformanceRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PurchasesAndMortgageAdvances" xlink:label="mfc_PurchasesAndMortgageAdvances"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PurchasesAndMortgageAdvances_lbl" xml:lang="en-US" id="id_14036987_3443879_3_1">Purchases and mortgage advances.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PurchasesAndMortgageAdvances_lbl" xml:lang="en-US" id="id_14036987_3443879_1_1">Purchases and Mortgage Advances</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_PurchasesAndMortgageAdvances_lbl" xml:lang="en-US" id="id_14036987_3443879_14_1">Purchases and mortgage advances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PurchasesAndMortgageAdvances" xlink:to="mfc_PurchasesAndMortgageAdvances_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchasesFairValueMeasurementAssets" xlink:label="ifrs-full_PurchasesFairValueMeasurementAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchasesFairValueMeasurementAssets_lbl" xml:lang="en-US" id="id_14036987_3422691_1_1">Purchases, fair value measurement, assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PurchasesFairValueMeasurementAssets_lbl" xml:lang="en-US" id="id_14036987_3422691_2_1">Purchases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchasesFairValueMeasurementAssets" xlink:to="ifrs-full_PurchasesFairValueMeasurementAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_PurchasesOfMultipleSignificantUnobservableInputsOnDerivativeInstruments" xlink:label="mfc_PurchasesOfMultipleSignificantUnobservableInputsOnDerivativeInstruments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_PurchasesOfMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl" xml:lang="en-US" id="id_14036987_3446719_3_1">Purchases of multiple significant unobservable inputs on derivative instruments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_PurchasesOfMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl" xml:lang="en-US" id="id_14036987_3446719_1_1">Purchases of multiple significant unobservable inputs on derivative instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_PurchasesOfMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl" xml:lang="en-US" id="id_14036987_3446719_14_1">Purchases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_PurchasesOfMultipleSignificantUnobservableInputsOnDerivativeInstruments" xlink:to="mfc_PurchasesOfMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangeAxis_lbl" xml:lang="en-US" id="id_14036987_3422662_1_1">Range [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RangeAxis_lbl" xml:lang="en-US" id="id_14036987_3422662_2_1">Range [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangesMember_lbl" xml:lang="en-US" id="id_14036987_3422700_1_1">Ranges [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RangesMember_lbl" xml:lang="en-US" id="id_14036987_3422700_2_1">Ranges [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_RangesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis" xlink:label="ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis_lbl" xml:lang="en-US" id="id_14036987_3422192_1_1">Ranges of exercise prices for outstanding share options [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis_lbl" xml:lang="en-US" id="id_14036987_3422192_2_1">Ranges of exercise prices for outstanding share options [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis" xlink:to="ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsMember" xlink:label="ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsMember_lbl" xml:lang="en-US" id="id_14036987_3422193_1_1">Ranges of exercise prices for outstanding share options [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsMember_lbl" xml:lang="en-US" id="id_14036987_3422193_2_1">11.08-20.99 [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsMember" xlink:to="ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RatedCreditExposures" xlink:label="ifrs-full_RatedCreditExposures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RatedCreditExposures_lbl" xml:lang="en-US" id="id_14036987_3422701_1_1">Rated credit exposures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RatedCreditExposures_lbl" xml:lang="en-US" id="id_14036987_3422701_2_1">Credit quality and carrying value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RatedCreditExposures" xlink:to="ifrs-full_RatedCreditExposures_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RealEstate1Member" xlink:label="mfc_RealEstate1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RealEstate1Member_lbl" xml:lang="en-US" id="id_14036987_3478999_3_1">Real estate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RealEstate1Member_lbl" xml:lang="en-US" id="id_14036987_3478999_1_1">Real estate 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RealEstate1Member_lbl" xml:lang="en-US" id="id_14036987_3478999_2_1">Real estate [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RealEstate1Member" xlink:to="mfc_RealEstate1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RealEstateAgricultureAndTimberAssetsMember" xlink:label="mfc_RealEstateAgricultureAndTimberAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RealEstateAgricultureAndTimberAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3489494_3_1">Real estate, agriculture and timber assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RealEstateAgricultureAndTimberAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3489494_1_1">Real estate, agriculture and timber assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RealEstateAgricultureAndTimberAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3489494_2_1">Real estate, agriculture and timber assets [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RealEstateAgricultureAndTimberAssetsMember" xlink:to="mfc_RealEstateAgricultureAndTimberAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RealEstateAndOtherMember" xlink:label="mfc_RealEstateAndOtherMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RealEstateAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3480186_3_1">Real estate and other [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RealEstateAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3480186_1_1">Real estate and other [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RealEstateAndOtherMember_lbl" xml:lang="en-US" id="id_14036987_3480186_2_1">Real estate and other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RealEstateAndOtherMember" xlink:to="mfc_RealEstateAndOtherMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RealEstateCompaniesMember" xlink:label="mfc_RealEstateCompaniesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RealEstateCompaniesMember_lbl" xml:lang="en-US" id="id_14036987_3480157_3_1">Real estate companies.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RealEstateCompaniesMember_lbl" xml:lang="en-US" id="id_14036987_3480157_1_1">Real Estate companies [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RealEstateCompaniesMember_lbl" xml:lang="en-US" id="id_14036987_3480157_2_1">Real estate companies [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RealEstateCompaniesMember" xlink:to="mfc_RealEstateCompaniesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RealEstateManagementServicesMember" xlink:label="mfc_RealEstateManagementServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RealEstateManagementServicesMember_lbl" xml:lang="en-US" id="id_14036987_3536736_3_1">Real estate management services.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RealEstateManagementServicesMember_lbl" xml:lang="en-US" id="id_14036987_3536736_1_1">Real estate management services [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RealEstateManagementServicesMember_lbl" xml:lang="en-US" id="id_14036987_3536736_2_1">Real estate management services [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RealEstateManagementServicesMember" xlink:to="mfc_RealEstateManagementServicesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RealEstateOwnUsePropertyMember" xlink:label="mfc_RealEstateOwnUsePropertyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RealEstateOwnUsePropertyMember_lbl" xml:lang="en-US" id="id_14036987_3480132_3_1">Real estate own use property [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RealEstateOwnUsePropertyMember_lbl" xml:lang="en-US" id="id_14036987_3480132_1_1">Real estate own use property [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RealEstateOwnUsePropertyMember_lbl" xml:lang="en-US" id="id_14036987_3480132_2_1">Real estate own use property [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RealEstateOwnUsePropertyMember" xlink:to="mfc_RealEstateOwnUsePropertyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RealizedAndUnrealizedGainsLossesOnAssetsSupportingInsuranceAndInvestmentContractLiabilitiesAndOnMacroHedgeProgram" xlink:label="mfc_RealizedAndUnrealizedGainsLossesOnAssetsSupportingInsuranceAndInvestmentContractLiabilitiesAndOnMacroHedgeProgram"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RealizedAndUnrealizedGainsLossesOnAssetsSupportingInsuranceAndInvestmentContractLiabilitiesAndOnMacroHedgeProgram_lbl" xml:lang="en-US" id="id_14036987_3453713_3_1">Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on the macro hedge program.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RealizedAndUnrealizedGainsLossesOnAssetsSupportingInsuranceAndInvestmentContractLiabilitiesAndOnMacroHedgeProgram_lbl" xml:lang="en-US" id="id_14036987_3453713_1_1">Realized and Unrealized Gains (Losses) on Assets Supporting Insurance and Investment Contract Liabilities and on Macro Hedge Program</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RealizedAndUnrealizedGainsLossesOnAssetsSupportingInsuranceAndInvestmentContractLiabilitiesAndOnMacroHedgeProgram_lbl" xml:lang="en-US" id="id_14036987_3453713_2_1">Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on the macro hedge program</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RealizedAndUnrealizedGainsLossesOnAssetsSupportingInsuranceAndInvestmentContractLiabilitiesAndOnMacroHedgeProgram" xlink:to="mfc_RealizedAndUnrealizedGainsLossesOnAssetsSupportingInsuranceAndInvestmentContractLiabilitiesAndOnMacroHedgeProgram_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xlink:label="ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3423166_1_1">Reclassification adjustments on available-for-sale financial assets, net of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3423166_14_1">Reclassification of net realized (gains) losses and impairments to net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xlink:to="ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" xlink:label="ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3422206_1_1">Reclassification adjustments on cash flow hedges, net of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3422206_14_1">Reclassification of realized losses to net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" xlink:to="ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RecognisedAssetsDefinedBenefitPlan" xlink:label="ifrs-full_RecognisedAssetsDefinedBenefitPlan"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RecognisedAssetsDefinedBenefitPlan_lbl" xml:lang="en-US" id="id_14036987_3423559_1_1">Net defined benefit asset</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RecognisedAssetsDefinedBenefitPlan_lbl" xml:lang="en-US" id="id_14036987_3423559_2_1">Assets set aside for plan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RecognisedAssetsDefinedBenefitPlan" xlink:to="ifrs-full_RecognisedAssetsDefinedBenefitPlan_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" xlink:label="ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract_lbl" xml:lang="en-US" id="id_14036987_3422228_1_1">Reconciliation of accounting profit multiplied by applicable tax rates [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract_lbl" xml:lang="en-US" id="id_14036987_3422228_2_1">Reconciliation of accounting profit multiplied by applicable tax rates [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" xlink:to="ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems" xlink:label="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems_lbl" xml:lang="en-US" id="id_14036987_3426599_3_1">Reconciliation of changes in deferred tax liability (asset) [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems_lbl" xml:lang="en-US" id="id_14036987_3426599_1_1">Reconciliation of changes in deferred tax liability (asset) [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems_lbl" xml:lang="en-US" id="id_14036987_3426599_2_1">Reconciliation of changes in deferred tax liability (asset) [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems" xlink:to="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetTable" xlink:label="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl" xml:lang="en-US" id="id_14036987_3529025_3_1">Reconciliation of changes in deferred tax liability (asset) [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl" xml:lang="en-US" id="id_14036987_3529025_1_1">Reconciliation of changes in deferred tax liability (asset) [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl" xml:lang="en-US" id="id_14036987_3529025_2_1">Reconciliation of changes in deferred tax liability (asset) [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetTable" xlink:to="mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReconciliationOfChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract" xlink:label="ifrs-full_ReconciliationOfChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReconciliationOfChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract_lbl" xml:lang="en-US" id="id_14036987_3422735_1_1">Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReconciliationOfChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract_lbl" xml:lang="en-US" id="id_14036987_3422735_2_1">Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReconciliationOfChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract" xlink:to="ifrs-full_ReconciliationOfChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RedesignatedMember" xlink:label="ifrs-full_RedesignatedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RedesignatedMember_lbl" xml:lang="en-US" id="id_14036987_3422742_1_1">Redesignated [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RedesignatedMember_lbl" xml:lang="en-US" id="id_14036987_3422742_2_1">Redesignated [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RedesignatedMember" xlink:to="ifrs-full_RedesignatedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RedesignationAxis" xlink:label="ifrs-full_RedesignationAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RedesignationAxis_lbl" xml:lang="en-US" id="id_14036987_3422743_1_1">Redesignation [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RedesignationAxis_lbl" xml:lang="en-US" id="id_14036987_3422743_2_1">Redesignation [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RedesignationAxis" xlink:to="ifrs-full_RedesignationAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RefinementsToLiabilityAndTaxCashFlowsMember" xlink:label="mfc_RefinementsToLiabilityAndTaxCashFlowsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RefinementsToLiabilityAndTaxCashFlowsMember_lbl" xml:lang="en-US" id="id_14036987_3494900_3_1">Refinements To Liability and Tax Cash Flows [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RefinementsToLiabilityAndTaxCashFlowsMember_lbl" xml:lang="en-US" id="id_14036987_3494900_1_1">Refinements To Liability and Tax Cash Flows [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RefinementsToLiabilityAndTaxCashFlowsMember_lbl" xml:lang="en-US" id="id_14036987_3494900_2_1">Refinements To Liability and Tax Cash Flows [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RefinementsToLiabilityAndTaxCashFlowsMember" xlink:to="mfc_RefinementsToLiabilityAndTaxCashFlowsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RegionalPowerIncMember" xlink:label="mfc_RegionalPowerIncMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RegionalPowerIncMember_lbl" xml:lang="en-US" id="id_14036987_3479844_3_1">Regional Power Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RegionalPowerIncMember_lbl" xml:lang="en-US" id="id_14036987_3479844_1_1">Regional Power Inc [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RegionalPowerIncMember_lbl" xml:lang="en-US" id="id_14036987_3479844_2_1">Regional Power Inc. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RegionalPowerIncMember" xlink:to="mfc_RegionalPowerIncMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RegulatoryRequirementsMember" xlink:label="mfc_RegulatoryRequirementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RegulatoryRequirementsMember_lbl" xml:lang="en-US" id="id_14036987_3480217_3_1">Regulatory requirements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RegulatoryRequirementsMember_lbl" xml:lang="en-US" id="id_14036987_3480217_1_1">Regulatory Requirements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RegulatoryRequirementsMember_lbl" xml:lang="en-US" id="id_14036987_3480217_2_1">Regulatory requirements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RegulatoryRequirementsMember" xlink:to="mfc_RegulatoryRequirementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReinsuranceAssets" xlink:label="ifrs-full_ReinsuranceAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3422888_1_1">Reinsurance assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3422888_2_1">Reinsurance assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ReinsuranceAssets_lbl" xml:lang="en-US" id="id_14036987_3422888_12_1">Reinsurance assets (notes 7 and 8)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReinsuranceAssets" xlink:to="ifrs-full_ReinsuranceAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ReinsuranceAssetsMember" xlink:label="mfc_ReinsuranceAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ReinsuranceAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479743_3_1">Reinsurance assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ReinsuranceAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479743_1_1">Reinsurance assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ReinsuranceAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479743_2_1">Reinsurance assets [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ReinsuranceAssetsMember" xlink:to="mfc_ReinsuranceAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReinsuranceContractsHeldThatAreLiabilities" xlink:label="ifrs-full_ReinsuranceContractsHeldThatAreLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReinsuranceContractsHeldThatAreLiabilities_lbl" xml:lang="en-US" id="id_14036987_3423573_1_1">Reinsurance contracts held that are liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReinsuranceContractsHeldThatAreLiabilities_lbl" xml:lang="en-US" id="id_14036987_3423573_2_1">Investment contract liabilities reinsured</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ReinsuranceContractsHeldThatAreLiabilities_lbl" xml:lang="en-US" id="id_14036987_3423573_12_1">Reinsurance assets for investment contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReinsuranceContractsHeldThatAreLiabilities" xlink:to="ifrs-full_ReinsuranceContractsHeldThatAreLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ReinsuredAmountAtRisk" xlink:label="mfc_ReinsuredAmountAtRisk"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ReinsuredAmountAtRisk_lbl" xml:lang="en-US" id="id_14036987_3458500_3_1">Reinsured amount at risk.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ReinsuredAmountAtRisk_lbl" xml:lang="en-US" id="id_14036987_3458500_1_1">Reinsured Amount At Risk</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ReinsuredAmountAtRisk_lbl" xml:lang="en-US" id="id_14036987_3458500_2_1">Total reinsured, Amount at risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ReinsuredAmountAtRisk" xlink:to="mfc_ReinsuredAmountAtRisk_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ReinsuredFundValue" xlink:label="mfc_ReinsuredFundValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ReinsuredFundValue_lbl" xml:lang="en-US" id="id_14036987_3458504_3_1">Reinsured fund value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ReinsuredFundValue_lbl" xml:lang="en-US" id="id_14036987_3458504_1_1">Reinsured Fund value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ReinsuredFundValue_lbl" xml:lang="en-US" id="id_14036987_3458504_2_1">Total reinsured, Fund value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ReinsuredFundValue" xlink:to="mfc_ReinsuredFundValue_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ReinsuredGuaranteeValue" xlink:label="mfc_ReinsuredGuaranteeValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ReinsuredGuaranteeValue_lbl" xml:lang="en-US" id="id_14036987_3458499_3_1">Reinsured guarantee value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ReinsuredGuaranteeValue_lbl" xml:lang="en-US" id="id_14036987_3458499_1_1">Reinsured Guarantee Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ReinsuredGuaranteeValue_lbl" xml:lang="en-US" id="id_14036987_3458499_2_1">Total reinsured, Guarantee value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ReinsuredGuaranteeValue" xlink:to="mfc_ReinsuredGuaranteeValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReinsurersShareOfAmountArisingFromInsuranceContractsMember" xlink:label="ifrs-full_ReinsurersShareOfAmountArisingFromInsuranceContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReinsurersShareOfAmountArisingFromInsuranceContractsMember_lbl" xml:lang="en-US" id="id_14036987_3422890_1_1">Reinsurer's share of amount arising from insurance contracts [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReinsurersShareOfAmountArisingFromInsuranceContractsMember_lbl" xml:lang="en-US" id="id_14036987_3422890_2_1">Reinsurance assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReinsurersShareOfAmountArisingFromInsuranceContractsMember" xlink:to="ifrs-full_ReinsurersShareOfAmountArisingFromInsuranceContractsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RentalIncomeFromInvestmentProperty" xlink:label="ifrs-full_RentalIncomeFromInvestmentProperty"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RentalIncomeFromInvestmentProperty_lbl" xml:lang="en-US" id="id_14036987_3423195_1_1">Rental income from investment property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RentalIncomeFromInvestmentProperty_lbl" xml:lang="en-US" id="id_14036987_3423195_2_1">Rental income from investment properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_RentalIncomeFromInvestmentProperty_lbl" xml:lang="en-US" id="id_14036987_3423195_12_1">Rental income, net of depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RentalIncomeFromInvestmentProperty" xlink:to="ifrs-full_RentalIncomeFromInvestmentProperty_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense" xlink:label="ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense_lbl" xml:lang="en-US" id="id_14036987_3422755_1_1">Rental income from investment property, net of direct operating expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense_lbl" xml:lang="en-US" id="id_14036987_3422755_6_1">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense" xlink:to="ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xml:lang="en-US" id="id_14036987_3423577_1_1">Repayments of bonds, notes and debentures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xml:lang="en-US" id="id_14036987_3423577_14_1">Redemption of capital instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xml:lang="en-US" id="id_14036987_3423577_18_1">Redemption of capital instruments (note 11)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:to="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl" xml:lang="en-US" id="id_14036987_3422894_1_1">Repayments of non-current borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl" xml:lang="en-US" id="id_14036987_3422894_14_1">Redemption of long-term debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl" xml:lang="en-US" id="id_14036987_3422894_18_1">Redemption of long-term debt (note 10)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:to="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RepurchaseAgreements1Member" xlink:label="mfc_RepurchaseAgreements1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RepurchaseAgreements1Member_lbl" xml:lang="en-US" id="id_14036987_3479952_3_1">Repurchase agreements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RepurchaseAgreements1Member_lbl" xml:lang="en-US" id="id_14036987_3479952_1_1">Repurchase agreements 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RepurchaseAgreements1Member_lbl" xml:lang="en-US" id="id_14036987_3479952_2_1">Repurchase agreements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RepurchaseAgreements1Member" xlink:to="mfc_RepurchaseAgreements1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepurchaseAgreementsAndCashCollateralOnSecuritiesLent" xlink:label="ifrs-full_RepurchaseAgreementsAndCashCollateralOnSecuritiesLent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RepurchaseAgreementsAndCashCollateralOnSecuritiesLent_lbl" xml:lang="en-US" id="id_14036987_3423581_1_1">Repurchase agreements and cash collateral on securities lent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RepurchaseAgreementsAndCashCollateralOnSecuritiesLent_lbl" xml:lang="en-US" id="id_14036987_3423581_2_1">Repurchase transactions recorded as payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepurchaseAgreementsAndCashCollateralOnSecuritiesLent" xlink:to="ifrs-full_RepurchaseAgreementsAndCashCollateralOnSecuritiesLent_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RepurchaseOfCommonShares" xlink:label="mfc_RepurchaseOfCommonShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RepurchaseOfCommonShares_lbl" xml:lang="en-US" id="id_14036987_3468648_3_1">Repurchase of common shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RepurchaseOfCommonShares_lbl" xml:lang="en-US" id="id_14036987_3468648_1_1">Repurchase of Common Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RepurchaseOfCommonShares_lbl" xml:lang="en-US" id="id_14036987_3468648_2_1">Common shares repurchased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RepurchaseOfCommonShares" xlink:to="mfc_RepurchaseOfCommonShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfCashFlowHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReserveOfCashFlowHedges_lbl" xml:lang="en-US" id="id_14036987_3423202_1_1">Reserve of cash flow hedges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReserveOfCashFlowHedges_lbl" xml:lang="en-US" id="id_14036987_3423202_2_1">Cash flow hedges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfCashFlowHedges" xlink:to="ifrs-full_ReserveOfCashFlowHedges_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_lbl" xml:lang="en-US" id="id_14036987_3423589_1_1">Reserve of exchange differences on translation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_lbl" xml:lang="en-US" id="id_14036987_3423589_2_1">Translation of foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:to="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets" xlink:label="ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3423212_1_1">Reserve of gains and losses on remeasuring available-for-sale financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3423212_2_1">Available-for-sale securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets" xlink:to="ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3423598_1_1">Reserve of remeasurements of defined benefit plans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlans_lbl" xml:lang="en-US" id="id_14036987_3423598_2_1">Pension and other post-employment plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlans_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ResidentialMortgageAssetbackedSecuritiesMember" xlink:label="mfc_ResidentialMortgageAssetbackedSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ResidentialMortgageAssetbackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480136_3_1">Residential mortgage asset-backed securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ResidentialMortgageAssetbackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480136_1_1">Residential mortgage asset-backed securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ResidentialMortgageAssetbackedSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480136_2_1">Residential mortgage asset-backed securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ResidentialMortgageAssetbackedSecuritiesMember" xlink:to="mfc_ResidentialMortgageAssetbackedSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ResidentialMortgageBackedSecurities1Member" xlink:label="mfc_ResidentialMortgageBackedSecurities1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ResidentialMortgageBackedSecurities1Member_lbl" xml:lang="en-US" id="id_14036987_3477318_3_1">Residential mortgage backed securities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ResidentialMortgageBackedSecurities1Member_lbl" xml:lang="en-US" id="id_14036987_3477318_1_1">Residential Mortgage Backed Securities 1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ResidentialMortgageBackedSecurities1Member_lbl" xml:lang="en-US" id="id_14036987_3477318_2_1">RMBS [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ResidentialMortgageBackedSecurities1Member" xlink:to="mfc_ResidentialMortgageBackedSecurities1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ResidentialMortgagesAndLoansToBankClientsMember" xlink:label="mfc_ResidentialMortgagesAndLoansToBankClientsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ResidentialMortgagesAndLoansToBankClientsMember_lbl" xml:lang="en-US" id="id_14036987_3489240_3_1">Residential mortgages and loans to bank clients.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ResidentialMortgagesAndLoansToBankClientsMember_lbl" xml:lang="en-US" id="id_14036987_3489240_1_1">Residential Mortgages And Loans To Bank Clients [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ResidentialMortgagesAndLoansToBankClientsMember_lbl" xml:lang="en-US" id="id_14036987_3489240_2_1">Residential mortgages and loans to bank clients [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ResidentialMortgagesAndLoansToBankClientsMember" xlink:to="mfc_ResidentialMortgagesAndLoansToBankClientsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ResidentialMortgagesMember" xlink:label="mfc_ResidentialMortgagesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ResidentialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479709_3_1">Residential mortgages.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ResidentialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479709_1_1">Residential mortgages [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ResidentialMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3479709_2_1">Residential mortgages [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ResidentialMortgagesMember" xlink:to="mfc_ResidentialMortgagesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RestrictedCashAndShorttermSecuritiesMember" xlink:label="mfc_RestrictedCashAndShorttermSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RestrictedCashAndShorttermSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480104_3_1">Restricted cash and short-term securities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RestrictedCashAndShorttermSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480104_1_1">Restricted cash and short-term securities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RestrictedCashAndShorttermSecuritiesMember_lbl" xml:lang="en-US" id="id_14036987_3480104_2_1">Restricted cash and short-term securities [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RestrictedCashAndShorttermSecuritiesMember" xlink:to="mfc_RestrictedCashAndShorttermSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RestrictedShareUnitsAndPerformanceShareUnitsMember" xlink:label="mfc_RestrictedShareUnitsAndPerformanceShareUnitsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RestrictedShareUnitsAndPerformanceShareUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3489258_3_1">Restricted share units and performance share units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RestrictedShareUnitsAndPerformanceShareUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3489258_1_1">Restricted share units and performance share units [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RestrictedShareUnitsAndPerformanceShareUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3489258_2_1">Restricted share units and performance share units [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RestrictedShareUnitsAndPerformanceShareUnitsMember" xlink:to="mfc_RestrictedShareUnitsAndPerformanceShareUnitsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RestrictedShareUnitsMember" xlink:label="mfc_RestrictedShareUnitsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RestrictedShareUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3479977_3_1">Restricted share units (RSUs).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RestrictedShareUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3479977_1_1">Restricted share units (RSUs) [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RestrictedShareUnitsMember_lbl" xml:lang="en-US" id="id_14036987_3479977_2_1">Restricted share units (RSUs) [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RestrictedShareUnitsMember" xlink:to="mfc_RestrictedShareUnitsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RetailInsuranceBusinessMember" xlink:label="mfc_RetailInsuranceBusinessMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RetailInsuranceBusinessMember_lbl" xml:lang="en-US" id="id_14036987_3495044_3_1">Retail Insurance Business [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RetailInsuranceBusinessMember_lbl" xml:lang="en-US" id="id_14036987_3495044_1_1">Retail Insurance Business [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RetailInsuranceBusinessMember_lbl" xml:lang="en-US" id="id_14036987_3495044_2_1">Retail Insurance Business [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RetailInsuranceBusinessMember" xlink:to="mfc_RetailInsuranceBusinessMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RetailMember" xlink:label="mfc_RetailMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RetailMember_lbl" xml:lang="en-US" id="id_14036987_3477144_3_1">Retail [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RetailMember_lbl" xml:lang="en-US" id="id_14036987_3477144_1_1">Retail [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RetailMember_lbl" xml:lang="en-US" id="id_14036987_3477144_2_1">Retail [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RetailMember" xlink:to="mfc_RetailMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RetailMutualFundAssetsUnderManagement" xlink:label="mfc_RetailMutualFundAssetsUnderManagement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RetailMutualFundAssetsUnderManagement_lbl" xml:lang="en-US" id="id_14036987_3453204_3_1">Retail mutual fund assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RetailMutualFundAssetsUnderManagement_lbl" xml:lang="en-US" id="id_14036987_3453204_1_1">Retail mutual fund assets under management</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RetailMutualFundAssetsUnderManagement_lbl" xml:lang="en-US" id="id_14036987_3453204_2_1">Retail mutual fund assets under management</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RetailMutualFundAssetsUnderManagement" xlink:to="mfc_RetailMutualFundAssetsUnderManagement_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarnings" xlink:label="ifrs-full_RetainedEarnings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarnings_lbl" xml:lang="en-US" id="id_14036987_3422771_1_1">Retained earnings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarnings_lbl" xml:lang="en-US" id="id_14036987_3422771_2_1">Shareholders' retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarnings" xlink:to="ifrs-full_RetainedEarnings_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarningsMember" xlink:label="ifrs-full_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xml:lang="en-US" id="id_14036987_3422911_1_1">Retained earnings [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xml:lang="en-US" id="id_14036987_3422911_2_1">Shareholders' Retained Earnings [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_RetireeWelfarePlansMember" xlink:label="mfc_RetireeWelfarePlansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_RetireeWelfarePlansMember_lbl" xml:lang="en-US" id="id_14036987_3480173_3_1">Retiree welfare plans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_RetireeWelfarePlansMember_lbl" xml:lang="en-US" id="id_14036987_3480173_1_1">Retiree welfare plans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_RetireeWelfarePlansMember_lbl" xml:lang="en-US" id="id_14036987_3480173_2_1">Retiree welfare plans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_RetireeWelfarePlansMember" xlink:to="mfc_RetireeWelfarePlansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ReturnOfCapitalFromUnconsolidatedSubsidiaries" xlink:label="mfc_ReturnOfCapitalFromUnconsolidatedSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ReturnOfCapitalFromUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3453180_3_1">Return of capital from unconsolidated subsidiaries.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ReturnOfCapitalFromUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3453180_1_1">Return of capital from unconsolidated subsidiaries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ReturnOfCapitalFromUnconsolidatedSubsidiaries_lbl" xml:lang="en-US" id="id_14036987_3453180_2_1">Return of capital from unconsolidated subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ReturnOfCapitalFromUnconsolidatedSubsidiaries" xlink:to="mfc_ReturnOfCapitalFromUnconsolidatedSubsidiaries_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ReturnOfCapitalToParent" xlink:label="mfc_ReturnOfCapitalToParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ReturnOfCapitalToParent_lbl" xml:lang="en-US" id="id_14036987_3453162_3_1">Return of capital to parent.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ReturnOfCapitalToParent_lbl" xml:lang="en-US" id="id_14036987_3453162_1_1">Return of capital to parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_ReturnOfCapitalToParent_lbl" xml:lang="en-US" id="id_14036987_3453162_14_1">Return of capital to parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ReturnOfCapitalToParent" xlink:to="mfc_ReturnOfCapitalToParent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3423607_1_1">Return on plan assets excluding interest income or expense, net defined benefit liability (asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3423607_2_1">Return on plan assets (excluding interest income)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US" id="id_14036987_3423607_14_1">Return on plan assets (excluding interest income)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ReturnseekingAssetsMember" xlink:label="mfc_ReturnseekingAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ReturnseekingAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480122_3_1">Return-seeking assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ReturnseekingAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480122_1_1">Return-seeking assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ReturnseekingAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480122_2_1">Return-seeking assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ReturnseekingAssetsMember" xlink:to="mfc_ReturnseekingAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevaluationSurplus" xlink:label="ifrs-full_RevaluationSurplus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevaluationSurplus_lbl" xml:lang="en-US" id="id_14036987_3422777_1_1">Revaluation surplus</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevaluationSurplus_lbl" xml:lang="en-US" id="id_14036987_3422777_2_1">Real estate revaluation surplus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevaluationSurplus" xlink:to="ifrs-full_RevaluationSurplus_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Revenue_lbl" xml:lang="en-US" id="id_14036987_3422778_1_1">Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Revenue_lbl" xml:lang="en-US" id="id_14036987_3422778_2_1">Total revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Revenue_lbl" xml:lang="en-US" id="id_14036987_3422778_6_1">Total revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueAbstract" xlink:label="ifrs-full_RevenueAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueAbstract_lbl" xml:lang="en-US" id="id_14036987_3422914_1_1">Revenue [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueAbstract_lbl" xml:lang="en-US" id="id_14036987_3422914_2_1">Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueAbstract" xlink:to="ifrs-full_RevenueAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromContractsWithCustomers" xlink:label="ifrs-full_RevenueFromContractsWithCustomers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromContractsWithCustomers_lbl" xml:lang="en-US" id="id_14036987_3423224_1_1">Revenue from contracts with customers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromContractsWithCustomers_lbl" xml:lang="en-US" id="id_14036987_3423224_2_1">Revenue from contracts with customers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromContractsWithCustomers" xlink:to="ifrs-full_RevenueFromContractsWithCustomers_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromDividends" xlink:label="ifrs-full_RevenueFromDividends"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromDividends_lbl" xml:lang="en-US" id="id_14036987_3422785_1_1">Dividend income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromDividends_lbl" xml:lang="en-US" id="id_14036987_3422785_2_1">Dividend income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromDividends" xlink:to="ifrs-full_RevenueFromDividends_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3422801_1_1">Reversal, allowance account for credit losses of financial assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xml:lang="en-US" id="id_14036987_3422801_14_1">Recoveries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:label="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_lbl" xml:lang="en-US" id="id_14036987_3422934_1_1">Reverse repurchase agreements and cash collateral on securities borrowed</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_lbl" xml:lang="en-US" id="id_14036987_3422934_2_1">Reverse repurchase transactions recorded as short-term receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:to="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ReverseRepurchaseAgreementsMember" xlink:label="mfc_ReverseRepurchaseAgreementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ReverseRepurchaseAgreementsMember_lbl" xml:lang="en-US" id="id_14036987_3479951_3_1">Reverse repurchase agreements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ReverseRepurchaseAgreementsMember_lbl" xml:lang="en-US" id="id_14036987_3479951_1_1">Reverse repurchase agreements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ReverseRepurchaseAgreementsMember_lbl" xml:lang="en-US" id="id_14036987_3479951_2_1">Reverse repurchase agreements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ReverseRepurchaseAgreementsMember" xlink:to="mfc_ReverseRepurchaseAgreementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SaleOfInvestmentsMember" xlink:label="mfc_SaleOfInvestmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SaleOfInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479635_3_1">Sale of investments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SaleOfInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479635_1_1">Sale of investments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SaleOfInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479635_2_1">Sale of investments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SaleOfInvestmentsMember" xlink:to="mfc_SaleOfInvestmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SalesFairValueMeasurementAssets" xlink:label="ifrs-full_SalesFairValueMeasurementAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SalesFairValueMeasurementAssets_lbl" xml:lang="en-US" id="id_14036987_3422818_1_1">Sales, fair value measurement, assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_SalesFairValueMeasurementAssets_lbl" xml:lang="en-US" id="id_14036987_3422818_14_1">Sales</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SalesFairValueMeasurementAssets" xlink:to="ifrs-full_SalesFairValueMeasurementAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ScenarioForecast1Member" xlink:label="mfc_ScenarioForecast1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ScenarioForecast1Member_lbl" xml:lang="en-US" id="id_14036987_3510453_3_1">Scenario forecast.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ScenarioForecast1Member_lbl" xml:lang="en-US" id="id_14036987_3510453_1_1">Scenario Forecast1 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ScenarioForecast1Member_lbl" xml:lang="en-US" id="id_14036987_3510453_2_1">Scenario Forecast [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ScenarioForecast1Member" xlink:to="mfc_ScenarioForecast1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:label="srt_ScheduleOfCondensedBalanceSheetTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScheduleOfCondensedBalanceSheetTableTextBlock_lbl" xml:lang="en-US" id="id_14036987_3423648_1_1">Condensed Balance Sheet [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ScheduleOfCondensedBalanceSheetTableTextBlock_lbl" xml:lang="en-US" id="id_14036987_3423648_2_1">Condensed Consolidated Statement of Financial Position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:to="srt_ScheduleOfCondensedBalanceSheetTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_ScheduleOfCondensedCashFlowStatementTableTextBlock" xlink:label="srt_ScheduleOfCondensedCashFlowStatementTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScheduleOfCondensedCashFlowStatementTableTextBlock_lbl" xml:lang="en-US" id="id_14036987_3422823_1_1">Condensed Cash Flow Statement [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ScheduleOfCondensedCashFlowStatementTableTextBlock_lbl" xml:lang="en-US" id="id_14036987_3422823_2_1">Consolidated Statement of Cash Flows</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfCondensedCashFlowStatementTableTextBlock" xlink:to="srt_ScheduleOfCondensedCashFlowStatementTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_ScheduleOfCondensedIncomeStatementTableTextBlock" xlink:label="srt_ScheduleOfCondensedIncomeStatementTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScheduleOfCondensedIncomeStatementTableTextBlock_lbl" xml:lang="en-US" id="id_14036987_3422824_1_1">Condensed Income Statement [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ScheduleOfCondensedIncomeStatementTableTextBlock_lbl" xml:lang="en-US" id="id_14036987_3422824_2_1">Condensed Consolidated Statement of Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfCondensedIncomeStatementTableTextBlock" xlink:to="srt_ScheduleOfCondensedIncomeStatementTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsLineItems" xlink:label="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsLineItems_lbl" xml:lang="en-US" id="id_14036987_3426267_3_1">Schedule of potential immediate impact on net income attributed to shareholders arising from changes to public equity returns</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsLineItems_lbl" xml:lang="en-US" id="id_14036987_3426267_1_1">Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsLineItems_lbl" xml:lang="en-US" id="id_14036987_3426267_2_1">Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsLineItems" xlink:to="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsTable" xlink:label="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsTable_lbl" xml:lang="en-US" id="id_14036987_3474615_3_1">Schedule of potential immediate impact on net income attributed to shareholders arising from changes to public equity returns.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsTable_lbl" xml:lang="en-US" id="id_14036987_3474615_1_1">Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsTable_lbl" xml:lang="en-US" id="id_14036987_3474615_2_1">Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsTable" xlink:to="mfc_ScheduleOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsTable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SecuredBorrowingLiabilities" xlink:label="mfc_SecuredBorrowingLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SecuredBorrowingLiabilities_lbl" xml:lang="en-US" id="id_14036987_3443173_3_1">The amount of secured borrowing liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SecuredBorrowingLiabilities_lbl" xml:lang="en-US" id="id_14036987_3443173_1_1">Secured Borrowing Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SecuredBorrowingLiabilities_lbl" xml:lang="en-US" id="id_14036987_3443173_2_1">SecuredBorrowingLiabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SecuredBorrowingLiabilities" xlink:to="mfc_SecuredBorrowingLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SecuritiesAndOtherInvestmentsMember" xlink:label="mfc_SecuritiesAndOtherInvestmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SecuritiesAndOtherInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3490573_3_1">Securities and other investments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SecuritiesAndOtherInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3490573_1_1">Securities and other investments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SecuritiesAndOtherInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3490573_2_1">Securities and other investments [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SecuritiesAndOtherInvestmentsMember" xlink:to="mfc_SecuritiesAndOtherInvestmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SecuritiesLendingMember" xlink:label="ifrs-full_SecuritiesLendingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SecuritiesLendingMember_lbl" xml:lang="en-US" id="id_14036987_3422829_1_1">Securities lending [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SecuritiesLendingMember_lbl" xml:lang="en-US" id="id_14036987_3422829_2_1">Securities lending [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SecuritiesLendingMember" xlink:to="ifrs-full_SecuritiesLendingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SecuritizationByProgramNameAxis" xlink:label="mfc_SecuritizationByProgramNameAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SecuritizationByProgramNameAxis_lbl" xml:lang="en-US" id="id_14036987_3475682_3_1">Securitization By Program Name [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SecuritizationByProgramNameAxis_lbl" xml:lang="en-US" id="id_14036987_3475682_1_1">Securitization By Program Name [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SecuritizationByProgramNameAxis_lbl" xml:lang="en-US" id="id_14036987_3475682_2_1">Securitization By Program Name [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SecuritizationByProgramNameAxis" xlink:to="mfc_SecuritizationByProgramNameAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SecuritizationByProgramNameDomain" xlink:label="mfc_SecuritizationByProgramNameDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SecuritizationByProgramNameDomain_lbl" xml:lang="en-US" id="id_14036987_3488909_3_1">Securitization By Program Name [domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SecuritizationByProgramNameDomain_lbl" xml:lang="en-US" id="id_14036987_3488909_1_1">Securitization By Program Name [domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SecuritizationByProgramNameDomain_lbl" xml:lang="en-US" id="id_14036987_3488909_2_1">Securitization By Program Name [domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SecuritizationByProgramNameDomain" xlink:to="mfc_SecuritizationByProgramNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SecuritizedAssets" xlink:label="mfc_SecuritizedAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SecuritizedAssets_lbl" xml:lang="en-US" id="id_14036987_3441080_3_1">Securitized assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SecuritizedAssets_lbl" xml:lang="en-US" id="id_14036987_3441080_1_1">Securitized assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SecuritizedAssets_lbl" xml:lang="en-US" id="id_14036987_3441080_2_1">Securitised Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SecuritizedAssets" xlink:to="mfc_SecuritizedAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SecuritizedAssetsMember" xlink:label="mfc_SecuritizedAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SecuritizedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480106_3_1">Securitized assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SecuritizedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480106_1_1">Securitized assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SecuritizedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480106_2_1">Securitized assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SecuritizedAssetsMember" xlink:to="mfc_SecuritizedAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SecuritizedHoldingsByTheTypeAndAssetQuality" xlink:label="mfc_SecuritizedHoldingsByTheTypeAndAssetQuality"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SecuritizedHoldingsByTheTypeAndAssetQuality_lbl" xml:lang="en-US" id="id_14036987_3453202_3_1">Securitized holdings by the type and asset quality.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SecuritizedHoldingsByTheTypeAndAssetQuality_lbl" xml:lang="en-US" id="id_14036987_3453202_1_1">Securitized holdings by the type and asset quality</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SecuritizedHoldingsByTheTypeAndAssetQuality_lbl" xml:lang="en-US" id="id_14036987_3453202_2_1">Securitized holdings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SecuritizedHoldingsByTheTypeAndAssetQuality" xlink:to="mfc_SecuritizedHoldingsByTheTypeAndAssetQuality_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SecuritizedMember" xlink:label="mfc_SecuritizedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SecuritizedMember_lbl" xml:lang="en-US" id="id_14036987_3479688_3_1">Securitized.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SecuritizedMember_lbl" xml:lang="en-US" id="id_14036987_3479688_1_1">Securitized [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SecuritizedMember_lbl" xml:lang="en-US" id="id_14036987_3479688_2_1">Securitized [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SecuritizedMember" xlink:to="mfc_SecuritizedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SecuritizedMortgagesMember" xlink:label="mfc_SecuritizedMortgagesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SecuritizedMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3480103_3_1">Securitized mortgages.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SecuritizedMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3480103_1_1">Securitized mortgages [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SecuritizedMortgagesMember_lbl" xml:lang="en-US" id="id_14036987_3480103_2_1">Securitized mortgages [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SecuritizedMortgagesMember" xlink:to="mfc_SecuritizedMortgagesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SegmentConsolidationItemsAxis_lbl" xml:lang="en-US" id="id_14036987_3423661_1_1">Segment consolidation items [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SegmentConsolidationItemsAxis_lbl" xml:lang="en-US" id="id_14036987_3423661_2_1">Segment consolidation items [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_SegmentConsolidationItemsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_SegmentGeographicalDomain" xlink:label="srt_SegmentGeographicalDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_SegmentGeographicalDomain_lbl" xml:lang="en-US" id="id_14036987_3423662_1_1">Geographical [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_SegmentGeographicalDomain_lbl" xml:lang="en-US" id="id_14036987_3423662_2_1">Geographical [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_SegmentGeographicalDomain" xlink:to="srt_SegmentGeographicalDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SegmentsAxis_lbl" xml:lang="en-US" id="id_14036987_3422831_1_1">Segments [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SegmentsAxis_lbl" xml:lang="en-US" id="id_14036987_3422831_2_1">Segments [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SegmentsMember_lbl" xml:lang="en-US" id="id_14036987_3423663_1_1">Segments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SegmentsMember_lbl" xml:lang="en-US" id="id_14036987_3423663_2_1">Segments [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentsMember" xlink:to="ifrs-full_SegmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SegregatedFundsCompositionPercentage" xlink:label="mfc_SegregatedFundsCompositionPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SegregatedFundsCompositionPercentage_lbl" xml:lang="en-US" id="id_14036987_3526256_3_1">Segregated funds composition percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SegregatedFundsCompositionPercentage_lbl" xml:lang="en-US" id="id_14036987_3526256_1_1">Segregated Funds composition Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SegregatedFundsCompositionPercentage_lbl" xml:lang="en-US" id="id_14036987_3526256_2_1">Type of fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SegregatedFundsCompositionPercentage" xlink:to="mfc_SegregatedFundsCompositionPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SegregatedFundsMember" xlink:label="mfc_SegregatedFundsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3480165_3_1">Segregated funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3480165_1_1">Segregated funds [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SegregatedFundsMember_lbl" xml:lang="en-US" id="id_14036987_3480165_2_1">Segregated funds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SegregatedFundsMember" xlink:to="mfc_SegregatedFundsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SegregatedFundsNetAssets" xlink:label="mfc_SegregatedFundsNetAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SegregatedFundsNetAssets_lbl" xml:lang="en-US" id="id_14036987_3453088_3_1">Segregated funds net assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SegregatedFundsNetAssets_lbl" xml:lang="en-US" id="id_14036987_3453088_1_1">Segregated Funds Net Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mfc_SegregatedFundsNetAssets_lbl" xml:lang="en-US" id="id_14036987_3453088_4_1">Segregated funds net assets, end of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mfc_SegregatedFundsNetAssets_lbl" xml:lang="en-US" id="id_14036987_3453088_5_1">Segregated funds net assets, beginning of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SegregatedFundsNetAssets_lbl" xml:lang="en-US" id="id_14036987_3453088_2_1">Total segregated funds net assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SegregatedFundsNetAssets" xlink:to="mfc_SegregatedFundsNetAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SegregatedFundsNetAssetsHeldByPolicyholders" xlink:label="mfc_SegregatedFundsNetAssetsHeldByPolicyholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SegregatedFundsNetAssetsHeldByPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443889_3_1">Segregated funds net assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SegregatedFundsNetAssetsHeldByPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443889_1_1">Segregated Funds Net Assets Held By Policyholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="mfc_SegregatedFundsNetAssetsHeldByPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443889_32_1">Segregated funds net assets (note 22)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SegregatedFundsNetAssetsHeldByPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443889_2_1">Held by policyholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_SegregatedFundsNetAssetsHeldByPolicyholders_lbl" xml:lang="en-US" id="id_14036987_3443889_12_1">Segregated funds net assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SegregatedFundsNetAssetsHeldByPolicyholders" xlink:to="mfc_SegregatedFundsNetAssetsHeldByPolicyholders_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SegregatedFundsNetAssetsHeldByTheCompany" xlink:label="mfc_SegregatedFundsNetAssetsHeldByTheCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SegregatedFundsNetAssetsHeldByTheCompany_lbl" xml:lang="en-US" id="id_14036987_3530386_3_1">Segregated funds net assets held by the company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SegregatedFundsNetAssetsHeldByTheCompany_lbl" xml:lang="en-US" id="id_14036987_3530386_1_1">Segregated Funds Net Assets Held By The Company</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SegregatedFundsNetAssetsHeldByTheCompany_lbl" xml:lang="en-US" id="id_14036987_3530386_2_1">Held by the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SegregatedFundsNetAssetsHeldByTheCompany" xlink:to="mfc_SegregatedFundsNetAssetsHeldByTheCompany_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SegregatedFundsNetAssetsMember" xlink:label="mfc_SegregatedFundsNetAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SegregatedFundsNetAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480180_3_1">Segregated funds net assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SegregatedFundsNetAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480180_1_1">Segregated funds net assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SegregatedFundsNetAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3480180_2_1">Segregated funds net assets [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SegregatedFundsNetAssetsMember" xlink:to="mfc_SegregatedFundsNetAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SegregatedFundsNetLiabilities" xlink:label="mfc_SegregatedFundsNetLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SegregatedFundsNetLiabilities_lbl" xml:lang="en-US" id="id_14036987_3443892_3_1">Segregated funds net liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SegregatedFundsNetLiabilities_lbl" xml:lang="en-US" id="id_14036987_3443892_1_1">Segregated Funds Net Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SegregatedFundsNetLiabilities_lbl" xml:lang="en-US" id="id_14036987_3443892_2_1">Segregated funds net liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_SegregatedFundsNetLiabilities_lbl" xml:lang="en-US" id="id_14036987_3443892_12_1">Segregated funds net liabilities (note 22)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SegregatedFundsNetLiabilities" xlink:to="mfc_SegregatedFundsNetLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SegregatedMutualAndOtherFundsMember" xlink:label="mfc_SegregatedMutualAndOtherFundsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SegregatedMutualAndOtherFundsMember_lbl" xml:lang="en-US" id="id_14036987_3479965_3_1">Segregated, mutual and other funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SegregatedMutualAndOtherFundsMember_lbl" xml:lang="en-US" id="id_14036987_3479965_1_1">Segregated, mutual and other funds [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SegregatedMutualAndOtherFundsMember_lbl" xml:lang="en-US" id="id_14036987_3479965_2_1">Related to segregated, mutual and other funds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SegregatedMutualAndOtherFundsMember" xlink:to="mfc_SegregatedMutualAndOtherFundsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US" id="id_14036987_3423256_1_1">Selling, general and administrative expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US" id="id_14036987_3423256_2_1">General expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets" xlink:label="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets_lbl" xml:lang="en-US" id="id_14036987_3453487_3_1">Sensitivities discount rate basis points used in financial assumption excluding change in market value of AFS fixed income assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets_lbl" xml:lang="en-US" id="id_14036987_3453487_1_1">Sensitivities discount rate basis points used in financial assumption excluding change in market value of AFS fixed income assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets_lbl" xml:lang="en-US" id="id_14036987_3453487_2_1">Excluding change in market value of AFS fixed income assets held in the Corporate and Other segment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets" xlink:to="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionExcludingChangeInMarketValueOfAFSFixedIncomeAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets" xlink:label="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets_lbl" xml:lang="en-US" id="id_14036987_3453488_3_1">Sensitivities discount rate basis points used in financial assumption from fair value changes in AFS fixed income assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets_lbl" xml:lang="en-US" id="id_14036987_3453488_1_1">Sensitivities discount rate basis points used in financial assumption from fair value changes in AFS fixed income assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets_lbl" xml:lang="en-US" id="id_14036987_3453488_2_1">From fair value changes in AFS fixed income assets held in the Corporate and Other segment, if realized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets" xlink:to="mfc_SensitivitiesDiscountRateBasisPointsUsedInFinancialAssumptionFromFairValueChangesInAFSFixedIncomeAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SensitivityBasisPointOfNetIncomeAttributedToShareholders" xlink:label="mfc_SensitivityBasisPointOfNetIncomeAttributedToShareholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SensitivityBasisPointOfNetIncomeAttributedToShareholders_lbl" xml:lang="en-US" id="id_14036987_3526496_3_1">Sensitivity basis point of net income attributed to shareholders.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SensitivityBasisPointOfNetIncomeAttributedToShareholders_lbl" xml:lang="en-US" id="id_14036987_3526496_1_1">Sensitivity basis point of net income attributed to shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SensitivityBasisPointOfNetIncomeAttributedToShareholders_lbl" xml:lang="en-US" id="id_14036987_3526496_2_1">Sensitivity of net income attributed to shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SensitivityBasisPointOfNetIncomeAttributedToShareholders" xlink:to="mfc_SensitivityBasisPointOfNetIncomeAttributedToShareholders_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SeparateManagementEntitiesAxis" xlink:label="ifrs-full_SeparateManagementEntitiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SeparateManagementEntitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3423668_1_1">Separate management entities [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SeparateManagementEntitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3423668_2_1">Separate management entities [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SeparateManagementEntitiesAxis" xlink:to="ifrs-full_SeparateManagementEntitiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SeparateManagementEntitiesMember" xlink:label="ifrs-full_SeparateManagementEntitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SeparateManagementEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3422961_1_1">Separate management entities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SeparateManagementEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3422961_2_1">Separate management entities [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SeparateManagementEntitiesMember" xlink:to="ifrs-full_SeparateManagementEntitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SettlementsFairValueMeasurementAssets" xlink:label="ifrs-full_SettlementsFairValueMeasurementAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SettlementsFairValueMeasurementAssets_lbl" xml:lang="en-US" id="id_14036987_3423260_1_1">Settlements, fair value measurement, assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_SettlementsFairValueMeasurementAssets_lbl" xml:lang="en-US" id="id_14036987_3423260_14_1">Settlements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SettlementsFairValueMeasurementAssets" xlink:to="ifrs-full_SettlementsFairValueMeasurementAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SettlementsMultipleSignificantUnobservableInputsOnDerivativeInstruments" xlink:label="mfc_SettlementsMultipleSignificantUnobservableInputsOnDerivativeInstruments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SettlementsMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl" xml:lang="en-US" id="id_14036987_3447148_3_1">Settlements multiple significant unobservable inputs on derivative instruments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SettlementsMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl" xml:lang="en-US" id="id_14036987_3447148_1_1">Settlements multiple significant unobservable inputs on derivative instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SettlementsMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl" xml:lang="en-US" id="id_14036987_3447148_2_1">Settlements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SettlementsMultipleSignificantUnobservableInputsOnDerivativeInstruments" xlink:to="mfc_SettlementsMultipleSignificantUnobservableInputsOnDerivativeInstruments_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SevenPointFiveThreeFivePercentageSeniorDebentureNotesMember" xlink:label="mfc_SevenPointFiveThreeFivePercentageSeniorDebentureNotesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SevenPointFiveThreeFivePercentageSeniorDebentureNotesMember_lbl" xml:lang="en-US" id="id_14036987_3479714_3_1">Seven point five three five percentage senior debenture notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SevenPointFiveThreeFivePercentageSeniorDebentureNotesMember_lbl" xml:lang="en-US" id="id_14036987_3479714_1_1">Seven point five three five percentage senior debenture notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SevenPointFiveThreeFivePercentageSeniorDebentureNotesMember_lbl" xml:lang="en-US" id="id_14036987_3479714_2_1">7.535% MFCT II Senior debenture notes [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SevenPointFiveThreeFivePercentageSeniorDebentureNotesMember" xlink:to="mfc_SevenPointFiveThreeFivePercentageSeniorDebentureNotesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SevenPointThreeSevenFiveSurplusNotesMember" xlink:label="mfc_SevenPointThreeSevenFiveSurplusNotesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SevenPointThreeSevenFiveSurplusNotesMember_lbl" xml:lang="en-US" id="id_14036987_3479726_3_1">Seven point three seven five surplus notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SevenPointThreeSevenFiveSurplusNotesMember_lbl" xml:lang="en-US" id="id_14036987_3479726_1_1">Seven point three seven five surplus notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SevenPointThreeSevenFiveSurplusNotesMember_lbl" xml:lang="en-US" id="id_14036987_3479726_2_1">7.375% JHUSA Surplus notes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SevenPointThreeSevenFiveSurplusNotesMember" xlink:to="mfc_SevenPointThreeSevenFiveSurplusNotesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod1" xlink:label="mfc_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod1_lbl" xml:lang="en-US" id="id_14036987_3472691_3_1">Period from grant date that an equity-based award expires.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod1_lbl" xml:lang="en-US" id="id_14036987_3472691_1_1">Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod1_lbl" xml:lang="en-US" id="id_14036987_3472691_2_1">Option expiration period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod1" xlink:to="mfc_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingDate" xlink:label="mfc_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingDate_lbl" xml:lang="en-US" id="id_14036987_3470115_3_1">Sharebased compensation arrangement by sharebased payment award vesting date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingDate_lbl" xml:lang="en-US" id="id_14036987_3470115_1_1">Sharebased compensation arrangement by sharebased payment award vesting date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingDate_lbl" xml:lang="en-US" id="id_14036987_3470115_2_1">Vesting date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingDate" xlink:to="mfc_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingDate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharebasedPaymentArrangementsMember" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember_lbl" xml:lang="en-US" id="id_14036987_3422970_1_1">Share-based payment arrangements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember_lbl" xml:lang="en-US" id="id_14036987_3422970_2_1">Share-based payment arrangements [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharebasedPaymentArrangementsMember" xlink:to="ifrs-full_SharebasedPaymentArrangementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ShareBasedPaymentsArrangementsMember" xlink:label="mfc_ShareBasedPaymentsArrangementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ShareBasedPaymentsArrangementsMember_lbl" xml:lang="en-US" id="id_14036987_3509016_3_1">Share based payments arrangements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ShareBasedPaymentsArrangementsMember_lbl" xml:lang="en-US" id="id_14036987_3509016_1_1">Share based payments arrangements [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ShareBasedPaymentsArrangementsMember_lbl" xml:lang="en-US" id="id_14036987_3509016_2_1">Share based payments arrangements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ShareBasedPaymentsArrangementsMember" xlink:to="mfc_ShareBasedPaymentsArrangementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareIssueRelatedCost" xlink:label="ifrs-full_ShareIssueRelatedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareIssueRelatedCost_lbl" xml:lang="en-US" id="id_14036987_3422971_1_1">Share issue related cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_ShareIssueRelatedCost_lbl" xml:lang="en-US" id="id_14036987_3422971_14_1">Issuance costs, net of tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareIssueRelatedCost" xlink:to="ifrs-full_ShareIssueRelatedCost_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3423683_1_1">Share of other comprehensive income of associates and joint ventures accounted for using equity method that will be reclassified to profit or loss, net of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xml:lang="en-US" id="id_14036987_3423683_2_1">Share of other comprehensive income (losses) of associates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en-US" id="id_14036987_3423684_1_1">Share of profit (loss) of associates and joint ventures accounted for using equity method</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en-US" id="id_14036987_3423684_2_1">Profit (loss) from associates and joint ventures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares" xlink:label="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl" xml:lang="en-US" id="id_14036987_3422982_1_1">Number of shares reserved for issue under options and contracts for sale of shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl" xml:lang="en-US" id="id_14036987_3422982_2_1">Shares reserved for future issuance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares" xlink:to="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xml:lang="en-US" id="id_14036987_3423280_1_1">Short-term investments, classified as cash equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xml:lang="en-US" id="id_14036987_3423280_2_1">Cash and short-term securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xml:lang="en-US" id="id_14036987_3423280_12_1">Short-term securities with maturities of less than one year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xml:lang="en-US" id="id_14036987_3423286_1_1">Subsidiaries [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xml:lang="en-US" id="id_14036987_3423286_2_1">Subsidiaries [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SPPINonQualifyingMember" xlink:label="mfc_SPPINonQualifyingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SPPINonQualifyingMember_lbl" xml:lang="en-US" id="id_14036987_3541780_3_1">SPPI non qualifying [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SPPINonQualifyingMember_lbl" xml:lang="en-US" id="id_14036987_3541780_1_1">SPPI non qualifying [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SPPINonQualifyingMember_lbl" xml:lang="en-US" id="id_14036987_3541780_2_1">SPPI non qualifying [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SPPINonQualifyingMember" xlink:to="mfc_SPPINonQualifyingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SPPIQualifyingMember" xlink:label="mfc_SPPIQualifyingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SPPIQualifyingMember_lbl" xml:lang="en-US" id="id_14036987_3541777_3_1">SPPI qualifying.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SPPIQualifyingMember_lbl" xml:lang="en-US" id="id_14036987_3541777_1_1">SPPI qualifying [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SPPIQualifyingMember_lbl" xml:lang="en-US" id="id_14036987_3541777_2_1">SPPI qualifying [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SPPIQualifyingMember" xlink:to="mfc_SPPIQualifyingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SpreadPeriodToGradeToLongtermAverage" xlink:label="mfc_SpreadPeriodToGradeToLongtermAverage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SpreadPeriodToGradeToLongtermAverage_lbl" xml:lang="en-US" id="id_14036987_3472749_3_1">Spread Period to grade to long-term average.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SpreadPeriodToGradeToLongtermAverage_lbl" xml:lang="en-US" id="id_14036987_3472749_1_1">Spread Period to grade to long-term average</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SpreadPeriodToGradeToLongtermAverage_lbl" xml:lang="en-US" id="id_14036987_3472749_2_1">Spreads period assumed to grade to long-term average</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SpreadPeriodToGradeToLongtermAverage" xlink:to="mfc_SpreadPeriodToGradeToLongtermAverage_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_StandardLifePlcMember" xlink:label="mfc_StandardLifePlcMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_StandardLifePlcMember_lbl" xml:lang="en-US" id="id_14036987_3479723_3_1">Standard life plc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_StandardLifePlcMember_lbl" xml:lang="en-US" id="id_14036987_3479723_1_1">Standard Life plc [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_StandardLifePlcMember_lbl" xml:lang="en-US" id="id_14036987_3479723_2_1">Standard Life Plc [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_StandardLifePlcMember" xlink:to="mfc_StandardLifePlcMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_StatementGeographicalAxis" xlink:label="srt_StatementGeographicalAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_StatementGeographicalAxis_lbl" xml:lang="en-US" id="id_14036987_3423303_1_1">Geographical [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_StatementGeographicalAxis_lbl" xml:lang="en-US" id="id_14036987_3423303_2_1">Geographical [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_StatementGeographicalAxis" xlink:to="srt_StatementGeographicalAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_StatementLineItems" xlink:label="mfc_StatementLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_StatementLineItems_lbl" xml:lang="en-US" id="id_14036987_3426236_3_1">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_StatementLineItems_lbl" xml:lang="en-US" id="id_14036987_3426236_1_1">Statement [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_StatementLineItems_lbl" xml:lang="en-US" id="id_14036987_3426236_2_1">Statement [LineItems]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_StatementLineItems" xlink:to="mfc_StatementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="ifrs-full_StatementOfCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" id="id_14036987_3423004_1_1">Statement of cash flows [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" id="id_14036987_3423004_2_1">Statement of cash flows [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfCashFlowsAbstract" xlink:to="ifrs-full_StatementOfCashFlowsAbstract_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="id_14036987_3422873_1_1">Statement of financial position [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="id_14036987_3422873_2_1">Statement of financial position [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfFinancialPositionAbstract" xlink:to="ifrs-full_StatementOfFinancialPositionAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_StatementOfFinancialStatementsTable" xlink:label="mfc_StatementOfFinancialStatementsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_StatementOfFinancialStatementsTable_lbl" xml:lang="en-US" id="id_14036987_3474461_3_1">Statement of financial statements [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_StatementOfFinancialStatementsTable_lbl" xml:lang="en-US" id="id_14036987_3474461_1_1">Statement of financial statements [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_StatementOfFinancialStatementsTable_lbl" xml:lang="en-US" id="id_14036987_3474461_2_1">Statement of financial statements [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_StatementOfFinancialStatementsTable" xlink:to="mfc_StatementOfFinancialStatementsTable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_StatementTable" xlink:label="mfc_StatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_StatementTable_lbl" xml:lang="en-US" id="id_14036987_3426235_3_1">Schedule reflecting a Statement of Income, Statement of Cash Flows, Statement of Financial Position, Statement of Shareholders Equity and Other Comprehensive Income, or other statement as needed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_StatementTable_lbl" xml:lang="en-US" id="id_14036987_3426235_1_1">Statement [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_StatementTable_lbl" xml:lang="en-US" id="id_14036987_3426235_2_1">Statement [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_StatementTable" xlink:to="mfc_StatementTable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_StockBasedCompensationMember" xlink:label="mfc_StockBasedCompensationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_StockBasedCompensationMember_lbl" xml:lang="en-US" id="id_14036987_3479800_3_1">Stock based compensation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_StockBasedCompensationMember_lbl" xml:lang="en-US" id="id_14036987_3479800_1_1">Stock based compensation [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_StockBasedCompensationMember_lbl" xml:lang="en-US" id="id_14036987_3479800_2_1">Stock-based compensation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_StockBasedCompensationMember" xlink:to="mfc_StockBasedCompensationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_StockIssuedDuringPeriodSharesDividendReinvestmentPlan1" xlink:label="mfc_StockIssuedDuringPeriodSharesDividendReinvestmentPlan1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_StockIssuedDuringPeriodSharesDividendReinvestmentPlan1_lbl" xml:lang="en-US" id="id_14036987_3468544_3_1">Stock Issued During Period Shares Dividend Reinvestment Plan 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_StockIssuedDuringPeriodSharesDividendReinvestmentPlan1_lbl" xml:lang="en-US" id="id_14036987_3468544_1_1">Stock Issued During Period Shares Dividend Reinvestment Plan 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_StockIssuedDuringPeriodSharesDividendReinvestmentPlan1_lbl" xml:lang="en-US" id="id_14036987_3468544_2_1">Issued under dividend reinvestment plan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_StockIssuedDuringPeriodSharesDividendReinvestmentPlan1" xlink:to="mfc_StockIssuedDuringPeriodSharesDividendReinvestmentPlan1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_StockIssuedDuringPeriodValueDividendReinvestmentPlan1" xlink:label="mfc_StockIssuedDuringPeriodValueDividendReinvestmentPlan1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_StockIssuedDuringPeriodValueDividendReinvestmentPlan1_lbl" xml:lang="en-US" id="id_14036987_3446656_3_1">Stock Issued During Period Value Dividend Reinvestment Plan 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_StockIssuedDuringPeriodValueDividendReinvestmentPlan1_lbl" xml:lang="en-US" id="id_14036987_3446656_1_1">Stock Issued During Period Value Dividend Reinvestment Plan 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_StockIssuedDuringPeriodValueDividendReinvestmentPlan1_lbl" xml:lang="en-US" id="id_14036987_3446656_2_1">Issued under dividend reinvestment plan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_StockIssuedDuringPeriodValueDividendReinvestmentPlan1" xlink:to="mfc_StockIssuedDuringPeriodValueDividendReinvestmentPlan1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_StockRepurchasedDuringPeriodShares1" xlink:label="mfc_StockRepurchasedDuringPeriodShares1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_StockRepurchasedDuringPeriodShares1_lbl" xml:lang="en-US" id="id_14036987_3468859_3_1">Number of shares that have been repurchased during the period and have been retired.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_StockRepurchasedDuringPeriodShares1_lbl" xml:lang="en-US" id="id_14036987_3468859_1_1">Stock Repurchased During Period, Shares 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_StockRepurchasedDuringPeriodShares1_lbl" xml:lang="en-US" id="id_14036987_3468859_2_1">Repurchased for cancellation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_StockRepurchasedDuringPeriodShares1_lbl" xml:lang="en-US" id="id_14036987_3468859_12_1">Stock repurchased for cancellation, share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_StockRepurchasedDuringPeriodShares1" xlink:to="mfc_StockRepurchasedDuringPeriodShares1_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_StockRepurchasedDuringPeriodValue1" xlink:label="mfc_StockRepurchasedDuringPeriodValue1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_StockRepurchasedDuringPeriodValue1_lbl" xml:lang="en-US" id="id_14036987_3465028_3_1">Stock Repurchased During Period Value 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_StockRepurchasedDuringPeriodValue1_lbl" xml:lang="en-US" id="id_14036987_3465028_1_1">Stock Repurchased During Period Value 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_StockRepurchasedDuringPeriodValue1_lbl" xml:lang="en-US" id="id_14036987_3465028_2_1">Stock repurchased for cancellation, value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_StockRepurchasedDuringPeriodValue1_lbl" xml:lang="en-US" id="id_14036987_3465028_14_1">Repurchased for cancellation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_StockRepurchasedDuringPeriodValue1" xlink:to="mfc_StockRepurchasedDuringPeriodValue1_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract" xlink:label="ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3423012_1_1">Subclassifications of assets, liabilities and equities [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract_lbl" xml:lang="en-US" id="id_14036987_3423012_2_1">Subclassifications of assets, liabilities and equities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract" xlink:to="ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SubordinatedDebenturesDueOnDecember152041Member" xlink:label="mfc_SubordinatedDebenturesDueOnDecember152041Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SubordinatedDebenturesDueOnDecember152041Member_lbl" xml:lang="en-US" id="id_14036987_3480148_3_1">Subordinated debentures due on December 15, 2041.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SubordinatedDebenturesDueOnDecember152041Member_lbl" xml:lang="en-US" id="id_14036987_3480148_1_1">Subordinated Debentures Due On December 15, 2041 [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SubordinatedDebenturesDueOnDecember152041Member_lbl" xml:lang="en-US" id="id_14036987_3480148_2_1">Subordinated debentures due on December 15, 2041 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SubordinatedDebenturesDueOnDecember152041Member" xlink:to="mfc_SubordinatedDebenturesDueOnDecember152041Member_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SubordinateGuaranteeIssued" xlink:label="mfc_SubordinateGuaranteeIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SubordinateGuaranteeIssued_lbl" xml:lang="en-US" id="id_14036987_3453773_3_1">Subordinate guarantee issued.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SubordinateGuaranteeIssued_lbl" xml:lang="en-US" id="id_14036987_3453773_1_1">Subordinate guarantee issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SubordinateGuaranteeIssued_lbl" xml:lang="en-US" id="id_14036987_3453773_2_1">Subordinate guaranteed issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SubordinateGuaranteeIssued" xlink:to="mfc_SubordinateGuaranteeIssued_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock" xlink:label="mfc_SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock_lbl" xml:lang="en-US" id="id_14036987_3521391_3_1">Summary of credit quality and carrying value of commercial mortgages and private placements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock_lbl" xml:lang="en-US" id="id_14036987_3521391_1_1">Summary of credit quality and carrying value of commercial mortgage and private placement [text block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock_lbl" xml:lang="en-US" id="id_14036987_3521391_2_1">Summary of Credit Quality and Carrying Value of Commercial Mortgages and Private Placements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock" xlink:to="mfc_SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_SupplementalCashFlowInformation1Abstract" xlink:label="mfc_SupplementalCashFlowInformation1Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_SupplementalCashFlowInformation1Abstract_lbl" xml:lang="en-US" id="id_14036987_3431107_3_1">Supplemental cash flow information.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_SupplementalCashFlowInformation1Abstract_lbl" xml:lang="en-US" id="id_14036987_3431107_1_1">Supplemental Cash Flow Information 1 [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_SupplementalCashFlowInformation1Abstract_lbl" xml:lang="en-US" id="id_14036987_3431107_2_1">Supplemental disclosures on cash flow information</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mfc_SupplementalCashFlowInformation1Abstract_lbl" xml:lang="en-US" id="id_14036987_3431107_12_1">Supplemental disclosures on cash flow information:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_SupplementalCashFlowInformation1Abstract" xlink:to="mfc_SupplementalCashFlowInformation1Abstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SurplusDeficitInPlan" xlink:label="ifrs-full_SurplusDeficitInPlan"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SurplusDeficitInPlan_lbl" xml:lang="en-US" id="id_14036987_3423022_1_1">Surplus (deficit) in plan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_SurplusDeficitInPlan_lbl" xml:lang="en-US" id="id_14036987_3423022_19_1">Deficit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SurplusDeficitInPlan" xlink:to="ifrs-full_SurplusDeficitInPlan_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SwapContractMember" xlink:label="ifrs-full_SwapContractMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SwapContractMember_lbl" xml:lang="en-US" id="id_14036987_3423737_1_1">Swap contract [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SwapContractMember_lbl" xml:lang="en-US" id="id_14036987_3423737_2_1">Swap contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SwapContractMember" xlink:to="ifrs-full_SwapContractMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceDeferredTaxExpense" xlink:label="ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceDeferredTaxExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceDeferredTaxExpense_lbl" xml:lang="en-US" id="id_14036987_3423989_1_1">Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce deferred tax expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceDeferredTaxExpense_lbl" xml:lang="en-US" id="id_14036987_3423989_2_1">Deferred tax assets - recognition dependent on future taxable profits</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TaxCreditCarryForwardsExpiredInFuture_lbl" xml:lang="en-US" id="id_14036987_3446664_3_1">Tax credit carry forwards expired in future.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TaxCreditCarryForwardsExpiredInFuture_lbl" xml:lang="en-US" id="id_14036987_3446664_1_1">Tax credit carry forwards expired in future</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TaxCreditCarryForwardsExpiredInFuture_lbl" xml:lang="en-US" id="id_14036987_3446664_2_1">Tax credit carry forwards which expire in future</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TaxCreditCarryForwardsExpiredInFuture" xlink:to="mfc_TaxCreditCarryForwardsExpiredInFuture_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TaxCreditLossCarryForwardExpiration" xlink:label="mfc_TaxCreditLossCarryForwardExpiration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TaxCreditLossCarryForwardExpiration_lbl" xml:lang="en-US" id="id_14036987_3470636_3_1">Tax credit loss carry forward expiration.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TaxCreditLossCarryForwardExpiration_lbl" xml:lang="en-US" id="id_14036987_3470636_1_1">Tax credit loss carry forward expiration</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TaxCreditLossCarryForwardExpiration_lbl" xml:lang="en-US" id="id_14036987_3470636_2_1">Tax credit/Loss carryforwards expiration period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TaxCreditLossCarryForwardExpiration" xlink:to="mfc_TaxCreditLossCarryForwardExpiration_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxEffectFromChangeInTaxRate" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate_lbl" xml:lang="en-US" id="id_14036987_3423990_1_1">Tax effect from change in tax rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate_lbl" xml:lang="en-US" id="id_14036987_3423990_2_1">Impact of U.S. Tax Reform</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectFromChangeInTaxRate" xlink:to="ifrs-full_TaxEffectFromChangeInTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TaxEffectFromChangeInTaxRateInInsuranceContracts" xlink:label="mfc_TaxEffectFromChangeInTaxRateInInsuranceContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TaxEffectFromChangeInTaxRateInInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447149_3_1">Tax effect from change in tax rate in insurance contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TaxEffectFromChangeInTaxRateInInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447149_1_1">Tax effect from change in tax rate, in insurance contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_TaxEffectFromChangeInTaxRateInInsuranceContracts_lbl" xml:lang="en-US" id="id_14036987_3447149_14_1">Impact of U.S. Tax Reform</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TaxEffectFromChangeInTaxRateInInsuranceContracts" xlink:to="mfc_TaxEffectFromChangeInTaxRateInInsuranceContracts_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TaxEffectFromChangeInTaxRateInInsuranceContractsPostTax" xlink:label="mfc_TaxEffectFromChangeInTaxRateInInsuranceContractsPostTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TaxEffectFromChangeInTaxRateInInsuranceContractsPostTax_lbl" xml:lang="en-US" id="id_14036987_3447256_3_1">Tax effect from change in tax rate, in insurance contracts, post tax.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TaxEffectFromChangeInTaxRateInInsuranceContractsPostTax_lbl" xml:lang="en-US" id="id_14036987_3447256_1_1">Tax effect from change in tax rate, in insurance contracts, post tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TaxEffectFromChangeInTaxRateInInsuranceContractsPostTax_lbl" xml:lang="en-US" id="id_14036987_3447256_2_1">Impact of U.S. Tax Reform, post-tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TaxEffectFromChangeInTaxRateInInsuranceContractsPostTax" xlink:to="mfc_TaxEffectFromChangeInTaxRateInInsuranceContractsPostTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxEffectOfForeignTaxRates" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates_lbl" xml:lang="en-US" id="id_14036987_3423741_1_1">Tax effect of foreign tax rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates_lbl" xml:lang="en-US" id="id_14036987_3423741_2_1">Differences in tax rate on income not subject to tax in Canada</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectOfForeignTaxRates" xlink:to="ifrs-full_TaxEffectOfForeignTaxRates_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011" xlink:label="ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011_lbl" xml:lang="en-US" id="id_14036987_3423026_1_1">Tax effect of revenues exempt from taxation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011_lbl" xml:lang="en-US" id="id_14036987_3423026_14_1">Tax-exempt investment income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011" xlink:to="ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_lbl" xml:lang="en-US" id="id_14036987_3423742_1_1">Tax expense (income) at applicable tax rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_lbl" xml:lang="en-US" id="id_14036987_3423742_2_1">Income tax expense at Canadian statutory tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:to="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TaxRateAppliedToCashFlowProjections" xlink:label="mfc_TaxRateAppliedToCashFlowProjections"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TaxRateAppliedToCashFlowProjections_lbl" xml:lang="en-US" id="id_14036987_3526414_3_1">The tax rate applied to cash flow projections for a cash-generating unit (group of units).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TaxRateAppliedToCashFlowProjections_lbl" xml:lang="en-US" id="id_14036987_3526414_1_1">Tax rate applied to cash flow projections</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TaxRateAppliedToCashFlowProjections_lbl" xml:lang="en-US" id="id_14036987_3526414_2_1">Tax rate applied to cash flow projections</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TaxRateAppliedToCashFlowProjections" xlink:to="mfc_TaxRateAppliedToCashFlowProjections_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TechnologyMember" xlink:label="mfc_TechnologyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TechnologyMember_lbl" xml:lang="en-US" id="id_14036987_3479685_3_1">Technology.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TechnologyMember_lbl" xml:lang="en-US" id="id_14036987_3479685_1_1">Technology [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TechnologyMember_lbl" xml:lang="en-US" id="id_14036987_3479685_2_1">Technology [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TechnologyMember" xlink:to="mfc_TechnologyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TelecommunicationsMember" xlink:label="mfc_TelecommunicationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TelecommunicationsMember_lbl" xml:lang="en-US" id="id_14036987_3479686_3_1">Telecommunications.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TelecommunicationsMember_lbl" xml:lang="en-US" id="id_14036987_3479686_1_1">Telecommunications [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TelecommunicationsMember_lbl" xml:lang="en-US" id="id_14036987_3479686_2_1">Telecommunications [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TelecommunicationsMember" xlink:to="mfc_TelecommunicationsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures" xlink:label="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures_lbl" xml:lang="en-US" id="id_14036987_3423748_1_1">Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures_lbl" xml:lang="en-US" id="id_14036987_3423748_2_1">Aggregate amount of taxable temporary differences associated with the Company's own investments in subsidiaries, not included in financial statements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures" xlink:to="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xml:lang="en-US" id="id_14036987_3423034_1_1">Temporary difference, unused tax losses and unused tax credits [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xml:lang="en-US" id="id_14036987_3423034_2_1">Temporary difference, unused tax losses and unused tax credits [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:to="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xml:lang="en-US" id="id_14036987_3423035_1_1">Temporary difference, unused tax losses and unused tax credits [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xml:lang="en-US" id="id_14036987_3423035_2_1">Temporary difference, unused tax losses and unused tax credits [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:to="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TenPercentAdverseChangeInFuturePolicyTerminationRatesMember" xlink:label="mfc_TenPercentAdverseChangeInFuturePolicyTerminationRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TenPercentAdverseChangeInFuturePolicyTerminationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3541955_3_1">Ten percent adverse change in future policy termination rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TenPercentAdverseChangeInFuturePolicyTerminationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3541955_1_1">Ten percent adverse change in future policy termination rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TenPercentAdverseChangeInFuturePolicyTerminationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3541955_2_1">10% adverse change in future policy termination rates [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TenPercentAdverseChangeInFuturePolicyTerminationRatesMember" xlink:to="mfc_TenPercentAdverseChangeInFuturePolicyTerminationRatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TenPercentAdverseChangeInFutureTerminationRatesMember" xlink:label="mfc_TenPercentAdverseChangeInFutureTerminationRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TenPercentAdverseChangeInFutureTerminationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3479859_3_1">This member stands for ten percent adverse change in future termination rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TenPercentAdverseChangeInFutureTerminationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3479859_1_1">Ten percent adverse change in future termination rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TenPercentAdverseChangeInFutureTerminationRatesMember_lbl" xml:lang="en-US" id="id_14036987_3479859_2_1">10% Adverse change in future policy termination rates [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TenPercentAdverseChangeInFutureTerminationRatesMember" xlink:to="mfc_TenPercentAdverseChangeInFutureTerminationRatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TenPercentageChangeInMarketValueOfEquityMember" xlink:label="mfc_TenPercentageChangeInMarketValueOfEquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TenPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489462_3_1">10% change in market value of equity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TenPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489462_1_1">Ten Percentage Change in Market Value of Equity [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TenPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489462_2_1">10% [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TenPercentageChangeInMarketValueOfEquityMember" xlink:to="mfc_TenPercentageChangeInMarketValueOfEquityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TermOfCreditDefaultSwaps" xlink:label="mfc_TermOfCreditDefaultSwaps"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TermOfCreditDefaultSwaps_lbl" xml:lang="en-US" id="id_14036987_3472734_3_1">Term of credit default swaps.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TermOfCreditDefaultSwaps_lbl" xml:lang="en-US" id="id_14036987_3472734_1_1">Term Of Credit Default Swaps</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TermOfCreditDefaultSwaps_lbl" xml:lang="en-US" id="id_14036987_3472734_2_1">Term of credit default swaps</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TermOfCreditDefaultSwaps" xlink:to="mfc_TermOfCreditDefaultSwaps_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TextBlockAbstract" xlink:label="mfc_TextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TextBlockAbstract_lbl" xml:lang="en-US" id="id_14036987_3426207_3_1">Text block [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TextBlockAbstract_lbl" xml:lang="en-US" id="id_14036987_3426207_1_1">Text block [abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TextBlockAbstract_lbl" xml:lang="en-US" id="id_14036987_3426207_2_1">Text Block [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TextBlockAbstract" xlink:to="mfc_TextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TheManufacturersInvestmentCorporationMember" xlink:label="mfc_TheManufacturersInvestmentCorporationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TheManufacturersInvestmentCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3479782_3_1">The Manufacturers Investment Corporation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TheManufacturersInvestmentCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3479782_1_1">The Manufacturers Investment Corporation [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TheManufacturersInvestmentCorporationMember_lbl" xml:lang="en-US" id="id_14036987_3479782_2_1">The Manufacturers Investment Corporation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TheManufacturersInvestmentCorporationMember" xlink:to="mfc_TheManufacturersInvestmentCorporationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TheManufacturersLifeInsuranceCompanyMember" xlink:label="mfc_TheManufacturersLifeInsuranceCompanyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TheManufacturersLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479733_3_1">The Manufacturers Life Insurance Company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TheManufacturersLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479733_1_1">The Manufacturers Life Insurance Company [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TheManufacturersLifeInsuranceCompanyMember_lbl" xml:lang="en-US" id="id_14036987_3479733_2_1">The Manufacturers Life Insurance Company [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TheManufacturersLifeInsuranceCompanyMember" xlink:to="mfc_TheManufacturersLifeInsuranceCompanyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TheManufacturersLifeInsuranceCoPhilsIncMember" xlink:label="mfc_TheManufacturersLifeInsuranceCoPhilsIncMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TheManufacturersLifeInsuranceCoPhilsIncMember_lbl" xml:lang="en-US" id="id_14036987_3530404_3_1">The Manufacturers Life Insurance Co. (Phils.) Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TheManufacturersLifeInsuranceCoPhilsIncMember_lbl" xml:lang="en-US" id="id_14036987_3530404_1_1">The Manufacturers Life Insurance Co Phils Inc [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TheManufacturersLifeInsuranceCoPhilsIncMember_lbl" xml:lang="en-US" id="id_14036987_3530404_2_1">The Manufacturers Life Insurance Co. (Phils.) Inc. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TheManufacturersLifeInsuranceCoPhilsIncMember" xlink:to="mfc_TheManufacturersLifeInsuranceCoPhilsIncMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ThirtyPercentageChangeInMarketValueOfEquityMember" xlink:label="mfc_ThirtyPercentageChangeInMarketValueOfEquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ThirtyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489467_3_1">30% change in market value equity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ThirtyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489467_1_1">Thirty Percentage Change in Market Value of Equity [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ThirtyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489467_2_1">30% [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ThirtyPercentageChangeInMarketValueOfEquityMember" xlink:to="mfc_ThirtyPercentageChangeInMarketValueOfEquityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ThreePointEightFivePercentageSubordinatedDebenturesMember" xlink:label="mfc_ThreePointEightFivePercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ThreePointEightFivePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479719_3_1">Three point eight five percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ThreePointEightFivePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479719_1_1">Three point eight five percentage subordinated debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ThreePointEightFivePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479719_2_1">3.85% MFC Subordinated notes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ThreePointEightFivePercentageSubordinatedDebenturesMember" xlink:to="mfc_ThreePointEightFivePercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ThreePointFiveTwoSevenPercentageSeniorNotesMember" xlink:label="mfc_ThreePointFiveTwoSevenPercentageSeniorNotesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ThreePointFiveTwoSevenPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3530689_3_1">3.527% senior notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ThreePointFiveTwoSevenPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3530689_1_1">Three Point Five Two Seven Percentage Senior Notes [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ThreePointFiveTwoSevenPercentageSeniorNotesMember_lbl" xml:lang="en-US" id="id_14036987_3530689_2_1">3.527% Senior notes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ThreePointFiveTwoSevenPercentageSeniorNotesMember" xlink:to="mfc_ThreePointFiveTwoSevenPercentageSeniorNotesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ThreePointOneEightOnePercentageSubordinatedDebenturesMember" xlink:label="mfc_ThreePointOneEightOnePercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ThreePointOneEightOnePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479717_3_1">Three point one eight one percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ThreePointOneEightOnePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479717_1_1">Three point one eight one percentage subordinated debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ThreePointOneEightOnePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479717_2_1">3.181% MLI Subordinated debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ThreePointOneEightOnePercentageSubordinatedDebenturesMember" xlink:to="mfc_ThreePointOneEightOnePercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ThreePointThreeOneSevenPercentageSubordinatedDebenturesMember" xlink:label="mfc_ThreePointThreeOneSevenPercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ThreePointThreeOneSevenPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3536726_3_1">Three point three one seven percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ThreePointThreeOneSevenPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3536726_1_1">Three point three one seven percentage subordinated debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ThreePointThreeOneSevenPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3536726_2_1">3.317% MFC Subordinated debentures [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ThreePointThreeOneSevenPercentageSubordinatedDebenturesMember" xlink:to="mfc_ThreePointThreeOneSevenPercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ThreePointZeroFourNinePercentageSubordinatedDebenturesMember" xlink:label="mfc_ThreePointZeroFourNinePercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ThreePointZeroFourNinePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3494898_3_1">Three point zero four nine percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ThreePointZeroFourNinePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3494898_1_1">Three Point Zero Four Nine Percentage Subordinated Debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ThreePointZeroFourNinePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3494898_2_1">3.049% MFC Subordinated debentures [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ThreePointZeroFourNinePercentageSubordinatedDebenturesMember" xlink:to="mfc_ThreePointZeroFourNinePercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ThreePointZeroZeroPercentageSubordinatedDebenturesMember" xlink:label="mfc_ThreePointZeroZeroPercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ThreePointZeroZeroPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3495025_3_1">Three point zero zero percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ThreePointZeroZeroPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3495025_1_1">Three Point Zero Zero Percentage Subordinated Debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ThreePointZeroZeroPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3495025_2_1">3.00% MFC subordinated notes [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ThreePointZeroZeroPercentageSubordinatedDebenturesMember" xlink:to="mfc_ThreePointZeroZeroPercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TimberAndAgricultureInvestmentsMember" xlink:label="mfc_TimberAndAgricultureInvestmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TimberAndAgricultureInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479896_3_1">Timber and agriculture investments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TimberAndAgricultureInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479896_1_1">Timber and agriculture investments [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TimberAndAgricultureInvestmentsMember_lbl" xml:lang="en-US" id="id_14036987_3479896_2_1">Timber and agriculture [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TimberAndAgricultureInvestmentsMember" xlink:to="mfc_TimberAndAgricultureInvestmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TimberAndAgricultureMember" xlink:label="mfc_TimberAndAgricultureMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TimberAndAgricultureMember_lbl" xml:lang="en-US" id="id_14036987_3479862_3_1">Timber and agriculture.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TimberAndAgricultureMember_lbl" xml:lang="en-US" id="id_14036987_3479862_1_1">Timber and agriculture [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TimberAndAgricultureMember_lbl" xml:lang="en-US" id="id_14036987_3479862_2_1">Timber and agriculture [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TimberAndAgricultureMember" xlink:to="mfc_TimberAndAgricultureMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TimberlandCompaniesMember" xlink:label="mfc_TimberlandCompaniesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TimberlandCompaniesMember_lbl" xml:lang="en-US" id="id_14036987_3480155_3_1">Timberland companies.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TimberlandCompaniesMember_lbl" xml:lang="en-US" id="id_14036987_3480155_1_1">Timberland companies [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TimberlandCompaniesMember_lbl" xml:lang="en-US" id="id_14036987_3480155_2_1">Timberland companies [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TimberlandCompaniesMember" xlink:to="mfc_TimberlandCompaniesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TimberlandInvestmentMember" xlink:label="mfc_TimberlandInvestmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TimberlandInvestmentMember_lbl" xml:lang="en-US" id="id_14036987_3480135_3_1">Timberland investment [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TimberlandInvestmentMember_lbl" xml:lang="en-US" id="id_14036987_3480135_1_1">Timberland investment [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TimberlandInvestmentMember_lbl" xml:lang="en-US" id="id_14036987_3480135_2_1">Timberland Investment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TimberlandInvestmentMember" xlink:to="mfc_TimberlandInvestmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TopOfRangeMember_lbl" xml:lang="en-US" id="id_14036987_3423353_1_1">Top of range [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TopOfRangeMember_lbl" xml:lang="en-US" id="id_14036987_3423353_2_1">Top of range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US" id="id_14036987_3423057_1_1">Trading Symbol</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US" id="id_14036987_3423057_2_1">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TransactionProcessingAdministrationAndServiceFeesMember" xlink:label="mfc_TransactionProcessingAdministrationAndServiceFeesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TransactionProcessingAdministrationAndServiceFeesMember_lbl" xml:lang="en-US" id="id_14036987_3536734_3_1">Transaction processing, administration, and service fees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TransactionProcessingAdministrationAndServiceFeesMember_lbl" xml:lang="en-US" id="id_14036987_3536734_1_1">Transaction processing, administration, and service fees [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TransactionProcessingAdministrationAndServiceFeesMember_lbl" xml:lang="en-US" id="id_14036987_3536734_2_1">Transaction processing, administration, and service fees [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TransactionProcessingAdministrationAndServiceFeesMember" xlink:to="mfc_TransactionProcessingAdministrationAndServiceFeesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets_lbl" xml:lang="en-US" id="id_14036987_3423367_1_1">Transfers into Level 3 of fair value hierarchy, assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets_lbl" xml:lang="en-US" id="id_14036987_3423367_2_1">Transfer into Level 3</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets" xlink:to="ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities" xlink:label="mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities_lbl" xml:lang="en-US" id="id_14036987_3437361_3_1">Transfers Into Level 3 Of Fair Value Hierarchy Financial Assets And Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities_lbl" xml:lang="en-US" id="id_14036987_3437361_1_1">Transfers Into Level 3 Of Fair Value Hierarchy Financial Assets And Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities_lbl" xml:lang="en-US" id="id_14036987_3437361_14_1">Into Level 3</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities" xlink:to="mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets_lbl" xml:lang="en-US" id="id_14036987_3423369_1_1">Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets_lbl" xml:lang="en-US" id="id_14036987_3423369_2_1">Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets" xlink:to="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets_lbl" xml:lang="en-US" id="id_14036987_3424444_1_1">Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets_lbl" xml:lang="en-US" id="id_14036987_3424444_2_1">Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets" xlink:to="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets_lbl" xml:lang="en-US" id="id_14036987_3424023_1_1">Transfers out of Level 3 of fair value hierarchy, assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets_lbl" xml:lang="en-US" id="id_14036987_3424023_14_1">Transfer out of Level 3</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets" xlink:to="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities" xlink:label="mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities_lbl" xml:lang="en-US" id="id_14036987_3437362_3_1">Transfers Out Of Level 3 Of Fair Value Hierarchy Financial Assets And Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities_lbl" xml:lang="en-US" id="id_14036987_3437362_1_1">Transfers Out Of Level 3 Of Fair Value Hierarchy Financial Assets And Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities_lbl" xml:lang="en-US" id="id_14036987_3437362_2_1">Out of Level 3</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities" xlink:to="mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TwentyPercentageChangeInMarketValueOfEquityMember" xlink:label="mfc_TwentyPercentageChangeInMarketValueOfEquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TwentyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489463_3_1">20% change in market value equity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TwentyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489463_1_1">Twenty Percentage Change in Market Value of Equity [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TwentyPercentageChangeInMarketValueOfEquityMember_lbl" xml:lang="en-US" id="id_14036987_3489463_2_1">20% [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TwentyPercentageChangeInMarketValueOfEquityMember" xlink:to="mfc_TwentyPercentageChangeInMarketValueOfEquityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TwoPercentAdverseChangeInFutureMortalityRatesMember" xlink:label="mfc_TwoPercentAdverseChangeInFutureMortalityRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TwoPercentAdverseChangeInFutureMortalityRatesMember_lbl" xml:lang="en-US" id="id_14036987_3479863_3_1">This member stands for two percent adverse change in future mortality rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TwoPercentAdverseChangeInFutureMortalityRatesMember_lbl" xml:lang="en-US" id="id_14036987_3479863_1_1">Two percent adverse change in future mortality rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TwoPercentAdverseChangeInFutureMortalityRatesMember_lbl" xml:lang="en-US" id="id_14036987_3479863_2_1">2% Adverse change in future mortality rates [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TwoPercentAdverseChangeInFutureMortalityRatesMember" xlink:to="mfc_TwoPercentAdverseChangeInFutureMortalityRatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TwoPointEightOneNinePercentageSubordinatedDebenturesMember" xlink:label="mfc_TwoPointEightOneNinePercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TwoPointEightOneNinePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479728_3_1">Two point eight one nine percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TwoPointEightOneNinePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479728_1_1">Two point eight one nine percentage subordinated debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TwoPointEightOneNinePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479728_2_1">2.819% MLI Subordinated debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TwoPointEightOneNinePercentageSubordinatedDebenturesMember" xlink:to="mfc_TwoPointEightOneNinePercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TwoPointEightOneOnePercentageSubordinatedDebenturesMember" xlink:label="mfc_TwoPointEightOneOnePercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TwoPointEightOneOnePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479725_3_1">Two point eight one one percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TwoPointEightOneOnePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479725_1_1">Two point eight one one percentage subordinated debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TwoPointEightOneOnePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479725_2_1">2.811% MLI Subordinated debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TwoPointEightOneOnePercentageSubordinatedDebenturesMember" xlink:to="mfc_TwoPointEightOneOnePercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TwoPointNineTwoSixPercentageSubordinatedDebenturesMember" xlink:label="mfc_TwoPointNineTwoSixPercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TwoPointNineTwoSixPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479727_3_1">Two point nine two six percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TwoPointNineTwoSixPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479727_1_1">Two point nine two six percentage subordinated debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TwoPointNineTwoSixPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479727_2_1">2.926% MLI Subordinated debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TwoPointNineTwoSixPercentageSubordinatedDebenturesMember" xlink:to="mfc_TwoPointNineTwoSixPercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TwoPointOneZeroPercentageSubordinatedDebenturesMember" xlink:label="mfc_TwoPointOneZeroPercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TwoPointOneZeroPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479722_3_1">Two point one zero percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TwoPointOneZeroPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479722_1_1">Two point one zero percentage subordinated debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TwoPointOneZeroPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479722_2_1">2.10% MLI Subordinated debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TwoPointOneZeroPercentageSubordinatedDebenturesMember" xlink:to="mfc_TwoPointOneZeroPercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TwoPointSixFourPercentageSubordinatedDebenturesMember" xlink:label="mfc_TwoPointSixFourPercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TwoPointSixFourPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479724_3_1">Two point six four percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TwoPointSixFourPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479724_1_1">Two point six four percentage subordinated debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TwoPointSixFourPercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479724_2_1">2.64% MLI Subordinated debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TwoPointSixFourPercentageSubordinatedDebenturesMember" xlink:to="mfc_TwoPointSixFourPercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TwoPointThreeEightNinePercentageSubordinatedDebenturesMember" xlink:label="mfc_TwoPointThreeEightNinePercentageSubordinatedDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TwoPointThreeEightNinePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479721_3_1">Two point three eight nine percentage subordinated debentures.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TwoPointThreeEightNinePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479721_1_1">Two point three eight nine percentage subordinated debentures [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TwoPointThreeEightNinePercentageSubordinatedDebenturesMember_lbl" xml:lang="en-US" id="id_14036987_3479721_2_1">2.389% MLI Subordinated debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TwoPointThreeEightNinePercentageSubordinatedDebenturesMember" xlink:to="mfc_TwoPointThreeEightNinePercentageSubordinatedDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TwoThousandThirtyTwoMember" xlink:label="mfc_TwoThousandThirtyTwoMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TwoThousandThirtyTwoMember_lbl" xml:lang="en-US" id="id_14036987_3480406_3_1">Two thousand thirty two [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TwoThousandThirtyTwoMember_lbl" xml:lang="en-US" id="id_14036987_3480406_1_1">Two thousand thirty two [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TwoThousandThirtyTwoMember_lbl" xml:lang="en-US" id="id_14036987_3480406_2_1">2032 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TwoThousandThirtyTwoMember" xlink:to="mfc_TwoThousandThirtyTwoMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TwoThousandTwentySixMember" xlink:label="mfc_TwoThousandTwentySixMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TwoThousandTwentySixMember_lbl" xml:lang="en-US" id="id_14036987_3483589_3_1">Two thousand twenty six [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TwoThousandTwentySixMember_lbl" xml:lang="en-US" id="id_14036987_3483589_1_1">Two thousand twenty six [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TwoThousandTwentySixMember_lbl" xml:lang="en-US" id="id_14036987_3483589_2_1">2026 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TwoThousandTwentySixMember" xlink:to="mfc_TwoThousandTwentySixMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TypesOfFinanceCostOrIncomeAxis" xlink:label="mfc_TypesOfFinanceCostOrIncomeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TypesOfFinanceCostOrIncomeAxis_lbl" xml:lang="en-US" id="id_14036987_3475667_3_1">The axis of a table defines types of finace cost or income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TypesOfFinanceCostOrIncomeAxis_lbl" xml:lang="en-US" id="id_14036987_3475667_1_1">Types of Finance Cost or Income [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TypesOfFinanceCostOrIncomeAxis_lbl" xml:lang="en-US" id="id_14036987_3475667_2_1">Types of Finance Cost or Income [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TypesOfFinanceCostOrIncomeAxis" xlink:to="mfc_TypesOfFinanceCostOrIncomeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_TypesOfFinanceCostOrIncomeDomain" xlink:label="mfc_TypesOfFinanceCostOrIncomeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_TypesOfFinanceCostOrIncomeDomain_lbl" xml:lang="en-US" id="id_14036987_3498458_3_1">The domain member of a table defines types of finace cost or income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_TypesOfFinanceCostOrIncomeDomain_lbl" xml:lang="en-US" id="id_14036987_3498458_1_1">Types of Finance Cost or Income [domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_TypesOfFinanceCostOrIncomeDomain_lbl" xml:lang="en-US" id="id_14036987_3498458_2_1">Types of Finance Cost or Income [domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_TypesOfFinanceCostOrIncomeDomain" xlink:to="mfc_TypesOfFinanceCostOrIncomeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfFinancialAssetsAxis" xlink:label="ifrs-full_TypesOfFinancialAssetsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfFinancialAssetsAxis_lbl" xml:lang="en-US" id="id_14036987_3424453_1_1">Types of financial assets [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfFinancialAssetsAxis_lbl" xml:lang="en-US" id="id_14036987_3424453_2_1">Types of financial assets [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfFinancialAssetsAxis" xlink:to="ifrs-full_TypesOfFinancialAssetsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:label="ifrs-full_TypesOfFinancialLiabilitiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfFinancialLiabilitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3424035_1_1">Types of financial liabilities [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfFinancialLiabilitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3424035_2_1">Types of financial liabilities [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:to="ifrs-full_TypesOfFinancialLiabilitiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfHedgesAxis" xlink:label="ifrs-full_TypesOfHedgesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfHedgesAxis_lbl" xml:lang="en-US" id="id_14036987_3424036_1_1">Types of hedges [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfHedgesAxis_lbl" xml:lang="en-US" id="id_14036987_3424036_2_1">Types of hedges [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_TypesOfHedgesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfHedgesMember" xlink:label="ifrs-full_TypesOfHedgesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfHedgesMember_lbl" xml:lang="en-US" id="id_14036987_3424454_1_1">Hedges [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfHedgesMember_lbl" xml:lang="en-US" id="id_14036987_3424454_2_1">Hedges [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfHedgesMember" xlink:to="ifrs-full_TypesOfHedgesMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfInsuranceContractsAxis_lbl" xml:lang="en-US" id="id_14036987_3423080_1_1">Types of insurance contracts [axis]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xml:lang="en-US" id="id_14036987_3424456_1_1">Types of risks [axis]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xml:lang="en-US" id="id_14036987_3423384_1_1">Risks [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xml:lang="en-US" id="id_14036987_3423384_2_1">Risks [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ifrs-full_TypesOfRisksMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl" xml:lang="en-US" id="id_14036987_3424457_1_1">Types of share-based payment arrangements [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl" xml:lang="en-US" id="id_14036987_3424457_2_1">Types of share-based payment arrangements [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:to="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UnallocatedAmountsMember" xlink:label="ifrs-full_UnallocatedAmountsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnallocatedAmountsMember_lbl" xml:lang="en-US" id="id_14036987_3424042_1_1">Unallocated amounts [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnallocatedAmountsMember_lbl" xml:lang="en-US" id="id_14036987_3424042_2_1">Corporate and other [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnallocatedAmountsMember" xlink:to="ifrs-full_UnallocatedAmountsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UnconsolidatedStructuredEntitiesAxis" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3423391_1_1">Unconsolidated structured entities [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesAxis_lbl" xml:lang="en-US" id="id_14036987_3423391_2_1">Unconsolidated structured entities [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnconsolidatedStructuredEntitiesAxis" xlink:to="ifrs-full_UnconsolidatedStructuredEntitiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityAxis" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityAxis_lbl" xml:lang="en-US" id="id_14036987_3423392_1_1">Unconsolidated structured entities controlled by investment entity [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityAxis_lbl" xml:lang="en-US" id="id_14036987_3423392_2_1">Unconsolidated structured entities controlled by investment entity [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityAxis" xlink:to="ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityMember" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityMember_lbl" xml:lang="en-US" id="id_14036987_3423393_1_1">Unconsolidated structured entities controlled by investment entity [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityMember_lbl" xml:lang="en-US" id="id_14036987_3423393_2_1">Unconsolidated structured entities controlled by investment entity [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityMember" xlink:to="ifrs-full_UnconsolidatedStructuredEntitiesControlledByInvestmentEntityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UnconsolidatedStructuredEntitiesMember" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3424465_1_1">Unconsolidated structured entities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en-US" id="id_14036987_3424465_2_1">Unconsolidated structured entities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnconsolidatedStructuredEntitiesMember" xlink:to="ifrs-full_UnconsolidatedStructuredEntitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UnencumberedAssets" xlink:label="mfc_UnencumberedAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UnencumberedAssets_lbl" xml:lang="en-US" id="id_14036987_3453472_3_1">Unencumbered assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UnencumberedAssets_lbl" xml:lang="en-US" id="id_14036987_3453472_1_1">Unencumbered assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UnencumberedAssets_lbl" xml:lang="en-US" id="id_14036987_3453472_2_1">Total unencumbered assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UnencumberedAssets" xlink:to="mfc_UnencumberedAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UninsuredMember" xlink:label="mfc_UninsuredMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UninsuredMember_lbl" xml:lang="en-US" id="id_14036987_3479707_3_1">Uninsured.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UninsuredMember_lbl" xml:lang="en-US" id="id_14036987_3479707_1_1">Uninsured [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UninsuredMember_lbl" xml:lang="en-US" id="id_14036987_3479707_2_1">Uninsured [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UninsuredMember" xlink:to="mfc_UninsuredMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UnitedStatesGovernmentAndAgenciesMember" xlink:label="mfc_UnitedStatesGovernmentAndAgenciesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UnitedStatesGovernmentAndAgenciesMember_lbl" xml:lang="en-US" id="id_14036987_3478994_3_1">U.S. government and agency.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UnitedStatesGovernmentAndAgenciesMember_lbl" xml:lang="en-US" id="id_14036987_3478994_1_1">United States Government and Agencies [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UnitedStatesGovernmentAndAgenciesMember_lbl" xml:lang="en-US" id="id_14036987_3478994_2_1">U.S. government and agency [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UnitedStatesGovernmentAndAgenciesMember" xlink:to="mfc_UnitedStatesGovernmentAndAgenciesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome" xlink:label="mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3529805_3_1">Unrealized and realized gains (losses) on investment income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3529805_1_1">Unrealized and realized gains losses on investment income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome_lbl" xml:lang="en-US" id="id_14036987_3529805_2_1">Realized and unrealized gains (losses) on assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome" xlink:to="mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UnsecuredRevolvingCreditFacilityMember" xlink:label="mfc_UnsecuredRevolvingCreditFacilityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UnsecuredRevolvingCreditFacilityMember_lbl" xml:lang="en-US" id="id_14036987_3501582_3_1">Unsecured revolving credit facility.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UnsecuredRevolvingCreditFacilityMember_lbl" xml:lang="en-US" id="id_14036987_3501582_1_1">Unsecured revolving credit facility [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UnsecuredRevolvingCreditFacilityMember_lbl" xml:lang="en-US" id="id_14036987_3501582_2_1">Unsecured revolving credit facility [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UnsecuredRevolvingCreditFacilityMember" xlink:to="mfc_UnsecuredRevolvingCreditFacilityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UnusedTaxCreditsForWhichDeferredTaxAssetRecognised" xlink:label="mfc_UnusedTaxCreditsForWhichDeferredTaxAssetRecognised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UnusedTaxCreditsForWhichDeferredTaxAssetRecognised_lbl" xml:lang="en-US" id="id_14036987_3446663_3_1">Unused tax credits for which deferred tax asset recognised.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UnusedTaxCreditsForWhichDeferredTaxAssetRecognised_lbl" xml:lang="en-US" id="id_14036987_3446663_1_1">Unused tax credits for which deferred tax asset recognised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UnusedTaxCreditsForWhichDeferredTaxAssetRecognised_lbl" xml:lang="en-US" id="id_14036987_3446663_2_1">Tax benefit on loss carry forwards for which deferred tax asset recognized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UnusedTaxCreditsForWhichDeferredTaxAssetRecognised" xlink:to="mfc_UnusedTaxCreditsForWhichDeferredTaxAssetRecognised_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" xlink:label="ifrs-full_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised_lbl" xml:lang="en-US" id="id_14036987_3424052_1_1">Unused tax credits for which no deferred tax asset recognised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised_lbl" xml:lang="en-US" id="id_14036987_3424052_2_1">Tax credit carryforwards of which benefit not recognized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" xlink:to="ifrs-full_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UnusedTaxCreditsMember" xlink:label="ifrs-full_UnusedTaxCreditsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnusedTaxCreditsMember_lbl" xml:lang="en-US" id="id_14036987_3424473_1_1">Unused tax credits [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnusedTaxCreditsMember_lbl" xml:lang="en-US" id="id_14036987_3424473_2_1">Tax credits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnusedTaxCreditsMember" xlink:to="ifrs-full_UnusedTaxCreditsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:label="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised_lbl" xml:lang="en-US" id="id_14036987_3423097_1_1">Unused tax losses for which no deferred tax asset recognised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised_lbl" xml:lang="en-US" id="id_14036987_3423097_2_1">Tax benefit of loss carry forwards for which no deferred tax asset recognized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:to="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UnusedTaxLossesMember" xlink:label="ifrs-full_UnusedTaxLossesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnusedTaxLossesMember_lbl" xml:lang="en-US" id="id_14036987_3424053_1_1">Unused tax losses [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnusedTaxLossesMember_lbl" xml:lang="en-US" id="id_14036987_3424053_2_1">Loss carry forwards [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnusedTaxLossesMember" xlink:to="ifrs-full_UnusedTaxLossesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_US" xlink:label="country_US"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_US_lbl" xml:lang="en-US" id="id_14036987_3424474_1_1">UNITED STATES</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_US_lbl" xml:lang="en-US" id="id_14036987_3424474_2_1">U.S. [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="country_US_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_USAndCanadaMember" xlink:label="mfc_USAndCanadaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_USAndCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3479975_3_1">US and Canada.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_USAndCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3479975_1_1">US and Canada [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_USAndCanadaMember_lbl" xml:lang="en-US" id="id_14036987_3479975_2_1">US and Canada [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_USAndCanadaMember" xlink:to="mfc_USAndCanadaMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_USBanksMember" xlink:label="mfc_USBanksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_USBanksMember_lbl" xml:lang="en-US" id="id_14036987_3489490_3_1">US Banks.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_USBanksMember_lbl" xml:lang="en-US" id="id_14036987_3489490_1_1">US Banks [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_USBanksMember_lbl" xml:lang="en-US" id="id_14036987_3489490_2_1">U.S.banks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_USBanksMember" xlink:to="mfc_USBanksMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UsDivisionMember" xlink:label="mfc_UsDivisionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UsDivisionMember_lbl" xml:lang="en-US" id="id_14036987_3480220_3_1">Us Division.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UsDivisionMember_lbl" xml:lang="en-US" id="id_14036987_3480220_1_1">Us Division [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UsDivisionMember_lbl" xml:lang="en-US" id="id_14036987_3480220_2_1">US Division [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UsDivisionMember" xlink:to="mfc_UsDivisionMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UsFixedAnnuityProductsMember" xlink:label="mfc_UsFixedAnnuityProductsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UsFixedAnnuityProductsMember_lbl" xml:lang="en-US" id="id_14036987_3479014_3_1">U.S. fixed annuity products.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UsFixedAnnuityProductsMember_lbl" xml:lang="en-US" id="id_14036987_3479014_1_1">Us fixed annuity products [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UsFixedAnnuityProductsMember_lbl" xml:lang="en-US" id="id_14036987_3479014_2_1">U.S. fixed annuity products [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UsFixedAnnuityProductsMember" xlink:to="mfc_UsFixedAnnuityProductsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_USGovernmentAndAgencyMember" xlink:label="mfc_USGovernmentAndAgencyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_USGovernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3480118_3_1">U.S. government and agency [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_USGovernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3480118_1_1">U.S. government and agency [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_USGovernmentAndAgencyMember_lbl" xml:lang="en-US" id="id_14036987_3480118_2_1">U.S. government and agency [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_USGovernmentAndAgencyMember" xlink:to="mfc_USGovernmentAndAgencyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UsInsuranceMember" xlink:label="mfc_UsInsuranceMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UsInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3541801_3_1">US insurance.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UsInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3541801_1_1">US insurance [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UsInsuranceMember_lbl" xml:lang="en-US" id="id_14036987_3541801_2_1">US insurance [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UsInsuranceMember" xlink:to="mfc_UsInsuranceMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UsPlansMember" xlink:label="mfc_UsPlansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UsPlansMember_lbl" xml:lang="en-US" id="id_14036987_3480177_3_1">Us plans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UsPlansMember_lbl" xml:lang="en-US" id="id_14036987_3480177_1_1">Us plans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UsPlansMember_lbl" xml:lang="en-US" id="id_14036987_3480177_2_1">U.S. plans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UsPlansMember" xlink:to="mfc_UsPlansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_USWealthAndAssetManagementMember" xlink:label="mfc_USWealthAndAssetManagementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_USWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3541807_3_1">US wealth and asset management.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_USWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3541807_1_1">US wealth and asset management [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_USWealthAndAssetManagementMember_lbl" xml:lang="en-US" id="id_14036987_3541807_2_1">US wealth and asset management [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_USWealthAndAssetManagementMember" xlink:to="mfc_USWealthAndAssetManagementMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_UtilitiesMember" xlink:label="mfc_UtilitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_UtilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479681_3_1">Utilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_UtilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479681_1_1">Utilities [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_UtilitiesMember_lbl" xml:lang="en-US" id="id_14036987_3479681_2_1">Utilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_UtilitiesMember" xlink:to="mfc_UtilitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ValuationTechniquesMember" xlink:label="ifrs-full_ValuationTechniquesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ValuationTechniquesMember_lbl" xml:lang="en-US" id="id_14036987_3423403_1_1">Valuation techniques [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ValuationTechniquesMember_lbl" xml:lang="en-US" id="id_14036987_3423403_2_1">Valuation techniques [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ValuationTechniquesMember" xlink:to="ifrs-full_ValuationTechniquesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:label="ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis_lbl" xml:lang="en-US" id="id_14036987_3423404_1_1">Valuation techniques used in fair value measurement [axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis_lbl" xml:lang="en-US" id="id_14036987_3423404_2_1">Valuation techniques used in fair value measurement [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:to="ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceLineItems" xlink:label="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceLineItems_lbl" xml:lang="en-US" id="id_14036987_3427188_3_1">Variable annuity and segregated fund guarantees net of reinsurance.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceLineItems_lbl" xml:lang="en-US" id="id_14036987_3427188_1_1">Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [line items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceLineItems_lbl" xml:lang="en-US" id="id_14036987_3427188_2_1">Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceLineItems" xlink:to="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceTable" xlink:label="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceTable_lbl" xml:lang="en-US" id="id_14036987_3474934_3_1">Variable annuity and segregated fund guarantees, net of reinsurance [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceTable_lbl" xml:lang="en-US" id="id_14036987_3474934_1_1">Variable annuity and segregated fund guarantees, net of reinsurance [table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceTable_lbl" xml:lang="en-US" id="id_14036987_3474934_2_1">Variable annuity and segregated fund guarantees, net of reinsurance [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceTable" xlink:to="mfc_VariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceTable_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember" xlink:label="mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember_lbl" xml:lang="en-US" id="id_14036987_3479693_3_1">Variable annuity guarantee dynamic hedging and macro equity risk hedging programs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember_lbl" xml:lang="en-US" id="id_14036987_3479693_1_1">Variable annuity guarantee dynamic hedging and macro equity risk hedging programs [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember_lbl" xml:lang="en-US" id="id_14036987_3479693_2_1">Variable annuity guarantee dynamic hedging and macro equity risk hedging programs [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember" xlink:to="mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy" xlink:label="mfc_VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3529234_3_1">Percentage of variable annuity guarantee dynamic hedging risk management strategy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3529234_1_1">Variable Annuity Guarantee Dynamic Hedging Risk Management Strategy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy_lbl" xml:lang="en-US" id="id_14036987_3529234_2_1">Variable annuity guarantee dynamic hedging</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy" xlink:to="mfc_VariableAnnuityGuaranteeDynamicHedgingRiskManagementStrategy_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_VariableAnnuityGuaranteeLiabilitiesRebalancedBasisPointIntervals" xlink:label="mfc_VariableAnnuityGuaranteeLiabilitiesRebalancedBasisPointIntervals"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_VariableAnnuityGuaranteeLiabilitiesRebalancedBasisPointIntervals_lbl" xml:lang="en-US" id="id_14036987_3526494_3_1">Variable annuity guarantee liabilities, rebalanced basis point intervals.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_VariableAnnuityGuaranteeLiabilitiesRebalancedBasisPointIntervals_lbl" xml:lang="en-US" id="id_14036987_3526494_1_1">Variable annuity guarantee liabilities, rebalanced basis point intervals</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_VariableAnnuityGuaranteeLiabilitiesRebalancedBasisPointIntervals_lbl" xml:lang="en-US" id="id_14036987_3526494_2_1">Variable annuity guarantee liabilities, rebalanced basis point intervals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_VariableAnnuityGuaranteeLiabilitiesRebalancedBasisPointIntervals" xlink:to="mfc_VariableAnnuityGuaranteeLiabilitiesRebalancedBasisPointIntervals_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_VariableFundingSurplusNoteMember" xlink:label="mfc_VariableFundingSurplusNoteMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_VariableFundingSurplusNoteMember_lbl" xml:lang="en-US" id="id_14036987_3478586_3_1">Variable Funding Surplus Note [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_VariableFundingSurplusNoteMember_lbl" xml:lang="en-US" id="id_14036987_3478586_1_1">Variable Funding Surplus Note [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_VariableFundingSurplusNoteMember_lbl" xml:lang="en-US" id="id_14036987_3478586_2_1">Variable Funding Surplus Note [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_VariableFundingSurplusNoteMember" xlink:to="mfc_VariableFundingSurplusNoteMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_VariableSurplusNoteMember" xlink:label="mfc_VariableSurplusNoteMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_VariableSurplusNoteMember_lbl" xml:lang="en-US" id="id_14036987_3494901_3_1">Variable surplus note.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_VariableSurplusNoteMember_lbl" xml:lang="en-US" id="id_14036987_3494901_1_1">Variable Surplus Note [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_VariableSurplusNoteMember_lbl" xml:lang="en-US" id="id_14036987_3494901_2_1">Variable Surplus Note [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_VariableSurplusNoteMember" xlink:to="mfc_VariableSurplusNoteMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_VariousOtherInvestedAssetsMember" xlink:label="mfc_VariousOtherInvestedAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_VariousOtherInvestedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479639_3_1">Various other invested assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_VariousOtherInvestedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479639_1_1">Various other invested assets [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_VariousOtherInvestedAssetsMember_lbl" xml:lang="en-US" id="id_14036987_3479639_2_1">Various other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_VariousOtherInvestedAssetsMember" xlink:to="mfc_VariousOtherInvestedAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageDurationOfDefinedBenefitObligation" xlink:label="ifrs-full_WeightedAverageDurationOfDefinedBenefitObligation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageDurationOfDefinedBenefitObligation_lbl" xml:lang="en-US" id="id_14036987_3423778_1_1">Weighted average duration of defined benefit obligation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageDurationOfDefinedBenefitObligation_lbl" xml:lang="en-US" id="id_14036987_3423778_2_1">Weighted average duration (in years) of the defined benefit obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageDurationOfDefinedBenefitObligation" xlink:to="ifrs-full_WeightedAverageDurationOfDefinedBenefitObligation_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3423780_1_1">Weighted average exercise price of share options exercisable in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3423780_2_1">Weighted average exercise price, Exercisable, Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3423780_12_1">Weighted average exercise price, Options exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3423781_1_1">Weighted average exercise price of share options exercised in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3423781_2_1">Weighted average exercise price, Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3424494_1_1">Weighted average exercise price of share options expired in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3424494_2_1">Weighted average exercise price, Expired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3424495_1_1">Weighted average exercise price of share options forfeited in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3424495_2_1">Weighted average exercise price, Forfeited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3424073_1_1">Weighted average exercise price of share options granted in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3424073_2_1">Weighted average exercise price, Granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3424496_1_1">Weighted average exercise price of share options outstanding in share-based payment arrangement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3424496_4_1">Weighted average exercise price, Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3424496_5_1">Weighted average exercise price, Beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement_lbl" xml:lang="en-US" id="id_14036987_3424496_2_1">Weighted average exercise price, Options outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted_lbl" xml:lang="en-US" id="id_14036987_3424497_1_1">Weighted average fair value at measurement date, share options granted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted_lbl" xml:lang="en-US" id="id_14036987_3424497_2_1">Weighted average fair value of options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" xlink:to="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_WeightedAverageMaturityTerm" xlink:label="mfc_WeightedAverageMaturityTerm"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_WeightedAverageMaturityTerm_lbl" xml:lang="en-US" id="id_14036987_3472744_3_1">Weighted average maturity term.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_WeightedAverageMaturityTerm_lbl" xml:lang="en-US" id="id_14036987_3472744_1_1">Weighted average maturity term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_WeightedAverageMaturityTerm_lbl" xml:lang="en-US" id="id_14036987_3472744_2_1">Weighted average maturity (in years)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_WeightedAverageMaturityTerm" xlink:to="mfc_WeightedAverageMaturityTerm_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_WeightedAverageRemainingContractualLifeOfExercisableShareOptions" xlink:label="mfc_WeightedAverageRemainingContractualLifeOfExercisableShareOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_WeightedAverageRemainingContractualLifeOfExercisableShareOptions_lbl" xml:lang="en-US" id="id_14036987_3432792_3_1">Weighted average remaining contractual life of exercisable share options.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_WeightedAverageRemainingContractualLifeOfExercisableShareOptions_lbl" xml:lang="en-US" id="id_14036987_3432792_1_1">Weighted average remaining contractual life of exercisable share options</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_WeightedAverageRemainingContractualLifeOfExercisableShareOptions_lbl" xml:lang="en-US" id="id_14036987_3432792_2_1">Weighted average remaining contractual life (in years), Options exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_WeightedAverageRemainingContractualLifeOfExercisableShareOptions" xlink:to="mfc_WeightedAverageRemainingContractualLifeOfExercisableShareOptions_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions_lbl" xml:lang="en-US" id="id_14036987_3423783_1_1">Weighted average remaining contractual life of outstanding share options</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions_lbl" xml:lang="en-US" id="id_14036987_3423783_2_1">Weighted average remaining contractual life (in years)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xlink:to="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageShares" xlink:label="ifrs-full_WeightedAverageShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageShares_lbl" xml:lang="en-US" id="id_14036987_3423785_1_1">Weighted average number of ordinary shares outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageShares_lbl" xml:lang="en-US" id="id_14036987_3423785_2_1">Weighted average number of common shares (in millions)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageShares" xlink:to="ifrs-full_WeightedAverageShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WhollyOrPartlyFundedDefinedBenefitPlansMember" xlink:label="ifrs-full_WhollyOrPartlyFundedDefinedBenefitPlansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WhollyOrPartlyFundedDefinedBenefitPlansMember_lbl" xml:lang="en-US" id="id_14036987_3424500_1_1">Wholly or partly funded defined benefit plans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WhollyOrPartlyFundedDefinedBenefitPlansMember_lbl" xml:lang="en-US" id="id_14036987_3424500_2_1">Funded [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WhollyOrPartlyFundedDefinedBenefitPlansMember" xlink:to="ifrs-full_WhollyOrPartlyFundedDefinedBenefitPlansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WhollyUnfundedDefinedBenefitPlansMember" xlink:label="ifrs-full_WhollyUnfundedDefinedBenefitPlansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WhollyUnfundedDefinedBenefitPlansMember_lbl" xml:lang="en-US" id="id_14036987_3423788_1_1">Wholly unfunded defined benefit plans [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WhollyUnfundedDefinedBenefitPlansMember_lbl" xml:lang="en-US" id="id_14036987_3423788_2_1">Unfunded [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WhollyUnfundedDefinedBenefitPlansMember" xlink:to="ifrs-full_WhollyUnfundedDefinedBenefitPlansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ZeroPointFivePercentageDecreaseInInterestRatesMember" xlink:label="mfc_ZeroPointFivePercentageDecreaseInInterestRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ZeroPointFivePercentageDecreaseInInterestRatesMember_lbl" xml:lang="en-US" id="id_14036987_3476170_3_1">Zero point five percentage decrease in interest rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ZeroPointFivePercentageDecreaseInInterestRatesMember_lbl" xml:lang="en-US" id="id_14036987_3476170_1_1">Zero Point Five Percentage Decrease in Interest Rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ZeroPointFivePercentageDecreaseInInterestRatesMember_lbl" xml:lang="en-US" id="id_14036987_3476170_2_1">50 basis point decrease in interest [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ZeroPointFivePercentageDecreaseInInterestRatesMember" xlink:to="mfc_ZeroPointFivePercentageDecreaseInInterestRatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mfc-20181231.xsd#mfc_ZeroPointFivePercentageIncreaseInInterestRatesMember" xlink:label="mfc_ZeroPointFivePercentageIncreaseInInterestRatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mfc_ZeroPointFivePercentageIncreaseInInterestRatesMember_lbl" xml:lang="en-US" id="id_14036987_3476171_3_1">Zero point five percentage increase in interest rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mfc_ZeroPointFivePercentageIncreaseInInterestRatesMember_lbl" xml:lang="en-US" id="id_14036987_3476171_1_1">Zero Point Five Percentage Increase in Interest Rates [member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mfc_ZeroPointFivePercentageIncreaseInInterestRatesMember_lbl" xml:lang="en-US" id="id_14036987_3476171_2_1">50 basis point increase in interest [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mfc_ZeroPointFivePercentageIncreaseInInterestRatesMember" xlink:to="mfc_ZeroPointFivePercentageIncreaseInInterestRatesMember_lbl"/>
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</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>16
<FILENAME>mfc-20181231_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- DFS Xcelerate Taxonomy Presentation Linkbase - http://www.dfsco.com/financial-services/ -->
<!-- Version: 6.23.6 -->
<!-- Round: 7 -->
<!-- Creation date: 2019-02-13T00:07:22Z -->
<!-- Copyright (c) 2017 Donnelley Financial, LLC. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872054368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2018 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">40-F<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2018<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2018<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">MFC<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">MANULIFE FINANCIAL CORP<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001086888<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">1,971,002,948<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassASharesSeriesTwoMember', window );">Class A Shares Series 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">14,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassASharesSeriesThreeMember', window );">Class A Shares Series 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">12,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesThreeMember', window );">Class 1 Shares Series 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">6,335,831<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesFourMember', window );">Class 1 Shares Series 4 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">1,664,169<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesFiveMember', window );">Class 1 Shares Series 5 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">8,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesSevenMember', window );">Class 1 Shares Series 7 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">10,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesNineMember', window );">Class 1 Shares Series 9 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">10,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesElevenMember', window );">Class 1 Shares Series 11 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">8,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesThirteenMember', window );">Class 1 Shares Series 13 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">8,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesFifteenMember', window );">Class 1 Shares Series 15 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">8,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesSeventeenMember', window );">Class 1 Shares Series 17 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">14,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesNineteenMember', window );">Class 1 Shares Series 19 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">10,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesTwentyOneMember', window );">Class 1 Shares Series 21 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">17,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesTwentyThreeMember', window );">Class 1 Shares Series 23 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">19,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesTwentyFiveMember', window );">Class 1 Shares Series 25 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">10,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassASharesSeriesTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassASharesSeriesTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassASharesSeriesThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassASharesSeriesThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesFiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesSevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesSevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesNineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesNineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesElevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesElevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesThirteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesThirteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesFifteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesFifteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesSeventeenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesSeventeenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesNineteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesNineteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesTwentyOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesTwentyOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesTwentyThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesTwentyThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=mfc_ClassOneSharesSeriesTwentyFiveMember">
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872504368">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Financial Position - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">$ 16,215<span></span>
</td>
<td class="nump">$ 15,965<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">185,594<span></span>
</td>
<td class="nump">174,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">19,179<span></span>
</td>
<td class="nump">21,545<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_Mortgages', window );">Mortgages</a></td>
<td class="nump">48,363<span></span>
</td>
<td class="nump">44,742<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PrivatePlacements', window );">Private placements</a></td>
<td class="nump">35,754<span></span>
</td>
<td class="nump">32,132<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsForRiskOfPolicyholders', window );">Policy loans</a></td>
<td class="nump">6,446<span></span>
</td>
<td class="nump">5,808<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans to bank clients</a></td>
<td class="nump">1,793<span></span>
</td>
<td class="nump">1,737<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate</a></td>
<td class="nump">12,777<span></span>
</td>
<td class="nump">13,810<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">27,543<span></span>
</td>
<td class="nump">24,483<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Total invested assets (note 3)</a></td>
<td class="nump">353,664<span></span>
</td>
<td class="nump">334,222<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherAssets1Abstract', window );"><strong>Other assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AccruedIncome', window );">Accrued investment income</a></td>
<td class="nump">2,427<span></span>
</td>
<td class="nump">2,182<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OutstandingPremiums', window );">Outstanding premiums</a></td>
<td class="nump">1,369<span></span>
</td>
<td class="nump">1,148<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivatives (note 4)</a></td>
<td class="nump">13,703<span></span>
</td>
<td class="nump">15,569<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReinsuranceAssets', window );">Reinsurance assets (notes 7 and 8)</a></td>
<td class="nump">43,053<span></span>
</td>
<td class="nump">30,359<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets (note 5)</a></td>
<td class="nump">4,318<span></span>
</td>
<td class="nump">4,569<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Goodwill and intangible assets (note 6)</a></td>
<td class="nump">10,097<span></span>
</td>
<td class="nump">9,840<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_MiscellaneousOtherAssets', window );">Miscellaneous</a></td>
<td class="nump">8,431<span></span>
</td>
<td class="nump">7,337<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherAssets', window );">Total other assets</a></td>
<td class="nump">83,398<span></span>
</td>
<td class="nump">71,004<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SegregatedFundsNetAssetsHeldByPolicyholders', window );">Segregated funds net assets (note 22)</a></td>
<td class="nump">313,209<span></span>
</td>
<td class="nump">324,307<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">750,271<span></span>
</td>
<td class="nump">729,533<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Insurance contract liabilities (note 7)</a></td>
<td class="nump">328,654<span></span>
</td>
<td class="nump">304,605<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentContractsLiabilities', window );">Investment contract liabilities (note 8)</a></td>
<td class="nump">3,265<span></span>
</td>
<td class="nump">3,126<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from bank clients</a></td>
<td class="nump">19,684<span></span>
</td>
<td class="nump">18,131<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivatives (note 4)</a></td>
<td class="nump">7,803<span></span>
</td>
<td class="nump">7,822<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities (note 5)</a></td>
<td class="nump">1,814<span></span>
</td>
<td class="nump">1,281<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherFinancialLiabilities', window );">Other liabilities</a></td>
<td class="nump">15,190<span></span>
</td>
<td class="nump">14,927<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FinancialLiabilitiesBeforeLongTermDebtCapitalInstrumentsAndSegregatedFunds', window );">Financial liabilities</a></td>
<td class="nump">376,410<span></span>
</td>
<td class="nump">349,892<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debt (note 10)</a></td>
<td class="nump">4,769<span></span>
</td>
<td class="nump">4,784<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Capital instruments (note 11)</a></td>
<td class="nump">8,732<span></span>
</td>
<td class="nump">8,387<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SegregatedFundsNetLiabilities', window );">Segregated funds net liabilities (note 22)</a></td>
<td class="nump">313,209<span></span>
</td>
<td class="nump">324,307<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="nump">703,120<span></span>
</td>
<td class="nump">687,370<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalPaidinCapital', window );">Contributed surplus</a></td>
<td class="nump">265<span></span>
</td>
<td class="nump">277<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Shareholders' retained earnings</a></td>
<td class="nump">12,704<span></span>
</td>
<td class="nump">10,083<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReservesAbstract', window );"><strong>Shareholders' accumulated other comprehensive income (loss):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlans', window );">Pension and other post-employment plans</a></td>
<td class="num">(426)<span></span>
</td>
<td class="num">(364)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets', window );">Available-for-sale securities</a></td>
<td class="num">(265)<span></span>
</td>
<td class="nump">179<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="num">(127)<span></span>
</td>
<td class="num">(109)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevaluationSurplus', window );">Real estate revaluation surplus</a></td>
<td class="nump">20<span></span>
</td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation', window );">Translation of foreign operations</a></td>
<td class="nump">7,010<span></span>
</td>
<td class="nump">4,360<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Total shareholders' equity</a></td>
<td class="nump">45,964<span></span>
</td>
<td class="nump">41,013<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ParticipatingPolicyholdersEquity', window );">Participating policyholders' equity</a></td>
<td class="nump">94<span></span>
</td>
<td class="nump">221<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">1,093<span></span>
</td>
<td class="nump">929<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="nump">47,151<span></span>
</td>
<td class="nump">42,163<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities and equity</a></td>
<td class="nump">750,271<span></span>
</td>
<td class="nump">729,533<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Issued shares (note 12)</a></td>
<td class="nump">3,822<span></span>
</td>
<td class="nump">3,577<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReservesAbstract', window );"><strong>Shareholders' accumulated other comprehensive income (loss):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="nump">3,822<span></span>
</td>
<td class="nump">3,577<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Issued shares (note 12)</a></td>
<td class="nump">22,961<span></span>
</td>
<td class="nump">22,989<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReservesAbstract', window );"><strong>Shareholders' accumulated other comprehensive income (loss):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="nump">$ 22,961<span></span>
</td>
<td class="nump">$ 22,989<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AccruedIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of asset representing income that has been earned but is not yet received.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AccruedIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalPaidinCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount received or receivable from the issuance of the entity's shares in excess of nominal value and amounts received from other transactions involving the entity's stock or stockholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalPaidinCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments representing indebtedness held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments issued by the entity that represent indebtedness.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from customers held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph r<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments held by the entity that provide evidence of a residual interest in the assets of another entity after deducting all of its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentContractsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities relating to investment contracts that fall within the scope of IAS 39 or IFRS 9.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentContractsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2019-01-01: The amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.
Effective 2019-01-01: The amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee as a right-of-use asset) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2018-01-01<br> -Paragraph 76<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2018-03-01&amp;anchor=para_76&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2018-03-01&amp;anchor=para_79_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsForRiskOfPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments against insurance liabilities where all risk is borne by the policyholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsForRiskOfPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG20_a&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG37_a&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-02&amp;anchor=para_55&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 12<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph q<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2018-01-01<br> -Paragraph 22<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=10&amp;date=2018-03-01&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph m<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_m&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherReservesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherReservesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReinsuranceAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of a cedant&#8217;s net contractual rights under a reinsurance contract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReinsuranceAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReserveOfCashFlowHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the accumulated portion of gain (loss) on a hedging instrument that is determined to be an effective hedge for cash flow hedges. [Refer: Cash flow hedges [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 9<br> -IssueDate 2018-01-01<br> -Paragraph 6.5.11<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=9&amp;date=2018-03-01&amp;anchor=para_6.5.11&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReserveOfCashFlowHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing exchange differences on translation of financial statements of foreign operations recognised in other comprehensive income and accumulated in equity. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2018-01-01<br> -Paragraph 52<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=21&amp;date=2018-03-01&amp;anchor=para_52_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReserveOfExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing accumulated gains and losses on remeasuring available-for-sale financial assets. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_78_e&amp;doctype=Standard&amp;book=b_pdf<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the accumulated remeasurements of defined benefit plans. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RetainedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the entity's cumulative undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RetainedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevaluationSurplus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the accumulated revaluation surplus on the revaluation of assets recognised in other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 39<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevaluationSurplus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_FinancialLiabilitiesBeforeLongTermDebtCapitalInstrumentsAndSegregatedFunds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial Liabilities before long term debt,capital instruments and segregated funds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_FinancialLiabilitiesBeforeLongTermDebtCapitalInstrumentsAndSegregatedFunds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Invested assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_MiscellaneousOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Miscellaneous other assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_MiscellaneousOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_Mortgages">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Mortgages.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_Mortgages</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OtherAssets1Abstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OtherAssets1Abstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OtherInvestedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other invested assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OtherInvestedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OutstandingPremiums">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Outstanding Premiums</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OutstandingPremiums</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ParticipatingPolicyholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Participating policyholders equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ParticipatingPolicyholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_PrivatePlacements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment in private placements of other companies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_PrivatePlacements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_SegregatedFundsNetAssetsHeldByPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Segregated funds net assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_SegregatedFundsNetAssetsHeldByPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_SegregatedFundsNetLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Segregated funds net liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_SegregatedFundsNetLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872318416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Income - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InsurancePremiumIncomeAbstract', window );"><strong>Premium income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromInsuranceContracts', window );">Gross premiums</a></td>
<td class="nump">$ 39,150<span></span>
</td>
<td class="nump">$ 36,361<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PremiumsCededToReinsurers', window );">Premiums ceded to reinsurers</a></td>
<td class="num">(15,138)<span></span>
</td>
<td class="num">(8,151)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetEarnedPremium', window );">Net premiums</a></td>
<td class="nump">24,012<span></span>
</td>
<td class="nump">28,210<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentIncomeLossAbstract', window );"><strong>Investment income (note 3)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">13,560<span></span>
</td>
<td class="nump">13,649<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_RealizedAndUnrealizedGainsLossesOnAssetsSupportingInsuranceAndInvestmentContractLiabilitiesAndOnMacroHedgeProgram', window );">Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on the macro hedge program</a></td>
<td class="num">(9,028)<span></span>
</td>
<td class="nump">5,718<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInvestmentIncomeLoss', window );">Net investment income</a></td>
<td class="nump">4,532<span></span>
</td>
<td class="nump">19,367<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Other revenue (note 14)</a></td>
<td class="nump">10,428<span></span>
</td>
<td class="nump">10,746<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Total revenue</a></td>
<td class="nump">38,972<span></span>
</td>
<td class="nump">58,323<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_BenefitsClaimsAndExpensesAbstract', window );"><strong>Contract benefits and expenses To contract holders and beneficiaries</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InsuranceClaimsAndBenefitsGross', window );">Gross claims and benefits (note 7)</a></td>
<td class="nump">27,878<span></span>
</td>
<td class="nump">24,994<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ChangeInInsuranceContractLiabilities', window );">Increase (decrease) in insurance contract liabilities</a></td>
<td class="nump">2,907<span></span>
</td>
<td class="nump">20,023<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInInvestmentContractLiabilities', window );">Increase (decrease) in investment contract liabilities</a></td>
<td class="nump">35<span></span>
</td>
<td class="nump">173<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_BenefitsAndExpensesCededToReinsurers', window );">Benefits and expenses ceded to reinsurers</a></td>
<td class="num">(5,153)<span></span>
</td>
<td class="num">(8,158)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Decrease (increase) in reinsurance assets (note 7)</a></td>
<td class="num">(9,733)<span></span>
</td>
<td class="nump">2,269<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries', window );">Net benefits and claims</a></td>
<td class="nump">15,934<span></span>
</td>
<td class="nump">39,301<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SellingGeneralAndAdministrativeExpense', window );">General expenses</a></td>
<td class="nump">7,957<span></span>
</td>
<td class="nump">7,233<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentExpenses', window );">Investment expenses (note 3)</a></td>
<td class="nump">1,708<span></span>
</td>
<td class="nump">1,673<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionExpense', window );">Commissions</a></td>
<td class="nump">6,173<span></span>
</td>
<td class="nump">6,116<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );">Interest expense</a></td>
<td class="nump">1,275<span></span>
</td>
<td class="nump">1,139<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsurancePremiumTaxes', window );">Net premium taxes</a></td>
<td class="nump">406<span></span>
</td>
<td class="nump">360<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_BenefitsExpenseArisingFromInsuranceContracts', window );">Total contract benefits and expenses</a></td>
<td class="nump">33,453<span></span>
</td>
<td class="nump">55,822<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income taxes</a></td>
<td class="nump">5,519<span></span>
</td>
<td class="nump">2,501<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax (expense) recovery</a></td>
<td class="num">(632)<span></span>
</td>
<td class="num">(239)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="nump">4,887<span></span>
</td>
<td class="nump">2,262<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToAbstract', window );"><strong>Net income (loss) attributed to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">214<span></span>
</td>
<td class="nump">194<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProfitLossAttributableToParticipatingPolicyholders', window );">Participating policyholders</a></td>
<td class="num">(127)<span></span>
</td>
<td class="num">(36)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Shareholders</a></td>
<td class="nump">4,800<span></span>
</td>
<td class="nump">2,104<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="nump">4,887<span></span>
</td>
<td class="nump">2,262<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Net income attributed to shareholders</a></td>
<td class="nump">4,800<span></span>
</td>
<td class="nump">2,104<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProfitLossAttributableToPreferredShareDividends', window );">Preferred share dividends</a></td>
<td class="num">(168)<span></span>
</td>
<td class="num">(159)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProfitLossAttributableToCommonShareholders', window );">Common shareholders' net income</a></td>
<td class="nump">$ 4,632<span></span>
</td>
<td class="nump">$ 1,945<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Earnings per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic earnings per common share (note 12)</a></td>
<td class="nump">$ 2.34<span></span>
</td>
<td class="nump">$ 0.98<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShare', window );">Diluted earnings per common share (note 12)</a></td>
<td class="nump">2.33<span></span>
</td>
<td class="nump">0.98<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinarySharesPerShare', window );">Dividends per common share</a></td>
<td class="nump">$ 0.91<span></span>
</td>
<td class="nump">$ 0.82<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2018-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2018-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of claims and benefits paid to policyholders, net of reinsurance recoveries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2018-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2018-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidOrdinarySharesPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid per ordinary share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 34<br> -IssueDate 2018-01-01<br> -Paragraph 16A<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=34&amp;date=2018-03-01&amp;anchor=para_16A_f&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidOrdinarySharesPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from insurance contracts. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2018-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2018-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in reinsurance assets. [Refer: Reinsurance assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG37&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInReinsuranceAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investment income, such as interest and dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2018-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2018-03-01&amp;anchor=para_35_b_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetEarnedPremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of premiums earned on insurance contracts net of reinsurance premiums. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetEarnedPremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from sources that the entity does not separately disclose in the same statement or note. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_39L_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2018-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=17&amp;date=2018-03-01&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 12<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2018-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=5&amp;date=2018-03-01&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2018-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=5&amp;date=2018-03-01&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to selling, general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SellingGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_BenefitsAndExpensesCededToReinsurers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Benefits and expenses ceded to reinsurers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_BenefitsAndExpensesCededToReinsurers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_BenefitsClaimsAndExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Benefits claims and expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_BenefitsClaimsAndExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_BenefitsExpenseArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Benefits expense arising from insurance contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_BenefitsExpenseArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ChangeInInsuranceContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Change in insurance contract liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ChangeInInsuranceContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncreaseDecreaseInInvestmentContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase decrease in investment contract liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncreaseDecreaseInInvestmentContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InsuranceClaimsAndBenefitsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance claims and benefits gross.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InsuranceClaimsAndBenefitsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InsurancePremiumIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance premium income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InsurancePremiumIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentIncomeLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment Income Loss [abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentIncomeLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_NetInsurancePremiumTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net insurance premium taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_NetInsurancePremiumTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_NetInvestmentIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net investment income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_NetInvestmentIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_PremiumsCededToReinsurers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Premiums ceded to reinsurers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_PremiumsCededToReinsurers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td>xbrli:monetaryItemType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ProfitLossAttributableToCommonShareholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Profit loss attributable to common shareholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ProfitLossAttributableToCommonShareholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ProfitLossAttributableToParticipatingPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Profit loss attributable to participating policyholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ProfitLossAttributableToParticipatingPolicyholders</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ProfitLossAttributableToPreferredShareDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Profit loss attributable to preferred share dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ProfitLossAttributableToPreferredShareDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_RealizedAndUnrealizedGainsLossesOnAssetsSupportingInsuranceAndInvestmentContractLiabilitiesAndOnMacroHedgeProgram">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on the macro hedge program.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_RealizedAndUnrealizedGainsLossesOnAssetsSupportingInsuranceAndInvestmentContractLiabilitiesAndOnMacroHedgeProgram</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<html>
<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6871798176">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Income - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatementOfComprehensiveIncomeAbstract', window );"><strong>Statement of comprehensive income [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="nump">$ 4,887<span></span>
</td>
<td class="nump">$ 2,262<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExchangeDifferencesOnTranslationAbstract', window );"><strong>Foreign exchange gains (losses) on:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax', window );">Translation of foreign operations</a></td>
<td class="nump">3,078<span></span>
</td>
<td class="num">(2,256)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax', window );">Net investment hedges</a></td>
<td class="num">(428)<span></span>
</td>
<td class="nump">227<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract', window );"><strong>Available-for-sale financial securities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax', window );">Unrealized gains (losses) arising during the year</a></td>
<td class="num">(458)<span></span>
</td>
<td class="nump">601<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax', window );">Reclassification of net realized (gains) losses and impairments to net income</a></td>
<td class="nump">13<span></span>
</td>
<td class="num">(32)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowHedgesAbstract', window );"><strong>Cash flow hedges:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax', window );">Unrealized gains (losses) arising during the year</a></td>
<td class="num">(34)<span></span>
</td>
<td class="nump">110<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax', window );">Reclassification of realized losses to net income</a></td>
<td class="nump">16<span></span>
</td>
<td class="nump">13<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax', window );">Share of other comprehensive income (losses) of associates</a></td>
<td class="num">(1)<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax', window );">Total items that may be subsequently reclassified to net income</a></td>
<td class="nump">2,186<span></span>
</td>
<td class="num">(1,336)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract', window );"><strong>Items that will not be reclassified to net income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Change in pension and other post-employment plans</a></td>
<td class="num">(62)<span></span>
</td>
<td class="nump">53<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Real estate revaluation reserve</a></td>
<td class="num">(1)<span></span>
</td>
<td class="nump">30<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax', window );">Total items that will not be reclassified to net income</a></td>
<td class="num">(63)<span></span>
</td>
<td class="nump">83<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income (loss), net of tax</a></td>
<td class="nump">2,123<span></span>
</td>
<td class="num">(1,253)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss), net of tax</a></td>
<td class="nump">7,010<span></span>
</td>
<td class="nump">1,009<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract', window );"><strong>Total comprehensive income (loss) attributed to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">212<span></span>
</td>
<td class="nump">192<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders', window );">Participating policyholders</a></td>
<td class="num">(127)<span></span>
</td>
<td class="num">(27)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent', window );">Shareholders</a></td>
<td class="nump">6,925<span></span>
</td>
<td class="nump">844<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeAbstract', window );"><strong>Income tax expense (recovery) on:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome', window );">Unrealized foreign exchange gains/losses on translation of foreign operations</a></td>
<td class="nump">1<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome', window );">Unrealized foreign exchange gains/losses on net investment hedges</a></td>
<td class="num">(62)<span></span>
</td>
<td class="nump">48<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome', window );">Unrealized gains/losses on available-for-sale financial securities</a></td>
<td class="num">(151)<span></span>
</td>
<td class="nump">284<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncomeTaxRelatingToReclassificationAdjustmentOnAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome', window );">Reclassification of realized gains/losses and recoveries/impairments to net income on available-for-sale financial securities</a></td>
<td class="nump">26<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome', window );">Unrealized gains/losses on cash flow hedges</a></td>
<td class="nump">31<span></span>
</td>
<td class="nump">49<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncomeTaxRelatingToReclassificationAdjustmentsOnCashFlowHedgesOfOtherComprehensiveIncome', window );">Reclassification of realized gains/losses to net income on cash flow hedges</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome', window );">Change in pension and other post-employment plans</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">37<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome', window );">Real estate revaluation reserve</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Total income tax expense (recovery)</a></td>
<td class="num">$ (146)<span></span>
</td>
<td class="nump">$ 436<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AvailableforsaleFinancialAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowHedgesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowHedgesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to non-controlling interests. [Refer: Comprehensive income; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81B_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to owners of the parent. [Refer: Comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81B_b_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExchangeDifferencesOnTranslationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExchangeDifferencesOnTranslationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on cash flow hedges, net of tax. [Refer: Cash flow hedges [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24C<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24C_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24E<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24E_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_23_c&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of foreign operations, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on hedges of net investments in foreign operations, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 39<br> -IssueDate 2018-01-01<br> -Paragraph 102<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=39&amp;date=2018-03-01&amp;anchor=para_102_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24C<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24C_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24E<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24E_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 9<br> -IssueDate 2018-01-01<br> -Paragraph 6.5.13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=9&amp;date=2018-03-01&amp;anchor=para_6.5.13_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on remeasuring available-for-sale financial assets, net of tax. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_91_a&amp;doctype=Standard&amp;book=b_pdf<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to available-for-sale financial assets. [Refer: Financial assets available-for-sale; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-02&amp;anchor=para_81_ab&amp;doctype=Standard&amp;book=b_pdf<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_90&amp;doctype=Standard&amp;book=b_pdf<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to changes in a revaluation surplus. [Refer: Revaluation surplus; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeAbstract</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to exchange differences on the translation of financial statements of foreign operations. [Refer: Other comprehensive income; Reserve of exchange differences on translation]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to hedges of net investments in foreign operations. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to remeasurements of defined benefit plans. [Refer: Other comprehensive income; Reserve of remeasurements of defined benefit plans; Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) on remeasurements of defined benefit plans, which comprise actuarial gains and losses; the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). [Refer: Other comprehensive income; Defined benefit plans [member]; Plan assets [member]; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) in relation to changes in the revaluation surplus. [Refer: Other comprehensive income; Revaluation surplus]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income that will be reclassified to profit or loss, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82A<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income that will not be reclassified to profit or loss, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82A<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_39L_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2018-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=17&amp;date=2018-03-01&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of reclassification adjustments related to available-for-sale financial assets, net of tax. Reclassification adjustments are amounts reclassified to profit (loss) in the current period that were recognised in other comprehensive income in the current or previous periods. [Refer: Financial assets available-for-sale; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 92<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_92&amp;doctype=Standard&amp;book=b_pdf<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of reclassification adjustments related to cash flow hedges, net of tax. Reclassification adjustments are amounts reclassified to profit (loss) in the current period that were recognised in other comprehensive income in the current or previous periods. [Refer: Cash flow hedges [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 92<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_92&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24C<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24C_b_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24E<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24E_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_23_d&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share of the other comprehensive income of associates and joint ventures accounted for using the equity method that will be reclassified to profit or loss, net of tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82A<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_StatementOfComprehensiveIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_StatementOfComprehensiveIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Comprehensive income attributable to participating policyholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ComprehensiveIncomeAttributableToParticipatingPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncomeTaxRelatingToReclassificationAdjustmentOnAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income tax relating to reclassification adjustment on available-for-sale financial assets of other comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncomeTaxRelatingToReclassificationAdjustmentOnAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncomeTaxRelatingToReclassificationAdjustmentsOnCashFlowHedgesOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income tax relating to reclassification adjustments on cash flow hedges of other comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncomeTaxRelatingToReclassificationAdjustmentsOnCashFlowHedgesOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6873038832">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Changes in Equity - CAD ($)<br> shares in Millions, $ in Millions</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Preferred shares [Member]</div></th>
<th class="th"><div>Common shares [Member]</div></th>
<th class="th"><div>Contributed Surplus [Member]</div></th>
<th class="th"><div>Shareholders' Retained Earnings [Member]</div></th>
<th class="th"><div>Shareholders' accumulated other comprehensive income (loss) ("AOCI") [Member]</div></th>
<th class="th"><div>Participating Policyholders' Equity [Member]</div></th>
<th class="th"><div>Non-controlling Interests [Member]</div></th>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance, beginning of year at Dec. 31, 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,577<span></span>
</td>
<td class="nump">$ 22,865<span></span>
</td>
<td class="nump">$ 284<span></span>
</td>
<td class="nump">$ 9,759<span></span>
</td>
<td class="nump">$ 5,347<span></span>
</td>
<td class="nump">$ 248<span></span>
</td>
<td class="nump">$ 743<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax', window );">Change in unrealized foreign exchange gains (losses) of net foreign operations</a></td>
<td class="num">$ (2,256)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,029)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Net income attributed to shareholders</a></td>
<td class="nump">2,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseThroughExerciseOfOptionsAndDeferredShareUnits', window );">Exercise of stock options and deferred share units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(22)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Net income attributed to non-controlling interests</a></td>
<td class="nump">194<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">194<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProfitLossAttributableToParticipatingPolicyholders', window );">Net income (loss) attributed to participating policyholders</a></td>
<td class="num">(36)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(36)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Change in actuarial gains (losses) on pension and other post-employment plans</a></td>
<td class="nump">53<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Stock option expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests', window );">Other comprehensive income (loss) attributed to non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherComprehensiveIncomeAttributableToPolicyholders', window );">Other comprehensive income attributed to policyholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax', window );">Change in unrealized gains (losses) on available-for-sale financial securities</a></td>
<td class="nump">601<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">572<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOtherShares', window );">Preferred share dividends</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(159)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Issued on exercise of stock options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">124<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ContributionsNetNoncontrollingInterests', window );">Contributions (distributions), net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax', window );">Change in unrealized gains (losses) on derivative instruments designated as cash flow hedges</a></td>
<td class="nump">110<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">123<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinaryShares', window );">Common share dividends</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,621)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Change in real estate revaluation reserve</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax', window );">Share of other comprehensive income (losses) of associates</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance, end of year at Dec. 31, 2017</a></td>
<td class="nump">42,163<span></span>
</td>
<td class="nump">3,577<span></span>
</td>
<td class="nump">$ 22,989<span></span>
</td>
<td class="nump">277<span></span>
</td>
<td class="nump">10,083<span></span>
</td>
<td class="nump">4,087<span></span>
</td>
<td class="nump">221<span></span>
</td>
<td class="nump">929<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Total shareholders' equity, end of year</a></td>
<td class="nump">41,013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax', window );">Change in unrealized foreign exchange gains (losses) of net foreign operations</a></td>
<td class="nump">3,078<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,650<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Net income attributed to shareholders</a></td>
<td class="nump">4,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseThroughExerciseOfOptionsAndDeferredShareUnits', window );">Exercise of stock options and deferred share units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Net income attributed to non-controlling interests</a></td>
<td class="nump">214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">214<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Issued (note 12)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProfitLossAttributableToParticipatingPolicyholders', window );">Net income (loss) attributed to participating policyholders</a></td>
<td class="num">(127)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(127)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Change in actuarial gains (losses) on pension and other post-employment plans</a></td>
<td class="num">(62)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(62)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_RepurchaseOfCommonShares', window );">Common shares repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(269)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(209)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Stock option expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests', window );">Other comprehensive income (loss) attributed to non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Issuance costs, net of tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax', window );">Change in unrealized gains (losses) on available-for-sale financial securities</a></td>
<td class="num">(458)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(443)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOtherShares', window );">Preferred share dividends</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (168)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Issued on exercise of stock options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 59<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Acquisition of non-controlling interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ContributionsNetNoncontrollingInterests', window );">Contributions (distributions), net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(48)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax', window );">Change in unrealized gains (losses) on derivative instruments designated as cash flow hedges</a></td>
<td class="num">(34)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(18)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinaryShares', window );">Common share dividends</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,802)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseThroughDividendReinvestmentAndSharePurchasePlan', window );">Issued under dividend reinvestment and share purchase plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">182<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Change in real estate revaluation reserve</a></td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax', window );">Share of other comprehensive income (losses) of associates</a></td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance, end of year at Dec. 31, 2018</a></td>
<td class="nump">47,151<span></span>
</td>
<td class="nump">$ 3,822<span></span>
</td>
<td class="nump">$ 22,961<span></span>
</td>
<td class="nump">$ 265<span></span>
</td>
<td class="nump">$ 12,704<span></span>
</td>
<td class="nump">$ 6,212<span></span>
</td>
<td class="nump">$ 94<span></span>
</td>
<td class="nump">$ 1,093<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Total shareholders' equity, end of year</a></td>
<td class="nump">$ 45,964<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidOrdinaryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid by the entity on ordinary shares. [Refer: Ordinary shares [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 34<br> -IssueDate 2018-01-01<br> -Paragraph 16A<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=34&amp;date=2018-03-01&amp;anchor=para_16A_f&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidOrdinaryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidOtherShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid by the entity on shares other than ordinary shares. [Refer: Ordinary shares [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 34<br> -IssueDate 2018-01-01<br> -Paragraph 16A<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=34&amp;date=2018-03-01&amp;anchor=para_16A_f&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidOtherShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph r<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on cash flow hedges, net of tax. [Refer: Cash flow hedges [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24C<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24C_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24E<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24E_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_23_c&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of foreign operations, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on remeasuring available-for-sale financial assets, net of tax. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_91_a&amp;doctype=Standard&amp;book=b_pdf<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity through changes in ownership interests in subsidiaries that do not result in loss of control. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) on remeasurements of defined benefit plans, which comprise actuarial gains and losses; the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). [Refer: Other comprehensive income; Defined benefit plans [member]; Plan assets [member]; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) in relation to changes in the revaluation surplus. [Refer: Other comprehensive income; Revaluation surplus]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 12<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareIssueRelatedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cost related to the issuance of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareIssueRelatedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share of the other comprehensive income of associates and joint ventures accounted for using the equity method that will be reclassified to profit or loss, net of tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82A<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ContributionsNetNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contributions net noncontrolling interests.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ContributionsNetNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncreaseDecreaseThroughDividendReinvestmentAndSharePurchasePlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase Decrease Through Dividend Reinvestment and Share Purchase Plan</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncreaseDecreaseThroughDividendReinvestmentAndSharePurchasePlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncreaseDecreaseThroughExerciseOfOptionsAndDeferredShareUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) through exercise of options and deferred share units</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncreaseDecreaseThroughExerciseOfOptionsAndDeferredShareUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OtherComprehensiveIncomeAttributableToPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other comprehensive income attributable to policyholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OtherComprehensiveIncomeAttributableToPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other comprehensive loss attributable to noncontrolling interests.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OtherComprehensiveLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ProfitLossAttributableToParticipatingPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Profit loss attributable to participating policyholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ProfitLossAttributableToParticipatingPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_RepurchaseOfCommonShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Repurchase of common shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_RepurchaseOfCommonShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>31
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6837984992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract', window );"><strong>Operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="nump">$ 4,887<span></span>
</td>
<td class="nump">$ 2,262<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract', window );"><strong>Adjustments:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInInuranceContractLiabilities', window );">Increase in insurance contract liabilities</a></td>
<td class="nump">2,907<span></span>
</td>
<td class="nump">20,023<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInInvestmentContractLiabilities', window );">Increase in investment contract liabilities</a></td>
<td class="nump">35<span></span>
</td>
<td class="nump">173<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">(Increase) decrease in reinsurance assets excluding coinsurance transactions (note 7)</a></td>
<td class="num">(9,733)<span></span>
</td>
<td class="nump">2,269<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AdjustmentsForAmortisationOfPremiumOrDiscountOnInvestedAssets', window );">Amortization of (premium) discount on invested assets</a></td>
<td class="nump">212<span></span>
</td>
<td class="nump">230<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForAmortisationExpense', window );">Other amortization</a></td>
<td class="nump">747<span></span>
</td>
<td class="nump">560<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AdjustmentsForNetRealizedAndUnrealizedGainsLossesAndImpairmentsOnAssets', window );">Net realized and unrealized (gains) losses and impairment on assets</a></td>
<td class="nump">8,727<span></span>
</td>
<td class="num">(7,188)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDeferredTaxExpense', window );">Deferred income tax expense (recovery)</a></td>
<td class="nump">930<span></span>
</td>
<td class="num">(331)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AdjustmentsForRestructuringCharge', window );">Restructuring charge</a></td>
<td class="nump">156<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForSharebasedPayments', window );">Stock option expense</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperations', window );">Cash provided by (used in) operating activities before undernoted items</a></td>
<td class="nump">19,504<span></span>
</td>
<td class="nump">18,013<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables', window );">Changes in policy related and operating receivables and payables</a></td>
<td class="num">(316)<span></span>
</td>
<td class="num">(222)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Cash provided by (used in) operating activities</a></td>
<td class="nump">19,188<span></span>
</td>
<td class="nump">17,791<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract', window );"><strong>Investing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PurchasesAndMortgageAdvances', window );">Purchases and mortgage advances</a></td>
<td class="num">(101,172)<span></span>
</td>
<td class="num">(87,224)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProceedsFromDisposalsAndRepayments', window );">Disposals and repayments</a></td>
<td class="nump">82,111<span></span>
</td>
<td class="nump">70,720<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables', window );">Change in investment broker net receivables and payables</a></td>
<td class="num">(128)<span></span>
</td>
<td class="nump">227<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Net cash decrease from sale and purchase of subsidiaries and businesses</a></td>
<td class="nump">187<span></span>
</td>
<td class="num">(10)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Cash provided by (used in) investing activities</a></td>
<td class="num">(19,002)<span></span>
</td>
<td class="num">(16,287)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract', window );"><strong>Financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughModificationOfContractualCashFlowsFinancialAssets', window );">Increase (decrease) in repurchase agreements and securities sold but not yet purchased</a></td>
<td class="num">(189)<span></span>
</td>
<td class="num">(29)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfNoncurrentBorrowings', window );">Redemption of long-term debt (note 10)</a></td>
<td class="num">(400)<span></span>
</td>
<td class="num">(607)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Issue of capital instruments, net (note 11)</a></td>
<td class="nump">597<span></span>
</td>
<td class="nump">2,209<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBondsNotesAndDebentures', window );">Redemption of capital instruments (note 11)</a></td>
<td class="num">(450)<span></span>
</td>
<td class="num">(899)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities', window );">Secured borrowing from securitization transactions</a></td>
<td class="nump">250<span></span>
</td>
<td class="nump">741<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings', window );">Changes in deposits from Bank clients, net</a></td>
<td class="nump">1,490<span></span>
</td>
<td class="nump">261<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities', window );">Shareholders' dividends paid in cash</a></td>
<td class="num">(1,788)<span></span>
</td>
<td class="num">(1,780)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ContributionsFromDistributionsToNoncontrollingInterests', window );">Contributions from (distributions to) non-controlling interests, net</a></td>
<td class="num">(60)<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares', window );">Common shares repurchased</a></td>
<td class="num">(478)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfOrdinaryShares', window );">Common shares issued, net (note 12)</a></td>
<td class="nump">59<span></span>
</td>
<td class="nump">124<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfPreferenceShares', window );">Preferred shares issued, net (note 12)</a></td>
<td class="nump">245<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Cash provided by (used in) financing activities</a></td>
<td class="num">(724)<span></span>
</td>
<td class="nump">14<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalentsAbstract', window );"><strong>Cash and short-term securities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges', window );">Increase (decrease) during the year</a></td>
<td class="num">(538)<span></span>
</td>
<td class="nump">1,518<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents', window );">Effect of foreign exchange rate changes on cash and short-term securities</a></td>
<td class="nump">822<span></span>
</td>
<td class="num">(658)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition', window );">Balance, beginning of year</a></td>
<td class="nump">15,098<span></span>
</td>
<td class="nump">14,238<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition', window );">Balance, December 31</a></td>
<td class="nump">15,382<span></span>
</td>
<td class="nump">15,098<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract', window );"><strong>Cash and short-term securities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Gross cash and short-term securities, beginning of year</a></td>
<td class="nump">15,965<span></span>
</td>
<td class="nump">15,151<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows', window );">Net payments in transit, included in other liabilities, beginning of year</a></td>
<td class="num">(867)<span></span>
</td>
<td class="num">(913)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition', window );">Balance, beginning of year</a></td>
<td class="nump">15,098<span></span>
</td>
<td class="nump">14,238<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Gross cash and short-term securities, end of year</a></td>
<td class="nump">16,215<span></span>
</td>
<td class="nump">15,965<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows', window );">Net payments in transit, included in other liabilities, end of year</a></td>
<td class="num">(833)<span></span>
</td>
<td class="num">(867)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition', window );">Balance, December 31</a></td>
<td class="nump">15,382<span></span>
</td>
<td class="nump">15,098<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SupplementalCashFlowInformation1Abstract', window );"><strong>Supplemental disclosures on cash flow information</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InterestReceived', window );">Interest received</a></td>
<td class="nump">10,952<span></span>
</td>
<td class="nump">10,596<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InterestPaid1', window );">Interest paid</a></td>
<td class="nump">1,212<span></span>
</td>
<td class="nump">1,118<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxesPaidRefund', window );">Income taxes paid</a></td>
<td class="nump">$ 461<span></span>
</td>
<td class="nump">$ 1,360<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for amortisation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss); Depreciation and amortisation expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDeferredTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for deferred tax expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Deferred tax expense (income); Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDeferredTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForReconcileProfitLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForSharebasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForSharebasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents in the statement of cash flows when different from the amount of cash and cash equivalents in the statement of financial position. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPositionAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) due to an increase (decrease) in current borrowings. [Refer: Current borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash from (used in) the entity's operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Section A Statement of cash flows for an entity other than a financial institution<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=sect_AStatementofcashflowsforanentityotherthanafinancialinstitution&amp;doctype=Illustrative%20Examples<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 39<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for dividends paid to equity holders of the parent, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalentsAbstract</td>
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<td><strong> Period Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxesPaidRefund">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from income taxes paid or refunded.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxesPaidRefund</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents before the effect of exchange rate changes on cash and cash equivalents held in foreign currencies. [Refer: Cash and cash equivalents; Effect of exchange rate changes on cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in reinsurance assets. [Refer: Reinsurance assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG37&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInReinsuranceAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughModificationOfContractualCashFlowsFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in financial assets resulting from the modification of contractual cash flows. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35I<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35I_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughModificationOfContractualCashFlowsFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of differences between cash and cash equivalents in the statement of cash flows and the statement of financial position that the entity does not separately disclose in the same statement or note. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherDifferencesToCashAndCashEquivalentsInStatementOfCashFlows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to acquire or redeem entity's shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsToAcquireOrRedeemEntitysShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuing of bonds, notes and debentures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssueOfOrdinaryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuing of ordinary shares. [Refer: Ordinary shares [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssueOfOrdinaryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssueOfPreferenceShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuing of preference shares. [Refer: Preference shares [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssueOfPreferenceShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_39L_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2018-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=17&amp;date=2018-03-01&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBondsNotesAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for repayments of bonds, notes and debentures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBondsNotesAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for repayments of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_AdjustmentsForAmortisationOfPremiumOrDiscountOnInvestedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for amortisation of premium or discount on invested assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_AdjustmentsForAmortisationOfPremiumOrDiscountOnInvestedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_AdjustmentsForNetRealizedAndUnrealizedGainsLossesAndImpairmentsOnAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for net realized and unrealized gains (losses) and impairments on assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_AdjustmentsForNetRealizedAndUnrealizedGainsLossesAndImpairmentsOnAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_AdjustmentsForRestructuringCharge">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for restructuring charge.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_AdjustmentsForRestructuringCharge</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Change in investment broker net receivables and payables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ChangeInInvestmentBrokerNetReceivablesAndPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in policy related and operating receivables and payables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ChangesInPolicyRelatedAndOperatingReceivablesAndPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ContributionsFromDistributionsToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contributions from (distributions to) non-controlling interests.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ContributionsFromDistributionsToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncreaseDecreaseInInuranceContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase decrease in inurance contract liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncreaseDecreaseInInuranceContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncreaseDecreaseInInvestmentContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase decrease in investment contract liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncreaseDecreaseInInvestmentContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InterestPaid1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InterestPaid1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InterestReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest received.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InterestReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ProceedsFromDisposalsAndRepayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from disposals and repayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ProceedsFromDisposalsAndRepayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from secured borrowing from securitization transactions classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ProceedsFromSecuredBorrowingFromSecuritizationTransactionsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_PurchasesAndMortgageAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Purchases and mortgage advances.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_PurchasesAndMortgageAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_SupplementalCashFlowInformation1Abstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Supplemental cash flow information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_SupplementalCashFlowInformation1Abstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855871472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Nature of Operations and Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfNatureOfOperationsAndSignificantAccountingPoliciesTextBlock', window );">Nature of Operations and Significant Accounting Policies</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 1&#xA0;&#xA0;&#xA0;&#xA0;Nature of
 Operations and Significant Accounting Policies</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Reporting entity</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Manulife Financial Corporation (&#x201C;MFC&#x201D;) is a publicly
 traded company and the holding company of The Manufacturers Life
 Insurance Company (&#x201C;MLI&#x201D;), a Canadian life insurance
 company. MFC and its subsidiaries (collectively,
 &#x201C;Manulife&#x201D; or the &#x201C;Company&#x201D;) is a leading
 financial services group with principal operations in Asia, Canada
 and the United States. Manulife&#x2019;s international network of
 employees, agents and distribution partners offers financial
 protection and wealth management products and services to personal
 and business clients as well as asset management services to
 institutional customers. The Company operates as Manulife in Canada
 and Asia and as John Hancock in the United States.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 MFC is domiciled in Canada and incorporated under the Insurance
 Companies Act (Canada) (&#x201C;ICA&#x201D;). These Consolidated
 Financial Statements have been prepared in accordance with
 International Financial Reporting Standards (&#x201C;IFRS&#x201D;) as
 issued by the International Accounting Standards Board
 (&#x201C;IASB&#x201D;).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 These Consolidated Financial Statements should be read in
 conjunction with &#x201C;Risk Management&#x201D; in the 2018
 Management&#x2019;s Discussion and Analysis (&#x201C;MD&amp;A&#x201D;)
 dealing with IFRS 7 &#x201C;Financial Instruments:
 Disclosures&#x201D; as the discussion on market risk and liquidity
 risk includes certain disclosures that are considered an integral
 part of these Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 These Consolidated Financial Statements as at and for the year
 ended December&#xA0;31, 2018 were authorized for issue by
 MFC&#x2019;s Board of Directors on February&#xA0;13, 2019.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Basis of preparation</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The preparation of Consolidated Financial Statements in conformity
 with IFRS requires management to make judgments, estimates and
 assumptions that affect the application of accounting policies and
 the reported amounts of assets and liabilities, and the disclosure
 of contingent assets and liabilities as at the date of the
 Consolidated Financial Statements, and the reported amounts of
 revenue and expenses during the reporting periods. Actual results
 may differ from these estimates. The most significant estimation
 processes relate to assumptions used in measuring insurance and
 investment contract liabilities, assessing assets for impairment,
 determining of pension and other post-employment benefit obligation
 and expense assumptions, determining income taxes and uncertain tax
 positions and fair valuation of certain invested assets. Estimates
 and underlying assumptions are reviewed on an ongoing basis.
 Revisions to accounting estimates are recognized in the year in
 which the estimates are revised and in any future years affected.
 Although some variability is inherent in these estimates,
 management believes that the amounts recorded are appropriate. The
 significant accounting policies used and the most significant
 judgments made by management in applying these accounting policies
 in the preparation of these Consolidated Financial Statements are
 summarized below.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Fair value measurement</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Fair value is defined as the price that would be received to sell
 an asset or paid to transfer a liability in an orderly transaction
 (not a forced liquidation or distress sale) between market
 participants at the measurement date, that is, an exit value.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 When available, quoted market prices are used to determine fair
 value. If quoted market prices are not available, fair value is
 typically based upon alternative valuation techniques such as
 discounted cash flows, matrix pricing, consensus pricing services
 and other techniques. Broker quotes are generally used when
 external public vendor prices are not available.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company has a process in place that includes a review of price
 movements relative to the market, a comparison of prices between
 vendors, and a comparison to internal matrix pricing which uses
 predominately external observable data. Judgment is applied in
 adjusting external observable data for items including liquidity
 and credit factors.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company categorizes its fair value measurements according to a
 three-level hierarchy. The hierarchy prioritizes the inputs used by
 the Company&#x2019;s valuation techniques. A level is assigned to
 each fair value measurement based on the lowest level input
 significant to the fair value measurement in its entirety. The
 three levels of the fair value hierarchy are defined as
 follows:</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Level&#xA0;1 &#x2013; Fair value measurements that reflect
 unadjusted, quoted prices in active markets for identical assets
 and liabilities that the Company can access at the measurement date
 reflecting market transactions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Level&#xA0;2 &#x2013; Fair value measurements using inputs other
 than quoted prices included within Level&#xA0;1 that are observable
 for the asset or liability, either directly or indirectly. These
 include quoted prices for similar assets and liabilities in active
 markets, quoted prices for identical or similar assets and
 liabilities in inactive markets, inputs that are observable that
 are not prices (such as interest rates, credit risks, etc.) and
 inputs that are derived from or corroborated by observable market
 data. Most debt securities are classified within Level&#xA0;2.
 Also, included in the Level&#xA0;2 category are derivative
 instruments that are priced using models with observable market
 inputs, including interest rate swaps, equity swaps, and foreign
 currency forward contracts.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Level&#xA0;3 &#x2013; Fair value measurements using
 significant&#xA0;<font style="WHITE-SPACE: nowrap">non-market</font>&#xA0;observable
 inputs. These include valuations for assets and liabilities that
 are derived using data, some or all of which is not market
 observable, including assumptions about risk. Level&#xA0;3
 securities include less liquid securities such as structured
 asset-backed securities, commercial mortgage-backed securities
 (&#x201C;CMBS&#x201D;), certain long-duration bonds and other
 securities that have little or no price transparency. Certain
 derivative financial instruments and investment properties are also
 included in Level&#xA0;3.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(d) Basis of consolidation</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 MFC consolidates the financial statements of all entities,
 including certain structured entities that it controls.
 Subsidiaries are entities controlled by the Company. The Company
 has control over an entity when the Company has the power to govern
 the financial and operating policies of the entity, is exposed to
 variable returns from its activities which are significant in
 relation to the total variable returns of the entity and the
 Company is able to use its power over the entity to affect its
 share of variable returns. In assessing control, significant
 judgment is applied while considering all relevant facts and
 circumstances. When assessing decision-making power, the Company
 considers the extent of its rights relative to the management of an
 entity, the level of voting rights held in an entity which are
 potentially or presently exercisable, the existence of any
 contractual management agreements which may provide the Company
 with power over an entity&#x2019;s financial and operating policies
 and to the extent of other parties&#x2019; ownership in an entity,
 if any, the possibility for de facto control being present. When
 assessing returns, the Company considers the significance of direct
 and indirect financial and&#xA0;<font style="WHITE-SPACE: nowrap">non-financial</font>&#xA0;variable
 returns to the Company from an entity&#x2019;s activities in
 addition to the proportionate significance of such returns. The
 Company also considers the degree to which its interests are
 aligned with those of other parties investing in an entity and the
 degree to which it may act in its own interest.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The financial statements of subsidiaries are included in
 MFC&#x2019;s consolidated results from the date control is
 established and are excluded from consolidation from the date
 control ceases. The initial control assessment is performed at
 inception of the Company&#x2019;s involvement with the entity and is
 reconsidered at a later date if the Company acquires or loses power
 over key operating and financial policies of the entity; acquires
 additional interests or disposes of interests in the entity; the
 contractual arrangements of the entity are amended such that the
 Company&#x2019;s proportionate exposure to variable returns changes;
 or if the Company&#x2019;s ability to use its power to affect its
 variable returns from the entity changes.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s Consolidated Financial Statements have been
 prepared using uniform accounting policies for like transactions
 and events in similar circumstances. Intercompany balances, and
 income and expenses arising from intercompany transactions, have
 been eliminated in preparing the Consolidated Financial
 Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>&#xA0;interests
 are interests of other parties in the equity of MFC&#x2019;s
 subsidiaries and are presented within total equity, separate from
 the equity of MFC&#x2019;s
 shareholders.&#xA0;<font style="WHITE-SPACE: nowrap">Non-controlling</font>&#xA0;interests
 in the net income and other comprehensive income
 (&#x201C;OCI&#x201D;) of MFC&#x2019;s subsidiaries are included in
 total net income and total OCI, respectively. An exception to this
 occurs where the subsidiary&#x2019;s shares are required to be
 redeemed for cash on a fixed or determinable date, in which case
 other parties&#x2019; interests in the subsidiary&#x2019;s capital
 are presented as liabilities of the Company and other
 parties&#x2019;&#xA0;<font style="WHITE-SPACE: nowrap">non-controlling</font>&#xA0;interests
 in the subsidiary&#x2019;s income and OCI are recorded as expenses
 of the Company.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The equity method of accounting is used to account for entities
 over which the Company has significant influence
 (&#x201C;associates&#x201D; or &#x201C;joint ventures&#x201D;), whereby
 the Company records its share of the associate&#x2019;s or joint
 venture&#x2019;s net assets and financial results using uniform
 accounting policies for similar transactions and events.
 Significant judgment is used to determine whether voting rights,
 contractual management and other relationships with the entity, if
 any, provide the Company with significant influence or joint
 control over the entity. Gains and losses on the sale of associates
 or joint ventures are included in income when realized, while
 impairment losses are recognized immediately when there is
 objective evidence of impairment. Gains and losses on commercial
 transactions with associates or joint ventures are eliminated to
 the extent of the Company&#x2019;s interest in the associate or
 joint venture. Investments in associates or joint ventures are
 included in other invested assets on the Company&#x2019;s
 Consolidated Statements of Financial Position.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(e) Invested assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Invested assets that are considered financial instruments are
 classified as fair value through profit or loss
 (&#x201C;FVTPL&#x201D;), loans and receivables, or
 as&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">available-for-sale</font></font>&#xA0;(&#x201C;AFS&#x201D;)
 financial assets. The Company determines the classification of its
 financial assets at initial recognition. Invested assets are
 recognized initially at fair value plus, in the case of investments
 not at FVTPL, directly attributable transaction costs. Invested
 assets are classified as financial instruments at FVTPL if they are
 held for trading, if they are designated by management under the
 fair value option, or if they are designated by management when
 they include one or more embedded derivatives. Invested assets
 classified as AFS are&#xA0;<font style="WHITE-SPACE: nowrap">non-derivative</font>&#xA0;financial
 assets that do not fall into any of the other categories described
 above.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Valuation methods for the Company&#x2019;s invested assets are
 described above. All fair value valuations are performed in
 accordance with IFRS 13 &#x201C;Fair Value Measurement&#x201D;.
 Disclosure of financial instruments carried at fair value with the
 three levels of the fair value hierarchy and the disclosure of the
 fair value for financial instruments not carried at fair value on
 the Consolidated Statements of Financial Position are presented in
 note 3. Fair value valuations are performed by the Company and by
 third-party service providers. When third-party service providers
 are engaged, the Company performs a variety of procedures to
 corroborate pricing information. These procedures may include, but
 are not limited to, inquiry and review of valuation techniques,
 inputs to the valuation and vendor controls reports.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Cash and short-term securities comprise of cash, current operating
 accounts, overnight bank and term deposits, and fixed income
 securities held for meeting short-term cash commitments. Short-term
 securities are carried at fair value. Short-term securities are
 comprised of investments due to mature within one year of the date
 of purchase. Commercial paper and discount notes are classified as
 Level&#xA0;2 because these securities are typically not actively
 traded. Net payments in transit and overdraft bank balances are
 included in other liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Debt securities are carried at fair value. Debt securities are
 generally valued by independent pricing vendors using proprietary
 pricing models incorporating current market inputs for similar
 instruments with comparable terms and credit quality (matrix
 pricing). The significant inputs include, but are not limited to,
 yield curves, credit risks and spreads, measures of volatility and
 prepayment rates. These debt securities are classified as
 Level&#xA0;2 but can be Level&#xA0;3 if significant inputs are
 market unobservable. Realized gains and losses on sale of debt
 securities and unrealized gains and losses on debt securities
 designated as FVTPL are recognized in investment income
 immediately. Unrealized gains and losses on AFS debt securities are
 recorded in OCI, except for unrealized gains and losses on foreign
 currency translation which are included in income. Impairment
 losses on AFS debt securities are recognized in income on an
 individual security basis when there is objective evidence of
 impairment. Impairment is considered to have occurred, based on
 management&#x2019;s judgment, when it is deemed probable that the
 Company will not be able to collect all amounts due according to
 the debt security&#x2019;s contractual terms.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Equities are comprised of common and preferred equities and are
 carried at fair value. Equities are generally classified as
 Level&#xA0;1, as fair values are normally based on quoted market
 prices. Realized gains and losses on sale of equities and
 unrealized gains and losses on equities designated as FVTPL are
 recognized in investment income immediately. Unrealized gains and
 losses on AFS equities are recorded in OCI. Impairment losses on
 AFS equities are recognized in income on an individual security
 basis when there is objective evidence of impairment. Impairment is
 considered to have occurred when fair value has declined below cost
 by a significant amount or for a prolonged period of time. Judgment
 is applied in determining whether the decline is significant or
 prolonged.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Mortgages are carried at amortized cost and are classified as
 Level&#xA0;3 for fair value purposes due to the lack of market
 observability of certain significant valuation inputs. Realized
 gains and losses are recorded in investment income immediately.
 Impairment losses are recorded on mortgages when there is no longer
 reasonable assurance as to the timely collection of the full amount
 of principal and interest and are measured based on the discounted
 value of expected future cash flows at the original effective
 interest rates inherent in the mortgage. Expected future cash flows
 of impaired mortgages are typically determined with reference to
 the fair value of collateral security underlying the mortgage, net
 of expected costs of realization and any applicable insurance
 recoveries. Significant judgment is applied in the determination of
 impairment including the timing and amount of future
 collections.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company accounts for insured and uninsured mortgage
 securitizations as secured financing transactions since the
 criteria for sale accounting are not met. For these transactions,
 the Company continues to recognize the mortgages and records a
 liability in other liabilities for the amounts owed at maturity.
 Interest income from these mortgages and interest expense on the
 borrowings are recorded using the effective interest rate
 method.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Private placements, which include corporate loans for which there
 is no active market, are carried at amortized cost and are
 generally classified as Level&#xA0;2 for fair value disclosure
 purposes or as Level&#xA0;3 if significant inputs are market
 unobservable. Realized gains and losses are recorded in income
 immediately. Impairment losses are recorded on private placements
 when there is no longer assurance as to the timely collection of
 the full amount of principal and interest. Impairment is measured
 based on the discounted value of expected future cash flows at the
 original effective interest rate inherent in the loan. Significant
 judgment is applied in the determination of impairment including
 the timing and amount of future collections.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Policy loans are carried at an amount equal to their unpaid
 balances and are classified as Level&#xA0;2 for fair value
 disclosure purposes. Policy loans are fully collateralized by the
 cash surrender value of the underlying policies.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Loans to Manulife Bank of Canada (&#x201C;Manulife Bank&#x201D; or
 &#x201C;Bank&#x201D;) clients are carried at amortized cost, and are
 classified as Level&#xA0;2 for fair value disclosure purposes. A
 loan to a Bank client is considered impaired when there is
 objective evidence of impairment because of one or more loss events
 that have occurred after initial recognition, with a negative
 impact on the estimated future cash flows of the loan.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Once established, allowances for impairment of mortgages, private
 placements and loans to Bank clients are reversed only if the
 conditions that caused the impairment no longer exist. Reversals of
 impairment charges on AFS debt securities are only recognized in
 income to the extent that increases in fair value can be attributed
 to events after the impairment loss being recorded. Impairment
 losses for AFS equity instruments are not reversed through income.
 On disposition of an impaired asset, any allowance for impairment
 is released.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In addition to impairments and provisions for loan losses
 (recoveries) reported in investment income, the measurement of
 insurance contract liabilities, via investment return assumptions,
 includes expected future credit losses on fixed income investments.
 Refer to note 7(d).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Interest income is recognized on debt securities, mortgages,
 private placements, policy loans and loans to Bank clients as it
 accrues and is calculated using the effective interest rate method.
 Premiums, discounts and transaction costs are amortized over the
 life of the underlying investment using the effective yield method
 for all debt securities as well as mortgages and private placements
 measured at amortized cost.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company records purchases and sales of invested assets on a
 trade date basis, except for loans originated by the Company, which
 are recognized on a settlement date basis.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Real estate consists of both own use and investment property. Own
 use property is carried at cost less accumulated depreciation and
 any accumulated impairment losses. Depreciation is calculated based
 on the cost of an asset less its residual value and is recognized
 in income on a straight-line basis over the estimated useful life
 ranging from 30 to 60 years. Impairment losses are recorded in
 income to the extent the recoverable amount is less than the
 carrying amount. Where own use property is included in assets
 backing insurance contract liabilities, the fair value of the
 property is used in the valuation of insurance contract
 liabilities. Own use property is classified as Level&#xA0;3 for
 fair value disclosure purposes.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 An investment property is a property held to earn rental income,
 for capital appreciation, or both. Investment properties are
 measured at fair value, with changes in fair value recognized in
 income. Fair value is determined using external appraisals that are
 based on the highest and best use of the property. The valuation
 techniques used include discounted cash flows, the direct
 capitalization method as well as comparable sales analysis and
 include both observable and unobservable inputs. Inputs include
 existing and assumed tenancies, market data from recent comparable
 transactions, future economic outlook and market risk assumptions,
 capitalization rates and internal rates of return. Investment
 properties are classified as Level&#xA0;3 for fair value disclosure
 purposes.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 When a property changes from own use to investment property, any
 gain arising on the remeasurement of the property to fair value at
 the date of transfer is recognized in OCI, to the extent that it is
 not reversing a previous impairment loss. Reversals of impairment
 losses are recognized in income.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Other invested assets include private equity and property
 investments held in power and infrastructure and timber, as well as
 in agriculture and oil and gas sectors. Private equity investments
 are accounted for as associates using the equity method (as
 described in note 1(d) above) or are classified as FVTPL or AFS and
 carried at fair value. Investments in oil and gas exploration and
 evaluation activities are measured on the cost basis using the
 &#x201C;successful efforts&#x201D; method. Timber and agriculture
 properties are measured at fair value with changes in fair value
 recognized in income, except for buildings, equipment and bearer
 plants which are measured at amortized cost. The fair value of
 other invested assets is determined using a variety of valuation
 techniques as described in note 3. Other invested assets that are
 measured or disclosed at fair value are classified as
 Level&#xA0;3.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Other invested assets also include investments in leveraged leases,
 which are accounted for using the equity method. The carrying value
 under the equity method reflects the amortized cost of the lease
 receivable and related&#xA0;<font style="WHITE-SPACE: nowrap">non-recourse</font>&#xA0;debt
 using the effective yield method.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(f) Goodwill and intangible
 assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Goodwill represents the difference between the purchase
 consideration of an acquired business and the Company&#x2019;s
 proportionate share of the net identifiable assets acquired. It is
 initially recorded at cost and subsequently measured at cost less
 any accumulated impairment.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Goodwill is tested for impairment at least annually and whenever
 events or changes in circumstances indicate that the carrying
 amounts may not be recoverable at the cash generating unit
 (&#x201C;CGU&#x201D;) or group of CGUs level. The Company allocates
 goodwill to CGUs or groups of CGUs for impairment testing based on
 the lowest level within the entity in which the goodwill is
 monitored for internal management purposes. The allocation is made
 to those CGUs or groups of CGUs that are expected to benefit from
 the business combination in which the goodwill arose. Any potential
 impairment of goodwill is identified by comparing the recoverable
 amount of a CGU or group of CGUs to its carrying value. Goodwill is
 reduced by the amount of deficiency, if any. If the deficiency
 exceeds the carrying amount of goodwill, the carrying values of the
 remaining assets in the CGU or group of CGUs are subject to being
 reduced by the excess on a&#xA0;<font style="WHITE-SPACE: nowrap">pro-rata</font>&#xA0;basis.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The recoverable amount of a CGU is the higher of the estimated fair
 value less costs to sell or the&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">value-in-use</font></font>&#xA0;of
 the CGU. In assessing&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">value-in-use,</font></font>&#xA0;estimated
 future cash flows are discounted using
 a&#xA0;<font style="WHITE-SPACE: nowrap">pre-tax</font>&#xA0;discount
 rate that reflects current market assessments of the time value of
 money and the risks specific to the asset. In some cases, the most
 recent detailed calculation made in a prior period of the
 recoverable amount of a CGU is used in the testing of impairment of
 goodwill in the current period. This is the case only if there are
 no significant changes to the CGU, the likelihood of impairment is
 remote based on the analysis of current events and circumstances,
 and the most recent recoverable amount substantially exceeds the
 carrying amount of the CGU.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Intangible assets with indefinite useful lives include the John
 Hancock brand name and certain investment management contracts. The
 indefinite useful life assessment for brand is based on the brand
 name being protected in markets where branded products are sold by
 trademarks, which are renewable indefinitely, and for certain
 investment management contracts due to the ability to renew these
 contracts indefinitely. In addition, there are no legal, regulatory
 or contractual provisions that limit the useful lives of these
 intangible assets. An intangible asset with an indefinite useful
 life is not amortized but is subject to an annual impairment test
 which is performed more frequently if there is an indication that
 it is not recoverable.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Intangible assets with finite useful lives include acquired
 distribution networks, customer relationships, capitalized
 software, certain investment management contracts and other
 contractual rights. Distribution networks, customer relationships,
 and other finite life intangible assets are amortized over their
 estimated useful lives, six to 68 years, either based on
 straight-line or in relation to other asset consumption metrics.
 Software intangible assets are amortized on a straight-line basis
 over their estimated useful lives of three to five years. Finite
 life intangible assets are assessed for indicators of impairment at
 each reporting period. If any indication of impairment exists,
 these assets are subject to an impairment test.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(g) Miscellaneous assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Miscellaneous assets include assets held in a rabbi trust with
 respect to unfunded defined benefit obligations, defined benefit
 assets, if any (refer to note 1(o)), deferred acquisition costs and
 capital assets. Deferred acquisition costs are carried at cost less
 accumulated amortization. These costs are recognized over the
 period where redemption fees may be charged or over the period
 revenue is earned. Capital assets are carried at cost less
 accumulated amortization computed on a straight-line basis over
 their estimated useful lives, which vary from two to 10 years.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(h) Segregated funds</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company manages several segregated funds on behalf of
 policyholders. The investment returns on these funds are passed
 directly to policyholders. In some cases, the Company has provided
 guarantees associated with these funds.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Segregated funds net assets are measured at fair value and
 primarily include investments in mutual funds, debt securities,
 equities, cash, short-term investments and other investments. With
 respect to the consolidation requirement of IFRS, in assessing the
 Company&#x2019;s degree of control over the underlying investments,
 the Company considers the scope of its decision-making rights, the
 rights held by other parties, its remuneration as an investment
 manager and its exposure to variability of returns. The Company has
 determined that it does not have control over the underlying
 investments as it acts as an agent on behalf of segregated fund
 policyholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The methodology applied to determine the fair value of investments
 held in segregated funds is consistent with that applied to
 invested assets held by the general fund, as described above in
 note 1(e). Segregated funds liabilities are measured based on the
 value of the segregated funds net assets. Investment returns on
 segregated funds assets belong to policyholders and the Company
 does not bear the risk associated with these assets outside of
 guarantees offered on certain variable life and annuity products,
 for which the underlying investments are held within segregated
 funds. Accordingly, investment income earned by segregated funds
 and expenses incurred by segregated funds are offset and are not
 separately presented in the Consolidated Statements of Income. Fee
 income earned by the Company for managing the segregated funds is
 included in other revenue.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Liabilities related to guarantees associated with certain
 segregated funds, as a result of certain variable life and annuity
 contracts, are recorded within the Company&#x2019;s insurance
 contract liabilities. The Company holds assets supporting these
 guarantees which are recognized in invested assets according to
 their investment type.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(i) Insurance and investment contract
 liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Most contracts issued by the Company are considered insurance,
 investment or service contracts. Contracts under which the Company
 accepts significant insurance risk from a policyholder are
 classified as insurance contracts in the Consolidated Financial
 Statements. A contract is considered to have significant insurance
 risk if, and only if, an insured event could cause an insurer to
 make significant additional payments in any scenario, excluding
 scenarios that lack commercial substance at the inception of the
 contract. Contracts under which the Company does not accept
 significant insurance risk are either classified as investment
 contracts or considered service contracts and are accounted for in
 accordance with IAS 39<i>&#xA0;&#x201C;</i>Financial
 Instruments: Recognition and
 Measurement<i>&#x201D;</i>&#xA0;or IFRS 15
 &#x201C;Revenue from Contracts with customers&#x201D;,
 respectively.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Once a contract has been classified as an insurance contract it
 remains an insurance contract even if the insurance risk reduces
 significantly. Investment contracts can be reclassified as
 insurance contracts if insurance risk subsequently becomes
 significant.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Insurance contract liabilities, net of reinsurance assets,
 represent the amount which, together with estimated future premiums
 and net investment income, will be sufficient to pay estimated
 future benefits, policyholder dividends and refunds, taxes (other
 than income taxes) and expenses on
 policies&#xA0;<font style="WHITE-SPACE: nowrap">in-force.</font>&#xA0;Insurance
 contract liabilities are presented gross of reinsurance assets on
 the Consolidated Statements of Financial Position. The
 Company&#x2019;s Appointed Actuary is responsible for determining
 the amount of insurance contract liabilities in accordance with
 standards established by the Canadian Institute of Actuaries.
 Insurance contract liabilities, net of reinsurance assets, have
 been determined using the Canadian Asset Liability Method
 (&#x201C;CALM&#x201D;) as permitted by IFRS 4 &#x201C;Insurance
 Contracts&#x201D;. Refer to note 7.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Investment contract liabilities include contracts issued to retail
 and institutional investors that do not contain significant
 insurance risk. Investment contract liabilities and deposits are
 measured at amortized cost or at fair value by election. The
 election reduces accounting mismatches between assets supporting
 these contracts and the related policy liabilities. Investment
 contract liabilities are derecognized when the contract expires, is
 discharged or is cancelled.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Derivatives embedded within insurance contracts are separated if
 they are not considered to be closely related to the host insurance
 contract and do not meet the definition of an insurance contract.
 These embedded derivatives are presented separately in other assets
 or other liabilities and are measured at fair value with changes in
 fair value recognized in income.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(j) Reinsurance assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company uses reinsurance in the normal course of business to
 manage its risk exposure. Insurance ceded to a reinsurer does not
 relieve the Company from its obligations to policyholders. The
 Company remains liable to its policyholders for the portion
 reinsured to the extent that any reinsurer does not meet its
 obligations for reinsurance ceded to it under a reinsurance
 agreement.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Reinsurance assets represent the benefit derived from reinsurance
 agreements&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;at the
 reporting date, considering the financial condition of the
 reinsurer. Amounts recoverable from reinsurers are estimated in
 accordance with the terms of the relevant reinsurance contract.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Gains or losses on reinsurance transactions are recognized in
 income immediately on the transaction date and are not amortized.
 Premiums ceded and claims reimbursed are presented on a gross basis
 on the Consolidated Statements of Income. Reinsurance assets are
 not offset against the related insurance contract liabilities and
 are presented separately on the Consolidated Statements of
 Financial Position. Refer to note 7(a).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(k) Other financial instruments accounted
 for as liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company issues a variety of other financial instruments
 classified as liabilities, including notes payable, term notes,
 senior notes, senior debentures, subordinated notes, surplus notes,
 subscription receipts and preferred shares. These financial
 liabilities are measured at amortized cost, with issuance costs
 deferred and amortized using the effective interest rate
 method.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(l) Income taxes</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The provision for income taxes is calculated based on income tax
 laws and income tax rates substantively enacted as at the date of
 the Consolidated Statements of Financial Position. The income tax
 provision is comprised of current income taxes and deferred income
 taxes. Current and deferred income taxes relating to items
 recognized in OCI and directly in equity are similarly recognized
 in OCI and directly in equity, respectively.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Current income taxes are amounts expected to be payable or
 recoverable for the current year and any adjustments to taxes
 payable in respect of previous years.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Deferred income taxes are provided for using the liability method
 and result from temporary differences between the carrying values
 of assets and liabilities and their respective tax bases. Deferred
 income taxes are measured at the substantively enacted tax rates
 that are expected to be applied to temporary differences when they
 reverse.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 A deferred tax asset is recognized to the extent that future
 realization of the tax benefit is probable. Deferred tax assets are
 reviewed at each reporting date and are reduced to the extent that
 it is no longer probable that the tax benefit will be realized.
 Deferred tax assets and liabilities are offset if there is a
 legally enforceable right to offset current tax liabilities and
 assets and they relate to income taxes levied by the same tax
 authority on the same taxable entity.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Deferred tax liabilities are recognized for all taxable temporary
 differences, except in respect of taxable temporary differences
 associated with investments in subsidiaries, associates and joint
 ventures, where the timing of the reversal of the temporary
 differences can be controlled and it is probable that the temporary
 differences will not reverse in the foreseeable future.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company records provisions for uncertain tax positions if it is
 probable that the Company will make a payment on tax positions due
 to examinations by tax authorities. These provisions are measured
 at the Company&#x2019;s best estimate of the amount expected to be
 paid. Provisions are reversed to income in the period in which
 management assesses they are no longer required or determined by
 statute.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company is subject to income tax laws in various jurisdictions.
 Tax laws are complex and potentially subject to different
 interpretations by the taxpayer and the relevant tax authority. The
 provision for income taxes and deferred income taxes represents
 management&#x2019;s interpretation of the relevant tax laws and its
 estimate of current and future income tax implications of the
 transactions and events during the year. The Company may be
 required to change its provision for income taxes or deferred
 income tax balances when the ultimate deductibility of certain
 items is successfully challenged by taxing authorities, or if
 estimates used in determining the amount of deferred tax asset to
 recognize change significantly, or when receipt of new information
 indicates the need for adjustment in the amount of deferred income
 taxes to be recognized. Additionally, future events, such as
 changes in tax laws, tax regulations, or interpretations of such
 laws or regulations, could have an impact on the provision for
 income taxes, deferred tax balances and the effective tax rate. Any
 such changes could materially affect the amounts reported in the
 Consolidated Financial Statements in the period these changes
 occur.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(m) Foreign currency
 translation</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Items included in the financial statements of each of the
 Company&#x2019;s subsidiaries are measured by each subsidiary using
 the currency of the primary economic environment in which the
 entity operates (the &#x201C;functional currency&#x201D;).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Transactions in a foreign currency are translated to the functional
 currency at the exchange rate prevailing at the date of the
 transaction. Assets and liabilities denominated in foreign
 currencies are translated to the functional currency at the
 exchange rate in effect at the reporting date. Revenue and expenses
 denominated in foreign currencies are translated at the average
 exchange rate prevailing during the quarter reported. Exchange
 gains and losses are recognized in income except for translation of
 net investments in foreign operations and the results of hedging
 these positions. These foreign exchange gains and losses are
 recognized in OCI until such time that the foreign operation is
 disposed of or control or significant influence over it is
 lost.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(n) Stock-based
 compensation</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company provides stock-based compensation to certain employees
 and directors as described in note 15. Compensation expense of
 equity instruments is accrued based on the best estimate of the
 number of instruments expected to vest, with revisions made to that
 estimate if subsequent information indicates that actual
 forfeitures are likely to differ from initial estimates, unless
 forfeitures are due to market-based conditions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Stock options are expensed with a corresponding increase in
 contributed surplus. Restricted share units and deferred share
 units are expensed with a corresponding liability accrued based on
 the market value of MFC&#x2019;s common shares at the end of each
 quarter. Performance share units are expensed with a corresponding
 liability accrued based on specific performance conditions and the
 market value of MFC&#x2019;s common shares at the end of each
 quarter. The change in the value of the awards resulting from
 changes in the market value of MFC&#x2019;s common shares or changes
 in the specific performance conditions and credited dividends is
 recognized in income, offset by the impact of total return swaps
 used to manage the variability of the related liability.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Stock-based compensation cost is recognized over the applicable
 vesting period, except if the employee is eligible to retire at the
 time of grant or will be eligible to retire during the vesting
 period. Compensation cost, attributable to stock options,
 restricted share units, and performance share units granted to
 employees who are eligible to retire on the grant date or who will
 become eligible to retire during the vesting period, is recognized
 at the grant date or over the period from the grant date to the
 date of retirement eligibility, respectively.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s contributions to the Global Share Ownership
 Plan (&#x201C;GSOP&#x201D;) (refer to note 15(d)), are expensed as
 incurred. Under the GSOP, subject to certain conditions, the
 Company will match a percentage of an employee&#x2019;s eligible
 contributions to certain maximums. All contributions are used by
 the plan&#x2019;s trustee to purchase MFC common shares in the open
 market.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(o) Employee future
 benefits</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company maintains defined contribution and defined benefit
 pension plans and other post-employment plans for employees and
 agents including registered (tax qualified) pension plans that are
 typically funded as well as
 supplemental&#xA0;<font style="WHITE-SPACE: nowrap">non-registered</font>&#xA0;<font style="WHITE-SPACE: nowrap">(non-qualified)</font>&#xA0;pension
 plans for executives, retiree and disability welfare plans that are
 typically not funded.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s obligation in respect of defined benefit
 pension and other post-employment benefits is calculated for each
 plan as the estimated present value of future benefits that
 eligible employees have earned in return for their service up to
 the reporting date using the projected benefit method. The discount
 rate used is based on the yield, as at the reporting date, of high
 quality corporate debt securities that have approximately the same
 term as the obligations and that are denominated in the same
 currency in which the benefits are expected to be paid.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 To determine the Company&#x2019;s net defined benefit asset or
 liability, the fair value of plan assets is deducted from the
 defined benefit obligations. When this calculation results in a
 surplus, the asset that can be recognized is limited to the present
 value of future economic benefit available in the form of future
 refunds from the plan or reductions in future contributions to the
 plan (the asset limit). Defined benefit assets are included in
 other assets and defined benefit liabilities are included in other
 liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Changes in the net defined benefit asset or liability due
 to&#xA0;<font style="WHITE-SPACE: nowrap">re-measurement</font>&#xA0;of
 pension and retiree welfare plans are recorded in OCI in the period
 in which they occur and are not reclassified to income in
 subsequent periods. They consist of actuarial gains and losses, the
 impact of the asset limit, if any, and the return on plan assets,
 excluding amounts included in net interest income or expense.
 Changes in the net defined benefit asset or liability due
 to&#xA0;<font style="WHITE-SPACE: nowrap">re-measurement</font>&#xA0;of
 disability welfare plans are recorded in income in the period in
 which they occur.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The cost of defined benefit pension plans is recognized over the
 employee&#x2019;s years of service to retirement while the cost of
 retiree welfare plans is recognized over the employee&#x2019;s years
 of service to their date of full eligibility. The net benefit cost
 for the year is recorded in income and is calculated as the sum of
 the service cost in respect of the fiscal year, the net interest
 income or expense and any applicable administration expenses, plus
 past service costs or credits resulting from plan amendments or
 curtailments. The net interest income or expense is determined by
 applying the discount rate to the net defined benefit asset or
 liability. The current year cost of disability welfare plans is the
 year-over-year change in the defined benefit obligation, including
 any actuarial gains or losses.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The cost of defined contribution plans is the contribution provided
 by the Company and is recorded in income in the periods during
 which services are rendered by employees.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(p) Derivative and hedging
 instruments</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company uses derivative financial instruments
 (&#x201C;derivatives&#x201D;) including swaps, forward and futures
 agreements, and options to manage current and anticipated exposures
 to changes in interest rates, foreign exchange rates, commodity
 prices and equity market prices, and to replicate permissible
 investments. Derivatives embedded in other financial instruments
 are separately recorded as derivatives when their economic
 characteristics and risks are not closely related to those of the
 host instrument, the terms of the embedded derivative are the same
 as those of a standalone derivative and the host instrument itself
 is not recorded at FVTPL. Derivatives are recorded at fair value.
 Derivatives with unrealized gains are reported as derivative assets
 and derivatives with unrealized losses are reported as derivative
 liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 A determination is made for each derivative as to whether to apply
 hedge accounting. Where hedge accounting is not applied, changes in
 the fair value of derivatives are recorded in investment income.
 Refer to note 3(c).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Where the Company has elected to apply hedge accounting, a hedging
 relationship is designated and documented at inception. Hedge
 effectiveness is evaluated at inception and throughout the term of
 the hedge. Hedge accounting is only applied when the Company
 expects that the hedging relationship will be highly effective in
 achieving offsetting changes in fair value or changes in cash flows
 attributable to the risk being hedged. The assessment of hedge
 effectiveness is performed at the end of each reporting period both
 prospectively and retrospectively. When it is determined that a
 hedging relationship is no longer effective, or the hedging
 instrument or the hedged item has been sold or terminated, the
 Company discontinues hedge accounting prospectively. In such cases,
 if the derivatives are not sold or terminated, any subsequent
 changes in fair value of the derivatives are recognized in
 investment income.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 For derivatives that are designated as hedging instruments, changes
 in fair value are recognized according to the nature of the risks
 being hedged, as discussed below.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In a fair value hedging relationship, changes in fair value of the
 hedging instruments are recorded in investment income, offsetting
 changes in fair value of the hedged items, which would otherwise
 not be carried at fair value. Hedge ineffectiveness is recognized
 in investment income and arises from differences between changes in
 the fair values of hedging instruments and hedged items. When hedge
 accounting is discontinued, the carrying value of the hedged item
 is no longer adjusted and the cumulative fair value adjustments are
 amortized to investment income over the remaining term of the
 hedged item unless the hedged item is sold, at which time the
 balance is recognized immediately in investment income.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In a cash flow hedging relationship, the effective portion of the
 change in the fair value of the hedging instrument is recorded in
 OCI while the ineffective portion is recognized in investment
 income. Gains and losses in accumulated other comprehensive income
 (AOCI) are recognized in income during the same periods as the
 variability in the hedged cash flows or the hedged forecasted
 transactions are recognized in income. The reclassifications from
 AOCI are made to investment income, except for total return swaps
 that hedge restricted share units, which are reclassified to
 general expenses.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Gains and losses on cash flow hedges in AOCI are reclassified
 immediately to investment income when the hedged item is sold or
 the forecasted transaction is no longer expected to occur. When a
 hedge is discontinued, but the hedged forecasted transaction
 remains highly probable to occur, the amounts in AOCI are
 reclassified to investment income in the periods during which
 variability in the cash flows hedged or the hedged forecasted
 transaction is recognized in income.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In a net investment in foreign operations hedging relationship,
 gains and losses relating to the effective portion of the hedge are
 recorded in OCI. Gains and losses in AOCI are recognized in income
 during the periods when gains or losses on the underlying hedged
 net investment in foreign operations are recognized in income.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(q) Premium income and related
 expenses</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Gross premiums for all types of insurance contracts, and contracts
 with limited mortality or morbidity risk, are generally recognized
 as revenue when due. Premiums are reported gross of reinsurance
 ceded (refer to note 7).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(r) Revenue from service
 contracts</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company recognizes revenue from service contracts in accordance
 with IFRS 15.&#xA0;The Company&#x2019;s service contracts generally
 impose single performance obligations, each consisting of a series
 of similar related services for each customer.&#xA0;Revenue is
 recorded as performance obligations are satisfied over time because
 the customers simultaneously receive and consume the benefits of
 the services rendered, measured using an output method. Revenue for
 variable consideration is recognized to the extent that it is
 highly probable that a significant reversal in the amount of
 cumulative revenue recognized will not occur when the uncertainty
 is subsequently resolved.&#xA0;Refer to Note 14.</p>
 </div><span></span>
</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834712992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting and Reporting Changes<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 2&#xA0;&#xA0;&#xA0;&#xA0;Accounting
 and Reporting Changes</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Changes in accounting
 policy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(I) IFRS 15 &#x201C;Revenue from Contracts
 with Customers&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company adopted IFRS 15
 &#x201C;Revenue from Contracts with Customers&#x201D; which was
 issued In May 2014, and replaces IAS 11 &#x201C;Construction
 Contracts,&#x201D; IAS 18 &#x201C;Revenue&#x201D; and several
 interpretations. Amendments to IFRS 15 were issued in April 2016.
 IFRS 15 clarifies revenue recognition principles, provides a robust
 framework for recognizing revenue and cash flows arising from
 contracts with customers and enhances qualitative and quantitative
 disclosure requirements. IFRS 15 does not apply to insurance
 contracts, financial instruments and lease contracts. The Company
 adopted IFRS 15 using the modified retrospective method with no
 restatement of comparative information.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s service arrangements are generally satisfied
 over time, with revenue measured and collected from customers
 within a short term, as services are rendered.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Adoption of IFRS 15 did not have a significant impact or result in
 transitional adjustments on the Company&#x2019;s Consolidated
 Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(II) IFRS 9 &#x201C;Financial
 Instruments&#x201D; and Amendments to IFRS 4 &#x201C;Insurance
 Contracts&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company adopted the amendments
 to IFRS 4 &#x201C;Insurance Contracts&#x201D; issued in September
 2016. IFRS 9 &#x201C;Financial Instruments&#x201D; replaced IAS 39
 &#x201C;Financial Instruments: Recognition and Measurement&#x201D;
 and resulted in revisions to classification and measurement,
 impairment of financial assets, and hedge accounting.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 To address concerns about differing effective dates of IFRS 9
 &#x201C;Financial Instruments&#x201D; which is effective on
 January&#xA0;1, 2018 and IFRS 17 &#x201C;Insurance Contracts&#x201D;
 which is effective on January&#xA0;1, 2021, amendments to IFRS 4
 &#x201C;Insurance Contracts&#x201D; provides companies whose
 activities are predominantly related to insurance an optional
 temporary exemption from applying IFRS 9 until January&#xA0;1,
 2021. Adoption of these amendments enabled the Company to defer the
 adoption of IFRS 9 and continue to apply IAS 39 until
 January&#xA0;1,&#xA0;2021.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In November 2018, the IASB tentatively decided to defer the fixed
 expiry date for the temporary exemption in IFRS 4 from applying
 IFRS 9 by one year for companies whose activities are predominantly
 related to insurance. MFC&#x2019;s activities are predominantly
 related to insurance. The proposed deferral is subject to IASB
 public consultation in 2019 which is expected to result in an
 exposure draft followed by a public comment period. The Company
 will continue to monitor IASB&#x2019;s future developments related
 to the deferral.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In order to compare with entities applying IFRS 9, the amendments
 to IFRS 4 require deferring entities to disclose additional
 information regarding the contractual cashflows characteristics and
 credit exposure of their financial statements. Deferring entities
 must disclose which financial assets have contractual terms that
 are solely payments of principal and interest on principal
 outstanding (&#x201C;SPPI&#x201D;). Adoption of these disclosure
 requirements did not have a significant impact on the
 Company&#x2019;s Consolidated Financial Statements. Refer to
 note&#xA0;3(a).</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(III) Amendments to IFRS 2
 &#x201C;Share-Based Payment&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company adopted amendments to
 IFRS 2 &#x201C;Share-Based Payment&#x201D;, issued in June 2016.
 These amendments were applied prospectively. The amendments clarify
 the effects of vesting and&#xA0;<font style="WHITE-SPACE: nowrap">non-vesting</font>&#xA0;conditions
 on the measurement of cash-settled share-based payments; provide
 guidance on the classification of share-based payment transactions
 with net settlement features for withholding tax obligations; and
 clarify accounting for modification to the terms and conditions of
 a share-based payment that changes the classification of the
 transaction from cash-settled to equity-settled. Adoption of these
 amendments did not have a significant impact on the Company&#x2019;s
 Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(IV) IFRIC 22 &#x201C;Foreign Currency
 Transactions and Advance Consideration&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company adopted IFRIC 22
 &#x201C;Foreign Currency Transactions and Advance
 Consideration&#x201D;, issued in December 2016. IFRIC 22 was applied
 prospectively. IFRIC 22 addresses which foreign exchange rate to
 use to measure a foreign currency transaction when advance payments
 are made or received and&#xA0;<font style="WHITE-SPACE: nowrap">non-monetary</font>&#xA0;assets
 or liabilities are recognized prior to recognition of the
 underlying transaction. IFRIC 22 does not relate to goods or
 services accounted for at fair value or at the fair value of
 consideration paid or received at a date other than the date of
 initial recognition of the&#xA0;<font style="WHITE-SPACE: nowrap">non-monetary</font>&#xA0;asset
 or liability, or to income taxes, insurance contracts or
 reinsurance contracts. The foreign exchange rate on the day of the
 advance payment is used to measure the foreign currency
 transaction. If multiple advance payments are made or received,
 each payment is measured separately. Adoption of IFRIC 22 did not
 have a significant impact on the Company&#x2019;s Consolidated
 Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(V) Annual improvements to IFRS Standards
 2014-2016 Cycle</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company adopted amendments
 issued within the Annual Improvements to IFRS Standards 2014-2016
 Cycle, as issued by the IASB in December 2016. Minor amendments as
 part of this cycle were effective in 2017 and were adopted by the
 Company in that year, with remaining amendments being effective
 January&#xA0;1, 2018. The amendments were applied retrospectively.
 Adoption of these amendments did not have a significant impact on
 the Company&#x2019;s Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Future accounting and reporting
 changes</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(I) IFRS 9 &#x201C;Financial
 Instruments&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRS 9 &#x201C;Financial Instruments&#x201D; was issued in November
 2009 and amended in October 2010, November 2013 and July 2014, and
 is effective for years beginning on or after January&#xA0;1, 2018,
 to be applied retrospectively, or on a modified retrospective
 basis. Additionally, the IASB issued amendments in October 2017
 that are effective for annual periods beginning on or after
 January&#xA0;1, 2019. The standard is intended to replace IAS 39
 &#x201C;Financial Instruments: Recognition and
 Measurement&#x201D;.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The project has been divided into three phases: classification and
 measurement, impairment of financial assets, and hedge accounting.
 IFRS 9&#x2019;s current classification and measurement methodology
 provides that financial assets are measured at either amortized
 cost or fair value on the basis of the entity&#x2019;s business
 model for managing the financial assets and the contractual cash
 flow characteristics of the financial assets. The classification
 and measurement for financial liabilities remains generally
 unchanged; however, for a financial liability designated as at fair
 value through profit or loss, revisions have been made in the
 accounting for changes in fair value attributable to changes in the
 credit risk of that liability. Gains or losses caused by changes in
 an entity&#x2019;s own credit risk on such liabilities are no longer
 recognized in profit or loss but instead are reflected in OCI.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Revisions to hedge accounting were issued in November 2013 as part
 of the overall IFRS 9 project. The amendment introduces a new hedge
 accounting model, together with corresponding disclosures about
 risk management activity for those applying hedge accounting. The
 new model represents a substantial overhaul of hedge accounting
 that will enable entities to better reflect their risk management
 activities in their financial statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Revisions issued in July 2014 replace the existing incurred loss
 model used for measuring the allowance for credit losses with an
 expected loss model. Changes were also made to the existing
 classification and measurement model designed primarily to address
 specific application issues raised by early adopters of the
 standard. They also address the income statement accounting
 mismatches and short-term volatility issues which have been
 identified as a result of the insurance contracts project.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company elected to defer IFRS 9 until January&#xA0;1, 2021 as
 allowed under the amendments to IFRS 4 &#x201C;Insurance
 Contracts&#x201D; outlined above. The Company is assessing the
 impact of this standard.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(II) IFRS 16
 &#x201C;Leases&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRS 16 &#x201C;Leases&#x201D; was issued in January 2016 and is
 effective for years beginning on or after January&#xA0;1, 2019. It
 will replace IAS 17 &#x201C;Leases&#x201D; and IFRIC 4
 &#x201C;Determining whether an arrangement contains a lease&#x201D;.
 The Company will adopt IFRS 16 effective January&#xA0;1,&#xA0;2019,
 on a modified retrospective basis with no restatement of
 comparative information.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRS 16 sets out the principles for the recognition, measurement,
 presentation and disclosure of leases for both parties to a
 contract. The standard brings most
 leases&#xA0;<font style="WHITE-SPACE: nowrap">on-balance</font>&#xA0;sheet for
 lessees under a single model, eliminating the previous
 classifications of operating and finance leases. Exemptions to this
 treatment are for lease contracts with low value assets or leases
 with duration of less than one year.
 The&#xA0;<font style="WHITE-SPACE: nowrap">on-balance</font>&#xA0;sheet
 treatment will result in a grossing up of the balance sheet due
 to&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">right-of-use</font></font>&#xA0;assets
 being recognized with offsetting liabilities. Lessor accounting
 will remain largely unchanged with previous classifications of
 operating and finance leases being maintained.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Adoption of IFRS 16 is not expected to have a significant impact on
 the Company&#x2019;s Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(III) IFRS Interpretation Committee
 (&#x201C;IFRIC&#x201D;) Interpretation 23 &#x201C;Uncertainty over
 Income Tax Treatments&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRIC 23 &#x201C;Uncertainty over Income Tax Treatments&#x201D; was
 issued in June 2017 and is effective for years beginning on or
 after January&#xA0;1,&#xA0;2019, to be applied retrospectively.
 IFRIC 23 provides guidance on applying the recognition and
 measurement requirements in IAS 12 when there is uncertainty over
 income tax treatments including whether uncertain tax treatments
 should be considered together or separately based on which approach
 better predicts resolution of the uncertainty. Adoption of IFRIC 23
 is not expected to have a significant impact on the Company&#x2019;s
 Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(IV) Amendments to IAS 28
 &#x201C;Investments in Associates and Joint
 Ventures&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Amendments to IAS 28 &#x201C;Investments in Associates and Joint
 Ventures&#x201D; were issued in October 2017 and are effective for
 annual periods beginning on or after January&#xA0;1, 2019, to be
 applied retrospectively. The amendments clarify that an entity
 applies IFRS 9 &#x201C;Financial Instruments&#x201D; to financial
 interests in an associate or joint venture to which the equity
 method is not applied. IAS 39 will be applied to these interests
 until IFRS 9 is adopted. Adoption of these amendments is not
 expected to have a significant impact on the Company&#x2019;s
 Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(V) Annual Improvements 2015&#x2013;2017
 Cycle</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Annual Improvements 2015 &#x2013; 2017 Cycle was issued in December
 2017 and is effective for years beginning on or after
 January&#xA0;1,&#xA0;2019. The IASB issued three minor amendments
 to different standards as part of the Annual Improvements process,
 with the amendments to be applied prospectively. Adoption of these
 amendments is not expected to have significant impact on the
 Company&#x2019;s Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(VI) Amendments to IAS 19 &#x201C;Employee
 Benefits&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Amendments to IAS 19 &#x201C;Employee Benefits&#x201D; were issued in
 February 2018 and are effective for annual periods beginning on or
 after January&#xA0;1, 2019, with earlier application permitted. The
 amendments address the accounting for a plan amendment, curtailment
 or settlement that occurs within a reporting period. Updated
 actuarial assumptions must be used to determine current service
 cost and net interest for the remainder of the reporting period
 after such an event.&#xA0;The amendments also address how the
 accounting for asset ceilings are affected by such an
 event.&#xA0;Adoption of these amendments is not expected to have a
 significant impact on the Company&#x2019;s Consolidated Financial
 Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(VII) Amendments to IFRS 3 &#x201C;Business
 Combinations&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Amendments to IFRS 3 &#x201C;Business Combinations&#x201D; were
 issued in October 2018 and are effective for business combinations
 occurring on or after January&#xA0;1, 2020, with earlier
 application permitted. The amendments revise the definition of a
 business and provide a simplified assessment of whether an acquired
 set of activities and assets qualifies as a business. Application
 of the amendments are expected to result in fewer acquisitions
 qualifying as business combinations. Adoption of these amendments
 is not expected to have a significant impact on the Company&#x2019;s
 Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(VIII) Amendments to IAS 1
 &#x201C;Presentation of Financial Statements&#x201D; and IAS 8
 &#x201C;Accounting Policies, Changes in Accounting Estimates and
 Errors&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Amendments to IAS 1 &#x201C;Presentation of Financial
 Statements&#x201D; and IAS 8 &#x201C;Accounting Policies, Changes in
 Accounting Estimates and Errors&#x201D; were issued in October 2018.
 The amendments are effective for annual periods beginning on or
 after January&#xA0;1, 2020 and are to be applied prospectively. The
 amendments update the definition of material. Adoption of these
 amendments is not expected to have a significant impact on the
 Company&#x2019;s Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(IX) IFRS 17 &#x201C;Insurance
 Contracts&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRS 17 was issued in May 2017 and is effective for years beginning
 on January&#xA0;1, 2021, to be applied retrospectively. If full
 retrospective application to a group of contracts is impractical,
 the modified retrospective or fair value methods may be used. The
 standard will replace IFRS 4 &#x201C;Insurance Contracts&#x201D; and
 will materially change the recognition and measurement of insurance
 contracts and the corresponding presentation and disclosures in the
 Company&#x2019;s Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In November 2018, the IASB tentatively decided to defer the
 effective date of IFRS 17 by one year. The proposed deferral is
 subject to IASB public consultation in 2019 which is expected to
 result in an exposure draft followed by a public comment period.
 The Company will continue to monitor IASB&#x2019;s future
 developments related to IFRS 17.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRS 17 requires entities to measure insurance contract liabilities
 on the balance sheet as the total of (a)&#xA0;the fulfillment cash
 flows &#x2013; the current estimates of amounts that the Company
 expects to collect from premiums and pay out for claims, benefits
 and expenses, including an adjustment for the timing and risk for
 those amounts; and (b)&#xA0;the contractual service margin &#x2013;
 the future profit for providing insurance coverage.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The principles underlying IFRS 17 differ from the CALM as permitted
 by IFRS&#xA0;4.&#xA0;While there are many differences, the
 following outlines two of the key differences:</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Under IFRS 17 the discount rate used to estimate the
 present value of insurance liabilities is based on the
 characteristics of the liability, whereas under CALM, the Company
 uses the rates of returns for current and projected assets
 supporting policy liabilities to value the liabilities. The
 difference in the discount rate approach also impacts the timing of
 investment-related experience earnings emergence. Under CALM,
 investment-related experience includes investment experience and
 the impact of investing activities. The impact of investing
 activities is directly related to the CALM methodology. Under IFRS
 17 the impact of investing activities will emerge over the life of
 the new asset.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Under IFRS 17 new business gains are recorded on the
 Consolidated Statements of Financial Position and amortized into
 income as services are provided.&#xA0;Under CALM new business gains
 (and losses) are recognized in income immediately.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company is assessing the implications of this standard and
 expects that it will have a significant impact on the
 Company&#x2019;s Consolidated Financial Statements. In addition, in
 certain jurisdictions, including Canada, it could have a material
 effect on tax and regulatory capital positions and other financial
 metrics that are dependent upon IFRS accounting values.</p>
 </div><span></span>
</td>
</tr>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Invested Assets and Investment Income<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 3&#xA0;&#xA0;&#xA0;&#xA0;Invested
 Assets and Investment Income</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Carrying values and fair values of
 invested assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">FVTPL<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">AFS<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total&#xA0;carrying<br />
 value<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total fair<br />
 value<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and short-term securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,080</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,163</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,972</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,215</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,215</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(7)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,342</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23,787</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23,787</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,990</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>25,924</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>25,924</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,159</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,101</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>20,260</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>20,260</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>107,425</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;112,670</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>112,670</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,774</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,953</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,953</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,721</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,458</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,363</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,363</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,628</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,754</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,754</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>36,103</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,793</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,793</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,797</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Own use property<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(8)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,016</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,016</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Investment property</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Alternative long-duration assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(9),(10)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,720</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>101</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,617</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23,438</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24,211</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Various other<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">&#xA0;(11)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>151</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,954</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,105</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,104</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total invested assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;187,409</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;43,579</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;122,676</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>353,664</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;356,217</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">FVTPL<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">AFS<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">Other<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br /></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">Total&#xA0;carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br /></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">Total fair<br />
 value<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and short-term securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">439</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">11,429</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,097</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">15,965</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">15,965</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(7)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,886</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,892</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22,778</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22,778</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,497</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,472</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">25,969</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">25,969</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,838</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,988</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,826</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,826</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">96,785</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,366</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">102,151</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">102,151</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,018</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">258</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,276</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,276</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,473</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,072</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">21,545</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">21,545</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">44,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">44,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">46,065</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">32,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">32,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">34,581</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,737</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,737</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Own use property<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(8)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,281</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,281</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,448</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Investment property</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Alternative long-duration assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(9),(10)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,018</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">88</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8,624</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">20,730</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">21,053</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Various other<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">&#xA0;(11)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">142</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,611</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,753</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,752</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total invested assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">178,096</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">41,565</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">114,561</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">334,222</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">339,488</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">FVTPL classification was elected for securities
 backing insurance contract liabilities to substantially reduce any
 accounting mismatch arising from changes in the fair value of these
 assets and changes in the value of the related insurance contract
 liabilities. If this election had not been made and instead the AFS
 classification was selected, there would be an accounting mismatch
 because changes in insurance contract liabilities are recognized in
 net income rather than in OCI.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Securities that are designated as AFS are not actively
 traded by the Company but sales do occur as circumstances warrant.
 Such sales result in a reclassification of any accumulated
 unrealized gain (loss) in AOCI to net income as a realized gain
 (loss).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Primarily includes assets classified as loans and
 carried at amortized cost, own use properties, investment
 properties, equity method accounted investments, oil and gas
 investments, and leveraged leases. Refer to note 1(e) for further
 details regarding accounting policy.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fixed income invested assets presented above include
 debt securities, mortgages, private placements and approximately
 $600 other invested assets, which primarily have contractual cash
 flows that qualify as SPPI. Fixed income invested assets which do
 not have SPPI qualifying cash flows as at December&#xA0;31, 2018
 include debt securities, private placements and other invested
 assets with fair values of $105, $230 and $465, respectively. The
 change in the fair value of these invested assets during the year
 amounts to $21.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The methodologies used in determining fair values of
 invested assets are described in note 1(c) and note 3(g).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes short-term securities with maturities of less
 than one year at acquisition amounting to $2,530 (2017 &#x2013;
 $2,737), cash equivalents with maturities of less than 90 days at
 acquisition amounting to $8,713 (2017 &#x2013; $9,131) and cash of
 $4,972 (2017 &#x2013; $4,097).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(7)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Debt securities include securities which were acquired
 with maturities of less than one year and less than 90 days of $870
 and $40, respectively (2017 &#x2013; $1,768 and $161,
 respectively).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(8)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes accumulated depreciation of $391 (2017
 &#x2013; $389).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(9)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Alternative long-duration assets (&#x201C;ALDA&#x201D;)
 include investments in private equity of $6,769, power and
 infrastructure of $7,970, oil and gas of $3,416, timber and
 agriculture of $4,493 and various other invested assets of $791
 (2017 &#x2013; $4,959, $7,355, $2,813, $5,033 and $570,
 respectively). Included in power and infrastructure are a group of
 investments in hydro-electric power of $426 for which the Company
 has an approved plan of sale. Sale of these investments is expected
 to be completed within one year. This disposal group is classified
 as held for sale and measured at the lower of carrying amount and
 fair value less costs to sell.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(10)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">During 2018, the Company sold the following invested
 assets to related parties: $1,422 of power and infrastructure ALDA
 to the John Hancock Infrastructure Master Fund L.P. in the U.S. an
 associate of the Company which is a structured entity based on
 partnership voting rights, the Company provides management services
 to the fund and owns less than 1% of the ownership interest; $510
 (2017 &#x2013; $395) of U.S. commercial real estate to the Manulife
 US Real Estate Investment Trust in Singapore, an associate of the
 Company which is a structured entity based on unitholder voting
 rights, the Company provides management services to the trust and
 owns approximately 8.5% (2017 &#x2013; 9.5%) of its units; and
 $1,314 of U.S. commercial real estate to three newly established
 joint ventures which are structured entities based on voting
 rights. During 2017, $619 of U.S. commercial real estate was sold
 to the Hancock US Real Estate Fund, L.P., an associate of the
 Company which is a structured entity based on partnership voting
 rights. The Company provides management services to the fund and
 owns approximately 11.7% of its partnership interests.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(11)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes $3,575 (2017 &#x2013; $3,273) of leveraged
 leases. Refer to note 1(e) regarding accounting policy.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Equity method accounted invested
 assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Other invested assets include investments in associates and joint
 ventures which are accounted for using the equity method of
 accounting as presented in the following table.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="8"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">% of total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">% of total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Leveraged leases</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,575</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>51</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;3,273</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">56</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Timber and agriculture</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>599</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">451</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>725</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">498</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,959</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>29</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,535</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">27</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,858</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>100</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">5,757</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">100</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s share of profit and dividends from these
 investments for the year ended December&#xA0;31, 2018 were $369 and
 $13, respectively (2017 &#x2013; $291 and $14, respectively).</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Investment income</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="67%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">FVTPL</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">AFS</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Other<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and short-term securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>268</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(74</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>62</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(12</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;5,432</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>646</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,078</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(5,993</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(310</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(6,303</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Recovery (impairment loss), net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Dividend income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>484</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>556</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,596</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>330</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,266</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(43</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(43</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,824</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,824</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Provision, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,729</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,729</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>371</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>371</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>81</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>81</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Provision, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Rental income, net of depreciation<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>515</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>515</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivatives</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>689</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(33</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>656</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,251</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,224</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>74</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>74</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Oil and gas, timber, agriculture and other income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,758</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,758</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>283</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(110</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>173</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss, net</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(114</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(120</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total investment income</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,992</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,003</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,521</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,532</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,139</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>896</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,046</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,081</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Dividend, rental and other income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>484</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,273</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,829</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairments, provisions and recoveries, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>16</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(47</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(133</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(164</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(271</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>58</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(186</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,368</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>979</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,213</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,560</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Realized and unrealized gains (losses) on assets supporting
 insurance and investment contract liabilities and on macro equity
 hedges</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(6,012</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(5,994</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Public equities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,454</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,444</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>55</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>55</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>449</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>449</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>357</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(140</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>213</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Derivatives, including macro equity hedging program</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,251</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,224</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9,360</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>24</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>308</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(9,028</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total investment income</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,992</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,003</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;6,521</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,532</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 8px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="66%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">FVTPL</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">AFS</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Other<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and short-term securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">153</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">160</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(47</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(25</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,102</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">577</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,679</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,690</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(205</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,485</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Recovery (impairment loss), net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Dividend income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">524</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">79</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">603</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,372</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">226</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,598</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(14</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(14</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,685</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,685</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">69</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">69</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Provision, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(32</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(32</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,553</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,553</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">43</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">43</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">365</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">365</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">68</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">68</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Rental income, net of depreciation<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">517</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">517</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">341</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">341</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivatives</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">809</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">84</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">893</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,029</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">84</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(945</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">174</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">174</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Oil and gas, timber, agriculture and other income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,690</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,690</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">441</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">50</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">484</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss, net</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(45</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(45</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total investment income</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">11,954</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">761</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">6,652</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">19,367</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">5,918</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">730</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3,929</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">10,577</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Dividend, rental and other income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">524</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">79</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,207</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,810</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairments, provisions and recoveries, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(15</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(71</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(70</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">460</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(51</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(77</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">332</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">6,918</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">743</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,988</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">13,649</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Realized and unrealized gains (losses) on assets supporting
 insurance and investment contract liabilities and on macro equity
 hedges</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Debt securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,694</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(8</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,686</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Public equities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,200</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,235</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Mortgages</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">69</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">69</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Real estate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">350</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">350</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">329</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(9</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">121</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">441</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Derivatives, including macro equity hedging program</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,187</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">84</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,103</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,036</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">18</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">664</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,718</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total investment income</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">11,954</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">761</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">6,652</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">19,367</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Primarily includes investment income on loans carried
 at amortized cost, own use properties, investment properties,
 derivative and hedging instruments in cash flow hedging
 relationships, equity method accounted investments, oil and gas
 investments, and leveraged leases.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes net realized and unrealized gains (losses)
 for financial instruments at FVTPL, real estate investment
 properties, and other invested assets measured at fair value. Also
 includes net realized gains (losses) for financial instruments at
 AFS and other invested assets carried at amortized cost.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Rental income from investment properties is net of
 direct operating expenses.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(d) Investment expenses</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the Company&#x2019;s total investment
 expenses.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="83%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Related to invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>638</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">625</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Related to segregated, mutual and other funds</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,070</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,048</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total investment expenses</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,708</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;1,673</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(e) Investment properties</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the rental income and direct operating
 expenses of investment properties.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="83%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Rental income from investment properties</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,013</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;1,120</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Direct operating expenses of rental investment properties</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(582</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(694</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>431</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">426</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(f) Mortgage securitization</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company securitizes certain insured and uninsured fixed and
 variable rate residential mortgages and Home Equity Lines of Credit
 (&#x201C;HELOC&#x201D;) through creation of mortgage-backed
 securities under the Canadian Mortgage Bond Program
 (&#x201C;CMB&#x201D;), and the HELOC securitization program.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Benefits received from the securitization include interest spread
 between the asset and associated liability. There are no expected
 credit losses on securitized mortgages under the Canada Mortgage
 and Housing Corporation (&#x201C;CMHC&#x201D;) sponsored CMB and the
 Platinum Canadian Mortgage Trust (&#x201C;PCMT&#x201D;) HELOC
 securitization programs as they are insured by CMHC and other
 third-party insurance programs against borrowers&#x2019; default.
 Mortgages securitized in the Platinum Canadian Mortgage Trust II
 (&#x201C;PCMT II&#x201D;) program are uninsured.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Cash flows received from the underlying securitized
 assets/mortgages are used to settle the related secured borrowing
 liability. For CMB transactions, receipts of principal are
 deposited into a trust account for settlement of the liability at
 time of maturity. These transferred assets and related cash flows
 cannot be transferred or used for other purposes. For the HELOC
 transactions, investors are entitled to periodic interest payments,
 and the remaining cash receipts of principal are allocated to the
 Company (the &#x201C;Seller&#x201D;) during the revolving period of
 the deal and are accumulated for settlement during an accumulation
 period or repaid to the investor monthly during a reduction period,
 based on the terms of the note.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Securitized assets and secured borrowing
 liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="54%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="8%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom"><font color="#1F320C"><b>As at
 December&#xA0;31, 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" nowrap="nowrap" align="center">Securitized assets</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 Securitization program</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Securitized<br />
 mortgages</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Restricted cash and<br />
 short-term securities</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Secured borrowing<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 HELOC securitization<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,285</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,293</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;2,250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 CMB securitization</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,525</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,525</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,524</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,810</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>$&#xA0;&#xA0;8</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,818</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;3,774</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="12"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom" nowrap="nowrap"><font color="#1F320C"><b>As at
 December&#xA0;31, 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="10" nowrap="nowrap" align="center">Securitized assets</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 Securitization program</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Securitized<br />
 mortgages</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Restricted cash and<br />
 short-term securities</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Secured borrowing<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 HELOC securitization<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;2,024</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">$&#xA0;&#xA0;8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;2,032</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">$&#xA0;&#xA0;2,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 CMB securitization</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,480</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,480</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,523</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">3,504</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">$&#xA0;&#xA0;8</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">3,512</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">$&#xA0;&#xA0;3,523</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Manulife Bank, a MFC subsidiary, securitizes a portion
 of its HELOC receivables through Platinum Canadian Mortgage Trust
 (&#x201C;PCMT&#x201D;), and Platinum Canadian Mortgage Trust II
 (&#x201C;PCMT II&#x201D;). PCMT funds the purchase of
 the&#xA0;<font style="WHITE-SPACE: nowrap">co-ownership</font>&#xA0;interests
 from Manulife Bank by issuing term notes collateralized by an
 underlying pool of CMHC insured HELOCs to institutional investors.
 PCMT II funds the purchase of the&#xA0;<font style="WHITE-SPACE: nowrap">co-ownership</font>&#xA0;interests
 from Manulife Bank by issuing term notes collateralized by an
 underlying pool of uninsured HELOCs to institutional investors. The
 restricted cash balance for the HELOC securitization reflects a
 cash reserve fund established in relation to the transactions. The
 reserve will be drawn upon only in the event of insufficient cash
 flows from the underlying HELOCs to satisfy the secured borrowing
 liability.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Secured borrowing liabilities primarily comprise of
 Series&#xA0;<font style="WHITE-SPACE: nowrap">2011-1</font>&#xA0;notes with a
 floating rate which are expected to mature on December&#xA0;15,
 2021, and the Series&#xA0;<font style="WHITE-SPACE: nowrap">2016-1</font>&#xA0;notes with a
 floating rate which are expected to mature on May&#xA0;15, 2022.
 Manulife Bank also securitizes insured amortizing mortgages under
 the National Housing Act Mortgage-Backed Securities (&#x201C;NHA
 MBS&#x201D;) program sponsored by CMHC. Manulife Bank participates
 in CMB programs by selling NHA MBS securities to Canada Housing
 Trust (&#x201C;CHT&#x201D;), as a source of fixed rate funding.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 As at December&#xA0;31, 2018, the fair value of the securitized
 assets was $3,843 (2017 &#x2013; $3,533) and the associated
 liabilities was $3,756 (2017 &#x2013; $3,503).</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(g) Fair value measurement</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the fair values of invested assets and
 segregated funds net assets measured at fair value categorized by
 the fair value hierarchy.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="61%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total fair<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,080</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,080</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,163</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,163</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,972</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,972</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Debt securities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <b>FVTPL</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,159</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,979</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>180</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>107,425</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>106,641</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>784</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>13</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,344</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,344</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other securitized assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,417</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,417</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <b>AFS</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,342</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,342</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,990</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,990</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,101</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,064</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,125</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>120</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>128</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>128</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other securitized assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>49</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>49</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Public equities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,721</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,718</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,458</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,456</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Real estate &#x2013; investment property<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(</sup><sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">1)</sup></b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Other invested assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,562</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,562</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Segregated funds net assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>313,209</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>276,178</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>32,584</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,447</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;562,520</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;300,324</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;228,293</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;33,903</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total fair<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">439</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">439</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,429</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,429</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,097</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,097</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Debt securities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <b>FVTPL</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,886</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,886</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,497</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,497</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,838</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,599</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">239</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">96,785</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">96,073</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">710</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,099</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,099</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other securitized assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,911</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,886</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">25</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <b>AFS</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,892</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,892</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,472</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,472</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,988</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,941</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,366</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,278</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">88</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">37</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">37</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">138</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">138</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other securitized assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">83</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">82</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Public equities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,473</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,470</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,072</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,069</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Real estate &#x2013; investment property<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Other invested assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,203</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,203</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Segregated funds net assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(</sup><sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">3)</sup></b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">324,307</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">286,490</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">33,562</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,255</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;564,549</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;312,128</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;218,320</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;34,101</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">For investment properties, the significant
 unobservable inputs are capitalization rates (ranging from 2.75% to
 8.75% during the year and ranging from 3.50% to 9.00% during 2017)
 and terminal capitalization rates (ranging from 3.65% to 9.25%
 during the year and ranging from 4.0% to 9.25% during 2017).
 Holding other factors constant, a lower capitalization or terminal
 capitalization rate will tend to increase the fair value of an
 investment property. Changes in fair value based on variations in
 unobservable inputs generally cannot be extrapolated because the
 relationship between the directional changes of each input is not
 usually linear.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other invested assets measured at fair value are held
 primarily in power and infrastructure and timber sectors. The
 significant inputs used in the valuation of the Company&#x2019;s
 power and infrastructure investments are primarily future
 distributable cash flows, terminal values and discount rates.
 Holding other factors constant, an increase to future distributable
 cash flows or terminal values would tend to increase the fair value
 of a power and infrastructure investment, while an increase in the
 discount rate would have the opposite effect. Discount rates during
 the year ranged from 8.95% to 16.5% (2017 &#x2013; ranged from 9.20%
 to 16.5%). Disclosure of distributable cash flow and terminal value
 ranges are not meaningful given the disparity in estimates by
 project. The significant inputs used in the valuation of the
 Company&#x2019;s investments in timberland are timber prices and
 discount rates. Holding other factors constant, an increase to
 timber prices would tend to increase the fair value of a timberland
 investment, while an increase in the discount rates would have the
 opposite effect. Discount rates during the year ranged from 5.0% to
 7.0% (2017 &#x2013; ranged from 5.0% to 7.5%). A range of prices for
 timber is not meaningful as the market price depends on factors
 such as property location and proximity to markets and export
 yards.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Segregated funds net assets are measured at fair
 value. The Company&#x2019;s Level&#xA0;3 segregated funds assets are
 predominantly invested in investment properties and timberland
 properties valued as described above.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Fair value and the fair value hierarchy of invested assets not
 measured at fair value.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="56%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,363</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,628</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,628</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,754</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>36,103</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,325</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,778</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,793</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,797</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,797</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate &#x2013; own use property<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,016</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9,981</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,753</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>121</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,632</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total invested assets disclosed at fair value</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;104,353</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;106,906</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>121</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;38,568</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;68,217</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;<br /></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">Carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">44,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">46,065</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">46,065</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">32,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">34,581</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">28,514</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,067</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,737</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate &#x2013; own use property<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,281</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,448</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,448</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">8,280</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">8,602</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">88</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">8,514</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total invested assets disclosed at fair value</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;93,980</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;99,246</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">88</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;36,064</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;63,094</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fair value of commercial mortgages is determined
 through an internal valuation methodology using both observable and
 unobservable inputs. Unobservable inputs include credit assumptions
 and liquidity spread adjustments. Fair value of fixed-rate
 residential mortgages is determined using the discounted cash flow
 method. Inputs used for valuation are primarily comprised of
 prevailing interest rates and prepayment rates, if applicable. Fair
 value of variable-rate residential mortgages is assumed to be their
 carrying value.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fair value of private placements is determined through
 an internal valuation methodology using both observable and
 unobservable inputs. Unobservable inputs include credit assumptions
 and liquidity spread adjustments. Private placements are classified
 within Level&#xA0;2 unless the liquidity adjustment constitutes a
 significant price impact, in which case the securities are
 classified as Level&#xA0;3.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fair value of policy loans is equal to their unpaid
 principal balances.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fair value of fixed-rate loans to Bank clients is
 determined using the discounted cash flow method. Inputs used for
 valuation are primarily comprised of current interest rates. Fair
 value of variable-rate loans is assumed to be their carrying
 value.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fair value of own use real estate and the fair value
 hierarchy are determined in accordance with the methodologies
 described for real estate &#x2013; investment property in
 note&#xA0;1.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Primarily include leveraged leases, oil and gas
 properties and equity method accounted other invested assets. Fair
 value of leveraged leases is disclosed at their carrying values as
 fair value is not routinely calculated on these investments. Fair
 value for oil and gas properties is determined using external
 appraisals based on discounted cash flow methodology. Inputs used
 in valuation are primarily comprised of forecasted price curves,
 planned production, as well as capital expenditures, and operating
 costs. Fair value of equity method accounted other invested assets
 is determined using a variety of valuation techniques including
 discounted cash flows and market comparable approaches. Inputs vary
 based on the specific investment.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Transfers between Level&#xA0;1 and
 Level&#xA0;2</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company records transfers of assets and liabilities between
 Level&#xA0;1 and Level&#xA0;2 at their fair values as at the end of
 each reporting period. Assets are transferred out of Level&#xA0;1
 when they are no longer transacted with sufficient frequency and
 volume in an active market. Conversely, assets are transferred from
 Level&#xA0;2 to Level&#xA0;1 when transaction volume and frequency
 are indicative of an active market. The Company had $nil of assets
 transferred between Level&#xA0;1 and Level&#xA0;2 during the years
 ended December&#xA0;31,&#xA0;2018 and 2017.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 For segregated funds net assets, the Company had $nil transfers
 from Level&#xA0;1 to Level&#xA0;2 for the year ended
 December&#xA0;31, 2018 (2017&#xA0;&#x2013; $nil). The Company had $2
 transfers from Level&#xA0;2 to Level&#xA0;1 for the year ended
 December&#xA0;31, 2018 (2017 &#x2013; $5).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Invested assets and segregated funds net
 assets measured at fair value using significant unobservable inputs
 (Level 3)</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company classifies fair values of invested assets and
 segregated funds net assets as Level&#xA0;3 if there are no
 observable markets for these assets or, in the absence of active
 markets, most of the inputs used to determine fair value are based
 on the Company&#x2019;s own assumptions about market participant
 assumptions. The Company prioritizes the use of market-based inputs
 over entity-based assumptions in determining Level&#xA0;3 fair
 values. The gains and losses in the tables below include the
 changes in fair value due to both observable and unobservable
 factors.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following tables present a roll forward for invested assets and
 segregated funds net assets measured at fair value using
 significant unobservable inputs (Level 3) for the years ended
 December&#xA0;31, 2018 and 2017.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="37%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended<br />
 December&#xA0;31, 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Balance,<br />
 January&#xA0;1,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net<br />
 realized/<br />
 unrealized<br />
 gains<br />
 (losses)<br />
 included<br />
 in net<br />
 income<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net<br />
 realized/<br />
 unrealized<br />
 gains<br />
 (losses)<br />
 included<br />
 in AOCI<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Purchases</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Sales</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Settlements</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Transfer</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">into</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Level&#xA0;3<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Transfer</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">out of</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Level&#xA0;3<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Currency<br />
 movement</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"><b>Balance,<br />
 December&#xA0;31,<br />
 2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Change in<br />
 unrealized<br />
 gains<br />
 (losses) on<br />
 assets still<br />
 held</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Debt securities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>FVTPL</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other government&#xA0;&amp; agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>239</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(85</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>15</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>180</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>710</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>190</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(61</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(93</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>53</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>784</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other securitized assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>25</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>31</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(56</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>975</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>248</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(146</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(32</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(149</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>68</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>971</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>AFS</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other government&#xA0;&amp; agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>47</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(15</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>88</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>49</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(12</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>120</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other securitized assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>136</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>55</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(27</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>159</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Public equities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 FVTPL</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Real estate &#x2013; investment property</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,529</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>291</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>615</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,578</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(706</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>610</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>244</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Other invested assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>16,203</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(1,168</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,926</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,636</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(841</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(35</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,112</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>17,562</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(434</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>28,732</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(877</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,541</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4,214</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(841</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(741</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,722</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>28,323</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(190</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Segregated funds net assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,255</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>226</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>155</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(367</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(17</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>191</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,447</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>161</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;34,101</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(644</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;4,999</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(4,754</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(880</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(915</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,991</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;33,903</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(36</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="47%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
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 <td></td>
 <td></td>
 <td></td>
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 <td></td>
 <td></td>
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 <td valign="bottom" width="1%"></td>
 <td></td>
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 <td></td>
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 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Balance,<br />
 January&#xA0;1,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net<br />
 realized/<br />
 unrealized<br />
 gains<br />
 (losses)<br />
 included<br />
 in net<br />
 income<sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net<br />
 realized/<br />
 unrealized<br />
 gains<br />
 (losses)<br />
 included<br />
 in AOCI<sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Purchases</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Sales</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Settlements</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Transfer</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">into</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Level&#xA0;3<sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Transfer</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">out of</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Level&#xA0;3<sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Currency<br />
 movement</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Balance,<br />
 December&#xA0;31,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Change in<br />
 unrealized<br />
 gains<br />
 (losses) on<br />
 assets still<br />
 held</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Debt securities</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>FVTPL</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other government&#xA0;&amp; agency</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">272</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(3</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">26</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(58</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(6</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">239</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(3</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">651</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">105</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(34</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(29</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">24</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(21</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(5</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">710</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(5</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other securitized assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">35</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(7</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">25</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">966</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">15</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">131</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(97</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(43</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">24</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(21</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">975</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>AFS</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other government&#xA0;&amp; agency</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">51</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(15</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">74</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(10</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">88</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other securitized assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">130</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">36</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(26</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(8</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">136</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Public equities</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
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 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 FVTPL</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">7</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(4</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">7</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(4</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Real estate &#x2013; investment property</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,756</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">301</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,257</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,267</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(518</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">264</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Other invested assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">14,849</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">395</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,022</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(435</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(837</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(791</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">16,203</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">244</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">27,605</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">696</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,279</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,702</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(837</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,309</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">28,732</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">508</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Segregated funds net assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,574</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">60</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">261</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(248</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(54</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(184</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(154</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,255</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">45</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;33,282</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;770</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;4,707</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(2,077</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(942</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;25</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(205</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(1,460</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;34,101</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;558</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These amounts are included in net investment income on
 the Consolidated Statements of Income except for the amount related
 to segregated funds net assets, where the amount is recorded in
 changes in segregated funds net assets, refer to note&#xA0;22.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These amounts are included in AOCI on the Consolidated
 Statements of Financial Position.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
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 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">For assets transferred into and out of Level&#xA0;3,
 the Company uses fair values of the assets at the beginning of the
 year.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Transfers into Level&#xA0;3 primarily result from securities that
 were impaired during the year or securities where a lack of
 observable market data (versus the previous period) resulted in
 reclassifying assets into Level&#xA0;3. Transfers from Level&#xA0;3
 primarily result from observable market data now being available
 for the entire term structure of the debt security.</p>
 </div><span></span>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834413392">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative and Hedging Instruments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory', window );">Derivative and Hedging Instruments</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#2A517F"><b>Note 4&#xA0;&#xA0;&#xA0;&#xA0;Derivative
 and Hedging Instruments</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Derivatives are financial contracts, the value of which is derived
 from underlying interest rates, foreign exchange rates, other
 financial instruments, commodity prices or indices. The Company
 uses derivatives including swaps, forward and futures agreements,
 and options to manage current and anticipated exposures to changes
 in interest rates, foreign exchange rates, commodity prices and
 equity market prices, and to replicate permissible investments.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Swaps are <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">over-the-counter</font></font>
 (&#x201C;OTC&#x201D;) contractual agreements between the Company and
 a third party to exchange a series of cash flows based upon rates
 applied to a notional amount. For interest rate swaps,
 counterparties generally exchange fixed or floating interest rate
 payments based on a notional value in a single currency. Cross
 currency swaps involve the exchange of principal amounts between
 parties as well as the exchange of interest payments in one
 currency for the receipt of interest payments in another currency.
 Total return swaps are contracts that involve the exchange of
 payments based on changes in the values of a reference asset,
 including any returns such as interest earned on these assets, in
 return for amounts based on reference rates specified in the
 contract.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Forward and futures agreements are contractual obligations to buy
 or sell a financial instrument, foreign currency or other
 underlying commodity on a predetermined future date at a specified
 price. Forward contracts are OTC contracts negotiated between
 counterparties, whereas futures agreements are contracts with
 standard amounts and settlement dates that are traded on regulated
 exchanges.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Options are contractual agreements whereby the holder has the
 right, but not the obligation, to buy (call option) or sell (put
 option) a security, exchange rate, interest rate, or other
 financial instrument at a predetermined price/rate within a
 specified time.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 See variable annuity dynamic hedging strategy in the &#x201C;Risk
 Management&#x201D; section of the Company&#x2019;s 2018 MD&amp;A for
 an explanation of the Company&#x2019;s dynamic hedging strategy for
 its variable annuity product guarantees.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(a) Fair value of
 derivatives</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The pricing models used to value OTC derivatives are based on
 market standard valuation methodologies and the inputs to these
 models are consistent with what a market participant would use when
 pricing the instruments. Derivative valuations can be affected by
 changes in interest rates, currency exchange rates, financial
 indices, credit spreads, default risk (including the counterparties
 to the contract), and market volatility. The significant inputs to
 the pricing models for most OTC derivatives are inputs that are
 observable or can be corroborated by observable market data and are
 classified as Level&#xA0;2. Inputs that are observable generally
 include interest rates, foreign currency exchange rates and
 interest rate curves. However, certain OTC derivatives may rely on
 inputs that are significant to the fair value that are not
 observable in the market or cannot be derived principally from, or
 corroborated by, observable market data and these derivatives are
 classified as Level&#xA0;3. Inputs that are unobservable generally
 include broker quotes, volatilities and inputs that are outside of
 the observable portion of the interest rate curve or other relevant
 market measures. These unobservable inputs may involve significant
 management judgment or estimation. Even though unobservable, these
 inputs are based on assumptions deemed appropriate given the
 circumstances and consistent with what market participants would
 use when pricing such instruments. The Company&#x2019;s use of
 unobservable inputs is limited and the impact on derivative fair
 values does not represent a material amount as evidenced by the
 limited amount of Level&#xA0;3 derivatives. The credit risk of both
 the counterparty and the Company are considered in determining the
 fair value for all OTC derivatives after considering the effects of
 netting agreements and collateral arrangements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The following table presents gross notional amount and fair value
 of derivative instruments by the underlying risk exposure.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td width="80%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5" colspan="3"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="12"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="12"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom" colspan="3"><font style="FONT-SIZE: 7pt" color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" align="center"><font style="FONT-SIZE: 7pt"><b>2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-SIZE: 7pt">2017</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" rowspan="2">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" rowspan="2" colspan="2" align="right">Notional<br />
 amount</td>
 <td bgcolor="#DDE0DA" valign="bottom" rowspan="2">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" rowspan="2">&#xA0;&#xA0;</td>
 <td valign="bottom" rowspan="2" colspan="2" align="right">
 Notional<br />
 amount</td>
 <td valign="bottom" rowspan="2">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom"><font color="#1F320C"><b>Type of
 hedge</b></font></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Instrument type</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Assets</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Liabilities</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2" align="right">Assets</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2" align="right">Liabilities</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-TOP: #1f320c 1px solid" valign="top" colspan="3">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Qualifying hedge accounting relationships</b></p>
 </td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-TOP: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fair&#xA0;value&#xA0;hedges</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>519</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>13</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">548</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">20</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>91</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>5</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">84</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash&#xA0;flow&#xA0;hedges</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,834</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>80</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>367</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,757</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">20</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">333</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forward contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>80</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">165</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>101</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">125</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net&#xA0;investment&#xA0;hedges</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency forwards</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,864</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>65</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total derivatives in qualifying hedge accounting relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,489</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>106</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>466</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,679</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">37</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">362</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top" colspan="3">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Derivatives not designated in qualifying hedge</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>accounting relationships</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>300,704</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,204</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,675</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">246,270</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,984</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,251</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,297</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,551</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate options</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,736</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>314</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,093</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">312</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23,156</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>747</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,341</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,321</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">494</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,122</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Currency rate futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,052</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,157</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forward contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>29,248</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>670</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>158</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">20,341</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">915</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">65</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,492</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>653</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>163</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,597</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">813</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit default swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>652</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">606</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity futures</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,908</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">12,158</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total derivatives not designated in qualifying hedge accounting
 relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>410,245</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,597</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7,337</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">334,094</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">15,532</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">7,460</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total derivatives</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;414,734</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;13,703</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;7,803</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;336,773</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;15,569</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;7,822</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The following table presents fair values of derivative instruments
 by the remaining term to maturity. The fair values disclosed below
 do not incorporate the impact of master netting agreements. Refer
 to note 9.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="60%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Remaining term to maturity</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Less&#xA0;than</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 to 3</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">3 to 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Over 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Total&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>649</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>671</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>795</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,588</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,703&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>359</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>229</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>227</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,988</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,803&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="16"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="center"><font style="FONT-SIZE: 7pt">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="13" align="center"><font style="FONT-SIZE: 7pt">Remaining
 term to maturity</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font style="FONT-SIZE: 7pt">&#xA0;</font></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Less&#xA0;than<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1 to 3<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">3 to 5<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Over 5<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Total&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">605</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;822</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;889</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;13,253</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;15,569&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">224</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">149</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">168</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">7,281</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">7,822&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The following table presents gross notional amount by the remaining
 term to maturity, total fair value (including accrued interest),
 credit risk equivalent and risk-weighted amount by contract
 type.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="35%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center">Remaining term to
 maturity (notional amounts)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Under 1</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 to 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Over</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">5 years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Positive</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Negative</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Net</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Credit&#xA0;risk</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">equivalent<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Risk-&#xA0;&#xA0;&#xA0;&#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">weighted&#xA0;&#xA0;&#xA0;&#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">amount<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup>&#xA0;&#xA0;&#xA0;&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 OTC swap contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,495</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>22,568</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>121,817</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>147,880</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,750</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(6,477</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,273</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,301</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>787&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Cleared swap contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,723</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,140</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>131,480</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>153,343</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>95</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(96</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Forward contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,258</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,300</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>648</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>25,206</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>637</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(126</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>511</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>259</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>37&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,297</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,297</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Options purchased</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,166</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,981</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,589</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>11,736</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>317</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>317</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>376</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>58&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Subtotal</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>34,939</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>57,989</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>259,534</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>352,462</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,799</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(6,699</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,936</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>882&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign exchange</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Swap contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,024</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,281</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,776</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>25,081</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>807</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,736</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(929</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,309</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>256&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Forward contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,926</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>60</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,986</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>54</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(106</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(52</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>108</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,052</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,052</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit derivatives</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>143</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>509</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>652</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Swap contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,728</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>142</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,870</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>29</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(57</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(28</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>303</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>38&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,908</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,908</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Options purchased</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,142</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,581</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,723</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>621</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(118</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>503</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,277</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>316&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Subtotal including accrued interest</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>65,862</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>71,562</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>277,310</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>414,734</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,320</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(8,716</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,604</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,933</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,505&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Less accrued interest</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>617</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(913</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(296</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>65,862</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>71,562</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>277,310</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>414,734</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,703</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7,803</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,900</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,933</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,505&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center">Remaining term to maturity (notional
 amounts)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Under 1</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 to 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Over</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">5 years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Positive</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Negative</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Net</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Credit&#xA0;risk</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">equivalent<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Risk-&#xA0;&#xA0;&#xA0;&#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">weighted&#xA0;&#xA0;&#xA0;&#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">amount<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup>&#xA0;&#xA0;&#xA0;&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 OTC swap contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">7,161</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">19,141</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">112,412</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">138,714</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">13,379</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(6,867</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,512</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,588</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">809&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Cleared swap contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,615</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,928</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">93,561</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">108,104</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">245</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(206</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">39</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Forward contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,036</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,614</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">675</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,325</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">903</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(38</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">865</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">285</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,551</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,551</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Options purchased</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">816</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">3,856</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">5,421</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10,093</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">312</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">312</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">471</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">61&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Subtotal</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">27,179</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">46,539</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">212,069</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">285,787</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14,839</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7,111</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,728</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,344</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">905&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign exchange</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Swap contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">999</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,481</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,682</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,162</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">510</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,483</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(973</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,874</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">200&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Forward contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,046</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">135</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,181</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(31</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(19</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">101</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,157</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,157</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit derivatives</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">38</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">568</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">606</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Swap contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,612</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">169</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,781</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">60</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(14</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">46</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">337</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,158</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,158</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Options purchased</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4,693</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">6,148</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">100</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10,941</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">769</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(10</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">759</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,606</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">305&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Subtotal including accrued interest</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">53,882</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">58,040</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">224,851</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">336,773</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,204</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(8,649</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,555</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,262</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 1,457&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Less accrued interest</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">635</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(827</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(192</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;53,882</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;58,040</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;224,851</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;336,773</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;15,569</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(7,822</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;7,747</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;12,262</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,457&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Credit risk equivalent is the sum of replacement cost
 and the potential future credit exposure. Replacement cost
 represents the current cost of replacing all contracts with a
 positive fair value. The amounts take into consideration legal
 contracts that permit offsetting of positions. The potential future
 credit exposure is calculated based on a formula prescribed by
 OSFI.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Risk-weighted amount represents the credit risk
 equivalent, weighted according to the creditworthiness of the
 counterparty, as prescribed by OSFI.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The total notional amount of $415&#xA0;billion (2017 &#x2013; $337
 billion) includes $136&#xA0;billion (2017 &#x2013; $114 billion)
 related to derivatives utilized in the Company&#x2019;s variable
 annuity guarantee dynamic hedging and macro equity risk hedging
 programs. Due to the Company&#x2019;s variable annuity hedging
 practices, a large number of trades are in offsetting positions,
 resulting in materially lower net fair value exposure to the
 Company than what the gross notional amount would suggest.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 18px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Fair value and the fair value hierarchy of
 derivative instruments</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="65%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Derivative assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest rate contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,155</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,537</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>618</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Foreign exchange contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>886</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>876</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>653</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>621</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>32</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Credit default swaps</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total derivative assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,703</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,043</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>660</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Derivative liabilities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest rate contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,815</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,318</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>497</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Foreign exchange contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,814</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,813</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity contracts</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>174</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>118</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total derivative liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7,803</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7,249</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>554</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Derivative assets</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest rate contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">14,199</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">13,181</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1,018</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Foreign exchange contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">527</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">527</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">829</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">768</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">61</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Credit default swaps</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">14</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">14</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total derivative assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;15,569</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;14,490</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,079</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Derivative liabilities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest rate contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,309</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,012</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">297</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Foreign exchange contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,490</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,490</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity contracts</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">23</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">13</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total derivative liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">7,822</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;7,512</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">310</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The following table presents a roll forward for net derivative
 contracts measured at fair value using significant unobservable
 inputs (Level 3).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance at the beginning of the year</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>769</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">163</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net realized / unrealized gains (losses) included in:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Net income<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(666</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;1,082</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 OCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(48</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(9</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Purchases</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Settlements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(103</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Transfers</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Into Level&#xA0;3<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Out of Level&#xA0;3<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(13</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(363</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Currency movement</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>25</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(23</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance at the end of the year</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>106</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">769</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Change in unrealized gains (losses) on instruments still
 held</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(460</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">832</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These amounts are included in investment income on the
 Consolidated Statements of Income.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These amounts are included in AOCI on the Consolidated
 Statements of Financial Position.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">For derivatives transferred into and out of
 Level&#xA0;3, the Company uses the fair value of the items at the
 end and beginning of the period, respectively. Transfers into
 Level&#xA0;3 occur when the inputs used to price the assets and
 liabilities lack observable market data (versus the previous year).
 Transfers out of Level&#xA0;3 occur when the inputs used to price
 the assets and liabilities become available from observable market
 data.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(b) Hedging relationships</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company uses derivatives for economic hedging purposes. In
 certain circumstances, these hedges also meet the requirements of
 hedge accounting. Risk management strategies eligible for hedge
 accounting are designated as fair value hedges, cash flow hedges or
 net investment hedges, as described below.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Fair value hedges</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company uses interest rate swaps to manage its exposure to
 changes in the fair value of fixed rate financial instruments due
 to changes in interest rates. The Company also uses cross currency
 swaps to manage its exposure to foreign exchange rate fluctuations,
 interest rate fluctuations, or both.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company recognizes gains and losses on derivatives and the
 related hedged items in fair value hedges in investment income.
 These investment gains (losses) are shown in the following
 table.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="35%"></td>
 <td valign="bottom" width="5%"></td>
 <td width="36%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Hedged items in qualifying</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 fair value hedging</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 recognized&#xA0;on<br />
 derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 recognized&#xA0;for<br />
 hedged&#xA0;items</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Ineffectiveness&#xA0;&#xA0;&#xA0;&#xA0;<br />
 recognized in&#xA0;&#xA0;&#xA0;&#xA0;<br />
 investment&#xA0;&#xA0;&#xA0;&#xA0;<br />
 income&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(5</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;&#xA0;11</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="2"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Hedged items in qualifying</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 fair value hedging</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 recognized&#xA0;on<br />
 derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 recognized&#xA0;for<br />
 hedged&#xA0;items</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 Ineffectiveness&#xA0;&#xA0;&#xA0;&#xA0;<br />
 recognized in&#xA0;&#xA0;&#xA0;&#xA0;<br />
 investment&#xA0;&#xA0;&#xA0;&#xA0;<br />
 income&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(3</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;(1)&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(17</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;17</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(2</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(17</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">18</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Cash flow hedges</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company uses interest rate swaps to hedge the variability in
 cash flows from variable rate financial instruments and forecasted
 transactions. The Company also uses cross currency swaps and
 foreign currency forward contracts to hedge the variability from
 foreign currency financial instruments and foreign currency
 expenses. Total return swaps are used to hedge the variability in
 cash flows associated with certain stock-based compensation awards.
 Inflation swaps are used to reduce inflation risk generated from
 inflation-indexed liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The effects of derivatives in cash flow hedging relationships on
 the Consolidated Statements of Income and the Consolidated
 Statements of Comprehensive Income are shown in the following
 table.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="32%"></td>
 <td valign="bottom" width="6%"></td>
 <td width="34%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Hedged items in qualifying</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 cash flow hedging</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Gains
 (losses)<br />
 deferred in<br />
 AOCI on<br />
 derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Gains (losses)<br />
 reclassified<br />
 from&#xA0;AOCI&#xA0;into<br />
 investment<br />
 income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Ineffectiveness&#xA0;&#xA0;&#xA0;&#xA0;<br />
 recognized in&#xA0;&#xA0;&#xA0;&#xA0;<br />
 investment&#xA0;&#xA0;&#xA0;&#xA0;<br />
 income&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forecasted liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(20</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Floating rate liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(36</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(62</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>60</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>62</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forward contracts</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forecasted expenses</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Stock-based compensation</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(21</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(5</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="2"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Hedged items in qualifying</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 cash flow hedging</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Gains (losses)<br />
 deferred in<br />
 AOCI on<br />
 derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gains (losses)<br />
 reclassified<br />
 from&#xA0;AOCI&#xA0;into<br />
 investment<br />
 income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 Ineffectiveness&#xA0;&#xA0;&#xA0;&#xA0;<br />
 recognized in&#xA0;&#xA0;&#xA0;&#xA0;<br />
 investment&#xA0;&#xA0;&#xA0;&#xA0;<br />
 income&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forecasted liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(17</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Floating rate liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">95</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;50</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forward contracts</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forecasted expenses</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(10</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 Stock-based compensation</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;20</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">29</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">163</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">58</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The Company anticipates that net losses of approximately $31 will
 be reclassified from AOCI to net income within the next 12 months.
 The maximum time frame for which variable cash flows are hedged is
 18 years.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Hedges of net investments in foreign
 operations</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company primarily uses forward currency contracts, cross
 currency swaps and <font style="WHITE-SPACE: nowrap">non-functional</font> currency denominated
 debt to manage its foreign currency exposures to net investments in
 foreign operations.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The effects of net investment hedging relationships on the
 Consolidated Statements of Income and the Consolidated Statements
 of Other Comprehensive Income are shown in the following table.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="89%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 deferred&#xA0;in&#xA0;AOCI<br />
 on derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 reclassified&#xA0;from<br />
 AOCI into<br />
 investment&#xA0;income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Ineffectiveness<br />
 recognized in<br />
 investment<br />
 income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <font style="WHITE-SPACE: nowrap">Non-functional</font> currency
 denominated debt</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(469</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency forward</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(460</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gains (losses)<br />
 deferred in AOCI<br />
 on derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gains (losses)<br />
 reclassified from<br />
 AOCI into<br />
 investment income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Ineffectiveness<br />
 recognized in<br />
 investment<br />
 income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <font style="WHITE-SPACE: nowrap">Non-functional</font> currency
 denominated debt</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;355</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">355</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(c) Derivatives not designated in
 qualifying hedge accounting relationships</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Derivatives used in portfolios supporting insurance contract
 liabilities are generally not designated in qualifying hedge
 accounting relationships because the change in the value of the
 insurance contract liabilities economically hedged by these
 derivatives is also recorded through net income. Since changes in
 fair value of these derivatives and related hedged risks are
 recognized in investment income as they occur, they generally
 offset the change in hedged risk to the extent the hedges are
 economically effective. Interest rate and cross currency swaps are
 used in the portfolios supporting insurance contract liabilities to
 manage duration and currency risks.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Investment income on derivatives not designated in qualifying hedge
 accounting relationships</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,894</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(927</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(298</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">372</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate options</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(52</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(96</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(122</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Currency rate futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(92</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forward contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(355</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,231</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;742</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,190</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(276</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">153</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit default swaps</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(6</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(4</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,258)</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(1,024</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(d) Embedded derivatives</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Certain insurance contracts contain features that are classified as
 embedded derivatives and are measured separately at FVTPL including
 reinsurance contracts related to guaranteed minimum income benefits
 and contracts containing certain credit and interest rate
 features.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Certain reinsurance contracts related to guaranteed minimum income
 benefits contain embedded derivatives requiring separate
 measurement at FVTPL as the financial component contained in the
 reinsurance contracts does not contain significant insurance risk.
 As at December&#xA0;31, 2018, reinsurance ceded guaranteed minimum
 income benefits had a fair value of $1,148 (2017 &#x2013; $1,079)
 and reinsurance assumed guaranteed minimum income benefits had a
 fair value of $114 (2017 &#x2013; $100). Claims recovered under
 reinsurance ceded contracts offset claims expenses and claims paid
 on the reinsurance assumed are reported as contract benefits.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The Company&#x2019;s credit and interest rate embedded derivatives
 promise to pay the returns on a portfolio of assets to the contract
 holder. These embedded derivatives contain a credit and interest
 rate risk that is a financial risk embedded in the underlying
 insurance contract. As at December&#xA0;31, 2018, these embedded
 derivatives had a fair value of $53 (2017 &#x2013; $123).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Other financial instruments classified as embedded derivatives but
 exempt from separate measurement at fair value include variable
 universal life and variable life products, minimum guaranteed
 credited rates, no lapse guarantees, guaranteed annuitization
 options, CPI indexing of benefits, and segregated fund minimum
 guarantees other than reinsurance ceded/assumed guaranteed minimum
 income benefits. These embedded derivatives are measured and
 reported within insurance contract liabilities and are exempt from
 separate fair value measurement as they contain insurance risk
 and/or are closely related to the insurance host contract.</p>
 </div><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of derivative financial instruments. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834528400">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
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 Note 5&#xA0;&#xA0;&#xA0;&#xA0;Income Taxes</b></font></p>
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 <font color="#1F320C"><b>(a) Components of the income tax expense
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 Income tax expenses (recovery) recognized in the Consolidated
 Statements of Income</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
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 <td></td>
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 <td valign="bottom" width="3%"></td>
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 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
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 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Current tax</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Current year</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(327</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">608</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Adjustments to prior year</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>29</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(38</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(298</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">570</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Deferred tax</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Change related to temporary differences</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(803</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of U.S. Tax Reform</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(320</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">472</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income tax expense</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;632</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;239</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Income tax expenses (recovery) recognized in Other Comprehensive
 Income</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="82%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Current income tax expense (recovery)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">116</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deferred income tax expense (recovery)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(148</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">320</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income tax expense (recovery)</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(146</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;436</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Income tax expenses (recovery) recognized directly in Equity</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Current income tax expense (recovery)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deferred income tax expense (recovery)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income tax expense (recovery)</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;(1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The effective income tax rate reflected in the Consolidated
 Statements of Income varies from the Canadian tax rate of
 26.75&#xA0;per cent for the year ended December&#xA0;31, 2018 (2017
 &#x2013; 26.75 per cent) due to the following reasons.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Reconciliation of income tax
 expense</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income before income taxes</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;5,519</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">&#xA0;&#xA0;2,501</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income tax expense at Canadian statutory tax rate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,476</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">669</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Increase (decrease) in income taxes due to:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Tax-exempt</font>&#xA0;investment
 income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(200</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(242</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Differences in tax rate on income not subject to tax in Canada</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(391</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(551</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Adjustments to taxes related to prior years</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(71</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(182</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of U.S. Tax Reform</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(320</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">472</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other differences</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>138</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">73</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income tax expense</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>632</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">239</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Impact of U.S. Tax Reform</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 On December&#xA0;22, 2017, the U.S. government enacted new tax
 legislation effective January&#xA0;1, 2018.&#xA0;The legislation
 makes broad and complex changes to the U.S. tax code and
 accordingly it will take time to assess and interpret the changes.
 In 2017, based on a preliminary understanding of the new
 legislation, the Company recorded a provisional charge of
 $1.8&#xA0;billion,&#xA0;<font style="WHITE-SPACE: nowrap">after-tax,</font>&#xA0;for the
 estimated impact of U.S. Tax Reform on policyholder liabilities and
 net deferred tax assets, including the reduction in the U.S.
 federal corporate income tax rate and the impact of specific life
 insurance regulations which limits the deductibility of reserves
 for U.S. federal income tax purposes. In 2018, the Company
 finalized its estimate of U.S. Tax Reform and reported a gain of
 $124 including a $196 increase in insurance contract liabilities.
 Refer to note 7(g) for the impact of U.S. Tax Reform on the
 Company&#x2019;s insurance contract liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Current tax receivable and
 payable</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 As at December&#xA0;31, 2018, the Company had approximately $1,712
 of tax receivable (2017 &#x2013; $778) and $118 of tax payable (2017
 &#x2013; $178).</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Deferred tax assets and
 liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the Company&#x2019;s deferred tax
 assets and liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December 31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deferred tax assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,318</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,569</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deferred tax liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,814</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,281</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net deferred tax assets (liabilities)</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;2,504</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;3,288</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents significant components of the
 Company&#x2019;s deferred tax assets and liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="50%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Recognized<br />
 in Income<br />
 Statement</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Recognized
 in<br />
 Other<br />
 Comprehensive<br />
 Income</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Recognized<br />
 in Equity</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Translation<br />
 and Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loss carry forwards</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>596</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>387</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>29</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,019</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Actuarial liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,878</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,697</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>282</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,466</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Pensions and post-employment benefits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>208</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>242</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Tax credits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>454</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(224</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>31</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>261</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Accrued interest</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,062</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>150</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(46</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(959</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Securities and other investments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,807</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,234</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>136</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(253</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,689</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Sale of investments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(105</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(87</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Goodwill and intangible assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(825</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(40</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(847</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(50</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>157</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(12</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>97</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;3,288</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(930</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>148</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9)</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,504</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Recognized<br />
 in Income<br />
 Statement</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Recognized in<br />
 Other<br />
 Comprehensive<br />
 Income</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Recognized<br />
 in Equity</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Translation<br />
 and Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loss carry forwards</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">942</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(311</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(38</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">596</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Actuarial liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9,366</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,053</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(17</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(418</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,878</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Pensions and post-employment benefits</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">352</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(87</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(54</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(3</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">208</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Tax credits</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">875</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(369</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(52</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">454</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Accrued interest</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(12</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(3</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,396</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">284</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(9</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">59</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,062</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Securities and other investments</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(6,064</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,172</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(239</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(3,807</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Sale of investments</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(163</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">58</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(105</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Goodwill and intangible assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,059</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">197</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">37</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(825</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">210</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(548</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">287</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(50</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">3,080</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">331</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(320</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;195</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;3,288</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The total deferred tax assets as at December&#xA0;31, 2018 of
 $4,318 (2017 &#x2013; $4,569) include $3,508 (2017 &#x2013; $4,527)
 where the Company has suffered losses in either the current or
 preceding year and where the recognition is dependent on future
 taxable profits in the relevant jurisdictions and feasible
 management actions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 As at December&#xA0;31, 2018, tax loss carryforwards available were
 approximately $4,838 (2017 &#x2013; $3,164) of which $4,713 expire
 between the years 2020 and 2038 while $125 have no expiry date, and
 capital loss carryforwards available were approximately $20 (2017
 &#x2013; $8) and have no expiry date. A $1,019 (2017 &#x2013; $596)
 tax benefit related to these tax loss carryforwards has been
 recognized as a deferred tax asset as at December&#xA0;31, 2018,
 and a benefit of $121 (2017 &#x2013; $171) has not been recognized.
 In addition, the Company has approximately $426 (2017 &#x2013; $606)
 of tax credit carryforwards which will expire between the years
 2030 and 2038 of which a benefit of $165 (2017 &#x2013; $152) has
 not been recognized.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The total deferred tax liability as at December&#xA0;31, 2018 was
 $1,814 (2017 &#x2013; $1,281). This amount includes the deferred tax
 liability of consolidated entities. The aggregate amount of taxable
 temporary differences associated with the Company&#x2019;s own
 investments in subsidiaries is not included in the Consolidated
 Financial Statements and was $16,570 (2017 &#x2013; $11,780).</p>
 </div><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855878432">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill and Intangible Assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 6&#xA0;&#xA0;&#xA0;&#xA0;Goodwill and
 Intangible Assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Carrying amounts of goodwill and
 intangible assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="54%"></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Additions/<br />
 disposals<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Amortization<br />
 expense</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Effect&#xA0;of&#xA0;changes<br />
 in foreign<br />
 exchange rates</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Goodwill</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,713</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(65</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>216</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,864</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Indefinite life intangible assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Brand</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>753</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>66</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>819</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Fund management contracts and other<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>755</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>40</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>798</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,508</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>106</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,617</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Finite life intangible assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Distribution networks</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>989</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(133</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>48</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>60</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>868</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Customer relationships</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>899</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>55</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>16</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>860</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Software</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>661</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>275</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>147</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>32</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>821</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>70</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>67</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,619</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>142</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>255</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>110</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,616</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total intangible assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,127</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>145</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>255</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>216</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,233</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total goodwill and intangible assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9,840</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>80</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;255</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>432</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;10,097</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Additions/<br />
 disposals</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Amortization<br />
 expense</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Effect of changes<br />
 in foreign<br />
 exchange rates</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Goodwill</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,884</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">&#xA0;&#xA0;(171</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,713</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Indefinite life intangible assets</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Brand</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">805</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(52</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">753</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Fund management contracts and other<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">785</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(30</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">755</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,590</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(82</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,508</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Finite life intangible assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Distribution networks</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,093</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(57</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">989</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Customer relationships</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">969</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">56</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(14</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">899</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Software</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">494</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">303</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">121</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(15</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">661</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">77</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">70</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,633</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">303</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">229</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(88</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,619</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total intangible assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,223</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">303</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">229</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(170</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,127</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total goodwill and intangible assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;10,107</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">303</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">229</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(341</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">9,840</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">For fund management contracts, the significant CGUs to
 which these were allocated and their associated carrying values
 were U.S. WAM with $400 (2017 &#x2013; $367) and Canada WAM with
 $273 (2017 &#x2013; $273).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Gross carrying amount of finite life intangible assets
 was $1,331 for distribution networks, $1,145 for customer
 relationships, $2,110 for software and $133 for other (2017 &#x2013;
 $1,294, $1,128, $1,841 and $126, respectively).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2018, disposals include $65 of goodwill and $96 of
 distribution networks from the sale of the U.S. broker-dealer
 business, and impairments of distribution networks for discontinued
 products of $27 in U.S. segment and $13 in Asia segment.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Goodwill impairment
 testing</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In the fourth quarter of 2018, the Company completed its annual
 goodwill impairment testing by determining the recoverable amounts
 of its businesses using valuation techniques discussed below or
 based on the most recent detailed similar calculations made in a
 prior period (refer to notes 1(f) and 6(c)). The Company has
 determined that there was no impairment of goodwill in 2018 and
 2017.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company made organizational
 changes to drive better alignment with strategic priorities and
 increase focus and leverage scale in its wealth management
 business. As a result of this reorganization, which included
 recognition of the Company&#x2019;s wealth and asset management
 businesses (Global WAM) as a primary reporting segment
 (note&#xA0;19), the Company has modified the level at which
 goodwill is tested for impairment purposes. The modification
 includes (a) the allocation of existing goodwill to the relevant
 CGUs or group of CGUs within the Global WAM segment that had
 previously been combined within respective regional insurance
 businesses and (b) the amalgamation of the remaining Canadian-based
 goodwill (including Individual Life, Affinity Markets, Individual
 Annuities, Group Benefits and International Group Program) under
 the Canadian Insurance reporting segment. These
 reorganization-based changes have resulted in goodwill being
 allocated to CGUs or groups of CGUs based on the lowest level
 within the Company in which goodwill is monitored for internal
 management purposes. The prior period amounts have been restated to
 reflect the reorganized CGUs.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following tables present the carrying value of goodwill by CGU
 or group of CGUs.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="65%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 CGU or group of CGUs</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Additions/<br />
 disposals</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Effect&#xA0;of<br />
 changes in<br />
 foreign<br />
 exchange<br />
 rates</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asia</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Asia Insurance (excluding Japan)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>154</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>165</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Japan Insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>391</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>44</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>435</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canada Insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,954</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,962</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S. Insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>400</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(65</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>32</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>367</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Global Wealth and Asset Managment</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Asia WAM</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>180</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>16</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>196</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canada WAM</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,436</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,436</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. WAM</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,198</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>105</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,303</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,713</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(65</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>216</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,864</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 CGU or group of CGUs</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Additions/<br />
 disposals</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Effect of<br />
 changes&#xA0;in<br />
 foreign<br />
 exchange<br />
 rates</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asia</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Asia Insurance (excluding Japan)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">160</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(6</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">154</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Japan Insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">403</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(12</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">391</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canada Insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,960</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(6</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,954</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S. Insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">428</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(28</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">400</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Global Wealth and Asset Managment</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Asia WAM</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">194</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(14</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">180</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canada WAM</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,436</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,436</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. WAM</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,303</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(105</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,198</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;5,884</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(171</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;5,713</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The valuation techniques, significant assumptions and
 sensitivities, where applicable, applied in the goodwill impairment
 testing are described below.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Valuation techniques</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The recoverable amounts were based on fair value less costs to sell
 (&#x201C;FVLCS&#x201D;) for Asia Insurance (excluding Japan), Asia
 WAM and for certain CGUs within Canada Insurance and U.S. WAM CGU
 groups. For other CGUs,&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">value-in-use</font></font>&#xA0;(&#x201C;VIU&#x201D;)
 was used. When determining if a CGU is impaired, the Company
 compares its recoverable amount to the allocated capital for that
 unit, which is aligned with the Company&#x2019;s internal reporting
 practices.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Under the FVLCS approach, the Company determines the fair value of
 the CGU or group of CGUs using an earnings-based approach which
 incorporates forecasted earnings, excluding interest and equity
 market impacts and normalized new business expenses multiplied by
 an earnings-multiple derived from the
 observable&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">price-to-earnings</font></font>&#xA0;multiples
 of comparable financial institutions.
 The&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">price-to-earnings</font></font>&#xA0;multiples
 used by the Company for testing ranged from 9.0 to 11.7 (2017
 &#x2013; 10.6 to 14.8).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Under the VIU approach, used for CGUs with insurance business, an
 embedded appraisal value is determined from a projection of future
 distributable earnings derived from both
 the&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;business
 and new business expected to be sold in the future, and therefore,
 reflects the economic value for each CGU&#x2019;s or group of
 CGUs&#x2019; profit potential under a set of assumptions. This
 approach requires assumptions including sales and revenue growth
 rates, capital requirements, interest rates, equity returns,
 mortality, morbidity, policyholder behaviour, tax rates and
 discount rates. For&#xA0;<font style="WHITE-SPACE: nowrap">non-insurance</font>&#xA0;CGUs,
 the VIU is based on discounted cash flow analysis which
 incorporates relevant aspects of the embedded appraisal value
 approach.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(d) Significant assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 To calculate embedded value, the Company discounted projected
 earnings from&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;contracts
 and valued 10 years of new business growing at expected plan
 levels, consistent with the periods used for forecasting long-term
 businesses such as insurance. In&#xA0;arriving at its projections,
 the Company considered past-experience, economic trends such as
 interest rates, equity returns and product mix as well as industry
 and market trends. Where growth rate assumptions for new business
 cash flows were used in the embedded value calculations, they
 ranged from zero per cent to 17&#xA0;per cent (2017 &#x2013;
 negative five per cent to 17 per cent).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Interest rate assumptions are based on prevailing market rates at
 the valuation date.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Tax rates applied to the projections include the impact of internal
 reinsurance treaties and amounted to 30.8 per cent, 26.8 per cent
 and 21 per cent (2017 &#x2013; 30.8 per cent, 26.8&#xA0;per cent and
 35 per cent) for the Japan, Canadian and U.S. jurisdictions,
 respectively. Tax assumptions are sensitive to changes in tax laws
 as well as assumptions about the jurisdictions in which profits are
 earned. It is possible that actual tax rates could differ from
 those assumed.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Discount rates assumed in determining
 the&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">value-in-use</font></font>&#xA0;for
 applicable CGUs or groups of CGUs ranged from 7.5&#xA0;per cent to
 14.2&#xA0;per cent on an&#xA0;<font style="WHITE-SPACE: nowrap">after-tax</font>&#xA0;basis or
 10.2&#xA0;per cent to 20.4 per cent on
 a&#xA0;<font style="WHITE-SPACE: nowrap">pre-tax</font>&#xA0;basis (2017
 &#x2013; 9.2 per cent to 14.2&#xA0;per cent on
 an&#xA0;<font style="WHITE-SPACE: nowrap">after-tax</font>&#xA0;basis or
 11.3&#xA0;per cent to 20.4&#xA0;per cent on
 a&#xA0;<font style="WHITE-SPACE: nowrap">pre-tax</font>&#xA0;basis).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The key assumptions described above may change as economic and
 market conditions change, which may lead to impairment charges in
 the future. Changes in discount rates and cash flow projections
 used in the determination of embedded values or reductions in
 market-based earnings multiples may result in impairment charges in
 the future which could be material.</p>
 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of intangible assets and goodwill. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855975200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance Contract Liabilities and Reinsurance Assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInsuranceContractsExplanatory', window );">Insurance Contract Liabilities and Reinsurance Assets</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 7&#xA0;&#xA0;&#xA0;&#xA0;Insurance
 Contract Liabilities and Reinsurance Assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Insurance contract liabilities and
 reinsurance assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Insurance contract liabilities are reported gross of reinsurance
 ceded and the ceded liabilities are reported separately as a
 reinsurance asset. Insurance contract liabilities include actuarial
 liabilities, benefits payable, provision for unreported claims and
 policyholder amounts on deposit. The components of gross and net
 insurance contract liabilities are shown below.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 4pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="79%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross insurance contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,737</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">291,767</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross benefits payable and provision for unreported claims</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,398</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,376</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross policyholder amounts on deposit</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,519</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">9,462</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross insurance contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>328,654</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">304,605</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reinsurance assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(42,925</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(30,359</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net insurance contract liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;285,729</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;274,246</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The Company also holds reinsurance assets of $128
 (2017 &#x2013; $nil) for investment contract liabilities, refer to
 note 8(b).</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Net insurance contract liabilities represent the amount which,
 together with estimated future premiums and net investment income,
 will be sufficient to pay estimated future benefits, policyholder
 dividends and refunds, taxes (other than income taxes) and expenses
 on policies&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;net of
 reinsurance premiums and recoveries.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Net insurance contract liabilities are determined using CALM, as
 required by the Canadian Institute of Actuaries.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The determination of net insurance contract liabilities is based on
 an explicit projection of cash flows using current assumptions for
 each material cash flow item. Investment returns are projected
 using the current asset portfolios and projected reinvestment
 strategies.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Each assumption is based on the best estimate adjusted by a margin
 for adverse deviation. For fixed income returns, this margin is
 established by scenario testing a range of prescribed and
 company-developed scenarios consistent with Canadian Actuarial
 Standards of Practice. For all other assumptions, this margin is
 established by directly adjusting the best estimate assumption.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Cash flows used in the net insurance contract liabilities valuation
 adjust the gross policy cash flows to reflect projected cash flows
 from ceded reinsurance. The cash flow impact of ceded reinsurance
 varies depending upon the amount of reinsurance, the structure of
 reinsurance treaties, the expected economic benefit from treaty
 cash flows and the impact of margins for adverse deviation. Gross
 insurance contract liabilities are determined by discounting gross
 policy cash flows using the same discount rate as the net CALM
 model discount rate.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The reinsurance asset is determined by taking the difference
 between the gross insurance contract liabilities and the net
 insurance contract liabilities. The reinsurance asset represents
 the benefit derived from reinsurance arrangements in force at the
 date of the Consolidated Statements of Financial Position.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The period used for the projection of cash flows is the policy
 lifetime for most individual insurance contracts. For other types
 of contracts, a shorter projection period may be used, with the
 contract generally ending at the earlier of the first renewal date
 on or after&#xA0;the Consolidated Statements of Financial Position
 date where the Company can exercise discretion in renewing its
 contractual obligations or terms of those obligations and the
 renewal or adjustment date that maximizes the insurance contract
 liabilities. For segregated fund products with guarantees, the
 projection period is generally set as the period that leads to the
 largest insurance contract liability. Where the projection period
 is less than the policy lifetime, insurance contract liabilities
 may be reduced by an allowance for acquisition expenses expected to
 be recovered from policy cash flows beyond the projection period
 used for the liabilities. Such allowances are tested for
 recoverability using assumptions that are consistent with other
 components of the actuarial valuation.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Composition</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The composition of insurance contract liabilities and reinsurance
 assets by the line of business and reporting segment is as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Gross insurance contract
 liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="43%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">Individual
 insurance</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Participating</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><font style="WHITE-SPACE: nowrap">Non-</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">participating</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Annuities<br />
 and<br />
 pensions</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<br />
 insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total, net of<br />
 reinsurance<br />
 ceded</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total<br />
 reinsurance<br />
 ceded</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total,</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">gross of<br />
 reinsurance<br />
 ceded</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asia</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>38,470</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>29,547</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,062</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,048</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>76,127</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,332</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>77,459</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canada</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,743</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>34,677</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>18,339</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,869</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>76,628</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(202</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>76,426</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S.</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,673</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>63,412</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,125</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>44,932</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>133,142</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>41,695</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>174,837</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate and Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(601</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>46</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>387</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(168</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>100</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(68</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, net of reinsurance ceded</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>57,886</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>127,035</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>39,572</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>61,236</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>285,729</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>42,925</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>328,654</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total reinsurance ceded</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>11,596</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,303</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>17,927</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,099</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>42,925</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, gross of reinsurance ceded</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;69,482</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;139,338</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;57,499</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;62,335</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;328,654</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td bgcolor="#FFFFFF" height="16" colspan="8"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#FFFFFF" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#FFFFFF" valign="bottom" colspan="6" align="center">Individual
 insurance</td>
 <td bgcolor="#FFFFFF" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Participating</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><font style="WHITE-SPACE: nowrap">Non-</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">participating</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Annuities<br />
 and<br />
 pensions</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<br />
 insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total, net of<br />
 reinsurance<br />
 ceded</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total<br />
 reinsurance<br />
 ceded</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total,</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">gross of<br />
 reinsurance<br />
 ceded</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asia</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">32,737</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">22,705</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,366</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,435</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">62,243</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">911</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">63,154</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canada</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">34,091</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,141</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,834</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">76,198</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(676</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">75,522</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S.</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8,569</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">57,599</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">26,161</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">43,522</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">135,851</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">29,952</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">165,803</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate and Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(515</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">48</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">421</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(46</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">172</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">126</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, net of reinsurance ceded</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">52,438</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">113,880</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">49,716</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">58,212</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">274,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">30,359</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">304,605</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total reinsurance ceded</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">11,492</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">11,238</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">6,539</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,090</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">30,359</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, gross of reinsurance ceded</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">63,930</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">125,118</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">56,255</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">59,302</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">304,605</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other insurance contract liabilities include group
 insurance and individual and group health including long-term care
 insurance.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 9pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Separate&#xA0;<font style="WHITE-SPACE: nowrap">sub-accounts</font>&#xA0;were
 established for participating
 policies&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;at the
 demutualization of MLI and John Hancock Mutual Life Insurance
 Company. These&#xA0;<font style="WHITE-SPACE: nowrap">sub-accounts</font>&#xA0;permit
 this participating business to be operated as separate
 &#x201C;closed blocks&#x201D; of participating policies. As at
 December&#xA0;31, 2018, $28,790 (2017 &#x2013; $28,135) of both
 assets and insurance contract liabilities were related to these
 closed blocks of participating policies.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Assets backing insurance contract
 liabilities, other liabilities and capital</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Assets are segmented and matched to liabilities with similar
 underlying characteristics by product line and major currency. The
 Company has established target investment strategies and asset
 mixes for each asset segment supporting insurance contract
 liabilities which consider the risk attributes of the liabilities
 supported by the assets and expectations of market performance.
 Liabilities with rate and term guarantees are predominantly backed
 by fixed-rate instruments on a cash flow matching basis for a
 targeted duration horizon. Longer duration cash flows on these
 liabilities as well as on adjustable products such as participating
 life insurance are backed by a broader range of asset classes,
 including equity and alternative long-duration investments. The
 Company&#x2019;s capital is invested in a range of debt and equity
 investments, both public and private.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Changes in the fair value of assets backing net insurance contract
 liabilities, that the Company considers to be other than temporary,
 would have a limited impact on the Company&#x2019;s net income
 wherever there is an effective matching of assets and liabilities,
 as these changes would be substantially offset by corresponding
 changes in the value of net insurance contract liabilities. The
 fair value of assets backing net insurance contract liabilities as
 at December&#xA0;31, 2018, excluding reinsurance assets, was
 estimated at $287,326 (2017 &#x2013; $278,521).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 As at December&#xA0;31, 2018, the fair value of assets backing
 capital and other liabilities was estimated at $465,497 (2017
 &#x2013; $456,278).</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the carrying value of assets backing
 net insurance contract liabilities, other liabilities and
 capital.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="45%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">Individual
 insurance</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Participating</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><font style="WHITE-SPACE: nowrap">Non-</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">participating</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Annuities<br />
 and pensions</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Capital<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>67,387</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>20,469</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>28,435</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,061</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>28,308</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>185,594</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,416</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,562</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>172</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>262</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>589</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,178</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,218</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,111</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,972</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,732</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>21,295</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>35</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,363</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,151</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,131</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,960</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,581</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,772</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>159</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,754</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,106</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,028</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,799</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>397</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>233</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,777</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9,061</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>22,816</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,785</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,427</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>374,418</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>23,097</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>448,604</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;57,886</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;127,035</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;39,572</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;61,236</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;408,532</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;56,010</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;750,271</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td bgcolor="#FFFFFF" height="16" colspan="8"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#FFFFFF" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#FFFFFF" valign="bottom" colspan="6" align="center">Individual
 insurance</td>
 <td bgcolor="#FFFFFF" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Participating</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><font style="WHITE-SPACE: nowrap">Non-</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">participating</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Annuities<br />
 and pensions</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Capital<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;27,946</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">63,128</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">26,621</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">25,211</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,635</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">24,459</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">174,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9,264</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,855</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">171</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">332</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,029</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,894</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">21,545</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,017</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,286</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,009</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,891</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,476</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">63</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">44,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,645</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,128</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8,059</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,739</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">367</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">194</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">32,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,963</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,198</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,136</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,516</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">769</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">228</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,810</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">6,603</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">16,285</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">6,720</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">15,523</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">377,352</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">20,821</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">443,304</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">52,438</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;113,880</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;49,716</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;58,212</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;404,628</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;50,659</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;729,533</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other insurance contract liabilities include group
 insurance and individual and group health including long-term care
 insurance.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other liabilities are&#xA0;<font style="WHITE-SPACE: nowrap">non-insurance</font>&#xA0;contract
 liabilities which include segregated funds, bank deposits,
 long-term debt, deferred tax liabilities, derivatives, investment
 contracts, embedded derivatives and other miscellaneous
 liabilities.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Capital is defined in note 13.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(d) Significant insurance contract
 liability valuation assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The determination of insurance contract liabilities involves the
 use of estimates and assumptions. Insurance contract liabilities
 have two major components: a best estimate amount and a provision
 for adverse deviation.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Best estimate assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Best estimate assumptions are made with respect to mortality and
 morbidity, investment returns, rates of policy termination,
 operating expenses and certain taxes. Actual experience is
 monitored to ensure that assumptions remain appropriate and
 assumptions are changed as warranted. Assumptions are discussed in
 more detail in the following table.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="9%"></td>
 <td valign="bottom" width="1%"></td>
 <td width="42%"></td>
 <td valign="bottom" width="2%"></td>
 <td width="42%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td style="BORDER-TOP: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" height="5" colspan="3">&#xA0;</td>
 <td style="BORDER-TOP: rgb(0,0,0) 1px solid; BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" height="5" colspan="2">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="bottom" colspan="3">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>Nature of factor and assumption
 methodology</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" bgcolor="#E8EAE6" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>Risk management</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Mortality</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>and</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>morbidity</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Mortality relates to the occurrence of death. Mortality is a key
 assumption for life insurance and certain forms of annuities.
 Mortality assumptions are based on the Company&#x2019;s internal
 experience as well as past and emerging industry experience.
 Assumptions are differentiated by sex, underwriting class, policy
 type and geographic market. Assumptions are made for future
 mortality improvements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Morbidity relates to the occurrence of accidents and sickness for
 insured risks. Morbidity is a key assumption for long-term care
 insurance, disability insurance, critical illness and other forms
 of individual and group health benefits. Morbidity assumptions are
 based on the Company&#x2019;s internal experience as well as past
 and emerging industry experience and are established for each type
 of morbidity risk and geographic market. Assumptions are made for
 future morbidity improvements.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company maintains underwriting standards to determine the
 insurability of applicants. Claim trends are monitored on an
 ongoing basis. Exposure to large claims is managed by establishing
 policy retention limits, which vary by market and geographic
 location. Policies in excess of the limits are reinsured with other
 companies.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Mortality is monitored monthly and the overall 2018 experience was
 favourable (2017 &#x2013; unfavourable) when compared to the
 Company&#x2019;s assumptions. Morbidity is also monitored monthly
 and the overall 2018 experience was unfavourable (2017 &#x2013;
 unfavourable) when compared to the Company&#x2019;s assumptions.</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Investment returns</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company segments assets to support liabilities by business
 segment and geographic market and establishes investment strategies
 for each liability segment. Projected cash flows from these assets
 are combined with projected cash flows from future asset
 purchases/sales to determine expected rates of return on these
 assets for future years. Investment strategies are based on the
 target investment policies for each segment and the reinvestment
 returns are derived from current and projected market rates for
 fixed income investments and a projected outlook for other
 alternative long-duration assets.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment return assumptions include expected future asset credit
 losses on fixed income investments. Credit losses are projected
 based on past experience of the Company and industry as well as
 specific reviews of the current investment portfolio.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment return assumptions for each asset class and geographic
 market also incorporate expected investment management expenses
 that are derived from internal cost studies. The costs are
 attributed to each asset class to develop unitized assumptions per
 dollar of asset for each asset class and geographic market.</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company&#x2019;s policy of closely matching asset cash flows
 with those of the corresponding liabilities is designed to mitigate
 the Company&#x2019;s exposure to future changes in interest rates.
 The interest rate risk positions in business segments are monitored
 on an ongoing basis. Under CALM, the reinvestment rate is developed
 using interest rate scenario testing and reflects the interest rate
 risk positions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 In 2018, the movement in interest rates positively
 (2017&#xA0;&#x2013;&#xA0;negatively) impacted the Company&#x2019;s
 net income. This positive impact was driven by an increase in
 corporate spreads, partially offset by the impact of risk free
 interest rate movements and swap spreads on policy liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The exposure to credit losses is managed against policies that
 limit concentrations by issuer, corporate connections, ratings,
 sectors and geographic regions. On participating policies and
 some&#xA0;<font style="WHITE-SPACE: nowrap">non-participating</font>&#xA0;policies,
 credit loss experience is passed back to policyholders through the
 investment return crediting formula. For other policies, premiums
 and benefits reflect the Company&#x2019;s assumed level of future
 credit losses at contract inception or most recent contract
 adjustment date. The Company holds explicit provisions in actuarial
 liabilities for credit risk including provisions for adverse
 deviation.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 In 2018, credit loss experience on debt securities and mortgages
 was favourable (2017 &#x2013; favourable) when compared to the
 Company&#x2019;s assumptions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Equities, real estate and other alternative long-duration assets
 are used to support liabilities where investment return experience
 is passed back to policyholders through dividends or credited
 investment return adjustments. Equities, real estate, oil and gas
 and other alternative long-duration assets are also used to support
 long-dated obligations in the Company&#x2019;s annuity and pension
 businesses and for long-dated insurance obligations on contracts
 where the investment return risk is borne by the Company.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 In 2018, investment experience on alternative long-duration assets
 backing policyholder liabilities was unfavourable
 (2017&#xA0;&#x2013; unfavourable) primarily due to losses in oil and
 gas properties, real estate properties and private equities. In
 2018, alternative long-duration asset origination exceeded (2017
 &#x2013; exceeded) valuation requirements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 In 2018, for the business that is dynamically hedged, segregated
 fund guarantee experience on
 residual,&#xA0;<font style="WHITE-SPACE: nowrap">non-dynamically</font>&#xA0;hedged
 market risks was unfavourable (2017&#xA0;&#x2013; favourable). For
 the business that is not dynamically hedged, experience on
 segregated fund guarantees due to changes in the market value of
 assets under management was also unfavourable (2017 &#x2013;
 favourable). This excludes the experience on the macro equity
 hedges.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 In 2018, investment expense experience was unfavourable (2017
 &#x2013; unfavourable) when compared to the Company&#x2019;s
 assumptions.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Policy termination and premium
 persistency</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Policies are terminated through lapses and surrenders, where lapses
 represent the termination of policies due
 to&#xA0;<font style="WHITE-SPACE: nowrap">non-payment</font>&#xA0;of
 premiums and surrenders represent the voluntary termination of
 policies by policyholders. Premium persistency represents the level
 of ongoing deposits on contracts where there is policyholder
 discretion as to the amount and timing of deposits. Policy
 termination and premium persistency assumptions are primarily based
 on the Company&#x2019;s recent experience adjusted for expected
 future conditions. Assumptions reflect differences by type of
 contract within each geographic market.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company seeks to design products that minimize financial
 exposure to lapse, surrender and premium persistency risk. The
 Company monitors lapse, surrender and persistency experience.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 In aggregate, 2018 policyholder termination and premium persistency
 experience was unfavourable (2017 &#x2013; unfavourable) when
 compared to the Company&#x2019;s assumptions used in the computation
 of actuarial liabilities.</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Expenses and taxes</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Operating expense assumptions reflect the projected costs of
 maintaining and servicing&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;policies,
 including associated overhead expenses. The expenses are derived
 from internal cost studies projected into the future with an
 allowance for inflation. For some developing businesses, there is
 an expectation that unit costs will decline as these businesses
 grow.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Taxes reflect assumptions for future premium taxes and
 other&#xA0;<font style="WHITE-SPACE: nowrap">non-income</font>&#xA0;related
 taxes. For income taxes, policy liabilities are adjusted only for
 temporary tax timing and permanent tax rate differences on the cash
 flows available to satisfy policy obligations.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company prices its products to cover the expected costs of
 servicing and maintaining them. In addition, the Company monitors
 expenses monthly, including comparisons of actual expenses to
 expense levels allowed for in pricing and valuation.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Maintenance expenses for 2018 were unfavourable
 (2017&#xA0;&#x2013;&#xA0;unfavourable) when compared to the
 Company&#x2019;s assumptions used in the computation of actuarial
 liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company prices its products to cover the expected cost of
 taxes.</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Policyholder&#xA0; dividends, experience
 rating refunds, and&#xA0; other adjustable policy
 elements</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The best estimate projections for policyholder dividends and
 experience rating refunds, and other adjustable elements of policy
 benefits are determined to be consistent with management&#x2019;s
 expectation of how these elements will be managed should experience
 emerge consistently with the best estimate assumptions used for
 mortality and morbidity, investment returns, rates of policy
 termination, operating expenses and taxes.</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company monitors policy experience and adjusts policy benefits
 and other adjustable elements to reflect this experience.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Policyholder dividends are reviewed annually for all businesses
 under a framework of Board-approved policyholder dividend
 policies.</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-LEFT: 8pt; BORDER-LEFT: rgb(0,0,0) 1px solid" bgcolor="#E8EAE6" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Foreign currency</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Foreign currency risk results from a mismatch of the currency of
 liabilities and the currency of the assets designated to support
 these obligations. Where a currency mismatch exists, the assumed
 rate of return on the assets supporting the liabilities is reduced
 to reflect the potential for adverse movements in foreign exchange
 rates.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-RIGHT: rgb(0,0,0) 1px solid; BORDER-BOTTOM: rgb(0,0,0) 1px solid; PADDING-RIGHT: 2pt" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company generally matches the currency of its assets with the
 currency of the liabilities they support, with the objective of
 mitigating the risk of loss arising from movements in currency
 exchange rates.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company reviews actuarial methods and assumptions on an annual
 basis. If changes are made to assumptions (refer to note 7(h)), the
 full impact is recognized in income immediately.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(e) Sensitivity of insurance contract
 liabilities to changes in&#xA0;<font style="WHITE-SPACE: nowrap">non-economic</font>&#xA0;assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The sensitivity of net income attributed to shareholders to changes
 in&#xA0;<font style="WHITE-SPACE: nowrap">non-economic</font>&#xA0;assumptions
 underlying insurance contract liabilities is shown below, assuming
 a simultaneous change in the assumption across all business units.
 The sensitivity of net income attributed to shareholders to a
 deterioration or improvement in&#xA0;<font style="WHITE-SPACE: nowrap">non-economic</font>&#xA0;assumptions
 for Long-Term Care (&#x201C;LTC&#x201D;) as at December&#xA0;31, 2018
 is also shown below.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In practice, experience for each assumption will frequently vary by
 geographic market and business and assumption updates are made on a
 business/geographic specific basis. Actual results can differ
 materially from these estimates for a variety of reasons including
 the interaction among these factors when more than one changes;
 changes in actuarial and investment return and future investment
 activity assumptions; changes in business mix, effective tax rates
 and other market factors; and the general limitations of internal
 models.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders arising from changes
 to&#xA0;<font style="WHITE-SPACE: nowrap">non-economic</font>&#xA0;assumptions<sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">(1)</sup></b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="87%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" rowspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Decrease in net income<br />
 attributed to shareholders</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Policy related assumptions</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2% adverse change in future mortality rates<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2),(4)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Products where an increase in rates increases insurance contract
 liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(400</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Products where a decrease in rates increases insurance contract
 liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(500</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5% adverse change in future morbidity rates (incidence and
 termination)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3),(4),(5)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(4,800</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;(5,100</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 10% adverse change in future policy termination rates<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,200</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,100</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5% increase in future expense levels</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(600</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(500</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes
 in&#xA0;<font style="WHITE-SPACE: nowrap">non-economic</font>&#xA0;assumptions.
 Experience gains or losses would generally result in changes to
 future dividends, with no direct impact to shareholders.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">An increase in mortality rates will generally increase
 policy liabilities for life insurance contracts whereas a decrease
 in mortality rates will generally increase policy liabilities for
 policies with longevity risk such as payout annuities.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">No amounts related to morbidity risk are included for
 policies where the policy liability provides only for claims costs
 expected over a short period, generally less than one year, such as
 Group Life and Health.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impacts of the adverse sensitivities on LTC for
 morbidity, mortality and lapse do not assume any partial offsets
 from the Company&#x2019;s ability to contractually raise premium
 rates in such events, subject to state regulatory approval. In
 practice, the Company would plan to file for rate increases equal
 to the amount of deterioration resulting from the sensitivity.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">This includes a 5% deterioration in incidence rates
 and 5% deterioration in claim termination rates.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders arising from changes
 to&#xA0;<font style="WHITE-SPACE: nowrap">non-economic</font>&#xA0;assumptions
 for Long-Term Care included in the above table<sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">(1),(2)</sup></b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="91%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Decrease&#xA0;in&#xA0;net&#xA0;income<br />
 attributed&#xA0;to&#xA0;shareholders</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Policy related assumptions</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2% adverse change in future mortality rates</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(200</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5% adverse change in future morbidity incidence rates</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,700</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5% adverse change in future morbidity claims termination rates</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,800</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 10% adverse change in future policy termination rates</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(400</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5% increase in future expense levels</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(100</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impacts of the adverse sensitivities on LTC for
 morbidity, mortality and lapse do not assume any partial offsets
 from the Company&#x2019;s ability to contractually raise premium
 rates in such events, subject to state regulatory approval. In
 practice, the Company would plan to file for rate increases equal
 to the amount of deterioration resulting from the
 sensitivities.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impact of favourable changes to all the
 sensitivities is relatively symmetrical.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(f) Provision for adverse deviation
 assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The assumptions made in establishing insurance contract liabilities
 reflect expected best estimates of future experience. To recognize
 the uncertainty in these best estimate assumptions, to allow for
 possible misestimation of and deterioration in experience and to
 provide a greater degree of assurance that the insurance contract
 liabilities are adequate to pay future benefits, the Appointed
 Actuary is required to include a margin in each assumption.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Margins are released into future earnings as the policy is released
 from risk. Margins for interest rate risk are included by testing a
 number of scenarios of future interest rates. The margin can be
 established by testing a limited number of scenarios, some of which
 are prescribed by the Canadian Actuarial Standards of Practice, and
 determining the liability based on the worst outcome.
 Alternatively, the margin can be set by testing many scenarios,
 which are developed according to actuarial guidance. Under this
 approach, the liability would be the average of the outcomes above
 a percentile in the range prescribed by the Canadian Actuarial
 Standards of Practice.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Specific guidance is also provided for other risks such as market,
 credit, mortality and morbidity risks. For other risks which are
 not specifically addressed by the Canadian Institute of Actuaries,
 a range is provided of five per cent to 20&#xA0;per cent of the
 expected experience assumption. The Company uses assumptions within
 the permissible ranges, with the determination of the level set
 considering the risk profile of the business. On occasion, in
 specific circumstances for additional prudence, a margin may exceed
 the high end of the range, which is permissible under the Canadian
 Actuarial Standards of Practice. This additional margin would be
 released if the specific circumstances which led to it being
 established were to change.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Each margin is reviewed annually for continued appropriateness.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(g) Change in insurance contract
 liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The change in insurance contract liabilities was a result of the
 following business activities and changes in actuarial
 estimates.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="60%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net&#xA0;actuarial<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Other<br />
 insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net<br />
 insurance<br />
 contract<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Reinsurance<br />
 assets</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Gross<br />
 insurance<br />
 contract<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>263,091</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,155</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>274,246</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,359</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>304,605</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 New policies<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,269</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,269</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>388</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,657</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Normal&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;movement<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,044</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>985</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,029</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,150</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,879</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in methods and assumptions<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(173</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(174</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(608</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(782</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of annuity coinsurance transactions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(11,156</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(11,156</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,156</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>15,686</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>829</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>16,515</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,780</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>19,295</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>272,761</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,968</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>285,729</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>42,925</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>328,654</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net actuarial<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Other<br />
 insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net<br />
 insurance<br />
 contract<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Reinsurance<br />
 assets</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Gross<br />
 insurance<br />
 contract<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">251,738</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">10,815</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">262,553</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">34,952</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">297,505</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 New policies<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,545</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,545</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">441</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,986</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Normal&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;movement<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,192</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">930</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,122</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(3,097</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,025</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in methods and assumptions<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">305</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(28</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">277</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of U.S. Tax Reform<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3),(4)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Increase due to decision to change the portfolio asset mix
 supporting legacy businesses<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,340</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,340</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">43</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,383</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(11,275</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(562</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(11,837</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(2,027</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(13,864</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;263,091</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;11,155</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;274,246</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;30,359</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;304,605</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 2px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other insurance contract liabilities are comprised of
 benefits payable and provision for unreported claims and
 policyholder amounts on deposit.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2018, the $2,907 increase reported as the change in
 insurance contract liabilities on the Consolidated Statements of
 Income primarily consists of changes due to normal in-force
 movement, new policies and changes in methods and assumptions.
 These three items in the gross insurance contract liabilities were
 netted off by an increase of $4,754, of which $3,632 is included in
 the Consolidated Statements of Income increase in insurance
 contract liabilities and $1,122 is included in gross claims and
 benefits. The Consolidated Statements of Income change in insurance
 contract liabilities also includes the change in embedded
 derivatives associated with insurance contracts. The Company
 finalized its estimate of U.S. Tax reform which resulted in a
 $196&#xA0;<font style="WHITE-SPACE: nowrap">pre-tax</font>&#xA0;($154&#xA0;<font style="WHITE-SPACE: nowrap">post-tax)</font>&#xA0;increase
 in insurance contract liabilities, refer to note 5.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2017, the $20,023 increase reported as the change
 in insurance contract liabilities on the Consolidated Statements of
 Income primarily consists of changes due to
 normal&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;movement,
 new policies, changes in methods and assumptions, the impact of
 U.S. Tax Reform and the increase due to the decision to change the
 portfolio asset mix supporting legacy businesses. These five items
 in the gross insurance contract liabilities were netted off by an
 increase of $20,964, of which $20,212 is included in the
 Consolidated Statements of Income increase in insurance contract
 liabilities and $752 is included in gross claims and benefits. The
 Consolidated Statements of Income change in insurance contract
 liabilities also includes the change in embedded derivatives
 associated with insurance contracts.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2017, the impact of U.S. Tax Reform, which includes
 the lowering of the U.S. corporate tax rate from 35% to 21% and
 limits on the tax deductibility of reserves, resulted in a
 $2,246&#xA0;<font style="WHITE-SPACE: nowrap">pre-tax</font>&#xA0;($1,774&#xA0;<font style="WHITE-SPACE: nowrap">post-tax)</font>&#xA0;increase
 in policy liabilities due to the impact of temporary tax timing and
 permanent tax rate differences on the cash flows available to
 satisfy policyholder obligations. The $472 deferred tax impact on
 this increase in policy liabilities, together with the impact of
 U.S. Tax Reform on the Company&#x2019;s deferred tax assets and
 liabilities is included in note&#xA0;5.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2017, the decision to reduce the allocation to ALDA
 in the portfolio asset mix supporting the Company&#x2019;s North
 American legacy businesses resulted in an increase in policy
 liabilities due to the impact on future expected investment income
 on assets supporting the policies.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(h) Actuarial methods and
 assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 A comprehensive review of valuation assumptions and methods is
 performed annually. The review reduces the Company&#x2019;s exposure
 to uncertainty by ensuring assumptions for both asset and liability
 related risks remain appropriate. This is accomplished by
 monitoring experience and updating assumptions which represent a
 best estimate view of future experience, and margins that are
 appropriate for the risks assumed. While the assumptions selected
 represent the Company&#x2019;s current best estimates and assessment
 of risk, the ongoing monitoring of experience and the economic
 environment is likely to result in future changes to the valuation
 assumptions, which could be material.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Annual review 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The completion of the 2018 annual review of actuarial methods and
 assumptions resulted in a decrease in insurance contract
 liabilities of $174, net of reinsurance, and a decrease in net
 income attributed to shareholders of
 $51&#xA0;<font style="WHITE-SPACE: nowrap">post-tax.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="86%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Change in insurance contract liabilities,<br />
 net of reinsurance</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Attributed to<br />
 participating<br />
 policyholders&#x2019;<br />
 account</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Attributed to<br />
 shareholders&#x2019;<br />
 account</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Change&#xA0;in&#xA0;net<br />
 income&#xA0;attributed<br />
 to shareholders<br />
 <font style="WHITE-SPACE: nowrap">(post-tax)</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortality and morbidity updates</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;319</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;(192</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;511</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;(360</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Lapses and policyholder behaviour</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>287</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>287</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(226</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment return assumptions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(96</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>50</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(146</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>143</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other updates</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(684</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(94</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(590</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>392</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net impact</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;(174</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;(236</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;62</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;(51</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Updates to mortality and morbidity
 assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Mortality and morbidity updates resulted in a
 $360&#xA0;<font style="WHITE-SPACE: nowrap">post-tax</font>&#xA0;charge to
 net income attributed to shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The primary driver of the charge is related to updates to mortality
 and morbidity assumptions for the Company&#x2019;s structured
 settlement and term renewal business in Canada. A review of
 mortality assumptions for the Company&#x2019;s U.S. group pension
 annuity business and certain blocks of life insurance business
 resulted in a small charge to earnings, and other updates to
 mortality and morbidity assumptions led to a small net charge.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Updates to lapses and policyholder
 behaviour</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Lapse and policyholder behaviour updates resulted in a
 $226&#xA0;<font style="WHITE-SPACE: nowrap">post-tax</font>&#xA0;charge to
 net income attributed to shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The primary driver of the charge is related to updated lapse and
 premium persistency rates for certain U.S. insurance product lines
 ($252&#xA0;<font style="WHITE-SPACE: nowrap">post-tax</font>&#xA0;charge).
 This included updates to universal
 life&#xA0;<font style="WHITE-SPACE: nowrap">no-lapse</font>&#xA0;guarantee
 business lapse assumptions to better reflect emerging experience,
 which showed a variation in lapses based on premium funding levels,
 partially offset by favourable lapse experience on several of the
 U.S. life insurance product lines.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Other updates to lapse and policyholder behaviour assumptions were
 made across several product lines to reflect recent experience.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Updates to investment return
 assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Investment return assumption updates resulted in a
 $143&#xA0;<font style="WHITE-SPACE: nowrap">post-tax</font>&#xA0;gain to net
 income attributed to shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company updated its bond default rates to reflect recent
 experience, leading to a $401&#xA0;<font style="WHITE-SPACE: nowrap">post-tax</font>&#xA0;gain and
 updated the investment return assumptions for ALDA and public
 equities, specifically oil and gas, which led to a
 $210&#xA0;<font style="WHITE-SPACE: nowrap">post-tax</font>&#xA0;charge.
 Other refinements to the projections of investment returns resulted
 in a $48&#xA0;<font style="WHITE-SPACE: nowrap">post-tax</font>&#xA0;charge.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Other updates</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Refinements to the projection of the tax and liability cashflows
 across multiple product lines led to
 a&#xA0;<font style="WHITE-SPACE: nowrap">post-tax</font>&#xA0;gain to net
 income attributed to shareholders of $392. The refinements were
 primarily driven by the projection of tax cashflows as the Company
 reviewed the deductibility of certain reserves. In addition, the
 Company refined the projection of policyholder crediting rates for
 certain products.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Annual Review 2017</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The quantification of the impact of the 2017 comprehensive review
 of valuation methods and assumptions is as of July&#xA0;1, 2017 for
 all lines of business.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The 2017 full year review of actuarial methods and assumptions
 resulted in an increase in insurance and investment contract
 liabilities of $277, net of reinsurance, and a decrease in net
 income attributed to shareholders of
 $35&#xA0;<font style="WHITE-SPACE: nowrap">post-tax.</font>&#xA0;These
 charges exclude the impacts of the U.S. Tax Reform and reducing the
 allocation to ALDA in the Company&#x2019;s portfolio asset mix. The
 charge to net income in the fourth quarter of 2017 for these two
 items was $2.8&#xA0;billion, which primarily related to
 the&#xA0;<font style="WHITE-SPACE: nowrap">post-tax</font>&#xA0;change in
 policy liabilities. Refer to notes 5 and 7(g) for further
 details.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="85%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="10" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Change in insurance contract liabilities,</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">net of reinsurance</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Attributed to<br />
 participating<br />
 policyholders&#x2019;<br />
 account</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Attributed to<br />
 shareholders&#x2019;<br />
 account</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Change&#xA0;in&#xA0;net<br />
 income&#xA0;attributed<br />
 to shareholders<br />
 <font style="WHITE-SPACE: nowrap">(post-tax)</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortality and morbidity updates</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(254</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;9</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(263</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;299</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Lapses and policyholder behaviour</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;1,019</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,019</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(783</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other updates</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 ALDA and public equity investment return assumptions</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,296</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;1,291</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(892</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate spread assumptions</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(515</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(514</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">344</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Refinements to liability and tax cash flows</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,049</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,049</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">696</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(220</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">84</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(304</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">301</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net impact</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">277</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;&#xA0;97</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;180</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;&#xA0;(35</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Updates to mortality and morbidity
 assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Mortality and morbidity updates resulted in a $299 benefit to net
 income attributed to shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company completed a detailed review of the mortality
 assumptions for its U.S. life insurance business which resulted in
 a $384 charge to net income attributed to shareholders. Assumptions
 were increased, particularly at older ages, reflecting both
 industry and the Company&#x2019;s own experience.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Updates to actuarial standards related to future mortality
 improvement, and the review of mortality improvement assumptions
 globally, resulted in a $264 benefit to net income attributed to
 shareholders primarily in Canada and Asia. The updated actuarial
 standards include a diversification benefit for the determination
 of margins for adverse deviation which recognizes the offsetting
 impact of longevity and mortality risk.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company completed a detailed review of mortality assumptions
 for its Canadian retail insurance business which resulted in a $222
 benefit to net income attributed to shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Other updates to mortality and morbidity assumptions led to a $197
 benefit to net income attributed to shareholders. These updates
 included a reduction in the margins for adverse deviation applied
 to morbidity assumptions for certain medical insurance products in
 Japan.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Updates to lapses and policyholder
 behaviour</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Updates to lapses and policyholder behaviour assumptions resulted
 in a $783 charge to net income attributed to shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In Canadian retail insurance, lapse assumptions were reduced for
 certain universal life products to reflect recent experience,
 leading to a $315 charge to net income attributed to
 shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 For Canadian segregated fund guaranteed minimum withdrawal benefit
 lapses, incidence and utilization assumptions were updated to
 reflect recent experience which led to a $242 charge to net income
 attributed to shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Other updates to lapse and policyholder behaviour assumptions were
 made across several product lines including a reduction in lapse
 assumptions for the Company&#x2019;s whole life insurance products
 in Japan, leading to a $226 charge to net income attributed to
 shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Other updates</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Other updates resulted in a $449 benefit to net income attributed
 to shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company reviewed its investment return assumptions for ALDA and
 public equities, which in aggregate led to a reduction in return
 assumptions and a $892 charge to net income attributed to
 shareholders. The Company also reviewed future corporate spread
 assumptions, which led to a $344 benefit to net income attributed
 to shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Refinements to the projection of the Company&#x2019;s liability and
 tax cash flows in the U.S. resulted in a $696 benefit to net income
 attributed to shareholders. These changes included refinements to
 the projection of policyholder crediting rates for certain
 universal life insurance products.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Other refinements resulted in a $301 benefit to net income
 attributed to shareholders. These changes included a review of
 provisions for reinsurance counterparty credit risk and several
 other refinements to the projection of both the Company&#x2019;s
 asset and liability cash flows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(i) Insurance contracts contractual
 obligations</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Insurance contracts give rise to obligations fixed by agreement. As
 at December&#xA0;31, 2018, the Company&#x2019;s contractual
 obligations and commitments relating to insurance contracts are as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="63%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>Payments due by period</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Less&#xA0;than<br />
 1 year</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 to 3</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">3 to 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Over 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Insurance contract liabilities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;9,327</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;10,863</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;17,994</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;750,238</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;788,422</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Insurance contract liability cash flows include
 estimates related to the timing and payment of death and disability
 claims, policy surrenders, policy maturities, annuity payments,
 minimum guarantees on segregated fund products, policyholder
 dividends, commissions and premium taxes offset by contractual
 future premiums on&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;contracts.
 These estimated cash flows are based on the best estimate
 assumptions used in the determination of insurance contract
 liabilities. These amounts are undiscounted and reflect recoveries
 from reinsurance agreements. Due to the use of assumptions, actual
 cash flows may differ from these estimates. Cash flows include
 embedded derivatives measured separately at fair value.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(j) Gross claims and
 benefits</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents a breakdown of gross claims and
 benefits.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="92%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Death, disability and other claims</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,174</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">14,871</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Maturity and surrender benefits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,722</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,302</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuity payments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,262</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,470</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policyholder dividends and experience rating refunds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,809</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,085</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net transfers from segregated funds</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,089</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,734</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;27,878</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;24,994</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(k) Annuity coinsurance
 transactions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 On September&#xA0;26, 2018, the Company entered into coinsurance
 agreements with Reinsurance Group of America (&#x201C;RGA&#x201D;) to
 reinsure a block of legacy U.S.
 individual&#xA0;<font style="WHITE-SPACE: nowrap">pay-out</font>&#xA0;annuities
 business from John Hancock Life Insurance Company (U.S.A.)
 (&#x201C;JHUSA&#x201D;) and John Hancock Life Insurance Company of
 New York (&#x201C;JHNY&#x201D;).&#xA0;Under the terms of the
 agreements, the Company will maintain responsibility for servicing
 the policies.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The JHUSA transaction closed with an effective date of July&#xA0;1,
 2018 with a 100% quota share. The transaction was structured such
 that the Company ceded policyholder contract liabilities and
 transferred related invested assets backing these liabilities. The
 Company recorded an&#xA0;<font style="WHITE-SPACE: nowrap">after-tax</font>&#xA0;loss of
 $74 at the inception of the agreement, consisting of ceded premiums
 of $3.7&#xA0;billion and an increase of reinsurance assets of
 $3.6&#xA0;billion on the Consolidated Statements of Income.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 On October&#xA0;31, 2018, the Company entered into coinsurance
 agreements with Jackson National Life Insurance Company
 (&#x201C;Jackson&#x201D;), a wholly-owned subsidiary of Prudential
 plc, to reinsure a block of legacy U.S.
 group&#xA0;<font style="WHITE-SPACE: nowrap">pay-out</font>&#xA0;annuities
 business from JHUSA and JHNY. Under the terms of the agreements,
 the Company will maintain responsibility for servicing the
 policies.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The JHUSA transaction closed with an effective date of
 October&#xA0;1, 2018 with a 100% quota share. The transaction was
 structured such that the Company ceded policyholder contract
 liabilities and transferred related invested assets backing these
 liabilities. The Company recorded an&#xA0;<font style="WHITE-SPACE: nowrap">after-tax</font>&#xA0;gain of
 $142 at the inception of the agreement, consisting of ceded
 premiums of $7.0&#xA0;billion and an increase of reinsurance assets
 of $7.5&#xA0;billion on the Consolidated Statements of Income.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The JHNY transaction with Jackson is expected to close separately
 in the first quarter of 2019. The JHNY transaction with RGA closed
 on February 7, 2019. These transactions are expected to result in
 an&#xA0;<font style="WHITE-SPACE: nowrap">after-tax</font>&#xA0;gain of
 approximately $80.</p>


 </div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for insurance contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=sect_Disclosure&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=17&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855878432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investment Contract Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#2A517F"><b>Note 8&#xA0;&#xA0;&#xA0;&#xA0;Investment
 Contract Liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Investment contract liabilities are contractual obligations that do
 not contain significant insurance risk. Those contracts are
 measured either at fair value or at amortized cost.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(a) Investment contract liabilities
 measured at fair value</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment contract liabilities measured at fair value include
 certain investment savings and pension products sold primarily in
 Hong Kong and mainland China. The following table presents the
 movement in investment contract liabilities measured at fair value
 during the year.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="80%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>639</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">631</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 New policies</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>96</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">50</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in market conditions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>76</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">76</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redemptions, surrenders and maturities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(86</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(72</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>57</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(46</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;782</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;639</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(b) Investment contract liabilities
 measured at amortized cost</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment contract liabilities measured at amortized cost include
 several fixed annuity products sold in Canada and U.S. fixed
 annuity products that provide guaranteed income payments for a
 contractually determined period and are not contingent on
 survivorship.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Carrying value and fair value of investment contract liabilities
 measured at amortized cost.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="86%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="8"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Amortized<br />
 cost, gross of<br />
 reinsurance<br />
 ceded<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Amortized</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">cost, gross of<br />
 reinsurance<br />
 ceded<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S. fixed annuity products</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,357</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,449</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;&#xA0;&#xA0;$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;1,282</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;1,433</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canadian fixed annuity products</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,126</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,269</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,205</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,354</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Investment contract liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;&#xA0;&#xA0;&#xA0;$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,483</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,718</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;&#xA0;&#xA0;$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,487</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,787</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">During the year, investment contract labilities with
 the carrying value and fair value of $128 and $130, respectively
 (2017 &#x2013; $nil and $nil, respectively), were reinsured by the
 Company. As at December&#xA0;31, 2018, the net carrying value and
 fair value of investment contracts labilities were $2,355 and
 $2,588, respectively.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The changes in investment contract liabilities measured at
 amortized cost was a result of the following business
 activities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;2,487</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;2,644</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy deposits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">68</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>82</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">100</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Withdrawals</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(201</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(232</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>110</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(91</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,483</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,487</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Carrying value of fixed annuity products is amortized at a rate
 that exactly discounts the projected actual cash flows to the net
 carrying amount of the liability at the date of issue.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Fair value of fixed annuity products is determined by projecting
 cash flows according to the contract terms and discounting the cash
 flows at current market rates adjusted for the Company&#x2019;s own
 credit standing. As at December&#xA0;31, 2018 and 2017, all
 investment contracts were categorized in Level&#xA0;2 of the fair
 value hierarchy.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(c) Investment contracts contractual
 obligations</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 As at December&#xA0;31, 2018, the Company&#x2019;s contractual
 obligations and commitments relating to the investment contracts
 are as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="58%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>Payments due by period</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Less
 than<br />
 1 year</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 to 3</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">3 to 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Over 5<br />
 years</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment contract liabilities<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;193</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;492</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;476</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;4,312</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;5,473</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Due to the nature of the products, the timing of net
 cash flows may be before contract maturity. Cash flows are
 undiscounted.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of investment contracts liabilities. [Refer: Investment contracts liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834810288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risk Management<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialRiskManagementExplanatory', window );">Risk Management</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 9&#xA0;&#xA0;&#xA0;&#xA0;Risk
 Management</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s policies and procedures for managing risk
 related to financial instruments are presented in the &#x201C;Risk
 Management&#x201D; section of the Company&#x2019;s MD&amp;A for the
 year ended December&#xA0;31, 2018. Specifically, these disclosures
 are included in &#x201C;Market Risk&#x201D; and &#x201C;Liquidity
 Risk&#x201D; in that section. These disclosures are in accordance
 with IFRS 7 &#x201C;Financial Instruments: Disclosures&#x201D; and
 therefore, only the shaded text and tables in the &#x201C;Risk
 Management&#x201D; section form an integral part of these
 Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Credit risk</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Credit risk is the risk of loss due to inability or unwillingness
 of a borrower, or counterparty, to fulfill its payment obligations.
 Worsening regional and global economic conditions, segment or
 industry sector challenges, or company specific factors could
 result in defaults or downgrades and could lead to increased
 provisions or impairments related to the Company&#x2019;s general
 fund invested assets, derivative financial instruments and
 reinsurance assets and an increase in provisions for future credit
 impairments that are included in actuarial liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s exposure to credit risk is managed through risk
 management policies and procedures which include a defined credit
 evaluation and adjudication process, delegated credit approval
 authorities and established exposure limits by borrower, corporate
 connection, credit rating, industry and geographic region. The
 Company measures derivative counterparty exposure as net potential
 credit exposure, which takes into
 consideration&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">mark-to-market</font></font>&#xA0;values
 of all transactions with each counterparty, net of any collateral
 held, and an allowance to reflect future potential exposure.
 Reinsurance counterparty exposure is measured reflecting the level
 of ceded liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company also ensures where warranted, that mortgages, private
 placements and loans to Bank clients are secured by collateral, the
 nature of which depends on the credit risk of the counterparty.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 An allowance for losses on loans is established when a loan becomes
 impaired. Allowances for loan losses are calculated to reduce the
 carrying value of the loans to estimated net realizable value. The
 establishment of such allowances takes into consideration normal
 historical credit loss levels and future expectations, with an
 allowance for adverse deviations. In addition, policy liabilities
 include general provisions for credit losses from future asset
 impairments. Impairments are identified through regular monitoring
 of all credit related exposures, considering such information as
 general market conditions, industry and borrower specific credit
 events and any other relevant trends or conditions. Allowances for
 losses on reinsurance contracts are established when a reinsurance
 counterparty becomes unable or unwilling to fulfill its contractual
 obligations. The allowance for loss is based on current recoverable
 amounts and ceded policy liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Credit risk associated with derivative counterparties is discussed
 in note 9(d) and credit risk associated with reinsurance
 counterparties is discussed in note 9(i).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Credit exposure</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the gross carrying amount of financial
 instruments subject to credit exposure, without considering any
 collateral held or other credit enhancements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="80%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;154,737</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;147,024</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,857</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">26,976</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,363</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">44,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,754</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">32,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,793</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,737</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,703</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,569</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Accrued investment income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,427</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,182</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reinsurance assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>43,053</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">30,359</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other financial assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,253</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;341,933</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;311,782</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 As at December 31, 2018, 99% (2017-99%) of debt securities were
 investment grade-rated with ratings ranging between AAA to BBB.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Credit quality</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Credit quality of commercial mortgages and private placements is
 assessed at least annually by using an internal rating based on
 regular monitoring of credit-related exposures, considering both
 qualitative and quantitative factors.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 A provision is recorded when the internal risk ratings indicate
 that a loss represents the most likely outcome. These assets are
 designated as&#xA0;<font style="WHITE-SPACE: nowrap">non-accrual</font>&#xA0;and an
 allowance is established based on an analysis of the security and
 repayment sources.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Credit quality of commercial mortgages and private placements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="46%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">AAA</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">AA</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">A</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">BBB</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">BB</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">B&#xA0;and&#xA0;lower</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Commercial mortgages</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Retail</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>82</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,524</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,459</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,227</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>74</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,377</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Office</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,495</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,454</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,650</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>45</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,706</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Multi-family residential</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>613</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,427</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,407</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>839</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,323</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Industrial</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>36</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>366</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,953</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>339</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>120</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,814</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>289</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>334</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>1,167</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>1,191</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>14</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>2,995</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt; TEXT-INDENT: -1em">
 <b>Total commercial mortgages</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>1,076</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>5,146</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>15,440</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>6,246</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>213</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>94</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>28,215</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Agricultural mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>163</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>389</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>552</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,143</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,968</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,304</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14,055</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>733</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,551</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>35,754</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;2,219</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;10,277</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;28,744</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;20,690</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>946</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;1,645</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;64,521</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">AAA</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">AA</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">A</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">BBB</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">BB</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">B&#xA0;and&#xA0;lower</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Commercial mortgages</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Retail</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">110</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1,517</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,363</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,050</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">44</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">57</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">8,141</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Office</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">57</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,272</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,635</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,647</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">70</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">28</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,709</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Multi-family residential</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">523</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,395</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,805</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">726</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,449</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Industrial</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">33</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">386</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,542</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">477</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">145</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,583</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right">362</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right">331</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right">1,012</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right">973</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right">14</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="right">2,692</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total commercial mortgages</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,085</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,901</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">13,357</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,873</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">273</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">85</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">25,574</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Agricultural mortgages</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">159</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">405</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">25</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">589</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,038</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,246</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">11,978</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">13,160</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">717</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">993</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">32,132</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">2,123</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">9,306</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">25,335</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">19,438</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,015</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">1,078</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">58,295</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Credit quality of residential mortgages and loans to Bank clients
 is assessed at least annually with the loan being performing
 or&#xA0;<font style="WHITE-SPACE: nowrap">non-performing</font>&#xA0;as
 the key credit quality indicator.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Full or partial write-offs of loans are recorded when management
 believes that there is no realistic prospect of full recovery.
 Write-offs, net of recoveries, are deducted from the allowance for
 credit losses. All impairments are captured in the allowance for
 credit losses.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Credit quality of residential mortgages and loans to Bank
 clients.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="52%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="12"></td>
 <td height="5" colspan="2"></td>
 <td height="5" colspan="12"></td>
 </tr>
 <tr style="FONT-SIZE: 10pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b><font style="FONT-SIZE: 4.5pt"><sup style="FONT-SIZE: 5px; VERTICAL-ALIGN: top">(1)</sup></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-SIZE: 7pt">2017</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Insured</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Uninsured</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Insured</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Uninsured</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Residential mortgages</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Performing</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,854</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,696</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,550</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">7,256</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">11,310</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">18,566</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-performing</font></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>19</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>46</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Loans to Bank clients</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Performing</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,787</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,787</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,734</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,734</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-performing</font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;6,873</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;14,516</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;21,389</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right">&#xA0;&#xA0;7,260</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right">&#xA0;&#xA0;13,056</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right">&#xA0;&#xA0;20,316</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"><font style="WHITE-SPACE: nowrap">Non-performing</font>&#xA0;refers
 to assets that are 90 days or more past due.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The carrying value of government-insured mortgages was 15% of the
 total mortgage portfolio as at December&#xA0;31, 2018 (2017 &#x2013;
 17%). Most of these insured mortgages are residential loans as
 classified in the table above.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Past due or credit impaired financial
 assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company provides for credit risk by establishing allowances
 against the carrying value of impaired loans and recognizing
 impairment losses on AFS debt securities. In addition, the Company
 reports as impairment certain declines in the fair value of debt
 securities designated as FVTPL which it deems represent an
 impairment.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Past due but not impaired and impaired
 financial assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="73%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Past due but not impaired</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Less&#xA0;than<br />
 90 days</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">90 days<br />
 and&#xA0;greater</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total<br />
 impaired</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>39</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>15</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>15</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em">
 Mortgages and loans to Bank clients</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>70</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>70</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>120</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other financial assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>77</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>26</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>103</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;176</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;28</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;204</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;179</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="12"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center">Past due but not impaired</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Less than<br />
 90 days</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">90 days<br />
 and greater</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total<br />
 impaired</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">45</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">104</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">106</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">363</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">363</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages and loans to Bank clients</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">76</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">92</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">86</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other financial assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">46</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">26</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">72</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">589</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">44</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">633</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">173</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Impaired loans</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="71%"></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Gross<br />
 carrying<br />
 value</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Allowances&#xA0;for<br />
 loan&#xA0;losses</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Net&#xA0;carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>61</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>43</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages and loans to Bank clients</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>172</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>52</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>120</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;233</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;95</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;138</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Gross<br />
 carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Allowances for<br />
 loan losses</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Net carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">79</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">39</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">40</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages and loans to Bank clients</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">132</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">46</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">86</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">211</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">85</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">126</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Allowance for loan losses</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="45%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="12"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="12"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="10" align="center">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br /></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Private<br />
 placements</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br /></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Mortgages<br />
 and&#xA0;loans&#xA0;to<br />
 Bank clients</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;<br /></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">Private<br />
 placements</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;<br />
 <br /></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">Mortgages<br />
 and&#xA0;loans&#xA0;to<br />
 Bank clients</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>39</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>46</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>85</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">92</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">26</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;118</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Provisions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>55</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">33</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Recoveries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(36</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(12</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(13</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Write-offs<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(6</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(43</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(12</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(55</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;43</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;52</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;95</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;39</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;46</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">85</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes disposals and impact of changes in foreign
 exchange rates.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Securities lending, repurchase and
 reverse repurchase transactions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company engages in securities lending to generate fee income.
 Collateral exceeding the market value of the loaned securities is
 retained by the Company until the underlying security has been
 returned to the Company. The market value of the loaned securities
 is monitored daily and additional collateral is obtained or
 refunded as the market value of the underlying loaned securities
 fluctuates. As at December&#xA0;31, 2018, the Company had loaned
 securities (which are included in invested assets) with a market
 value of $1,518 (2017 &#x2013; $1,563). The Company holds collateral
 with a current market value that exceeds the value of securities
 lent in all cases.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company engages in reverse repurchase transactions to generate
 fee income, to take possession of securities to cover short
 positions in similar instruments and to meet short-term funding
 requirements. As at December&#xA0;31, 2018, the Company had engaged
 in reverse repurchase transactions of $63 (2017 &#x2013; $230) which
 are recorded as short-term receivables. In addition, the Company
 had engaged in repurchase transactions of $64 as at
 December&#xA0;31, 2018 (2017 &#x2013; $228) which are recorded as
 payables.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Credit default swaps</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company replicates exposure to specific issuers by selling
 credit protection via credit default swaps (&#x201C;CDSs&#x201D;) to
 complement its cash debt securities investing. The Company does not
 write CDS protection more than its government bond holdings. A CDS
 is a derivative instrument representing an agreement between two
 parties to exchange the credit risk of a single specified entity or
 an index based on the credit risk of a group of entities (all
 commonly referred to as the &#x201C;reference entity&#x201D; or a
 portfolio of &#x201C;reference entities&#x201D;), in return for a
 periodic premium. CDS contracts typically have a five-year
 term.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents details of the credit default swap
 protection sold by type of contract and external agency rating for
 the underlying reference security.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="74%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Notional<br />
 amount<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Weighted<br />
 average<br />
 maturity</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;years)<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Single name CDSs<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)&#xA0;</sup>&#x2013;
 Corporate debt</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AA</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>25</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 A</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>447</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 BBB</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>180</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 Total single name CDSs</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>652</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>9</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>2</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total CDS protection sold</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>652</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>9</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>2</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="13"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Notional<br />
 amount<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Weighted<br />
 average<br />
 maturity</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;years)<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Single name CDSs<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)&#xA0;</sup>&#x2013;
 Corporate debt</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 AAA</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">13</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 AA</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 A</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">408</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 BBB</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">150</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 Total single name CDSs</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">&#xA0;&#xA0;606</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">&#xA0;&#xA0;14</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">3</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total CDS protection sold</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">&#xA0;&#xA0;606</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">&#xA0;&#xA0;14</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">3</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)&#xA0;</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Notional amounts represent the maximum future payments
 the Company would have to pay its counterparties assuming a default
 of the underlying credit and zero recovery on the underlying issuer
 obligation.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)&#xA0;</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The weighted average maturity of the CDS is weighted
 based on notional amounts.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)&#xA0;</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Rating agency designations are based on S&amp;P where
 available followed by Moody&#x2019;s, DBRS, and Fitch. If no rating
 is available from a rating agency, an internally developed rating
 is used.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company held no purchased credit protection as at
 December&#xA0;31, 2018 and 2017.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(d) Derivatives</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">point-in-time</font></font>&#xA0;exposure
 to losses related to credit risk of a derivative counterparty is
 limited to the amount of any net gains that may have accrued with a
 counterparty. Gross derivative counterparty exposure is measured as
 the total fair value (including accrued interest) of all
 outstanding contracts in a gain position excluding any offsetting
 contracts in a loss position and the impact of collateral on hand.
 The Company limits the risk of credit losses from derivative
 counterparties by: using investment grade counterparties; entering
 into master netting arrangements which permit the offsetting of
 contracts in a loss position in the case of a counterparty default;
 and entering into Credit Support Annex agreements, whereby
 collateral must be provided when the exposure exceeds a certain
 threshold. All contracts are held with counterparties
 rated&#xA0;<font style="WHITE-SPACE: nowrap">BBB-</font>&#xA0;or higher. As
 at December&#xA0;31, 2018, the percentage of the Company&#x2019;s
 derivative exposure with counterparties
 rated&#xA0;<font style="WHITE-SPACE: nowrap">AA-</font>&#xA0;or higher was
 19&#xA0;per cent (2017 &#x2013; 20 per cent). The Company&#x2019;s
 exposure to credit risk was mitigated by $7,848 fair value of
 collateral held as security as at December&#xA0;31, 2018 (2017
 &#x2013; $10,138).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 As at December&#xA0;31, 2018, the largest single counterparty
 exposure, without considering the impact of master netting
 agreements or the benefit of collateral held, was $2,269 (2017
 &#x2013; $2,629). The net exposure to this counterparty, after
 considering master netting agreements and the fair value of
 collateral held, was $nil (2017 &#x2013; $nil). As at
 December&#xA0;31, 2018, the total maximum credit exposure related
 to derivatives across all counterparties, without considering the
 impact of master netting agreements and the benefit of collateral
 held, was $14,320 (2017 &#x2013; $16,204).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(e) Offsetting financial assets and
 financial liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Certain derivatives, securities lent and repurchase agreements have
 conditional offset rights. The Company does not offset these
 financial instruments in the Consolidated Statements of Financial
 Position, as the rights of offset are conditional.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In the case of derivatives, collateral is collected from and
 pledged to counterparties and clearing houses to manage credit risk
 exposure in accordance with Credit Support Annexes to swap
 agreements and clearing agreements. Under master netting
 agreements, the Company has a right of offset in the event of
 default, insolvency, bankruptcy or other early termination.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In the case of reverse repurchase and repurchase transactions,
 additional collateral may be collected from or pledged to
 counterparties to manage credit exposure according to bilateral
 reverse repurchase or repurchase agreements. In the event of
 default by a counterparty, the Company is entitled to liquidate the
 collateral held to offset against the same counterparty&#x2019;s
 obligation.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the effect of conditional master
 netting and similar arrangements. Similar arrangements may include
 global master repurchase agreements, global master securities
 lending agreements, and any related rights to financial
 collateral.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="45%"></td>
 <td valign="bottom" width="7%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">
 Related&#xA0;amounts&#xA0;not&#xA0;set&#xA0;off&#xA0;in&#xA0;the<br />

 Consolidated&#xA0;Statements&#xA0;of<br />
 Financial Position</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Gross&#xA0;amounts&#xA0;of<br />
 financial&#xA0;instruments<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Amounts&#xA0;subject&#xA0;to<br />
 an enforceable<br />
 master netting<br />
 arrangement or<br />
 similar agreements</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Financial
 and<br />
 cash&#xA0;collateral<br />
 pledged<br />
 (received)<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net&#xA0;amount<br />
 including<br />
 financing<br />
 trusts<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Net&#xA0;amounts<br />
 excluding<br />
 financing<br />
 trusts</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financial assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,320</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(6,644</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(7,431</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Securities lending</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,518</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,518</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reverse repurchase agreements</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>63</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(63</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total financial assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>&#xA0;&#xA0;15,901</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>(6,707</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>(8,949</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>&#xA0;&#xA0;&#xA0;245</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>&#xA0;&#xA0;245</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financial liabilities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(8,716</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;6,644</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;1,868</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(204</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(33</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Repurchase agreements</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(64</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>63</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total financial liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>(8,780</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>6,707</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>1,869</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>(204</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>(33</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>)&#xA0;</b></p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="45%"></td>
 <td valign="bottom" width="7%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="8"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Related&#xA0;amounts&#xA0;not
 set&#xA0;off&#xA0;in&#xA0;the<br />
 Consolidated Statements of<br />
 Financial Position</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Gross amounts of<br />
 financial&#xA0;instruments<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Amounts subject to<br />
 an enforceable<br />
 master netting<br />
 arrangement or<br />
 similar agreements</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Financial and<br />
 cash&#xA0;collateral<br />
 pledged<br />
 (received)<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net&#xA0;amount<br />
 including<br />
 financing<br />
 trusts<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Net&#xA0;amounts<br />
 excluding<br />
 financing<br />
 trusts</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financial assets</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">16,204</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(6,714</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(9,395</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">95</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">95</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Securities lending</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,563</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,563</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reverse repurchase agreements</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">230</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(46</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(184</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total financial assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">&#xA0;&#xA0;17,997</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">(6,760</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">(11,142</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">95</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">95</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financial liabilities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(8,649</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;6,714</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;1,718</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;(217</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;(30</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Repurchase agreements</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(228</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">46</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">182</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total financial liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">(8,877</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">6,760</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">1,900</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">(217</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">(30</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 )&#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Financial assets and liabilities include accrued
 interest of $621 and $913, respectively (2017 &#x2013; $638 and
 $827, respectively).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Financial and cash collateral exclude
 over-collateralization. As at December&#xA0;31, 2018, the Company
 was over-collateralized on OTC derivative assets, OTC derivative
 liabilities, securities lending and reverse purchase agreements and
 repurchase agreements in the amounts of $417, $405, $80 and $nil,
 respectively (2017 &#x2013; $743, $382, $79 and $nil, respectively).
 As at December&#xA0;31, 2018, collateral pledged (received) does
 not include&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">collateral-in-transit</font></font>&#xA0;on
 OTC instruments or initial margin on exchange traded contracts or
 cleared contracts.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes derivative contracts entered between the
 Company and its financing trusts which it does not consolidate. The
 Company does not exchange collateral on derivative contracts
 entered with these trusts. Refer to note 17.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company has certain credit linked note assets and variable
 surplus note liabilities which have unconditional offset rights.
 Under the netting agreements, the Company has rights of offset
 including in the event of the Company&#x2019;s default, insolvency,
 or bankruptcy. These financial instruments are offset in the
 Consolidated Statements of Financial Position.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 A credit linked note is a security that allows the issuer to
 transfer a specific credit risk to the buyer. A surplus note is a
 subordinated debt obligation that often qualifies as a surplus (the
 U.S. statutory equivalent of equity) by some U.S. state insurance
 regulators. Interest payments on surplus notes are made after all
 other contractual payments are made. The following table presents
 the effect of unconditional netting.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="57%"></td>
 <td valign="bottom" width="12%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="11%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right">Gross amounts
 of<br />
 financial&#xA0;instruments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right">Amounts subject
 to<br />
 an enforceable<br />
 netting&#xA0;arrangement</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right">
 Net&#xA0;amounts&#xA0;of<br />
 financial&#xA0;instruments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit linked note<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DBDED8" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DBDED8" valign="bottom"><b>$</b></td>
 <td bgcolor="#DBDED8" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;679</b></td>
 <td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td bgcolor="#DBDED8" valign="bottom"><b>$</b></td>
 <td bgcolor="#DBDED8" valign="bottom" align="right">
 <b>(679</b></td>
 <td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap" align="right"><b>&#xA0;&#xA0;&#xA0;&#x2013;</b></td>
 <td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Variable surplus note</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" align="right"><b>(679</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;679</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(120,132,109); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 </div>
 <center style="FONT-SIZE: medium; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <div style="WIDTH: 8.5in" align="left">
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="58%"></td>
 <td valign="bottom" width="12%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="11%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Gross&#xA0;amounts of<br />
 financial&#xA0;instruments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Amounts&#xA0;subject&#xA0;to<br />
 an enforceable<br />
 netting&#xA0;arrangement</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Net amounts of<br />
 financial&#xA0;instruments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit linked note<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">461</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;(461</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Variable surplus note</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">&#xA0;&#xA0;(461</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">461</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2017, the Company entered into a twenty-year
 financing facility with a third party, agreeing to issue variable
 surplus notes in exchange for an equal amount of credit linked
 notes. These notes are held to support JHUSA excess reserves under
 U.S. National Association of Insurance Commissioners&#x2019; Model
 Regulation XXX. In certain scenarios, the credit linked note will
 be drawn upon by the Company which will issue fixed surplus notes
 equal to the draw payment received. The third party has agreed to
 fund any such payment under the credit-linked notes in return for a
 fee. As at December&#xA0;31, 2018, the Company had no fixed surplus
 notes outstanding.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(f) Risk concentrations</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company defines enterprise-wide investment portfolio level
 targets and limits to ensure that portfolios are diversified across
 asset classes and individual investment risks. The Company monitors
 actual investment positions and risk exposures for concentration
 risk and reports its findings to the Executive Risk Committee and
 the Risk Committee of the Board of Directors.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="93%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities and private placements rated as investment grade
 BBB or higher<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>98%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">98%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Government debt securities as a per cent of total debt
 securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>38%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">39%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Government private placements as a per cent of total private
 placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Highest exposure to a single&#xA0;<font style="WHITE-SPACE: nowrap">non-government</font>&#xA0;debt
 security and private placement issuer</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,013</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1,044</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Largest single issuer as a per cent of the total equity
 portfolio</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income producing commercial office properties (2018 &#x2013; 55% of
 real estate, 2017 &#x2013; 64%)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,065</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">8,836</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Largest concentration of mortgages and real estate<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup>&#xA0;&#x2013;
 Ontario Canada (2018 &#x2013; 26%, 2017 &#x2013; 25%)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;16,092</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;14,779</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Investment grade debt securities and private
 placements include 41% rated A, 17% rated AA and 17% rated AAA
 (2017 &#x2013; 42%, 16% and 17%) investments based on external
 ratings where available.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Mortgages and real estate investments are diversified
 geographically and by property type.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Debt securities and private placements portfolio by sector and
 industry.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="88%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="8"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Carrying&#xA0;value</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">%&#xA0;of&#xA0;total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Carrying&#xA0;value</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">%&#xA0;of&#xA0;total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>73,858</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>33</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">71,888</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Utilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>41,929</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>19</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40,568</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">20</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Financial</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>31,340</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">27,923</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Energy</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,685</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,428</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Industrial</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,508</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14,691</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Consumer&#xA0;<font style="WHITE-SPACE: nowrap">(non-cyclical)</font></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,483</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14,009</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Consumer (cyclical)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,707</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,916</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Securitized</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,300</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,577</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Telecommunications</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,716</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,324</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Basic materials</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,539</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,248</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Technology</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,352</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,475</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Media and internet</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,112</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,136</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Diversified and miscellaneous</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>819</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">949</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;221,348</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>100</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;206,132</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">100</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(g) Insurance risk</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Insurance risk is the risk of loss due to actual experience for
 mortality and morbidity claims, policyholder behaviour and expenses
 emerging differently than assumed when a product was designed and
 priced. A variety of assumptions are made related to these
 experience factors, for reinsurance costs, and for sales levels
 when products are designed and priced, as well as in the
 determination of policy liabilities. Assumptions for future claims
 are generally based on both Company and industry experience, and
 assumptions for future policyholder behaviour and expenses are
 generally based on Company experience. Such assumptions require
 significant professional judgment, and actual experience may be
 materially different than the assumptions made by the Company.
 Claims may be impacted unexpectedly by changes in the prevalence of
 diseases or illnesses, medical and technology advances, widespread
 lifestyle changes, natural disasters,
 large-scale&#xA0;<font style="WHITE-SPACE: nowrap">man-made</font>&#xA0;disasters
 and acts of terrorism. Policyholder behaviour including premium
 payment patterns, policy renewals, lapse rates and withdrawal and
 surrender activity are influenced by many factors including market
 and general economic conditions, and the availability and relative
 attractiveness of other products in the marketplace. Some
 reinsurance rates are not guaranteed and may be changed
 unexpectedly. Adjustments the Company seeks to make
 to&#xA0;<font style="WHITE-SPACE: nowrap">Non-Guaranteed</font>&#xA0;elements
 to reflect changing experience factors may be challenged by
 regulatory or legal action and the Company may be unable to
 implement them or may face delays in implementation.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The Company manages insurance risk through global policies,
 standards and best practices with respect to product design,
 pricing, underwriting and claim adjudication, and a global
 underwriting manual. Each business unit establishes underwriting
 policies and procedures, including criteria for approval of risks
 and claims adjudication policies and procedures. The current global
 life retention limit is US$30 for individual policies (US$35 for
 survivorship life policies) and is shared across businesses. Lower
 limits are applied in some markets and jurisdictions. The Company
 aims to further reduce exposure to claims concentrations by
 applying geographical aggregate retention limits for certain
 covers. Enterprise-wide, the Company aims to reduce the likelihood
 of high aggregate claims by operating globally, insuring a wide
 range of unrelated risk events, and reinsuring some risk.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(h) Concentration risk</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The geographic concentration of the Company&#x2019;s insurance and
 investment contract liabilities, including embedded derivatives, is
 shown below. The disclosure is based on the countries in which the
 business is written.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="69%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Gross&#xA0;liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Reinsurance<br />
 assets</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net&#xA0;liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 U.S. and Canada</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>246,255</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>(42,634</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>203,621</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 Asia and Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>85,830</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>(419</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>85,411</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;332,085</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(43,053</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;289,032</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Gross liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Reinsurance<br />
 assets</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 U.S. and Canada</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">237,434</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">(30,225</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">207,209</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 Asia and Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">70,521</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">(134</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">70,387</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">307,955</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">(30,359</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">277,596</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(i) Reinsurance risk</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 In the normal course of business, the Company limits the amount of
 loss on any one policy by reinsuring certain levels of risk with
 other insurers. In addition, the Company accepts reinsurance from
 other reinsurers. Reinsurance ceded does not discharge the
 Company&#x2019;s liability as the primary insurer. Failure of
 reinsurers to honour their obligations could result in losses to
 the Company; consequently, allowances are established for amounts
 deemed uncollectible. To minimize losses from reinsurer insolvency,
 the Company monitors the concentration of credit risk both
 geographically and with any one reinsurer. In addition, the Company
 selects reinsurers with high credit ratings.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 As at December&#xA0;31, 2018, the Company had $43,053 (2017 &#x2013;
 $30,359) of reinsurance assets. Of this, 94 per cent (2017
 &#x2013;&#xA0;92 per cent) were ceded to reinsurers with Standard
 and Poor&#x2019;s ratings of&#xA0;<font style="WHITE-SPACE: nowrap">A-</font>&#xA0;or above. The
 Company&#x2019;s exposure to credit risk was mitigated by $24,435
 fair value of collateral held as security as at December&#xA0;31,
 2018 (2017 &#x2013; $13,855). Net exposure after considering
 offsetting agreements and the benefit of the fair value of
 collateral held was $18,618 as at December&#xA0;31, 2018 (2017
 &#x2013; $16,504).</p>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855891360">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfBorrowingsExplanatory', window );">Long-Term Debt</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#2A517F"><b>Note 10&#xA0;&#xA0;&#xA0;&#xA0;Long-Term
 Debt</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 <font color="#1F320C"><b>(a) Carrying value of long-term debt
 instruments</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="46%"></td>
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 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
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 <td valign="bottom" width="1%"></td>
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 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 Issue date</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 Maturity date</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Par value</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">2017</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 4.70% Senior notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1),(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">June&#xA0;23, 2016</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">June&#xA0;23, 2046</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">US$&#xA0;&#xA0;1,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,355</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5.375% Senior notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2),(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">March&#xA0;4,&#xA0;2016</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">March&#xA0;4,&#xA0;2046</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 US$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;750</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,010</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">928</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.527% Senior notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2),(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">December&#xA0;2,&#xA0;2016</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">December&#xA0;2,&#xA0;2026</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 US$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;270</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>367</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">338</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 4.150% Senior notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2),(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">March&#xA0;4, 2016</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">March&#xA0;4, 2026</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">US$&#xA0;&#xA0;1,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,356</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 4.90% Senior notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2),(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">September&#xA0;17,&#xA0;2010</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">September&#xA0;17,&#xA0;2020</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 US$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;500</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>681</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">626</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5.505% Medium-term notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 June&#xA0;26, 2008</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 June&#xA0;26, 2018</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;400</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">400</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;4,769</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;4,784</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MFC may redeem the notes in whole, but not in part, on
 June&#xA0;23, 2021 and thereafter on every June&#xA0;23, at a
 redemption price equal to par, together with accrued and unpaid
 interest.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MFC may redeem the senior notes in whole or in part,
 at any time, at a redemption price equal to the greater of par and
 a price based on the yield of a corresponding U.S. Treasury bond
 plus a specified number of basis points. The specified number of
 basis points is as follows: 5.375% &#x2013; 40 bps, 3.527% &#x2013;
 20 bps, 4.150% &#x2013; 35 bps, and 4.90% &#x2013; 35 bps.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These U.S. dollar senior notes have been designated as
 hedges of the Company&#x2019;s net investment in its U.S. operations
 which reduces the earnings volatility that would otherwise arise
 from the <font style="WHITE-SPACE: nowrap">re-measurement</font> of
 these senior notes into Canadian dollars.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On June&#xA0;26, 2018, the 5.505% Medium term notes
 matured.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The cash amount of interest paid on long-term debt during the year
 ended December&#xA0;31, 2018 was $222 (2017 &#x2013; $324). Issue
 costs are amortized over the term of the debt.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(b) Fair value measurement</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Fair value of a long-term debt instrument is determined using
 quoted market prices where available (Level 1). When quoted market
 prices are not available, fair value is determined with reference
 to quoted prices of a debt instrument with similar characteristics
 or estimated using discounted cash flows using observable market
 rates (Level 2).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Long-term debt is measured at amortized cost in the Consolidated
 Statements of Financial Position. As at December&#xA0;31, 2018, the
 fair value of long-term debt was $4,886 (2017 &#x2013; $5,186).
 Long-term debt was categorized in Level&#xA0;2 of the fair value
 hierarchy (2017&#xA0;&#x2013;&#xA0;Level&#xA0;2).</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>(c) Aggregate maturities of long-term
 debt</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="88%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Less than one year</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">400</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 One to two years</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>681</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Two to three years</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">626</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Greater than five years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,088</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">3,758</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;4,769</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;4,784</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 </div><span></span>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855870128">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Capital Instruments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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 Instruments</b></font></p>
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 &#xA0;</p>
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 <td></td>
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 <td height="5"></td>
 <td height="5" colspan="2"></td>
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 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
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 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Issuance date</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Earliest&#xA0;par&#xA0;redemption<br />
 date</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Maturity date</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
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 &#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Par value</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 7.535% MFCT II Senior debenture notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">July&#xA0;10, 2009</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">December&#xA0;31,&#xA0;2019</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">December&#xA0;31,&#xA0;2108</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,000</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 JHFC Subordinated notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">n/a</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">December&#xA0;15, 2036</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;650</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>647</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">647</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 4.061% MFC Subordinated notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;24, 2017</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;24,&#xA0;2027</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;24, 2032</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 US$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;750</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,017</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">935</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.00% MFC Subordinated notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;21,&#xA0;2017</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;21,&#xA0;2024</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;21,&#xA0;2029</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 S$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;500</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>498</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">467</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.049% MFC Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">August&#xA0;18, 2017</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">August&#xA0;20, 2024</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">August&#xA0;20, 2029</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;750</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>747</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">746</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.317% MFC Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;9, 2018</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;9, 2023</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;9, 2028</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;600</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>597</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.181% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;20, 2015</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;22, 2022</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;22, 2027</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;1,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>997</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">996</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.85% MFC Subordinated notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;25, 2016</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;25, 2021</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;25, 2026</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 S$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;500</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>499</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">467</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.389% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">June&#xA0;1, 2015</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">January&#xA0;5, 2021</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">January&#xA0;5, 2026</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;350</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>349</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">349</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.10% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">March&#xA0;10, 2015</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">June&#xA0;1, 2020</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">June&#xA0;1, 2025</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;750</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>749</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">748</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.64% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">December&#xA0;1, 2014</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">January&#xA0;15, 2020</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">January&#xA0;15, 2025</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;500</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">499</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.811% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;21, 2014</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;21, 2019</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;21, 2024</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;500</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">499</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 7.375% JHUSA Surplus notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(7)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;25, 1994</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">n/a</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;15, 2024</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 US$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;450</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>632</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">584</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.926% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(8)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;29, 2013</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;29, 2018</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;29, 2023</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;250</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">250</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.819% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(8)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 February&#xA0;25, 2013</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 February&#xA0;26, 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 February&#xA0;26, 2023</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;200</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">200</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>&#xA0;&#xA0;8,732</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">&#xA0;&#xA0;8,387</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Issued by MLI to Manulife Financial Capital Trust II
 (MFCT II), a wholly owned unconsolidated related party to the
 Company. On the earliest par redemption date and on every fifth
 anniversary thereafter (each, a &#x201C;Interest Reset Date&#x201D;),
 the rate of interest will reset to equal the yield
 on&#xA0;<font style="WHITE-SPACE: nowrap">5-year</font>&#xA0;Government of
 Canada bonds plus 5.2%. With regulatory approval, MLI may redeem
 the debentures, in whole or in part, on the earliest par redemption
 date and on any Interest Reset Date, at a redemption price equal to
 par, together with accrued and unpaid interest. The redemption
 price for the debentures redeemed on any day that is not an
 Interest Reset Date will be equal to the greater of par or the fair
 value of the debt based on the yield on uncallable Government of
 Canada bonds to the next Interest Reset Date plus (a) 1.0325% if
 the redemption date is on or after December&#xA0;31, 2014, but
 prior to December&#xA0;31, 2019, or (b) 2.065% if the redemption
 date is after December&#xA0;31, 2019, together with accrued and
 unpaid interest. Refer to note 17.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Issued by Manulife Holdings (Delaware) LLC
 (&#x201C;MHDLL&#x201D;), now John Hancock Financial Corporation
 (&#x201C;JHFC&#x201D;), a wholly owned subsidiary of MFC, to Manulife
 Finance (Delaware) LLC (&#x201C;MFLLC&#x201D;), a subsidiary of
 Manulife Finance (Delaware) L.P. (&#x201C;MFLP&#x201D;). MFLP and its
 subsidiaries are wholly owned unconsolidated related parties to the
 Company. The note bears interest at a floating rate equal to
 the&#xA0;<font style="WHITE-SPACE: nowrap">90-day</font>&#xA0;Bankers&#x2019;
 Acceptance rate plus 0.72%. With regulatory approval, JHFC may
 redeem the note, in whole or in part, at any time, at par, together
 with accrued and unpaid interest. Refer to note 17.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On the earliest par redemption date, the interest rate
 will reset to equal the&#xA0;<font style="WHITE-SPACE: nowrap">5-Year</font>&#xA0;US&#xA0;Dollar&#xA0;<font style="WHITE-SPACE: nowrap">Mid-Swap</font>&#xA0;Rate
 plus 1.647%. With regulatory approval, MFC may redeem the
 debentures, in whole, but not in part, on the earliest par
 redemption date, at a redemption price equal to par, together with
 accrued and unpaid interest.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On the earliest par redemption date, the interest rate
 will reset to equal the&#xA0;<font style="WHITE-SPACE: nowrap">5-year</font>&#xA0;Singapore
 Dollar Swap Rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.00% &#x2013; 83.2
 bps, 3.85% &#x2013; 197 bps. With regulatory approval, MFC may
 redeem the debentures, in whole, but not in part, on the earliest
 par redemption date and thereafter on each interest payment date,
 at a redemption price equal to par, together with accrued and
 unpaid interest.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Interest is fixed for the period up to the earliest
 par redemption date, thereafter, the interest rate will reset to a
 floating rate equal to the&#xA0;<font style="WHITE-SPACE: nowrap">90-day</font>&#xA0;Bankers&#x2019;
 Acceptance rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.049% &#x2013; 105
 bps, 3.317% &#x2013; 78 bps. With regulatory approval, MFC may
 redeem the debentures, in whole or in part, on or after the
 earliest par redemption date, at a redemption price equal to par,
 together with accrued and unpaid interest.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Interest is fixed for the period up to the earliest
 par redemption date, thereafter the interest rate will reset to a
 floating rate equal to the&#xA0;<font style="WHITE-SPACE: nowrap">90-day</font>&#xA0;Bankers&#x2019;
 Acceptance rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.181% &#x2013; 157
 bps, 2.389% &#x2013; 83 bps, 2.10% &#x2013; 72 bps, 2.64% &#x2013; 73
 bps, 2.811% &#x2013; 80 bps. With regulatory approval, MLI may
 redeem the debentures, in whole or in part, on or after the
 earliest par redemption date, at a redemption price equal to par,
 together with accrued and unpaid interest.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(7)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Issued by John Hancock Mutual Life Insurance Company,
 now John Hancock Life Insurance Company (U.S.A.). Any payment of
 interest or principal on the surplus notes requires prior approval
 from the Department of Insurance and Financial Services of the
 State of Michigan. The carrying value of the surplus notes reflects
 an unamortized fair value increment of US$20 (2017 &#x2013; US$23),
 which arose as a result of the acquisition of John Hancock
 Financial Services, Inc. The amortization of the fair value
 adjustment is recorded in interest expense.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(8)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MLI redeemed in full the 2.926% and 2.819%
 subordinated debentures at par, on November&#xA0;29, 2018 and
 February&#xA0;26, 2018, respectively, the earliest par redemption
 dates.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Fair value measurement</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Fair value of capital instruments is determined using quoted market
 prices where available (Level 1). When quoted market prices are not
 available fair value is determined with reference to quoted prices
 of debt instruments with similar characteristics or estimated using
 discounted cash flows using observable market rates (Level 2).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Capital instruments are measured at amortized cost in the
 Consolidated Statements of Financial Position. As at
 December&#xA0;31, 2018, the fair value of capital instruments was
 $8,712 (2017 &#x2013; $8,636). Capital instruments were categorized
 in Level&#xA0;2 of the fair value hierarchy (2017 &#x2013;
 Level&#xA0;2).</p>
 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Section Scope<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=sect_Scope&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834655024">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Capital and Earnings Per Share<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfIssuedCapitalAndEarningsPerShareExplanatory', window );">Share Capital and Earnings Per Share</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 12&#xA0;&#xA0;&#xA0;&#xA0;Share
 Capital and Earnings Per Share</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The authorized capital of MFC consists of:</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">an unlimited number of common shares without nominal
 or par value; and</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">an unlimited number of Class&#xA0;A, Class&#xA0;B and
 Class&#xA0;1 preferred shares without nominal or par value,
 issuable in series.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Preferred shares</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The changes in issued and outstanding preferred shares are as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="88%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="4"></td>
 <td bgcolor="#DDE0DA" height="4" colspan="8"></td>
 <td height="4" colspan="4"></td>
 <td height="4" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Number&#xA0;of<br />
 shares</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Amount</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Number&#xA0;of<br />
 shares</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Amount</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>146</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,577</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">146</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;3,577</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issued, Class&#xA0;1 shares, Series 25<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issuance costs, net of tax</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(5</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>156</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>3,822</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>&#xA0;</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">146</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">3,577</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On February&#xA0;20, 2018, MFC issued 10&#xA0;million
 of&#xA0;<font style="WHITE-SPACE: nowrap">Non-Cumulative</font>&#xA0;Rate
 Reset Class&#xA0;1 Shares Series 25 at a price of $25 per share for
 gross proceeds of $250.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Additional information for the outstanding preferred shares as at
 December&#xA0;31, 2018</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="38%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Issue date</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Annual<br />
 dividend<br />
 rate<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Earliest&#xA0;redemption<br />
 date<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Number of<br />
 shares</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Face<br />
 amount</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net<br />
 amount<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top" colspan="4">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;A preferred shares</p>
 </td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; TEXT-INDENT: 0em">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 2</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">February&#xA0;18,&#xA0;2005</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.65%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">350</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>344</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 3</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">January&#xA0;3, 2006</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.50%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">300</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>294</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top" colspan="4">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 preferred shares</p>
 </td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; TEXT-INDENT: 0em">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 3<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">March&#xA0;11, 2011</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2.178%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">June&#xA0;19, 2021</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">158</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>155</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 4</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">June&#xA0;20, 2016</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">floating</td>
 <td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup>&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">42</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>41</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 5<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">December&#xA0;6,&#xA0;2011</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.891%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">December&#xA0;19,&#xA0;2021</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">200</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>195</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 7<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">February&#xA0;22, 2012</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.312%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">March&#xA0;19, 2022</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">250</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>244</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 9<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">May&#xA0;24, 2012</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.351%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">September&#xA0;19,&#xA0;2022</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">250</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>244</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 11<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5),(7)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">December&#xA0;4, 2012</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.731%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">March&#xA0;19, 2023</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">200</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>196</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 13<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5),(8)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">June&#xA0;21, 2013</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.414%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">September&#xA0;19, 2023</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">200</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>196</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 15<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">February&#xA0;25, 2014</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.90%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">June&#xA0;19, 2019</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">200</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>195</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 17<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">August&#xA0;15, 2014</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.90%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">December&#xA0;19, 2019</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">350</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>343</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 19<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">December&#xA0;3, 2014</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.80%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">March&#xA0;19, 2020</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">250</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>246</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 21<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">February&#xA0;25, 2016</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5.60%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">June&#xA0;19, 2021</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">425</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>417</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 23<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">November&#xA0;22,&#xA0;2016</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.85%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">March&#xA0;19, 2022</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">475</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>467</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 25<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">February&#xA0;20, 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4.70%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">June&#xA0;19, 2023</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">10</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">250</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>245</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">156</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">&#xA0;&#xA0;3,900</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>&#xA0;&#xA0;3,822</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Holders of Class&#xA0;A and Class&#xA0;1 preferred
 shares are entitled to receive&#xA0;<font style="WHITE-SPACE: nowrap">non-cumulative</font>&#xA0;preferential
 cash dividends on a quarterly basis, as and when declared by the
 Board of Directors.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Redemption of all preferred shares is subject to
 regulatory approval. MFC may redeem each series, in whole or in
 part, at par, on the earliest redemption date or every five years
 thereafter, with the exception of Class&#xA0;A Series 2,
 Class&#xA0;A Series 3 and Class&#xA0;1 Series 4 preferred shares.
 Class&#xA0;A Series 2 and Series 3 preferred shares are past their
 respective earliest redemption date and MFC may redeem these
 shares, in whole or in part, at par at any time, subject to
 regulatory approval, as noted. MFC may redeem the Class&#xA0;1
 Series 4, in whole or in part, at any time, at $25.00 per share if
 redeemed on June&#xA0;19, 2021 and on June&#xA0;19 every five years
 thereafter, or at $25.50 per share if redeemed on any other date
 after June&#xA0;19, 2016, subject to regulatory approval, as
 noted.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Net of&#xA0;<font style="WHITE-SPACE: nowrap">after-tax</font>&#xA0;issuance
 costs.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On the earliest redemption date and every five years
 thereafter, the annual dividend rate will be reset to the five-year
 Government of Canada bond yield plus a yield specified for each
 series. The specified yield for Class&#xA0;1 shares is: Series 3
 &#x2013; 1.41%, Series 5 &#x2013; 2.90%, Series 7 &#x2013; 3.13%,
 Series 9 &#x2013; 2.86%, Series 11 &#x2013; 2.61%,
 Series&#xA0;13&#xA0;&#x2013;&#xA0;2.22%, Series 15 &#x2013; 2.16%,
 Series 17 &#x2013; 2.36%, Series 19 &#x2013; 2.30%, Series 21 &#x2013;
 4.97%, Series 23 &#x2013; 3.83% and Series 25 &#x2013; 2.55%.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On the earliest redemption date and every five years
 thereafter, Class&#xA0;1 preferred shares are convertible at the
 option of the holder into a new series that is one number higher
 than their existing series, and the holders are entitled
 to&#xA0;<font style="WHITE-SPACE: nowrap">non-cumulative</font>&#xA0;preferential
 cash dividends, payable quarterly if and when declared by the Board
 of Directors, at a rate equal to the three month Government of
 Canada Treasury bill yield plus the rate specified in footnote 4
 above.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The floating dividend rate for the Class&#xA0;1 Shares
 Series 4 equals the three-month Government of Canada Treasury bill
 yield plus 1.41%.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(7)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MFC did not exercise its right to redeem all or any of
 the outstanding Class&#xA0;1 Shares Series 11 on March&#xA0;19,
 2018 (the earliest redemption date). Dividend rate for Class&#xA0;1
 Shares Series 11 was reset as specified in footnote 4 above to an
 annual fixed rate of 4.731% for a five-year period commencing on
 March&#xA0;20, 2018.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(8)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MFC did not exercise its right to redeem all or any of
 the outstanding Class&#xA0;1 Shares Series 13 on September&#xA0;19,
 2018 (the earliest redemption date). Dividend rate for Class&#xA0;1
 Shares Series 13 was reset as specified in footnote 4 above to an
 annual fixed rate of 4.414% for a five-year period commencing on
 September&#xA0;20, 2018.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Common shares</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The changes in common shares issued and outstanding are as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="64%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="4"></td>
 <td bgcolor="#DDE0DA" height="4" colspan="8"></td>
 <td height="4" colspan="4"></td>
 <td height="4" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Number&#xA0;of<br />
 shares</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Amount</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Number&#xA0;of<br />
 shares</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Amount</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,982</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>22,989</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,975</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">22,865</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Repurchased for cancellation</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(23</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(269</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issued under dividend reinvestment plan</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>182</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issued on exercise of stock options and deferred share units</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>59</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">7</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">124</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,971</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;22,961</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">1,982</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;22,989</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Normal Course Issuer Bid</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 On November&#xA0;12, 2018, the Company announced that the Toronto
 Stock Exchange approved a normal course issuer bid
 (&#x201C;NCIB&#x201D;) permitting the purchase for cancellation of up
 to 40&#xA0;million MFC common shares. Purchases under the NCIB
 commenced on November&#xA0;14, 2018 and may continue until
 November&#xA0;13, 2019, when the NCIB expires, or such earlier date
 as the Company completes its purchases. As at December 31, 2018,
 the Company had repurchased 23 million shares for $478. Of this,
 $269 was recorded in common shares and $209 was recorded in
 retained earnings in the Consolidated Statements of Changes in
 Equity.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Dividend Reinvestment Plan</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company offers a Dividend Reinvestment Program
 (&#x201C;DRIP&#x201D;) whereby shareholders may elect to
 automatically reinvest dividends in the form of MFC common shares
 instead of receiving cash. The offering of the program and its
 terms of execution are subject to the Board of Directors&#x2019;
 discretion. For the first three quarters of 2018, common shares in
 connection with DRIP were purchased on the open market with no
 applicable discount. For the dividend paid on December&#xA0;19,
 2018, the required common shares were purchased from treasury with
 a two per cent (2%) discount from the market price.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Earnings per share</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents basic and diluted earnings per common
 share of the Company.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Basic earnings per common share</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2.34</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">0.98</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Diluted earnings per common share</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2.33</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">0.98</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following is a reconciliation of the denominator (number of
 shares) in the calculation of basic and diluted earnings per
 share.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Weighted average number of common shares (in millions)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,983</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,978</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Dilutive stock-based awards<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup>&#xA0;(in
 millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">8</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Weighted average number of diluted common shares (in
 millions)</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,988</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">1,986</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 4pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The dilutive effect of stock-based awards was
 calculated using the treasury stock method. This method calculates
 the number of incremental shares by assuming the outstanding
 stock-based awards are (i)&#xA0;exercised and (ii)&#xA0;then
 reduced by the number of shares assumed to be repurchased from the
 issuance proceeds, using the average market price of MFC common
 shares for the year. Excluded from the calculation was a weighted
 average of 7&#xA0;million (2017 &#x2013; 2 million) anti-dilutive
 stock-based awards.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(d) Quarterly dividend declaration
 subsequent to year end</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 On February&#xA0;13, 2019, the Company&#x2019;s Board of Directors
 approved a quarterly dividend of $0.25 per share on the common
 shares of MFC, payable on or after March&#xA0;19, 2019 to
 shareholders of record at the close of business on
 February&#xA0;27, 2019.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Board also declared dividends on the
 following&#xA0;<font style="WHITE-SPACE: nowrap">non-cumulative</font>&#xA0;preferred
 shares, payable on or after March&#xA0;19, 2019 to shareholders of
 record at the close of business on February&#xA0;27, 2019.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="51%"></td>
 <td valign="bottom"></td>
 <td width="48%"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;A Shares Series 2 &#x2013; $0.29063 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 13 &#x2013; $0.275875
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;A Shares Series 3 &#x2013; $0.28125 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 15 &#x2013; $0.24375
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 3 &#x2013; $0.136125 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 17 &#x2013; $0.24375
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 4 &#x2013; $0.193315 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 19 &#x2013; $0.2375
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 5 &#x2013; $0.243188 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 21 &#x2013; $0.35 per
 share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 7 &#x2013; $0.2695 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 23 &#x2013; $0.303125
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 9 &#x2013; $0.271938 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 25 &#x2013; $0.29375
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 11 &#x2013; $0.295688 per share</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834712992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Capital Management<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIssuedCapitalExplanatory', window );">Capital Management</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note
 13&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Capital Management</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Capital management</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company monitors and manages its consolidated capital in
 compliance with the Life Insurance Capital Adequacy Test
 (&#x201C;LICAT&#x201D;) guideline, the new capital framework issued
 by the Office of the Superintendent of Financial Institutions
 (&#x201C;OSFI&#x201D;) that became effective on January&#xA0;1, 2018.
 Under this new capital framework, the Company&#x2019;s consolidated
 capital resources, including available capital, surplus allowance,
 and eligible deposits, are measured against the base solvency
 buffer, which is the risk-based capital requirement determined in
 accordance with the guideline.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s operating activities are mostly conducted
 within MLI and its subsidiaries.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 MLI is also regulated by OSFI and is therefore subject to
 consolidated risk-based capital requirements using the OSFI LICAT
 framework.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company seeks to manage its capital with the objectives of:</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Operating with sufficient capital to be able to honour
 all commitments to its policyholders and creditors with a high
 degree of confidence;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Retaining the ongoing confidence of regulators,
 policyholders, rating agencies, investors and other creditors in
 order to ensure access to capital markets; and</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Optimizing return on capital to meet
 shareholders&#x2019; expectations subject to constraints and
 considerations of adequate levels of capital established to meet
 the first two objectives.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Capital is managed and monitored in accordance with the Capital
 Management Policy. The policy is reviewed and approved by the Board
 of Directors annually and is integrated with the Company&#x2019;s
 risk and financial management frameworks. It establishes guidelines
 regarding the quantity and quality of capital, internal capital
 mobility, and proactive management of ongoing and future capital
 requirements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The capital management framework takes into account the
 requirements of the Company as a whole as well as the needs of each
 of the Company&#x2019;s subsidiaries. Internal capital targets are
 set above the regulatory requirements, and consider a number of
 factors, including expectations of regulators and rating agencies,
 results of sensitivity and stress testing and the Company&#x2019;s
 own risk assessments. The Company monitors against these internal
 targets and initiates actions appropriate to achieving its business
 objectives.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Consolidated capital, based on accounting standards, is presented
 in the table below for MFC. For regulatory reporting purposes,
 LICAT available capital is based on consolidated capital with
 adjustments for certain deductions, limits and restrictions, as
 mandated by the LICAT guideline.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Consolidated capital</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total equity</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;47,151</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;42,163</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Adjusted for AOCI loss on cash flow hedges</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(127</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(109</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total equity excluding AOCI on cash flow hedges</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>47,278</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">42,272</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Qualifying capital instruments</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>8,732</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">8,387</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Consolidated capital</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>56,010</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">50,659</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Restrictions on dividends and capital
 distributions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Dividends and capital distributions are restricted under the
 Insurance Company Act (&#x201C;ICA&#x201D;). These restrictions apply
 to both the Company and its primary operating subsidiary MLI. The
 ICA prohibits the declaration or payment of any dividend on shares
 of an insurance company if there are reasonable grounds for
 believing a company does not have adequate capital and adequate and
 appropriate forms of liquidity or the declaration or the payment of
 the dividend would cause the company to be in contravention of any
 regulation made under the ICA respecting the maintenance of
 adequate capital and adequate and appropriate forms of liquidity,
 or of any direction made to the company by OSFI. The ICA also
 requires an insurance company to notify OSFI of the declaration of
 a dividend at least 15 days prior to the date fixed for its
 payment. Similarly, the ICA prohibits the purchase for cancellation
 of any shares issued by an insurance company or the redemption of
 any redeemable shares or other similar capital transactions, if
 there are reasonable grounds for believing that the company does
 not have adequate capital and adequate and appropriate forms of
 liquidity or the payment would cause the company to be in
 contravention of any regulation made under the ICA respecting the
 maintenance of adequate capital and adequate and appropriate forms
 of liquidity, or any direction made to the company by OSFI. These
 latter transactions would require the prior approval of OSFI.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The ICA requires Canadian insurance companies to maintain adequate
 levels of capital at all times.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Since the Company is a holding company that conducts all of its
 operations through regulated insurance subsidiaries (or companies
 owned directly or indirectly by these subsidiaries), its ability to
 pay future dividends will depend on the receipt of sufficient funds
 from its regulated insurance subsidiaries. These subsidiaries are
 also subject to certain regulatory restrictions under laws in
 Canada, the United States and certain other countries that may
 limit their ability to pay dividends or make other upstream
 distributions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company and MLI have covenanted for the benefit of holders of
 the outstanding Trust II Notes &#x2013; Series I (the
 &#x201C;Notes&#x201D;) that, if interest is not paid in full in cash
 on the Notes on any interest payment date or if MLI elects that
 holders of Notes invest interest payable on the Notes on any
 interest payment date in a new series of Manufacturers Life
 Class&#xA0;1 Shares, MLI will not declare or pay cash dividends on
 any MLI Public Preferred Shares (as defined below), if any are
 outstanding, and if no MLI Public Preferred Shares are outstanding,
 MFC will not declare or pay cash dividends on its Preferred Shares
 and Common Shares, in each case, until the sixth month following
 such deferral date. &#x201C;MLI Public Preferred Shares&#x201D;
 means, at any time, preferred shares of MLI which at that time:
 (a)&#xA0;have been issued to the public (excluding any preferred
 shares of MLI held beneficially by affiliates of MLI); (b) are
 listed on a recognized stock exchange; and (c)&#xA0;have an
 aggregate liquidation entitlement of at least $200, however, if at
 any time, there is more than one class of MLI Public Preferred
 Shares outstanding, then the most senior class or classes of
 outstanding MLI Public Preferred Shares shall, for all purposes, be
 the MLI Public Preferred Shares.</p>


 </div><span></span>
</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of issued capital. [Refer: Issued capital]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834619648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue from Service Contracts<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory', window );">Revenue from Service Contracts</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note
 14&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Revenue from Service
 Contracts</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company provides investment management services, administrative
 services, distribution and related services to proprietary and
 third-party investment funds, retirement plans, group benefit plans
 and other arrangements. The Company also provides real estate
 management services to tenants of the Company&#x2019;s investment
 properties.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s service contracts generally impose single
 performance obligations, each consisting of a series of similar
 related services for each customer.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s performance obligations within service
 arrangements are generally satisfied over time as the customer
 simultaneously receives and consumes the benefits of the services
 rendered, measured using an output method. Fees typically include
 variable consideration and the related revenue is recognized to the
 extent that it is highly probable that a significant reversal in
 the amount of cumulative revenue recognized will not occur when the
 uncertainty is subsequently resolved.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Asset based fees vary with asset values of accounts under
 management, subject to market conditions and investor behaviors
 beyond the Company&#x2019;s control. Transaction processing and
 administrative fees vary with activity volume, also beyond the
 Company&#x2019;s control. Some fees, including distribution fees,
 are based on account balances and transaction volumes. Fees related
 to account balances and transaction volumes are measured daily.
 Real estate management service fees include fixed portions plus
 recovery of variable costs of services rendered to tenants. Fees
 related to services provided are generally recognized as services
 are rendered, which is when it becomes highly probable that no
 significant reversal of cumulative revenue recognized will occur.
 The Company has determined that its service contracts have no
 significant financing components as fees are collected monthly. The
 Company has no significant contract assets or contract
 liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following tables present revenue from service contracts by
 service lines and reporting segments as disclosed in note 19.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 14pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="54%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Global<br />
 WAM</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Corporate<br />
 and&#xA0;Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment management and other related fees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>328</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>149</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>521</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,805</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(236</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,567</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Transaction processing, administration, and service fees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>226</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>854</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>17</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,939</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,036</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Distribution fees and other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>255</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>49</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>617</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>724</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(30</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,615</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total included in other revenue</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>809</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,052</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,155</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,468</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(266</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,218</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate management services reported in net investment
 income</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>31</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>160</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>147</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>348</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>840</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,212</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,302</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,468</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(256</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>8,566</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2017</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Global<br />
 WAM</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Corporate<br />
 and&#xA0;Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment management and other related fees</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">351</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">137</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">569</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,397</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(232</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3,222</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Transaction processing, administration, and service fees</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">206</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">871</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,978</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,075</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Distribution fees and other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">269</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">64</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">626</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">785</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(42</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,702</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total included in other revenue</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">826</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,072</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,212</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,160</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(271</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,999</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate management services reported in net investment
 income</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">22</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">161</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">156</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">344</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;848</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,233</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,368</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;5,160</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(266</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;8,343</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for revenue from contracts with customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2018-01-01<br> -Section Presentation<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=15&amp;date=2018-03-01&amp;anchor=sect_Presentation&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=15&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834591664">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock-Based Compensation<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 15&#xA0;&#xA0;&#xA0;&#xA0;Stock-Based
 Compensation</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Stock options</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company grants stock options under its Executive Stock Option
 Plan (&#x201C;ESOP&#x201D;) to selected individuals. The options
 provide the holder the right to purchase MFC common shares at an
 exercise price equal to the higher of the prior day,
 prior&#xA0;<font style="WHITE-SPACE: nowrap">five-day</font>&#xA0;or
 prior&#xA0;<font style="WHITE-SPACE: nowrap">ten-day</font>&#xA0;average
 closing market price of the shares on the Toronto Stock Exchange on
 the date the options are granted. The options vest over a period
 not exceeding four years and expire not more than 10 years from the
 grant date. Effective with the 2015 grant, options may only be
 exercised after the fifth-year anniversary. A total of 73,600,000
 common shares have been reserved for issuance under the ESOP.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Options outstanding</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="58%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
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 <td height="4"></td>
 <td bgcolor="#DDE0DA" height="4" colspan="8"></td>
 <td height="4" colspan="4"></td>
 <td height="4" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Number&#xA0;of<br />
 options
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 )&#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br />
 <br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Weighted<br />
 average<br />
 exercise<br />
 price
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">Number&#xA0;of<br />
 options
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 )&#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;<br />
 <br />
 <br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">Weighted<br />
 average<br />
 exercise<br />
 price
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Outstanding, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>25</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;20.45</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">30</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;19.80</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Granted</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24.52</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">24.56</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Exercised</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17.77</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16.03</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Expired</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>37.35</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">39.47</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forfeited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21.24</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">20.86
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Outstanding, December&#xA0;31</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>23</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>20.29</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">25
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">20.45
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Exercisable, December&#xA0;31</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18.08</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">12
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">19.93
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 14pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="43%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Options outstanding</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Options exercisable</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Number&#xA0;of<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">options</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 )&#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br />
 <br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Weighted<br />
 average<br />
 exercise<br />
 price
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br />
 <br />
 <br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Weighted<br />
 average<br />
 remaining<br />
 contractual<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">life</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;years)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Number&#xA0;of<br />
 options
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 )&#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br />
 <br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Weighted<br />
 average<br />
 exercise<br />
 price
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br />
 <br />
 <br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Weighted<br />
 average<br />
 remaining<br />
 contractual<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">life</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;years)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 $12.64&#xA0;&#x2013;&#xA0;$20.99</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;17.27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4.00</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;17.06</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2.09</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 $21.00&#xA0;&#x2013;&#xA0;$24.83</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>23.26</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6.95</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21.27</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3.25</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>23</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>20.29</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5.49</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18.08</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2.37</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The weighted average fair value of each option granted in 2018 has
 been estimated at $4.97 (2017 &#x2013; $5.18) using the
 Black-Scholes option-pricing model. The pricing model uses the
 following assumptions for these options: risk-free interest rate of
 2.00% (2017&#xA0;&#x2013;&#xA0;1.25%), dividend yield of 3.25% (2017
 &#x2013; 3.00%), expected volatility of 28.0% (2017 &#x2013; 29.5%)
 and expected life of 6.3 (2017 &#x2013; 6.7) years. Expected
 volatility is estimated by evaluating a number of factors including
 historical volatility of the share price over multi-year
 periods.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Compensation expense related to stock options was $9 for the year
 ended December&#xA0;31, 2018 (2017 &#x2013; $16).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Deferred share units</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In 2000, the Company granted deferred share units
 (&#x201C;DSUs&#x201D;) to certain employees under the ESOP. These
 DSUs vest over a three-year period and each DSU entitles the holder
 to receive one common share on retirement or termination of
 employment. When dividends are paid on common shares, holders of
 DSUs are deemed to receive dividends at the same rate, payable in
 the form of additional DSUs. In 2018, nil DSUs were granted to
 employees under the ESOP (2017 &#x2013; nil). The number of DSUs
 outstanding was 337,000 as at December&#xA0;31, 2018 (2017 &#x2013;
 610,000).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In addition, for certain employees and pursuant to the
 Company&#x2019;s deferred compensation program, the Company grants
 DSUs under the RSU Plan which entitle the holder to receive payment
 in cash equal to the value of the same number of common shares plus
 credited dividends on retirement or termination of employment. In
 2018, the Company granted 55,000 DSUs to certain employees which
 vest after 34 months (2017 &#x2013; 23,000). In 2018, 8,000 DSUs
 (2017 &#x2013; nil) were granted to certain employees who elected to
 defer receipt of all or part of their annual bonus. These DSUs
 vested immediately. Also, in 2018, nil DSUs (2017 &#x2013; 43,000)
 were granted to certain employees to defer payment of all or part
 of their Restricted Share Units (&#x201C;RSUs&#x201D;) and/or
 Performance Share Units (&#x201C;PSUs&#x201D;). These DSUs also
 vested immediately.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Under the Stock Plan for&#xA0;<font style="WHITE-SPACE: nowrap">Non-Employee</font>&#xA0;Directors,
 each eligible director may elect to receive his or her annual
 director&#x2019;s retainer and fees in DSUs or common shares in lieu
 of cash. Upon termination of the Board service, an eligible
 director who has elected to receive DSUs will be entitled to
 receive cash equal to the value of the DSUs accumulated in his or
 her account, or at his or her direction, an equivalent number of
 common shares. A total of one million common shares have been
 reserved for issuance under this plan.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The fair value of 141,000 DSUs issued during the year was $19.37
 per unit, as at December&#xA0;31, 2018 (2017 &#x2013; 156,000 at
 $26.22 per unit).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Number of DSUs (in thousands)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Outstanding, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,645</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,682</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issued</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>141</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">156</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reinvested</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>98</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">88</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redeemed</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(346</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(279</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forfeitures and cancellations</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(2
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Outstanding, December&#xA0;31</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,538</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">2,645
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Of the DSUs outstanding as at December&#xA0;31, 2018, 337,000 (2017
 &#x2013; 610,000) entitle the holder to receive common shares,
 1,151,000 (2017 &#x2013; 1,103,000) entitle the holder to receive
 payment in cash and 1,050,000 (2017 &#x2013; 932,000) entitle the
 holder to receive payment in cash or common shares, at the option
 of the holder.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Compensation expense related to DSUs was $6 for the year ended
 December&#xA0;31, 2018 (2017 &#x2013; $13).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The carrying and fair value of the DSUs liability as at
 December&#xA0;31, 2018 was $43 (2017 &#x2013; $53) and was included
 in other liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Restricted share units and performance
 share units</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 For the year ended December&#xA0;31, 2018, 5.5&#xA0;million RSUs
 (2017 &#x2013; 5.6 million) and 0.8&#xA0;million PSUs (2017 &#x2013;
 1.0 million) were granted to certain eligible employees under
 MFC&#x2019;s Restricted Share Unit Plan. The fair value of the RSUs
 and PSUs granted during the year was $19.37 per unit as at
 December&#xA0;31, 2018 (2017 &#x2013; $26.22 per unit). Each RSU and
 PSU entitles the holder to receive payment equal to the market
 value of one common share, plus credited dividends, at the time of
 vesting, subject to any performance conditions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 RSUs granted in February 2018 will vest after 34 months and PSUs
 granted in February 2018 will vest after 36 months from their grant
 date and the related compensation expense is recognized over these
 periods, except where the employee is eligible to retire prior to a
 vesting date, in which case the cost is recognized over the period
 between the grant date and the date on which the employee is
 eligible to retire. Compensation expense related to RSUs and PSUs
 was $111 and $14, respectively, for the year ended
 December&#xA0;31, 2018 (2017 &#x2013; $125 and $21,
 respectively).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The carrying and fair value of the RSUs and PSUs liability as at
 December&#xA0;31, 2018 was $128 (2017 &#x2013; $228) and was
 included in other liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(d) Global share ownership
 plan</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s Global Share Ownership Plan allows qualifying
 employees to apply up to five per cent of their annual base
 earnings toward the purchase of common shares. The Company matches
 a percentage of the employee&#x2019;s eligible contributions up to a
 maximum amount. The Company&#x2019;s contributions vest immediately.
 All contributions are used to purchase common shares in the open
 market.</p>


 </div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2018-01-01<br> -Paragraph 44<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2018-03-01&amp;anchor=para_44&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834662848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Employee Future Benefits<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEmployeeBenefitsExplanatory', window );">Employee Future Benefits</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 16&#xA0;&#xA0;&#xA0;&#xA0; Employee
 Future Benefits</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company maintains defined contribution and defined benefit
 pension plans and other post-employment plans for employees and
 agents including registered (tax qualified) pension plans that are
 typically funded, as well as
 supplemental&#xA0;<font style="WHITE-SPACE: nowrap">non-registered</font>&#xA0;<font style="WHITE-SPACE: nowrap">(non-qualified)</font>&#xA0;pension
 plans for executives, retiree welfare plans and disability welfare
 plans that are typically not funded.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Plan characteristics</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 To reduce the financial risk associated with final average pay
 defined benefit pension plans and retiree welfare plans, the
 Company has over time closed all these plans to new members and, in
 the case of pension plans, has replaced them with capital
 accumulation plans. The latter include defined benefit cash balance
 plans, 401(k) plans and/or defined contribution plans, depending on
 the country of employment. The result is that final average pay
 pension plans account for less than 50&#xA0;per cent of the
 Company&#x2019;s global pension obligations and the number of
 employees who accrue these pensions declines each year.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 During the year, the Company implemented a voluntary exit program,
 as part of its Canadian operations transformation, and a North
 American voluntary early retirement program. Combined, these two
 programs will result in the voluntary separation of 1,270 employees
 in Canada and 229 employees in the U.S. by the end of 2019. A
 curtailment loss of $22 resulting from these programs was recorded
 in earnings during the 4<sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">th</sup>&#xA0;quarter
 of 2018. This loss represents the increase in net defined benefit
 liability due to the affected employees separating sooner than had
 previously been assumed.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 All pension arrangements are governed by local pension committees
 or management, but significant plan changes require approval from
 the Company&#x2019;s Board of Directors.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s funding policy for defined benefit pension
 plans is to make the minimum annual contributions required by
 regulations in the countries in which the plans are offered.
 Assumptions and methods prescribed for regulatory funding purposes
 typically differ from those used for accounting purposes.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s remaining defined benefit pension and/or
 retiree welfare plans are in the U.S., Canada, Japan, and Taiwan
 (China). There are also disability welfare plans in the U.S. and
 Canada.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The largest defined benefit pension and retiree welfare plans are
 the primary plans for employees in the U.S. and Canada. These are
 the material plans that are discussed in the balance of this note.
 The Company measures its defined benefit obligations and fair value
 of plan assets for accounting purposes as at December&#xA0;31 each
 year.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>U.S. defined benefit pension and retiree
 welfare plans</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company operates a qualified cash balance plan that is open to
 new members, a closed&#xA0;<font style="WHITE-SPACE: nowrap">non-qualified</font>&#xA0;cash
 balance plan, and a closed retiree welfare plan.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Actuarial valuations to determine the Company&#x2019;s minimum
 funding contributions for the qualified cash balance plan are
 required annually. Deficits revealed in the funding valuations must
 generally be funded over a period of up to seven years. It is
 expected that there will be no required funding for this plan in
 2019. There are no plan assets set aside for
 the&#xA0;<font style="WHITE-SPACE: nowrap">non-qualified</font>&#xA0;cash
 balance plan.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The retiree welfare plan subsidizes the cost of life insurance and
 medical benefits. The majority of those who retired after 1991
 receive a fixed-dollar subsidy from the Company based on service.
 The plan was closed to all employees hired after 2004. While assets
 have been set aside in a qualified trust to pay future retiree
 welfare benefits, this funding is optional. Retiree welfare
 benefits offered under the plan coordinate with the U.S. Medicare
 program to make optimal use of available federal financial
 support.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The qualified pension and retiree welfare plans are governed by the
 U.S. Benefits Committee, while the&#xA0;<font style="WHITE-SPACE: nowrap">non-qualified</font>&#xA0;pension
 plan is governed by the U.S.&#xA0;<font style="WHITE-SPACE: nowrap">Non-Qualified</font>&#xA0;Plans
 Subcommittee.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Canadian defined benefit pension and
 retiree welfare plans</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s defined benefit plans in Canada include two
 registered final average pay pension plans,
 a&#xA0;<font style="WHITE-SPACE: nowrap">non-registered</font>&#xA0;supplemental
 final average pay pension plan and a retiree welfare plan, all of
 which have been closed to new members.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Actuarial valuations to determine the Company&#x2019;s minimum
 funding contributions for the registered pension plans are required
 at least once every three years. Deficits revealed in the funding
 valuation must generally be funded over a period of ten years. For
 2019, the required funding for these plans is expected to be $12.
 The supplemental&#xA0;<font style="WHITE-SPACE: nowrap">non-registered</font>&#xA0;pension
 plan is not funded.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The retiree welfare plan subsidizes the cost of life insurance,
 medical and dental benefits. These subsidies are a fixed dollar
 amount for those who retired after April&#xA0;30, 2013 and will be
 eliminated for those who retire after 2019. There are no assets set
 aside for this plan.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The registered pension plans are governed by Pension Committees,
 while the supplemental&#xA0;<font style="WHITE-SPACE: nowrap">non-registered</font>&#xA0;plan
 is governed by the Board of Directors. The retiree welfare plan is
 governed by management.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Risks</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In final average pay pension plans and retiree welfare plans, the
 Company generally bears the material risks which include interest
 rate, investment, longevity and health care cost inflation risks.
 In defined contribution plans, these risks are typically borne by
 the employee. In cash balance plans, the interest rate, investment
 and longevity risks are partially transferred to the employee.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Material sources of risk to the Company for all plans include:</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">A decline in discount rates that increases the defined
 benefit obligations by more than the change in value of plan
 assets;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Lower than expected rates of mortality; and</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">For retiree welfare plans, higher than expected health
 care costs.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company has managed these risks through plan design and
 eligibility changes that have limited the size and growth of the
 defined benefit obligations. Investment risks for funded plans are
 managed through strategies aimed at improving the alignment between
 movements in the invested assets and movements in the
 obligations.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In the U.S., delegated committee representatives and management
 review the financial status of the qualified defined benefit
 pension plan at least monthly, and steps are taken in accordance
 with an established dynamic investment policy to reduce the risk in
 the plan as the funded status improves. As at December&#xA0;31,
 2018, the target asset allocation for the plan was 27%
 return-seeking assets and 73% liability-hedging assets.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In Canada, internal committees and management review the financial
 status of the registered defined benefit pension plans on at least
 a quarterly basis. As at December&#xA0;31, 2018, the target asset
 allocation for the plans was 20% return-seeking assets and 80%
 liability-hedging assets.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Pension and retiree welfare
 plans</b></font></p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="77%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Changes in defined benefit obligation:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Opening balance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,706</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,767</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>665</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">682</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Current service cost</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>42</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">48</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Past service cost &#x2013; amendments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Past service cost &#x2013; curtailments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest cost</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>165</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">182</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>24</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">26</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Plan participants&#x2019; contributions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Actuarial losses (gains) due to:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Experience</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(9</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Demographic assumption changes</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>35</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Economic assumption changes</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">214</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">41</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Benefits paid</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(304</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(315</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(45</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(45</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>262</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(206</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>44</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(35</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Defined benefit obligation, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;4,675</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;4,706</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;640</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;665</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="77%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Change in plan assets:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fair value of plan assets, opening balance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;4,328</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;4,277</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;587</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;603</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>153</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">164</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">23</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return on plan assets (excluding interest income)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(315</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">312</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(16</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">30</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Employer contributions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>79</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">85</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Plan participants&#x2019; contributions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Benefits paid</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(304</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(315</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(45</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(45</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Administration costs</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(5</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>254</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(191</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>51</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(38</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Fair value of plan assets, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;4,190</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;4,328</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;610</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;587</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(d) Amounts recognized in the Consolidated
 Statements of Financial Position</b></font></p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="77%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Development of net defined benefit liability</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined benefit obligation</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;4,675</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;4,706</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;640</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;665</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fair value of plan assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,190</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,328</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>610</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">587</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Deficit</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>485</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">378</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>30</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">78</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Effect of asset limit<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Deficit and net defined benefit liability</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>494</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">378</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>30</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">78</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Deficit is comprised of:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Funded or partially funded plans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(248</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(383</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(121</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(72</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Unfunded plans</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>742</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">761</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>151</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">150</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Deficit and net defined benefit liability</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>494</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">378</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>30</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">78</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2018, the Company recognized an impairment of $9 on
 the net defined benefit asset for one of its registered pension
 plans in Canada. This was due to the conversion of most plan
 benefits for future service from defined benefit to defined
 contribution which reduced the economic benefit that can be derived
 by the Company from the plan&#x2019;s surplus. For the other funded
 pension plans, the present value of the economic benefits available
 in the form of reductions in future contributions to the plans
 remains greater than the surplus that is expected to develop.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(e) Disaggregation of defined benefit
 obligation</b></font></p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="37%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"><b>U.S. plans</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"><b>Canadian plans</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Active members</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>621</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">592</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>32</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">34</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>332</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">393</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>22</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">20</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Inactive and retired members</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,431</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,434</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>457</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">481</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,291</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,287</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>129</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">130</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,052</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;3,026</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;489</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;515</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,623</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,680</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;151</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;150</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(f) Fair value measurements</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The major categories of plan assets and the actual per cent
 allocation to each category are as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="38%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="16"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="16"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" nowrap="nowrap" align="center"><b>U.S. plans<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" nowrap="nowrap" align="center"><b>Canadian plans<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center">Pension plans</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center">Retiree welfare plans</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and cash equivalents</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>26</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>51</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>19</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>17%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>38</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>269</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>20%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,088</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>73%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>514</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>85%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,033</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>79%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other investments<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>252</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>0%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;2,866</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>100%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;610</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>100%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,324</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>100%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="38%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="13"></td>
 <td height="13" colspan="16"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="16"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"><b>U.S. plans<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"><b>Canadian plans<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center">Retiree welfare
 plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and cash equivalents</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">33</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">33</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">695</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">24%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">45</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">212</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,979</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">67%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">502</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">85%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,165</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">84%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other investments<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">235</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">8%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">7</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">0%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;2,942</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">100%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;587</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">100%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,386</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">100%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">All the U.S. pension and retiree welfare plan assets
 have daily quoted prices in active markets, except for the private
 equity, timber and agriculture assets. In the aggregate, the latter
 assets represent approximately 7% of all U.S. pension and retiree
 welfare plan assets as at December&#xA0;31, 2018 (2017 &#x2013;
 6%).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">All the Canadian pension plan assets have daily quoted
 prices in active markets, except for the group annuity contract
 assets that represent approximately 0.2% of all Canadian pension
 plan assets as at December&#xA0;31, 2018 (2017 &#x2013; 0.3%).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Equity securities include direct investments in MFC
 common shares of $0.9 (2017 &#x2013; $1.3) in the U.S. retiree
 welfare plan and $nil (2017 &#x2013; $nil) in Canada.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other U.S. plan assets include investment in private
 equity, timberland and agriculture, and managed futures. Other
 Canadian pension plan assets include investment in the group
 annuity contract.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(g) Net benefit cost recognized in the
 Consolidated Statements of Income</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Components of the net benefit cost for the pension plans and
 retiree welfare plans were as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="62%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center">Retiree welfare
 plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined benefit current service cost</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>42</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">48</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined benefit administrative expenses</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Past service cost &#x2013; plan amendments<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Past service cost &#x2013; curtailments<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Service cost</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>66</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">53</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest on net defined benefit (asset) liability</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">18</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined benefit cost</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>78</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">71</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>17</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined contribution cost</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>78</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">75</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net benefit cost</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;156</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;146</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;17</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;6</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Past service cost &#x2013; plan amendments includes $8,
 reflecting a surplus sharing agreement between the Company and
 certain legacy employees in Canada, which received regulatory
 approval in 2018.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Past service cost &#x2013; curtailments includes $22 in
 total, reflecting the cost of the voluntary exit and voluntary
 retirement programs described in section (a)&#xA0;of this note.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(h)&#xA0;<font style="WHITE-SPACE: nowrap">Re-measurement</font>&#xA0;effects
 recognized in Other Comprehensive Income</b></font></p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="68%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Pension plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2" nowrap="nowrap" align="center">
 &#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Retiree welfare plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Actuarial gains (losses) on defined benefit obligations due to:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Experience</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(15</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</td>
 <td valign="bottom" align="right">9</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Demographic assumption changes</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(35</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
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 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Economic assumption changes</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(214</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(41</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return on plan assets (excluding interest income)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(315</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;312</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(16</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;30</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Change in effect of asset limit</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total&#xA0;<font style="WHITE-SPACE: nowrap">re-measurement</font>&#xA0;effects</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;(109</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">83</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;48</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(i) Assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The key assumptions used by the Company to determine the defined
 benefit obligation and net benefit cost for the defined benefit
 pension plans and retiree welfare plans were as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="40%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>U.S. Plans</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>Canadian Plans</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Pension plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Retiree welfare plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Pension plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Retiree welfare plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>To determine the defined benefit obligation at end of
 year<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup>:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Discount rate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4.3%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.6%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4.3%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.6%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.8%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.5%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.8%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.6%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Initial health care cost trend rate<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7.8%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8.5%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5.7%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5.9%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>To determine the defined benefit cost for the year<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup>:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Discount rate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.6%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.1%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.6%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.1%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.5%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.9%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.6%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.0%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Initial health care cost trend rate<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">n/a
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>8.5%</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">8.8%
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">n/a
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5.9%</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">6.0%
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Inflation and salary increase assumptions are not
 shown as they do not materially affect obligations and cost.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The health care cost trend rate used to measure the
 U.S. based retiree welfare obligation was 7.8% grading to 5.0% for
 2030 and years thereafter (2017 &#x2013; 8.5% grading to 5.0% for
 2032) and to measure the net benefit cost was 8.5% grading to 5.0%
 for 2032 and years thereafter (2017 &#x2013; 8.8% grading to 5.0%
 for 2032). In Canada, the rate used to measure the retiree welfare
 obligation was 5.7% grading to 4.8% for 2026 and years thereafter
 (2017 &#x2013; 5.9% grading to 4.8% for 2026) and to measure the net
 benefit cost was 5.9% grading to 4.8% for 2026 and years thereafter
 (2017 &#x2013; 6.0% grading to 4.8% for 2026).</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Assumptions regarding future mortality are based on published
 statistics and mortality tables. The current life expectancies
 underlying the values of the obligations in the defined benefit
 pension and retiree welfare plans are as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">U.S.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Life expectancy (in years) for those currently age 65</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Males</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>22.5</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23.6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Females</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24.0</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>25.5</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Life expectancy (in years) at age 65 for those currently age
 45</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Males</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24.1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24.6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Females</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>25.6</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>26.4</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(j) Sensitivity of assumptions on
 obligations</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Assumptions used can have a significant effect on the obligations
 reported for defined benefit pension and retiree welfare plans. The
 potential impact on the obligations arising from changes in the key
 assumptions is set out in the following table. The sensitivities
 assume all other assumptions are held constant. In actuality,
 inter-relationships with other assumptions may exist.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="73%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Pension&#xA0;plans</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Retiree&#xA0;welfare&#xA0;plans</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Discount rate:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of a 1% increase</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(423</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(62</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of a 1% decrease</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>74</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Health care cost trend rate:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of a 1% increase</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of a 1% decrease</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Mortality rates<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of a 10% decrease</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;114</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;14</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">If the actuarial estimates of mortality are adjusted
 in the future to reflect unexpected decreases in mortality, the
 effect of a 10% decrease in mortality rates at each future age
 would be an increase in life expectancy at age 65 of 0.9 years for
 U.S. males and females and 0.8 years for Canadian males and
 females.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(k) Maturity profile</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The weighted average duration (in years) of the defined benefit
 obligations is as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="88%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Pension plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Retiree welfare plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S. plans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8.8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9.5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9.0</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9.8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canadian plans</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;12.4</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">12.8
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;14.3</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">14.2
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(l) Cash flows &#x2013;
 contributions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Total cash payments for all employee future benefits, comprised of
 cash contributed by the Company to funded defined benefit pension
 and retiree welfare plans, cash payments directly to beneficiaries
 in respect of unfunded pension and retiree welfare plans, and cash
 contributed to defined contribution pension plans, are as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="86%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Pension plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Retiree welfare plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined benefit plans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>79</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">85</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">12</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined contribution plans</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>78</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">77</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;157</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;162
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;10</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;12
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s best estimate of expected cash payments for
 employee future benefits for the year ending December&#xA0;31, 2019
 is $88 for defined benefit pension plans, $78 for defined
 contribution pension plans and $12 for retiree welfare plans.</p>
 </div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for employee benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2018-01-01<br> -Section Scope<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2018-03-01&amp;anchor=sect_Scope&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855878432">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Interests in Structured Entities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract', window );"><strong>Investments accounted for using equity method [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory', window );">Interests in Structured Entities</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 17&#xA0;&#xA0;&#xA0;&#xA0;Interests
 in Structured Entities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company is involved with both consolidated and unconsolidated
 structured entities (&#x201C;SEs&#x201D;) which are established to
 generate investment and fee income. The Company is also involved
 with SEs that are used to facilitate financing for the Company.
 These entities may have some or all the following features: control
 is not readily identified based on voting rights; restricted
 activities designed to achieve a narrow objective; high amount of
 leverage; and/or highly structured capital.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company only discloses its involvement in significant
 consolidated and unconsolidated SEs. In assessing the significance,
 the Company considers the nature of its involvement with the SE,
 including whether it is sponsored by the Company (i.e. initially
 organized and managed by the Company). Other factors considered
 include the Company&#x2019;s investment in the SE as compared to
 total investments, its returns from the SE as compared to total net
 investment income, the SE&#x2019;s size as compared to total funds
 under management, and its exposure to any other risks from its
 involvement with the SE.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company does not provide financial or other support to its SEs,
 when it does not have a contractual obligation to do so.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Consolidated SEs</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 3pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Investment SEs</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company acts as an investment manager of timberlands and timber
 companies. The Company&#x2019;s general fund and segregated funds
 invest in many of these companies. The Company has control over one
 timberland company which it manages, Hancock Victoria Plantations
 Holdings PTY Limited (&#x201C;HVPH&#x201D;). HVPH is a SE primarily
 because the Company&#x2019;s employees exercise voting rights over
 it on behalf of other investors. As at December&#xA0;31, 2018, the
 Company&#x2019;s consolidated timber assets relating to HVPH were
 $920 (2017 &#x2013; $884). The Company does not provide guarantees
 to other parties against the risk of loss from HVPH.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Financing SEs</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company securitizes certain insured and variable rate
 commercial and residential mortgages and HELOC. This activity is
 facilitated by consolidated entities that are SEs because their
 operations are limited to issuing and servicing the Company&#x2019;s
 funding. Further information regarding the Company&#x2019;s mortgage
 securitization program is included in note 3.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Unconsolidated SEs</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 3pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Investment SEs</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the Company&#x2019;s investment and
 maximum exposure to loss from significant unconsolidated investment
 SEs, some of which are sponsored by the Company. The Company does
 not provide guarantees to other parties against the risk of loss
 from these SEs.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="86%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Company&#x2019;s investment<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Company&#x2019;s maximum</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">exposure to loss<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Leveraged leases<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,575</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;3,273</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,575</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;3,273</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Timberland companies<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>788</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">736</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>821</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">786</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate companies<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>566</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">361
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>566</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">361
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,929</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">4,370
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,962</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">4,420
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The Company&#x2019;s investments in these
 unconsolidated SEs are included in invested assets and the
 Company&#x2019;s returns from them are included in net investment
 income and AOCI.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The Company&#x2019;s maximum exposure to loss from each
 SE is limited to amounts invested in each, plus unfunded capital
 commitments, if any. The Company&#x2019;s investment commitments are
 disclosed in note 18. The maximum loss is expected to occur only
 upon the entity&#x2019;s bankruptcy/liquidation, or in case of a
 natural disaster in the case of the timber companies.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These entities are statutory business trusts which use
 capital provided by the Company and senior debt provided by other
 parties to finance the acquisition of assets. These assets are
 leased to third-party lessees under long-term leases. The Company
 owns equity capital in these business trusts. The Company does not
 consolidate any of the trusts that are party to the lease
 arrangements because the Company does not have decision-making
 power over them.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These entities own and operate timberlands. The
 Company invests in their equity and debt. The Company&#x2019;s
 returns include investment income, investment advisory fees,
 forestry management fees and performance advisory fees. The Company
 does not control these entities because it either does not have the
 power to govern their financial and operating policies or does not
 have significant variable returns from them, or both.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These entities, which include the Manulife U.S. REIT,
 own and manage commercial real estate. The Company invests in their
 equity. The Company&#x2019;s returns include investment income,
 investment management fees, property management fees,
 acquisition/disposition fees, and leasing fees. The Company does
 not control these entities because it either does not have the
 power to govern their financial and operating policies or does not
 have significant variable returns from them, or both.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Financing SEs</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s interests and maximum exposure to loss from
 significant unconsolidated financing SEs are as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="82%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center">Company&#x2019;s interests<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top; LINE-HEIGHT: 9pt">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">2017</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Finance (Delaware), L.P.<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>821</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">835</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Financial Capital Trust II<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>999</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,000</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;1,820</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;1,835</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The Company&#x2019;s interests include amounts borrowed
 from the SEs and the Company&#x2019;s investment in their
 subordinated capital, and foreign currency and interest swaps with
 them, if any.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">This entity is a wholly-owned partnership used to
 facilitate the Company&#x2019;s financing. Refer to notes 11 and
 18.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">This entity is an open-ended trust that is used to
 facilitate the Company&#x2019;s financing. Refer to note 11.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(i) Other invested assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company has investment relationships with a variety of other
 entities, which result from its direct investment in their debt
 and/or equity and which have been assessed for control. These other
 entities&#x2019; investments include but are not limited to
 investments in power and infrastructure, oil and gas, private
 equity, real estate and agriculture, organized as limited
 partnerships and limited liability companies. Most of these other
 entities are not sponsored by the Company. The Company&#x2019;s
 involvement with these other entities is not individually
 significant. As such, the Company neither provides summary
 financial data for these entities nor individually assesses whether
 they are SEs. The Company&#x2019;s maximum exposure to losses
 because of its involvement with these other entities is limited to
 its investment in them and amounts committed to be invested but not
 yet funded. The Company records its income from these entities in
 net investment income and AOCI. The Company does not provide
 guarantees to other parties against the risk of loss from these
 other entities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(ii) Interest in securitized
 assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company invests in mortgage/asset-backed securities issued by
 securitization vehicles sponsored by other parties, including
 private issuers and government sponsored issuers, to generate
 investment income. The Company does not own a controlling financial
 interest in any of the issuers. These securitization vehicles are
 SEs based on their narrow scope of activities and highly leveraged
 capital structures. Investments in mortgage/asset-backed securities
 are reported on the Consolidated Statements of Financial Position
 as debt securities and private placements, and their fair value and
 carrying value are disclosed in note 3. The Company&#x2019;s maximum
 loss from these investments is limited to amounts invested.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Commercial mortgage backed securities (&#x201C;CMBS&#x201D;) are
 secured by commercial mortgages and residential mortgage backed
 securities (&#x201C;RMBS&#x201D;) are secured by residential
 mortgages. Asset-backed securities (&#x201C;ABS&#x201D;) may be
 secured by various underlying assets including credit card
 receivables, automobile loans and aviation leases. The
 mortgage/asset-backed securities that the Company invests in
 primarily originate in North America.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents investments in securitized holdings by
 the type and asset quality.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="60%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="16"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center">2017</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">CMBS</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">RMBS</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">ABS</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 AAA</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,653</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>810</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,471</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,503</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 AA</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>306</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>306</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">401</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 A</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>374</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>453</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">504</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 BBB</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>70</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>70</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">142</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 BB and below</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">26</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total company exposure</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;1,725</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;15</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;1,560</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;3,300</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;3,576</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(iii) Mutual funds</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company sponsors and may invest in a range of public mutual
 funds with a broad range of investment styles. As sponsor, the
 Company organizes mutual funds that implement investment strategies
 on behalf of current and future investors. The Company earns fees
 which are at market rates for providing advisory and administrative
 services to these mutual funds. Generally, the Company does not
 control its sponsored mutual funds because either the Company does
 not have power to govern their financial and operating policies, or
 its returns in the form of fees and ownership interests are not
 significant, or both. Certain mutual funds are SEs because their
 decision-making rights are not vested in voting equity interests
 and their investors are provided with redemption rights.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s relationships with these mutual funds are not
 individually significant. As such, the Company neither provides
 summary financial data for these mutual funds nor individually
 assesses whether they are SEs. The Company&#x2019;s interest in
 mutual funds is limited to its investment and fees earned, if any.
 The Company&#x2019;s investments in mutual funds are recorded as
 part of its investment in public equities within the Consolidated
 Statements of Financial Position. For information regarding the
 Company&#x2019;s invested assets, refer to note 3. The Company does
 not provide guarantees to other parties against the risk of loss
 from these mutual funds.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 As sponsor, the Company&#x2019;s investment in startup capital of
 mutual funds as at December&#xA0;31, 2018 was $1,711 (2017 &#x2013;
 $1,918). The Company&#x2019;s retail mutual fund assets under
 management as at December&#xA0;31, 2018 were $182,219 (2017 &#x2013;
 $191,507).</p>
 </div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for interests in other entities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 1<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_1&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834543088">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCommitmentsAndContingenciesExplanatory', window );">Commitments and Contingencies</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 18&#xA0;&#xA0;&#xA0;&#xA0;
 Commitments and Contingencies</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Legal proceedings</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company is regularly involved in legal actions, both as a
 defendant and as a plaintiff. The legal actions where the Company
 is a party ordinarily relate to its activities as a provider of
 insurance protection or wealth management products, reinsurance, or
 its capacity as an investment adviser, employer, or taxpayer. Other
 life insurers and asset managers, operating in the jurisdictions in
 which the Company does business, have been subject to a wide
 variety of other types of actions, some of which resulted in
 substantial judgments or settlements against the defendants; it is
 possible that the Company may become involved in similar actions in
 the future. In addition, government and regulatory bodies in
 Canada, the United States, Asia and other jurisdictions where the
 Company conducts business regularly make inquiries and, from time
 to time, require the production of information or conduct
 examinations concerning the Company&#x2019;s compliance with, among
 other things, insurance laws, securities laws, and laws governing
 the activities of broker-dealers.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 A class action against John Hancock Life Insurance Company (U.S.A.)
 (&#x201C;JHUSA&#x201D;) is pending in the U.S. District Court for the
 Southern District of New York (the &#x201C;Southern District of
 NY&#x201D;) in which claims are made that JHUSA breached, and
 continues to breach, the contractual terms of certain universal
 life policies issued between approximately 1990 and 2006 by
 including impermissible charges in its cost of insurance
 (&#x201C;COI&#x201D;) calculations and certain other rider charges.
 The Company believes that its COI calculations have been, and
 continue to be, in accordance with the terms of the
 policies.&#xA0;In May 2018, the parties agreed to the financial
 terms of a settlement in the amount of US$91. On November&#xA0;1,
 2018, the court granted preliminary approval of the US$91
 settlement and scheduled a fairness hearing for February&#xA0;19,
 2019.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In June 2018, a class action was initiated against JHUSA and John
 Hancock Life Insurance Company of New York (&#x201C;JHNY&#x201D;) in
 the Southern District of NY on behalf of owners of Performance
 universal life policies issued between 2003 and 2009 whose policies
 are subject to a COI increase announced in 2018. In October 2018,
 an almost identical class action was initiated against JHUSA and
 JHNY in the Southern District of NY. It was filed as a related case
 as the one filed in June and has been assigned to the same judge.
 Discovery has commenced in these cases and will continue through
 2019. No hearings on substantive matters have been scheduled. It is
 too early to assess the range of potential outcomes for these two
 related lawsuits.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Investment commitments</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In the normal course of business, various investment commitments
 are outstanding which are not reflected in the Consolidated
 Financial Statements. There were $10,372 (2017 &#x2013; $8,235) of
 outstanding investment commitments as at December&#xA0;31, 2018, of
 which $888 (2017 &#x2013; $682) mature in 30 days, $3,546 (2017
 &#x2013; $2,177) mature in 31 to 365 days and $5,938 (2017 &#x2013;
 $5,376) mature after one year.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Letters of credit</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In the normal course of business, third-party relationship banks
 issue letters of credit on the Company&#x2019;s behalf. The
 Company&#x2019;s businesses utilize letters of credit for which
 third parties are the beneficiaries, as well as for affiliate
 reinsurance transactions between its subsidiaries. As at
 December&#xA0;31, 2018, letters of credit for which third parties
 are beneficiary, in the amount of $74 (2017 &#x2013; $77), were
 outstanding.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(d) Guarantees</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 3pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(i) Guarantees regarding Manulife Finance
 (Delaware), L.P. (&#x201C;MFLP&#x201D;)</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 MFC has guaranteed the payment of amounts on the $650 subordinated
 debentures due on December&#xA0;15, 2041 issued by MFLP, a
 wholly-owned unconsolidated partnership.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(ii) Guarantees regarding The
 Manufacturers Life Insurance Company</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 On January&#xA0;29, 2007, MFC provided a subordinated guarantee, as
 amended and restated on January&#xA0;13, 2017, of Class&#xA0;A
 Shares and Class&#xA0;B Shares of MLI and any other class of
 preferred shares that rank in parity with Class&#xA0;A Shares or
 Class&#xA0;B Shares of MLI. For the following subordinated
 debentures issued by MLI, MFC has provided a subordinated guarantee
 on the day of issuance: $500 issued on February&#xA0;21, 2014; $500
 issued on December&#xA0;1, 2014; $750 issued on March&#xA0;10,
 2015; $350 issued on June&#xA0;1, 2015; and $1,000 issued on
 November&#xA0;20, 2015.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table sets forth certain condensed consolidated
 financial information for MFC and MFLP.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Condensed Consolidated Statements of
 Income Information</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
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 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right">MFC<br />
 (Guarantor)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right">MLI<br />
 consolidated</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right">Other<br />
 subsidiaries of<br />
 MFC on a<br />
 combined&#xA0;basis</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right">Consolidation<br />
 adjustments</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right">Total<br />
 consolidated<br />
 amounts</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt" align="right">MFLP</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total revenue</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>443</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;38,994</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;434</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(899)</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;38,972</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;62</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss) attributed to shareholders</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;4,800</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,076</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(419</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(4,657)</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>22</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="13"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">MLI<br />
 consolidated</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Other<br />
 subsidiaries of<br />
 MFC on a<br />
 combined&#xA0;basis</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total<br />
 consolidated<br />
 amounts</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">MFLP</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total revenue</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">182</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">58,445</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">270</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(574</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">58,323</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">29</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss) attributed to shareholders</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,467</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(257</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;(2,210</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">6</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Condensed Consolidated Statements of
 Financial Position</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="77%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">MLI<br />
 consolidated</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<br />
 subsidiaries of<br />
 MFC on a<br />
 combined&#xA0;basis</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total<br />
 consolidated<br />
 amounts</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">MFLP</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>353,632</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;353,664</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total other assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;54,346</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>83,523</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(54,474</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>83,398</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,059</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Insurance contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;328,654</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>328,654</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,265</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,265</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>8,403</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>50,043</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(454</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>57,992</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>833</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="13"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">MLI<br />
 consolidated</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<br />
 subsidiaries of<br />
 MFC on a<br />
 combined&#xA0;basis</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total<br />
 consolidated<br />
 amounts</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">MFLP</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">21</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">334,191</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">334,222</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total other assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;48,688</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">71,180</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(48,868</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">71,004</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,033</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Insurance contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;304,605</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">304,605</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,126</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,126</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">7,696</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">48,145</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(509</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">55,332</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">831</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(iii) Guarantees regarding John Hancock
 Life Insurance Company (U.S.A.)
 (&#x201C;JHUSA&#x201D;)</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Details of guarantees regarding certain securities issued or to be
 issued by JHUSA are outlined in note 23.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(e) Pledged assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In the normal course of business, the Company pledges its assets in
 respect of liabilities incurred, strictly for providing collateral
 to the counterparty. In the event of the Company&#x2019;s default,
 the counterparty is entitled to apply the collateral to settle the
 liability. The pledged assets are returned to the Company if the
 underlying transaction is terminated or, in the case of
 derivatives, if there is a decrease in the net exposure due to
 market value changes.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The amounts pledged are as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="60%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="8"></td>
 <td height="5" colspan="2"></td>
 <td height="5" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Debt securities</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Debt securities</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 In respect of:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Derivatives</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,655</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>102</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3,189</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">44</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Regulatory requirements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>412</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>84</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">398</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">86</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Repurchase agreements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>64</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">228</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-registered</font>&#xA0;retirement
 plans in trust</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>420</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">412</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>301</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">271</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,134</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;907</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;3,818</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;815</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(f) Lease obligations</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company has a number of operating lease obligations, primarily
 for the use of office space. The aggregate future minimum lease
 payments under&#xA0;<font style="WHITE-SPACE: nowrap">non-cancelable</font>&#xA0;operating
 leases are $575 (2017 &#x2013; $838). Payments by year are included
 in the &#x201C;Risk Management&#x201D; section of the Company&#x2019;s
 2018 MD&amp;A under Liquidity Risk.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(g) Participating business</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In some territories where the Company maintains participating
 accounts, there are regulatory restrictions on the amounts of
 profit that can be transferred to shareholders. Where applicable,
 these restrictions generally take the form of a fixed percentage of
 policyholder dividends. For participating businesses operating as
 separate &#x201C;closed blocks&#x201D;, transfers are governed by the
 terms of MLI&#x2019;s and John Hancock Mutual Life Insurance
 Company&#x2019;s plans of demutualization.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(h) Fixed surplus notes</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 A third party contractually provides standby financing arrangements
 for the Company&#x2019;s U.S. operations under which, in certain
 circumstances, funds may be provided in exchange for the issuance
 of fixed surplus notes. As at December&#xA0;31, 2018, the Company
 had no fixed surplus notes outstanding.</p>


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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855894112">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segmented Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 19&#xA0;&#xA0;&#xA0;&#xA0;Segmented
 Information</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, as a result of the organizational
 changes made to drive better alignment with the Company&#x2019;s
 strategic priorities as well as to increase focus and leverage
 scale in its wealth and asset management businesses, the
 Company&#x2019;s wealth and asset management businesses are now a
 primary reporting segment.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s reporting segments are Asia, Canada, U.S.,
 Global WAM and Corporate and Other. Each reporting segment is
 responsible for managing its operating results, developing
 products, defining strategies for services and distribution based
 on the profile and needs of its business and market. The
 Company&#x2019;s significant product and service offerings are shown
 below.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <b>Wealth and asset management businesses (Global
 WAM)</b>&#xA0;&#x2013; include mutual funds and
 exchange-traded funds, group retirement and savings products, and
 institutional asset management services across all major asset
 classes. These products and services are distributed through
 multiple distribution channels, including agents and brokers
 affiliated with the Company, independent securities brokerage firms
 and financial advisors, pension plan consultants and banks.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <b>Insurance and annuity products (Asia, Canada and
 U.S.)</b>&#xA0;&#x2013; includes a variety of
 individual life insurance, individual and group long-term care
 insurance and guaranteed and partially guaranteed annuity products.
 Products are distributed through multiple distribution channels,
 including insurance agents, brokers, banks, financial planners and
 direct marketing. Manulife Bank of Canada offers a variety of
 deposit and credit products to Canadian customers.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <b>Corporate and Other Segment</b>&#xA0;&#x2013;
 comprised of investment performance on assets backing capital, net
 of amounts allocated to operating segments; costs incurred by the
 corporate office related to shareholder activities (not allocated
 to the operating segments); financing costs; Property and Casualty
 Reinsurance Business; and&#xA0;<font style="WHITE-SPACE: nowrap">run-off</font>&#xA0;reinsurance
 operations including variable annuities and accident and
 health.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In addition to changing the segments, the Company changed the
 segment reporting for the changes to actuarial methods and
 assumptions. These changes were previously reported in the
 Corporate and Other segment and are now reported in the respective
 reporting segments. Prior period amounts have been restated to
 reflect these changes.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>By segment</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="40%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at and for the year
 ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Global WAM</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Corporate</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">and Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,938</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,975</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,341</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>98</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,352</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,175</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>452</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9,967</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(6,340</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net premium income</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>18,113</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>9,427</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,626</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>98</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24,012</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>278</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,764</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,723</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(225</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,532</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,296</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,446</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,542</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,472</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(328</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,428</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>19,687</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,637</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>639</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,464</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(455</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>38,972</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Contract benefits and expenses</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,875</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,044</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,255</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23,137</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,986</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>518</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9,784</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>77</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7,203</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net benefits and claims</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,861</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,562</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(5,529</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>77</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest expense</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>187</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>447</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>583</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,275</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other expenses</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,749</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,063</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,428</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,322</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>682</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>16,244</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total contract benefits and expenses</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>17,797</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,072</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,045</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,401</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,228</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>33,453</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) before income taxes</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,890</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,565</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,684</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,063</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,683</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,519</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income tax recovery (expense)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(355</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(321</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(352</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(108</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>504</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(632</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss)</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,535</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,244</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,332</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>955</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,887</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Less net income (loss) attributed to:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>&#xA0;interests</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>208</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Participating policyholders</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(360</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>233</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(127</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss) attributed to shareholders</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,687</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,011</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,332</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>955</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,185</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;112,327</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;214,101</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;272,228</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;130,379</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;21,236</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;750,271</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at and for the year
 ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2017</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Global WAM</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Corporate</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">and Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">13,145</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,322</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,778</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">110</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">24,355</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,568</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">443</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">844</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,855</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net premium income</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,713</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,765</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,622</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">110</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">28,210</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,044</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,560</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,657</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">42</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">64</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,367</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">933</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,862</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,039</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,158</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(246</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">10,746</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">20,690</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">11,187</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">21,318</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,200</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(72</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">58,323</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Contract benefits and expenses</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,881</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,018</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,193</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">268</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">33,360</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,889</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,404</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,574</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">74</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,941</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net benefits and claims</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,770</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,422</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,767</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">74</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">268</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">39,301</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest expense</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">164</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">36</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">631</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,139</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other expenses</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,360</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,069</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,374</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,193</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">386</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">15,382</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total contract benefits and expenses</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">18,294</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">10,798</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">21,177</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,268</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,285</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">55,822</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) before income taxes</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,396</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">389</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">141</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">932</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,357</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,501</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income tax recovery (expense)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(405</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">159</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,342</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">146</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,203</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(239</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss)</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,991</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">548</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,201</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,078</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(154</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,262</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Less net income (loss) attributed to:</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>&#xA0;interests</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">187</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">194</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Participating policyholders</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(30</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(6</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(36</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss) attributed to shareholders</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">1,834</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">554</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(1,201</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">1,078</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(161</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;96,354</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;217,813</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;263,523</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;131,779</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;20,064</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;729,533</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">During the year, the Company ceded premiums to
 reinsure a block of legacy U.S. individual pay-out annuities
 business, refer to note 7(k) for details.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The results of the Company&#x2019;s reporting segments differ from
 its geographic segments primarily due to the allocation of the
 Company&#x2019;s Global WAM and Corporate and Other segments into
 the geographic segments to which its businesses relate.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>By geographic location</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 14pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="56%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at and for the year
 ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,010</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,561</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,342</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>439</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,352</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,175</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>452</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9,967</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(6,340</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net premium income</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>18,185</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>9,013</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,625</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>439</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24,012</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>371</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,933</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,032</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>196</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,532</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,115</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,904</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,395</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,428</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>20,671</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14,850</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,802</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>649</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>38,972</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at and for the year
 ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2017</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">13,215</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3,894</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,780</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">466</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">24,355</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,568</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">443</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">844</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,855</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net premium income</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,783</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,337</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,624</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">466</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">28,210</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,258</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,642</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,407</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">60</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,367</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,632</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,187</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,911</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">16</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">10,746</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;21,673</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;12,166</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;23,942</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;542</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;58,323</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <br class="Apple-interchange-newline" />

 </div><span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for operating segments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855938480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Parties<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRelatedPartyExplanatory', window );">Related Parties</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 20&#xA0;&#xA0;&#xA0;&#xA0;Related
 Parties</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company enters into transactions with related parties in the
 normal course of business and at the terms that would exist
 in&#xA0;<font style="WHITE-SPACE: nowrap">arm&#x2019;s-length</font>&#xA0;transactions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Transactions with certain related
 parties</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Transactions with MFLP, a wholly owned unconsolidated partnership,
 and MFCT, a wholly owned unconsolidated trust, are described in
 notes 10, 11 and 18. Refer to note&#xA0;3(a) for additional
 transactions with related parties.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Compensation of key management
 personnel</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s key management personnel are those personnel
 who have the authority and responsibility for planning, directing
 and controlling the activities of the Company. Directors (both
 executive and&#xA0;<font style="WHITE-SPACE: nowrap">non-executive)</font>&#xA0;and
 senior management are considered key personnel. In 2018, this group
 was expanded to include a greater number of executives. As a
 result, the 2017 figures below have been restated to align with
 this larger group. A summary of compensation of key management
 personnel is as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
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 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Short-term employee benefits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>65</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">78</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Post-employment benefits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>5</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Share-based payments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>50</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">59</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Termination benefits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>5</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other long-term benefits</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;127</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;150</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <br class="Apple-interchange-newline" /></div><span></span>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2018-01-01<br> -Section Disclosures<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2018-03-01&amp;anchor=sect_Disclosures&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834827088">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsidiaries<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory', window );">Subsidiaries</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 21 Subsidiaries</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following is a list of Manulife&#x2019;s directly and indirectly
 held major operating subsidiaries.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="50%"></td>
 <td valign="bottom"></td>
 <td width="14%"></td>
 <td valign="bottom"></td>
 <td width="34%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>(100% owned unless otherwise noted in
 brackets beside company name)</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>Address</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>Description</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>The Manufacturers Life Insurance Company</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center">Toronto, Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Leading Canadian-based financial services company that offers a
 diverse range of financial protection products and wealth
 management services</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Holdings (Alberta) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Calgary, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Financial Corporation</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Wilmington,</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Delaware,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Holding company</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 The Manufacturers Investment Corporation</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Michigan, U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Reassurance Company Ltd.</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center">Michigan, U.S.A.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Captive insurance subsidiary that provides life, annuity and
 long-term care reinsurance to affiliates</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Life Insurance Company (U.S.A.)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center">Michigan, U.S.A.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 U.S. life insurance company licensed in all states, except New
 York</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Subsidiaries LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center">Wilmington, Delaware,&#xA0;U.S.A.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Holding company</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Financial Network, Inc.</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Financial services distribution organization</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Advisers, LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Investment advisor</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 11em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Funds, LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts, U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Broker-dealer</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (U.S.), LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Wilmington, Delaware,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Asset management company</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Hancock Natural Resource Group, Inc.</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Manager of globally diversified timberland and agricultural
 portfolios</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Life Insurance Company of New York</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">New York, U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 U.S. life insurance company licensed in New York</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Investment Management Services, LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Investment advisor</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Life&#xA0;&amp; Health Insurance Company</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 U.S. life insurance company licensed in all states</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Distributors, LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Wilmington, Delaware,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Broker-dealer</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Insurance Agency, Inc.</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Wilmington, Delaware,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Insurance agency</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Reinsurance Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hamilton, Bermuda</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Provides life and financial reinsurance to affiliates</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Reinsurance (Bermuda) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hamilton, Bermuda</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Provides life and annuity reinsurance to affiliates</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Bank of Canada</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center">Waterloo, Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Provides integrated banking products and service options not
 available from an insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management Holdings (Canada), Inc.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Provides investment counseling, portfolio and mutual fund
 management in Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 First North American Insurance Company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Property and casualty insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 NAL Resources Management Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Calgary, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Management company for oil and gas properties</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Resources Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Calgary, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holds oil and gas properties</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Property Limited Partnership</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holds oil and gas royalties</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Property Limited Partnership II</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holds oil and gas royalties and foreign bonds and equities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Western Holdings Limited Partnership</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Calgary, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holds oil and gas properties</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Securities Investment Services, Inc.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Oakville, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Mutual fund dealer for Canadian operations</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Holdings (Bermuda) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hamilton, Bermuda</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manufacturers P&amp;C Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">St. Michael, Barbados</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Provides property and casualty reinsurance</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Financial Asia Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hong Kong, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife (Cambodia) PLC</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Phnom Penh, Cambodia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manufacturers Life Reinsurance Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">St. Michael, Barbados</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Provides life and annuity reinsurance to affiliates</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife (Vietnam) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Ho Chi Minh City, Vietnam</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Vietnam) Company Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Ho Chi Minh City, Vietnam</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Fund management company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife International Holdings Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hong Kong, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife (International) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hong Kong, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife-Sinochem Life Insurance Co. Ltd. (51%)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Shanghai, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management International Holdings Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hong Kong, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Hong Kong) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hong Kong, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment management and advisory company marketing mutual
 funds</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Taiwan) Co., Ltd.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Taipei, Taiwan (China)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Asset management company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Life Insurance Company (Japan)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Tokyo, Japan</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Japan) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Tokyo, Japan</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment management and advisory company and mutual fund
 business</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Insurance (Thailand) Public Company Limited
 (85.8%)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Bangkok, Thailand</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Thailand) Company Limited
 (92.7%)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Bangkok, Thailand</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment management company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Holdings Berhad (59.5%)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Kuala Lumpur, Malaysia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Insurance Berhad (59.5%)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Kuala Lumpur, Malaysia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management Services Berhad (59.5%)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Kuala Lumpur, Malaysia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Asset management company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife (Singapore) Pte. Ltd.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Singapore</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Singapore) Pte. Ltd.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Singapore</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Asset management company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 The Manufacturers Life Insurance Co. (Phils.), Inc.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Makati City, Philippines</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Chinabank Life Assurance Corporation (60%)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Makati City, Philippines</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 PT Asuransi Jiwa Manulife Indonesia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Jakarta, Indonesia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 PT Manulife Aset Manajemen Indonesia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Jakarta, Indonesia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment management company marketing mutual funds and
 discretionary funds</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Europe) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">London, England</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment management company for Manulife Financial&#x2019;s
 international funds</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Assurance Company of Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 EIS Services (Bermuda) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hamilton, Bermuda</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Berkshire Insurance Services Inc.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 JH Investments (Delaware), LLC</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Securities Incorporated</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Oakville, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment dealer</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (North America) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment advisor</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Regional Power Inc.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Mississauga, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Developer and operator of hydro-electric power projects</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MFC voting rights percentages are the same as the
 ownership percentages except for Manulife Insurance (Thailand)
 Public Company Limited and Manulife Asset Management (Thailand)
 Company Limited where MFC&#x2019;s voting rights are 93.0% and
 96.4%, respectively.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of interests in subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 2<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_2_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855871472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segregated Funds<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSegregatedFundsExplanatory', window );">Segregated Funds</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#2A517F"><b>Note 22&#xA0;&#xA0;&#xA0;&#xA0;Segregated
 Funds</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company manages segregated funds on behalf of policyholders.
 Policyholders are provided with the opportunity to invest in
 different categories of segregated funds that respectively hold a
 range of underlying investments. The Company retains legal title to
 the underlying investments; however, returns from these investments
 belong to the policyholders. Accordingly, the Company does not bear
 the risk associated with these assets outside of guarantees offered
 on certain variable life and annuity products. The &#x201C;Risk
 Management&#x201D; section of the Company&#x2019;s 2018 MD&amp;A
 provides information regarding the variable annuity and segregated
 fund guarantees.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The composition of net assets by categories of segregated funds was
 within the following ranges for the years ended December&#xA0;31,
 2018 and 2017.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="76%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center">Ranges in per cent</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>Type of fund</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">2017</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Money market funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>2%&#xA0;to&#xA0;3%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">2% to 3%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed income funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>14%&#xA0;to&#xA0;15%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 14%&#xA0;to&#xA0;15%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balanced funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>25% to 26%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">22% to 29%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity funds</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>58% to
 60%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right">55% to 60%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Money market funds consist of investments that have a term to
 maturity of less than one year. Fixed income funds primarily
 consist of investments in fixed grade income securities and may
 contain smaller investments in diversified equities or high-yield
 bonds. Relative to fixed income funds, balanced funds consist of
 fixed income securities and a larger equity investment component.
 The types of equity funds available to policyholders range from low
 volatility equity funds to aggressive equity funds. Equity funds
 invest in a varying mix of Canadian, U.S. and global equities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The underlying investments of the segregated funds consist of both
 individual securities and mutual funds (collectively &#x201C;net
 assets&#x201D;), some of which may be structured entities. The
 carrying value and change in segregated funds net assets are as
 follows. Fair value related information of segregated funds is
 disclosed in note 3(g).</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Segregated funds net assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="79%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Investments at market value</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Cash and short-term securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,700</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,756</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,313</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,472</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,661</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,624</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Mutual funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>277,133</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">288,007</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other investments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,678</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,514</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Accrued investment income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,811</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">201</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other assets and liabilities, net</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(700</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(766</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total segregated funds net assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>313,596</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">324,808</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Composition of segregated funds net assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Held by policyholders</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Held by the Company</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>387</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">501</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total segregated funds net assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;313,596</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;324,808</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Changes in segregated funds net
 assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="79%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net policyholder cash flow</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deposits from policyholders</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>38,236</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">34,776</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net transfers to general fund</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,089</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,734</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Payments to policyholders</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(47,475</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(46,305</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(10,328</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(13,263</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Investment related</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest and dividends</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,535</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,930</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net realized and unrealized investment gains (losses)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(34,683</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">24,384</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(15,148</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">41,314</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Other</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Management and administration fees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,985</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4,161</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18,249</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(14,790</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14,264</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(18,951</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net additions (deductions)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(11,212</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9,100</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net assets, beginning of year</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>324,808</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">315,708</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Segregated funds net assets, end of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;313,596</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;324,808</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Segregated funds assets may be exposed to a variety of financial
 and other risks. These risks are primarily mitigated by investment
 guidelines that are actively monitored by professional and
 experienced portfolio advisors. The Company is not exposed to these
 risks beyond the liabilities related to the guarantees associated
 with certain variable life and annuity products. Accordingly, the
 Company&#x2019;s exposure to loss from segregated fund products is
 limited to the value of these guarantees.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 These guarantees are recorded within the Company&#x2019;s insurance
 contract liabilities. Assets supporting these guarantees are
 recognized in invested assets according to their investment
 type.</p>


 </div><span></span>
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</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for segregated funds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834619648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Information Provided in Connection with Investments in Deferred Annuity Contracts and SignatureNotes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatory', window );">Information Provided in Connection with Investments in Deferred Annuity Contracts and SignatureNotes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.)</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#2A517F"><b>Note 23&#xA0;&#xA0;&#xA0;&#xA0;
 Information Provided in Connection with Investments in Deferred
 Annuity Contracts and</b> <b><i>Signature</i></b><b>Notes Issued or
 Assumed by John Hancock Life Insurance Company
 (U.S.A.)</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The following condensed consolidated financial information,
 presented in accordance with IFRS, and the related disclosure have
 been included in these Consolidated Financial Statements with
 respect to JHUSA in compliance with Regulation <font style="WHITE-SPACE: nowrap">S-X</font> and Rule <font style="WHITE-SPACE: nowrap">12h-5</font> of the United States Securities
 and Exchange Commission (the &#x201C;Commission&#x201D;). These
 financial statements are incorporated by reference in the MFC and
 its subsidiaries registration statements that are described below
 and which relate to MFC&#x2019;s guarantee of certain securities to
 be issued by its subsidiaries.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 JHUSA maintains a book of deferred annuity contracts that feature a
 market value adjustment, some of which are registered with the
 Commission. The deferred annuity contracts may contain variable
 investment options along with fixed investment period options, or
 may offer only fixed investment period options. The fixed
 investment period options enable the participant to invest fixed
 amounts of money for fixed terms at fixed interest rates, subject
 to a market value adjustment if the participant desires to
 terminate a fixed investment period before its maturity date. The
 annuity contract provides for the market value adjustment to keep
 the parties whole with respect to the fixed interest bargain for
 the entire fixed investment period. These fixed investment period
 options that contain a market value adjustment feature are referred
 to as &#x201C;MVAs&#x201D;.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 JHUSA may also sell medium-term notes to retail investors under its
 <i>Signature</i>Notes program.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Effective December&#xA0;31, 2009, John Hancock Variable Life
 Insurance Company (the &#x201C;Variable Company&#x201D;) and John
 Hancock Life Insurance Company (the &#x201C;Life Company&#x201D;)
 merged with and into JHUSA. In connection with the mergers, JHUSA
 assumed the Variable Company&#x2019;s rights and obligations with
 respect to the MVAs issued by the Variable Company and the Life
 Company&#x2019;s rights and obligations with respect to the
 <i>Signature</i>Notes issued by the Life Company.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 MFC fully and unconditionally guaranteed the payment of
 JHUSA&#x2019;s obligations under the MVAs and under the
 <i>Signature</i>Notes (including the MVAs and <i>Signature</i>Notes
 assumed by JHUSA in the merger), and such MVAs and the
 <i>Signature</i>Notes were registered with the Commission. The
 <i>Signature</i>Notes and MVAs assumed or issued by JHUSA are
 collectively referred to in this note as the &#x201C;Guaranteed
 Securities&#x201D;. JHUSA is, and each of the Variable Company and
 the Life Company was, a wholly owned subsidiary of MFC.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 MFC&#x2019;s guarantees of the Guaranteed Securities are unsecured
 obligations of MFC and are subordinated in right of payment to the
 prior payment in full of all other obligations of MFC, except for
 other guarantees or obligations of MFC which by their terms are
 designated as ranking equally in right of payment with or
 subordinate to MFC&#x2019;s guarantees of the Guaranteed
 Securities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The laws of the State of New York govern MFC&#x2019;s guarantees of
 the <i>Signature</i>Notes issued or assumed by JHUSA and the laws
 of the Commonwealth of Massachusetts govern MFC&#x2019;s guarantees
 of the MVAs issued or assumed by JHUSA. MFC has consented to the
 jurisdiction of the courts of New York and Massachusetts. However,
 because a substantial portion of MFC&#x2019;s assets are located
 outside the United States, the assets of MFC located in the United
 States may not be sufficient to satisfy a judgment given by a
 federal or state court in the United States to enforce the
 subordinate guarantees. In general, the federal laws of Canada and
 the laws of the Province of Ontario, where MFC&#x2019;s principal
 executive offices are located, permit an action to be brought in
 Ontario to enforce such a judgment provided that such judgment is
 subsisting and unsatisfied for a fixed sum of money and not void or
 voidable in the United States and a Canadian court will render a
 judgment against MFC in a certain dollar amount, expressed in
 Canadian dollars, subject to customary qualifications regarding
 fraud, violations of public policy, laws limiting the enforcement
 of creditor&#x2019;s rights and applicable statutes of limitations
 on judgments. There is currently no public policy in effect in the
 Province of Ontario that would support avoiding the recognition and
 enforcement in Ontario of a judgment of a New York or Massachusetts
 court on MFC&#x2019;s guarantees of the <i>Signature</i>Notes issued
 or assumed by JHUSA or a Massachusetts court on guarantees of the
 MVAs issued or assumed by JHUSA.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 MFC is a holding company. MFC&#x2019;s assets primarily consist of
 investments in its subsidiaries. MFC&#x2019;s cash flows primarily
 consist of dividends and interest payments from its operating
 subsidiaries, offset by expenses and shareholder dividends and MFC
 stock repurchases. As a holding company, MFC&#x2019;s ability to
 meet its cash requirements, including, but not limited to, paying
 any amounts due under its guarantees, substantially depends upon
 dividends from its operating subsidiaries.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 These subsidiaries are subject to certain regulatory restrictions
 under laws in Canada, the United States and certain other
 countries, which may limit their ability to pay dividends or make
 contributions or loans to MFC. For example, some of MFC&#x2019;s
 subsidiaries are subject to restrictions prescribed by the ICA on
 their ability to declare and pay dividends. The restrictions
 related to dividends imposed by the ICA are described in note
 13.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 In the United States, insurance laws in Michigan, New York, and
 Massachusetts, the jurisdictions in which certain of MFC&#x2019;s
 U.S. insurance company subsidiaries are domiciled, impose general
 limitations on the payment of dividends and other upstream
 distributions or loans by these insurance subsidiaries. These
 limitations are described in note 13.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 In Asia, the insurance laws of the jurisdictions in which MFC
 operates either provide for specific restrictions on the payment of
 dividends or other distributions or loans by subsidiaries or impose
 solvency or other financial tests, which could affect the ability
 of subsidiaries to pay dividends in certain circumstances.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 There can be no assurance that any current or future regulatory
 restrictions in Canada, the United States or Asia will not impair
 MFC&#x2019;s ability to meet its cash requirements, including, but
 not limited to, paying any amounts due under its guarantee.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The following condensed consolidated financial information,
 presented in accordance with IFRS, reflects the effects of the
 mergers and is provided in compliance with Regulation <font style="WHITE-SPACE: nowrap">S-X</font> and in accordance with Rule
 <font style="WHITE-SPACE: nowrap">12h-5</font> of the
 Commission.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Condensed Consolidated Statement of
 Financial Position</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="54%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">JHUSA<br />
 (Issuer)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Other<br />
 subsidiaries</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Consolidated<br />
 MFC</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>105,043</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>248,962</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(362</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>353,664</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investments in unconsolidated subsidiaries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>54,015</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,356</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,738</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(79,109</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reinsurance assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>63,435</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>9,136</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(29,518</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>43,053</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>331</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,025</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>43,213</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(20,224</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>40,345</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>168,476</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>146,671</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,938</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>313,209</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>54,367</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>361,335</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>465,720</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(131,151</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>750,271</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Liabilities and equity</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Insurance contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>155,162</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>203,682</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(30,190</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>328,654</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,191</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,076</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,265</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>275</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>18,136</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>46,072</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(19,992</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>44,491</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Long-term debt</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,769</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,769</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital instruments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,359</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>632</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,741</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,732</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>168,476</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>146,671</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,938</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Shareholders&#x2019; equity</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>45,964</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,738</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>61,291</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(79,029</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>45,964</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Participating policyholders&#x2019; equity</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>94</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>94</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>
 interests</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,093</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,093</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total liabilities and equity</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;54,367</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;361,335</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;465,720</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;(131,151</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;750,271</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 12pt">
 <font color="#1F320C"><b>Condensed Consolidated Statement of
 Financial Position</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="54%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">JHUSA<br />
 (Issuer)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Other<br />
 subsidiaries</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Consolidated<br />
 MFC</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Assets</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">21</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">108,144</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">226,421</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(364</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">334,222</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investments in unconsolidated subsidiaries</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">48,374</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,509</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14,999</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(69,882</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reinsurance assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">49,927</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8,281</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(27,849</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">30,359</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">314</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,678</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40,715</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(19,062</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40,645</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">176,139</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">149,812</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(1,644</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">324,307</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;48,709</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;359,397</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;440,228</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(118,801</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;729,533</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Liabilities and equity</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Insurance contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">147,155</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">185,884</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(28,434</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">304,605</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,130</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,998</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,126</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">297</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,399</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">41,395</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(18,930</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">42,161</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Long-term debt</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,784</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,784</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital instruments</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,615</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">584</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,188</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8,387</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">176,139</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">149,812</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,644</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Shareholders&#x2019; equity</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">41,013</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14,990</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">54,801</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(69,791</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">41,013</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Participating policyholders&#x2019; equity</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">221</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">221</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>
 interests</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">929</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">929</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total liabilities and equity</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">48,709</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">359,397</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">440,228</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(118,801</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">729,533</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Condensed Consolidated Statement of
 Income</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="50%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">JHUSA<br />
 (Issuer)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Other<br />
 subsidiaries</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Consolidated<br />
 MFC</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gross premiums</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,452</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>31,814</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,116</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>39,150</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Premiums ceded to reinsurers</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(14,149</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,105</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,116</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(15,138</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net premium income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(5,697</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>29,709</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24,012</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>907</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,126</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(946</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,532</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,799</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9,820</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,189</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,428</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>443</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,991</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>43,655</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,135</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>38,972</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Contract benefits and expenses</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net benefits and claims</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(7,403</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>22,862</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>475</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Commissions, investment and general expenses</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>19</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,427</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,052</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,660</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;15,838</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other expenses</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>380</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>233</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(950</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,681</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total contract benefits and expenses</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>399</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;(3,743</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;38,932</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,135</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>33,453</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) before income taxes</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>44</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>752</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,723</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,519</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income tax (expense) recovery</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(11</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>223</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(844</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(632</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) after income taxes</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>33</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>975</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,879</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,887</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity in net income (loss) of unconsolidated subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,767</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,206</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,181</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8,154</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss)</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;4,800</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,181</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,060</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;(8,154</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,887</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss) attributed to:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>
 interests</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Participating policyholders</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(127</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(127</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Shareholders</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,191</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,973</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8,164</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,181</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,060</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8,154</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;4,887</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 12pt">
 <font color="#1F320C"><b>Condensed Consolidated Statement of
 Income</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="50%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">JHUSA<br />
 (Issuer)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Other<br />
 subsidiaries</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Consolidated<br />
 MFC</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gross premiums</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">8,561</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">22,895</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,905</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">36,361</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Premiums ceded to reinsurers</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,523</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(5,765</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(4,909</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(8,151</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net premium income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,084</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,130</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">28,210</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">178</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,986</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,947</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(744</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,367</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,874</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10,864</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(2,996</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10,746</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">182</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">21,944</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">39,941</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(3,744</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">58,323</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Contract benefits and expenses</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net benefits and claims</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">20,803</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,179</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(681</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">39,301</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Commissions, investment and general expenses</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,208</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,852</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,049</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,022</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other expenses</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">404</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">194</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,915</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(1,014</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,499</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total contract benefits and expenses</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">415</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;24,205</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;34,946</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(3,744</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">55,822</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) before income taxes</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(233</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,261</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,995</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,501</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income tax (expense) recovery</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">62</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,134</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(1,435</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(239</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) after income taxes</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(171</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,127</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,560</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,262</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity in net income (loss) of unconsolidated subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,275</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">628</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(486</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(2,417</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss)</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;2,104</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(499</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">3,074</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(2,417</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,262</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss) attributed to:</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>
 interests</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">194</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">194</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Participating policyholders</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(10</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(36</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(36</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Shareholders</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(489</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,916</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(2,427</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(499</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">3,074</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(2,417</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;2,262</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Consolidated Statement of Cash
 Flows</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="55%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">MFC</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(Guarantor)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">JHUSA</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(Issuer)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Other</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Consolidation</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">adjustments</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Consolidated</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">MFC</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Operating activities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;4,800</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;2,181</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;6,060</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(8,154</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,887</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Adjustments:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity in net income of unconsolidated subsidiaries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(4,767</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,206</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,181</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,154</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Increase (decrease) in insurance contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(5,273</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,180</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,907</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Increase (decrease) in investment contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(86</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>121</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>35</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 (Increase) decrease in reinsurance assets excluding coinsurance
 transactions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,609</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(716</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>893</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Amortization of (premium) discount on invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>58</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>154</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>212</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other amortization</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>225</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>518</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>747</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Net realized and unrealized (gains) losses and impairment on
 assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,158</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,580</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,727</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Deferred income tax expense (recovery)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>679</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>240</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>930</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Restructuring charge</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>43</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>113</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>156</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Stock option expense</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash provided by (used in) operating activities before undernoted
 items</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,388</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,079</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,504</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Dividends from unconsolidated subsidiary</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,700</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>405</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>777</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,882</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in policy related and operating receivables and
 payables</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>251</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(536</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(31</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(316</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) operating activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,988</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,257</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>17,825</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3,882</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>19,188</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Investing activities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Purchases and mortgage advances</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(38,799</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(62,373</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(101,172</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Disposals and repayments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,817</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>46,294</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>82,111</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in investment broker net receivables and payables</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(169</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>41</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(128</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment in common shares of subsidiaries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,284</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,284</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net cash decrease from purchase of subsidiaries and businesses</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>187</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>187</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital contribution to unconsolidated subsidiaries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return of capital from unconsolidated subsidiaries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes receivable from parent</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes receivable from subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(23</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(61</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>84</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) investing activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,307</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3,154</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(15,934</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,393</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(19,002</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financing activities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 (Decrease) increase in repurchase agreements and securities sold
 but not yet purchased</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(189</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(189</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redemption of long-term debt</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(400</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(400</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issue of capital instruments, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>597</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>597</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redemption of capital instruments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(450</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(450</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Secured borrowings from securitization transactions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in deposits from Bank clients, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,490</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,490</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Shareholders&#x2019; dividends paid in cash</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,788</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,788</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Dividends paid to parent</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(777</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,105</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,882</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Contributions from (distributions to) <font style="WHITE-SPACE: nowrap">non-controlling</font> interests, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(60</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(60</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Common shares repurchased</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(478</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(478</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Common shares issued, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>59</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,284</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,284</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>59</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Preferred shares issued, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital contributions by parent</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return of capital to parent</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes payable to parent</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>84</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(84</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes payable to subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>83</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) financing activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,682</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(777</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(754</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,489</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(724</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Increase (decrease) during the year</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,674</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,137</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(538</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Effect of foreign exchange rate changes on cash and short-term
 securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>353</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>468</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>822</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, beginning of year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,638</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>11,439</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>15,098</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, end of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,317</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,044</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>15,382</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Beginning of year</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross cash and short-term securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,133</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,811</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,965</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net payments in transit, included in other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(495</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(372</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(867</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net cash and short-term securities, beginning of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,638</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>11,439</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>15,098</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>End of year</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross cash and short-term securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,783</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,411</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,215</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net payments in transit, included in other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(466</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(367</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(833</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net cash and short-term securities, end of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,317</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,044</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;15,382</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Supplemental disclosures on cash flow information:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest received</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>427</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,381</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,074</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(930</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,952</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest paid</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>373</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>92</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,677</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(930</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,212</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income taxes paid</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(59</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>286</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>234</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>461</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Consolidated Statement of Cash
 Flows</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="55%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">MFC</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(Guarantor)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">JHUSA</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(Issuer)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Other</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Consolidation</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">adjustments</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Consolidated</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">MFC</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Operating activities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,104</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(499</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3,074</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(2,417</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,262</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Adjustments:</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity in net income of unconsolidated subsidiaries</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,275</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(628</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">486</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,417</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Increase (decrease) in insurance contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,877</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,146</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;20,023</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Increase (decrease) in investment contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">55</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">118</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">173</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 (Increase) decrease in reinsurance assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,890</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,159</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,269</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Amortization of (premium) discount on invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">24</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">206</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">230</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other amortization</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">123</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">433</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">560</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net realized and unrealized (gains) losses and impairment on
 assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,609</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4,572</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7,188</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deferred income tax expense (recovery)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(59</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,239</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,967</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(331</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Stock option expense</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(4</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">19</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">15</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash provided by (used in) operating activities before undernoted
 items</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(233</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9,210</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9,036</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,013</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Dividends from unconsolidated subsidiary</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;2,700</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">125</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,175</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4,000</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in policy related and operating receivables and
 payables</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(45</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(4,627</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4,450</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(222</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) operating activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,422</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">4,708</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">14,661</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(4,000</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">17,791</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Investing activities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Purchases and mortgage advances</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(30,645</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(56,579</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(87,224</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Disposals and repayments</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;26,952</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;43,768</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">70,720</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in investment broker net receivables and payables</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">182</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">45</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">227</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment in common shares of subsidiaries</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,473</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;2,473</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net cash decrease from purchase of subsidiaries and businesses</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(10</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(10</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital contribution to unconsolidated subsidiaries</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(63</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">63</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return of capital from unconsolidated subsidiaries</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(11</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes receivables from affiliates</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">201</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(201</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes receivable from parent</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">368</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">24</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(392</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes receivable from subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(16</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(10</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">26</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) investing activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(2,489</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(3,205</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(12,551</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">1,958</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(16,287</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financing activities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 (Decrease) increase in repurchase agreements and securities sold
 but not yet purchased</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(29</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(29</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redemption of long-term debt</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(600</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(607</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issue of capital instruments, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,209</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,209</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redemption of capital instruments</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(899</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(899</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Secured borrowings from securitization transactions</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">741</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">741</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in deposits from Bank clients, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">261</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">261</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Shareholders&#x2019; dividends paid in cash</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,780</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,780</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Contributions from (distributions to) <font style="WHITE-SPACE: nowrap">non-controlling</font> interests, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(6</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(6</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Common shares issued, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">124</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,473</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,473</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">124</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Dividends paid to parent</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,175</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,825</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital contributions by parent</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">63</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(63</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return of capital to parent</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(11</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes payable to affiliates</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(201</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">201</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes payable to parent</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">26</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(26</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes payable to subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(24</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(368</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">392</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) financing activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(71</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(1,376</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(581</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,042</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">14</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Increase (decrease) during the year</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(138</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">127</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,518</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Effect of foreign exchange rate changes on cash and short-term
 securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(276</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(380</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(658</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, beginning of year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">161</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">3,787</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10,290</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">14,238</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, end of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">21</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">3,638</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">11,439</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">15,098</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Beginning of year</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross cash and short-term securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">161</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,317</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,673</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,151</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net payments in transit, included in other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(530</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(383</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(913</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net cash and short-term securities, beginning of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">161</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">3,787</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">10,290</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">14,238</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>End of year</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross cash and short-term securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">21</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,133</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,811</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,965</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net payments in transit, included in other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(495</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(372</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(867</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net cash and short-term securities, end of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">21</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">3,638</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">11,439</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;15,098</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Supplemental disclosures on cash flow information:</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest received</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">273</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,391</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,504</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(572</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">10,596</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest paid</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">392</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">96</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,202</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(572</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,118</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income taxes paid</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">99</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">1,084</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">177</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">1,360</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for separate financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2018-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Section Objective<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=sect_Objective&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Text block [abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855871472">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Comparatives<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfComparativesExplanatory', window );">Comparatives</a></td>
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 <font color="#2A517F"><b>Note
 24&#xA0;&#xA0;&#xA0;&#xA0;Comparatives</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Certain comparative amounts have been reclassified to conform to
 the current year&#x2019;s presentation.</p>


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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855942608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>IFRS 7 Disclosures<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Market Risk Management
 Strategy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 Market risk management strategy is governed by the Global Asset
 Liability Committee which oversees the overall market and liquidity
 risk program. Our overall strategy to manage our market risks
 incorporates several component strategies, each targeted to manage
 one or more of the market risks arising from our businesses. At an
 enterprise level, these strategies are designed to manage our
 aggregate exposures to market risks against limits associated with
 earnings and capital volatility.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 The following table outlines our key market risks and identifies
 the risk management strategies which contribute to managing these
 risks.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
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 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font style="FONT-SIZE: 9pt" color="#1F320C"><b>Risk Management
 Strategy</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="18" align="center"><b>Key Market Risk</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"><b>Publicly<br />
 Traded&#xA0;Equity<br />
 Performance<br />
 Risk</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"><b>Interest&#xA0;Rate<br />
 and Spread<br />
 Risk</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"><b>Alternative<br />
 <font style="WHITE-SPACE: nowrap">Long-Duration</font><br />
 Asset<br />
 Performance<br />
 Risk</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"><b>Foreign<br />
 Exchange&#xA0;Risk</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right"><b>Liquidity&#xA0;Risk</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
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 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Product design and pricing</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
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 <td valign="bottom">&#xA0;&#xA0;</td>
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 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Variable annuity guarantee dynamic hedging</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Macro equity risk hedging</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asset liability management</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign exchange management</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Liquidity risk management</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
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 <font size="1">&#xA0;</font></td>
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 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
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 </tr>
 </table>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Product Design and Pricing
 Strategy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 Our policies, standards, and standards of practice with respect to
 product design and pricing are designed with the objective of
 aligning our product offerings with our risk taking philosophy and
 risk appetite, and in particular, that incremental risk generated
 from new sales aligns with our strategic risk objectives and risk
 limits. The specific design features of our product offerings,
 including level of benefit guarantees, policyholder options, fund
 offerings and availability restrictions as well as our associated
 investment strategies, help to mitigate the level of underlying
 risk. We regularly review and modify key features within our
 product offerings, including premiums and fee charges with a goal
 of meeting profit targets and staying within risk limits. Certain
 of our general fund adjustable benefit products have minimum rate
 guarantees. The rate guarantees for any particular policy are set
 at the time the policy is issued and governed by insurance
 regulation in each jurisdiction where the products are sold. The
 contractual provisions allow crediting rates to be <font style="WHITE-SPACE: nowrap">re-set</font> at <font style="WHITE-SPACE: nowrap">pre-established</font> intervals subject to
 the established minimum crediting rate guarantees. The Company may
 partially mitigate the interest rate exposure by setting new rates
 on new business and by adjusting rates on <font style="WHITE-SPACE: nowrap">in-force</font> business where permitted. In
 addition, the Company partially mitigates this interest rate risk
 through its asset liability management process, product design
 elements, and crediting rate strategies. New product initiatives,
 new reinsurance arrangements and material insurance underwriting
 initiatives must be reviewed and approved by the CRO or key
 individuals within risk management functions.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Hedging Strategies for Variable Annuity
 and Other Equity Risks</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 The Company&#x2019;s exposure to movement in public equity market
 values primarily arises from variable annuity guarantees and to a
 smaller extent from asset-based fees and general fund public equity
 holdings.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Dynamic hedging is the primary hedging strategy for variable
 annuity market risks. Dynamic hedging is employed for new variable
 annuity guarantees business when written or as soon as practical
 thereafter.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 We seek to manage public equity risk arising from other sources
 (not dynamically hedged) through our macro equity risk hedging
 strategy. We seek to manage interest rate risk arising from
 variable annuity business not dynamically hedged within our asset
 liability management strategy.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Variable Annuity Dynamic Hedging
 Strategy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 The variable annuity dynamic hedging strategy is designed to hedge
 the sensitivity of variable annuity guarantee policy liabilities
 and available capital to fund performance (both public equity and
 bond funds) and interest rate movements. The objective of the
 variable annuity dynamic hedging strategy is to offset, as closely
 as possible, the change in the economic value of guarantees with
 the profit and loss from our hedge asset portfolio. The economic
 value of guarantees moves in close tandem, but not exactly, with
 our variable annuity guarantee policy liabilities, as it reflects
 best estimate liabilities and does not include any liability
 provisions for adverse deviations.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 Our current variable annuity guarantee dynamic hedging approach is
 to short exchange-traded equity index and government bond futures
 and execute currency futures and lengthening interest rate swaps to
 hedge sensitivity of policy liabilities to fund performance and
 interest rate movements arising from variable annuity guarantees.
 We dynamically rebalance these hedge instruments as market
 conditions change, in order to maintain the hedged position within
 established limits. Other derivative instruments (such as equity
 and interest rate options) are also utilized and we may consider
 the use of additional hedge instruments opportunistically in the
 future.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 Our variable annuity guarantee dynamic hedging strategy is not
 designed to completely offset the sensitivity of policy liabilities
 to all risks associated with the guarantees embedded in these
 products. The profit (loss) on the hedge instruments will not
 completely offset the underlying losses (gains) related to the
 guarantee liabilities hedged because:</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Policyholder behaviour and mortality experience are
 not hedged;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Provisions for adverse deviation in the policy
 liabilities are not hedged;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">A portion of interest rate risk is not hedged;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Credit spreads may widen and actions might not be
 taken to adjust accordingly;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fund performance on a small portion of the underlying
 funds is not hedged due to lack of availability of effective
 exchange-traded hedge instruments;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Performance of the underlying funds hedged may differ
 from the performance of the corresponding hedge instruments;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Correlations between interest rates and equity markets
 could lead to unfavourable material impacts;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Unfavourable hedge rebalancing costs can be incurred
 during periods of high volatility from equity markets, bond markets
 and/or interest rates. The impact is magnified when these impacts
 occur concurrently; and</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Not all other risks are hedged.</p>
 </td>
 </tr>
 </table>
 </div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Macro Equity Risk Hedging
 Strategy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 The objective of the macro equity risk hedging program is to
 maintain our overall earnings sensitivity to public equity market
 movements within our Board approved risk appetite limits. The macro
 equity risk hedging program is designed to hedge earnings
 sensitivity due to movements in public equity markets arising from
 all sources (outside of dynamically hedged exposures). Sources of
 equity market sensitivity addressed by the macro equity risk
 hedging program include:</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Residual equity and currency exposure from variable
 annuity guarantees not dynamically hedged;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">General fund equity holdings backing <font style="WHITE-SPACE: nowrap">non-participating</font> liabilities; and</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Unhedged provisions for adverse deviation related to
 variable annuity guarantees dynamically hedged.</p>
 </td>
 </tr>
 </table>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Asset Liability Management
 Strategy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 Our asset liability management strategy is designed to help ensure
 that the market risks embedded in our assets and liabilities held
 in the Company&#x2019;s general fund are effectively managed and
 that risk exposures arising from these assets and liabilities are
 maintained within risk limits. The embedded market risks include
 risks related to the level and movement of interest rates and
 credit and swap spreads, public equity market performance, ALDA
 performance and foreign exchange rate movements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 General fund product liabilities are categorized into groups with
 similar characteristics in order to support them with a specific
 asset strategy. We seek to align the asset strategy for each group
 to the premium and benefit pattern, policyholder options and
 guarantees, and crediting rate strategies of the products they
 support. Similar strategies are established for assets in the
 Company&#x2019;s surplus account. The strategies are set using
 portfolio analysis techniques intended to optimize returns, subject
 to considerations related to regulatory and economic capital
 requirements, and risk tolerances. They are designed to achieve
 broad diversification across asset classes and individual
 investment risks while being suitably aligned with the liabilities
 they support. The strategies encompass asset mix, quality rating,
 term profile, liquidity, currency and industry concentration
 targets.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Foreign Exchange Risk Management
 Strategy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 Our policy is to generally match the currency of our assets with
 the currency of the liabilities they support. Where assets and
 liabilities are not currency matched, we seek to hedge this
 exposure where appropriate to stabilize our capital positions and
 remain within our enterprise foreign exchange risk limits through
 the use of financial instruments such as derivatives.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Liquidity Risk Management
 Strategy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 Global liquidity management policies and procedures are designed to
 provide adequate liquidity to cover cash and collateral obligations
 as they come due, and to sustain and grow operations in both normal
 and stressed conditions. They reflect legal, regulatory, tax,
 operational or economic impediments to inter-entity funding. The
 asset mix of our balance sheet takes into account the need to hold
 adequate unencumbered and appropriate liquid assets to satisfy the
 requirements arising under stressed scenarios and to allow our
 liquidity ratios to remain strong. We manage liquidity centrally
 and closely monitor the liquidity positions of our principal
 subsidiaries.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 We seek to mitigate liquidity risk by diversifying our business
 across different products, markets, geographical regions and
 policyholders. We design insurance products to encourage
 policyholders to maintain their policies <font style="WHITE-SPACE: nowrap">in-force,</font> to help generate a
 diversified and stable flow of recurring premium income. We design
 the policyholder termination features of our wealth management
 products and related investment strategies with the goal of
 mitigating the financial exposure and liquidity risk related to
 unexpected policyholder terminations. We establish and implement
 investment strategies intended to match the term profile of the
 assets to the liabilities they support, taking into account the
 potential for unexpected policyholder terminations and resulting
 liquidity needs. Liquid assets represent a large portion of our
 total assets. We aim to reduce liquidity risk in our deposit funded
 businesses by diversifying our funding sources and appropriately
 managing the term structure of our funding. We forecast and monitor
 daily operating liquidity and cash movements in various individual
 entities and operations as well as centrally, aiming to ensure
 liquidity is available and cash is employed optimally.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 We also maintain centralized cash pools and access to other sources
 of liquidity and contingent liquidity such as repurchase funding
 agreements. Our centralized cash pool consists of cash or
 near-cash, high quality short-term investments that are continually
 monitored for their credit quality and market liquidity.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 We have established a variety of contingent liquidity sources. We
 maintain a $500&#xA0;million committed unsecured revolving credit
 facility with certain Canadian chartered banks available for MFC,
 and a US$500&#xA0;million committed unsecured revolving credit
 facility with certain U.S. banks available for MFC and certain of
 its subsidiaries. There were no outstanding borrowings under these
 credit facilities as of December&#xA0;31, 2018. In addition, John
 Hancock (&#x201C;JH&#x201D;) USA is a member of the Federal Home Loan
 Bank of Indianapolis (&#x201C;FHLBI&#x201D;), which enables the
 Company to obtain loans from FHLBI as an alternative source of
 liquidity that is collaterizable by qualifying mortgage loans,
 mortgage-backed securities and U.S. Treasury and Agency securities.
 Based on regulatory limitations, as of December&#xA0;31, 2018,
 JHUSA had an estimated maximum borrowing capacity of
 US$3.8&#xA0;billion under the FHLBI facility, with no amounts
 outstanding.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 The following table outlines the maturity of the Company&#x2019;s
 significant financial liabilities.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Maturity of financial
 liabilities</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup> </font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="58%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Less than<br />
 1 year</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">1 to 3<br />
 years</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">3 to 5<br />
 years</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Over 5<br />
 years</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Long-term debt</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>681</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,088</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,769</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital instruments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,732</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,732</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivatives</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>359</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>229</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>227</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,988</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,803</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deposits from Bank clients<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,351</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,147</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,185</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,684</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Lease obligations</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>129</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>203</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>93</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>150</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>575</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The amounts shown above are net of the related
 unamortized deferred issue costs.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Carrying value and fair value of deposits from Bank
 clients as at December&#xA0;31, 2018 was $19,684&#xA0;million and
 $19,731&#xA0;million, respectively (2017 &#x2013;
 $18,131&#xA0;million and $18,149&#xA0;million, respectively). Fair
 value is determined by discounting contractual cash flows, using
 market interest rates currently offered for deposits with similar
 terms and conditions. All deposits from Bank clients were
 categorized in Level&#xA0;2 of the fair value hierarchy (2017
 &#x2013; Level&#xA0;2).</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 Through the normal course of business, pledging of assets is
 required to comply with jurisdictional regulatory and other
 requirements including collateral pledged to partially mitigate
 derivative counterparty credit risk, assets pledged to exchanges as
 initial margin and assets held as collateral for repurchase funding
 agreements. Total unencumbered assets were $427.9 billion as at
 December&#xA0;31, 2018 (2017 &#x2013; $396.8 billion).</p>
 </div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#2A517F"><b>Market Risk Sensitivities and Market Risk
 Exposure Measures</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 <font color="#1F320C"><b>Variable Annuity and Segregated Fund
 Guarantees Sensitivities and Risk Exposure Measures</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 Guarantees on variable annuity products and segregated funds may
 include one or more of death, maturity, income and withdrawal
 guarantees. Variable annuity and segregated fund guarantees are
 contingent and only payable upon the occurrence of the relevant
 event, if fund values at that time are below guaranteed values.
 Depending on future equity market levels, liabilities on current
 <font style="WHITE-SPACE: nowrap">in-force</font> business would be
 due primarily in the period from 2019 to 2039.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 We seek to mitigate a portion of the risks embedded in our retained
 (i.e. net of reinsurance) variable annuity and segregated fund
 guarantee business through the combination of our dynamic and macro
 hedging strategies (see &#x201C;Publicly Traded Equity Performance
 Risk&#x201D; below).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 The table below shows selected information regarding the
 Company&#x2019;s variable annuity and segregated fund
 investment-related guarantees gross and net of reinsurance.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Variable annuity and segregated fund
 guarantees, net of reinsurance</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="98%" align="center" border="0">
 <tr>
 <td width="51%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" rowspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" align="center">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center">2017</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Guarantee<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fund&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Amount&#xA0;at<br />
 risk<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="right">Guarantee<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="right">Fund&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="right">Amount<br />
 at&#xA0;risk<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Guaranteed minimum income benefit<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,264</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,675</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,593</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">5,201</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,195</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1,074</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Guaranteed minimum withdrawal benefit</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>60,494</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>49,214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,388</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">61,767</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">56,512</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,943</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Guaranteed minimum accumulation benefit</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18,611</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18,720</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>141</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">18,162</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">18,705</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">11</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross living benefits<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>84,369</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>71,609</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,122</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">85,130</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">79,412</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,028</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross death benefits<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,663</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14,654</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,567</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">10,743</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">16,973</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">1,001</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total gross of reinsurance</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;95,032</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;86,263</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;14,689</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">&#xA0;&#xA0;95,873</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">96,385</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">8,029</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Living benefits reinsured</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,515</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,173</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,343</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,522</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,667</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">911</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Death benefits reinsured</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,353</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,070</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>493</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">3,014</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">3,040</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">435</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total reinsured</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,868</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,243</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,836</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">7,536</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">6,707</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="right">1,346</td>
 <td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, net of reinsurance</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>88,164</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>81,020</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,853</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">88,337</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;89,678</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;6,683</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Contracts with guaranteed long-term care benefits are
 included in this category.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Where a policy includes both living and death
 benefits, the guarantee in excess of the living benefit is included
 in the death benefit category as outlined in footnote 3.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Death benefits include stand-alone guarantees and
 guarantees in excess of living benefit guarantees where both death
 and living benefits are provided on a policy.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Amount at risk <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">(in-the-money</font></font> amount) is the
 excess of guarantee values over fund values on all policies where
 the guarantee value exceeds the fund value. This amount is not
 currently payable. For guaranteed minimum death benefit, the amount
 at risk is defined as the current guaranteed minimum death benefit
 in excess of the current account balance. For guaranteed minimum
 income benefit, the amount at risk is defined as the excess of the
 current annuitization income base over the current account value.
 For all guarantees, the amount at risk is floored at zero at the
 single contract level.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The amount at risk net of reinsurance at
 December&#xA0;31, 2018 was $12,853&#xA0;million (2017 &#x2013;
 $6,683 million) of which: US$6,899&#xA0;million (2017 &#x2013;
 US$3,982 million) was on our U.S. business, $2,654&#xA0;million
 (2017 &#x2013; $1,342 million) was on our Canadian business,
 US$332&#xA0;million (2017 &#x2013; US$95 million) was on our Japan
 business and US$246&#xA0;million (2017 &#x2013; US$181 million) was
 related to Asia (other than Japan) and our <font style="WHITE-SPACE: nowrap">run-off</font> reinsurance business.</p>
 </td>
 </tr>
 </table>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Investment categories for variable
 contracts with guarantees</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 Variable contracts with guarantees, including variable annuities
 and variable life, are invested, at the policyholder&#x2019;s
 discretion subject to contract limitations, in various fund types
 within the segregated fund accounts and other investments. The
 account balances by investment category are set out below.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 ($ millions)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Investment category</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>43,528</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">47,508</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balanced funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>41,625</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47,369</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Bond funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,309</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,095</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Money market funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,107</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,905</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other fixed interest rate investments</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,997</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,777</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;101,566</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;111,654</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Caution Related to
 Sensitivities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 In the sections that follow, we provide sensitivities and risk
 exposure measures for certain risks. These include sensitivities
 due to specific changes in market prices and interest rate levels
 projected using internal models as at a specific date and are
 measured relative to a starting level reflecting the
 Company&#x2019;s assets and liabilities at that date and the
 actuarial factors, investment activity and investment returns
 assumed in the determination of policy liabilities. The risk
 exposures measure the impact of changing one factor at a time and
 assume that all other factors remain unchanged. Actual results can
 differ significantly from these estimates for a variety of reasons
 including the interaction among these factors when more than one
 changes; changes in actuarial and investment return and future
 investment activity assumptions; actual experience differing from
 the assumptions, changes in business mix, effective tax rates and
 other market factors; and the general limitations of our internal
 models. For these reasons, the sensitivities should only be viewed
 as directional estimates of the underlying sensitivities for the
 respective factors based on the assumptions outlined below. Given
 the nature of these calculations, we cannot provide assurance that
 the actual impact on net income attributed to shareholders</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 The table below shows the potential impact on net income attributed
 to shareholders resulting from an immediate 10%, 20% and 30% change
 in market values of publicly traded equities followed by a return
 to the expected level of growth assumed in the valuation of policy
 liabilities. If market values were to remain flat for an entire
 year, the potential impact would be roughly equivalent to an
 immediate decline in market values equal to the expected level of
 annual growth assumed in the valuation of policy liabilities.
 Further, if after market values dropped 10%, 20% or 30% they
 continued to decline, remained flat, or grew more slowly than
 assumed in the valuation the potential impact on net income
 attributed to shareholders could be considerably more than shown.
 Refer to &#x201C;Sensitivity of Earnings to Changes in
 Assumptions&#x201D; for more information on the level of growth
 assumed and on the net income sensitivity to changes in these
 long-term assumptions. The potential impact is shown after taking
 into account the impact of the change in markets on the hedge
 assets. While we cannot reliably estimate the amount of the change
 in dynamically hedged variable annuity guarantee liabilities that
 will not be offset by the profit or loss on the dynamic hedge
 assets, we make certain assumptions for the purposes of estimating
 the impact on net income attributed to shareholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 This estimate assumes that the performance of the dynamic hedging
 program would not completely offset the gain/loss from the
 dynamically hedged variable annuity guarantee liabilities. It
 assumes that the hedge assets are based on the actual position at
 the period end, and that equity hedges in the dynamic program are
 rebalanced at 5% intervals. In addition, we assume that the macro
 hedge assets are rebalanced in line with market changes.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 It is also important to note that these estimates are illustrative,
 and that the hedging program may underperform these estimates,
 particularly during periods of high realized volatility and/or
 periods where both interest rates and equity market movements are
 unfavourable.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 The Standards of Practice for the valuation of insurance contract
 liabilities and guidance published by the CIA constrain the
 investment return assumptions for public equities and certain ALDA
 assets based on historical return benchmarks for public equities.
 The potential impact on net income attributed to shareholders does
 not take into account possible changes to investment return
 assumptions resulting from the impact of declines in public equity
 market values on these historical return benchmarks.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Potential immediate impact on net income
 attributed to shareholders arising from changes to public equity
 returns</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1),(2),(3)</sup> </font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom"></td>
 <td width="56%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-30%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-20%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+20%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+30%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 <b>Underlying sensitivity to net income attributed to
 shareholders</b><font style="FONT-SIZE: 5pt"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(4)</sup></font></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Variable annuity guarantees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;(3,650</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;(2,240</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;(1,040</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;&#xA0;890</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;&#xA0;1,610</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;&#xA0;2,170</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Asset based fees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(480</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(320</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(160</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>160</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>320</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>480</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 General fund equity investments<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(5)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(1,150</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(780</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(390</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>290</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>580</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>860</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Total underlying sensitivity before hedging</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(5,280</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(3,340</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(1,590</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>1,340</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>2,510</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>3,510</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Impact of macro and dynamic hedge assets<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>3,110</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>1,940</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>910</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(820</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(1,450</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(1,930</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 <b>Net potential impact on net income attributed to shareholders
 after impact of hedging</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(2,170</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(1,400</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(680</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>520</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>1,060</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>1,580</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="2"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 As at December&#xA0;31, 2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-30%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-20%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+20%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+30%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top" colspan="8">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 <b>Underlying sensitivity to net income attributed to
 shareholders</b><font style="FONT-SIZE: 5pt"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(4)</sup></font></p>
 </td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: 0em">
 <font style="FONT-SIZE: 5pt"><b>&#xA0;</b></font></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Variable annuity guarantees</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(3,940</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(2,260</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(960</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">670</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">1,110</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">1,410</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Asset based fees</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(510</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(340</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(170</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">170</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">340</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">510</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 General fund equity investments<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(5)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(930</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(590</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(270</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">270</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">540</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">810</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Total underlying sensitivity before hedging</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(5,380</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(3,190</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(1,400</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">&#xA0;&#xA0;1,110</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">1,990</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">2,730</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Impact of macro and dynamic hedge assets<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">3,220</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">1,850</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">790</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(640</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">&#xA0;&#xA0;(1,100</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">&#xA0;&#xA0;(1,410</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net potential impact on net income attributed to shareholders
 after impact of hedging</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(2,160</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(1,340</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(610</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">470</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">890</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">1,320</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">See &#x201C;Caution Related to Sensitivities&#x201D;
 above.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The tables show the potential impact on net income
 attributed to shareholders resulting from an immediate 10%, 20% and
 30% change in market values of publicly traded equities followed by
 a return to the expected level of growth assumed in the valuation
 of policy liabilities.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Please refer to &#x201C;Sensitivity of Earnings to
 Changes in Assumptions&#x201D; for more information on the level of
 growth assumed and on the net income sensitivity to changes in
 these long-term assumptions.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Defined as earnings sensitivity to a change in public
 equity markets including settlements on reinsurance contracts, but
 before the offset of hedge assets or other risk mitigants.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">This impact for general fund equities is calculated as
 at a <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">point-in-time</font></font> and does not
 include: (i)&#xA0;any potential impact on public equity weightings;
 (ii)&#xA0;any gains or losses on AFS public equities held in the
 Corporate and Other segment; or (iii)&#xA0;any gains or losses on
 public equity investments held in Manulife Bank. The participating
 policy funds are largely self-supporting and generate no material
 impact on net income attributed to shareholders as a result of
 changes in equity markets.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes the impact of rebalancing equity hedges in
 the macro and dynamic hedging program. The impact of dynamic hedge
 rebalancing represents the impact of rebalancing equity hedges for
 dynamically hedged variable annuity guarantee best estimate
 liabilities at 5% intervals but does not include any impact in
 respect of other sources of hedge ineffectiveness (e.g. fund
 tracking, realized volatility and equity, interest rate
 correlations different from expected among other factors).</p>
 </td>
 </tr>
 </table>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Interest Rate and Spread Risk
 Sensitivities and Exposure Measures</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 At December&#xA0;31, 2018, we estimated the sensitivity of our net
 income attributed to shareholders to a 50 basis point parallel
 decline in interest rates to be a charge of $100&#xA0;million, and
 to a 50 basis point increase in interest rates to be a benefit of
 $100&#xA0;million.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The table below shows the potential impact on net income attributed
 to shareholders from a 50 basis point parallel move in interest
 rates. This includes a change of 50 basis points in current
 government, swap and corporate rates for all maturities across all
 markets with no change in credit spreads between government, swap
 and corporate rates, and with a floor of zero on government rates
 where government rates are not currently negative, relative to the
 rates assumed in the valuation of policy liabilities, including
 embedded derivatives. For variable annuity guarantee liabilities
 that are dynamically hedged, it is assumed that interest rate
 hedges are rebalanced at 20 basis point intervals.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 As the sensitivity to a 50 basis point change in interest rates
 includes any associated change in the applicable reinvestment
 scenarios, the impact of changes to interest rates for less than,
 or more than 50 basis points is unlikely to be linear. Furthermore,
 our sensitivities are not consistent across all regions in which we
 operate, and the impact of yield curve changes will vary depending
 upon the geography where the change occurs. Reinvestment
 assumptions used in the valuation of policy liabilities tend to
 amplify the negative effects of a decrease in interest rates and
 dampen the positive effects of interest rate increases. This is
 because the reinvestment assumptions used in the valuation of our
 insurance liabilities are based on interest rate scenarios and
 calibration criteria set by the Canadian Actuarial Standards Board,
 while our interest rate hedges are valued using current market
 interest rates. Therefore, in any particular quarter, changes to
 the reinvestment assumptions are not fully aligned to changes in
 current market interest rates especially when there is a
 significant change in the shape of the interest rate curve. As a
 result, the impact from <font style="WHITE-SPACE: nowrap">non-parallel</font> movements may be
 materially different from the estimated impact of parallel
 movements. For example, if long-term interest rates increase more
 than short-term interest rates (sometimes referred to as a
 steepening of the yield curve) in North America, the decrease in
 the value of our swaps may be greater than the decrease in the
 value of our insurance liabilities. This could result in a charge
 to net income attributed to shareholders in the short-term even
 though the rising and steepening of the yield curve, if sustained,
 may have a positive long-term economic impact.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The potential impact on net income attributed to shareholders does
 not take into account any future potential changes to our URR
 assumptions or calibration criteria for stochastic risk-free rates
 or other potential impacts of lower interest rate levels, for
 example, increased strain on the sale of new business or lower
 interest earned on our surplus assets. The impact also does not
 reflect any unrealized gains or losses on AFS fixed income assets
 held in our Corporate and Other segment. Changes in the market
 value of these assets may provide a natural economic offset to the
 interest rate risk arising from our product liabilities. In order
 for there to also be an accounting offset, the Company would need
 to realize a portion of the AFS fixed income asset unrealized gains
 or losses. It is not certain we would crystallize any of the
 unrealized gains or losses available.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 The impact does not reflect any potential effect of changing
 interest rates to the value of our ALDA assets. Rising interest
 rates could negatively impact the value of our ALDA assets (see
 &#x201C;Critical Accounting and Actuarial Policies &#x2013; Fair
 Value of Invested Assets&#x201D;, below). More information on ALDA
 can be found under the section &#x201C;Alternative Long-Duration
 Asset Performance Risk Sensitivities and Exposure Measures&#x201D;,
 below.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 The following table shows the potential impact on net income
 attributed to shareholders including the change in the market value
 of AFS fixed income assets held in our Corporate and Other segment,
 which could be realized through the sale of these assets.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders and MLI&#x2019;s LICAT total ratio of an immediate
 parallel change in interest rates relative to rates assumed in the
 valuation of policy liabilities</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1),(2),(3),(4)</sup>
 </font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td width="66%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="2%"></td>
 <td width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid" bgcolor="#E9EDF2">
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="6">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="9">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"><font style="FONT-SIZE: 7pt"><b>2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6" align="center"><font style="FONT-SIZE: 7pt">2017</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"><font style="FONT-SIZE: 7pt" color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">-50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">+50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">-50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">+50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income attributed to shareholders ($ millions)</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Excluding change in market value of AFS fixed income assets held in
 the Corporate and Other segment</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">(200</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">100</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 From fair value changes in AFS fixed income assets held in the
 Corporate and Other segment, if realized</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,600</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">1,100</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">(1,000</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top"><b>MLI&#x2019;s LICAT total ratio (Percentage
 points)</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 LICAT total ratio change in percentage points<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">See &#x201C;Caution Related to Sensitivities&#x201D;
 above. In addition, estimates exclude changes to the net actuarial
 gains/losses with respect to the Company&#x2019;s pension
 obligations as a result of changes in interest rates, as the impact
 on the quoted sensitivities is not considered to be material.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes guaranteed insurance and annuity products,
 including variable annuity contracts as well as adjustable benefit
 products where benefits are generally adjusted as interest rates
 and investment returns change, a portion of which have minimum
 credited rate guarantees. For adjustable benefit products subject
 to minimum rate guarantees, the sensitivities are based on the
 assumption that credited rates will be floored at the minimum.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The amount of gain or loss that can be realized on AFS
 fixed income assets held in the Corporate and Other segment will
 depend on the aggregate amount of unrealized gain or loss.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Sensitivities are based on projected asset and
 liability cash flows and the impact of realizing fair value changes
 in AFS fixed income is based on the holdings at the end of the
 period.</p>
 </td>
 </tr>
 </table>
 </div>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -1%">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. The LICAT
 ratio is not applicable before January 1, 2018.</p>
 </td>
 </tr>
 </table>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 The following tables show the potential impact on net income
 attributed to shareholders resulting from a change in corporate
 spreads and swap spreads over government bond rates for all
 maturities across all markets with a floor of zero on the total
 interest rate, relative to the spreads assumed in the valuation of
 policy liabilities.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders and MLI&#x2019;s LICAT total ratio arising from
 changes to corporate spreads and swap
 spreads</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1),(2),(3)</sup> </font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td width="72%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid" bgcolor="#E9EDF2">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"><b>Corporate
 spreads<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"><font color="#1F320C"><b>As at
 December&#xA0;31,</b></font>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income attributed to shareholders ($ millions)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(600</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;600</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;(1,000</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;1,000</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 MLI&#x2019;s LICAT total ratio (change percentage points)<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"><b>(6</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"><b>6</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"><b>Swap spreads</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"><font color="#1F320C"><b>As at
 December&#xA0;31,</b></font>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income attributed to shareholders ($ millions)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="top">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;100</b></td>
 <td bgcolor="#DDE0DA" valign="top" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;400</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;(400</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 MLI&#x2019;s LICAT total ratio (change percentage points)<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"><b>nil</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"><b>nil</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; BORDER-TOP: rgb(233,237,242) 1px solid; BORDER-RIGHT: rgb(233,237,242) 1px solid; BORDER-BOTTOM: rgb(233,237,242) 1px solid; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BORDER-LEFT: rgb(233,237,242) 1px solid; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%; border-image: none">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">See &#x201C;Caution Related to Sensitivities&#x201D;
 above.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impact on net income attributed to shareholders
 assumes no gains or losses are realized on our AFS fixed income
 assets held in the Corporate and Other segment and excludes the
 impact of changes in segregated fund bond values due to changes in
 credit spreads. The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes in corporate and
 swap spreads.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Sensitivities are based on projected asset and
 liability cash flows.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Corporate spreads are assumed to grade to the
 long-term average over five years.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">As the sensitivity to a 50 basis point decline in
 corporate spreads includes the impact of a change in deterministic
 reinvestment scenarios where applicable, the impact of changes to
 corporate spreads for less than, or more than, the amounts
 indicated are unlikely to be linear.</p>
 </td>
 </tr>
 </table>
 </div>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -1%">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. Under
 LICAT, spread movements are determined from a selection of
 investment grade bond indices with BBB and better bonds for each
 jurisdiction. For LICAT, we use the following indices: FTSE TMX
 Canada All Corporate Bond Index, Barclays USD Liquid Investment
 Grade Corporate Index, and Nomura-BPI (Japan). The LICAT ratio is
 not applicable before January 1, 2018.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 &#xA0;</p>
 </div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Alternative Long-Duration Asset
 Performance Risk Sensitivities and Exposure Measures</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 The following table shows the potential impact on net income
 attributed to shareholders resulting from an immediate 10% change
 in market values of ALDA followed by a return to the expected level
 of growth assumed in the valuation of policy liabilities. If market
 values were to remain flat for an entire year, the potential impact
 would be roughly equivalent to an immediate decline in market
 values equal to the expected level of annual growth assumed in the
 valuation of policy liabilities. Further, if after market values
 dropped 10% they continued to decline, remained flat, or grew more
 slowly than assumed in the valuation of policy liabilities, the
 potential impact on net income attributed to shareholders could be
 considerably more than shown. Refer to &#x201C;Sensitivity of
 Earnings to Changes in Assumptions&#x201D; below, for more
 information on the level of growth assumed and on the net income
 sensitivity to changes in these long-term assumptions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 ALDA includes commercial real estate, timber and farmland real
 estate, oil and gas direct holdings, and private equities, some of
 which relate to oil and gas.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders arising from changes in ALDA
 returns</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1),(2),(3),(4),(5),(6)
 </sup></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom"></td>
 <td width="70%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" rowspan="2">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" rowspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="center"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="center">2017</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate, agriculture and timber assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;(1,300</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;1,200</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;(1,300</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;1,300</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private equities and other ALDA</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,600</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,600</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" align="right">(1,500</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" align="right">1,400</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 <b>Alternative long-duration assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;&#xA0;&#xA0;(2,900</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;&#xA0;&#xA0;2,800</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">&#xA0;&#xA0;&#xA0;&#xA0;(2,800</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">&#xA0;&#xA0;&#xA0;&#xA0;2,700</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 </table>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">See &#x201C;Caution Related to Sensitivities&#x201D;
 above.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">This impact is calculated as at a <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">point-in-time</font></font> impact and does
 not include: (i)&#xA0;any potential impact on ALDA weightings or
 (ii)&#xA0;any gains or losses on ALDA held in the Corporate and
 Other segment.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes in ALDA returns.
 For some classes of ALDA, where there is not an appropriate
 long-term benchmark available, the return assumptions used in
 valuation are not permitted by the Standards of Practice and CIA
 guidance to result in a lower reserve than an assumption based on a
 historical return benchmark for public equities in the same
 jurisdiction.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Net income impact does not consider any impact of the
 market correction on assumed future return assumptions.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Please refer to &#x201C;Sensitivity of Earnings to
 Changes in Assumptions&#x201D; below, for more information on the
 level of growth assumed and on the net income sensitivity to
 changes in these long-term assumptions.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impact of changes to the portfolio asset mix
 supporting our North American legacy business are reflected in the
 sensitivities when the changes take place.</p>
 </td>
 </tr>
 </table>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Foreign Exchange Risk Sensitivities and
 Exposure Measures</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 We generally match the currency of our assets with the currency of
 the insurance and investment contract liabilities they support,
 with the objective of mitigating risk of loss arising from currency
 exchange rate changes. As at December&#xA0;31, 2018, we did not
 have a material unmatched currency exposure.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 14px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Liquidity Risk Exposure
 Measures</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 We manage liquidity levels of the consolidated group and key
 subsidiaries against established thresholds. We measure liquidity
 under both immediate (within one month) and ongoing (within one
 year) stress scenarios. Our policy is to maintain the ratio of
 assets to liabilities, both adjusted for their liquidity values,
 above the <font style="WHITE-SPACE: nowrap">pre-established</font>
 limit.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 Increased use of derivatives for hedging purposes has necessitated
 greater emphasis on measurement and management of contingent
 liquidity risk related to these instruments, in particular the
 movement of <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">&#x201C;over-the-counter&#x201D;</font></font>
 derivatives to central clearing in the U.S. and Japan places an
 emphasis on cash as the primary source of liquidity as opposed to
 security holdings. The market value of our derivative portfolio is
 therefore regularly stress tested to assess the potential
 collateral and cash settlement requirements under various market
 conditions.</p>
 </div>


 </div><span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments - Disclosures under IFRS 7.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872615840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Nature of Operations and Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForReportingEntityExplanatory', window );">Reporting entity</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 <font color="#1F320C"><b>(a) Reporting entity</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Manulife Financial Corporation (&#x201C;MFC&#x201D;) is a publicly
 traded company and the holding company of The Manufacturers Life
 Insurance Company (&#x201C;MLI&#x201D;), a Canadian life insurance
 company. MFC and its subsidiaries (collectively,
 &#x201C;Manulife&#x201D; or the &#x201C;Company&#x201D;) is a leading
 financial services group with principal operations in Asia, Canada
 and the United States. Manulife&#x2019;s international network of
 employees, agents and distribution partners offers financial
 protection and wealth management products and services to personal
 and business clients as well as asset management services to
 institutional customers. The Company operates as Manulife in Canada
 and Asia and as John Hancock in the United States.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 MFC is domiciled in Canada and incorporated under the Insurance
 Companies Act (Canada) (&#x201C;ICA&#x201D;). These Consolidated
 Financial Statements have been prepared in accordance with
 International Financial Reporting Standards (&#x201C;IFRS&#x201D;) as
 issued by the International Accounting Standards Board
 (&#x201C;IASB&#x201D;).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 These Consolidated Financial Statements should be read in
 conjunction with &#x201C;Risk Management&#x201D; in the 2018
 Management&#x2019;s Discussion and Analysis (&#x201C;MD&amp;A&#x201D;)
 dealing with IFRS 7 &#x201C;Financial Instruments:
 Disclosures&#x201D; as the discussion on market risk and liquidity
 risk includes certain disclosures that are considered an integral
 part of these Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 These Consolidated Financial Statements as at and for the year
 ended December&#xA0;31, 2018 were authorized for issue by
 MFC&#x2019;s Board of Directors on February&#xA0;13, 2019.</p>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForBasisOfPreparationExplanatory', window );">Basis of preparation</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(b) Basis of preparation</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The preparation of Consolidated Financial Statements in conformity
 with IFRS requires management to make judgments, estimates and
 assumptions that affect the application of accounting policies and
 the reported amounts of assets and liabilities, and the disclosure
 of contingent assets and liabilities as at the date of the
 Consolidated Financial Statements, and the reported amounts of
 revenue and expenses during the reporting periods. Actual results
 may differ from these estimates. The most significant estimation
 processes relate to assumptions used in measuring insurance and
 investment contract liabilities, assessing assets for impairment,
 determining of pension and other post-employment benefit obligation
 and expense assumptions, determining income taxes and uncertain tax
 positions and fair valuation of certain invested assets. Estimates
 and underlying assumptions are reviewed on an ongoing basis.
 Revisions to accounting estimates are recognized in the year in
 which the estimates are revised and in any future years affected.
 Although some variability is inherent in these estimates,
 management believes that the amounts recorded are appropriate. The
 significant accounting policies used and the most significant
 judgments made by management in applying these accounting policies
 in the preparation of these Consolidated Financial Statements are
 summarized below.</p>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory', window );">Fair value measurement</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(c) Fair value measurement</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Fair value is defined as the price that would be received to sell
 an asset or paid to transfer a liability in an orderly transaction
 (not a forced liquidation or distress sale) between market
 participants at the measurement date, that is, an exit value.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 When available, quoted market prices are used to determine fair
 value. If quoted market prices are not available, fair value is
 typically based upon alternative valuation techniques such as
 discounted cash flows, matrix pricing, consensus pricing services
 and other techniques. Broker quotes are generally used when
 external public vendor prices are not available.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The Company has a process in place that includes a review of price
 movements relative to the market, a comparison of prices between
 vendors, and a comparison to internal matrix pricing which uses
 predominately external observable data. Judgment is applied in
 adjusting external observable data for items including liquidity
 and credit factors.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The Company categorizes its fair value measurements according to a
 three-level hierarchy. The hierarchy prioritizes the inputs used by
 the Company&#x2019;s valuation techniques. A level is assigned to
 each fair value measurement based on the lowest level input
 significant to the fair value measurement in its entirety. The
 three levels of the fair value hierarchy are defined as
 follows:</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Level&#xA0;1 &#x2013; Fair value measurements that reflect
 unadjusted, quoted prices in active markets for identical assets
 and liabilities that the Company can access at the measurement date
 reflecting market transactions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Level&#xA0;2 &#x2013; Fair value measurements using inputs other
 than quoted prices included within Level&#xA0;1 that are observable
 for the asset or liability, either directly or indirectly. These
 include quoted prices for similar assets and liabilities in active
 markets, quoted prices for identical or similar assets and
 liabilities in inactive markets, inputs that are observable that
 are not prices (such as interest rates, credit risks, etc.) and
 inputs that are derived from or corroborated by observable market
 data. Most debt securities are classified within Level&#xA0;2.
 Also, included in the Level&#xA0;2 category are derivative
 instruments that are priced using models with observable market
 inputs, including interest rate swaps, equity swaps, and foreign
 currency forward contracts.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Level&#xA0;3 &#x2013; Fair value measurements using significant
 <font style="WHITE-SPACE: nowrap">non-market</font> observable
 inputs. These include valuations for assets and liabilities that
 are derived using data, some or all of which is not market
 observable, including assumptions about risk. Level&#xA0;3
 securities include less liquid securities such as structured
 asset-backed securities, commercial mortgage-backed securities
 (&#x201C;CMBS&#x201D;), certain long-duration bonds and other
 securities that have little or no price transparency. Certain
 derivative financial instruments and investment properties are also
 included in Level&#xA0;3.</p>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory', window );">Basis of consolidation</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b><br class="Apple-interchange-newline" />
 (d) Basis of consolidation</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 MFC consolidates the financial statements of all entities,
 including certain structured entities that it controls.
 Subsidiaries are entities controlled by the Company. The Company
 has control over an entity when the Company has the power to govern
 the financial and operating policies of the entity, is exposed to
 variable returns from its activities which are significant in
 relation to the total variable returns of the entity and the
 Company is able to use its power over the entity to affect its
 share of variable returns. In assessing control, significant
 judgment is applied while considering all relevant facts and
 circumstances. When assessing decision-making power, the Company
 considers the extent of its rights relative to the management of an
 entity, the level of voting rights held in an entity which are
 potentially or presently exercisable, the existence of any
 contractual management agreements which may provide the Company
 with power over an entity&#x2019;s financial and operating policies
 and to the extent of other parties&#x2019; ownership in an entity,
 if any, the possibility for de facto control being present. When
 assessing returns, the Company considers the significance of direct
 and indirect financial and&#xA0;<font style="WHITE-SPACE: nowrap">non-financial</font>&#xA0;variable
 returns to the Company from an entity&#x2019;s activities in
 addition to the proportionate significance of such returns. The
 Company also considers the degree to which its interests are
 aligned with those of other parties investing in an entity and the
 degree to which it may act in its own interest.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The financial statements of subsidiaries are included in
 MFC&#x2019;s consolidated results from the date control is
 established and are excluded from consolidation from the date
 control ceases. The initial control assessment is performed at
 inception of the Company&#x2019;s involvement with the entity and is
 reconsidered at a later date if the Company acquires or loses power
 over key operating and financial policies of the entity; acquires
 additional interests or disposes of interests in the entity; the
 contractual arrangements of the entity are amended such that the
 Company&#x2019;s proportionate exposure to variable returns changes;
 or if the Company&#x2019;s ability to use its power to affect its
 variable returns from the entity changes.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s Consolidated Financial Statements have been
 prepared using uniform accounting policies for like transactions
 and events in similar circumstances. Intercompany balances, and
 income and expenses arising from intercompany transactions, have
 been eliminated in preparing the Consolidated Financial
 Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>&#xA0;interests
 are interests of other parties in the equity of MFC&#x2019;s
 subsidiaries and are presented within total equity, separate from
 the equity of MFC&#x2019;s
 shareholders.&#xA0;<font style="WHITE-SPACE: nowrap">Non-controlling</font>&#xA0;interests
 in the net income and other comprehensive income
 (&#x201C;OCI&#x201D;) of MFC&#x2019;s subsidiaries are included in
 total net income and total OCI, respectively. An exception to this
 occurs where the subsidiary&#x2019;s shares are required to be
 redeemed for cash on a fixed or determinable date, in which case
 other parties&#x2019; interests in the subsidiary&#x2019;s capital
 are presented as liabilities of the Company and other
 parties&#x2019;&#xA0;<font style="WHITE-SPACE: nowrap">non-controlling</font>&#xA0;interests
 in the subsidiary&#x2019;s income and OCI are recorded as expenses
 of the Company.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The equity method of accounting is used to account for entities
 over which the Company has significant influence
 (&#x201C;associates&#x201D; or &#x201C;joint ventures&#x201D;), whereby
 the Company records its share of the associate&#x2019;s or joint
 venture&#x2019;s net assets and financial results using uniform
 accounting policies for similar transactions and events.
 Significant judgment is used to determine whether voting rights,
 contractual management and other relationships with the entity, if
 any, provide the Company with significant influence or joint
 control over the entity. Gains and losses on the sale of associates
 or joint ventures are included in income when realized, while
 impairment losses are recognized immediately when there is
 objective evidence of impairment. Gains and losses on commercial
 transactions with associates or joint ventures are eliminated to
 the extent of the Company&#x2019;s interest in the associate or
 joint venture. Investments in associates or joint ventures are
 included in other invested assets on the Company&#x2019;s
 Consolidated Statements of Financial Position.</p>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForInvestedAssetsExplanatory', window );">Invested assets</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(e) Invested assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Invested assets that are considered financial instruments are
 classified as fair value through profit or loss
 (&#x201C;FVTPL&#x201D;), loans and receivables, or
 as&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">available-for-sale</font></font>&#xA0;(&#x201C;AFS&#x201D;)
 financial assets. The Company determines the classification of its
 financial assets at initial recognition. Invested assets are
 recognized initially at fair value plus, in the case of investments
 not at FVTPL, directly attributable transaction costs. Invested
 assets are classified as financial instruments at FVTPL if they are
 held for trading, if they are designated by management under the
 fair value option, or if they are designated by management when
 they include one or more embedded derivatives. Invested assets
 classified as AFS are&#xA0;<font style="WHITE-SPACE: nowrap">non-derivative</font>&#xA0;financial
 assets that do not fall into any of the other categories described
 above.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Valuation methods for the Company&#x2019;s invested assets are
 described above. All fair value valuations are performed in
 accordance with IFRS 13 &#x201C;Fair Value Measurement&#x201D;.
 Disclosure of financial instruments carried at fair value with the
 three levels of the fair value hierarchy and the disclosure of the
 fair value for financial instruments not carried at fair value on
 the Consolidated Statements of Financial Position are presented in
 note 3. Fair value valuations are performed by the Company and by
 third-party service providers. When third-party service providers
 are engaged, the Company performs a variety of procedures to
 corroborate pricing information. These procedures may include, but
 are not limited to, inquiry and review of valuation techniques,
 inputs to the valuation and vendor controls reports.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Cash and short-term securities comprise of cash, current operating
 accounts, overnight bank and term deposits, and fixed income
 securities held for meeting short-term cash commitments. Short-term
 securities are carried at fair value. Short-term securities are
 comprised of investments due to mature within one year of the date
 of purchase. Commercial paper and discount notes are classified as
 Level&#xA0;2 because these securities are typically not actively
 traded. Net payments in transit and overdraft bank balances are
 included in other liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Debt securities are carried at fair value. Debt securities are
 generally valued by independent pricing vendors using proprietary
 pricing models incorporating current market inputs for similar
 instruments with comparable terms and credit quality (matrix
 pricing). The significant inputs include, but are not limited to,
 yield curves, credit risks and spreads, measures of volatility and
 prepayment rates. These debt securities are classified as
 Level&#xA0;2 but can be Level&#xA0;3 if significant inputs are
 market unobservable. Realized gains and losses on sale of debt
 securities and unrealized gains and losses on debt securities
 designated as FVTPL are recognized in investment income
 immediately. Unrealized gains and losses on AFS debt securities are
 recorded in OCI, except for unrealized gains and losses on foreign
 currency translation which are included in income. Impairment
 losses on AFS debt securities are recognized in income on an
 individual security basis when there is objective evidence of
 impairment. Impairment is considered to have occurred, based on
 management&#x2019;s judgment, when it is deemed probable that the
 Company will not be able to collect all amounts due according to
 the debt security&#x2019;s contractual terms.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Equities are comprised of common and preferred equities and are
 carried at fair value. Equities are generally classified as
 Level&#xA0;1, as fair values are normally based on quoted market
 prices. Realized gains and losses on sale of equities and
 unrealized gains and losses on equities designated as FVTPL are
 recognized in investment income immediately. Unrealized gains and
 losses on AFS equities are recorded in OCI. Impairment losses on
 AFS equities are recognized in income on an individual security
 basis when there is objective evidence of impairment. Impairment is
 considered to have occurred when fair value has declined below cost
 by a significant amount or for a prolonged period of time. Judgment
 is applied in determining whether the decline is significant or
 prolonged.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Mortgages are carried at amortized cost and are classified as
 Level&#xA0;3 for fair value purposes due to the lack of market
 observability of certain significant valuation inputs. Realized
 gains and losses are recorded in investment income immediately.
 Impairment losses are recorded on mortgages when there is no longer
 reasonable assurance as to the timely collection of the full amount
 of principal and interest and are measured based on the discounted
 value of expected future cash flows at the original effective
 interest rates inherent in the mortgage. Expected future cash flows
 of impaired mortgages are typically determined with reference to
 the fair value of collateral security underlying the mortgage, net
 of expected costs of realization and any applicable insurance
 recoveries. Significant judgment is applied in the determination of
 impairment including the timing and amount of future
 collections.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company accounts for insured and uninsured mortgage
 securitizations as secured financing transactions since the
 criteria for sale accounting are not met. For these transactions,
 the Company continues to recognize the mortgages and records a
 liability in other liabilities for the amounts owed at maturity.
 Interest income from these mortgages and interest expense on the
 borrowings are recorded using the effective interest rate
 method.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Private placements, which include corporate loans for which there
 is no active market, are carried at amortized cost and are
 generally classified as Level&#xA0;2 for fair value disclosure
 purposes or as Level&#xA0;3 if significant inputs are market
 unobservable. Realized gains and losses are recorded in income
 immediately. Impairment losses are recorded on private placements
 when there is no longer assurance as to the timely collection of
 the full amount of principal and interest. Impairment is measured
 based on the discounted value of expected future cash flows at the
 original effective interest rate inherent in the loan. Significant
 judgment is applied in the determination of impairment including
 the timing and amount of future collections.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Policy loans are carried at an amount equal to their unpaid
 balances and are classified as Level&#xA0;2 for fair value
 disclosure purposes. Policy loans are fully collateralized by the
 cash surrender value of the underlying policies.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Loans to Manulife Bank of Canada (&#x201C;Manulife Bank&#x201D; or
 &#x201C;Bank&#x201D;) clients are carried at amortized cost, and are
 classified as Level&#xA0;2 for fair value disclosure purposes. A
 loan to a Bank client is considered impaired when there is
 objective evidence of impairment because of one or more loss events
 that have occurred after initial recognition, with a negative
 impact on the estimated future cash flows of the loan.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Once established, allowances for impairment of mortgages, private
 placements and loans to Bank clients are reversed only if the
 conditions that caused the impairment no longer exist. Reversals of
 impairment charges on AFS debt securities are only recognized in
 income to the extent that increases in fair value can be attributed
 to events after the impairment loss being recorded. Impairment
 losses for AFS equity instruments are not reversed through income.
 On disposition of an impaired asset, any allowance for impairment
 is released.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In addition to impairments and provisions for loan losses
 (recoveries) reported in investment income, the measurement of
 insurance contract liabilities, via investment return assumptions,
 includes expected future credit losses on fixed income investments.
 Refer to note 7(d).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Interest income is recognized on debt securities, mortgages,
 private placements, policy loans and loans to Bank clients as it
 accrues and is calculated using the effective interest rate method.
 Premiums, discounts and transaction costs are amortized over the
 life of the underlying investment using the effective yield method
 for all debt securities as well as mortgages and private placements
 measured at amortized cost.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company records purchases and sales of invested assets on a
 trade date basis, except for loans originated by the Company, which
 are recognized on a settlement date basis.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Real estate consists of both own use and investment property. Own
 use property is carried at cost less accumulated depreciation and
 any accumulated impairment losses. Depreciation is calculated based
 on the cost of an asset less its residual value and is recognized
 in income on a straight-line basis over the estimated useful life
 ranging from 30 to 60 years. Impairment losses are recorded in
 income to the extent the recoverable amount is less than the
 carrying amount. Where own use property is included in assets
 backing insurance contract liabilities, the fair value of the
 property is used in the valuation of insurance contract
 liabilities. Own use property is classified as Level&#xA0;3 for
 fair value disclosure purposes.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 An investment property is a property held to earn rental income,
 for capital appreciation, or both. Investment properties are
 measured at fair value, with changes in fair value recognized in
 income. Fair value is determined using external appraisals that are
 based on the highest and best use of the property. The valuation
 techniques used include discounted cash flows, the direct
 capitalization method as well as comparable sales analysis and
 include both observable and unobservable inputs. Inputs include
 existing and assumed tenancies, market data from recent comparable
 transactions, future economic outlook and market risk assumptions,
 capitalization rates and internal rates of return. Investment
 properties are classified as Level&#xA0;3 for fair value disclosure
 purposes.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 When a property changes from own use to investment property, any
 gain arising on the remeasurement of the property to fair value at
 the date of transfer is recognized in OCI, to the extent that it is
 not reversing a previous impairment loss. Reversals of impairment
 losses are recognized in income.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Other invested assets include private equity and property
 investments held in power and infrastructure and timber, as well as
 in agriculture and oil and gas sectors. Private equity investments
 are accounted for as associates using the equity method (as
 described in note 1(d) above) or are classified as FVTPL or AFS and
 carried at fair value. Investments in oil and gas exploration and
 evaluation activities are measured on the cost basis using the
 &#x201C;successful efforts&#x201D; method. Timber and agriculture
 properties are measured at fair value with changes in fair value
 recognized in income, except for buildings, equipment and bearer
 plants which are measured at amortized cost. The fair value of
 other invested assets is determined using a variety of valuation
 techniques as described in note 3. Other invested assets that are
 measured or disclosed at fair value are classified as
 Level&#xA0;3.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Other invested assets also include investments in leveraged leases,
 which are accounted for using the equity method. The carrying value
 under the equity method reflects the amortized cost of the lease
 receivable and related&#xA0;<font style="WHITE-SPACE: nowrap">non-recourse</font>&#xA0;debt
 using the effective yield method.</p>


 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory', window );">Goodwill and intangible assets</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 <font color="#1F320C"><b>(f) Goodwill and intangible
 assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Goodwill represents the difference between the purchase
 consideration of an acquired business and the Company&#x2019;s
 proportionate share of the net identifiable assets acquired. It is
 initially recorded at cost and subsequently measured at cost less
 any accumulated impairment.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Goodwill is tested for impairment at least annually and whenever
 events or changes in circumstances indicate that the carrying
 amounts may not be recoverable at the cash generating unit
 (&#x201C;CGU&#x201D;) or group of CGUs level. The Company allocates
 goodwill to CGUs or groups of CGUs for impairment testing based on
 the lowest level within the entity in which the goodwill is
 monitored for internal management purposes. The allocation is made
 to those CGUs or groups of CGUs that are expected to benefit from
 the business combination in which the goodwill arose. Any potential
 impairment of goodwill is identified by comparing the recoverable
 amount of a CGU or group of CGUs to its carrying value. Goodwill is
 reduced by the amount of deficiency, if any. If the deficiency
 exceeds the carrying amount of goodwill, the carrying values of the
 remaining assets in the CGU or group of CGUs are subject to being
 reduced by the excess on a <font style="WHITE-SPACE: nowrap">pro-rata</font> basis.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The recoverable amount of a CGU is the higher of the estimated fair
 value less costs to sell or the <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">value-in-use</font></font> of the CGU. In
 assessing <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">value-in-use,</font></font> estimated future
 cash flows are discounted using a <font style="WHITE-SPACE: nowrap">pre-tax</font> discount rate that reflects
 current market assessments of the time value of money and the risks
 specific to the asset. In some cases, the most recent detailed
 calculation made in a prior period of the recoverable amount of a
 CGU is used in the testing of impairment of goodwill in the current
 period. This is the case only if there are no significant changes
 to the CGU, the likelihood of impairment is remote based on the
 analysis of current events and circumstances, and the most recent
 recoverable amount substantially exceeds the carrying amount of the
 CGU.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Intangible assets with indefinite useful lives include the John
 Hancock brand name and certain investment management contracts. The
 indefinite useful life assessment for brand is based on the brand
 name being protected in markets where branded products are sold by
 trademarks, which are renewable indefinitely, and for certain
 investment management contracts due to the ability to renew these
 contracts indefinitely. In addition, there are no legal, regulatory
 or contractual provisions that limit the useful lives of these
 intangible assets. An intangible asset with an indefinite useful
 life is not amortized but is subject to an annual impairment test
 which is performed more frequently if there is an indication that
 it is not recoverable.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Intangible assets with finite useful lives include acquired
 distribution networks, customer relationships, capitalized
 software, certain investment management contracts and other
 contractual rights. Distribution networks, customer relationships,
 and other finite life intangible assets are amortized over their
 estimated useful lives, six to 68 years, either based on
 straight-line or in relation to other asset consumption metrics.
 Software intangible assets are amortized on a straight-line basis
 over their estimated useful lives of three to five years. Finite
 life intangible assets are assessed for indicators of impairment at
 each reporting period. If any indication of impairment exists,
 these assets are subject to an impairment test.</p>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForMiscellaneousAssetsExplanatory', window );">Miscellaneous assets</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(g) Miscellaneous assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Miscellaneous assets include assets held in a rabbi trust with
 respect to unfunded defined benefit obligations, defined benefit
 assets, if any (refer to note 1(o)), deferred acquisition costs and
 capital assets. Deferred acquisition costs are carried at cost less
 accumulated amortization. These costs are recognized over the
 period where redemption fees may be charged or over the period
 revenue is earned. Capital assets are carried at cost less
 accumulated amortization computed on a straight-line basis over
 their estimated useful lives, which vary from two to 10 years.</p>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForSegregatedFundsExplanatory', window );">Segregated funds</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(h) Segregated funds</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company manages several segregated funds on behalf of
 policyholders. The investment returns on these funds are passed
 directly to policyholders. In some cases, the Company has provided
 guarantees associated with these funds.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Segregated funds net assets are measured at fair value and
 primarily include investments in mutual funds, debt securities,
 equities, cash, short-term investments and other investments. With
 respect to the consolidation requirement of IFRS, in assessing the
 Company&#x2019;s degree of control over the underlying investments,
 the Company considers the scope of its decision-making rights, the
 rights held by other parties, its remuneration as an investment
 manager and its exposure to variability of returns. The Company has
 determined that it does not have control over the underlying
 investments as it acts as an agent on behalf of segregated fund
 policyholders.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The methodology applied to determine the fair value of investments
 held in segregated funds is consistent with that applied to
 invested assets held by the general fund, as described above in
 note 1(e). Segregated funds liabilities are measured based on the
 value of the segregated funds net assets. Investment returns on
 segregated funds assets belong to policyholders and the Company
 does not bear the risk associated with these assets outside of
 guarantees offered on certain variable life and annuity products,
 for which the underlying investments are held within segregated
 funds. Accordingly, investment income earned by segregated funds
 and expenses incurred by segregated funds are offset and are not
 separately presented in the Consolidated Statements of Income. Fee
 income earned by the Company for managing the segregated funds is
 included in other revenue.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Liabilities related to guarantees associated with certain
 segregated funds, as a result of certain variable life and annuity
 contracts, are recorded within the Company&#x2019;s insurance
 contract liabilities. The Company holds assets supporting these
 guarantees which are recognized in invested assets according to
 their investment type.</p>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts', window );">Insurance and investment contract liabilities</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(i) Insurance and investment contract
 liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Most contracts issued by the Company are considered insurance,
 investment or service contracts. Contracts under which the Company
 accepts significant insurance risk from a policyholder are
 classified as insurance contracts in the Consolidated Financial
 Statements. A contract is considered to have significant insurance
 risk if, and only if, an insured event could cause an insurer to
 make significant additional payments in any scenario, excluding
 scenarios that lack commercial substance at the inception of the
 contract. Contracts under which the Company does not accept
 significant insurance risk are either classified as investment
 contracts or considered service contracts and are accounted for in
 accordance with IAS 39<i>&#xA0;&#x201C;</i>Financial
 Instruments: Recognition and
 Measurement<i>&#x201D;</i>&#xA0;or IFRS 15
 &#x201C;Revenue from Contracts with customers&#x201D;,
 respectively.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Once a contract has been classified as an insurance contract it
 remains an insurance contract even if the insurance risk reduces
 significantly. Investment contracts can be reclassified as
 insurance contracts if insurance risk subsequently becomes
 significant.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Insurance contract liabilities, net of reinsurance assets,
 represent the amount which, together with estimated future premiums
 and net investment income, will be sufficient to pay estimated
 future benefits, policyholder dividends and refunds, taxes (other
 than income taxes) and expenses on
 policies&#xA0;<font style="WHITE-SPACE: nowrap">in-force.</font>&#xA0;Insurance
 contract liabilities are presented gross of reinsurance assets on
 the Consolidated Statements of Financial Position. The
 Company&#x2019;s Appointed Actuary is responsible for determining
 the amount of insurance contract liabilities in accordance with
 standards established by the Canadian Institute of Actuaries.
 Insurance contract liabilities, net of reinsurance assets, have
 been determined using the Canadian Asset Liability Method
 (&#x201C;CALM&#x201D;) as permitted by IFRS 4 &#x201C;Insurance
 Contracts&#x201D;. Refer to note 7.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Investment contract liabilities include contracts issued to retail
 and institutional investors that do not contain significant
 insurance risk. Investment contract liabilities and deposits are
 measured at amortized cost or at fair value by election. The
 election reduces accounting mismatches between assets supporting
 these contracts and the related policy liabilities. Investment
 contract liabilities are derecognized when the contract expires, is
 discharged or is cancelled.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Derivatives embedded within insurance contracts are separated if
 they are not considered to be closely related to the host insurance
 contract and do not meet the definition of an insurance contract.
 These embedded derivatives are presented separately in other assets
 or other liabilities and are measured at fair value with changes in
 fair value recognized in income.</p>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory', window );">Reinsurance assets</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(j) Reinsurance assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company uses reinsurance in the normal course of business to
 manage its risk exposure. Insurance ceded to a reinsurer does not
 relieve the Company from its obligations to policyholders. The
 Company remains liable to its policyholders for the portion
 reinsured to the extent that any reinsurer does not meet its
 obligations for reinsurance ceded to it under a reinsurance
 agreement.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Reinsurance assets represent the benefit derived from reinsurance
 agreements <font style="WHITE-SPACE: nowrap">in-force</font> at the
 reporting date, considering the financial condition of the
 reinsurer. Amounts recoverable from reinsurers are estimated in
 accordance with the terms of the relevant reinsurance contract.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Gains or losses on reinsurance transactions are recognized in
 income immediately on the transaction date and are not amortized.
 Premiums ceded and claims reimbursed are presented on a gross basis
 on the Consolidated Statements of Income. Reinsurance assets are
 not offset against the related insurance contract liabilities and
 are presented separately on the Consolidated Statements of
 Financial Position. Refer to note 7(a).</p>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory', window );">Other financial instruments accounted for as liabilities</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(k) Other financial instruments accounted
 for as liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company issues a variety of other financial instruments
 classified as liabilities, including notes payable, term notes,
 senior notes, senior debentures, subordinated notes, surplus notes,
 subscription receipts and preferred shares. These financial
 liabilities are measured at amortized cost, with issuance costs
 deferred and amortized using the effective interest rate
 method.</p>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory', window );">Income taxes</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>(l) Income taxes</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The provision for income taxes is calculated based on income tax
 laws and income tax rates substantively enacted as at the date of
 the Consolidated Statements of Financial Position. The income tax
 provision is comprised of current income taxes and deferred income
 taxes. Current and deferred income taxes relating to items
 recognized in OCI and directly in equity are similarly recognized
 in OCI and directly in equity, respectively.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Current income taxes are amounts expected to be payable or
 recoverable for the current year and any adjustments to taxes
 payable in respect of previous years.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Deferred income taxes are provided for using the liability method
 and result from temporary differences between the carrying values
 of assets and liabilities and their respective tax bases. Deferred
 income taxes are measured at the substantively enacted tax rates
 that are expected to be applied to temporary differences when they
 reverse.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 A deferred tax asset is recognized to the extent that future
 realization of the tax benefit is probable. Deferred tax assets are
 reviewed at each reporting date and are reduced to the extent that
 it is no longer probable that the tax benefit will be realized.
 Deferred tax assets and liabilities are offset if there is a
 legally enforceable right to offset current tax liabilities and
 assets and they relate to income taxes levied by the same tax
 authority on the same taxable entity.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Deferred tax liabilities are recognized for all taxable temporary
 differences, except in respect of taxable temporary differences
 associated with investments in subsidiaries, associates and joint
 ventures, where the timing of the reversal of the temporary
 differences can be controlled and it is probable that the temporary
 differences will not reverse in the foreseeable future.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The Company records provisions for uncertain tax positions if it is
 probable that the Company will make a payment on tax positions due
 to examinations by tax authorities. These provisions are measured
 at the Company&#x2019;s best estimate of the amount expected to be
 paid. Provisions are reversed to income in the period in which
 management assesses they are no longer required or determined by
 statute.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The Company is subject to income tax laws in various jurisdictions.
 Tax laws are complex and potentially subject to different
 interpretations by the taxpayer and the relevant tax authority. The
 provision for income taxes and deferred income taxes represents
 management&#x2019;s interpretation of the relevant tax laws and its
 estimate of current and future income tax implications of the
 transactions and events during the year. The Company may be
 required to change its provision for income taxes or deferred
 income tax balances when the ultimate deductibility of certain
 items is successfully challenged by taxing authorities, or if
 estimates used in determining the amount of deferred tax asset to
 recognize change significantly, or when receipt of new information
 indicates the need for adjustment in the amount of deferred income
 taxes to be recognized. Additionally, future events, such as
 changes in tax laws, tax regulations, or interpretations of such
 laws or regulations, could have an impact on the provision for
 income taxes, deferred tax balances and the effective tax rate. Any
 such changes could materially affect the amounts reported in the
 Consolidated Financial Statements in the period these changes
 occur.</p>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory', window );">Foreign currency translation</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(m) Foreign currency
 translation</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Items included in the financial statements of each of the
 Company&#x2019;s subsidiaries are measured by each subsidiary using
 the currency of the primary economic environment in which the
 entity operates (the &#x201C;functional currency&#x201D;).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Transactions in a foreign currency are translated to the functional
 currency at the exchange rate prevailing at the date of the
 transaction. Assets and liabilities denominated in foreign
 currencies are translated to the functional currency at the
 exchange rate in effect at the reporting date. Revenue and expenses
 denominated in foreign currencies are translated at the average
 exchange rate prevailing during the quarter reported. Exchange
 gains and losses are recognized in income except for translation of
 net investments in foreign operations and the results of hedging
 these positions. These foreign exchange gains and losses are
 recognized in OCI until such time that the foreign operation is
 disposed of or control or significant influence over it is
 lost.</p>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory', window );">Stock-based compensation</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(n) Stock-based
 compensation</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company provides stock-based compensation to certain employees
 and directors as described in note 15. Compensation expense of
 equity instruments is accrued based on the best estimate of the
 number of instruments expected to vest, with revisions made to that
 estimate if subsequent information indicates that actual
 forfeitures are likely to differ from initial estimates, unless
 forfeitures are due to market-based conditions.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Stock options are expensed with a corresponding increase in
 contributed surplus. Restricted share units and deferred share
 units are expensed with a corresponding liability accrued based on
 the market value of MFC&#x2019;s common shares at the end of each
 quarter. Performance share units are expensed with a corresponding
 liability accrued based on specific performance conditions and the
 market value of MFC&#x2019;s common shares at the end of each
 quarter. The change in the value of the awards resulting from
 changes in the market value of MFC&#x2019;s common shares or changes
 in the specific performance conditions and credited dividends is
 recognized in income, offset by the impact of total return swaps
 used to manage the variability of the related liability.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Stock-based compensation cost is recognized over the applicable
 vesting period, except if the employee is eligible to retire at the
 time of grant or will be eligible to retire during the vesting
 period. Compensation cost, attributable to stock options,
 restricted share units, and performance share units granted to
 employees who are eligible to retire on the grant date or who will
 become eligible to retire during the vesting period, is recognized
 at the grant date or over the period from the grant date to the
 date of retirement eligibility, respectively.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company&#x2019;s contributions to the Global Share Ownership
 Plan (&#x201C;GSOP&#x201D;) (refer to note 15(d)), are expensed as
 incurred. Under the GSOP, subject to certain conditions, the
 Company will match a percentage of an employee&#x2019;s eligible
 contributions to certain maximums. All contributions are used by
 the plan&#x2019;s trustee to purchase MFC common shares in the open
 market.</p>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory', window );">Employee future benefits</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(o) Employee future
 benefits</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company maintains defined contribution and defined benefit
 pension plans and other post-employment plans for employees and
 agents including registered (tax qualified) pension plans that are
 typically funded as well as supplemental <font style="WHITE-SPACE: nowrap">non-registered</font> <font style="WHITE-SPACE: nowrap">(non-qualified)</font> pension plans for
 executives, retiree and disability welfare plans that are typically
 not funded.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The Company&#x2019;s obligation in respect of defined benefit
 pension and other post-employment benefits is calculated for each
 plan as the estimated present value of future benefits that
 eligible employees have earned in return for their service up to
 the reporting date using the projected benefit method. The discount
 rate used is based on the yield, as at the reporting date, of high
 quality corporate debt securities that have approximately the same
 term as the obligations and that are denominated in the same
 currency in which the benefits are expected to be paid.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 To determine the Company&#x2019;s net defined benefit asset or
 liability, the fair value of plan assets is deducted from the
 defined benefit obligations. When this calculation results in a
 surplus, the asset that can be recognized is limited to the present
 value of future economic benefit available in the form of future
 refunds from the plan or reductions in future contributions to the
 plan (the asset limit). Defined benefit assets are included in
 other assets and defined benefit liabilities are included in other
 liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Changes in the net defined benefit asset or liability due to
 <font style="WHITE-SPACE: nowrap">re-measurement</font> of pension
 and retiree welfare plans are recorded in OCI in the period in
 which they occur and are not reclassified to income in subsequent
 periods. They consist of actuarial gains and losses, the impact of
 the asset limit, if any, and the return on plan assets, excluding
 amounts included in net interest income or expense. Changes in the
 net defined benefit asset or liability due to <font style="WHITE-SPACE: nowrap">re-measurement</font> of disability welfare
 plans are recorded in income in the period in which they occur.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The cost of defined benefit pension plans is recognized over the
 employee&#x2019;s years of service to retirement while the cost of
 retiree welfare plans is recognized over the employee&#x2019;s years
 of service to their date of full eligibility. The net benefit cost
 for the year is recorded in income and is calculated as the sum of
 the service cost in respect of the fiscal year, the net interest
 income or expense and any applicable administration expenses, plus
 past service costs or credits resulting from plan amendments or
 curtailments. The net interest income or expense is determined by
 applying the discount rate to the net defined benefit asset or
 liability. The current year cost of disability welfare plans is the
 year-over-year change in the defined benefit obligation, including
 any actuarial gains or losses.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The cost of defined contribution plans is the contribution provided
 by the Company and is recorded in income in the periods during
 which services are rendered by employees.</p>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory', window );">Derivative and hedging instruments</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(p) Derivative and hedging
 instruments</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company uses derivative financial instruments
 (&#x201C;derivatives&#x201D;) including swaps, forward and futures
 agreements, and options to manage current and anticipated exposures
 to changes in interest rates, foreign exchange rates, commodity
 prices and equity market prices, and to replicate permissible
 investments. Derivatives embedded in other financial instruments
 are separately recorded as derivatives when their economic
 characteristics and risks are not closely related to those of the
 host instrument, the terms of the embedded derivative are the same
 as those of a standalone derivative and the host instrument itself
 is not recorded at FVTPL. Derivatives are recorded at fair value.
 Derivatives with unrealized gains are reported as derivative assets
 and derivatives with unrealized losses are reported as derivative
 liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 A determination is made for each derivative as to whether to apply
 hedge accounting. Where hedge accounting is not applied, changes in
 the fair value of derivatives are recorded in investment income.
 Refer to note 3(c).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Where the Company has elected to apply hedge accounting, a hedging
 relationship is designated and documented at inception. Hedge
 effectiveness is evaluated at inception and throughout the term of
 the hedge. Hedge accounting is only applied when the Company
 expects that the hedging relationship will be highly effective in
 achieving offsetting changes in fair value or changes in cash flows
 attributable to the risk being hedged. The assessment of hedge
 effectiveness is performed at the end of each reporting period both
 prospectively and retrospectively. When it is determined that a
 hedging relationship is no longer effective, or the hedging
 instrument or the hedged item has been sold or terminated, the
 Company discontinues hedge accounting prospectively. In such cases,
 if the derivatives are not sold or terminated, any subsequent
 changes in fair value of the derivatives are recognized in
 investment income.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 For derivatives that are designated as hedging instruments, changes
 in fair value are recognized according to the nature of the risks
 being hedged, as discussed below.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In a fair value hedging relationship, changes in fair value of the
 hedging instruments are recorded in investment income, offsetting
 changes in fair value of the hedged items, which would otherwise
 not be carried at fair value. Hedge ineffectiveness is recognized
 in investment income and arises from differences between changes in
 the fair values of hedging instruments and hedged items. When hedge
 accounting is discontinued, the carrying value of the hedged item
 is no longer adjusted and the cumulative fair value adjustments are
 amortized to investment income over the remaining term of the
 hedged item unless the hedged item is sold, at which time the
 balance is recognized immediately in investment income.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In a cash flow hedging relationship, the effective portion of the
 change in the fair value of the hedging instrument is recorded in
 OCI while the ineffective portion is recognized in investment
 income. Gains and losses in accumulated other comprehensive income
 (AOCI) are recognized in income during the same periods as the
 variability in the hedged cash flows or the hedged forecasted
 transactions are recognized in income. The reclassifications from
 AOCI are made to investment income, except for total return swaps
 that hedge restricted share units, which are reclassified to
 general expenses.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Gains and losses on cash flow hedges in AOCI are reclassified
 immediately to investment income when the hedged item is sold or
 the forecasted transaction is no longer expected to occur. When a
 hedge is discontinued, but the hedged forecasted transaction
 remains highly probable to occur, the amounts in AOCI are
 reclassified to investment income in the periods during which
 variability in the cash flows hedged or the hedged forecasted
 transaction is recognized in income.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In a net investment in foreign operations hedging relationship,
 gains and losses relating to the effective portion of the hedge are
 recorded in OCI. Gains and losses in AOCI are recognized in income
 during the periods when gains or losses on the underlying hedged
 net investment in foreign operations are recognized in income.</p>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory', window );">Premium income and related expenses</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(q) Premium income and related
 expenses</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Gross premiums for all types of insurance contracts, and contracts
 with limited mortality or morbidity risk, are generally recognized
 as revenue when due. Premiums are reported gross of reinsurance
 ceded (refer to note 7).</p>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue', window );">Revenue from service contracts</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(r) Revenue from service
 contracts</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company recognizes revenue from service contracts in accordance
 with IFRS 15.&#xA0;The Company&#x2019;s service contracts generally
 impose single performance obligations, each consisting of a series
 of similar related services for each customer.&#xA0;Revenue is
 recorded as performance obligations are satisfied over time because
 the customers simultaneously receive and consume the benefits of
 the services rendered, measured using an output method. Revenue for
 variable consideration is recognized to the extent that it is
 highly probable that a significant reversal in the amount of
 cumulative revenue recognized will not occur when the uncertainty
 is subsequently resolved.&#xA0;Refer to Note 14.</p>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForChangeInAccountingPolicyExplanatory', window );">Changes in accounting policy</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(a) Changes in accounting
 policy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(I) IFRS 15 &#x201C;Revenue from Contracts
 with Customers&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company adopted IFRS 15
 &#x201C;Revenue from Contracts with Customers&#x201D; which was
 issued In May 2014, and replaces IAS 11 &#x201C;Construction
 Contracts,&#x201D; IAS 18 &#x201C;Revenue&#x201D; and several
 interpretations. Amendments to IFRS 15 were issued in April 2016.
 IFRS 15 clarifies revenue recognition principles, provides a robust
 framework for recognizing revenue and cash flows arising from
 contracts with customers and enhances qualitative and quantitative
 disclosure requirements. IFRS 15 does not apply to insurance
 contracts, financial instruments and lease contracts. The Company
 adopted IFRS 15 using the modified retrospective method with no
 restatement of comparative information.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company&#x2019;s service arrangements are generally satisfied
 over time, with revenue measured and collected from customers
 within a short term, as services are rendered.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Adoption of IFRS 15 did not have a significant impact or result in
 transitional adjustments on the Company&#x2019;s Consolidated
 Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(II) IFRS 9 &#x201C;Financial
 Instruments&#x201D; and Amendments to IFRS 4 &#x201C;Insurance
 Contracts&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company adopted the amendments
 to IFRS 4 &#x201C;Insurance Contracts&#x201D; issued in September
 2016. IFRS 9 &#x201C;Financial Instruments&#x201D; replaced IAS 39
 &#x201C;Financial Instruments: Recognition and Measurement&#x201D;
 and resulted in revisions to classification and measurement,
 impairment of financial assets, and hedge accounting.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 To address concerns about differing effective dates of IFRS 9
 &#x201C;Financial Instruments&#x201D; which is effective on
 January&#xA0;1, 2018 and IFRS 17 &#x201C;Insurance Contracts&#x201D;
 which is effective on January&#xA0;1, 2021, amendments to IFRS 4
 &#x201C;Insurance Contracts&#x201D; provides companies whose
 activities are predominantly related to insurance an optional
 temporary exemption from applying IFRS 9 until January&#xA0;1,
 2021. Adoption of these amendments enabled the Company to defer the
 adoption of IFRS 9 and continue to apply IAS 39 until
 January&#xA0;1,&#xA0;2021.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In November 2018, the IASB tentatively decided to defer the fixed
 expiry date for the temporary exemption in IFRS 4 from applying
 IFRS 9 by one year for companies whose activities are predominantly
 related to insurance. MFC&#x2019;s activities are predominantly
 related to insurance. The proposed deferral is subject to IASB
 public consultation in 2019 which is expected to result in an
 exposure draft followed by a public comment period. The Company
 will continue to monitor IASB&#x2019;s future developments related
 to the deferral.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In order to compare with entities applying IFRS 9, the amendments
 to IFRS 4 require deferring entities to disclose additional
 information regarding the contractual cashflows characteristics and
 credit exposure of their financial statements. Deferring entities
 must disclose which financial assets have contractual terms that
 are solely payments of principal and interest on principal
 outstanding (&#x201C;SPPI&#x201D;). Adoption of these disclosure
 requirements did not have a significant impact on the
 Company&#x2019;s Consolidated Financial Statements. Refer to
 note&#xA0;3(a).</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(III) Amendments to IFRS 2
 &#x201C;Share-Based Payment&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company adopted amendments to
 IFRS 2 &#x201C;Share-Based Payment&#x201D;, issued in June 2016.
 These amendments were applied prospectively. The amendments clarify
 the effects of vesting and&#xA0;<font style="WHITE-SPACE: nowrap">non-vesting</font>&#xA0;conditions
 on the measurement of cash-settled share-based payments; provide
 guidance on the classification of share-based payment transactions
 with net settlement features for withholding tax obligations; and
 clarify accounting for modification to the terms and conditions of
 a share-based payment that changes the classification of the
 transaction from cash-settled to equity-settled. Adoption of these
 amendments did not have a significant impact on the Company&#x2019;s
 Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(IV) IFRIC 22 &#x201C;Foreign Currency
 Transactions and Advance Consideration&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company adopted IFRIC 22
 &#x201C;Foreign Currency Transactions and Advance
 Consideration&#x201D;, issued in December 2016. IFRIC 22 was applied
 prospectively. IFRIC 22 addresses which foreign exchange rate to
 use to measure a foreign currency transaction when advance payments
 are made or received and&#xA0;<font style="WHITE-SPACE: nowrap">non-monetary</font>&#xA0;assets
 or liabilities are recognized prior to recognition of the
 underlying transaction. IFRIC 22 does not relate to goods or
 services accounted for at fair value or at the fair value of
 consideration paid or received at a date other than the date of
 initial recognition of the&#xA0;<font style="WHITE-SPACE: nowrap">non-monetary</font>&#xA0;asset
 or liability, or to income taxes, insurance contracts or
 reinsurance contracts. The foreign exchange rate on the day of the
 advance payment is used to measure the foreign currency
 transaction. If multiple advance payments are made or received,
 each payment is measured separately. Adoption of IFRIC 22 did not
 have a significant impact on the Company&#x2019;s Consolidated
 Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(V) Annual improvements to IFRS Standards
 2014-2016 Cycle</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Effective January&#xA0;1, 2018, the Company adopted amendments
 issued within the Annual Improvements to IFRS Standards 2014-2016
 Cycle, as issued by the IASB in December 2016. Minor amendments as
 part of this cycle were effective in 2017 and were adopted by the
 Company in that year, with remaining amendments being effective
 January&#xA0;1, 2018. The amendments were applied retrospectively.
 Adoption of these amendments did not have a significant impact on
 the Company&#x2019;s Consolidated Financial Statements.</p>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForFutureAccountingAndReportingChangesExplanatory', window );">Future accounting and reporting changes</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(b) Future accounting and reporting
 changes</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(I) IFRS 9 &#x201C;Financial
 Instruments&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRS 9 &#x201C;Financial Instruments&#x201D; was issued in November
 2009 and amended in October 2010, November 2013 and July 2014, and
 is effective for years beginning on or after January&#xA0;1, 2018,
 to be applied retrospectively, or on a modified retrospective
 basis. Additionally, the IASB issued amendments in October 2017
 that are effective for annual periods beginning on or after
 January&#xA0;1, 2019. The standard is intended to replace IAS 39
 &#x201C;Financial Instruments: Recognition and
 Measurement&#x201D;.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The project has been divided into three phases: classification and
 measurement, impairment of financial assets, and hedge accounting.
 IFRS 9&#x2019;s current classification and measurement methodology
 provides that financial assets are measured at either amortized
 cost or fair value on the basis of the entity&#x2019;s business
 model for managing the financial assets and the contractual cash
 flow characteristics of the financial assets. The classification
 and measurement for financial liabilities remains generally
 unchanged; however, for a financial liability designated as at fair
 value through profit or loss, revisions have been made in the
 accounting for changes in fair value attributable to changes in the
 credit risk of that liability. Gains or losses caused by changes in
 an entity&#x2019;s own credit risk on such liabilities are no longer
 recognized in profit or loss but instead are reflected in OCI.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Revisions to hedge accounting were issued in November 2013 as part
 of the overall IFRS 9 project. The amendment introduces a new hedge
 accounting model, together with corresponding disclosures about
 risk management activity for those applying hedge accounting. The
 new model represents a substantial overhaul of hedge accounting
 that will enable entities to better reflect their risk management
 activities in their financial statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Revisions issued in July 2014 replace the existing incurred loss
 model used for measuring the allowance for credit losses with an
 expected loss model. Changes were also made to the existing
 classification and measurement model designed primarily to address
 specific application issues raised by early adopters of the
 standard. They also address the income statement accounting
 mismatches and short-term volatility issues which have been
 identified as a result of the insurance contracts project.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company elected to defer IFRS 9 until January&#xA0;1, 2021 as
 allowed under the amendments to IFRS 4 &#x201C;Insurance
 Contracts&#x201D; outlined above. The Company is assessing the
 impact of this standard.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(II) IFRS 16
 &#x201C;Leases&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRS 16 &#x201C;Leases&#x201D; was issued in January 2016 and is
 effective for years beginning on or after January&#xA0;1, 2019. It
 will replace IAS 17 &#x201C;Leases&#x201D; and IFRIC 4
 &#x201C;Determining whether an arrangement contains a lease&#x201D;.
 The Company will adopt IFRS 16 effective January&#xA0;1,&#xA0;2019,
 on a modified retrospective basis with no restatement of
 comparative information.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRS 16 sets out the principles for the recognition, measurement,
 presentation and disclosure of leases for both parties to a
 contract. The standard brings most
 leases&#xA0;<font style="WHITE-SPACE: nowrap">on-balance</font>&#xA0;sheet for
 lessees under a single model, eliminating the previous
 classifications of operating and finance leases. Exemptions to this
 treatment are for lease contracts with low value assets or leases
 with duration of less than one year.
 The&#xA0;<font style="WHITE-SPACE: nowrap">on-balance</font>&#xA0;sheet
 treatment will result in a grossing up of the balance sheet due
 to&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">right-of-use</font></font>&#xA0;assets
 being recognized with offsetting liabilities. Lessor accounting
 will remain largely unchanged with previous classifications of
 operating and finance leases being maintained.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Adoption of IFRS 16 is not expected to have a significant impact on
 the Company&#x2019;s Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(III) IFRS Interpretation Committee
 (&#x201C;IFRIC&#x201D;) Interpretation 23 &#x201C;Uncertainty over
 Income Tax Treatments&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRIC 23 &#x201C;Uncertainty over Income Tax Treatments&#x201D; was
 issued in June 2017 and is effective for years beginning on or
 after January&#xA0;1,&#xA0;2019, to be applied retrospectively.
 IFRIC 23 provides guidance on applying the recognition and
 measurement requirements in IAS 12 when there is uncertainty over
 income tax treatments including whether uncertain tax treatments
 should be considered together or separately based on which approach
 better predicts resolution of the uncertainty. Adoption of IFRIC 23
 is not expected to have a significant impact on the Company&#x2019;s
 Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(IV) Amendments to IAS 28
 &#x201C;Investments in Associates and Joint
 Ventures&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Amendments to IAS 28 &#x201C;Investments in Associates and Joint
 Ventures&#x201D; were issued in October 2017 and are effective for
 annual periods beginning on or after January&#xA0;1, 2019, to be
 applied retrospectively. The amendments clarify that an entity
 applies IFRS 9 &#x201C;Financial Instruments&#x201D; to financial
 interests in an associate or joint venture to which the equity
 method is not applied. IAS 39 will be applied to these interests
 until IFRS 9 is adopted. Adoption of these amendments is not
 expected to have a significant impact on the Company&#x2019;s
 Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(V) Annual Improvements 2015&#x2013;2017
 Cycle</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Annual Improvements 2015 &#x2013; 2017 Cycle was issued in December
 2017 and is effective for years beginning on or after
 January&#xA0;1,&#xA0;2019. The IASB issued three minor amendments
 to different standards as part of the Annual Improvements process,
 with the amendments to be applied prospectively. Adoption of these
 amendments is not expected to have significant impact on the
 Company&#x2019;s Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(VI) Amendments to IAS 19 &#x201C;Employee
 Benefits&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Amendments to IAS 19 &#x201C;Employee Benefits&#x201D; were issued in
 February 2018 and are effective for annual periods beginning on or
 after January&#xA0;1, 2019, with earlier application permitted. The
 amendments address the accounting for a plan amendment, curtailment
 or settlement that occurs within a reporting period. Updated
 actuarial assumptions must be used to determine current service
 cost and net interest for the remainder of the reporting period
 after such an event.&#xA0;The amendments also address how the
 accounting for asset ceilings are affected by such an
 event.&#xA0;Adoption of these amendments is not expected to have a
 significant impact on the Company&#x2019;s Consolidated Financial
 Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(VII) Amendments to IFRS 3 &#x201C;Business
 Combinations&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Amendments to IFRS 3 &#x201C;Business Combinations&#x201D; were
 issued in October 2018 and are effective for business combinations
 occurring on or after January&#xA0;1, 2020, with earlier
 application permitted. The amendments revise the definition of a
 business and provide a simplified assessment of whether an acquired
 set of activities and assets qualifies as a business. Application
 of the amendments are expected to result in fewer acquisitions
 qualifying as business combinations. Adoption of these amendments
 is not expected to have a significant impact on the Company&#x2019;s
 Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(VIII) Amendments to IAS 1
 &#x201C;Presentation of Financial Statements&#x201D; and IAS 8
 &#x201C;Accounting Policies, Changes in Accounting Estimates and
 Errors&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Amendments to IAS 1 &#x201C;Presentation of Financial
 Statements&#x201D; and IAS 8 &#x201C;Accounting Policies, Changes in
 Accounting Estimates and Errors&#x201D; were issued in October 2018.
 The amendments are effective for annual periods beginning on or
 after January&#xA0;1, 2020 and are to be applied prospectively. The
 amendments update the definition of material. Adoption of these
 amendments is not expected to have a significant impact on the
 Company&#x2019;s Consolidated Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(IX) IFRS 17 &#x201C;Insurance
 Contracts&#x201D;</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRS 17 was issued in May 2017 and is effective for years beginning
 on January&#xA0;1, 2021, to be applied retrospectively. If full
 retrospective application to a group of contracts is impractical,
 the modified retrospective or fair value methods may be used. The
 standard will replace IFRS 4 &#x201C;Insurance Contracts&#x201D; and
 will materially change the recognition and measurement of insurance
 contracts and the corresponding presentation and disclosures in the
 Company&#x2019;s Financial Statements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 In November 2018, the IASB tentatively decided to defer the
 effective date of IFRS 17 by one year. The proposed deferral is
 subject to IASB public consultation in 2019 which is expected to
 result in an exposure draft followed by a public comment period.
 The Company will continue to monitor IASB&#x2019;s future
 developments related to IFRS 17.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 IFRS 17 requires entities to measure insurance contract liabilities
 on the balance sheet as the total of (a)&#xA0;the fulfillment cash
 flows &#x2013; the current estimates of amounts that the Company
 expects to collect from premiums and pay out for claims, benefits
 and expenses, including an adjustment for the timing and risk for
 those amounts; and (b)&#xA0;the contractual service margin &#x2013;
 the future profit for providing insurance coverage.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The principles underlying IFRS 17 differ from the CALM as permitted
 by IFRS&#xA0;4.&#xA0;While there are many differences, the
 following outlines two of the key differences:</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Under IFRS 17 the discount rate used to estimate the
 present value of insurance liabilities is based on the
 characteristics of the liability, whereas under CALM, the Company
 uses the rates of returns for current and projected assets
 supporting policy liabilities to value the liabilities. The
 difference in the discount rate approach also impacts the timing of
 investment-related experience earnings emergence. Under CALM,
 investment-related experience includes investment experience and
 the impact of investing activities. The impact of investing
 activities is directly related to the CALM methodology. Under IFRS
 17 the impact of investing activities will emerge over the life of
 the new asset.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: &quot;Times New Roman&quot;" color="#1F320C"><sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Under IFRS 17 new business gains are recorded on the
 Consolidated Statements of Financial Position and amortized into
 income as services are provided.&#xA0;Under CALM new business gains
 (and losses) are recognized in income immediately.</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Company is assessing the implications of this standard and
 expects that it will have a significant impact on the
 Company&#x2019;s Consolidated Financial Statements. In addition, in
 certain jurisdictions, including Canada, it could have a material
 effect on tax and regulatory capital positions and other financial
 metrics that are dependent upon IFRS accounting values.</p>


 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfRiskManagementExplanatory', window );">Market Risk Management Strategy</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Market
 Risk Management Strategy</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">Market risk management strategy is
 governed by the Global Asset Liability Committee which oversees the
 overall market and liquidity risk program. Our overall strategy to
 manage our market risks incorporates several component strategies,
 each targeted to manage one or more of the market risks arising
 from our businesses. At an enterprise level, these strategies are
 designed to manage our aggregate exposures to market risks against
 limits associated with earnings and capital volatility.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">The following table outlines our
 key market risks and identifies the risk management strategies
 which contribute to managing these risks.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="50%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font style="FONT-SIZE: 9pt" color="#1F320C"><b>Risk Management
 Strategy</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="18" align="center"><b>Key Market Risk</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"><b>Publicly<br />
 Traded&#xA0;Equity<br />
 Performance<br />
 Risk</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"><b>Interest&#xA0;Rate<br />
 and Spread<br />
 Risk</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"><b>Alternative<br />
 <font style="WHITE-SPACE: nowrap">Long-Duration</font><br />
 Asset<br />
 Performance<br />
 Risk</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"><b>Foreign<br />
 Exchange&#xA0;Risk</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right"><b>Liquidity&#xA0;Risk</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Product design and pricing</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Variable annuity guarantee dynamic hedging</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Macro equity risk hedging</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asset liability management</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign exchange management</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Liquidity risk management</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory', window );">Product Design and Pricing Strategy</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Product Design and Pricing
 Strategy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 Our policies, standards, and standards of practice with respect to
 product design and pricing are designed with the objective of
 aligning our product offerings with our risk taking philosophy and
 risk appetite, and in particular, that incremental risk generated
 from new sales aligns with our strategic risk objectives and risk
 limits. The specific design features of our product offerings,
 including level of benefit guarantees, policyholder options, fund
 offerings and availability restrictions as well as our associated
 investment strategies, help to mitigate the level of underlying
 risk. We regularly review and modify key features within our
 product offerings, including premiums and fee charges with a goal
 of meeting profit targets and staying within risk limits. Certain
 of our general fund adjustable benefit products have minimum rate
 guarantees. The rate guarantees for any particular policy are set
 at the time the policy is issued and governed by insurance
 regulation in each jurisdiction where the products are sold. The
 contractual provisions allow crediting rates to
 be&#xA0;<font style="WHITE-SPACE: nowrap">re-set</font>
 at&#xA0;<font style="WHITE-SPACE: nowrap">pre-established</font>&#xA0;intervals
 subject to the established minimum crediting rate guarantees. The
 Company may partially mitigate the interest rate exposure by
 setting new rates on new business and by adjusting rates
 on&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;business
 where permitted. In addition, the Company partially mitigates this
 interest rate risk through its asset liability management process,
 product design elements, and crediting rate strategies. New product
 initiatives, new reinsurance arrangements and material insurance
 underwriting initiatives must be reviewed and approved by the CRO
 or key individuals within risk management functions.</p>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForHedgingExplanatory', window );">Hedging Strategies for Variable Annuity and Other Equity Risks</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Hedging
 Strategies for Variable Annuity and Other Equity
 Risks</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">The Company&#x2019;s exposure to
 movement in public equity market values primarily arises from
 variable annuity guarantees and to a smaller extent from
 asset-based fees and general fund public equity
 holdings.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">Dynamic hedging is the primary
 hedging strategy for variable annuity market risks. Dynamic hedging
 is employed for new variable annuity guarantees business when
 written or as soon as practical thereafter.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">We seek to manage public equity
 risk arising from other sources (not dynamically hedged) through
 our macro equity risk hedging strategy. We seek to manage interest
 rate risk arising from variable annuity business not dynamically
 hedged within our asset liability management strategy.</font></p>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForVariableAnnuityDynamicHedgingStrategyExplanatory', window );">Variable Annuity Dynamic Hedging Strategy</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Variable
 Annuity Dynamic Hedging Strategy</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">The variable annuity dynamic
 hedging strategy is designed to hedge the sensitivity of variable
 annuity guarantee policy liabilities and available capital to fund
 performance (both public equity and bond funds) and interest rate
 movements. The objective of the variable annuity dynamic hedging
 strategy is to offset, as closely as possible, the change in the
 economic value of guarantees with the profit and loss from our
 hedge asset portfolio. The economic value of guarantees moves in
 close tandem, but not exactly, with our variable annuity guarantee
 policy liabilities, as it reflects best estimate liabilities and
 does not include any liability provisions for adverse
 deviations.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">Our current variable annuity
 guarantee dynamic hedging approach is to short exchange-traded
 equity index and government bond futures and execute currency
 futures and lengthening interest rate swaps to hedge sensitivity of
 policy liabilities to fund performance and interest rate movements
 arising from variable annuity guarantees. We dynamically rebalance
 these hedge instruments as market conditions change, in order to
 maintain the hedged position within established limits. Other
 derivative instruments (such as equity and interest rate options)
 are also utilized and we may consider the use of additional hedge
 instruments opportunistically in the future.</font></p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">Our variable annuity guarantee
 dynamic hedging strategy is not designed to completely offset the
 sensitivity of policy liabilities to all risks associated with the
 guarantees embedded in these products. The profit (loss) on the
 hedge instruments will not completely offset the underlying losses
 (gains) related to the guarantee liabilities hedged
 because:</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Policyholder behaviour and mortality experience are
 not hedged;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Provisions for adverse deviation in the policy
 liabilities are not hedged;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">A portion of interest rate risk is not hedged;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Credit spreads may widen and actions might not be
 taken to adjust accordingly;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fund performance on a small portion of the underlying
 funds is not hedged due to lack of availability of effective
 exchange-traded hedge instruments;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Performance of the underlying funds hedged may differ
 from the performance of the corresponding hedge instruments;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Correlations between interest rates and equity markets
 could lead to unfavourable material impacts;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Unfavourable hedge rebalancing costs can be incurred
 during periods of high volatility from equity markets, bond markets
 and/or interest rates. The impact is magnified when these impacts
 occur concurrently; and</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Not all other risks are hedged.</p>
 </td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForMacroEquityRiskHedgingStrategyExplanatory', window );">Macro Equity Risk Hedging Strategy</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Macro
 Equity Risk Hedging Strategy</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">The objective of the macro equity
 risk hedging program is to maintain our overall earnings
 sensitivity to public equity market movements within our Board
 approved risk appetite limits. The macro equity risk hedging
 program is designed to hedge earnings sensitivity due to movements
 in public equity markets arising from all sources (outside of
 dynamically hedged exposures). Sources of equity market sensitivity
 addressed by the macro equity risk hedging program
 include:</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Residual equity and currency exposure from variable
 annuity guarantees not dynamically hedged;</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">General fund equity holdings backing <font style="WHITE-SPACE: nowrap">non-participating</font> liabilities; and</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">&#x220E;</sup>&#xA0;</font></td>
 <td valign="top" width="1%">&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Unhedged provisions for adverse deviation related to
 variable annuity guarantees dynamically hedged.</p>
 </td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory', window );">Asset Liability Management Strategy</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Asset
 Liability Management Strategy</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">Our asset liability management
 strategy is designed to help ensure that the market risks embedded
 in our assets and liabilities held in the Company&#x2019;s general
 fund are effectively managed and that risk exposures arising from
 these assets and liabilities are maintained within risk limits. The
 embedded market risks include risks related to the level and
 movement of interest rates and credit and swap spreads, public
 equity market performance, ALDA performance and foreign exchange
 rate movements.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">General fund product liabilities
 are categorized into groups with similar characteristics in order
 to support them with a specific asset strategy. We seek to align
 the asset strategy for each group to the premium and benefit
 pattern, policyholder options and guarantees, and crediting rate
 strategies of the products they support. Similar strategies are
 established for assets in the Company&#x2019;s surplus account. The
 strategies are set using portfolio analysis techniques intended to
 optimize returns, subject to considerations related to regulatory
 and economic capital requirements, and risk tolerances. They are
 designed to achieve broad diversification across asset classes and
 individual investment risks while being suitably aligned with the
 liabilities they support. The strategies encompass asset mix,
 quality rating, term profile, liquidity, currency and industry
 concentration targets.</font></p>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForForeignExchangeRiskManagementStrategyExplanatory', window );">Foreign Exchange Risk Management Strategy</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Foreign
 Exchange Risk Management Strategy</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">Our policy is to generally match
 the currency of our assets with the currency of the liabilities
 they support. Where assets and liabilities are not currency
 matched, we seek to hedge this exposure where appropriate to
 stabilize our capital positions and remain within our enterprise
 foreign exchange risk limits through the use of financial
 instruments such as derivatives.</font></p>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForLiquidityRiskManagementStrategyExplanatoryPolicyTextBlock', window );">Liquidity Risk Management Strategy</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Liquidity Risk Management
 Strategy</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 Global liquidity management policies and procedures are designed to
 provide adequate liquidity to cover cash and collateral obligations
 as they come due, and to sustain and grow operations in both normal
 and stressed conditions. They reflect legal, regulatory, tax,
 operational or economic impediments to inter-entity funding. The
 asset mix of our balance sheet takes into account the need to hold
 adequate unencumbered and appropriate liquid assets to satisfy the
 requirements arising under stressed scenarios and to allow our
 liquidity ratios to remain strong. We manage liquidity centrally
 and closely monitor the liquidity positions of our principal
 subsidiaries.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 We seek to mitigate liquidity risk by diversifying our business
 across different products, markets, geographical regions and
 policyholders. We design insurance products to encourage
 policyholders to maintain their
 policies&#xA0;<font style="WHITE-SPACE: nowrap">in-force,</font>&#xA0;to help
 generate a diversified and stable flow of recurring premium income.
 We design the policyholder termination features of our wealth
 management products and related investment strategies with the goal
 of mitigating the financial exposure and liquidity risk related to
 unexpected policyholder terminations. We establish and implement
 investment strategies intended to match the term profile of the
 assets to the liabilities they support, taking into account the
 potential for unexpected policyholder terminations and resulting
 liquidity needs. Liquid assets represent a large portion of our
 total assets. We aim to reduce liquidity risk in our deposit funded
 businesses by diversifying our funding sources and appropriately
 managing the term structure of our funding. We forecast and monitor
 daily operating liquidity and cash movements in various individual
 entities and operations as well as centrally, aiming to ensure
 liquidity is available and cash is employed optimally.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 We also maintain centralized cash pools and access to other sources
 of liquidity and contingent liquidity such as repurchase funding
 agreements. Our centralized cash pool consists of cash or
 near-cash, high quality short-term investments that are continually
 monitored for their credit quality and market liquidity.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 We have established a variety of contingent liquidity sources. We
 maintain a $500&#xA0;million committed unsecured revolving credit
 facility with certain Canadian chartered banks available for MFC,
 and a US$500&#xA0;million committed unsecured revolving credit
 facility with certain U.S. banks available for MFC and certain of
 its subsidiaries. There were no outstanding borrowings under these
 credit facilities as of December&#xA0;31, 2018. In addition, John
 Hancock (&#x201C;JH&#x201D;) USA is a member of the Federal Home Loan
 Bank of Indianapolis (&#x201C;FHLBI&#x201D;), which enables the
 Company to obtain loans from FHLBI as an alternative source of
 liquidity that is collaterizable by qualifying mortgage loans,
 mortgage-backed securities and U.S. Treasury and Agency securities.
 Based on regulatory limitations, as of December&#xA0;31, 2018,
 JHUSA had an estimated maximum borrowing capacity of
 US$3.8&#xA0;billion under the FHLBI facility, with no amounts
 outstanding.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 The following table outlines the maturity of the Company&#x2019;s
 significant financial liabilities.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Maturity of financial
 liabilities</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(1)</sup></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="58%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Less than<br />
 1 year</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">1 to 3<br />
 years</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">3 to 5<br />
 years</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Over 5<br />
 years</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Long-term debt</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>681</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,088</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,769</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital instruments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,732</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,732</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivatives</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>359</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>229</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>227</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,988</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,803</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deposits from Bank clients<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,351</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,147</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,185</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,684</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Lease obligations</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>129</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>203</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>93</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>150</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>575</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The amounts shown above are net of the related
 unamortized deferred issue costs.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Carrying value and fair value of deposits from Bank
 clients as at December&#xA0;31, 2018 was $19,684&#xA0;million and
 $19,731&#xA0;million, respectively (2017 &#x2013;
 $18,131&#xA0;million and $18,149&#xA0;million, respectively). Fair
 value is determined by discounting contractual cash flows, using
 market interest rates currently offered for deposits with similar
 terms and conditions. All deposits from Bank clients were
 categorized in Level&#xA0;2 of the fair value hierarchy (2017
 &#x2013; Level&#xA0;2).</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 Through the normal course of business, pledging of assets is
 required to comply with jurisdictional regulatory and other
 requirements including collateral pledged to partially mitigate
 derivative counterparty credit risk, assets pledged to exchanges as
 initial margin and assets held as collateral for repurchase funding
 agreements. Total unencumbered assets were $427.9 billion as at
 December&#xA0;31, 2018 (2017 &#x2013; $396.8 billion).</p>
 </div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Liquidity Risk Exposure
 Measures</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 We manage liquidity levels of the consolidated group and key
 subsidiaries against established thresholds. We measure liquidity
 under both immediate (within one month) and ongoing (within one
 year) stress scenarios. Our policy is to maintain the ratio of
 assets to liabilities, both adjusted for their liquidity values,
 above the&#xA0;<font style="WHITE-SPACE: nowrap">pre-established</font>&#xA0;limit.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 Increased use of derivatives for hedging purposes has necessitated
 greater emphasis on measurement and management of contingent
 liquidity risk related to these instruments, in particular the
 movement of&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">&#x201C;over-the-counter&#x201D;</font></font>&#xA0;derivatives
 to central clearing in the U.S. and Japan places an emphasis on
 cash as the primary source of liquidity as opposed to security
 holdings. The market value of our derivative portfolio is therefore
 regularly stress tested to assess the potential collateral and cash
 settlement requirements under various market conditions.</p>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForMarketRiskSensitivitiesAndMarketRiskExposureMeasuresExplanatory', window );">Market Risk Sensitivities and Market Risk Exposure Measures</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#2A517F"><b>Market
 Risk Sensitivities and Market Risk Exposure
 Measures</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Variable
 Annuity and Segregated Fund Guarantees Sensitivities and Risk
 Exposure Measures</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">Guarantees on variable annuity
 products and segregated funds may include one or more of death,
 maturity, income and withdrawal guarantees. Variable annuity and
 segregated fund guarantees are contingent and only payable upon the
 occurrence of the relevant event, if fund values at that time are
 below guaranteed values. Depending on future equity market levels,
 liabilities on current <font style="WHITE-SPACE: nowrap">in-force</font> business would be due
 primarily in the period from 2019 to 2039.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">We seek to mitigate a portion of
 the risks embedded in our retained (i.e. net of reinsurance)
 variable annuity and segregated fund guarantee business through the
 combination of our dynamic and macro hedging strategies (see
 &#x201C;Publicly Traded Equity Performance Risk&#x201D;
 below).</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">The table below shows selected
 information regarding the Company&#x2019;s variable annuity and
 segregated fund investment-related guarantees gross and net of
 reinsurance.</font></p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Variable
 annuity and segregated fund guarantees, net of
 reinsurance</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="98%" align="center" border="0">
 <tr>
 <td width="51%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" rowspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" align="center"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center">2017</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Guarantee<br />
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Fund&#xA0;value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Amount&#xA0;at<br />
 risk<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right">Guarantee<br />
 value</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right">Fund&#xA0;value</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right">Amount<br />
 at&#xA0;risk<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Guaranteed minimum income benefit<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,264</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,675</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,593</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">5,201</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,195</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1,074</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Guaranteed minimum withdrawal benefit</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>60,494</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>49,214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,388</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">61,767</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">56,512</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,943</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Guaranteed minimum accumulation benefit</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18,611</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18,720</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>141</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">18,162</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">18,705</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">11</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross living benefits<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>84,369</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>71,609</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,122</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">85,130</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">79,412</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,028</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross death benefits<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,663</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14,654</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,567</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">10,743</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">16,973</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">1,001</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total gross of reinsurance</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;95,032</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;86,263</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;14,689</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">&#xA0;&#xA0;95,873</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">96,385</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">8,029</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Living benefits reinsured</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,515</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,173</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,343</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,522</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,667</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">911</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Death benefits reinsured</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,353</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,070</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>493</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">3,014</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">3,040</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">435</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total reinsured</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,868</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,243</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,836</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">7,536</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">6,707</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">1,346</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, net of reinsurance</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>88,164</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>81,020</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,853</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">88,337</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;89,678</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;6,683</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Contracts with guaranteed long-term care benefits are
 included in this category.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Where a policy includes both living and death
 benefits, the guarantee in excess of the living benefit is included
 in the death benefit category as outlined in footnote 3.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Death benefits include stand-alone guarantees and
 guarantees in excess of living benefit guarantees where both death
 and living benefits are provided on a policy.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Amount at risk <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">(in-the-money</font></font> amount) is the
 excess of guarantee values over fund values on all policies where
 the guarantee value exceeds the fund value. This amount is not
 currently payable. For guaranteed minimum death benefit, the amount
 at risk is defined as the current guaranteed minimum death benefit
 in excess of the current account balance. For guaranteed minimum
 income benefit, the amount at risk is defined as the excess of the
 current annuitization income base over the current account value.
 For all guarantees, the amount at risk is floored at zero at the
 single contract level.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The amount at risk net of reinsurance at
 December&#xA0;31, 2018 was $12,853&#xA0;million (2017 &#x2013;
 $6,683 million) of which: US$6,899&#xA0;million (2017 &#x2013;
 US$3,982 million) was on our U.S. business, $2,654&#xA0;million
 (2017 &#x2013; $1,342 million) was on our Canadian business,
 US$332&#xA0;million (2017 &#x2013; US$95 million) was on our Japan
 business and US$246&#xA0;million (2017 &#x2013; US$181 million) was
 related to Asia (other than Japan) and our <font style="WHITE-SPACE: nowrap">run-off</font> reinsurance business.</p>
 </td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory', window );">Investment categories for variable contracts with guarantees</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Investment categories for variable contracts with
 guarantees</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">Variable contracts with
 guarantees, including variable annuities and variable life, are
 invested, at the policyholder&#x2019;s discretion subject to
 contract limitations, in various fund types within the segregated
 fund accounts and other investments. The account balances by
 investment category are set out below.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 ($ millions)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Investment category</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>43,528</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">47,508</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balanced funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>41,625</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47,369</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Bond funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,309</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,095</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Money market funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,107</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,905</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other fixed interest rate investments</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,997</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,777</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;101,566</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;111,654</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForCautionRelatedToSensitivitiesExplanatory', window );">Caution Related to Sensitivities</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Caution
 Related to Sensitivities</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">In the sections that follow, we
 provide sensitivities and risk exposure measures for certain risks.
 These include sensitivities due to specific changes in market
 prices and interest rate levels projected using internal models as
 at a specific date and are measured relative to a starting level
 reflecting the Company&#x2019;s assets and liabilities at that date
 and the actuarial factors, investment activity and investment
 returns assumed in the determination of policy liabilities. The
 risk exposures measure the impact of changing one factor at a time
 and assume that all other factors remain unchanged. Actual results
 can differ significantly from these estimates for a variety of
 reasons including the interaction among these factors when more
 than one changes; changes in actuarial and investment return and
 future investment activity assumptions; actual experience differing
 from the assumptions, changes in business mix, effective tax rates
 and other market factors; and the general limitations of our
 internal models. For these reasons, the sensitivities should only
 be viewed as directional estimates of the underlying sensitivities
 for the respective factors based on the assumptions outlined below.
 Given the nature of these calculations, we cannot provide assurance
 that the actual impact on net income attributed to
 shareholders</font></p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">or on MLI&#x2019;s LICAT total
 ratio will be as indicated.</font></p>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DescriptionOfAccountingPolicyForInterestRateAndSpreadRiskSensitivitiesAndExposureMeasuresExplanatory', window );">Interest Rate and Spread Risk Sensitivities and Exposure Measures</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Interest Rate and Spread Risk
 Sensitivities and Exposure Measures</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 At December&#xA0;31, 2018, we estimated the sensitivity of our net
 income attributed to shareholders to a 50 basis point parallel
 decline in interest rates to be a charge of $100&#xA0;million, and
 to a 50 basis point increase in interest rates to be a benefit of
 $100&#xA0;million.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The table below shows the potential impact on net income attributed
 to shareholders from a 50 basis point parallel move in interest
 rates. This includes a change of 50 basis points in current
 government, swap and corporate rates for all maturities across all
 markets with no change in credit spreads between government, swap
 and corporate rates, and with a floor of zero on government rates
 where government rates are not currently negative, relative to the
 rates assumed in the valuation of policy liabilities, including
 embedded derivatives. For variable annuity guarantee liabilities
 that are dynamically hedged, it is assumed that interest rate
 hedges are rebalanced at 20 basis point intervals.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 As the sensitivity to a 50 basis point change in interest rates
 includes any associated change in the applicable reinvestment
 scenarios, the impact of changes to interest rates for less than,
 or more than 50 basis points is unlikely to be linear. Furthermore,
 our sensitivities are not consistent across all regions in which we
 operate, and the impact of yield curve changes will vary depending
 upon the geography where the change occurs. Reinvestment
 assumptions used in the valuation of policy liabilities tend to
 amplify the negative effects of a decrease in interest rates and
 dampen the positive effects of interest rate increases. This is
 because the reinvestment assumptions used in the valuation of our
 insurance liabilities are based on interest rate scenarios and
 calibration criteria set by the Canadian Actuarial Standards Board,
 while our interest rate hedges are valued using current market
 interest rates. Therefore, in any particular quarter, changes to
 the reinvestment assumptions are not fully aligned to changes in
 current market interest rates especially when there is a
 significant change in the shape of the interest rate curve. As a
 result, the impact from&#xA0;<font style="WHITE-SPACE: nowrap">non-parallel</font>&#xA0;movements
 may be materially different from the estimated impact of parallel
 movements. For example, if long-term interest rates increase more
 than short-term interest rates (sometimes referred to as a
 steepening of the yield curve) in North America, the decrease in
 the value of our swaps may be greater than the decrease in the
 value of our insurance liabilities. This could result in a charge
 to net income attributed to shareholders in the short-term even
 though the rising and steepening of the yield curve, if sustained,
 may have a positive long-term economic impact.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The potential impact on net income attributed to shareholders does
 not take into account any future potential changes to our URR
 assumptions or calibration criteria for stochastic risk-free rates
 or other potential impacts of lower interest rate levels, for
 example, increased strain on the sale of new business or lower
 interest earned on our surplus assets. The impact also does not
 reflect any unrealized gains or losses on AFS fixed income assets
 held in our Corporate and Other segment. Changes in the market
 value of these assets may provide a natural economic offset to the
 interest rate risk arising from our product liabilities. In order
 for there to also be an accounting offset, the Company would need
 to realize a portion of the AFS fixed income asset unrealized gains
 or losses. It is not certain we would crystallize any of the
 unrealized gains or losses available.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 The impact does not reflect any potential effect of changing
 interest rates to the value of our ALDA assets. Rising interest
 rates could negatively impact the value of our ALDA assets (see
 &#x201C;Critical Accounting and Actuarial Policies &#x2013; Fair
 Value of Invested Assets&#x201D;, below). More information on ALDA
 can be found under the section &#x201C;Alternative Long-Duration
 Asset Performance Risk Sensitivities and Exposure Measures&#x201D;,
 below.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Under LICAT, changes in unrealized gains or losses in our AFS bond
 portfolio resulting from interest rate shocks tend to dominate
 capital sensitivities. As a result, the reduction in interest rates
 improves LICAT total ratios and vice-versa.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 The following table shows the potential impact on net income
 attributed to shareholders including the change in the market value
 of AFS fixed income assets held in our Corporate and Other segment,
 which could be realized through the sale of these assets.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders and MLI&#x2019;s LICAT total ratio of an immediate
 parallel change in interest rates relative to rates assumed in the
 valuation of policy liabilities</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(1),(2),(3),(4)</sup></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td width="66%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="2%"></td>
 <td width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid" bgcolor="#E9EDF2">
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="6">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="9">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"><font style="FONT-SIZE: 7pt"><b>2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6" align="center"><font style="FONT-SIZE: 7pt">2017</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"><font style="FONT-SIZE: 7pt" color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">-50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">+50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">-50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">+50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income attributed to shareholders ($ millions)</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Excluding change in market value of AFS fixed income assets held in
 the Corporate and Other segment</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">(200</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">100</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 From fair value changes in AFS fixed income assets held in the
 Corporate and Other segment, if realized</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,600</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">1,100</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">(1,000</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top"><b>MLI&#x2019;s LICAT total ratio (Percentage
 points)</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 LICAT total ratio change in percentage points<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">See &#x201C;Caution Related to Sensitivities&#x201D;
 above. In addition, estimates exclude changes to the net actuarial
 gains/losses with respect to the Company&#x2019;s pension
 obligations as a result of changes in interest rates, as the impact
 on the quoted sensitivities is not considered to be material.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes guaranteed insurance and annuity products,
 including variable annuity contracts as well as adjustable benefit
 products where benefits are generally adjusted as interest rates
 and investment returns change, a portion of which have minimum
 credited rate guarantees. For adjustable benefit products subject
 to minimum rate guarantees, the sensitivities are based on the
 assumption that credited rates will be floored at the minimum.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The amount of gain or loss that can be realized on AFS
 fixed income assets held in the Corporate and Other segment will
 depend on the aggregate amount of unrealized gain or loss.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Sensitivities are based on projected asset and
 liability cash flows and the impact of realizing fair value changes
 in AFS fixed income is based on the holdings at the end of the
 period.</p>
 </td>
 </tr>
 </table>
 </div>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. The LICAT
 ratio is not applicable before January 1, 2018.</p>
 </td>
 </tr>
 </table>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The $100&#xA0;million decrease in sensitivity to a 50 basis point
 decline in interest rates from December&#xA0;31, 2017 was primarily
 due to purchases of fixed income assets from sales of ALDA (due to
 reducing the allocation to ALDA in our portfolio asset mix) in the
 U.S., which reduced the reinvestment exposure to interest
 rates.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 The following tables show the potential impact on net income
 attributed to shareholders resulting from a change in corporate
 spreads and swap spreads over government bond rates for all
 maturities across all markets with a floor of zero on the total
 interest rate, relative to the spreads assumed in the valuation of
 policy liabilities.</p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders and MLI&#x2019;s LICAT total ratio arising from
 changes to corporate spreads and swap
 spreads</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(1),(2),(3)</sup></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td width="72%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; break-inside: avoid" bgcolor="#E9EDF2">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"><b>Corporate
 spreads<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"><font color="#1F320C"><b>As at
 December&#xA0;31,</b></font>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income attributed to shareholders ($ millions)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(600</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;600</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;(1,000</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;1,000</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 MLI&#x2019;s LICAT total ratio (change percentage points)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"><b>(6</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"><b>6</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"><b>Swap spreads</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"><font color="#1F320C"><b>As at
 December&#xA0;31,</b></font>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income attributed to shareholders ($ millions)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="top">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;100</b></td>
 <td bgcolor="#DDE0DA" valign="top" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;400</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;(400</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 MLI&#x2019;s LICAT total ratio (change percentage points)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"><b>nil</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right"><b>nil</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; BORDER-TOP: rgb(233,237,242) 1px solid; FONT-FAMILY: ARIAL; BORDER-RIGHT: rgb(233,237,242) 1px solid; WHITE-SPACE: normal; WORD-SPACING: 0px; BORDER-BOTTOM: rgb(233,237,242) 1px solid; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; BORDER-LEFT: rgb(233,237,242) 1px solid; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">See &#x201C;Caution Related to Sensitivities&#x201D;
 above.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impact on net income attributed to shareholders
 assumes no gains or losses are realized on our AFS fixed income
 assets held in the Corporate and Other segment and excludes the
 impact of changes in segregated fund bond values due to changes in
 credit spreads. The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes in corporate and
 swap spreads.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Sensitivities are based on projected asset and
 liability cash flows.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Corporate spreads are assumed to grade to the
 long-term average over five years.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">As the sensitivity to a 50 basis point decline in
 corporate spreads includes the impact of a change in deterministic
 reinvestment scenarios where applicable, the impact of changes to
 corporate spreads for less than, or more than, the amounts
 indicated are unlikely to be linear.</p>
 </td>
 </tr>
 </table>
 </div>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(6)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. Under
 LICAT, spread movements are determined from a selection of
 investment grade bond indices with BBB and better bonds for each
 jurisdiction. For LICAT, we use the following indices: FTSE TMX
 Canada All Corporate Bond Index, Barclays USD Liquid Investment
 Grade Corporate Index, and Nomura-BPI (Japan). The LICAT ratio is
 not applicable before January 1, 2018.</p>
 </td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory', window );">Alternative Long-Duration Asset Performance Risk Sensitivities and Exposure Measures</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Alternative Long-Duration Asset Performance Risk
 Sensitivities and Exposure Measures</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">The following table shows the
 potential impact on net income attributed to shareholders resulting
 from an immediate 10% change in market values of ALDA followed by a
 return to the expected level of growth assumed in the valuation of
 policy liabilities. If market values were to remain flat for an
 entire year, the potential impact would be roughly equivalent to an
 immediate decline in market values equal to the expected level of
 annual growth assumed in the valuation of policy liabilities.
 Further, if after market values dropped 10% they continued to
 decline, remained flat, or grew more slowly than assumed in the
 valuation of policy liabilities, the potential impact on net income
 attributed to shareholders could be considerably more than shown.
 Refer to &#x201C;Sensitivity of Earnings to Changes in
 Assumptions&#x201D; below, for more information on the level of
 growth assumed and on the net income sensitivity to changes in
 these long-term assumptions.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">ALDA includes commercial real
 estate, timber and farmland real estate, oil and gas direct
 holdings, and private equities, some of which relate to oil and
 gas.</font></p>
 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for derivative financial instruments and hedging. [Refer: Financial instruments, class [member]; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for employee benefits. Employee benefits are all forms of consideration given by an entity in exchange for services rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for fair value measurement. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for foreign currency translation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForHedgingExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for hedging.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForHedgingExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for insurance contracts and related assets, liabilities, income and expense. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_a&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for intangible assets and goodwill. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for recognising revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for reinsurance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for transactions in which the entity: (a) receives goods or services from the supplier of those goods or services (including an employee) in a share-based payment arrangement; or (b) incurs an obligation to settle the transaction with the supplier in a share-based payment arrangement when another group entity receives those goods or services. [Refer: Share-based payment arrangements [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for alternative long-duration asset performance risk sensitivities and exposure measures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_AlternativeLongdurationAssetPerformanceRiskSensitivitiesAndExposureMeasuresExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for asset liability management strategy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForAssetLiabilityManagementStrategyExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for basis of consolidation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForBasisOfPreparationExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for basis of preparation explanatory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForBasisOfPreparationExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForCautionRelatedToSensitivitiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for caution related to sensitivities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForCautionRelatedToSensitivitiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForChangeInAccountingPolicyExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of entity's accounting policy for change in accounting policy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForChangeInAccountingPolicyExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForForeignExchangeRiskManagementStrategyExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for foreign exchange risk management strategy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForForeignExchangeRiskManagementStrategyExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForFutureAccountingAndReportingChangesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for future accounting and reporting changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForFutureAccountingAndReportingChangesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForInterestRateAndSpreadRiskSensitivitiesAndExposureMeasuresExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for interest rate and spread risk sensitivities and exposure measures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForInterestRateAndSpreadRiskSensitivitiesAndExposureMeasuresExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForInvestedAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for invested assets explanatory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForInvestedAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for investment categories for variable contracts with guarantees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForLiquidityRiskManagementStrategyExplanatoryPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for liquidity risk management strategy explanatory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForLiquidityRiskManagementStrategyExplanatoryPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForMacroEquityRiskHedgingStrategyExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for macro equity risk hedging strategy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForMacroEquityRiskHedgingStrategyExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForMarketRiskSensitivitiesAndMarketRiskExposureMeasuresExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for market risk sensitivities and market risk exposure measures</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForMarketRiskSensitivitiesAndMarketRiskExposureMeasuresExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForMiscellaneousAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for miscellaneous assets explanatory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForMiscellaneousAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for premium income and related expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForPremiumIncomeAndRelatedExpensesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for product design and pricing strategy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DescriptionOfAccountingPolicyForProductDesignAndPricingStrategyExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DescriptionOfAccountingPolicyForReportingEntityExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for reporting entity explanatory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for segregated funds explanatory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for variable annuity dynamic hedging strategy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6713403216">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Invested Assets and Investment Income (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory', window );">Schedule of Carrying Values and Fair Values of Invested Assets</a></td>
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 <font color="#1F320C"><b>(a) Carrying values and fair values of
 invested assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
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 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
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 <td valign="bottom" width="1%"></td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">FVTPL<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">AFS<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total&#xA0;carrying<br />
 value<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total fair<br />
 value<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and short-term securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,080</b></td>
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 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,163</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,972</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
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 <b>16,215</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,215</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(7)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,342</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23,787</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23,787</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,990</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>25,924</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>25,924</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,159</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,101</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>20,260</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>20,260</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>107,425</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;112,670</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>112,670</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,774</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,953</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,953</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,721</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,458</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,363</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,363</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,628</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,754</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,754</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>36,103</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,793</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,793</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,797</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Own use property<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(8)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,016</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,016</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Investment property</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Alternative long-duration assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(9),(10)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,720</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>101</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,617</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23,438</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24,211</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Various other<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">&#xA0;(11)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>151</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,954</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,105</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,104</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total invested assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;187,409</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;43,579</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;122,676</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>353,664</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;356,217</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">FVTPL<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">AFS<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">Other<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br /></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">Total&#xA0;carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br /></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">Total fair<br />
 value<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and short-term securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">439</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">11,429</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,097</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">15,965</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">15,965</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(7)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,886</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,892</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22,778</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22,778</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,497</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,472</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">25,969</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">25,969</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,838</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,988</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,826</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,826</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">96,785</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,366</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">102,151</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">102,151</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,018</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">258</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,276</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,276</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,473</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,072</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">21,545</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">21,545</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">44,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">44,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">46,065</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">32,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">32,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">34,581</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,737</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,737</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Own use property<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(8)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,281</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,281</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,448</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Investment property</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Alternative long-duration assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(9),(10)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,018</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">88</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8,624</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">20,730</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">21,053</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Various other<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">&#xA0;(11)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">142</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,611</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,753</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,752</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total invested assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">178,096</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">41,565</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">114,561</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">334,222</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">339,488</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">FVTPL classification was elected for securities
 backing insurance contract liabilities to substantially reduce any
 accounting mismatch arising from changes in the fair value of these
 assets and changes in the value of the related insurance contract
 liabilities. If this election had not been made and instead the AFS
 classification was selected, there would be an accounting mismatch
 because changes in insurance contract liabilities are recognized in
 net income rather than in OCI.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Securities that are designated as AFS are not actively
 traded by the Company but sales do occur as circumstances warrant.
 Such sales result in a reclassification of any accumulated
 unrealized gain (loss) in AOCI to net income as a realized gain
 (loss).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Primarily includes assets classified as loans and
 carried at amortized cost, own use properties, investment
 properties, equity method accounted investments, oil and gas
 investments, and leveraged leases. Refer to note 1(e) for further
 details regarding accounting policy.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fixed income invested assets presented above include
 debt securities, mortgages, private placements and approximately
 $600 other invested assets, which primarily have contractual cash
 flows that qualify as SPPI. Fixed income invested assets which do
 not have SPPI qualifying cash flows as at December&#xA0;31, 2018
 include debt securities, private placements and other invested
 assets with fair values of $105, $230 and $465, respectively. The
 change in the fair value of these invested assets during the year
 amounts to $21.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The methodologies used in determining fair values of
 invested assets are described in note 1(c) and note 3(g).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes short-term securities with maturities of less
 than one year at acquisition amounting to $2,530 (2017 &#x2013;
 $2,737), cash equivalents with maturities of less than 90 days at
 acquisition amounting to $8,713 (2017 &#x2013; $9,131) and cash of
 $4,972 (2017 &#x2013; $4,097).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(7)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Debt securities include securities which were acquired
 with maturities of less than one year and less than 90 days of $870
 and $40, respectively (2017 &#x2013; $1,768 and $161,
 respectively).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(8)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes accumulated depreciation of $391 (2017
 &#x2013; $389).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(9)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Alternative long-duration assets (&#x201C;ALDA&#x201D;)
 include investments in private equity of $6,769, power and
 infrastructure of $7,970, oil and gas of $3,416, timber and
 agriculture of $4,493 and various other invested assets of $791
 (2017 &#x2013; $4,959, $7,355, $2,813, $5,033 and $570,
 respectively). Included in power and infrastructure are a group of
 investments in hydro-electric power of $426 for which the Company
 has an approved plan of sale. Sale of these investments is expected
 to be completed within one year. This disposal group is classified
 as held for sale and measured at the lower of carrying amount and
 fair value less costs to sell.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(10)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">During 2018, the Company sold the following invested
 assets to related parties: $1,422 of power and infrastructure ALDA
 to the John Hancock Infrastructure Master Fund L.P. in the U.S. an
 associate of the Company which is a structured entity based on
 partnership voting rights, the Company provides management services
 to the fund and owns less than 1% of the ownership interest; $510
 (2017 &#x2013; $395) of U.S. commercial real estate to the Manulife
 US Real Estate Investment Trust in Singapore, an associate of the
 Company which is a structured entity based on unitholder voting
 rights, the Company provides management services to the trust and
 owns approximately 8.5% (2017 &#x2013; 9.5%) of its units; and
 $1,314 of U.S. commercial real estate to three newly established
 joint ventures which are structured entities based on voting
 rights. During 2017, $619 of U.S. commercial real estate was sold
 to the Hancock US Real Estate Fund, L.P., an associate of the
 Company which is a structured entity based on partnership voting
 rights. The Company provides management services to the fund and
 owns approximately 11.7% of its partnership interests.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(11)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes $3,575 (2017 &#x2013; $3,273) of leveraged
 leases. Refer to note 1(e) regarding accounting policy.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfOtherInvestedAssetsIncludeInvestmentsInAssociatesAndJointVenturesAccountedUsingEquityMethodExplanatory', window );">Schedule of Other Invested Assets Include Investments in Associates and Joint Ventures Accounted Using Equity Method</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Other invested assets include investments in associates and joint
 ventures which are accounted for using the equity method of
 accounting as presented in the following table.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="8"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">% of
 total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">% of total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Leveraged leases</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,575</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>51</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;3,273</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">56</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Timber and agriculture</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>599</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">451</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>725</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">498</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,959</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>29</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,535</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">27</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,858</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>100</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">5,757</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">100</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeExplanatory', window );">Schedule of Investment Income</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(c) Investment income</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="67%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">FVTPL</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">AFS</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Other<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and short-term securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>268</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(74</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>62</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(12</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;5,432</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>646</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,078</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(5,993</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(310</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(6,303</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Recovery (impairment loss), net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Dividend income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>484</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>556</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,596</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>330</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,266</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(43</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(43</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,824</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,824</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Provision, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,729</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,729</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>371</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>371</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>81</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>81</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Provision, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Rental income, net of depreciation<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>515</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>515</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivatives</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>689</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(33</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>656</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,251</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,224</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>74</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>74</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Oil and gas, timber, agriculture and other income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,758</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,758</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>283</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(110</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>173</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss, net</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(114</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(120</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total investment income</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,992</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,003</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,521</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,532</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,139</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>896</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,046</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,081</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Dividend, rental and other income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>484</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,273</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,829</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairments, provisions and recoveries, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>16</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(47</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(133</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(164</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(271</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>58</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(186</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,368</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>979</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,213</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,560</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Realized and unrealized gains (losses) on assets supporting
 insurance and investment contract liabilities and on macro equity
 hedges</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(6,012</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(5,994</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Public equities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,454</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,444</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>55</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>55</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>449</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>449</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>357</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(140</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>213</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Derivatives, including macro equity hedging program</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,251</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,224</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9,360</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>24</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>308</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(9,028</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total investment income</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,992</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,003</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;6,521</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,532</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 8px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="66%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">FVTPL</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">AFS</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Other<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and short-term securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">153</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">160</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(47</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(25</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,102</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">577</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,679</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,690</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(205</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,485</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Recovery (impairment loss), net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Dividend income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">524</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">79</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">603</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,372</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">226</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,598</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(14</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(14</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,685</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,685</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">69</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">69</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Provision, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(32</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(32</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,553</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,553</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">43</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">43</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">365</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">365</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">68</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">68</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Rental income, net of depreciation<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">517</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">517</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">341</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">341</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivatives</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">809</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">84</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">893</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,029</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">84</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(945</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">174</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">174</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Oil and gas, timber, agriculture and other income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,690</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,690</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gains (losses)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">441</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">50</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">484</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairment loss, net</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(45</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(45</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total investment income</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">11,954</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">761</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">6,652</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">19,367</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">5,918</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">730</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3,929</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">10,577</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Dividend, rental and other income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">524</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">79</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,207</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,810</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impairments, provisions and recoveries, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(15</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(71</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(70</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">460</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(51</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(77</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">332</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">6,918</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">743</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,988</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">13,649</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Realized and unrealized gains (losses) on assets supporting
 insurance and investment contract liabilities and on macro equity
 hedges</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Debt securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,694</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(8</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,686</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Public equities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,200</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,235</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Mortgages</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">69</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">69</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Real estate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">350</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">350</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">329</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(9</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">121</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">441</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Derivatives, including macro equity hedging program</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,187</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">84</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,103</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,036</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">18</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">664</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,718</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total investment income</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">11,954</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">761</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">6,652</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">19,367</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Primarily includes investment income on loans carried
 at amortized cost, own use properties, investment properties,
 derivative and hedging instruments in cash flow hedging
 relationships, equity method accounted investments, oil and gas
 investments, and leveraged leases.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes net realized and unrealized gains (losses)
 for financial instruments at FVTPL, real estate investment
 properties, and other invested assets measured at fair value. Also
 includes net realized gains (losses) for financial instruments at
 AFS and other invested assets carried at amortized cost.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Rental income from investment properties is net of
 direct operating expenses.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentExpensesExplanatory', window );">Summary of Total Investment Expenses</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The following table presents the Company&#x2019;s total investment
 expenses.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="83%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Related to invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>638</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">625</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Related to segregated, mutual and other funds</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,070</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,048</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total investment expenses</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;1,708</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;1,673</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutInvestmentPropertyExplanatory', window );">Summary of Rental Income and Direct Operating Expenses of Investment Properties</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The following table presents the rental income and direct operating
 expenses of investment properties.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="83%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Rental income from investment properties</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,013</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;1,120</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Direct operating expenses of rental investment properties</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(582</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(694</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>431</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">426</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCarryingAmountOfSecuritizedAssetsExplanatory', window );">Summary of Securitized Assets and Secured Borrowing Liabilities</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Securitized assets and secured borrowing
 liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="54%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="8%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom"><font color="#1F320C"><b>As at
 December&#xA0;31, 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" nowrap="nowrap" align="center">
 Securitized assets</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 Securitization program</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Securitized<br />
 mortgages</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Restricted cash and<br />
 short-term securities</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Secured
 borrowing<br />
 liabilities<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 HELOC securitization<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,285</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,293</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;2,250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 CMB securitization</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,525</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,525</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,524</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,810</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>$&#xA0;&#xA0;8</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,818</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>$&#xA0;&#xA0;3,774</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="12"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom" nowrap="nowrap"><font color="#1F320C"><b>As at
 December&#xA0;31, 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="10" nowrap="nowrap" align="center">Securitized assets</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 Securitization program</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Securitized<br />
 mortgages</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Restricted cash and<br />
 short-term securities</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Secured borrowing<br />
 liabilities<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 HELOC securitization<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;2,024</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">$&#xA0;&#xA0;8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;2,032</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">$&#xA0;&#xA0;2,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 CMB securitization</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,480</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,480</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,523</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">3,504</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">$&#xA0;&#xA0;8</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">3,512</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">$&#xA0;&#xA0;3,523</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Manulife Bank, a MFC subsidiary, securitizes a portion
 of its HELOC receivables through Platinum Canadian Mortgage Trust
 (&#x201C;PCMT&#x201D;), and Platinum Canadian Mortgage Trust II
 (&#x201C;PCMT II&#x201D;). PCMT funds the purchase of the
 <font style="WHITE-SPACE: nowrap">co-ownership</font> interests
 from Manulife Bank by issuing term notes collateralized by an
 underlying pool of CMHC insured HELOCs to institutional investors.
 PCMT II funds the purchase of the <font style="WHITE-SPACE: nowrap">co-ownership</font> interests from Manulife
 Bank by issuing term notes collateralized by an underlying pool of
 uninsured HELOCs to institutional investors. The restricted cash
 balance for the HELOC securitization reflects a cash reserve fund
 established in relation to the transactions. The reserve will be
 drawn upon only in the event of insufficient cash flows from the
 underlying HELOCs to satisfy the secured borrowing liability.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Secured borrowing liabilities primarily comprise of
 Series <font style="WHITE-SPACE: nowrap">2011-1</font> notes with a
 floating rate which are expected to mature on December&#xA0;15,
 2021, and the Series <font style="WHITE-SPACE: nowrap">2016-1</font> notes with a floating rate
 which are expected to mature on May&#xA0;15, 2022. Manulife Bank
 also securitizes insured amortizing mortgages under the National
 Housing Act Mortgage-Backed Securities (&#x201C;NHA MBS&#x201D;)
 program sponsored by CMHC. Manulife Bank participates in CMB
 programs by selling NHA MBS securities to Canada Housing Trust
 (&#x201C;CHT&#x201D;), as a source of fixed rate funding.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestedAssetsAndSegregatedFundsNetAssetsMeasuredAtFairValueExplanatory', window );">Summary of Invested Assets and Segregated Funds Net Assets, Measured at Fair Value</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the fair values of invested assets and
 segregated funds net assets measured at fair value categorized by
 the fair value hierarchy.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="61%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total fair<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,080</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,080</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,163</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,163</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,972</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,972</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Debt securities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <b>FVTPL</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,159</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,979</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>180</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>107,425</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>106,641</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>784</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>13</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,344</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,344</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other securitized assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,417</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,417</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <b>AFS</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,342</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,342</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,990</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,990</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,101</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,064</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,125</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>120</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>128</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>128</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other securitized assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>49</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>49</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Public equities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,721</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,718</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,458</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,456</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Real estate &#x2013; investment property<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(</sup><sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">1)</sup></b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Other invested assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,562</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,562</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Segregated funds net assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>313,209</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>276,178</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>32,584</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,447</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;562,520</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;300,324</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;228,293</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;33,903</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total fair<br />
 value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">439</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">439</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,429</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,429</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,097</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,097</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Debt securities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <b>FVTPL</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,886</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,886</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,497</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,497</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,838</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,599</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">239</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">96,785</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">96,073</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">710</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,099</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,099</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other securitized assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,911</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,886</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">25</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2.25em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <b>AFS</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canadian government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,892</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,892</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,472</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,472</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other government and agency</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,988</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,941</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,366</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,278</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">88</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">37</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">37</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">138</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">138</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other securitized assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">83</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">82</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Public equities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,473</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,470</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,072</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,069</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Real estate &#x2013; investment property<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Other invested assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,203</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,203</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Segregated funds net assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(</sup><sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">3)</sup></b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">324,307</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">286,490</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">33,562</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,255</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;564,549</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;312,128</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;218,320</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;34,101</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">For investment properties, the significant
 unobservable inputs are capitalization rates (ranging from 2.75% to
 8.75% during the year and ranging from 3.50% to 9.00% during 2017)
 and terminal capitalization rates (ranging from 3.65% to 9.25%
 during the year and ranging from 4.0% to 9.25% during 2017).
 Holding other factors constant, a lower capitalization or terminal
 capitalization rate will tend to increase the fair value of an
 investment property. Changes in fair value based on variations in
 unobservable inputs generally cannot be extrapolated because the
 relationship between the directional changes of each input is not
 usually linear.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other invested assets measured at fair value are held
 primarily in power and infrastructure and timber sectors. The
 significant inputs used in the valuation of the Company&#x2019;s
 power and infrastructure investments are primarily future
 distributable cash flows, terminal values and discount rates.
 Holding other factors constant, an increase to future distributable
 cash flows or terminal values would tend to increase the fair value
 of a power and infrastructure investment, while an increase in the
 discount rate would have the opposite effect. Discount rates during
 the year ranged from 8.95% to 16.5% (2017 &#x2013; ranged from 9.20%
 to 16.5%). Disclosure of distributable cash flow and terminal value
 ranges are not meaningful given the disparity in estimates by
 project. The significant inputs used in the valuation of the
 Company&#x2019;s investments in timberland are timber prices and
 discount rates. Holding other factors constant, an increase to
 timber prices would tend to increase the fair value of a timberland
 investment, while an increase in the discount rates would have the
 opposite effect. Discount rates during the year ranged from 5.0% to
 7.0% (2017 &#x2013; ranged from 5.0% to 7.5%). A range of prices for
 timber is not meaningful as the market price depends on factors
 such as property location and proximity to markets and export
 yards.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Segregated funds net assets are measured at fair
 value. The Company&#x2019;s Level&#xA0;3 segregated funds assets are
 predominantly invested in investment properties and timberland
 properties valued as described above.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSummarizedInvestedAssetsNotMeasuredAtFairValueExplanatory', window );">Summary of Fair Values and the Fair Value Hierarchy</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Fair value and the fair value hierarchy of invested assets not
 measured at fair value.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="56%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,363</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,628</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,628</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,754</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>36,103</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,325</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,778</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,793</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,797</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,797</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate &#x2013; own use property<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,016</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9,981</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,753</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>121</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,632</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total invested assets disclosed at fair value</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;104,353</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;106,906</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>121</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;38,568</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;68,217</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br /></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">44,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">46,065</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">46,065</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">32,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">34,581</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">28,514</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,067</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,737</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate &#x2013; own use property<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,281</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,448</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,448</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other invested assets<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">8,280</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">8,602</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">88</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">8,514</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total invested assets disclosed at fair value</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;93,980</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;99,246</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">88</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;36,064</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;63,094</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fair value of commercial mortgages is determined
 through an internal valuation methodology using both observable and
 unobservable inputs. Unobservable inputs include credit assumptions
 and liquidity spread adjustments. Fair value of fixed-rate
 residential mortgages is determined using the discounted cash flow
 method. Inputs used for valuation are primarily comprised of
 prevailing interest rates and prepayment rates, if applicable. Fair
 value of variable-rate residential mortgages is assumed to be their
 carrying value.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fair value of private placements is determined through
 an internal valuation methodology using both observable and
 unobservable inputs. Unobservable inputs include credit assumptions
 and liquidity spread adjustments. Private placements are classified
 within Level&#xA0;2 unless the liquidity adjustment constitutes a
 significant price impact, in which case the securities are
 classified as Level&#xA0;3.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fair value of policy loans is equal to their unpaid
 principal balances.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fair value of fixed-rate loans to Bank clients is
 determined using the discounted cash flow method. Inputs used for
 valuation are primarily comprised of current interest rates. Fair
 value of variable-rate loans is assumed to be their carrying
 value.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Fair value of own use real estate and the fair value
 hierarchy are determined in accordance with the methodologies
 described for real estate &#x2013; investment property in
 note&#xA0;1.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Primarily include leveraged leases, oil and gas
 properties and equity method accounted other invested assets. Fair
 value of leveraged leases is disclosed at their carrying values as
 fair value is not routinely calculated on these investments. Fair
 value for oil and gas properties is determined using external
 appraisals based on discounted cash flow methodology. Inputs used
 in valuation are primarily comprised of forecasted price curves,
 planned production, as well as capital expenditures, and operating
 costs. Fair value of equity method accounted other invested assets
 is determined using a variety of valuation techniques including
 discounted cash flows and market comparable approaches. Inputs vary
 based on the specific investment.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory', window );">Summary of Invested Assets and Segregated Funds Net Assets Measured at Fair Value Using Significant Unobservable Inputs (Level 3)</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following tables present a roll forward for invested assets and
 segregated funds net assets measured at fair value using
 significant unobservable inputs (Level 3) for the years ended
 December&#xA0;31, 2018 and 2017.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="37%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended<br />
 December&#xA0;31, 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Balance,<br />
 January&#xA0;1,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net<br />
 realized/<br />
 unrealized<br />
 gains<br />
 (losses)<br />
 included<br />
 in net<br />
 income<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net<br />
 realized/<br />
 unrealized<br />
 gains<br />
 (losses)<br />
 included<br />
 in AOCI<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Purchases</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Sales</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Settlements</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Transfer</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">into</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Level&#xA0;3<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Transfer</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">out of</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Level&#xA0;3<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Currency<br />
 movement</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right"><b>Balance,<br />
 December&#xA0;31,<br />
 2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Change in<br />
 unrealized<br />
 gains<br />
 (losses) on<br />
 assets still<br />
 held</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Debt securities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>FVTPL</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other government&#xA0;&amp; agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>239</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(85</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>15</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>180</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>710</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>190</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(61</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(93</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>53</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>784</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other securitized assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>25</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>31</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(56</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>975</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>248</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(146</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(32</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(149</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>68</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>971</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>AFS</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other government&#xA0;&amp; agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>47</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(15</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>88</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>49</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(12</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>120</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other securitized assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>136</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>55</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(27</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>159</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Public equities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 FVTPL</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Real estate &#x2013; investment property</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,529</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>291</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>615</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,578</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(706</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>610</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,761</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>244</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Other invested assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>16,203</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(1,168</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,926</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,636</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(841</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(35</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,112</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>17,562</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(434</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>28,732</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(877</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,541</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4,214</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(841</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(741</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,722</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>28,323</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(190</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Segregated funds net assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,255</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>226</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>155</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(367</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(17</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>191</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,447</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>161</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;34,101</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(644</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;4,999</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(4,754</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(880</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(915</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,991</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;33,903</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(36</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="47%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Balance,<br />
 January&#xA0;1,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net<br />
 realized/<br />
 unrealized<br />
 gains<br />
 (losses)<br />
 included<br />
 in net<br />
 income<sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net<br />
 realized/<br />
 unrealized<br />
 gains<br />
 (losses)<br />
 included<br />
 in AOCI<sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Purchases</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Sales</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Settlements</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Transfer</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">into</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Level&#xA0;3<sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Transfer</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">out of</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Level&#xA0;3<sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Currency<br />
 movement</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Balance,<br />
 December&#xA0;31,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Change in<br />
 unrealized<br />
 gains<br />
 (losses) on<br />
 assets still<br />
 held</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Debt securities</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
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 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>FVTPL</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
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 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
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 <td valign="bottom"></td>
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 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other government&#xA0;&amp; agency</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">272</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(3</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">26</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(58</td>
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 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(6</td>
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 <td valign="bottom" nowrap="nowrap">$</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">239</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(3</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">651</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">105</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(34</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(29</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">24</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(21</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(5</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">710</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td valign="bottom" align="right">(1</td>
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 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
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 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(5</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
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 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other securitized assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">35</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(7</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">25</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">966</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">15</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">131</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(97</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(43</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">24</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(21</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">975</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>AFS</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other government&#xA0;&amp; agency</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">51</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(15</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">74</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(10</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">88</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Residential mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Commercial mortgage/asset-backed securities</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other securitized assets</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">130</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">36</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(26</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(8</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">136</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Public equities</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
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 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
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 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">7</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(4</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">7</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(4</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Real estate &#x2013; investment property</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,756</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">301</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,257</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,267</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(518</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">264</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Other invested assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">14,849</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">395</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,022</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(435</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(837</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(791</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">16,203</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">244</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">27,605</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">696</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,279</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,702</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(837</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,309</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">28,732</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">508</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Segregated funds net assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,574</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">60</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">261</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(248</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(54</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(184</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(154</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,255</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">45</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7.5pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;33,282</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;770</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;4,707</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(2,077</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(942</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;25</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(205</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(1,460</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;34,101</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;558</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These amounts are included in net investment income on
 the Consolidated Statements of Income except for the amount related
 to segregated funds net assets, where the amount is recorded in
 changes in segregated funds net assets, refer to note&#xA0;22.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These amounts are included in AOCI on the Consolidated
 Statements of Financial Position.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">For assets transferred into and out of Level&#xA0;3,
 the Company uses fair values of the assets at the beginning of the
 year.</p>
 </td>
 </tr>
 </table>


 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutInvestmentPropertyExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about investment property. [Refer: Investment property]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2018-01-01<br> -Paragraph 32A<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2018-03-01&amp;anchor=para_32A&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutInvestmentPropertyExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the fair value measurement of assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of significant inputs for which market data are not available and that are developed using the best information available about the assumptions that market participants would use when measuring the fair value of assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of carrying amount of securitized assets explanatory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of invested assets and segregated funds net assets, measured at fair value explanatory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">mfc_DisclosureOfInvestedAssetsAndSegregatedFundsNetAssetsMeasuredAtFairValueExplanatory</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839349280">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative and Hedging Instruments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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 Foreign currency swaps</p>
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 <td valign="bottom"></td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
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 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>80</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>367</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,757</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">20</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">333</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forward contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>80</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">165</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>101</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">125</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net&#xA0;investment&#xA0;hedges</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency forwards</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,864</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>65</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total derivatives in qualifying hedge accounting relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,489</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>106</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>466</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,679</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">37</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">362</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top" colspan="3">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Derivatives not designated in qualifying hedge</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>accounting relationships</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>300,704</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,204</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,675</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">246,270</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,984</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,251</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,297</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,551</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate options</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,736</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>314</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,093</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">312</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23,156</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>747</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,341</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,321</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">494</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,122</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Currency rate futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,052</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,157</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forward contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>29,248</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>670</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>158</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">20,341</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">915</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">65</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,492</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>653</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>163</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,597</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">813</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit default swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>652</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">606</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity futures</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,908</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">12,158</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total derivatives not designated in qualifying hedge accounting
 relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>410,245</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,597</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7,337</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">334,094</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">15,532</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">7,460</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" colspan="3">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total derivatives</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;414,734</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;13,703</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;7,803</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;336,773</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;15,569</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;7,822</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfGrossNotionalAmountByRemainingTermToMaturityFairValueIncludingAccruedInterestCreditRiskEquivalentAndRiskWeightedAmountByContractTypeExplanatory', window );">Summary of Gross Notional Amount by Remaining Term to Maturity, Total Fair Values (Including Accrued Interest), Credit Risk Equivalent and Risk Weighted Amount by Contract Type</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The following table presents fair values of derivative instruments
 by the remaining term to maturity. The fair values disclosed below
 do not incorporate the impact of master netting agreements. Refer
 to note 9.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="60%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Remaining term to maturity</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Less&#xA0;than</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 to 3</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">3 to 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Over 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Total&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>649</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>671</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>795</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,588</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,703&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>359</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>229</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>227</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,988</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,803&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="16"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="center"><font style="FONT-SIZE: 7pt">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="13" align="center"><font style="FONT-SIZE: 7pt">Remaining
 term to maturity</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font style="FONT-SIZE: 7pt">&#xA0;</font></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Less&#xA0;than<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1 to 3<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">3 to 5<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Over 5<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Total&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">605</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;822</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;889</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;13,253</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;15,569&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">224</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">149</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">168</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">7,281</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">7,822&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 6px">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The following table presents gross notional amount by the remaining
 term to maturity, total fair value (including accrued interest),
 credit risk equivalent and risk-weighted amount by contract
 type.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="35%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center">Remaining term to
 maturity (notional amounts)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Under 1</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 to 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Over</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">5 years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Positive</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Negative</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Net</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Credit&#xA0;risk</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">equivalent<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Risk-&#xA0;&#xA0;&#xA0;&#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">weighted&#xA0;&#xA0;&#xA0;&#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">amount<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup>&#xA0;&#xA0;&#xA0;&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 OTC swap contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,495</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>22,568</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>121,817</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>147,880</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,750</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(6,477</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,273</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,301</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>787&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Cleared swap contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,723</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,140</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>131,480</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>153,343</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>95</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(96</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Forward contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,258</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,300</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>648</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>25,206</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>637</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(126</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>511</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>259</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>37&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,297</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,297</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Options purchased</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,166</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,981</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,589</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>11,736</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>317</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>317</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>376</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>58&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Subtotal</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>34,939</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>57,989</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>259,534</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>352,462</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,799</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(6,699</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,936</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>882&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign exchange</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Swap contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,024</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,281</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,776</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>25,081</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>807</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,736</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(929</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,309</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>256&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Forward contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,926</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>60</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,986</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>54</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(106</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(52</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>108</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,052</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,052</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit derivatives</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>143</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>509</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>652</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Swap contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,728</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>142</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,870</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>29</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(57</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(28</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>303</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>38&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,908</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,908</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Options purchased</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,142</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,581</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,723</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>621</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(118</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>503</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,277</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>316&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Subtotal including accrued interest</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>65,862</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>71,562</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>277,310</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>414,734</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,320</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(8,716</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,604</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,933</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,505&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Less accrued interest</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>617</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(913</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(296</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>65,862</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>71,562</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>277,310</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>414,734</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,703</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7,803</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,900</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,933</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,505&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center">Remaining term to maturity (notional
 amounts)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Under 1</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 to 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Over</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">5 years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Positive</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Negative</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Net</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Credit&#xA0;risk</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">equivalent<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Risk-&#xA0;&#xA0;&#xA0;&#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">weighted&#xA0;&#xA0;&#xA0;&#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">amount<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup>&#xA0;&#xA0;&#xA0;&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 OTC swap contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">7,161</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">19,141</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">112,412</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">138,714</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">13,379</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(6,867</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,512</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,588</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">809&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Cleared swap contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,615</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,928</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">93,561</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">108,104</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">245</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(206</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">39</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Forward contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,036</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,614</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">675</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,325</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">903</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(38</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">865</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">285</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,551</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,551</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Options purchased</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">816</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">3,856</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">5,421</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10,093</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">312</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">312</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">471</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">61&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Subtotal</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">27,179</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">46,539</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">212,069</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">285,787</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14,839</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7,111</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,728</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,344</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">905&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign exchange</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Swap contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">999</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,481</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,682</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,162</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">510</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,483</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(973</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,874</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">200&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Forward contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,046</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">135</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,181</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(31</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(19</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">101</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,157</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,157</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit derivatives</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">38</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">568</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">606</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Swap contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,612</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">169</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,781</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">60</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(14</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">46</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">337</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Futures</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,158</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,158</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Options purchased</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4,693</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">6,148</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">100</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10,941</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">769</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(10</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">759</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,606</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">305&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Subtotal including accrued interest</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">53,882</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">58,040</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">224,851</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">336,773</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,204</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(8,649</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,555</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,262</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 1,457&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Less accrued interest</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">635</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(827</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(192</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;53,882</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;58,040</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;224,851</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;336,773</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;15,569</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(7,822</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;7,747</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;12,262</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,457&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Credit risk equivalent is the sum of replacement cost
 and the potential future credit exposure. Replacement cost
 represents the current cost of replacing all contracts with a
 positive fair value. The amounts take into consideration legal
 contracts that permit offsetting of positions. The potential future
 credit exposure is calculated based on a formula prescribed by
 OSFI.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Risk-weighted amount represents the credit risk
 equivalent, weighted according to the creditworthiness of the
 counterparty, as prescribed by OSFI.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfFairValueSummaryOfDerivativeContractsCategorizedByHierarchyExplanatory', window );">Summary of Fair Value and the Fair Value Hierarchy of Derivative Instruments</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Fair value and the fair value hierarchy of
 derivative instruments</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="65%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Derivative assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest rate contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,155</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,537</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>618</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Foreign exchange contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>886</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>876</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>653</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>621</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>32</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Credit default swaps</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total derivative assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,703</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,043</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>660</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Derivative liabilities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest rate contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,815</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,318</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>497</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Foreign exchange contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,814</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,813</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity contracts</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>174</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>118</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total derivative liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7,803</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7,249</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>554</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;1</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;2</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Level&#xA0;3</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Derivative assets</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest rate contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">14,199</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">13,181</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1,018</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Foreign exchange contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">527</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">527</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">829</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">768</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">61</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Credit default swaps</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">14</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">14</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total derivative assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;15,569</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;14,490</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,079</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Derivative liabilities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Interest rate contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,309</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,012</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">297</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Foreign exchange contracts</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,490</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,490</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity contracts</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">23</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">13</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total derivative liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">7,822</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;7,512</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">310</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfNetDerivativeContractsMeasuredAtFairValueUsingSignificantUnobservableInputsExplanatory', window );">Net Derivative Significant Unobservable Inputs Used in Fair Value Measurement</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The following table presents a roll forward for net derivative
 contracts measured at fair value using significant unobservable
 inputs (Level 3).</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance at the beginning of the year</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>769</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">163</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net realized / unrealized gains (losses) included in:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Net income<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(666</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;1,082</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 OCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(48</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(9</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Purchases</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">22</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Settlements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(103</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Transfers</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Into Level&#xA0;3<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Out of Level&#xA0;3<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(13</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(363</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Currency movement</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>25</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(23</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance at the end of the year</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>106</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">769</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Change in unrealized gains (losses) on instruments still
 held</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(460</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">832</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These amounts are included in investment income on the
 Consolidated Statements of Income.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These amounts are included in AOCI on the Consolidated
 Statements of Financial Position.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">For derivatives transferred into and out of
 Level&#xA0;3, the Company uses the fair value of the items at the
 end and beginning of the period, respectively. Transfers into
 Level&#xA0;3 occur when the inputs used to price the assets and
 liabilities lack observable market data (versus the previous year).
 Transfers out of Level&#xA0;3 occur when the inputs used to price
 the assets and liabilities become available from observable market
 data.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfRecognizedGainsLossesOnDerivativesAndHedgedItemsInFairValueHedgesInInvestmentIncomeExplanatory', window );">Summary of Recognized Gains Losses on Derivatives and Hedged Items in Fair Value Hedges in Investment Income</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company recognizes gains and losses on derivatives and the
 related hedged items in fair value hedges in investment income.
 These investment gains (losses) are shown in the following
 table.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="35%"></td>
 <td valign="bottom" width="5%"></td>
 <td width="36%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Hedged items in qualifying</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 fair value hedging</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 recognized&#xA0;on<br />
 derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 recognized&#xA0;for<br />
 hedged&#xA0;items</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Ineffectiveness&#xA0;&#xA0;&#xA0;&#xA0;<br />
 recognized in&#xA0;&#xA0;&#xA0;&#xA0;<br />
 investment&#xA0;&#xA0;&#xA0;&#xA0;<br />
 income&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(5</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;&#xA0;11</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="2"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Hedged items in qualifying</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 fair value hedging</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 recognized&#xA0;on<br />
 derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 recognized&#xA0;for<br />
 hedged&#xA0;items</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 Ineffectiveness&#xA0;&#xA0;&#xA0;&#xA0;<br />
 recognized in&#xA0;&#xA0;&#xA0;&#xA0;<br />
 investment&#xA0;&#xA0;&#xA0;&#xA0;<br />
 income&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(3</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;(1)&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(17</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;17</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(2</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(17</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">18</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureEffectsOfDerivativesInCashFlowHedgingRelationshipsExplanatory', window );">Summary of Effects of Derivatives in Cash Flow Hedging Relationships</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The effects of derivatives in cash flow hedging relationships on
 the Consolidated Statements of Income and the Consolidated
 Statements of Comprehensive Income are shown in the following
 table.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="32%"></td>
 <td valign="bottom" width="6%"></td>
 <td width="34%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Hedged items in qualifying</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 cash flow hedging</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Gains
 (losses)<br />
 deferred in<br />
 AOCI on<br />
 derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Gains (losses)<br />
 reclassified<br />
 from&#xA0;AOCI&#xA0;into<br />
 investment<br />
 income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Ineffectiveness&#xA0;&#xA0;&#xA0;&#xA0;<br />
 recognized in&#xA0;&#xA0;&#xA0;&#xA0;<br />
 investment&#xA0;&#xA0;&#xA0;&#xA0;<br />
 income&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forecasted liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(20</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Floating rate liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(36</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(62</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>60</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>62</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forward contracts</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forecasted expenses</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Stock-based compensation</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(21</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(5</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="2"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Hedged items in qualifying</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 cash flow hedging</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 relationships</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Gains (losses)<br />
 deferred in<br />
 AOCI on<br />
 derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gains (losses)<br />
 reclassified<br />
 from&#xA0;AOCI&#xA0;into<br />
 investment<br />
 income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 Ineffectiveness&#xA0;&#xA0;&#xA0;&#xA0;<br />
 recognized in&#xA0;&#xA0;&#xA0;&#xA0;<br />
 investment&#xA0;&#xA0;&#xA0;&#xA0;<br />
 income&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forecasted liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(17</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Floating rate liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">95</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;50</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed rate liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forward contracts</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forecasted expenses</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(10</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 Stock-based compensation</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;20</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">29</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">163</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">58</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfEffectsOfDerivativesInNetInvestmentHedgingRelationshipsExplanatory', window );">Summary of Effects of Net Investment Hedging Relationships</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The effects of net investment hedging relationships on the
 Consolidated Statements of Income and the Consolidated Statements
 of Other Comprehensive Income are shown in the following table.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="89%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 deferred&#xA0;in&#xA0;AOCI<br />
 on derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Gains&#xA0;(losses)<br />
 reclassified&#xA0;from<br />
 AOCI into<br />
 investment&#xA0;income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Ineffectiveness<br />
 recognized in<br />
 investment<br />
 income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <font style="WHITE-SPACE: nowrap">Non-functional</font> currency
 denominated debt</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(469</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency forward</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(460</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gains (losses)<br />
 deferred in AOCI<br />
 on derivatives</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gains (losses)<br />
 reclassified from<br />
 AOCI into<br />
 investment income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Ineffectiveness<br />
 recognized in<br />
 investment<br />
 income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <font style="WHITE-SPACE: nowrap">Non-functional</font> currency
 denominated debt</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;355</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">355</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfEffectsOfDerivativesNotDesignatedInQualifyingHedgeAccountingRelationshipsExplanatory', window );">Summary of Investment Income on Derivatives Not Designated in Qualifying Hedge Accounting Relationships</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Investment income on derivatives not designated in qualifying hedge
 accounting relationships</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,894</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(927</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(298</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">372</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest rate options</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(52</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(96</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign currency swaps</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(122</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Currency rate futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(92</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forward contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(355</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity futures</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;742</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,190</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity contracts</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(276</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">153</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit default swaps</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(6</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(4</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,258)</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(1,024</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
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 </div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Current tax</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Current year</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(327</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">608</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Adjustments to prior year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>29</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(38</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(298</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">570</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Deferred tax</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Change related to temporary differences</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(803</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of U.S. Tax Reform</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(320</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">472</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income tax expense</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;632</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;239</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Income tax expenses (recovery) recognized in Other Comprehensive
 Income</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="82%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Current income tax expense (recovery)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">116</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deferred income tax expense (recovery)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(148</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">320</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income tax expense (recovery)</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(146</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;436</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Income tax expenses (recovery) recognized directly in Equity</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Current income tax expense (recovery)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deferred income tax expense (recovery)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(2</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income tax expense (recovery)</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;(1</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(2</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfIncomeTaxExpenseReconciliationShowingEffectiveIncomeTaxExpenseDifferenceFromStatutoryIncomeTaxExpenseExplanatory', window );">Summary of Reconciliation of Income Tax Expense</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The effective income tax rate reflected in the Consolidated
 Statements of Income varies from the Canadian tax rate of
 26.75&#xA0;per cent for the year ended December&#xA0;31, 2018 (2017
 &#x2013; 26.75 per cent) due to the following reasons.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Reconciliation of income tax
 expense</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income before income taxes</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;5,519</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">&#xA0;&#xA0;2,501</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income tax expense at Canadian statutory tax rate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,476</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">669</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Increase (decrease) in income taxes due to:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Tax-exempt</font>&#xA0;investment
 income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(200</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(242</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Differences in tax rate on income not subject to tax in Canada</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(391</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(551</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Adjustments to taxes related to prior years</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(71</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(182</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of U.S. Tax Reform</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(320</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">472</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other differences</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>138</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">73</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income tax expense</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>632</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">239</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <br class="Apple-interchange-newline" />

 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSummarizedDeferredTaxesExplanatory', window );">Summary of Deferred Tax Assets and Liabilities</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The following table presents the Company&#x2019;s deferred tax
 assets and liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December 31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deferred tax assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,318</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,569</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deferred tax liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,814</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(1,281</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net deferred tax assets (liabilities)</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;&#xA0;2,504</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;3,288</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDeferredTaxesExplanatory', window );">Components of Deferred Tax Assets and Liabilties</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The following table presents significant components of the
 Company&#x2019;s deferred tax assets and liabilities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="50%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2018</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Recognized<br />
 in Income<br />
 Statement</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Recognized in<br />
 Other<br />
 Comprehensive<br />
 Income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Recognized<br />
 in Equity</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Translation<br />
 and Other</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2018</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loss carry forwards</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>596</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>387</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>29</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,019</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Actuarial liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,878</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,697</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>282</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,466</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Pensions and post-employment benefits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>208</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>242</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Tax credits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>454</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(224</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>31</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>261</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Accrued interest</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,062</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>150</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(46</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(959</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Securities and other investments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,807</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,234</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>136</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(253</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,689</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Sale of investments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(105</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(87</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Goodwill and intangible assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(825</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(40</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(847</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(50</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>157</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(4</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(12</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>97</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;&#xA0;3,288</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(930</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>148</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9)</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,504</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Recognized<br />
 in Income<br />
 Statement</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Recognized in<br />
 Other<br />
 Comprehensive<br />
 Income</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Recognized<br />
 in Equity</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Translation<br />
 and Other</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loss carry forwards</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">942</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(311</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(38</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">596</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Actuarial liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9,366</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,053</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(17</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(418</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,878</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Pensions and post-employment benefits</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">352</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(87</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(54</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(3</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">208</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Tax credits</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">875</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(369</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(52</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">454</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Accrued interest</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(12</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(3</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,396</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">284</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(9</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">59</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,062</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Securities and other investments</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(6,064</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,172</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(239</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(3,807</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Sale of investments</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(163</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">58</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(105</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Goodwill and intangible assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,059</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">197</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">37</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(825</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">210</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(548</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(1</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">287</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(50</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">3,080</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">331</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(320</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;2</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;195</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;3,288</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834591664">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill and Intangible Assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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 <font color="#1F320C"><b>(a) Carrying amounts of goodwill and
 intangible assets</b></font></p>
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 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2018</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Additions/<br />
 disposals<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
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 Amortization<br />
 expense</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Effect&#xA0;of&#xA0;changes<br />
 in foreign<br />
 exchange rates</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Goodwill</b></p>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,713</b></td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(65</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>216</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,864</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Indefinite life intangible assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
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 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
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 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Brand</p>
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 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>753</b></td>
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 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
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 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
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 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Fund management contracts and other<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>755</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>40</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>798</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,508</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>106</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,617</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Finite life intangible assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Distribution networks</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>989</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(133</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>48</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>60</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>868</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Customer relationships</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>899</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>55</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>16</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>860</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Software</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>661</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>275</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>147</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>32</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>821</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>70</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>67</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,619</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>142</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>255</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>110</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,616</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total intangible assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,127</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>145</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>255</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>216</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,233</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total goodwill and intangible assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9,840</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>80</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;255</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>432</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;10,097</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Additions/<br />
 disposals</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Amortization<br />
 expense</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Effect of changes<br />
 in foreign<br />
 exchange rates</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Goodwill</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,884</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">&#xA0;&#xA0;(171</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,713</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Indefinite life intangible assets</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Brand</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">805</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(52</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">753</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Fund management contracts and other<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">785</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(30</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">755</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,590</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(82</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,508</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Finite life intangible assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Distribution networks</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,093</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(57</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">989</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Customer relationships</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">969</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">56</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(14</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">899</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Software</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">494</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">303</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">121</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(15</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">661</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">77</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">70</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,633</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">303</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">229</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(88</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,619</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total intangible assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,223</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">303</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">229</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(170</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,127</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total goodwill and intangible assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;10,107</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">303</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">229</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(341</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">9,840</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">For fund management contracts, the significant CGUs to
 which these were allocated and their associated carrying values
 were U.S. WAM with $400 (2017 &#x2013; $367) and Canada WAM with
 $273 (2017 &#x2013; $273).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Gross carrying amount of finite life intangible assets
 was $1,331 for distribution networks, $1,145 for customer
 relationships, $2,110 for software and $133 for other (2017 &#x2013;
 $1,294, $1,128, $1,841 and $126, respectively).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2018, disposals include $65 of goodwill and $96 of
 distribution networks from the sale of the U.S. broker-dealer
 business, and impairments of distribution networks for discontinued
 products of $27 in U.S. segment and $13 in Asia segment.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillExplanatory', window );">Summary of Impairment Testing of Goodwill</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following tables present the carrying value of goodwill by CGU
 or group of CGUs.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="65%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 CGU or group of CGUs</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Additions/<br />
 disposals</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Effect&#xA0;of<br />
 changes in<br />
 foreign<br />
 exchange<br />
 rates</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asia</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Asia Insurance (excluding Japan)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>154</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>165</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Japan Insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>391</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>44</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>435</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canada Insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,954</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,962</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S. Insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>400</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(65</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>32</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>367</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Global Wealth and Asset Managment</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Asia WAM</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>180</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>16</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>196</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canada WAM</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,436</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,436</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. WAM</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,198</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>105</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,303</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,713</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(65</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>216</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,864</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 CGU or group of CGUs</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 January&#xA0;1,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Additions/<br />
 disposals</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Effect of<br />
 changes&#xA0;in<br />
 foreign<br />
 exchange<br />
 rates</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Balance,<br />
 December&#xA0;31,<br />
 2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asia</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Asia Insurance (excluding Japan)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">160</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(6</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">154</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Japan Insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">403</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(12</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">391</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canada Insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,960</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(6</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,954</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S. Insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">428</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(28</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">400</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Global Wealth and Asset Managment</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Asia WAM</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">194</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(14</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">180</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Canada WAM</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,436</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,436</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 U.S. WAM</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,303</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(105</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,198</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;5,884</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(171</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;5,713</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <br class="Apple-interchange-newline" />

 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the reconciliation of changes in goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2018-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2018-03-01&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of detailed information about goodwill and intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6882581744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance Contract Liabilities and Reinsurance Assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsExplanatory', window );">Summary of Insurance Contract Liabilities and Reinsurance Assets</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The components of gross and net insurance contract liabilities are
 shown below.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 4pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="79%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross insurance contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,737</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">291,767</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross benefits payable and provision for unreported claims</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,398</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,376</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross policyholder amounts on deposit</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,519</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">9,462</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross insurance contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>328,654</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">304,605</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reinsurance assets<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(42,925</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(30,359</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net insurance contract liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;285,729</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;274,246</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCompositionOfInsuranceContractLiabilitiesAndReinsuranceAssetsByLineOfBusinessAndReportingSegmentExplanatory', window );">Summary of Composition of Insurance Contract Liabilities and Reinsurance Assets by Line of Business and Reporting Segment</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The composition of insurance contract liabilities and reinsurance
 assets by the line of business and reporting segment is as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Gross insurance contract
 liabilities</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="43%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
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 <td></td>
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 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">Individual
 insurance</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Participating</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><font style="WHITE-SPACE: nowrap">Non-</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">participating</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Annuities<br />
 and<br />
 pensions</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Other<br />
 insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total,
 net of<br />
 reinsurance<br />
 ceded</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Total<br />
 reinsurance<br />
 ceded</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total,</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">gross of<br />
 reinsurance<br />
 ceded</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asia</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>38,470</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>29,547</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,062</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,048</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>76,127</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,332</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>77,459</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canada</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,743</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>34,677</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>18,339</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,869</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>76,628</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(202</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>76,426</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S.</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,673</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>63,412</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,125</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>44,932</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>133,142</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>41,695</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>174,837</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate and Other</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(601</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>46</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>387</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(168</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>100</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(68</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, net of reinsurance ceded</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>57,886</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>127,035</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>39,572</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>61,236</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>285,729</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>42,925</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>328,654</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total reinsurance ceded</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>11,596</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,303</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>17,927</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,099</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>42,925</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, gross of reinsurance ceded</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;69,482</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;139,338</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;57,499</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;62,335</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;328,654</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td bgcolor="#FFFFFF" height="16" colspan="8"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#FFFFFF" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#FFFFFF" valign="bottom" colspan="6" align="center">Individual
 insurance</td>
 <td bgcolor="#FFFFFF" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Participating</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><font style="WHITE-SPACE: nowrap">Non-</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">participating</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Annuities<br />
 and<br />
 pensions</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<br />
 insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total, net of<br />
 reinsurance<br />
 ceded</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total<br />
 reinsurance<br />
 ceded</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total,</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">gross of<br />
 reinsurance<br />
 ceded</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asia</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">32,737</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">22,705</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,366</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,435</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">62,243</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">911</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">63,154</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canada</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">34,091</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,141</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,834</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">76,198</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(676</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">75,522</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S.</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8,569</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">57,599</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">26,161</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">43,522</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">135,851</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">29,952</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">165,803</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Corporate and Other</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(515</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">48</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">421</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(46</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">172</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">126</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, net of reinsurance ceded</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">52,438</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">113,880</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">49,716</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">58,212</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">274,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">30,359</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">304,605</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total reinsurance ceded</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">11,492</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">11,238</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">6,539</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,090</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">30,359</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, gross of reinsurance ceded</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">63,930</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">125,118</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">56,255</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">59,302</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">304,605</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other insurance contract liabilities include group
 insurance and individual and group health including long-term care
 insurance.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCarryingValueOfAssetsBackingNetInsuranceContractLiabilitiesOtherLiabilitiesAndCapitalExplanatory', window );">Summary of Carrying Value of Assets Backing Net Insurance Contract Liabilities, Other Liabilities and Capital</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the carrying value of assets backing
 net insurance contract liabilities, other liabilities and
 capital.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="45%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">Individual
 insurance</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Participating</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><font style="WHITE-SPACE: nowrap">Non-</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">participating</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Annuities<br />
 and pensions</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Capital<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>67,387</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>20,469</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>28,435</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,061</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>28,308</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>185,594</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,416</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,562</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>172</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>262</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>589</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,178</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,218</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,111</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,972</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,732</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>21,295</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>35</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,363</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,151</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,131</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,960</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,581</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,772</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>159</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,754</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,106</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,028</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,799</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>397</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>233</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,777</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9,061</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>22,816</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,785</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,427</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>374,418</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>23,097</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>448,604</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;57,886</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;127,035</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;39,572</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;61,236</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;408,532</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;56,010</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;750,271</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td bgcolor="#FFFFFF" height="16" colspan="8"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#FFFFFF" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#FFFFFF" valign="bottom" colspan="6" align="center">Individual
 insurance</td>
 <td bgcolor="#FFFFFF" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Participating</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><font style="WHITE-SPACE: nowrap">Non-</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">participating</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Annuities<br />
 and pensions</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Capital<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;27,946</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">63,128</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">26,621</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">25,211</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,635</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">24,459</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">174,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Public equities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9,264</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,855</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">171</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">332</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,029</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,894</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">21,545</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,017</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,286</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,009</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,891</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,476</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">63</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">44,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,645</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,128</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8,059</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,739</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">367</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">194</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">32,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,963</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,198</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,136</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,516</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">769</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">228</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,810</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">6,603</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">16,285</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">6,720</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">15,523</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">377,352</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">20,821</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">443,304</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">52,438</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;113,880</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;49,716</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;58,212</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;404,628</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;50,659</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;729,533</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other insurance contract liabilities include group
 insurance and individual and group health including long-term care
 insurance.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other liabilities are&#xA0;<font style="WHITE-SPACE: nowrap">non-insurance</font>&#xA0;contract
 liabilities which include segregated funds, bank deposits,
 long-term debt, deferred tax liabilities, derivatives, investment
 contracts, embedded derivatives and other miscellaneous
 liabilities.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Capital is defined in note 13.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersArisingFromChangesToNoneconomicAssumptionsExplanatory', window );">Summary of Potential Impact on Net Income Attributed to Shareholders Arising From Changes to Non-economic Assumptions</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders arising from changes
 to&#xA0;<font style="WHITE-SPACE: nowrap">non-economic</font>&#xA0;assumptions<sup style="FONT-SIZE: 10px; VERTICAL-ALIGN: top">(1)</sup></b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="87%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" rowspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Decrease in net income<br />
 attributed to shareholders</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Policy related assumptions</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2% adverse change in future mortality rates<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2),(4)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Products where an increase in rates increases insurance contract
 liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(400</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Products where a decrease in rates increases insurance contract
 liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(500</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5% adverse change in future morbidity rates (incidence and
 termination)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3),(4),(5)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;(4,800</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;(5,100</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 10% adverse change in future policy termination rates<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,200</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,100</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5% increase in future expense levels</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(600</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(500</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes
 in&#xA0;<font style="WHITE-SPACE: nowrap">non-economic</font>&#xA0;assumptions.
 Experience gains or losses would generally result in changes to
 future dividends, with no direct impact to shareholders.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">An increase in mortality rates will generally increase
 policy liabilities for life insurance contracts whereas a decrease
 in mortality rates will generally increase policy liabilities for
 policies with longevity risk such as payout annuities.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">No amounts related to morbidity risk are included for
 policies where the policy liability provides only for claims costs
 expected over a short period, generally less than one year, such as
 Group Life and Health.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impacts of the adverse sensitivities on LTC for
 morbidity, mortality and lapse do not assume any partial offsets
 from the Company&#x2019;s ability to contractually raise premium
 rates in such events, subject to state regulatory approval. In
 practice, the Company would plan to file for rate increases equal
 to the amount of deterioration resulting from the sensitivity.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">This includes a 5% deterioration in incidence rates
 and 5% deterioration in claim termination rates.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfAnnualReviewOfActuarialMethodsAndAssumptionsExplanatory', window );">Summary of Actuarial Methods and Assumptions</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The completion of the 2018 annual review of actuarial methods and
 assumptions resulted in a decrease in insurance contract
 liabilities of $174, net of reinsurance, and a decrease in net
 income attributed to shareholders of $51 <font style="WHITE-SPACE: nowrap">post-tax.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="86%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Change in insurance contract liabilities,<br />
 net of reinsurance</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Attributed to<br />
 participating<br />
 policyholders&#x2019;<br />
 account</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Attributed to<br />
 shareholders&#x2019;<br />
 account</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Change&#xA0;in&#xA0;net<br />
 income&#xA0;attributed<br />
 to shareholders<br />
 <font style="WHITE-SPACE: nowrap">(post-tax)</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortality and morbidity updates</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;319</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;(192</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;511</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;(360</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Lapses and policyholder behaviour</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>287</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>287</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(226</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment return assumptions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(96</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>50</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(146</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>143</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other updates</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(684</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(94</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(590</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>392</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net impact</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>$&#xA0;&#xA0;&#xA0;(174</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>$&#xA0;&#xA0;(236</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;62</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;(51</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="85%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="10" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Change in insurance contract liabilities,</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">net of reinsurance</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Attributed to<br />
 participating<br />
 policyholders&#x2019;<br />
 account</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Attributed to<br />
 shareholders&#x2019;<br />
 account</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Change&#xA0;in&#xA0;net<br />
 income&#xA0;attributed<br />
 to shareholders<br />
 <font style="WHITE-SPACE: nowrap">(post-tax)</font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortality and morbidity updates</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(254</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;9</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(263</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;299</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Lapses and policyholder behaviour</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;1,019</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,019</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(783</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other updates</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 ALDA and public equity investment return assumptions</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,296</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;1,291</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(892</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Corporate spread assumptions</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(515</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(514</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">344</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Refinements to liability and tax cash flows</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,049</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,049</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">696</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(220</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">84</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(304</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">301</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net impact</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">277</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;&#xA0;97</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;180</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;&#xA0;(35</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractsContractualObligationsExplanatory', window );">Summary of Insurance Contract Liabilities, Payments Due by Period</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 As at December&#xA0;31, 2018, the Company&#x2019;s contractual
 obligations and commitments relating to insurance contracts are as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="63%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>Payments due by period</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Less&#xA0;than<br />
 1 year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 to 3</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">3 to 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Over 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Insurance contract liabilities<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;9,327</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;10,863</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;17,994</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;750,238</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;788,422</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Insurance contract liability cash flows include
 estimates related to the timing and payment of death and disability
 claims, policy surrenders, policy maturities, annuity payments,
 minimum guarantees on segregated fund products, policyholder
 dividends, commissions and premium taxes offset by contractual
 future premiums on <font style="WHITE-SPACE: nowrap">in-force</font> contracts. These estimated
 cash flows are based on the best estimate assumptions used in the
 determination of insurance contract liabilities. These amounts are
 undiscounted and reflect recoveries from reinsurance agreements.
 Due to the use of assumptions, actual cash flows may differ from
 these estimates. Cash flows include embedded derivatives measured
 separately at fair value.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfGrossClaimsAndBenefitsExplanatory', window );">Summary of Gross Claims and Benefits</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The following table presents a breakdown of gross claims and
 benefits.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="92%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Death, disability and other claims</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,174</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">14,871</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Maturity and surrender benefits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,722</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,302</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuity payments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,262</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,470</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policyholder dividends and experience rating refunds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,809</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,085</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net transfers from segregated funds</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,089</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(1,734</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;27,878</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;24,994</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ContractualMaturitiesAssumptionsAxis=mfc_LongTermCareMember', window );">Long term care [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersArisingFromChangesToNoneconomicAssumptionsExplanatory', window );">Summary of Potential Impact on Net Income Attributed to Shareholders Arising From Changes to Non-economic Assumptions</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders arising from changes to <font style="WHITE-SPACE: nowrap">non-economic</font> assumptions for Long-Term
 Care included in the above table<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1),(2)</sup></b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="91%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Decrease&#xA0;in&#xA0;net&#xA0;income<br />
 attributed&#xA0;to&#xA0;shareholders</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Policy related assumptions</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2% adverse change in future mortality rates</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(200</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5% adverse change in future morbidity incidence rates</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,700</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5% adverse change in future morbidity claims termination rates</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,800</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 10% adverse change in future policy termination rates</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(400</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5% increase in future expense levels</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(100</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impacts of the adverse sensitivities on LTC for
 morbidity, mortality and lapse do not assume any partial offsets
 from the Company&#x2019;s ability to contractually raise premium
 rates in such events, subject to state regulatory approval. In
 practice, the Company would plan to file for rate increases equal
 to the amount of deterioration resulting from the
 sensitivities.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impact of favourable changes to all the
 sensitivities is relatively symmetrical.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember', window );">Life insurance contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory', window );">Summary of Change in Insurance Contract Liabilities</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The change in insurance contract liabilities was a result of the
 following business activities and changes in actuarial
 estimates.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="60%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net&#xA0;actuarial<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Other<br />
 insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net<br />
 insurance<br />
 contract<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Reinsurance<br />
 assets</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Gross<br />
 insurance<br />
 contract<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>263,091</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,155</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>274,246</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,359</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>304,605</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 New policies<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,269</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,269</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>388</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,657</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Normal&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;movement<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,044</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>985</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,029</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,150</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,879</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in methods and assumptions<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(173</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(174</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(608</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(782</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of annuity coinsurance transactions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(11,156</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(11,156</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,156</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>15,686</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>829</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>16,515</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,780</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>19,295</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>272,761</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,968</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>285,729</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>42,925</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>328,654</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net actuarial<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Other<br />
 insurance<br />
 contract<br />
 liabilities<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net<br />
 insurance<br />
 contract<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Reinsurance<br />
 assets</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Gross<br />
 insurance<br />
 contract<br />
 liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">251,738</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">10,815</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">262,553</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">34,952</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">297,505</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 New policies<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,545</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,545</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">441</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,986</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Normal&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;movement<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,192</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">930</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,122</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(3,097</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,025</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in methods and assumptions<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">305</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(28</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">277</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of U.S. Tax Reform<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3),(4)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Increase due to decision to change the portfolio asset mix
 supporting legacy businesses<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,340</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,340</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">43</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,383</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(11,275</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(562</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(11,837</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(2,027</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(13,864</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;263,091</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;11,155</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;274,246</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;30,359</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;304,605</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 2px; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other insurance contract liabilities are comprised of
 benefits payable and provision for unreported claims and
 policyholder amounts on deposit.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2018, the $2,907 increase reported as the change in
 insurance contract liabilities on the Consolidated Statements of
 Income primarily consists of changes due to normal in-force
 movement, new policies and changes in methods and assumptions.
 These three items in the gross insurance contract liabilities were
 netted off by an increase of $4,754, of which $3,632 is included in
 the Consolidated Statements of Income increase in insurance
 contract liabilities and $1,122 is included in gross claims and
 benefits. The Consolidated Statements of Income change in insurance
 contract liabilities also includes the change in embedded
 derivatives associated with insurance contracts. The Company
 finalized its estimate of U.S. Tax reform which resulted in a
 $196&#xA0;<font style="WHITE-SPACE: nowrap">pre-tax</font>&#xA0;($154&#xA0;<font style="WHITE-SPACE: nowrap">post-tax)</font>&#xA0;increase
 in insurance contract liabilities, refer to note 5.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2017, the $20,023 increase reported as the change
 in insurance contract liabilities on the Consolidated Statements of
 Income primarily consists of changes due to
 normal&#xA0;<font style="WHITE-SPACE: nowrap">in-force</font>&#xA0;movement,
 new policies, changes in methods and assumptions, the impact of
 U.S. Tax Reform and the increase due to the decision to change the
 portfolio asset mix supporting legacy businesses. These five items
 in the gross insurance contract liabilities were netted off by an
 increase of $20,964, of which $20,212 is included in the
 Consolidated Statements of Income increase in insurance contract
 liabilities and $752 is included in gross claims and benefits. The
 Consolidated Statements of Income change in insurance contract
 liabilities also includes the change in embedded derivatives
 associated with insurance contracts.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2017, the impact of U.S. Tax Reform, which includes
 the lowering of the U.S. corporate tax rate from 35% to 21% and
 limits on the tax deductibility of reserves, resulted in a
 $2,246&#xA0;<font style="WHITE-SPACE: nowrap">pre-tax</font>&#xA0;($1,774&#xA0;<font style="WHITE-SPACE: nowrap">post-tax)</font>&#xA0;increase
 in policy liabilities due to the impact of temporary tax timing and
 permanent tax rate differences on the cash flows available to
 satisfy policyholder obligations. The $472 deferred tax impact on
 this increase in policy liabilities, together with the impact of
 U.S. Tax Reform on the Company&#x2019;s deferred tax assets and
 liabilities is included in note&#xA0;5.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2017, the decision to reduce the allocation to ALDA
 in the portfolio asset mix supporting the Company&#x2019;s North
 American legacy businesses resulted in an increase in policy
 liabilities due to the impact on future expected investment income
 on assets supporting the policies.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834742656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investment Contract Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCarryingValueOfInvestmentContractLiabilitiesMeasuredAtFairValueExplanatory', window );">Summary of Movement in Investment Contract Liabilities Measured at Fair Value</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The following table presents the movement in investment contract
 liabilities measured at fair value during the year.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="80%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>639</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">631</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 New policies</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>96</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">50</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in market conditions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>76</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">76</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redemptions, surrenders and maturities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(86</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(72</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>57</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(46</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;782</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;639</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentContractLiabilitiesMeasuredAtAmortizedCostAndFairValueAssociatedWithTheseContractsExplanatory', window );">Summary of Investment Contract Liabilities Measured at Amortized Cost and Fair Value Associated with these Contracts</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Carrying value and fair value of investment contract liabilities
 measured at amortized cost.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="86%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="8"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Amortized<br />
 cost, gross of<br />
 reinsurance<br />
 ceded<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Amortized</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">cost, gross of<br />
 reinsurance<br />
 ceded<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S. fixed annuity products</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,357</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,449</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;&#xA0;&#xA0;$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;1,282</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;1,433</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canadian fixed annuity products</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,126</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,269</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,205</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,354</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Investment contract liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;&#xA0;&#xA0;&#xA0;$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,483</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,718</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;&#xA0;&#xA0;$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,487</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,787</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">During the year, investment contract labilities with
 the carrying value and fair value of $128 and $130, respectively
 (2017 &#x2013; $nil and $nil, respectively), were reinsured by the
 Company. As at December&#xA0;31, 2018, the net carrying value and
 fair value of investment contracts labilities were $2,355 and
 $2,588, respectively.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentContractLiabilitiesMeasuredAtAmortizedCostExplanatory', window );">Summary of Changes in Investment Contract Liabilities Measured at Amortized Cost</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The changes in investment contract liabilities measured at
 amortized cost was a result of the following business
 activities.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="81%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;2,487</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;2,644</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy deposits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">68</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>82</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">100</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Withdrawals</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(201</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(232</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>110</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(91</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,483</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,487</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfContractualObligationsAndCommitmentsRelatingToInvestmentContractsExplanatory', window );">Summary of Contractual Obligations and Commitments Relating to Investment Contracts</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 As at December&#xA0;31, 2018, the Company&#x2019;s contractual
 obligations and commitments relating to the investment contracts
 are as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="58%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>Payments due by period</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Less
 than<br />
 1 year</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">1 to 3</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">3 to 5</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Over 5<br />
 years</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment contract liabilities<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;193</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;492</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;476</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;4,312</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;5,473</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Due to the nature of the products, the timing of net
 cash flows may be before contract maturity. Cash flows are
 undiscounted.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of carrying value of investment contract liabilities measured at fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of investment contract liabilities measured at amortized cost and fair value associated with these contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872485104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCreditRiskExposureExplanatory', window );">Summary of Gross Carrying Amount of Financial Instruments Subject to Credit Exposure</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The following table presents the gross carrying amount of financial
 instruments subject to credit exposure, without considering any
 collateral held or other credit enhancements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="80%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;154,737</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;147,024</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,857</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">26,976</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>48,363</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">44,742</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,754</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">32,132</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Policy loans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,446</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,808</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Loans to Bank clients</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,793</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,737</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,703</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,569</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Accrued investment income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,427</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,182</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reinsurance assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>43,053</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">30,359</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other financial assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">5,253</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;341,933</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;311,782</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SummaryOfCreditQualityAndCarryingValueOfCommercialMortgageAndPrivatePlacementTextBlock', window );">Summary of Credit Quality and Carrying Value of Commercial Mortgages and Private Placements</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Credit quality of commercial mortgages and private placements.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="46%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">AAA</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">AA</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">A</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">BBB</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">BB</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">B&#xA0;and&#xA0;lower</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Commercial mortgages</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Retail</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>82</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,524</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,459</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,227</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>74</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,377</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Office</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,495</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,454</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,650</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>45</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,706</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Multi-family residential</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>613</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,427</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,407</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>839</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,323</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Industrial</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>36</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>366</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,953</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>339</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>120</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,814</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>289</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>334</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>1,167</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>1,191</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>14</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" align="right"><b>2,995</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt; TEXT-INDENT: -1em">
 <b>Total commercial mortgages</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>1,076</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>5,146</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>15,440</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>6,246</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>213</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>94</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt" align="right"><b>28,215</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 11pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Agricultural mortgages</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>163</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>389</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>552</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,143</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,968</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,304</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14,055</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>733</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,551</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>35,754</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;2,219</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;10,277</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;28,744</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;20,690</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>946</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;1,645</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;64,521</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">AAA</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">AA</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">A</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">BBB</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">BB</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">B&#xA0;and&#xA0;lower</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Commercial mortgages</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Retail</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">110</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1,517</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,363</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,050</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">44</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">57</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">8,141</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Office</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">57</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,272</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,635</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,647</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">70</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">28</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,709</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Multi-family residential</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">523</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,395</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,805</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">726</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,449</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Industrial</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">33</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">386</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,542</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">477</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">145</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,583</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right">362</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right">331</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right">1,012</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right">973</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right">14</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" align="right">2,692</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total commercial mortgages</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,085</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4,901</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">13,357</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">5,873</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">273</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">85</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">25,574</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Agricultural mortgages</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">159</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">405</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">25</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">589</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,038</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4,246</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">11,978</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">13,160</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">717</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">993</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">32,132</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,123</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">9,306</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">25,335</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">19,438</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,015</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">1,078</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">58,295</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsThatAreEitherPastDueOrImpairedExplanatory', window );">Summary of Carrying Value of Past Due but Not Impaired and Impaired Financial Assets</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Past due but not impaired and impaired
 financial assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="73%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Past due but not impaired</p>
 </td>
 <td style="BORDER-BOTTOM: #000000 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Less&#xA0;than<br />
 90 days</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">90 days<br />
 and&#xA0;greater</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Total<br />
 impaired</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>39</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>15</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>15</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em">
 Mortgages and loans to Bank clients</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>70</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>70</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>120</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other financial assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>77</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>26</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>103</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;176</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;28</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;204</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;179</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="12"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center">Past due but not impaired</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Less than<br />
 90 days</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">90 days<br />
 and greater</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Total<br />
 impaired</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 FVTPL</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">45</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AFS</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">104</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">106</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">363</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">363</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages and loans to Bank clients</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">76</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">92</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">86</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other financial assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">46</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">26</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">72</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">589</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">44</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">633</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">173</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AnalysisOfFinancialAssetsThatAreIndividuallyDeterminedToBeImpaired', window );">Summary of Company's Loans That are Considered Impaired</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Impaired loans</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="71%"></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Gross<br />
 carrying<br />
 value</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Allowances&#xA0;for<br />
 loan&#xA0;losses</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Net&#xA0;carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -3em">
 Private placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>61</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>43</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages and loans to Bank clients</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>172</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>52</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>120</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;233</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;95</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;138</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gross<br />
 carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Allowances for<br />
 loan losses</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Net carrying<br />
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private placements</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">79</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">39</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">40</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Mortgages and loans to Bank clients</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">132</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">46</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">86</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">211</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">85</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">126</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsExplanatory', window );">Summary of Reconciliation of Allowance for Loan Losses</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Allowance for loan losses</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="45%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="12"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="12"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="10" align="center">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br /></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Private<br />
 placements</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br /></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Mortgages<br />
 and&#xA0;loans&#xA0;to<br />
 Bank clients</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br /></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Private<br />
 placements</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;<br />
 <br /></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Mortgages<br />
 and&#xA0;loans&#xA0;to<br />
 Bank clients</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>39</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>46</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>85</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">92</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">26</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;118</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Provisions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>55</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">33</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Recoveries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(36</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(12</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(13</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Write-offs<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(6</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(43</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(12</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(55</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;43</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;52</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;95</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;39</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;46</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">85</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes disposals and impact of changes in foreign
 exchange rates.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationAboutCreditExposuresDesignatedAsMeasuredAtFairValueThroughProfitOrLossExplanatory', window );">Summary of Credit Default Swap Protection Sold</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents details of the credit default swap
 protection sold by type of contract and external agency rating for
 the underlying reference security.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="74%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Notional<br />
 amount<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Weighted<br />
 average<br />
 maturity</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;years)<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Single name CDSs<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)&#xA0;</sup>&#x2013;
 Corporate debt</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 AA</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>25</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 A</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>447</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 BBB</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>180</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 Total single name CDSs</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>652</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>9</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>2</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total CDS protection sold</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>652</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>9</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>2</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="13"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Notional<br />
 amount<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Fair value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Weighted<br />
 average<br />
 maturity</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;years)<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Single name CDSs<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)&#xA0;</sup>&#x2013;
 Corporate debt</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 AAA</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">13</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 AA</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 A</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">408</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 BBB</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">150</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 Total single name CDSs</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">&#xA0;&#xA0;606</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">&#xA0;&#xA0;14</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">3</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total CDS protection sold</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">&#xA0;&#xA0;606</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">&#xA0;&#xA0;14</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">3</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)&#xA0;</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Notional amounts represent the maximum future payments
 the Company would have to pay its counterparties assuming a default
 of the underlying credit and zero recovery on the underlying issuer
 obligation.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)&#xA0;</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The weighted average maturity of the CDS is weighted
 based on notional amounts.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)&#xA0;</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Rating agency designations are based on S&amp;P where
 available followed by Moody&#x2019;s, DBRS, and Fitch. If no rating
 is available from a rating agency, an internally developed rating
 is used.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOffsettingOfFinancialAssetsAndFinancialLiabilitiesExplanatory', window );">Summary of Effect of Conditional Master Netting and Similar Arrangements</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The following table presents the effect of conditional master
 netting and similar arrangements. Similar arrangements may include
 global master repurchase agreements, global master securities
 lending agreements, and any related rights to financial
 collateral.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="45%"></td>
 <td valign="bottom" width="7%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">
 Related&#xA0;amounts&#xA0;not&#xA0;set&#xA0;off&#xA0;in&#xA0;the<br />

 Consolidated&#xA0;Statements&#xA0;of<br />
 Financial Position</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 Gross&#xA0;amounts&#xA0;of<br />
 financial&#xA0;instruments<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Amounts&#xA0;subject&#xA0;to<br />
 an enforceable<br />
 master netting<br />
 arrangement or<br />
 similar agreements</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Financial and<br />
 cash&#xA0;collateral<br />
 pledged<br />
 (received)<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Net&#xA0;amount<br />
 including<br />
 financing<br />
 trusts<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Net&#xA0;amounts<br />
 excluding<br />
 financing<br />
 trusts</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financial assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,320</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(6,644</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(7,431</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Securities lending</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,518</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,518</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reverse repurchase agreements</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>63</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(63</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total financial assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>&#xA0;&#xA0;15,901</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>(6,707</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>(8,949</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>&#xA0;&#xA0;&#xA0;245</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>&#xA0;&#xA0;245</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financial liabilities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(8,716</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;6,644</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;1,868</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(204</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(33</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Repurchase agreements</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(64</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>63</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total financial liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>(8,780</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>6,707</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>1,869</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>(204</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right"><b>(33</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 <b>)&#xA0;</b></p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="45%"></td>
 <td valign="bottom" width="7%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="8"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">Related&#xA0;amounts&#xA0;not
 set&#xA0;off&#xA0;in&#xA0;the<br />
 Consolidated Statements of<br />
 Financial Position</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Gross amounts of<br />
 financial&#xA0;instruments<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Amounts subject to<br />
 an enforceable<br />
 master netting<br />
 arrangement or<br />
 similar agreements</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Financial and<br />
 cash&#xA0;collateral<br />
 pledged<br />
 (received)<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Net&#xA0;amount<br />
 including<br />
 financing<br />
 trusts<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Net&#xA0;amounts<br />
 excluding<br />
 financing<br />
 trusts</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financial assets</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">16,204</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(6,714</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(9,395</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">95</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">95</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Securities lending</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,563</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,563</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reverse repurchase agreements</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">230</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(46</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(184</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total financial assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">&#xA0;&#xA0;17,997</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">(6,760</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">(11,142</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">95</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">95</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financial liabilities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivative liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(8,649</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;6,714</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;1,718</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;(217</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;(30</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Repurchase agreements</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(228</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">46</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">182</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -1em">
 <b>Total financial liabilities</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">(8,877</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">6,760</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">1,900</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">(217</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt" align="right">(30</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 13pt">
 )&#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Financial assets and liabilities include accrued
 interest of $621 and $913, respectively (2017 &#x2013; $638 and
 $827, respectively).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Financial and cash collateral exclude
 over-collateralization. As at December&#xA0;31, 2018, the Company
 was over-collateralized on OTC derivative assets, OTC derivative
 liabilities, securities lending and reverse purchase agreements and
 repurchase agreements in the amounts of $417, $405, $80 and $nil,
 respectively (2017 &#x2013; $743, $382, $79 and $nil, respectively).
 As at December&#xA0;31, 2018, collateral pledged (received) does
 not include <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">collateral-in-transit</font></font> on OTC
 instruments or initial margin on exchange traded contracts or
 cleared contracts.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes derivative contracts entered between the
 Company and its financing trusts which it does not consolidate. The
 Company does not exchange collateral on derivative contracts
 entered with these trusts. Refer to note 17.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesExplanatory', window );">Summary of the Effect of Unconditional Netting</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;The following table presents the effect of
 unconditional netting.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="57%"></td>
 <td valign="bottom" width="12%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="11%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right">Gross amounts
 of<br />
 financial&#xA0;instruments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right">Amounts subject
 to<br />
 an enforceable<br />
 netting&#xA0;arrangement</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" colspan="2" align="right">
 Net&#xA0;amounts&#xA0;of<br />
 financial&#xA0;instruments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit linked note<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DBDED8" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DBDED8" valign="bottom"><b>$</b></td>
 <td bgcolor="#DBDED8" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;679</b></td>
 <td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td bgcolor="#DBDED8" valign="bottom"><b>$</b></td>
 <td bgcolor="#DBDED8" valign="bottom" align="right">
 <b>(679</b></td>
 <td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap" align="right"><b>&#xA0;&#xA0;&#xA0;&#x2013;</b></td>
 <td bgcolor="#DBDED8" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Variable surplus note</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" align="right"><b>(679</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;679</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DBDED8" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(120,132,109); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 </div>
 <center style="FONT-SIZE: medium; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <div style="WIDTH: 8.5in" align="left">
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="58%"></td>
 <td valign="bottom" width="12%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="11%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Gross&#xA0;amounts of<br />
 financial&#xA0;instruments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Amounts&#xA0;subject&#xA0;to<br />
 an enforceable<br />
 netting&#xA0;arrangement</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Net amounts of<br />
 financial&#xA0;instruments</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Credit linked note<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">461</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;(461</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Variable surplus note</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">&#xA0;&#xA0;(461</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">461</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2017, the Company entered into a twenty-year
 financing facility with a third party, agreeing to issue variable
 surplus notes in exchange for an equal amount of credit linked
 notes. These notes are held to support JHUSA excess reserves under
 U.S. National Association of Insurance Commissioners&#x2019; Model
 Regulation XXX. In certain scenarios, the credit linked note will
 be drawn upon by the Company which will issue fixed surplus notes
 equal to the draw payment received. The third party has agreed to
 fund any such payment under the credit-linked notes in return for a
 fee. As at December&#xA0;31, 2018, the Company had no fixed surplus
 notes outstanding.</p>
 </td>
 </tr>
 </table>
 </div>
 </center>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfDebtSecuritiesAndPrivatePlacementsPortfolioBySectorAndIndustryExplanatory', window );">Schedule of Distribution of Debt Securities and Private Placements Portfolio by Sector and Industry</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Debt securities and private placements portfolio by sector and
 industry.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="88%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="8"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center">2017</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Carrying&#xA0;value</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">%&#xA0;of&#xA0;total</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Carrying&#xA0;value</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">%&#xA0;of&#xA0;total</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Government and agency</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>73,858</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>33</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">71,888</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">35</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Utilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>41,929</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>19</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40,568</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">20</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Financial</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>31,340</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">27,923</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Energy</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,685</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,428</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Industrial</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,508</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14,691</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Consumer <font style="WHITE-SPACE: nowrap">(non-cyclical)</font></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,483</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14,009</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Consumer (cyclical)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,707</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,916</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Securitized</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,300</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,577</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Telecommunications</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,716</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,324</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Basic materials</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,539</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,248</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Technology</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,352</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,475</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Media and internet</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,112</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,136</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Diversified and miscellaneous</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>819</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">949</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 Total</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;221,348</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>100</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;206,132</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">100</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetGrossAndReinsurersShareForAmountsArisingFromInsuranceContractsExplanatory', window );">Schedule of Geographic Concentration of Insurance and Investment Contract Liabilities, Including Embedded Derivatives</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The geographic concentration of the Company&#x2019;s insurance and
 investment contract liabilities, including embedded derivatives, is
 shown below. The disclosure is based on the countries in which the
 business is written.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="69%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Gross&#xA0;liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Reinsurance<br />
 assets</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net&#xA0;liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 U.S. and Canada</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>246,255</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>(42,634</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>203,621</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 Asia and Other</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>85,830</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>(419</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>85,411</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;332,085</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;(43,053</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;289,032</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Gross liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Reinsurance<br />
 assets</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net liabilities</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 U.S. and Canada</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">237,434</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">(30,225</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">207,209</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 Asia and Other</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">70,521</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">(134</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">70,387</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">307,955</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">(30,359</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">277,596</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=mfc_AssetClassesAndIndividualInvestmentRisksMember', window );">Asset classes and individual investment risks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory', window );">Schedule of Risk Concentrations</a></td>
<td class="text"><div>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="93%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities and private placements rated as investment grade
 BBB or higher<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>98%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">98%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Government debt securities as a per cent of total debt
 securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>38%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">39%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Government private placements as a per cent of total private
 placements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Highest exposure to a single <font style="WHITE-SPACE: nowrap">non-government</font> debt security and
 private placement issuer</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,013</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1,044</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Largest single issuer as a per cent of the total equity
 portfolio</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income producing commercial office properties (2018 &#x2013; 55% of
 real estate, 2017 &#x2013; 64%)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,065</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">8,836</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Largest concentration of mortgages and real estate<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup> &#x2013; Ontario
 Canada (2018 &#x2013; 26%, 2017 &#x2013; 25%)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;16,092</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;14,779</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Investment grade debt securities and private
 placements include 41% rated A, 17% rated AA and 17% rated AAA
 (2017 &#x2013; 42%, 16% and 17%) investments based on external
 ratings where available.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Mortgages and real estate investments are diversified
 geographically and by property type.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_ResidentialMortgagesAndLoansToBankClientsMember', window );">Residential mortgages and loans to bank clients [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfResidentialMortgagesAndLoanToBankClientsExplanatory', window );">Summary of Carrying Value of Residential Mortgages and Loans to Bank Clients</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Credit quality of residential mortgages and loans to Bank
 clients.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="52%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="12"></td>
 <td height="5" colspan="2"></td>
 <td height="5" colspan="12"></td>
 </tr>
 <tr style="FONT-SIZE: 10pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b><font style="FONT-SIZE: 4.5pt"><sup style="FONT-SIZE: 5px; VERTICAL-ALIGN: top">(1)</sup></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-SIZE: 7pt">2017</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Insured</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Uninsured</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Insured</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Uninsured</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Residential mortgages</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Performing</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,854</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,696</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,550</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">7,256</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">11,310</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">18,566</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-performing</font></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>19</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>46</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Loans to Bank clients</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Performing</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,787</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,787</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,734</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,734</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-performing</font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">n/a</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;6,873</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;14,516</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" align="right"><b>&#xA0;&#xA0;21,389</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="top" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right">&#xA0;&#xA0;7,260</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right">&#xA0;&#xA0;13,056</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" align="right">&#xA0;&#xA0;20,316</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left"><font style="WHITE-SPACE: nowrap">Non-performing</font>&#xA0;refers
 to assets that are 90 days or more past due.</p>
 </td>
 </tr>
 </table>


 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AnalysisOfFinancialAssetsThatAreIndividuallyDeterminedToBeImpaired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Analysis of financial assets that are individually determined to be impaired, including the factors that the entity considered when determining that they are impaired. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_37_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AnalysisOfFinancialAssetsThatAreIndividuallyDeterminedToBeImpaired</td>
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<td><strong> Period Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfCreditRiskExposureExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the credit risk exposure. Credit risk exposure is the credit risk inherent in an entity&#8217;s financial assets and commitments to extend credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35M<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfCreditRiskExposureExplanatory</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialAssetsThatAreEitherPastDueOrImpairedExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of financial assets that are either past due or impaired. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_37&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsThatAreEitherPastDueOrImpairedExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInformationAboutCreditExposuresDesignatedAsMeasuredAtFairValueThroughProfitOrLossExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of information about credit exposures designated as measured at fair value through profit or loss.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24G<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24G&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInformationAboutCreditExposuresDesignatedAsMeasuredAtFairValueThroughProfitOrLossExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of information that enables users of financial statements to evaluate the nature and extent of risks arising from financial instruments to which the entity is exposed. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the net and gross amounts and the reinsurer's share for amounts arising from insurance contracts. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=sect_Disclosure&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfNetGrossAndReinsurersShareForAmountsArisingFromInsuranceContractsExplanatory</td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOffsettingOfFinancialAssetsAndFinancialLiabilitiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the offsetting of financial assets and financial liabilities. [Refer: Financial assets; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Section Offsetting financial assets and financial liabilities<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=F17296467&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOffsettingOfFinancialAssetsAndFinancialLiabilitiesExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesExplanatory">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the offsetting of financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 13C<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_13C&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of debt securities and private placements portfolio by sector and industry.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of reconciliation of changes in allowance account for credit losses of financial assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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 &#xA0;&#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 4.70% Senior notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1),(3)</sup></p>
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 5.375% Senior notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2),(3)</sup></p>
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 <td valign="bottom">&#xA0;</td>
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 US$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;750</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.527% Senior notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2),(3)</sup></p>
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 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 US$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;270</td>
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 4.150% Senior notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2),(3)</sup></p>
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 <td valign="bottom" align="right">US$&#xA0;&#xA0;1,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,356</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,246</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 4.90% Senior notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2),(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">September&#xA0;17,&#xA0;2010</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">September&#xA0;17,&#xA0;2020</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 US$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;500</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>681</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">626</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 5.505% Medium-term notes<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 June&#xA0;26, 2008</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 June&#xA0;26, 2018</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;400</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">400</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;4,769</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;4,784</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MFC may redeem the notes in whole, but not in part, on
 June&#xA0;23, 2021 and thereafter on every June&#xA0;23, at a
 redemption price equal to par, together with accrued and unpaid
 interest.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MFC may redeem the senior notes in whole or in part,
 at any time, at a redemption price equal to the greater of par and
 a price based on the yield of a corresponding U.S. Treasury bond
 plus a specified number of basis points. The specified number of
 basis points is as follows: 5.375% &#x2013; 40 bps, 3.527% &#x2013;
 20 bps, 4.150% &#x2013; 35 bps, and 4.90% &#x2013; 35 bps.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These U.S. dollar senior notes have been designated as
 hedges of the Company&#x2019;s net investment in its U.S. operations
 which reduces the earnings volatility that would otherwise arise
 from the <font style="WHITE-SPACE: nowrap">re-measurement</font> of
 these senior notes into Canadian dollars.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On June&#xA0;26, 2018, the 5.505% Medium term notes
 matured.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfMaturitiesOfLongtermDebtExplanatory', window );">Aggregate Maturities of Long-term Debt</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>(c) Aggregate maturities of long-term
 debt</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="88%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Less than one year</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">400</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 One to two years</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>681</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Two to three years</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">626</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Greater than five years</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,088</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">3,758</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;4,769</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;4,784</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfMaturitiesOfLongtermDebtExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834615952">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Capital Instruments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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 <tr>
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 <td valign="bottom"></td>
 <td></td>
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 <td valign="bottom"></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
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 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
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 &#xA0;</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Earliest&#xA0;par&#xA0;redemption<br />
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 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
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 &#xA0;</p>
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 &#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 7.535% MFCT II Senior debenture notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">July&#xA0;10, 2009</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">December&#xA0;31,&#xA0;2019</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;1,000</td>
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 <b>1,000</b></td>
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 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 JHFC Subordinated notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">December&#xA0;14,&#xA0;2006</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">n/a</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">December&#xA0;15, 2036</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;650</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>647</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">647</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 4.061% MFC Subordinated notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;24, 2017</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;24,&#xA0;2027</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;24, 2032</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 US$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;750</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,017</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">935</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.00% MFC Subordinated notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;21,&#xA0;2017</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;21,&#xA0;2024</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;21,&#xA0;2029</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 S$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;500</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>498</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">467</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.049% MFC Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">August&#xA0;18, 2017</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">August&#xA0;20, 2024</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">August&#xA0;20, 2029</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;750</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>747</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">746</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.317% MFC Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;9, 2018</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;9, 2023</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;9, 2028</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;600</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>597</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.181% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;20, 2015</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;22, 2022</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;22, 2027</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;1,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>997</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">996</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 3.85% MFC Subordinated notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;25, 2016</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;25, 2021</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">May&#xA0;25, 2026</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 S$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;500</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>499</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">467</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.389% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">June&#xA0;1, 2015</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">January&#xA0;5, 2021</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">January&#xA0;5, 2026</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;350</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>349</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">349</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.10% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">March&#xA0;10, 2015</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">June&#xA0;1, 2020</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">June&#xA0;1, 2025</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;750</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>749</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">748</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.64% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">December&#xA0;1, 2014</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">January&#xA0;15, 2020</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">January&#xA0;15, 2025</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;500</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">499</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.811% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(6)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;21, 2014</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;21, 2019</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;21, 2024</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;500</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">499</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 7.375% JHUSA Surplus notes<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(7)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;25, 1994</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">n/a</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">February&#xA0;15, 2024</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 US$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;450</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>632</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">584</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.926% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(8)</sup></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;29, 2013</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;29, 2018</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">November&#xA0;29, 2023</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;250</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">250</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 2.819% MLI Subordinated debentures<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(8)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 February&#xA0;25, 2013</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 February&#xA0;26, 2018</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 February&#xA0;26, 2023</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;200</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">200</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>&#xA0;&#xA0;8,732</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">&#xA0;&#xA0;8,387</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Issued by MLI to Manulife Financial Capital Trust II
 (MFCT II), a wholly owned unconsolidated related party to the
 Company. On the earliest par redemption date and on every fifth
 anniversary thereafter (each, a &#x201C;Interest Reset Date&#x201D;),
 the rate of interest will reset to equal the yield
 on&#xA0;<font style="WHITE-SPACE: nowrap">5-year</font>&#xA0;Government of
 Canada bonds plus 5.2%. With regulatory approval, MLI may redeem
 the debentures, in whole or in part, on the earliest par redemption
 date and on any Interest Reset Date, at a redemption price equal to
 par, together with accrued and unpaid interest. The redemption
 price for the debentures redeemed on any day that is not an
 Interest Reset Date will be equal to the greater of par or the fair
 value of the debt based on the yield on uncallable Government of
 Canada bonds to the next Interest Reset Date plus (a) 1.0325% if
 the redemption date is on or after December&#xA0;31, 2014, but
 prior to December&#xA0;31, 2019, or (b) 2.065% if the redemption
 date is after December&#xA0;31, 2019, together with accrued and
 unpaid interest. Refer to note 17.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Issued by Manulife Holdings (Delaware) LLC
 (&#x201C;MHDLL&#x201D;), now John Hancock Financial Corporation
 (&#x201C;JHFC&#x201D;), a wholly owned subsidiary of MFC, to Manulife
 Finance (Delaware) LLC (&#x201C;MFLLC&#x201D;), a subsidiary of
 Manulife Finance (Delaware) L.P. (&#x201C;MFLP&#x201D;). MFLP and its
 subsidiaries are wholly owned unconsolidated related parties to the
 Company. The note bears interest at a floating rate equal to
 the&#xA0;<font style="WHITE-SPACE: nowrap">90-day</font>&#xA0;Bankers&#x2019;
 Acceptance rate plus 0.72%. With regulatory approval, JHFC may
 redeem the note, in whole or in part, at any time, at par, together
 with accrued and unpaid interest. Refer to note 17.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On the earliest par redemption date, the interest rate
 will reset to equal the&#xA0;<font style="WHITE-SPACE: nowrap">5-Year</font>&#xA0;US&#xA0;Dollar&#xA0;<font style="WHITE-SPACE: nowrap">Mid-Swap</font>&#xA0;Rate
 plus 1.647%. With regulatory approval, MFC may redeem the
 debentures, in whole, but not in part, on the earliest par
 redemption date, at a redemption price equal to par, together with
 accrued and unpaid interest.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On the earliest par redemption date, the interest rate
 will reset to equal the&#xA0;<font style="WHITE-SPACE: nowrap">5-year</font>&#xA0;Singapore
 Dollar Swap Rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.00% &#x2013; 83.2
 bps, 3.85% &#x2013; 197 bps. With regulatory approval, MFC may
 redeem the debentures, in whole, but not in part, on the earliest
 par redemption date and thereafter on each interest payment date,
 at a redemption price equal to par, together with accrued and
 unpaid interest.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Interest is fixed for the period up to the earliest
 par redemption date, thereafter, the interest rate will reset to a
 floating rate equal to the&#xA0;<font style="WHITE-SPACE: nowrap">90-day</font>&#xA0;Bankers&#x2019;
 Acceptance rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.049% &#x2013; 105
 bps, 3.317% &#x2013; 78 bps. With regulatory approval, MFC may
 redeem the debentures, in whole or in part, on or after the
 earliest par redemption date, at a redemption price equal to par,
 together with accrued and unpaid interest.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Interest is fixed for the period up to the earliest
 par redemption date, thereafter the interest rate will reset to a
 floating rate equal to the&#xA0;<font style="WHITE-SPACE: nowrap">90-day</font>&#xA0;Bankers&#x2019;
 Acceptance rate plus a specified number of basis points. The
 specified number of basis points is as follows: 3.181% &#x2013; 157
 bps, 2.389% &#x2013; 83 bps, 2.10% &#x2013; 72 bps, 2.64% &#x2013; 73
 bps, 2.811% &#x2013; 80 bps. With regulatory approval, MLI may
 redeem the debentures, in whole or in part, on or after the
 earliest par redemption date, at a redemption price equal to par,
 together with accrued and unpaid interest.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(7)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Issued by John Hancock Mutual Life Insurance Company,
 now John Hancock Life Insurance Company (U.S.A.). Any payment of
 interest or principal on the surplus notes requires prior approval
 from the Department of Insurance and Financial Services of the
 State of Michigan. The carrying value of the surplus notes reflects
 an unamortized fair value increment of US$20 (2017 &#x2013; US$23),
 which arose as a result of the acquisition of John Hancock
 Financial Services, Inc. The amortization of the fair value
 adjustment is recorded in interest expense.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
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 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MLI redeemed in full the 2.926% and 2.819%
 subordinated debentures at par, on November&#xA0;29, 2018 and
 February&#xA0;26, 2018, respectively, the earliest par redemption
 dates.</p>
 </td>
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<DOCUMENT>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811827632">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Capital and Earnings Per Share (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Additional information for the outstanding preferred shares as at
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
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 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Issue date</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Annual<br />
 dividend<br />
 rate<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
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 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Earliest&#xA0;redemption<br />
 date<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Number of<br />
 shares</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions)</p>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Face<br />
 amount</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Net<br />
 amount<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top" colspan="4">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;A preferred shares</p>
 </td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; TEXT-INDENT: 0em">
 &#xA0;</p>
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 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 2</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">February&#xA0;18,&#xA0;2005</td>
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 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.65%</td>
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 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">350</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>344</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 3</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">300</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>294</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top" colspan="4">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 preferred shares</p>
 </td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; TEXT-INDENT: 0em">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 3<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">March&#xA0;11, 2011</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2.178%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">June&#xA0;19, 2021</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">158</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>155</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 4</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">June&#xA0;20, 2016</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup>&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">42</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>41</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 5<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">December&#xA0;6,&#xA0;2011</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.891%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">December&#xA0;19,&#xA0;2021</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">200</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>195</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 7<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">February&#xA0;22, 2012</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.312%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">March&#xA0;19, 2022</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">250</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>244</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 9<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">May&#xA0;24, 2012</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.351%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">September&#xA0;19,&#xA0;2022</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">250</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>244</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 11<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5),(7)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">December&#xA0;4, 2012</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.731%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">March&#xA0;19, 2023</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">200</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>196</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 13<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5),(8)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">June&#xA0;21, 2013</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.414%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">September&#xA0;19, 2023</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">200</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>196</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 15<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">February&#xA0;25, 2014</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.90%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">June&#xA0;19, 2019</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">200</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>195</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 17<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">August&#xA0;15, 2014</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.90%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">December&#xA0;19, 2019</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">350</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>343</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 19<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">December&#xA0;3, 2014</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.80%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">March&#xA0;19, 2020</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">250</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>246</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 21<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">February&#xA0;25, 2016</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5.60%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">June&#xA0;19, 2021</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">425</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>417</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 23<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">November&#xA0;22,&#xA0;2016</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.85%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">March&#xA0;19, 2022</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">475</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>467</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Series 25<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">February&#xA0;20, 2018</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4.70%</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">June&#xA0;19, 2023</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">250</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>245</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">156</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;3,900</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;3,822</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Holders of Class&#xA0;A and Class&#xA0;1 preferred
 shares are entitled to receive <font style="WHITE-SPACE: nowrap">non-cumulative</font> preferential cash
 dividends on a quarterly basis, as and when declared by the Board
 of Directors.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Redemption of all preferred shares is subject to
 regulatory approval. MFC may redeem each series, in whole or in
 part, at par, on the earliest redemption date or every five years
 thereafter, with the exception of Class&#xA0;A Series 2,
 Class&#xA0;A Series 3 and Class&#xA0;1 Series 4 preferred shares.
 Class&#xA0;A Series 2 and Series 3 preferred shares are past their
 respective earliest redemption date and MFC may redeem these
 shares, in whole or in part, at par at any time, subject to
 regulatory approval, as noted. MFC may redeem the Class&#xA0;1
 Series 4, in whole or in part, at any time, at $25.00 per share if
 redeemed on June&#xA0;19, 2021 and on June&#xA0;19 every five years
 thereafter, or at $25.50 per share if redeemed on any other date
 after June&#xA0;19, 2016, subject to regulatory approval, as
 noted.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Net of <font style="WHITE-SPACE: nowrap">after-tax</font> issuance costs.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On the earliest redemption date and every five years
 thereafter, the annual dividend rate will be reset to the five-year
 Government of Canada bond yield plus a yield specified for each
 series. The specified yield for Class&#xA0;1 shares is: Series 3
 &#x2013; 1.41%, Series 5 &#x2013; 2.90%, Series 7 &#x2013; 3.13%,
 Series 9 &#x2013; 2.86%, Series 11 &#x2013; 2.61%,
 Series&#xA0;13&#xA0;&#x2013;&#xA0;2.22%, Series 15 &#x2013; 2.16%,
 Series 17 &#x2013; 2.36%, Series 19 &#x2013; 2.30%, Series 21 &#x2013;
 4.97%, Series 23 &#x2013; 3.83% and Series 25 &#x2013; 2.55%.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On the earliest redemption date and every five years
 thereafter, Class&#xA0;1 preferred shares are convertible at the
 option of the holder into a new series that is one number higher
 than their existing series, and the holders are entitled to
 <font style="WHITE-SPACE: nowrap">non-cumulative</font>
 preferential cash dividends, payable quarterly if and when declared
 by the Board of Directors, at a rate equal to the three month
 Government of Canada Treasury bill yield plus the rate specified in
 footnote 4 above.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The floating dividend rate for the Class&#xA0;1 Shares
 Series 4 equals the three-month Government of Canada Treasury bill
 yield plus 1.41%.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(7)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MFC did not exercise its right to redeem all or any of
 the outstanding Class&#xA0;1 Shares Series 11 on March&#xA0;19,
 2018 (the earliest redemption date). Dividend rate for Class&#xA0;1
 Shares Series 11 was reset as specified in footnote 4 above to an
 annual fixed rate of 4.731% for a five-year period commencing on
 March&#xA0;20, 2018.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(8)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MFC did not exercise its right to redeem all or any of
 the outstanding Class&#xA0;1 Shares Series 13 on September&#xA0;19,
 2018 (the earliest redemption date). Dividend rate for Class&#xA0;1
 Shares Series 13 was reset as specified in footnote 4 above to an
 annual fixed rate of 4.414% for a five-year period commencing on
 September&#xA0;20, 2018.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareExplanatory', window );">Summary of Basic and Diluted Earnings Per Common Share</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The following table presents basic and diluted earnings per common
 share of the Company.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Basic earnings per common share</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2.34</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">0.98</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Diluted earnings per common share</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2.33</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">0.98</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfReconciliationOfNumberOfSharesOutstandingExplanatory', window );">Summary of Reconciliation of Denominator (Number of Shares) in Calculation of Basic and Diluted Earnings Per Share</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The following is a reconciliation of the denominator (number of
 shares) in the calculation of basic and diluted earnings per
 share.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Weighted average number of common shares (in millions)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,983</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,978</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Dilutive stock-based awards<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup> (in millions)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">8</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Weighted average number of diluted common shares (in
 millions)</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,988</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">1,986</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 4pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The dilutive effect of stock-based awards was
 calculated using the treasury stock method. This method calculates
 the number of incremental shares by assuming the outstanding
 stock-based awards are (i)&#xA0;exercised and (ii)&#xA0;then
 reduced by the number of shares assumed to be repurchased from the
 issuance proceeds, using the average market price of MFC common
 shares for the year. Excluded from the calculation was a weighted
 average of 7&#xA0;million (2017 &#x2013; 2 million) anti-dilutive
 stock-based awards.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfDividendsPaidExplanatory', window );">Summary of Dividends Payable on Non-cumulative Preferred Shares</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The Board also declared dividends on the
 following&#xA0;<font style="WHITE-SPACE: nowrap">non-cumulative</font>&#xA0;preferred
 shares, payable on or after March&#xA0;19, 2019 to shareholders of
 record at the close of business on February&#xA0;27, 2019.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="51%"></td>
 <td valign="bottom"></td>
 <td width="48%"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;A Shares Series 2 &#x2013; $0.29063 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 13 &#x2013; $0.275875
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;A Shares Series 3 &#x2013; $0.28125 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 15 &#x2013; $0.24375
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 3 &#x2013; $0.136125 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 17 &#x2013; $0.24375
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 4 &#x2013; $0.193315 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 19 &#x2013; $0.2375
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 5 &#x2013; $0.243188 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 21 &#x2013; $0.35 per
 share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 7 &#x2013; $0.2695 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 23 &#x2013; $0.303125
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 9 &#x2013; $0.271938 per share</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">Class&#xA0;1 Shares Series 25 &#x2013; $0.29375
 per share</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Class&#xA0;1 Shares Series 11 &#x2013; $0.295688 per share</p>
 </td>
 </tr>
 </table>


 </div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory', window );">Summary of Changes in Issued and Outstanding Shares</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The changes in issued and outstanding preferred shares are as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="88%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="4"></td>
 <td bgcolor="#DDE0DA" height="4" colspan="8"></td>
 <td height="4" colspan="4"></td>
 <td height="4" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Number&#xA0;of<br />
 shares</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Amount</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Number&#xA0;of<br />
 shares</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Amount</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>146</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,577</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">146</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;3,577</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issued, Class&#xA0;1 shares, Series 25<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issuance costs, net of tax</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(5</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Balance, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt" align="right"><b>156</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt" align="right"><b>3,822</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt">
 <b>&#xA0;</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt" align="right">146</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt" align="right">3,577</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 15pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">On February&#xA0;20, 2018, MFC issued 10&#xA0;million
 of <font style="WHITE-SPACE: nowrap">Non-Cumulative</font> Rate
 Reset Class&#xA0;1 Shares Series 25 at a price of $25 per share for
 gross proceeds of $250.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory', window );">Summary of Changes in Issued and Outstanding Shares</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The changes in common shares issued and outstanding are as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="64%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="4"></td>
 <td bgcolor="#DDE0DA" height="4" colspan="8"></td>
 <td height="4" colspan="4"></td>
 <td height="4" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Number&#xA0;of<br />
 shares</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Amount</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Number&#xA0;of<br />
 shares</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Amount</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, January&#xA0;1</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,982</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>22,989</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,975</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">22,865</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Repurchased for cancellation</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(23</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(269</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issued under dividend reinvestment plan</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>182</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issued on exercise of stock options and deferred share units</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>59</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">7</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">124</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,971</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;22,961</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">1,982</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;22,989</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of classes of share capital. [Refer: Share capital [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_79_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2018-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2018-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfDividendsPaidExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of dividends paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfDividendsPaidExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfFurtherInformationOnPreferredSharesOutstandingExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of further information on preferred shares outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfFurtherInformationOnPreferredSharesOutstandingExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfReconciliationOfNumberOfSharesOutstandingExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of reconciliation of number of shares outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfReconciliationOfNumberOfSharesOutstandingExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_StatementLineItems</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>68
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6835844848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Capital Management (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfConsolidatedCapitalInComplianceWithMinimumContinuingCapitalAndSurplusRequirementExplanatory', window );">Schedule of Consolidated Capital</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Consolidated capital</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total equity</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;47,151</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;42,163</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Adjusted for AOCI loss on cash flow hedges</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(127</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(109</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total equity excluding AOCI on cash flow hedges</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>47,278</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">42,272</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Qualifying capital instruments</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>8,732</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">8,387</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Consolidated capital</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>56,010</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">50,659</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
</table>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfConsolidatedCapitalInComplianceWithMinimumContinuingCapitalAndSurplusRequirementExplanatory">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of consolidated capital in compliance with minimum continuing capital and surplus requirement (MCCSR).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfConsolidatedCapitalInComplianceWithMinimumContinuingCapitalAndSurplusRequirementExplanatory</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Text block [abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>69
<FILENAME>R44.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834515472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue from Service Contracts (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory', window );">Summary of Revenue from Service Contracts by Service Lines and Reporting Segments</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following tables present revenue from service contracts by
 service lines and reporting segments as disclosed in note 19.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 14pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="54%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Global<br />
 WAM</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Corporate<br />
 and&#xA0;Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment management and other related fees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>328</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>149</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>521</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,805</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(236</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,567</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Transaction processing, administration, and service fees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>226</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>854</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>17</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,939</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,036</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Distribution fees and other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>255</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>49</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>617</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>724</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(30</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,615</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total included in other revenue</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>809</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,052</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,155</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,468</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(266</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,218</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate management services reported in net investment
 income</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>31</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>160</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>147</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>348</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>840</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,212</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,302</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,468</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(256</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>8,566</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2017</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Global<br />
 WAM</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Corporate<br />
 and&#xA0;Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment management and other related fees</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">351</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">137</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">569</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,397</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(232</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3,222</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Transaction processing, administration, and service fees</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">206</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">871</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,978</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,075</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Distribution fees and other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">269</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">64</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">626</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">785</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(42</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,702</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
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 <td valign="bottom">&#xA0;</td>
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 Real estate management services reported in net investment
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 &#xA0;&#xA0;</td>
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 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">22</td>
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 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">161</td>
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 &#xA0;&#xA0;</td>
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 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">156</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
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 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
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 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">344</td>
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 &#xA0;&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,233</td>
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 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,368</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;5,160</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(266</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
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 &#xA0;&#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;8,343</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the disaggregation of revenue from contracts with customers. [Refer: Revenue from contracts with customers]</p></div>
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 &#xA0;</p>
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 <br />
 <br />
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 &#xA0;&#xA0;</td>
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 &#xA0;<br />
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 &#xA0;</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions</p>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;
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 &#xA0;</p>
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 &#xA0;&#xA0;</td>
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 &#xA0;<br />
 <br />
 <br />
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 &#xA0;</p>
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 &#xA0;<br />
 &#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
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 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24.52</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">24.56</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Exercised</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17.77</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16.03</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Expired</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>37.35</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">39.47</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Forfeited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21.24</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(1
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">20.86
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Outstanding, December&#xA0;31</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>23</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>20.29</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">25
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">20.45
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Exercisable, December&#xA0;31</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18.08</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">12
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">19.93
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory', window );">Schedule of Range of Exercise Prices of Outstanding Share Options</a></td>
<td class="text"><div>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="43%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Options outstanding</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Options exercisable</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Number&#xA0;of<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">options</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 )&#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br />
 <br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Weighted<br />
 average<br />
 exercise<br />
 price
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br />
 <br />
 <br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Weighted<br />
 average<br />
 remaining<br />
 contractual<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">life</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;years)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Number&#xA0;of<br />
 options
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;millions</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 )&#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br />
 <br />
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Weighted<br />
 average<br />
 exercise<br />
 price
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;<br />
 <br />
 <br />
 <br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 </p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right">Weighted<br />
 average<br />
 remaining<br />
 contractual<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">life</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(in&#xA0;years)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">&#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 &#xA0;<br />
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 $12.64&#xA0;&#x2013;&#xA0;$20.99</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;17.27</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4.00</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;17.06</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2.09</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 $21.00&#xA0;&#x2013;&#xA0;$24.83</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>23.26</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6.95</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21.27</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3.25</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>23</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>20.29</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5.49</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18.08</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2.37</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfNumberOfDeferredShareUnitsOutstandingExplanatory', window );">Schedule of Deferred Share Units</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Number of DSUs (in thousands)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Outstanding, January&#xA0;1</p>
 </td>
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 Current service cost</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>42</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">48</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Past service cost &#x2013; amendments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Past service cost &#x2013; curtailments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest cost</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>165</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">182</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>24</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">26</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Plan participants&#x2019; contributions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Actuarial losses (gains) due to:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Experience</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(9</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Demographic assumption changes</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>35</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Economic assumption changes</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">214</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">41</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Benefits paid</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(304</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(315</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(45</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(45</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>262</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(206</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>44</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(35</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Defined benefit obligation, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;4,675</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;4,706</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;640</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;665</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="77%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Change in plan assets:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fair value of plan assets, opening balance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;4,328</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;4,277</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;587</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;603</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>153</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">164</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">23</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return on plan assets (excluding interest income)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(315</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">312</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(16</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">30</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Employer contributions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>79</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">85</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Plan participants&#x2019; contributions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Benefits paid</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(304</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(315</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(45</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(45</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Administration costs</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(5</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>254</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(191</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>51</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(38</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Fair value of plan assets, December&#xA0;31</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;4,190</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;4,328</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;610</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;587</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <br class="Apple-interchange-newline" /></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory', window );">Summary of Amounts Recognized in Consolidated Statements of Financial Position</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(d) Amounts recognized in the Consolidated
 Statements of Financial Position</b></font></p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="77%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Development of net defined benefit liability</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined benefit obligation</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;4,675</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;4,706</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;640</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;665</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fair value of plan assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,190</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4,328</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>610</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">587</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Deficit</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>485</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">378</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>30</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">78</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Effect of asset limit<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Deficit and net defined benefit liability</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>494</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">378</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>30</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">78</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Deficit is comprised of:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Funded or partially funded plans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(248</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(383</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(121</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(72</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Unfunded plans</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>742</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">761</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>151</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">150</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Deficit and net defined benefit liability</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>494</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">378</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>30</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">78</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">In 2018, the Company recognized an impairment of $9 on
 the net defined benefit asset for one of its registered pension
 plans in Canada. This was due to the conversion of most plan
 benefits for future service from defined benefit to defined
 contribution which reduced the economic benefit that can be derived
 by the Company from the plan&#x2019;s surplus. For the other funded
 pension plans, the present value of the economic benefits available
 in the form of reductions in future contributions to the plans
 remains greater than the surplus that is expected to develop.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory', window );">Summary of Disaggregation of Defined Benefit Obligation</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 <font color="#1F320C"><b>(e) Disaggregation of defined benefit
 obligation</b></font></p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="37%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center"><b>U.S. plans</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14" align="center"><b>Canadian plans</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Active members</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>621</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">592</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>32</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">34</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>332</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">393</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>22</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">20</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Inactive and retired members</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,431</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,434</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>457</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">481</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,291</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,287</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>129</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">130</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;3,052</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;3,026</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;489</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;515</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;1,623</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,680</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;151</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;150</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory', window );">Summary of Major Categories of Plan Assets and Actual Per Cent Allocation to Each Category</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(f) Fair value measurements</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The major categories of plan assets and the actual per cent
 allocation to each category are as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="38%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="16"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="16"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" nowrap="nowrap" align="center"><b>U.S. plans<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" nowrap="nowrap" align="center"><b>Canadian plans<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center">Pension plans</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" nowrap="nowrap" align="center">Retiree welfare plans</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and cash equivalents</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>26</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>51</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>19</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>17%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>38</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>269</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>20%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,088</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>73%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>514</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>85%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,033</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>79%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other investments<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>252</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>0%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;2,866</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>100%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;610</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>100%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;1,324</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>100%</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="38%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="13"></td>
 <td height="13" colspan="16"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="16"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"><b>U.S. plans<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="14" align="center"><b>Canadian plans<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Retiree welfare plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center">Retiree welfare
 plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Fair&#xA0;value</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">%&#xA0;of&#xA0;total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash and cash equivalents</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">33</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">33</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity securities<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">695</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">24%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">45</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">212</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Debt securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,979</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">67%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">502</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">85%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,165</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">84%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other investments<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">235</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">8%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">7</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">0%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;2,942</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">100%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;587</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">100%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;1,386</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">100%</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">$</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">All the U.S. pension and retiree welfare plan assets
 have daily quoted prices in active markets, except for the private
 equity, timber and agriculture assets. In the aggregate, the latter
 assets represent approximately 7% of all U.S. pension and retiree
 welfare plan assets as at December&#xA0;31, 2018 (2017 &#x2013;
 6%).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">All the Canadian pension plan assets have daily quoted
 prices in active markets, except for the group annuity contract
 assets that represent approximately 0.2% of all Canadian pension
 plan assets as at December&#xA0;31, 2018 (2017 &#x2013; 0.3%).</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Equity securities include direct investments in MFC
 common shares of $0.9 (2017 &#x2013; $1.3) in the U.S. retiree
 welfare plan and $nil (2017 &#x2013; $nil) in Canada.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Other U.S. plan assets include investment in private
 equity, timberland and agriculture, and managed futures. Other
 Canadian pension plan assets include investment in the group
 annuity contract.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfComponentsOfNetBenefitCostForPensionPlansAndRetireeWelfarePlansExplanatory', window );">Summary of Components of Net Benefit Cost for Pension Plans and Retiree Welfare Plans</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(g) Net benefit cost recognized in the
 Consolidated Statements of Income</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Components of the net benefit cost for the pension plans and
 retiree welfare plans were as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="62%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center">Pension plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center">Retiree welfare
 plans</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined benefit current service cost</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>42</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">48</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined benefit administrative expenses</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Past service cost &#x2013; plan amendments<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Past service cost &#x2013; curtailments<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Service cost</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>66</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">53</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest on net defined benefit (asset) liability</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">18</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined benefit cost</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>78</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">71</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>17</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined contribution cost</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>78</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">75</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net benefit cost</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;156</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;146</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;17</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;6</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Past service cost &#x2013; plan amendments includes $8,
 reflecting a surplus sharing agreement between the Company and
 certain legacy employees in Canada, which received regulatory
 approval in 2018.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Past service cost &#x2013; curtailments includes $22 in
 total, reflecting the cost of the voluntary exit and voluntary
 retirement programs described in section (a)&#xA0;of this note.</p>
 </td>
 </tr>
 </table>


 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfRemeasurementEffectsRecognizedInOtherComprehensiveIncomeTextBlockExplanatory', window );">Summary of Re-measurement Effects Recognized in Other Comprehensive Income</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(h) <font style="WHITE-SPACE: nowrap">Re-measurement</font> effects recognized in
 Other Comprehensive Income</b></font></p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="68%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Pension plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2" nowrap="nowrap" align="center">
 &#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Retiree welfare plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Actuarial gains (losses) on defined benefit obligations due to:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Experience</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(15</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</td>
 <td valign="bottom" align="right">9</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Demographic assumption changes</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(35</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Economic assumption changes</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(214</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(41</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return on plan assets (excluding interest income)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(315</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;312</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(16</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;30</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Change in effect of asset limit</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total <font style="WHITE-SPACE: nowrap">re-measurement</font>
 effects</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;(109</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">83</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;&#xA0;48</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(2</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfDefinedBenefitObligationAndNetBenefitCostKeyAssumptionsExplanatory', window );">Summary of Key Assumptions Used by to Determine Defined Benefit Obligation and Net Benefit Cost for Defined Benefit Pension Plans and Retiree Welfare Plans</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9.5pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(i) Assumptions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The key assumptions used by the Company to determine the defined
 benefit obligation and net benefit cost for the defined benefit
 pension plans and retiree welfare plans were as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="40%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>U.S. Plans</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="14">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>Canadian Plans</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Pension plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Retiree welfare plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Pension plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Retiree welfare plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>To determine the defined benefit obligation at end of
 year<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup>:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Discount rate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4.3%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.6%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4.3%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.6%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.8%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.5%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.8%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.6%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Initial health care cost trend rate<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7.8%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8.5%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">n/a</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5.7%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5.9%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>To determine the defined benefit cost for the year<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup>:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Discount rate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.6%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.1%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.6%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.1%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.5%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3.9%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3.6%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4.0%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Initial health care cost trend rate<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">n/a
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>8.5%</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">8.8%
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">n/a
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5.9%</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">6.0%
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Inflation and salary increase assumptions are not
 shown as they do not materially affect obligations and cost.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The health care cost trend rate used to measure the
 U.S. based retiree welfare obligation was 7.8% grading to 5.0% for
 2030 and years thereafter (2017 &#x2013; 8.5% grading to 5.0% for
 2032) and to measure the net benefit cost was 8.5% grading to 5.0%
 for 2032 and years thereafter (2017 &#x2013; 8.8% grading to 5.0%
 for 2032). In Canada, the rate used to measure the retiree welfare
 obligation was 5.7% grading to 4.8% for 2026 and years thereafter
 (2017 &#x2013; 5.9% grading to 4.8% for 2026) and to measure the net
 benefit cost was 5.9% grading to 4.8% for 2026 and years thereafter
 (2017 &#x2013; 6.0% grading to 4.8% for 2026).</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfLifeExpectanciesUnderlyingValuesOfObligationsInDefinedBenefitPensionAndRetireeWelfarePlansExplanatory', window );">Summary of Life Expectancies Underlying Values of Obligations in Defined Benefit Pension and Retiree Welfare Plans</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 Assumptions regarding future mortality are based on published
 statistics and mortality tables. The current life expectancies
 underlying the values of the obligations in the defined benefit
 pension and retiree welfare plans are as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">U.S.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Life expectancy (in years) for those currently age 65</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Males</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>22.5</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23.6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Females</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24.0</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>25.5</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Life expectancy (in years) at age 65 for those currently age
 45</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Males</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24.1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24.6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Females</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>25.6</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>26.4</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory', window );">Summary of Potential Impact on Obligations Arising From Changes in Key Assumptions</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>(j) Sensitivity of assumptions on
 obligations</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 Assumptions used can have a significant effect on the obligations
 reported for defined benefit pension and retiree welfare plans. The
 potential impact on the obligations arising from changes in the key
 assumptions is set out in the following table. The sensitivities
 assume all other assumptions are held constant. In actuality,
 inter-relationships with other assumptions may exist.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="73%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="6%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Pension&#xA0;plans</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Retiree&#xA0;welfare&#xA0;plans</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Discount rate:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of a 1% increase</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(423</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(62</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of a 1% decrease</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>74</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Health care cost trend rate:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of a 1% increase</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of a 1% decrease</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>n/a</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(18</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Mortality rates<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Impact of a 10% decrease</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;114</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;14</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">If the actuarial estimates of mortality are adjusted
 in the future to reflect unexpected decreases in mortality, the
 effect of a 10% decrease in mortality rates at each future age
 would be an increase in life expectancy at age 65 of 0.9 years for
 U.S. males and females and 0.8 years for Canadian males and
 females.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationAboutMaturityProfileOfDefinedBenefitObligationExplanatory', window );">Summary of Weighted Average Duration of the Defined Benefit Obligations</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(k) Maturity profile</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The weighted average duration (in years) of the defined benefit
 obligations is as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="88%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Pension plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Retiree welfare plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 U.S. plans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8.8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9.5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>9.0</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9.8</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Canadian plans</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;12.4</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">12.8
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;14.3</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">14.2
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfFundingPolicyAndContributionsToPlansExplanatory', window );">Summary of Cash Payments</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>(l) Cash flows &#x2013;
 contributions</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Total cash payments for all employee future benefits, comprised of
 cash contributed by the Company to funded defined benefit pension
 and retiree welfare plans, cash payments directly to beneficiaries
 in respect of unfunded pension and retiree welfare plans, and cash
 contributed to defined contribution pension plans, are as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="86%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Pension plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Retiree welfare plans</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined benefit plans</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>79</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">85</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">12</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Defined contribution plans</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>78</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">77</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;157</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;162
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;10</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;12
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of defined benefit plans. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2018-01-01<br> -Paragraph 138<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2018-03-01&amp;anchor=para_138&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the fair value of defined benefit plan assets. [Refer: Plan assets [member]; Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2018-01-01<br> -Paragraph 142<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2018-03-01&amp;anchor=para_142&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of information about the maturity profile of a defined benefit obligation. This will include the weighted average duration of the defined benefit obligation and may include other information about the distribution of the timing of benefit payments, such as a maturity analysis of the benefit payments. [Refer: Defined benefit obligation, at present value]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2018-01-01<br> -Paragraph 147<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2018-03-01&amp;anchor=para_147_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInformationAboutMaturityProfileOfDefinedBenefitObligationExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2018-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2018-03-01&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [member]; Defined benefit obligation, at present value]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2018-01-01<br> -Paragraph 145<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2018-03-01&amp;anchor=para_145&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of components of net benefit cost for pension plans and retiree welfare plans [text block]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of defined benefit obligation and net benefit cost key assumptions [text block]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of funding policy and contributions to plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of life expectancies underlying values of obligations in defined benefit pension and retiree welfare plans [text block]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of re-measurement effects recognized in Other Comprehensive Income [text block]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of summary of pension and retiree welfare plans [text block]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Text block [abstract]</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6713434448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Interests in Structured Entities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract', window );"><strong>Investments accounted for using equity method [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following table presents the Company&#x2019;s investment and
 maximum exposure to loss from significant unconsolidated investment
 SEs, some of which are sponsored by the Company. The Company does
 not provide guarantees to other parties against the risk of loss
 from these SEs.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
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 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
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 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Company&#x2019;s investment<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Company&#x2019;s maximum</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">exposure to loss<sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Leveraged leases<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,575</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;3,273</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,575</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;3,273</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Timberland companies<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>788</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">736</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>821</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">786</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate companies<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(5)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>566</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">361
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>566</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">361
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,929</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">4,370
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,962</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">4,420
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The Company&#x2019;s investments in these
 unconsolidated SEs are included in invested assets and the
 Company&#x2019;s returns from them are included in net investment
 income and AOCI.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The Company&#x2019;s maximum exposure to loss from each
 SE is limited to amounts invested in each, plus unfunded capital
 commitments, if any. The Company&#x2019;s investment commitments are
 disclosed in note 18. The maximum loss is expected to occur only
 upon the entity&#x2019;s bankruptcy/liquidation, or in case of a
 natural disaster in the case of the timber companies.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These entities are statutory business trusts which use
 capital provided by the Company and senior debt provided by other
 parties to finance the acquisition of assets. These assets are
 leased to third-party lessees under long-term leases. The Company
 owns equity capital in these business trusts. The Company does not
 consolidate any of the trusts that are party to the lease
 arrangements because the Company does not have decision-making
 power over them.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These entities own and operate timberlands. The
 Company invests in their equity and debt. The Company&#x2019;s
 returns include investment income, investment advisory fees,
 forestry management fees and performance advisory fees. The Company
 does not control these entities because it either does not have the
 power to govern their financial and operating policies or does not
 have significant variable returns from them, or both.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">These entities, which include the Manulife U.S. REIT,
 own and manage commercial real estate. The Company invests in their
 equity. The Company&#x2019;s returns include investment income,
 investment management fees, property management fees,
 acquisition/disposition fees, and leasing fees. The Company does
 not control these entities because it either does not have the
 power to govern their financial and operating policies or does not
 have significant variable returns from them, or both.</p>
 </td>
 </tr>
 </table>


 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInterestsInUnconsolidatedStructuredEntitiesExplanatory', window );">Schedule of Interests and Maximum Exposure to Loss From Significant Unconsolidated Financing Structured Entities</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The Company&#x2019;s interests and maximum exposure to loss from
 significant unconsolidated financing SEs are as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="82%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center">Company&#x2019;s interests<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top; LINE-HEIGHT: 9pt">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">2017</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Finance (Delaware), L.P.<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>821</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">835</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Financial Capital Trust II<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>999</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,000</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;1,820</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">&#xA0;&#xA0;1,835</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The Company&#x2019;s interests include amounts borrowed
 from the SEs and the Company&#x2019;s investment in their
 subordinated capital, and foreign currency and interest swaps with
 them, if any.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">This entity is a wholly-owned partnership used to
 facilitate the Company&#x2019;s financing. Refer to notes 11 and
 18.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">This entity is an open-ended trust that is used to
 facilitate the Company&#x2019;s financing. Refer to note 11.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationAboutInterestsInStructuredEntityExplanatory', window );">Schedule of Securitized Holdings by Type and Asset Quality</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 The following table presents investments in securitized holdings by
 the type and asset quality.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="60%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="16"></td>
 <td height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="14" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center">2017</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">CMBS</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">RMBS</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">ABS</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">Total</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 AAA</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,653</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>810</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,471</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,503</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 AA</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>306</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>306</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">401</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 A</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>7</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>374</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>453</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">504</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 BBB</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>70</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>70</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">142</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 BB and below</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">26</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -1em">
 <b>Total company exposure</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;1,725</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;15</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;1,560</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>&#xA0;&#xA0;3,300</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>&#xA0;</b></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855954288">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Tables)<br></strong></div></th>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(419</b></td>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;&#xA0;(4,657)</b></td>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
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 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
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 MFC on a<br />
 combined&#xA0;basis</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total<br />
 consolidated<br />
 amounts</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">MFLP</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total revenue</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">182</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">58,445</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">270</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(574</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">58,323</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">29</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss) attributed to shareholders</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,467</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(257</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">&#xA0;&#xA0;&#xA0;(2,210</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">6</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCondensedConsolidatedStatementsOfFinancialPositionExplanatory', window );">Summary of Condensed Consolidated Statements of Financial Position for MFC and MFLP</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Condensed Consolidated Statements of
 Financial Position</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="77%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">MLI<br />
 consolidated</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Other<br />
 subsidiaries of<br />
 MFC on a<br />
 combined&#xA0;basis</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Total<br />
 consolidated<br />
 amounts</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">MFLP</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>353,632</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;353,664</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total other assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;54,346</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>83,523</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(54,474</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>83,398</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,059</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Insurance contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;328,654</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>328,654</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,265</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,265</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>8,403</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>50,043</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(454</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>57,992</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>833</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="13"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 <td height="13" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">MLI<br />
 consolidated</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other<br />
 subsidiaries of<br />
 MFC on a<br />
 combined&#xA0;basis</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Total<br />
 consolidated<br />
 amounts</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">MFLP</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">21</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">334,191</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">334,222</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">
 $&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;5</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total other assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;48,688</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">71,180</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(48,868</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">71,004</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,033</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Insurance contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;304,605</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">304,605</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,126</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,126</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">7,696</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">48,145</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(509</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">55,332</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">831</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfPledgeOfAssetsExplanatory', window );">Schedule of Pledged Assets</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The amounts pledged are as follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="60%"></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td valign="bottom" width="5%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="8"></td>
 <td height="5" colspan="2"></td>
 <td height="5" colspan="8"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Debt
 securities</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Other</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Debt securities</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Other</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 In respect of:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Derivatives</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;3,655</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>102</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3,189</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">44</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Regulatory requirements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>412</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>84</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">398</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">86</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Real estate</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Repurchase agreements</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>64</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">228</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-registered</font> retirement
 plans in trust</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>420</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">412</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>301</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">3</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">271</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,134</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;907</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;3,818</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;815</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834528400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segmented Information (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsExplanatory', window );">Summary of Results by Segments</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>By segment</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="40%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at and for the year
 ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Global WAM</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Corporate</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">and Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,938</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,975</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,341</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>98</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,352</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,175</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>452</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9,967</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(6,340</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net premium income</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>18,113</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>9,427</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,626</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>98</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24,012</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>278</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,764</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,723</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(225</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,532</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,296</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,446</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,542</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,472</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(328</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,428</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>19,687</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,637</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>639</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,464</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(455</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>38,972</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Contract benefits and expenses</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,875</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,044</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,255</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>23,137</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,986</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>518</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9,784</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>77</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(7,203</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net benefits and claims</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,861</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,562</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(5,529</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>77</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest expense</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>187</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>447</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>56</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>583</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,275</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other expenses</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,749</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,063</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,428</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,322</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>682</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>16,244</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total contract benefits and expenses</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>17,797</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,072</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,045</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,401</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,228</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>33,453</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) before income taxes</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,890</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,565</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,684</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,063</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,683</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,519</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income tax recovery (expense)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(355</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(321</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(352</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(108</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>504</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(632</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss)</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,535</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,244</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,332</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>955</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,179</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,887</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Less net income (loss) attributed to:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>&#xA0;interests</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>208</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>6</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Participating policyholders</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(360</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>233</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(127</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss) attributed to shareholders</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,687</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,011</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,332</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>955</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,185</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;112,327</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;214,101</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;272,228</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;130,379</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;21,236</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;750,271</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at and for the year
 ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2017</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Global WAM</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Corporate</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">and Other</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">13,145</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,322</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,778</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">110</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">24,355</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,568</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">443</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">844</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,855</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net premium income</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,713</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,765</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,622</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">110</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">28,210</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,044</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,560</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,657</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">42</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">64</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,367</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">933</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,862</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,039</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,158</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(246</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">10,746</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">20,690</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">11,187</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">21,318</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,200</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(72</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">58,323</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Contract benefits and expenses</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,881</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,018</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,193</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">268</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">33,360</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,889</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,404</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,574</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">74</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,941</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net benefits and claims</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,770</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,422</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,767</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">74</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">268</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">39,301</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest expense</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">164</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">36</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">631</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,139</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other expenses</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,360</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,069</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,374</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,193</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">386</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">15,382</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total contract benefits and expenses</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">18,294</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">10,798</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">21,177</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,268</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,285</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">55,822</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) before income taxes</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,396</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">389</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">141</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">932</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,357</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,501</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income tax recovery (expense)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(405</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">159</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(1,342</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">146</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,203</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(239</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss)</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,991</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">548</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,201</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,078</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(154</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,262</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Less net income (loss) attributed to:</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>&#xA0;interests</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">187</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">194</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Participating policyholders</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(30</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(6</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(36</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss) attributed to shareholders</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">1,834</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">554</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(1,201</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">1,078</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(161</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;96,354</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;217,813</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;263,523</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;131,779</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;20,064</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;729,533</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">During the year, the Company ceded premiums to
 reinsure a block of legacy U.S. individual pay-out annuities
 business, refer to note 7(k) for details.</p>
 </td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasExplanatory', window );">Summary of Results by Geographic Location</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The results of the Company&#x2019;s reporting segments differ from
 its geographic segments primarily due to the allocation of the
 Company&#x2019;s Global WAM and Corporate and Other segments into
 the geographic segments to which its businesses relate.</p>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>By geographic location</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 14pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="56%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at and for the year
 ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2018</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,010</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,561</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,342</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>439</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>30,352</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,175</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>452</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(9,967</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(6,340</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net premium income</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>18,185</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>9,013</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,625</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>439</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24,012</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>371</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,933</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,032</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>196</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,532</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,115</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,904</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,395</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,428</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>20,671</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14,850</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,802</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>649</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>38,972</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at and for the year
 ended</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>December&#xA0;31, 2017</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Asia</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="right">Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">U.S.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Other</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">Total</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Life and health insurance</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">13,215</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3,894</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">6,780</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">466</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">24,355</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Annuities and pensions</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2,568</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">443</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">844</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,855</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net premium income</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,783</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,337</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,624</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">466</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">28,210</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,258</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,642</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,407</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">60</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,367</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">1,632</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,187</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">5,911</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">16</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">10,746</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;21,673</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;12,166</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;23,942</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;542</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;58,323</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <br class="Apple-interchange-newline" /></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfGeographicalAreasExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of geographical information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 33<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_33&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfGeographicalAreasExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOperatingSegmentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of operating segments. [Refer: Operating segments [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Text block [abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834274288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Parties (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory', window );">Summary of Compensation of Key Management Personnel</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 A summary of compensation of key management personnel is as
 follows.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="4%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <b>2018</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Short-term employee benefits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>65</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Post-employment benefits</p>
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 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>5</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Share-based payments</p>
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 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>50</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Termination benefits</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>5</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other long-term benefits</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">2</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
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 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;127</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
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 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;150</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of information about key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Text block [abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855892448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsidiaries (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 The following is a list of Manulife&#x2019;s directly and indirectly
 held major operating subsidiaries.</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="50%"></td>
 <td valign="bottom"></td>
 <td width="14%"></td>
 <td valign="bottom"></td>
 <td width="34%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>(100% owned unless otherwise noted in
 brackets beside company name)</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>Address</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <b>Description</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 2em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>The Manufacturers Life Insurance Company</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center">Toronto, Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Leading Canadian-based financial services company that offers a
 diverse range of financial protection products and wealth
 management services</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Holdings (Alberta) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Calgary, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Financial Corporation</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Wilmington,</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Delaware,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Holding company</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 The Manufacturers Investment Corporation</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Michigan, U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Reassurance Company Ltd.</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center">Michigan, U.S.A.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Captive insurance subsidiary that provides life, annuity and
 long-term care reinsurance to affiliates</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Life Insurance Company (U.S.A.)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center">Michigan, U.S.A.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 U.S. life insurance company licensed in all states, except New
 York</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Subsidiaries LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center">Wilmington, Delaware,&#xA0;U.S.A.</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Holding company</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Financial Network, Inc.</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Financial services distribution organization</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Advisers, LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Investment advisor</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 11em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Funds, LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts, U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Broker-dealer</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (U.S.), LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Wilmington, Delaware,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Asset management company</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Hancock Natural Resource Group, Inc.</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Manager of globally diversified timberland and agricultural
 portfolios</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Life Insurance Company of New York</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">New York, U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 U.S. life insurance company licensed in New York</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Investment Management Services, LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Investment advisor</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Life&#xA0;&amp; Health Insurance Company</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 U.S. life insurance company licensed in all states</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Distributors, LLC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Wilmington, Delaware,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Broker-dealer</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 John Hancock Insurance Agency, Inc.</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Wilmington, Delaware,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 Insurance agency</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Reinsurance Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hamilton, Bermuda</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Provides life and financial reinsurance to affiliates</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 8em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Reinsurance (Bermuda) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hamilton, Bermuda</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Provides life and annuity reinsurance to affiliates</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Bank of Canada</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top" align="center">Waterloo, Canada</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Provides integrated banking products and service options not
 available from an insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management Holdings (Canada), Inc.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
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 Holding company</p>
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 Manulife Asset Management Limited</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
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 Provides investment counseling, portfolio and mutual fund
 management in Canada</p>
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 First North American Insurance Company</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
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 Property and casualty insurance company</p>
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 NAL Resources Management Limited</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Calgary, Canada</p>
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 Management company for oil and gas properties</p>
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 Manulife Resources Limited</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Calgary, Canada</p>
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 &#xA0;</td>
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 Holds oil and gas properties</p>
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 Manulife Property Limited Partnership</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
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 Holds oil and gas royalties</p>
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 Manulife Property Limited Partnership II</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
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 Holds oil and gas royalties and foreign bonds and equities</p>
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 Manulife Western Holdings Limited Partnership</p>
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 &#xA0;</td>
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 Holds oil and gas properties</p>
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 &#xA0;</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Securities Investment Services, Inc.</p>
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 Mutual fund dealer for Canadian operations</p>
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 Manulife Holdings (Bermuda) Limited</p>
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 &#xA0;</td>
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 Holding company</p>
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 &#xA0;</p>
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 Manufacturers P&amp;C Limited</p>
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 &#xA0;</p>
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 &#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">St. Michael, Barbados</p>
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 &#xA0;</td>
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 Provides property and casualty reinsurance</p>
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 &#xA0;</p>
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 Manulife Financial Asia Limited</p>
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 &#xA0;</p>
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 &#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hong Kong, China</p>
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 &#xA0;</td>
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 Holding company</p>
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 &#xA0;</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife (Cambodia) PLC</p>
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 &#xA0;</p>
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 &#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Phnom Penh, Cambodia</p>
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 &#xA0;</td>
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 Life insurance company</p>
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 &#xA0;</p>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manufacturers Life Reinsurance Limited</p>
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 &#xA0;</p>
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 &#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">St. Michael, Barbados</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
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 &#xA0;</td>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Provides life and annuity reinsurance to affiliates</p>
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 &#xA0;</p>
 </td>
 </tr>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife (Vietnam) Limited</p>
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 &#xA0;</p>
 </td>
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 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Ho Chi Minh City, Vietnam</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
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 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Vietnam) Company Limited</p>
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 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Ho Chi Minh City, Vietnam</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
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 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Fund management company</p>
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 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife International Holdings Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hong Kong, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife (International) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hong Kong, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife-Sinochem Life Insurance Co. Ltd. (51%)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Shanghai, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management International Holdings Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hong Kong, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 7em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Hong Kong) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hong Kong, China</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment management and advisory company marketing mutual
 funds</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 9em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Taiwan) Co., Ltd.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Taipei, Taiwan (China)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Asset management company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Life Insurance Company (Japan)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Tokyo, Japan</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Japan) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Tokyo, Japan</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment management and advisory company and mutual fund
 business</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Insurance (Thailand) Public Company Limited
 (85.8%)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Bangkok, Thailand</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Thailand) Company Limited
 (92.7%)<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(1)</sup></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Bangkok, Thailand</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment management company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Holdings Berhad (59.5%)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Kuala Lumpur, Malaysia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Insurance Berhad (59.5%)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Kuala Lumpur, Malaysia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management Services Berhad (59.5%)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Kuala Lumpur, Malaysia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Asset management company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife (Singapore) Pte. Ltd.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Singapore</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Singapore) Pte. Ltd.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Singapore</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Asset management company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 The Manufacturers Life Insurance Co. (Phils.), Inc.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Makati City, Philippines</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
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 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 6em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Chinabank Life Assurance Corporation (60%)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Makati City, Philippines</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
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 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 PT Asuransi Jiwa Manulife Indonesia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Jakarta, Indonesia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 PT Manulife Aset Manajemen Indonesia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Jakarta, Indonesia</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment management company marketing mutual funds and
 discretionary funds</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (Europe) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">London, England</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment management company for Manulife Financial&#x2019;s
 international funds</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Assurance Company of Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Life insurance company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 EIS Services (Bermuda) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Hamilton, Bermuda</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Berkshire Insurance Services Inc.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 JH Investments (Delaware), LLC</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Boston, Massachusetts,&#xA0;U.S.A.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment holding company</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Securities Incorporated</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Oakville, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment dealer</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Manulife Asset Management (North America) Limited</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Toronto, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Investment advisor</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Regional Power Inc.</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">Mississauga, Canada</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 Developer and operator of hydro-electric power projects</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 1pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">MFC voting rights percentages are the same as the
 ownership percentages except for Manulife Insurance (Thailand)
 Public Company Limited and Manulife Asset Management (Thailand)
 Company Limited where MFC&#x2019;s voting rights are 93.0% and
 96.4%, respectively.</p>
 </td>
 </tr>
 </table>


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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segregated Funds (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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 The composition of net assets by categories of segregated funds was
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 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="center">Ranges in per cent</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt">
 <b>Type of fund</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 12pt" align="right">2017</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Money market funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>2%&#xA0;to&#xA0;3%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">2% to 3%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Fixed income funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>14%&#xA0;to&#xA0;15%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">
 14%&#xA0;to&#xA0;15%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balanced funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>25% to 26%</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">22% to 29%</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity funds</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>58% to
 60%</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap" align="right">55% to 60%</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSummaryOfCompositionOfSegregatedFundsExplanatory', window );">Summary of Composition of Segregated Funds Net Assets</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 6pt">
 The carrying value and change in segregated funds net assets are as
 follows.&#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Segregated funds net assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="79%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Investments at market value</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Cash and short-term securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,700</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,756</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Debt securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,313</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,472</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,661</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">12,624</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Mutual funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>277,133</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">288,007</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other investments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,678</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,514</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Accrued investment income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,811</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">201</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other assets and liabilities, net</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(700</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(766</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total segregated funds net assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>313,596</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">324,808</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Composition of segregated funds net assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Held by policyholders</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Held by the Company</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>387</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">501</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total segregated funds net assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;313,596</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;324,808</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfChangesInSegregatedFundsNetAssetsExplanatory', window );">Summary of Changes in Segregated Funds Net Assets</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font color="#1F320C"><b>Changes in segregated funds net
 assets</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="79%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="5"></td>
 <td bgcolor="#DDE0DA" height="5" colspan="4"></td>
 <td height="5" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the years ended
 December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net policyholder cash flow</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deposits from policyholders</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>38,236</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">34,776</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net transfers to general fund</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,089</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,734</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Payments to policyholders</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(47,475</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(46,305</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(10,328</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(13,263</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Investment related</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest and dividends</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,535</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,930</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net realized and unrealized investment gains (losses)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(34,683</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">24,384</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(15,148</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">41,314</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Other</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Management and administration fees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,985</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4,161</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Impact of changes in foreign exchange rates</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18,249</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(14,790</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14,264</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(18,951</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net additions (deductions)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(11,212</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9,100</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net assets, beginning of year</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>324,808</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">315,708</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Segregated funds net assets, end of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;313,596</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;324,808</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of changes in segregated funds net assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for composition of net assets by categories of segregated funds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of summary of composition of segregated funds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811989072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Information Provided in Connection with Investments in Deferred Annuity Contracts and SignatureNotes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.) (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfCondensedBalanceSheetTableTextBlock', window );">Condensed Consolidated Statement of Financial Position</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Condensed Consolidated Statement of
 Financial Position</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="54%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
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 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">JHUSA<br />
 (Issuer)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Other<br />
 subsidiaries</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Consolidated<br />
 MFC</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Assets</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>105,043</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>248,962</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(362</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>353,664</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investments in unconsolidated subsidiaries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>54,015</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,356</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,738</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(79,109</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reinsurance assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>63,435</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>9,136</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(29,518</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>43,053</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>331</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,025</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>43,213</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(20,224</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>40,345</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>168,476</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>146,671</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,938</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>313,209</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>54,367</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>361,335</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>465,720</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(131,151</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>750,271</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Liabilities and equity</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Insurance contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>155,162</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>203,682</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(30,190</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>328,654</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,191</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,076</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,265</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>275</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>18,136</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>46,072</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(19,992</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>44,491</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Long-term debt</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,769</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,769</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital instruments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,359</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>632</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,741</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,732</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>168,476</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>146,671</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,938</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>313,209</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Shareholders&#x2019; equity</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>45,964</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,738</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>61,291</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(79,029</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>45,964</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Participating policyholders&#x2019; equity</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>94</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>94</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>
 interests</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,093</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,093</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total liabilities and equity</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;54,367</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;361,335</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;465,720</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;(131,151</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;750,271</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 12pt">
 <font color="#1F320C"><b>Condensed Consolidated Statement of
 Financial Position</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="54%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">JHUSA<br />
 (Issuer)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Other<br />
 subsidiaries</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Consolidated<br />
 MFC</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Assets</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">21</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">108,144</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">226,421</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(364</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">334,222</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investments in unconsolidated subsidiaries</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">48,374</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">6,509</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14,999</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(69,882</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Reinsurance assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">49,927</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8,281</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(27,849</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">30,359</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">314</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,678</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40,715</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(19,062</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">40,645</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net assets</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">176,139</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">149,812</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(1,644</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">324,307</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;48,709</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;359,397</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;440,228</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(118,801</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;729,533</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Liabilities and equity</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Insurance contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">147,155</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">185,884</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(28,434</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">304,605</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,130</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,998</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,126</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">297</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,399</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">41,395</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(18,930</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">42,161</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Long-term debt</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,784</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,784</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital instruments</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,615</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">584</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,188</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">8,387</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Segregated funds net liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">176,139</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">149,812</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,644</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">324,307</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Shareholders&#x2019; equity</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">41,013</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">14,990</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">54,801</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(69,791</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">41,013</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Participating policyholders&#x2019; equity</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">221</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">221</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>
 interests</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">929</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">929</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total liabilities and equity</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">48,709</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">359,397</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">440,228</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(118,801</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">729,533</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfCondensedIncomeStatementTableTextBlock', window );">Condensed Consolidated Statement of Income</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Condensed Consolidated Statement of
 Income</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="50%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">JHUSA<br />
 (Issuer)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Other<br />
 subsidiaries</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Consolidated<br />
 MFC</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gross premiums</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,452</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>31,814</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,116</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>39,150</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Premiums ceded to reinsurers</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(14,149</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,105</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,116</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(15,138</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net premium income</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(5,697</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>29,709</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>24,012</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>445</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>907</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,126</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(946</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,532</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,799</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>9,820</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,189</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,428</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>443</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,991</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>43,655</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,135</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>38,972</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Contract benefits and expenses</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net benefits and claims</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(7,403</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>22,862</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>475</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,934</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Commissions, investment and general expenses</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>19</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,427</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>14,052</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,660</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;15,838</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other expenses</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>380</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>233</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(950</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,681</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total contract benefits and expenses</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>399</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;(3,743</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;38,932</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(2,135</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>33,453</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) before income taxes</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>44</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>752</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,723</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,519</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income tax (expense) recovery</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(11</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>223</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(844</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(632</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) after income taxes</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>33</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>975</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,879</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,887</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity in net income (loss) of unconsolidated subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,767</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,206</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,181</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8,154</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss)</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;4,800</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,181</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,060</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;(8,154</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,887</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss) attributed to:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>
 interests</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Participating policyholders</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(127</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(127</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Shareholders</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,191</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,973</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8,164</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>4,800</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,181</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,060</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(8,154</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;4,887</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 12pt">
 <font color="#1F320C"><b>Condensed Consolidated Statement of
 Income</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="50%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">MFC<br />
 (Guarantor)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">JHUSA<br />
 (Issuer)</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Other<br />
 subsidiaries</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Consolidation<br />
 adjustments</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">Consolidated<br />
 MFC</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Revenue</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Gross premiums</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">8,561</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">22,895</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,905</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">36,361</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Premiums ceded to reinsurers</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,523</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(5,765</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(4,909</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(8,151</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net premium income</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,084</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">17,130</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">28,210</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net investment income (loss)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">178</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,986</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,947</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(744</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,367</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net other revenue</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">4</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,874</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10,864</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(2,996</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">10,746</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total revenue</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">182</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">21,944</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">39,941</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(3,744</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">58,323</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Contract benefits and expenses</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net benefits and claims</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">20,803</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">19,179</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(681</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">39,301</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Commissions, investment and general expenses</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,208</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,852</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,049</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,022</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other expenses</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">404</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">194</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,915</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(1,014</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,499</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total contract benefits and expenses</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">415</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;24,205</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;34,946</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;(3,744</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">55,822</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) before income taxes</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(233</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,261</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,995</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,501</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income tax (expense) recovery</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">62</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,134</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(1,435</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(239</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Income (loss) after income taxes</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(171</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,127</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,560</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,262</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity in net income (loss) of unconsolidated subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,275</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">628</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(486</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(2,417</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income (loss)</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;2,104</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(499</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">3,074</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(2,417</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,262</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss) attributed to:</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 <font style="WHITE-SPACE: nowrap">Non-controlling</font>
 interests</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">194</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">$</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">194</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Participating policyholders</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(10</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(36</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(36</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Shareholders</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(489</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,916</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">(2,427</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">2,104</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(499</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">3,074</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">(2,417</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;2,262</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfCondensedCashFlowStatementTableTextBlock', window );">Consolidated Statement of Cash Flows</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Consolidated Statement of Cash
 Flows</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="55%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">MFC</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(Guarantor)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">JHUSA</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(Issuer)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Other</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Consolidation</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">adjustments</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Consolidated</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">MFC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Operating activities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;4,800</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;2,181</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;6,060</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(8,154</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,887</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Adjustments:</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity in net income of unconsolidated subsidiaries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(4,767</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,206</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(2,181</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,154</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Increase (decrease) in insurance contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(5,273</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,180</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,907</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Increase (decrease) in investment contract liabilities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(86</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>121</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>35</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 (Increase) decrease in reinsurance assets excluding coinsurance
 transactions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,609</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(716</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>893</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Amortization of (premium) discount on invested assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>58</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>154</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>212</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other amortization</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>4</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>225</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>518</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>747</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Net realized and unrealized (gains) losses and impairment on
 assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,158</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,580</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,727</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Deferred income tax expense (recovery)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>11</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>679</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>240</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>930</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Restructuring charge</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>43</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>113</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>156</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Stock option expense</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash provided by (used in) operating activities before undernoted
 items</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>37</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,388</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>17,079</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,504</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Dividends from unconsolidated subsidiary</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,700</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>405</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>777</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,882</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in policy related and operating receivables and
 payables</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>251</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(536</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(31</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(316</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) operating activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,988</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,257</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>17,825</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3,882</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>19,188</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Investing activities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Purchases and mortgage advances</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(38,799</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(62,373</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(101,172</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Disposals and repayments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>35,817</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>46,294</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>82,111</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in investment broker net receivables and payables</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(169</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>41</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(128</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment in common shares of subsidiaries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,284</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,284</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net cash decrease from purchase of subsidiaries and businesses</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>187</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>187</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital contribution to unconsolidated subsidiaries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return of capital from unconsolidated subsidiaries</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes receivable from parent</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>83</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes receivable from subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(23</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(61</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>84</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) investing activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,307</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(3,154</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(15,934</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,393</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(19,002</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financing activities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 (Decrease) increase in repurchase agreements and securities sold
 but not yet purchased</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(189</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(189</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redemption of long-term debt</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(400</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(400</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issue of capital instruments, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>597</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>597</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redemption of capital instruments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(450</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(450</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Secured borrowings from securitization transactions</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>250</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in deposits from Bank clients, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,490</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,490</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Shareholders&#x2019; dividends paid in cash</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,788</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,788</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Dividends paid to parent</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(777</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(3,105</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,882</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Contributions from (distributions
 to)&#xA0;<font style="WHITE-SPACE: nowrap">non-controlling</font>&#xA0;interests,
 net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(60</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(60</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Common shares repurchased</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(478</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(478</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Common shares issued, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>59</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,284</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,284</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>59</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Preferred shares issued, net</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>245</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital contributions by parent</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(14</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return of capital to parent</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>72</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes payable to parent</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>84</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(84</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes payable to subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>83</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(83</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) financing activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,682</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(777</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(754</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,489</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(724</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Increase (decrease) during the year</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,674</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,137</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(538</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Effect of foreign exchange rate changes on cash and short-term
 securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>353</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>468</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>822</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, beginning of year</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,638</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>11,439</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>15,098</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, end of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,317</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,044</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>15,382</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Beginning of year</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross cash and short-term securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,133</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,811</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,965</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net payments in transit, included in other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(495</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(372</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(867</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net cash and short-term securities, beginning of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>3,638</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>11,439</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>15,098</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>End of year</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross cash and short-term securities</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,783</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,411</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>16,215</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net payments in transit, included in other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(466</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(367</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(833</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net cash and short-term securities, end of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>21</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,317</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>13,044</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;15,382</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Supplemental disclosures on cash flow information:</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest received</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>427</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,381</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,074</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(930</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>10,952</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Interest paid</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>373</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>92</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,677</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(930</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,212</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Income taxes paid</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(59</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>286</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>234</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right">
 <b>&#x2013;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>461</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Consolidated Statement of Cash
 Flows</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="55%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <font color="#1F320C"><b>For the year ended December&#xA0;31,
 2017</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">MFC</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(Guarantor)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">JHUSA</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">(Issuer)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Other</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Consolidation</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">adjustments</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">Consolidated</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">MFC</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Operating activities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income (loss)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,104</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(499</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">3,074</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">(2,417</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">2,262</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Adjustments:</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Equity in net income of unconsolidated subsidiaries</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,275</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(628</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">486</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,417</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Increase (decrease) in insurance contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">16,877</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,146</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;20,023</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Increase (decrease) in investment contract liabilities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">55</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">118</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">173</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 (Increase) decrease in reinsurance assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,890</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,159</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,269</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Amortization of (premium) discount on invested assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">24</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">206</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">230</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Other amortization</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">123</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">433</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">560</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Net realized and unrealized (gains) losses and impairment on
 assets</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,609</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4,572</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7,188</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Deferred income tax expense (recovery)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(59</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,239</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,967</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(331</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1.5em">
 Stock option expense</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(4</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">19</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">15</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Cash provided by (used in) operating activities before undernoted
 items</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(233</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9,210</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">9,036</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">18,013</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Dividends from unconsolidated subsidiary</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;2,700</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">125</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,175</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(4,000</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in policy related and operating receivables and
 payables</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(45</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(4,627</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">4,450</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(222</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) operating activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">2,422</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">4,708</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">14,661</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(4,000</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">17,791</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Investing activities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Purchases and mortgage advances</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(30,645</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(56,579</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(87,224</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Disposals and repayments</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;26,952</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;43,768</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">70,720</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in investment broker net receivables and payables</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">182</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">45</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">227</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Investment in common shares of subsidiaries</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,473</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">&#xA0;&#xA0;&#xA0;2,473</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net cash decrease from purchase of subsidiaries and businesses</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(10</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(10</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital contribution to unconsolidated subsidiaries</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(63</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">63</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return of capital from unconsolidated subsidiaries</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(11</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes receivables from affiliates</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">201</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(201</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes receivable from parent</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">368</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">24</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(392</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes receivable from subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(16</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(10</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">26</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) investing activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(2,489</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(3,205</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(12,551</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">1,958</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(16,287</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Financing activities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 (Decrease) increase in repurchase agreements and securities sold
 but not yet purchased</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(29</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(29</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redemption of long-term debt</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(600</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(7</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(607</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Issue of capital instruments, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,209</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,209</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Redemption of capital instruments</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(899</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(899</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Secured borrowings from securitization transactions</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">741</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">741</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Changes in deposits from Bank clients, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">261</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">261</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Shareholders&#x2019; dividends paid in cash</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,780</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,780</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Contributions from (distributions
 to)&#xA0;<font style="WHITE-SPACE: nowrap">non-controlling</font>&#xA0;interests,
 net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(6</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(6</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Common shares issued, net</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">124</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">2,473</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,473</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">124</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Dividends paid to parent</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(1,175</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2,825</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,000</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital contributions by parent</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">63</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(63</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Return of capital to parent</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(11</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes payable to affiliates</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(201</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">201</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes payable to parent</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">26</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(26</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Notes payable to subsidiaries</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(24</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(368</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">392</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash provided by (used in) financing activities</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(71</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(1,376</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">(581</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">2,042</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">14</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Increase (decrease) during the year</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(138</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">127</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,529</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,518</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Effect of foreign exchange rate changes on cash and short-term
 securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(2</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(276</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(380</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">(658</td>
 <td valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balance, beginning of year</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">161</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">3,787</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">10,290</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">14,238</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Balance, end of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">21</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">3,638</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">11,439</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">15,098</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Cash and short-term securities</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Beginning of year</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross cash and short-term securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">161</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,317</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">10,673</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,151</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net payments in transit, included in other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(530</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(383</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(913</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net cash and short-term securities, beginning of year</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">161</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">3,787</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">10,290</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">14,238</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>End of year</b></p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross cash and short-term securities</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">21</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,133</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">11,811</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">15,965</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net payments in transit, included in other liabilities</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(495</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" align="right">(372</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap" align="right">&#x2013;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
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 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">21</td>
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 $</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">3,638</td>
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 $</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">99</td>
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 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">1,084</td>
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 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">177</td>
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 &#xA0;&#xA0;</td>
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 &#xA0;&#xA0;</td>
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 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" align="right">1,360</td>
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 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Macro equity risk hedging</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Asset liability management</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Foreign exchange management</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Liquidity risk management</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman">&#x2713;</font></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfFinancialLiabilitiesMaturityExplanatory', window );">Schedule of Maturity of Financial Liabilities</a></td>
<td class="text"><div>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">The following table outlines the
 maturity of the Company&#x2019;s significant financial
 liabilities.</font></p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Maturity
 of financial liabilities</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="58%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Less
 than<br />
 1 year</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">1 to
 3<br />
 years</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">3 to
 5<br />
 years</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">Over
 5<br />
 years</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Total</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Long-term debt</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>681</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,088</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,769</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Capital instruments</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap" align="right"><b>&#x2013;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,732</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>8,732</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Derivatives</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>359</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>229</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>227</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>6,988</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>7,803</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Deposits from Bank clients<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>15,351</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,147</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,185</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>1</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>19,684</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Lease obligations</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>129</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>203</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>93</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>150</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>575</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The amounts shown above are net of the related
 unamortized deferred issue costs.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Carrying value and fair value of deposits from Bank
 clients as at December&#xA0;31, 2018 was $19,684&#xA0;million and
 $19,731&#xA0;million, respectively (2017 &#x2013;
 $18,131&#xA0;million and $18,149&#xA0;million, respectively). Fair
 value is determined by discounting contractual cash flows, using
 market interest rates currently offered for deposits with similar
 terms and conditions. All deposits from Bank clients were
 categorized in Level&#xA0;2 of the fair value hierarchy (2017
 &#x2013; Level&#xA0;2).</p>
 </td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfVariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceExplanatory', window );">Summary of Variable Annuity and Segregated Fund Guarantees, Net of Reinsurance</a></td>
<td class="text"><div>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-BOTTOM: 0pt; MARGIN-TOP: 6pt">
 <font style="FONT-FAMILY: ARIAL">The table below shows selected
 information regarding the Company&#x2019;s variable annuity and
 segregated fund investment-related guarantees gross and net of
 reinsurance.</font></p>
 </div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 14pt">
 <font style="FONT-FAMILY: ARIAL"><font color="#1F320C"><b>Variable
 annuity and segregated fund guarantees, net of
 reinsurance</b></font></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <div style="MAX-WIDTH: 100%; PADDING-BOTTOM: 3pt; PADDING-TOP: 2pt; MARGIN-LEFT: -1%; BACKGROUND-COLOR: #e9edf2; MARGIN-RIGHT: -1%">
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="98%" align="center" border="0">
 <tr>
 <td width="51%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td valign="bottom" width="4%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" rowspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="10" align="center"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center">2017</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">Guarantee<br />
 value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Fund&#xA0;value</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" nowrap="nowrap" align="right">
 Amount&#xA0;at<br />
 risk<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="2">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right">Guarantee<br />
 value</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right">Fund&#xA0;value</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="right">Amount<br />
 at&#xA0;risk<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4),(5)</sup></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Guaranteed minimum income benefit<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>5,264</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,675</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,593</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">5,201</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">4,195</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">1,074</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Guaranteed minimum withdrawal benefit</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>60,494</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>49,214</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>11,388</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">61,767</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">56,512</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">5,943</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Guaranteed minimum accumulation benefit</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18,611</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>18,720</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>141</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">18,162</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">18,705</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">11</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross living benefits<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>84,369</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>71,609</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>13,122</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">85,130</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">79,412</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">7,028</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Gross death benefits<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>10,663</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>14,654</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,567</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">10,743</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">16,973</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">1,001</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total gross of reinsurance</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;95,032</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;86,263</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;14,689</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">&#xA0;&#xA0;95,873</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">96,385</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">8,029</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Living benefits reinsured</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>4,515</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>3,173</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,343</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">4,522</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">3,667</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">911</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Death benefits reinsured</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,353</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>2,070</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>493</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">3,014</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">3,040</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">435</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Total reinsured</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>6,868</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>5,243</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,836</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">7,536</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">6,707</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">1,346</td>
 <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total, net of reinsurance</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>88,164</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>81,020</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>12,853</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">88,337</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;89,678</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;6,683</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Contracts with guaranteed long-term care benefits are
 included in this category.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Where a policy includes both living and death
 benefits, the guarantee in excess of the living benefit is included
 in the death benefit category as outlined in footnote 3.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Death benefits include stand-alone guarantees and
 guarantees in excess of living benefit guarantees where both death
 and living benefits are provided on a policy.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Amount at risk <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">(in-the-money</font></font> amount) is the
 excess of guarantee values over fund values on all policies where
 the guarantee value exceeds the fund value. This amount is not
 currently payable. For guaranteed minimum death benefit, the amount
 at risk is defined as the current guaranteed minimum death benefit
 in excess of the current account balance. For guaranteed minimum
 income benefit, the amount at risk is defined as the excess of the
 current annuitization income base over the current account value.
 For all guarantees, the amount at risk is floored at zero at the
 single contract level.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="PAGE-BREAK-INSIDE: avoid">
 <td valign="top" width="1%" align="left"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The amount at risk net of reinsurance at
 December&#xA0;31, 2018 was $12,853&#xA0;million (2017 &#x2013;
 $6,683 million) of which: US$6,899&#xA0;million (2017 &#x2013;
 US$3,982 million) was on our U.S. business, $2,654&#xA0;million
 (2017 &#x2013; $1,342 million) was on our Canadian business,
 US$332&#xA0;million (2017 &#x2013; US$95 million) was on our Japan
 business and US$246&#xA0;million (2017 &#x2013; US$181 million) was
 related to Asia (other than Japan) and our <font style="WHITE-SPACE: nowrap">run-off</font> reinsurance business.</p>
 </td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory', window );">Summary of Investment Categories for Variable Contracts with Guarantees</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; PADDING-TOP: 0pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">Variable contracts with
 guarantees, including variable annuities and variable life, are
 invested, at the policyholder&#x2019;s discretion subject to
 contract limitations, in various fund types within the segregated
 fund accounts and other investments. The account balances by
 investment category are set out below.</font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 <font style="FONT-FAMILY: ARIAL">&#xA0;</font></p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td width="78%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="3%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 ($ millions)</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt">
 <font color="#1F320C"><b>Investment category</b></font></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><b>2018</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" colspan="2" align="right">2017</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Equity funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>43,528</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">$</td>
 <td valign="bottom" align="right">47,508</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Balanced funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>41,625</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">47,369</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Bond funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>12,309</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">13,095</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Money market funds</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>2,107</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom" align="right">1,905</td>
 <td valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Other fixed interest rate investments</p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,997</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" align="right">1,777</td>
 <td style="BORDER-BOTTOM: #1f320c 1px solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; PAGE-BREAK-INSIDE: avoid">
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Total</b></p>
 </td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>&#xA0;&#xA0;101,566</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom">$</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" align="right">&#xA0;&#xA0;111,654</td>
 <td style="BORDER-BOTTOM: #1f320c 1pt solid" valign="bottom" nowrap="nowrap">&#xA0;</td>
 </tr>
 </table>
 </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsExplanatory', window );">Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders Arising from Changes to Public Equity Returns</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Potential immediate impact on net income
 attributed to shareholders arising from changes to public equity
 returns</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(1),(2),(3)</sup></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom"></td>
 <td width="56%"></td>
 <td valign="bottom" width="3%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <font color="#1F320C"><b>As at December&#xA0;31,
 2018</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-30%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-20%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+20%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+30%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 <b>Underlying sensitivity to net income attributed to
 shareholders</b><font style="FONT-SIZE: 5pt"><sup style="FONT-SIZE: 5px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(4)</sup></font></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Variable annuity guarantees</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;(3,650</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;(2,240</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;(1,040</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;&#xA0;890</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;&#xA0;1,610</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;&#xA0;2,170</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Asset based fees (annualized)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(480</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(320</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(160</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>160</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>320</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>480</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 General fund equity investments<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(5)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(1,150</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(780</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(390</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>290</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>580</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>860</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Total underlying sensitivity before hedging</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(5,280</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(3,340</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(1,590</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>1,340</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>2,510</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>3,510</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Impact of macro and dynamic hedge assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>3,110</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>1,940</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>910</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(820</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(1,450</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(1,930</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 <b>Net potential impact on net income attributed to shareholders
 after impact of hedging</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(2,170</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(1,400</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>(680</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>520</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>1,060</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>1,580</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 1pt">
 <td height="16"></td>
 <td height="16" colspan="2"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 <td height="16" colspan="4"></td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 As at December&#xA0;31, 2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-30%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-20%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+20%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+30%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top" colspan="8">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 <b>Underlying sensitivity to net income attributed to
 shareholders</b><font style="FONT-SIZE: 5pt"><sup style="FONT-SIZE: 5px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(4)</sup></font></p>
 </td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 0em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: 0em">
 <font style="FONT-SIZE: 5pt"><b>&#xA0;</b></font></p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Variable annuity guarantees</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(3,940</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(2,260</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(960</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">670</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">1,110</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">1,410</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Asset based fees (annualized)</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(510</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(340</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(170</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">170</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">340</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">510</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 General fund equity investments<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(5)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(930</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(590</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(270</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">270</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">540</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">810</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Total underlying sensitivity before hedging</p>
 </td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(5,380</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(3,190</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(1,400</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">&#xA0;&#xA0;1,110</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">1,990</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">2,730</p>
 </td>
 <td valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 Impact of macro and dynamic hedge assets<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top; LINE-HEIGHT: 7pt">(6)</sup></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">3,220</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">1,850</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">790</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(640</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">&#xA0;&#xA0;(1,100</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">&#xA0;&#xA0;(1,410</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net potential impact on net income attributed to shareholders
 after impact of hedging</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(2,160</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(1,340</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">(610</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">470</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">890</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">1,320</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">See &#x201C;Caution Related to Sensitivities&#x201D;
 above.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The tables show the potential impact on net income
 attributed to shareholders resulting from an immediate 10%, 20% and
 30% change in market values of publicly traded equities followed by
 a return to the expected level of growth assumed in the valuation
 of policy liabilities.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Please refer to &#x201C;Sensitivity of Earnings to
 Changes in Assumptions&#x201D; for more information on the level of
 growth assumed and on the net income sensitivity to changes in
 these long-term assumptions.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Defined as earnings sensitivity to a change in public
 equity markets including settlements on reinsurance contracts, but
 before the offset of hedge assets or other risk mitigants.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">This impact for general fund equities is calculated as
 at a&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">point-in-time</font></font>&#xA0;and
 does not include: (i)&#xA0;any potential impact on public equity
 weightings; (ii)&#xA0;any gains or losses on AFS public equities
 held in the Corporate and Other segment; or (iii)&#xA0;any gains or
 losses on public equity investments held in Manulife Bank. The
 participating policy funds are largely self-supporting and generate
 no material impact on net income attributed to shareholders as a
 result of changes in equity markets.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes the impact of rebalancing equity hedges in
 the macro and dynamic hedging program. The impact of dynamic hedge
 rebalancing represents the impact of rebalancing equity hedges for
 dynamically hedged variable annuity guarantee best estimate
 liabilities at 5% intervals but does not include any impact in
 respect of other sources of hedge ineffectiveness (e.g. fund
 tracking, realized volatility and equity, interest rate
 correlations different from expected among other factors).</p>
 </td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersAndMLILICATRatioOfImmediateParallelChangeInInterestRatesRelativeToRatesAssumedInValuationOfPolicyLiabilitiesTextBlock', window );">Summary of Potential Impact on Net Income Attributed to Shareholders and MLI's LICAT Total Ratio of an Immediate Parallel Change in Interest Rates Relative to Rates Assumed in the Valuation of Policy Liabilities</a></td>
<td class="text"><div>
 <div>
 <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14px; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders and MLI&#x2019;s LICAT total ratio of an immediate
 parallel change in interest rates relative to rates assumed in the
 valuation of policy liabilities</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(1),(2),(3),(4)</sup></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 </div>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom" width="2%"></td>
 <td width="66%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="2%"></td>
 <td width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid" bgcolor="#E9EDF2">
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="6">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom" colspan="9">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center"><font style="FONT-SIZE: 7pt"><b>2018</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6" align="center"><font style="FONT-SIZE: 7pt">2017</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"><font style="FONT-SIZE: 7pt" color="#1F320C"><b>As at December&#xA0;31,</b></font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">-50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">+50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">-50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right"><font style="FONT-SIZE: 7pt">+50bp</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 <b>Net income attributed to shareholders ($ millions)</b></p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#DDE0DA" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Excluding change in market value of AFS fixed income assets held in
 the Corporate and Other segment</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right"><b>100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">(200</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">100</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 From fair value changes in AFS fixed income assets held in the
 Corporate and Other segment, if realized</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>1,600</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>(1,500</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">1,100</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">(1,000</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="top"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">See &#x201C;Caution Related to Sensitivities&#x201D;
 above. In addition, estimates exclude changes to the net actuarial
 gains/losses with respect to the Company&#x2019;s pension
 obligations as a result of changes in interest rates, as the impact
 on the quoted sensitivities is not considered to be material.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes guaranteed insurance and annuity products,
 including variable annuity contracts as well as adjustable benefit
 products where benefits are generally adjusted as interest rates
 and investment returns change, a portion of which have minimum
 credited rate guarantees. For adjustable benefit products subject
 to minimum rate guarantees, the sensitivities are based on the
 assumption that credited rates will be floored at the minimum.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The amount of gain or loss that can be realized on AFS
 fixed income assets held in the Corporate and Other segment will
 depend on the aggregate amount of unrealized gain or loss.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Sensitivities are based on projected asset and
 liability cash flows and the impact of realizing fair value changes
 in AFS fixed income is based on the holdings at the end of the
 period.</p>
 </td>
 </tr>
 </table>
 </div>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. The LICAT
 ratio is not applicable before January 1, 2018.</p>
 </td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongDurationAssetPerformanceRiskMember', window );">Alternative Long-Duration Asset Performance Risk [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersArisingFromChangesToSpreadsExplanatory', window );">Summary of Potential Impact on Net Income Attributed to Shareholders Arising from Changes to Spreads</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders arising from changes in ALDA
 returns</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(1),(2),(3),(4),(5),(6)</sup></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom"></td>
 <td width="70%"></td>
 <td valign="bottom" width="2%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 <td></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" rowspan="2">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" rowspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <font color="#1F320C"><b>As at December&#xA0;31,</b></font></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 ($ millions)</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="center"><b>2018</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6" align="center">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="center">2017</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">-10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2" align="right">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">+10%</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom" colspan="2">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Real estate, agriculture and timber assets</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;(1,300</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;1,200</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;(1,300</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;1,300</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Private equities and other ALDA</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>(1,600</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom"><b>&#xA0;</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" align="right"><b>1,600</b></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" align="right">(1,500</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" align="right">1,400</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -1em">
 <b>Alternative long-duration assets</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;&#xA0;&#xA0;(2,900</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>)&#xA0;</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>$</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right"><b>&#xA0;&#xA0;&#xA0;&#xA0;2,800</b></p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 <b>&#xA0;</b></p>
 </td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">&#xA0;&#xA0;&#xA0;&#xA0;(2,800</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 )&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 $</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt" align="right">&#xA0;&#xA0;&#xA0;&#xA0;2,700</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt; LINE-HEIGHT: 10pt">
 &#xA0;</p>
 </td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 </table>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">See &#x201C;Caution Related to Sensitivities&#x201D;
 above.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">This impact is calculated as at
 a&#xA0;<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">point-in-time</font></font>&#xA0;impact
 and does not include: (i)&#xA0;any potential impact on ALDA
 weightings or (ii)&#xA0;any gains or losses on ALDA held in the
 Corporate and Other segment.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes in ALDA returns.
 For some classes of ALDA, where there is not an appropriate
 long-term benchmark available, the return assumptions used in
 valuation are not permitted by the Standards of Practice and CIA
 guidance to result in a lower reserve than an assumption based on a
 historical return benchmark for public equities in the same
 jurisdiction.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Net income impact does not consider any impact of the
 market correction on assumed future return assumptions.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Please refer to &#x201C;Sensitivity of Earnings to
 Changes in Assumptions&#x201D; below, for more information on the
 level of growth assumed and on the net income sensitivity to
 changes in these long-term assumptions.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(6)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impact of changes to the portfolio asset mix
 supporting our North American legacy business are reflected in the
 sensitivities when the changes take place.</p>
 </td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CorporateAndSwapSpreadsMember', window );">Corporate and swap spreads [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersArisingFromChangesToSpreadsExplanatory', window );">Summary of Potential Impact on Net Income Attributed to Shareholders Arising from Changes to Spreads</a></td>
<td class="text"><div>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 14pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <font color="#1F320C"><b>Potential impact on net income attributed
 to shareholders and MLI&#x2019;s LICAT total ratio arising from
 changes to corporate spreads and swap
 spreads</b></font><font style="FONT-SIZE: 6pt; FONT-FAMILY: ARIAL" color="#1F320C"><sup style="FONT-SIZE: 6px; VERTICAL-ALIGN: top">(1),(2),(3)</sup></font></p>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <table style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
 <tr>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td width="72%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom"></td>
 <td></td>
 <td></td>
 <td valign="bottom" width="1%"></td>
 <td valign="bottom" width="1%"></td>
 <td></td>
 </tr>
 <tr style="FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; break-inside: avoid" bgcolor="#E9EDF2">
 <td valign="top"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;&#xA0;</td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom"></td>
 <td valign="bottom">&#xA0;</td>
 <td valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"><b>Corporate
 spreads<sup style="FONT-SIZE: 9px; VERTICAL-ALIGN: top">(4),(5)</sup></b>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center"><b>2018</b></p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="6">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="center">2017</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"><font color="#1F320C"><b>As at
 December&#xA0;31,</b></font>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+50bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income attributed to shareholders ($ millions)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(600</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;&#xA0;600</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;(1,000</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;1,000</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 </td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom"><font color="#1F320C"><b>As at
 December&#xA0;31,</b></font>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt">
 &#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#DDE0DA" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">-20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom" colspan="2">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="right">+20bp</p>
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 2pt; MARGIN-TOP: 0pt" align="left">&#xA0;</p>
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1px solid" bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td bgcolor="#E9EDF2" valign="top"></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="top">
 <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
 Net income attributed to shareholders ($ millions)</p>
 </td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="top"><b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="top">
 <b>$&#xA0;&#xA0;&#xA0;&#xA0;100</b></td>
 <td bgcolor="#DDE0DA" valign="top" nowrap="nowrap">
 <b>&#xA0;</b></td>
 <td bgcolor="#DDE0DA" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#DDE0DA" valign="bottom"><b>$</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" align="right">
 <b>&#xA0;&#xA0;&#xA0;(100</b></td>
 <td bgcolor="#DDE0DA" valign="bottom" nowrap="nowrap">
 <b>)&#xA0;</b></td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;&#xA0;400</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">$</td>
 <td bgcolor="#E9EDF2" valign="bottom" align="right">
 &#xA0;&#xA0;&#xA0;(400</td>
 <td bgcolor="#E9EDF2" valign="bottom" nowrap="nowrap">)&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom">&#xA0;</td>
 <td bgcolor="#E9EDF2" valign="bottom"></td>
 </tr>
 <tr style="FONT-SIZE: 8pt; FONT-FAMILY: ARIAL; break-inside: avoid">
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="top">
 <font size="1">&#xA0;</font></td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 &#xA0;</td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 </td>
 <td style="BORDER-BOTTOM: rgb(31,50,12) 1pt solid" valign="bottom">
 <font size="1">&#xA0;</font></td>
 </tr>
 </table>
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 2pt; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 &#xA0;</p>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; BORDER-TOP: rgb(233,237,242) 1px solid; FONT-FAMILY: ARIAL; BORDER-RIGHT: rgb(233,237,242) 1px solid; WHITE-SPACE: normal; WORD-SPACING: 0px; BORDER-BOTTOM: rgb(233,237,242) 1px solid; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; BORDER-LEFT: rgb(233,237,242) 1px solid; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(233,237,242); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(1)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">See &#x201C;Caution Related to Sensitivities&#x201D;
 above.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(2)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">The impact on net income attributed to shareholders
 assumes no gains or losses are realized on our AFS fixed income
 assets held in the Corporate and Other segment and excludes the
 impact of changes in segregated fund bond values due to changes in
 credit spreads. The participating policy funds are largely
 self-supporting and generate no material impact on net income
 attributed to shareholders as a result of changes in corporate and
 swap spreads.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(3)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Sensitivities are based on projected asset and
 liability cash flows.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(4)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Corporate spreads are assumed to grade to the
 long-term average over five years.</p>
 </td>
 </tr>
 </table>
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(5)</sup></td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">As the sensitivity to a 50 basis point decline in
 corporate spreads includes the impact of a change in deterministic
 reinvestment scenarios where applicable, the impact of changes to
 corporate spreads for less than, or more than, the amounts
 indicated are unlikely to be linear.</p>
 </td>
 </tr>
 </table>
 </div>
 <div style="FONT-SIZE: medium; MAX-WIDTH: 100%; FONT-FAMILY: ARIAL; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); PADDING-BOTTOM: 3pt; FONT-STYLE: normal; PADDING-TOP: 2pt; MARGIN-LEFT: -8px; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); MARGIN-RIGHT: -8px; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 <table style="FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
 <tr style="break-inside: avoid">
 <td width="1%">&#xA0;</td>
 <td valign="top" width="2%" align="left"><sup style="FONT-SIZE: 7px; VERTICAL-ALIGN: top">(6)</sup>&#xA0;</td>
 <td valign="top" align="left">
 <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 7pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt" align="left">Includes all LICAT impacts, including realized and
 unrealized fair value changes in AFS fixed income assets. Under
 LICAT, spread movements are determined from a selection of
 investment grade bond indices with BBB and better bonds for each
 jurisdiction. For LICAT, we use the following indices: FTSE TMX
 Canada All Corporate Bond Index, Barclays USD Liquid Investment
 Grade Corporate Index, and Nomura-BPI (Japan). The LICAT ratio is
 not applicable before January 1, 2018.</p>
 </td>
 </tr>
 </table>
 </div>
 </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfFinancialLiabilitiesMaturityExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of financial liabilities maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfFinancialLiabilitiesMaturityExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfInvestmentCategoriesForVariableContractsWithGuaranteesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Investment Categories For Variable Contracts With Guarantees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of potential immediate impact on net income attributed to shareholders by changes to public equity returns.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfPotentialImmediateImpactOnNetIncomeAttributedToShareholdersByChangesToPublicEquityReturnsExplanatory</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of potential impact on net income attributed to shareholders and MLI's LICAT ratio of immediate parallel change in interest rates relative to rates assumed in valuation of policy liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersAndMLILICATRatioOfImmediateParallelChangeInInterestRatesRelativeToRatesAssumedInValuationOfPolicyLiabilitiesTextBlock</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of potential impact on net income attributed to shareholders arising from changes to spreads.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfPotentialImpactOnNetIncomeAttributedToShareholdersArisingFromChangesToSpreadsExplanatory</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of variable annuity and segregated fund guarantees, net of reinsurance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfVariableAnnuityAndSegregatedFundGuaranteesNetOfReinsuranceExplanatory</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Key market risks and risk management strategies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6871947664">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Nature of Operations and Significant Accounting Policies - Additional Information (Detail)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfChangesInAccountingEstimatesLineItems', window );"><strong>Disclosure of changes in accounting estimates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PropertyPlantAndEquipmentEstimatedUsefulLife', window );">Estimated useful life of property</a></td>
<td class="text">30 years<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FiniteLivedIntangibleAssetUsefulLife1', window );">Finite -Lived intangible assets, useful life</a></td>
<td class="text">6 years<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CapitalAssetUsefulLife', window );">Capital asset, useful life</a></td>
<td class="text">2 years<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member] | Software [Member]</a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfChangesInAccountingEstimatesLineItems', window );"><strong>Disclosure of changes in accounting estimates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FiniteLivedIntangibleAssetUsefulLife1', window );">Finite -Lived intangible assets, useful life</a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfChangesInAccountingEstimatesLineItems', window );"><strong>Disclosure of changes in accounting estimates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PropertyPlantAndEquipmentEstimatedUsefulLife', window );">Estimated useful life of property</a></td>
<td class="text">60 years<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FiniteLivedIntangibleAssetUsefulLife1', window );">Finite -Lived intangible assets, useful life</a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CapitalAssetUsefulLife', window );">Capital asset, useful life</a></td>
<td class="text">10 years<span></span>
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</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member] | Software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfChangesInAccountingEstimatesLineItems', window );"><strong>Disclosure of changes in accounting estimates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FiniteLivedIntangibleAssetUsefulLife1', window );">Finite -Lived intangible assets, useful life</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Capital asset useful life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Finite lived intangible asset useful life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Property plant and equipment estimated useful life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_PropertyPlantAndEquipmentEstimatedUsefulLife</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember</td>
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<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>81
<FILENAME>R56.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6880642160">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Schedule of Carrying Values and Fair Values of Invested Assets (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">$ 16,215<span></span>
</td>
<td class="nump">$ 15,965<span></span>
</td>
<td class="nump">$ 15,151<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">185,594<span></span>
</td>
<td class="nump">174,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">19,179<span></span>
</td>
<td class="nump">21,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_Mortgages', window );">Mortgages</a></td>
<td class="nump">48,363<span></span>
</td>
<td class="nump">44,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PrivatePlacements', window );">Private placements</a></td>
<td class="nump">35,754<span></span>
</td>
<td class="nump">32,132<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsForRiskOfPolicyholders', window );">Policy loans</a></td>
<td class="nump">6,446<span></span>
</td>
<td class="nump">5,808<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans to bank clients</a></td>
<td class="nump">1,793<span></span>
</td>
<td class="nump">1,737<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate</a></td>
<td class="nump">12,777<span></span>
</td>
<td class="nump">13,810<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Total invested assets</a></td>
<td class="nump">353,664<span></span>
</td>
<td class="nump">334,222<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">27,543<span></span>
</td>
<td class="nump">24,483<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">1,080<span></span>
</td>
<td class="nump">439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">107,425<span></span>
</td>
<td class="nump">96,785<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">16,721<span></span>
</td>
<td class="nump">18,473<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Total invested assets</a></td>
<td class="nump">187,409<span></span>
</td>
<td class="nump">178,096<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">10,163<span></span>
</td>
<td class="nump">11,429<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">5,245<span></span>
</td>
<td class="nump">5,366<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">2,458<span></span>
</td>
<td class="nump">3,072<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Total invested assets</a></td>
<td class="nump">43,579<span></span>
</td>
<td class="nump">41,565<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestedAssetsMember', window );">Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">4,972<span></span>
</td>
<td class="nump">4,097<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_Mortgages', window );">Mortgages</a></td>
<td class="nump">48,363<span></span>
</td>
<td class="nump">44,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PrivatePlacements', window );">Private placements</a></td>
<td class="nump">35,754<span></span>
</td>
<td class="nump">32,132<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsForRiskOfPolicyholders', window );">Policy loans</a></td>
<td class="nump">6,446<span></span>
</td>
<td class="nump">5,808<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans to bank clients</a></td>
<td class="nump">1,793<span></span>
</td>
<td class="nump">1,737<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Total invested assets</a></td>
<td class="nump">122,676<span></span>
</td>
<td class="nump">114,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">16,215<span></span>
</td>
<td class="nump">15,965<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">19,179<span></span>
</td>
<td class="nump">21,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_Mortgages', window );">Mortgages</a></td>
<td class="nump">48,628<span></span>
</td>
<td class="nump">46,065<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PrivatePlacements', window );">Private placements</a></td>
<td class="nump">36,103<span></span>
</td>
<td class="nump">34,581<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsForRiskOfPolicyholders', window );">Policy loans</a></td>
<td class="nump">6,446<span></span>
</td>
<td class="nump">5,808<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans to bank clients</a></td>
<td class="nump">1,797<span></span>
</td>
<td class="nump">1,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Total invested assets</a></td>
<td class="nump">356,217<span></span>
</td>
<td class="nump">339,488<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember', window );">Canadian government and agency [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">23,787<span></span>
</td>
<td class="nump">22,778<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember', window );">Canadian government and agency [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">16,445<span></span>
</td>
<td class="nump">17,886<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember', window );">Canadian government and agency [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">7,342<span></span>
</td>
<td class="nump">4,892<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember', window );">Canadian government and agency [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">23,787<span></span>
</td>
<td class="nump">22,778<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_UnitedStatesGovernmentAndAgenciesMember', window );">U.S. government and agency [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">25,924<span></span>
</td>
<td class="nump">25,969<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_UnitedStatesGovernmentAndAgenciesMember', window );">U.S. government and agency [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">11,934<span></span>
</td>
<td class="nump">12,497<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_UnitedStatesGovernmentAndAgenciesMember', window );">U.S. government and agency [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">13,990<span></span>
</td>
<td class="nump">13,472<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_UnitedStatesGovernmentAndAgenciesMember', window );">U.S. government and agency [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">25,924<span></span>
</td>
<td class="nump">25,969<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember', window );">Other government and agency [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">20,260<span></span>
</td>
<td class="nump">19,826<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember', window );">Other government and agency [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">16,159<span></span>
</td>
<td class="nump">16,838<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember', window );">Other government and agency [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">4,101<span></span>
</td>
<td class="nump">2,988<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember', window );">Other government and agency [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">20,260<span></span>
</td>
<td class="nump">19,826<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CorporateDebtMember', window );">Corporate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">112,670<span></span>
</td>
<td class="nump">102,151<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CorporateDebtMember', window );">Corporate [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">107,425<span></span>
</td>
<td class="nump">96,785<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CorporateDebtMember', window );">Corporate [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">5,245<span></span>
</td>
<td class="nump">5,366<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CorporateDebtMember', window );">Corporate [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">112,670<span></span>
</td>
<td class="nump">102,151<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_MortgageBackedOrAssetBackedSecuritiesMember', window );">Mortgage/asset-backed securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">2,953<span></span>
</td>
<td class="nump">3,276<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_MortgageBackedOrAssetBackedSecuritiesMember', window );">Mortgage/asset-backed securities [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">2,774<span></span>
</td>
<td class="nump">3,018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_MortgageBackedOrAssetBackedSecuritiesMember', window );">Mortgage/asset-backed securities [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">179<span></span>
</td>
<td class="nump">258<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_MortgageBackedOrAssetBackedSecuritiesMember', window );">Mortgage/asset-backed securities [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">2,953<span></span>
</td>
<td class="nump">3,276<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_RealEstateOwnUsePropertyMember', window );">Real estate own use property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate</a></td>
<td class="nump">2,016<span></span>
</td>
<td class="nump">1,281<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_RealEstateOwnUsePropertyMember', window );">Real estate own use property [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate</a></td>
<td class="nump">2,016<span></span>
</td>
<td class="nump">1,281<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_RealEstateOwnUsePropertyMember', window );">Real estate own use property [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate</a></td>
<td class="nump">3,179<span></span>
</td>
<td class="nump">2,448<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_InvestmentPropertyMember', window );">Investment property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate</a></td>
<td class="nump">10,761<span></span>
</td>
<td class="nump">12,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_InvestmentPropertyMember', window );">Investment property [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate</a></td>
<td class="nump">10,761<span></span>
</td>
<td class="nump">12,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_InvestmentPropertyMember', window );">Investment property [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate</a></td>
<td class="nump">10,761<span></span>
</td>
<td class="nump">12,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">23,438<span></span>
</td>
<td class="nump">20,730<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">14,720<span></span>
</td>
<td class="nump">12,018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">101<span></span>
</td>
<td class="nump">88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">8,617<span></span>
</td>
<td class="nump">8,624<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">24,211<span></span>
</td>
<td class="nump">21,053<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_VariousOtherInvestedAssetsMember', window );">Various other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">4,105<span></span>
</td>
<td class="nump">3,753<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_VariousOtherInvestedAssetsMember', window );">Various other [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">151<span></span>
</td>
<td class="nump">142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_VariousOtherInvestedAssetsMember', window );">Various other [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">3,954<span></span>
</td>
<td class="nump">3,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_VariousOtherInvestedAssetsMember', window );">Various other [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">$ 4,104<span></span>
</td>
<td class="nump">$ 3,752<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments representing indebtedness held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments held by the entity that provide evidence of a residual interest in the assets of another entity after deducting all of its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2019-01-01: The amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.
Effective 2019-01-01: The amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee as a right-of-use asset) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2018-01-01<br> -Paragraph 76<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2018-03-01&amp;anchor=para_76&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2018-03-01&amp;anchor=para_79_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsForRiskOfPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments against insurance liabilities where all risk is borne by the policyholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsForRiskOfPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Invested assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_Mortgages">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Mortgages.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_Mortgages</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OtherInvestedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other invested assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OtherInvestedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_PrivatePlacements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment in private placements of other companies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_PrivatePlacements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_UnitedStatesGovernmentAndAgenciesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_UnitedStatesGovernmentAndAgenciesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_CorporateDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_CorporateDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_MortgageBackedOrAssetBackedSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_MortgageBackedOrAssetBackedSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_RealEstateOwnUsePropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_RealEstateOwnUsePropertyMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_InvestmentPropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_InvestmentPropertyMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_VariousOtherInvestedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_VariousOtherInvestedAssetsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>82
<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6882031072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Schedule of Carrying Values and Fair Values of Invested Assets (Parenthetical) (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">$ 185,594<span></span>
</td>
<td class="nump">$ 174,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PrivatePlacements', window );">Private placements</a></td>
<td class="nump">35,754<span></span>
</td>
<td class="nump">32,132<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">27,543<span></span>
</td>
<td class="nump">24,483<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Change in the fair value of these invested assets</a></td>
<td class="num">(460)<span></span>
</td>
<td class="nump">832<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Invested assets</a></td>
<td class="nump">353,664<span></span>
</td>
<td class="nump">334,222<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">870<span></span>
</td>
<td class="nump">1,768<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=mfc_NotLaterThanNinetyDaysMember', window );">Less than 90 days [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">40<span></span>
</td>
<td class="nump">161<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PrivatePlacements', window );">Private placements</a></td>
<td class="nump">36,103<span></span>
</td>
<td class="nump">34,581<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Change in the fair value of these invested assets</a></td>
<td class="nump">21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Invested assets</a></td>
<td class="nump">356,217<span></span>
</td>
<td class="nump">339,488<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">23,438<span></span>
</td>
<td class="nump">20,730<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | Private equity [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total carrying value</a></td>
<td class="nump">6,769<span></span>
</td>
<td class="nump">4,959<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | Power and infrastructure [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total carrying value</a></td>
<td class="nump">7,970<span></span>
</td>
<td class="nump">7,355<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | Oil and gas [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total carrying value</a></td>
<td class="nump">3,416<span></span>
</td>
<td class="nump">2,813<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | Timber and agriculture [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total carrying value</a></td>
<td class="nump">4,493<span></span>
</td>
<td class="nump">5,033<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total carrying value</a></td>
<td class="nump">791<span></span>
</td>
<td class="nump">570<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | Hydroelectric Power [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FinancialAssetsClassifiedAsHeldForSale', window );">Total carrying value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">426<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember', window );">Alternative long-duration assets [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">24,211<span></span>
</td>
<td class="nump">21,053<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CashAndShortTermSecuritiesMember', window );">Cash and short-term securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Short-term securities with maturities of less than one year</a></td>
<td class="nump">2,530<span></span>
</td>
<td class="nump">2,737<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashEquivalents', window );">Cash equivalents</a></td>
<td class="nump">8,713<span></span>
</td>
<td class="nump">9,131<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Cash', window );">Cash</a></td>
<td class="nump">4,972<span></span>
</td>
<td class="nump">4,097<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssetsLeveragedLeases', window );">Other invested assets leveraged leases</a></td>
<td class="nump">3,575<span></span>
</td>
<td class="nump">3,273<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_SPPIQualifyingMember', window );">SPPI qualifying [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_SPPINonQualifyingMember', window );">SPPI non qualifying [member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">105<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PrivatePlacements', window );">Private placements</a></td>
<td class="nump">230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">465<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation and amortisation [Member] | Real estate own use property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Accumulated depreciation of own use property</a></td>
<td class="nump">391<span></span>
</td>
<td class="nump">389<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_JohnHancockInfrastructureMasterFundLPMember', window );">John Hancock Infrastructure Master Fund LP [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Invested assets</a></td>
<td class="nump">$ 1,422<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_JohnHancockInfrastructureMasterFundLPMember', window );">John Hancock Infrastructure Master Fund LP [member] | Top of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Partnership voting rights</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_ManulifeUSRealEstateInvestmentTrustMember', window );">Manulife Us Real Estate Investment Trust [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Invested assets</a></td>
<td class="nump">$ 510<span></span>
</td>
<td class="nump">$ 395<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Partnership voting rights</a></td>
<td class="nump">8.50%<span></span>
</td>
<td class="nump">9.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_OtherJointVenturesMember', window );">Other joint ventures [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Invested assets</a></td>
<td class="nump">$ 1,314<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_HancockUsRealEstateFundLpMember', window );">Hancock Us Real Estate Fund Lp [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestedAssets', window );">Invested assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 619<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Partnership voting rights</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.70%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Cash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits. [Refer: Cash on hand]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Cash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments representing indebtedness held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose the entity&#8217;s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35H<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35I<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35M<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35N<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35N&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2018-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2018-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2018-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2018-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2018-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2018-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term investments. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_FinancialAssetsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets classified as held for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_FinancialAssetsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Invested assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OtherInvestedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other invested assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OtherInvestedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OtherInvestedAssetsLeveragedLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other invested assets leveraged leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OtherInvestedAssetsLeveragedLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_PrivatePlacements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment in private placements of other companies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_PrivatePlacements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=mfc_NotLaterThanNinetyDaysMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=mfc_NotLaterThanNinetyDaysMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_AlternativeLongdurationAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentTypeAxis=mfc_PrivateEquityInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentTypeAxis=mfc_PrivateEquityInvestmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentTypeAxis=mfc_PowerAndInfrastructureInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentTypeAxis=mfc_PowerAndInfrastructureInvestmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentTypeAxis=mfc_OilAndGasInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentTypeAxis=mfc_OilAndGasInvestmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentTypeAxis=mfc_TimberAndAgricultureInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentTypeAxis=mfc_TimberAndAgricultureInvestmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentTypeAxis=mfc_OtherInvestedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentTypeAxis=mfc_OtherInvestedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentTypeAxis=mfc_HydroelectricPowerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentTypeAxis=mfc_HydroelectricPowerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_CashAndShortTermSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_CashAndShortTermSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_SPPIQualifyingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_SPPIQualifyingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_SPPINonQualifyingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_SPPINonQualifyingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_RealEstateOwnUsePropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_RealEstateOwnUsePropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_JohnHancockInfrastructureMasterFundLPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_JohnHancockInfrastructureMasterFundLPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_ManulifeUSRealEstateInvestmentTrustMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_ManulifeUSRealEstateInvestmentTrustMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_OtherJointVenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_OtherJointVenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_HancockUsRealEstateFundLpMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_HancockUsRealEstateFundLpMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>83
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872507152">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Schedule of Other Invested Assets Include Investments in Associates and Joint Ventures Accounted Using Equity Method (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCarryingValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure Of Carrying Value Measurement Of Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments in associates carrying value</a></td>
<td class="nump">$ 6,858<span></span>
</td>
<td class="nump">$ 5,757<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PercentageOfInvestmentsInAssociates', window );">Percentage of investments in associates carrying value</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_LeveragedLeasesMember', window );">Leveraged leases [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCarryingValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure Of Carrying Value Measurement Of Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments in associates carrying value</a></td>
<td class="nump">$ 3,575<span></span>
</td>
<td class="nump">$ 3,273<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PercentageOfInvestmentsInAssociates', window );">Percentage of investments in associates carrying value</a></td>
<td class="nump">51.00%<span></span>
</td>
<td class="nump">56.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_TimberAndAgricultureMember', window );">Timber and agriculture [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCarryingValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure Of Carrying Value Measurement Of Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments in associates carrying value</a></td>
<td class="nump">$ 599<span></span>
</td>
<td class="nump">$ 451<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PercentageOfInvestmentsInAssociates', window );">Percentage of investments in associates carrying value</a></td>
<td class="nump">9.00%<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_RealEstate1Member', window );">Real estate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCarryingValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure Of Carrying Value Measurement Of Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments in associates carrying value</a></td>
<td class="nump">$ 725<span></span>
</td>
<td class="nump">$ 498<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PercentageOfInvestmentsInAssociates', window );">Percentage of investments in associates carrying value</a></td>
<td class="nump">11.00%<span></span>
</td>
<td class="nump">9.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfCarryingValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure Of Carrying Value Measurement Of Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments in associates carrying value</a></td>
<td class="nump">$ 1,959<span></span>
</td>
<td class="nump">$ 1,535<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PercentageOfInvestmentsInAssociates', window );">Percentage of investments in associates carrying value</a></td>
<td class="nump">29.00%<span></span>
</td>
<td class="nump">27.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfCarryingValueMeasurementOfAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Carrying Value Measurement Of Assets [line items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfCarryingValueMeasurementOfAssetsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_PercentageOfInvestmentsInAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of investments in associates carrying value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_PercentageOfInvestmentsInAssociates</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_LeveragedLeasesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_LeveragedLeasesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_TimberAndAgricultureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_TimberAndAgricultureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_RealEstate1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_RealEstate1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>84
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839551856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Additional Information (Detail) - CAD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Fair value of securitized assets</a></td>
<td class="nump">$ 750,271,000,000<span></span>
</td>
<td class="nump">$ 729,533,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Fair value of securitized liabilities</a></td>
<td class="nump">703,120,000,000<span></span>
</td>
<td class="nump">687,370,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets', window );">Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_SegregatedFundsMember', window );">Segregated funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets', window );">Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets', window );">Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period</a></td>
<td class="nump">2,000,000<span></span>
</td>
<td class="nump">5,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherInvestedAssetsMember', window );">Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Profit (loss) from associates and joint ventures</a></td>
<td class="nump">369,000,000<span></span>
</td>
<td class="nump">291,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities', window );">Dividends received from associates and joint ventures</a></td>
<td class="nump">13,000,000<span></span>
</td>
<td class="nump">14,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_SecuritizedAssetsMember', window );">Securitized assets [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Fair value of securitized assets</a></td>
<td class="nump">3,843,000,000<span></span>
</td>
<td class="nump">3,533,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Fair value of securitized liabilities</a></td>
<td class="nump">$ 3,756,000,000<span></span>
</td>
<td class="nump">$ 3,503,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow representing dividends received from joint ventures, classified as investing activities. [Refer: Joint ventures [member]; Dividends received]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_g&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 39M<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_39M_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers out of Level 1 and into Level 2 of the fair value hierarchy of assets held at the end of the reporting period. [Refer: Level 1 of fair value hierarchy [member]; Level 2 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers out of Level 2 and into Level 1 of the fair value hierarchy of assets held at the end of the reporting period. [Refer: Level 1 of fair value hierarchy [member]; Level 2 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_SegregatedFundsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_SegregatedFundsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherInvestedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_OtherInvestedAssetsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_SecuritizedAssetsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember</td>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6883845056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Schedule of Investment Income (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RentalIncomeFromInvestmentProperty', window );">Rental income, net of depreciation</a></td>
<td class="nump">$ 1,013<span></span>
</td>
<td class="nump">$ 1,120<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInvestmentIncomeLoss', window );">Net Investment income</a></td>
<td class="nump">4,532<span></span>
</td>
<td class="nump">19,367<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">13,560<span></span>
</td>
<td class="nump">13,649<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DebtSecuritiesMember', window );">Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">6,078<span></span>
</td>
<td class="nump">5,679<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(6,303)<span></span>
</td>
<td class="nump">3,485<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="num">(18)<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_CashAndShortTermSecuritiesMember', window );">Cash and short-term securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">268<span></span>
</td>
<td class="nump">160<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(12)<span></span>
</td>
<td class="num">(25)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PublicEquitiesMember', window );">Public equities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromDividends', window );">Dividend income</a></td>
<td class="nump">556<span></span>
</td>
<td class="nump">603<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(1,266)<span></span>
</td>
<td class="nump">2,598<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="nump">43<span></span>
</td>
<td class="num">(14)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_MortgagesMember', window );">Mortgages [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">1,824<span></span>
</td>
<td class="nump">1,685<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="nump">56<span></span>
</td>
<td class="nump">69<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProvisionNet', window );">Provision, net</a></td>
<td class="nump">8<span></span>
</td>
<td class="num">(32)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PrivatePlacementsMember', window );">Private placements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">1,729<span></span>
</td>
<td class="nump">1,553<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(83)<span></span>
</td>
<td class="nump">43<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PolicyLoansMember', window );">Policy loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInvestmentIncomeLoss', window );">Net Investment income</a></td>
<td class="nump">371<span></span>
</td>
<td class="nump">365<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_LoansToBankClientsMember', window );">Loans to Bank clients [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">81<span></span>
</td>
<td class="nump">68<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProvisionNet', window );">Provision, net</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_RealEstate1Member', window );">Real estate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RentalIncomeFromInvestmentProperty', window );">Rental income, net of depreciation</a></td>
<td class="nump">515<span></span>
</td>
<td class="nump">517<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="nump">445<span></span>
</td>
<td class="nump">341<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember', window );">Derivatives [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">656<span></span>
</td>
<td class="nump">893<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(2,224)<span></span>
</td>
<td class="num">(945)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestedAssetsMember', window );">Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">74<span></span>
</td>
<td class="nump">174<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Oil and gas, timber, agriculture and other income</a></td>
<td class="nump">1,758<span></span>
</td>
<td class="nump">1,690<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="nump">173<span></span>
</td>
<td class="nump">484<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="nump">120<span></span>
</td>
<td class="nump">45<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_InterestIncomeMember', window );">Interest income [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">11,081<span></span>
</td>
<td class="nump">10,577<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_DividendRentalAndOtherIncomeMember', window );">Dividend, rental and other income [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">2,829<span></span>
</td>
<td class="nump">2,810<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_ImpairmentsProvisionsAndRecoveriesNetMember', window );">Impairments, provisions and recoveries, net [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="num">(164)<span></span>
</td>
<td class="num">(70)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="num">(186)<span></span>
</td>
<td class="nump">332<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember', window );">Insurance and investment contract liabilities and macro equity hedges [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(9,028)<span></span>
</td>
<td class="nump">5,718<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember', window );">Insurance and investment contract liabilities and macro equity hedges [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(5,994)<span></span>
</td>
<td class="nump">3,686<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember', window );">Insurance and investment contract liabilities and macro equity hedges [Member] | Public equities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(1,444)<span></span>
</td>
<td class="nump">2,235<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember', window );">Insurance and investment contract liabilities and macro equity hedges [Member] | Mortgages [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">55<span></span>
</td>
<td class="nump">69<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember', window );">Insurance and investment contract liabilities and macro equity hedges [Member] | Private placements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(83)<span></span>
</td>
<td class="nump">40<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember', window );">Insurance and investment contract liabilities and macro equity hedges [Member] | Real estate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">449<span></span>
</td>
<td class="nump">350<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember', window );">Insurance and investment contract liabilities and macro equity hedges [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">213<span></span>
</td>
<td class="nump">441<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember', window );">Insurance and investment contract liabilities and macro equity hedges [Member] | Derivatives, including macro equity hedging program [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(2,224)<span></span>
</td>
<td class="num">(1,103)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInvestmentIncomeLoss', window );">Net Investment income</a></td>
<td class="num">(2,992)<span></span>
</td>
<td class="nump">11,954<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">6,368<span></span>
</td>
<td class="nump">6,918<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">5,432<span></span>
</td>
<td class="nump">5,102<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(5,993)<span></span>
</td>
<td class="nump">3,690<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="num">(18)<span></span>
</td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Cash and short-term securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">18<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(74)<span></span>
</td>
<td class="nump">22<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Public equities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromDividends', window );">Dividend income</a></td>
<td class="nump">484<span></span>
</td>
<td class="nump">524<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(1,596)<span></span>
</td>
<td class="nump">2,372<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Derivatives [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">689<span></span>
</td>
<td class="nump">809<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(2,251)<span></span>
</td>
<td class="num">(1,029)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="nump">283<span></span>
</td>
<td class="nump">441<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Interest income [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">6,139<span></span>
</td>
<td class="nump">5,918<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Dividend, rental and other income [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">484<span></span>
</td>
<td class="nump">524<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Impairments, provisions and recoveries, net [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">16<span></span>
</td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="num">(271)<span></span>
</td>
<td class="nump">460<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Insurance and investment contract liabilities and macro equity hedges [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(9,360)<span></span>
</td>
<td class="nump">5,036<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(6,012)<span></span>
</td>
<td class="nump">3,694<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Public equities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(1,454)<span></span>
</td>
<td class="nump">2,200<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">357<span></span>
</td>
<td class="nump">329<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Derivatives, including macro equity hedging program [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(2,251)<span></span>
</td>
<td class="num">(1,187)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInvestmentIncomeLoss', window );">Net Investment income</a></td>
<td class="nump">1,003<span></span>
</td>
<td class="nump">761<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">979<span></span>
</td>
<td class="nump">743<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">646<span></span>
</td>
<td class="nump">577<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(310)<span></span>
</td>
<td class="num">(205)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Cash and short-term securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">250<span></span>
</td>
<td class="nump">153<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="nump">62<span></span>
</td>
<td class="num">(47)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Public equities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromDividends', window );">Dividend income</a></td>
<td class="nump">72<span></span>
</td>
<td class="nump">79<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="nump">330<span></span>
</td>
<td class="nump">226<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="nump">43<span></span>
</td>
<td class="num">(14)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Interest income [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">896<span></span>
</td>
<td class="nump">730<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Dividend, rental and other income [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">72<span></span>
</td>
<td class="nump">79<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Impairments, provisions and recoveries, net [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="num">(47)<span></span>
</td>
<td class="num">(15)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">58<span></span>
</td>
<td class="num">(51)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Insurance and investment contract liabilities and macro equity hedges [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">24<span></span>
</td>
<td class="nump">18<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">18<span></span>
</td>
<td class="num">(8)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Public equities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">35<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(4)<span></span>
</td>
<td class="num">(9)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInvestmentIncomeLoss', window );">Net Investment income</a></td>
<td class="nump">6,521<span></span>
</td>
<td class="nump">6,652<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">6,213<span></span>
</td>
<td class="nump">5,988<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Mortgages [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">1,824<span></span>
</td>
<td class="nump">1,685<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="nump">56<span></span>
</td>
<td class="nump">69<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProvisionNet', window );">Provision, net</a></td>
<td class="nump">8<span></span>
</td>
<td class="num">(32)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Private placements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">1,729<span></span>
</td>
<td class="nump">1,553<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(83)<span></span>
</td>
<td class="nump">43<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Policy loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInvestmentIncomeLoss', window );">Net Investment income</a></td>
<td class="nump">371<span></span>
</td>
<td class="nump">365<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Loans to Bank clients [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">81<span></span>
</td>
<td class="nump">68<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProvisionNet', window );">Provision, net</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Real estate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RentalIncomeFromInvestmentProperty', window );">Rental income, net of depreciation</a></td>
<td class="nump">515<span></span>
</td>
<td class="nump">517<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="nump">445<span></span>
</td>
<td class="nump">341<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Derivatives [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="num">(33)<span></span>
</td>
<td class="nump">84<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="nump">27<span></span>
</td>
<td class="nump">84<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentInterestIncome', window );">Interest income</a></td>
<td class="nump">74<span></span>
</td>
<td class="nump">174<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Oil and gas, timber, agriculture and other income</a></td>
<td class="nump">1,758<span></span>
</td>
<td class="nump">1,690<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainLossOnInvestmentInterestIncome', window );">Gains (losses)</a></td>
<td class="num">(110)<span></span>
</td>
<td class="nump">50<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossOnFinancialAssets', window );">Impairment loss</a></td>
<td class="nump">114<span></span>
</td>
<td class="nump">45<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Interest income [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">4,046<span></span>
</td>
<td class="nump">3,929<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Dividend, rental and other income [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">2,273<span></span>
</td>
<td class="nump">2,207<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Impairments, provisions and recoveries, net [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="num">(133)<span></span>
</td>
<td class="num">(71)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Investment income</a></td>
<td class="nump">27<span></span>
</td>
<td class="num">(77)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">308<span></span>
</td>
<td class="nump">664<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Mortgages [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">55<span></span>
</td>
<td class="nump">69<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Private placements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(83)<span></span>
</td>
<td class="nump">40<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Real estate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">449<span></span>
</td>
<td class="nump">350<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="num">(140)<span></span>
</td>
<td class="nump">121<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember', window );">Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Derivatives, including macro equity hedging program [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInvestmentIncomeLineItems', window );"><strong>Disclosure of Investment Income [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome', window );">Realized and unrealized gains (losses) on assets</a></td>
<td class="nump">$ 27<span></span>
</td>
<td class="nump">$ 84<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossOnFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss on financial assets. [Refer: Financial assets; Impairment loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossOnFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources, after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2018-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2018-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investment income, such as interest and dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2018-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2018-03-01&amp;anchor=para_35_b_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RentalIncomeFromInvestmentProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of rental income arising from investment property recognised in profit or loss. [Refer: Investment property]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2018-01-01<br> -Paragraph 75<br> -Subparagraph f<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2018-03-01&amp;anchor=para_75_f_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RentalIncomeFromInvestmentProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as income. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfInvestmentIncomeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of investment income line items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfInvestmentIncomeLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_GainLossOnInvestmentInterestIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain loss on investment interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_GainLossOnInvestmentInterestIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentInterestIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentInterestIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_NetInvestmentIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net investment income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_NetInvestmentIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ProvisionNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Provision net.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ProvisionNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrealized and realized gains (losses) on investment income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_UnrealizedAndRealizedGainsLossesOnInvestmentIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DebtSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_DebtSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_CashAndShortTermSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_CashAndShortTermSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PublicEquitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PublicEquitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_MortgagesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_MortgagesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PrivatePlacementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PrivatePlacementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PolicyLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PolicyLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_LoansToBankClientsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_LoansToBankClientsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_RealEstate1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_RealEstate1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_InterestIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_InterestIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_DividendRentalAndOtherIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_DividendRentalAndOtherIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_ImpairmentsProvisionsAndRecoveriesNetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_ImpairmentsProvisionsAndRecoveriesNetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestmentIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestmentIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InsuranceAndInvestmentContractLiabilitiesAndMacroEquityHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_DerivativesIncludingMacroEquityHedgingProgramMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_DerivativesIncludingMacroEquityHedgingProgramMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherInvestmentIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839272864">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Summary of Total Investment Expenses (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentExpensesLineItems', window );"><strong>Investment Expenses [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentExpenses', window );">Total investment expenses</a></td>
<td class="nump">$ 1,708<span></span>
</td>
<td class="nump">$ 1,673<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_InvestedAssetsMember', window );">Related to invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentExpensesLineItems', window );"><strong>Investment Expenses [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentExpenses', window );">Total investment expenses</a></td>
<td class="nump">638<span></span>
</td>
<td class="nump">625<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_SegregatedMutualAndOtherFundsMember', window );">Related to segregated, mutual and other funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentExpensesLineItems', window );"><strong>Investment Expenses [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentExpenses', window );">Total investment expenses</a></td>
<td class="nump">$ 1,070<span></span>
</td>
<td class="nump">$ 1,048<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentExpensesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentExpensesLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_InvestedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_InvestedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_SegregatedMutualAndOtherFundsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>87
<FILENAME>R62.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839779008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Summary of Rental Income of Investment Properties (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInvestmentPropertyAbstract', window );"><strong>Disclosure of detailed information about investment property [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RentalIncomeFromInvestmentProperty', window );">Rental income from investment properties</a></td>
<td class="nump">$ 1,013<span></span>
</td>
<td class="nump">$ 1,120<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DirectOperatingExpenseFromInvestmentPropertyGeneratingRentalIncome', window );">Direct operating expenses of rental investment properties</a></td>
<td class="num">(582)<span></span>
</td>
<td class="num">(694)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense', window );">Total</a></td>
<td class="nump">$ 431<span></span>
</td>
<td class="nump">$ 426<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DirectOperatingExpenseFromInvestmentPropertyGeneratingRentalIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of direct operating expenses (including repairs and maintenance) arising from investment property that generated rental income during the period recognised in profit or loss. [Refer: Investment property]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2018-01-01<br> -Paragraph 75<br> -Subparagraph f<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2018-03-01&amp;anchor=para_75_f_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DirectOperatingExpenseFromInvestmentPropertyGeneratingRentalIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInvestmentPropertyAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInvestmentPropertyAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RentalIncomeFromInvestmentProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of rental income arising from investment property recognised in profit or loss. [Refer: Investment property]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2018-01-01<br> -Paragraph 75<br> -Subparagraph f<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2018-03-01&amp;anchor=para_75_f_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RentalIncomeFromInvestmentProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of rental income arising from investment property, net of direct operating expense from such property. [Refer: Direct operating expense from investment property; Rental income from investment property]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>88
<FILENAME>R63.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6838478448">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Summary of Securitized Assets and Secured Borrowing Liabilities (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems', window );"><strong>Disclosure of securitized assets, mortgages and associated liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuritizedAssets', window );">Securitised Assets</a></td>
<td class="nump">$ 3,818<span></span>
</td>
<td class="nump">$ 3,512<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuredBorrowingLiabilities', window );">SecuredBorrowingLiabilities</a></td>
<td class="nump">3,774<span></span>
</td>
<td class="nump">3,523<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuritizationByProgramNameAxis=mfc_HELOCSecuritizationMember', window );">HELOC securitization [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems', window );"><strong>Disclosure of securitized assets, mortgages and associated liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuritizedAssets', window );">Securitised Assets</a></td>
<td class="nump">2,293<span></span>
</td>
<td class="nump">2,032<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuritizationByProgramNameAxis=mfc_CMBSecuritizationMember', window );">CMB securitization [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems', window );"><strong>Disclosure of securitized assets, mortgages and associated liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuritizedAssets', window );">Securitised Assets</a></td>
<td class="nump">1,525<span></span>
</td>
<td class="nump">1,480<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=mfc_SecuritizedMortgagesMember', window );">Securitized mortgages [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems', window );"><strong>Disclosure of securitized assets, mortgages and associated liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuritizedAssets', window );">Securitised Assets</a></td>
<td class="nump">3,810<span></span>
</td>
<td class="nump">3,504<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=mfc_SecuritizedMortgagesMember', window );">Securitized mortgages [Member] | HELOC securitization [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems', window );"><strong>Disclosure of securitized assets, mortgages and associated liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuritizedAssets', window );">Securitised Assets</a></td>
<td class="nump">2,285<span></span>
</td>
<td class="nump">2,024<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=mfc_SecuritizedMortgagesMember', window );">Securitized mortgages [Member] | CMB securitization [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems', window );"><strong>Disclosure of securitized assets, mortgages and associated liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuritizedAssets', window );">Securitised Assets</a></td>
<td class="nump">1,525<span></span>
</td>
<td class="nump">1,480<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=mfc_RestrictedCashAndShorttermSecuritiesMember', window );">Restricted cash and short-term securities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems', window );"><strong>Disclosure of securitized assets, mortgages and associated liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuritizedAssets', window );">Securitised Assets</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=mfc_RestrictedCashAndShorttermSecuritiesMember', window );">Restricted cash and short-term securities [member] | HELOC securitization [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems', window );"><strong>Disclosure of securitized assets, mortgages and associated liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuritizedAssets', window );">Securitised Assets</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SeparateManagementEntitiesAxis=mfc_HELOCSecuritizationMember', window );">HELOC securitization [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems', window );"><strong>Disclosure of securitized assets, mortgages and associated liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuredBorrowingLiabilities', window );">SecuredBorrowingLiabilities</a></td>
<td class="nump">2,250<span></span>
</td>
<td class="nump">2,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SeparateManagementEntitiesAxis=mfc_CMBSecuritizationMember', window );">CMB securitization [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems', window );"><strong>Disclosure of securitized assets, mortgages and associated liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SecuredBorrowingLiabilities', window );">SecuredBorrowingLiabilities</a></td>
<td class="nump">$ 1,524<span></span>
</td>
<td class="nump">$ 1,523<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of securitized assets, mortgages and associated liabilities [line items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfSecuritizedAssetsMortgagesAndAssociatedLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_SecuredBorrowingLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of secured borrowing liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_SecuredBorrowingLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_SecuritizedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securitized assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_SecuritizedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_SecuritizationByProgramNameAxis=mfc_HELOCSecuritizationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_SecuritizationByProgramNameAxis=mfc_HELOCSecuritizationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_SecuritizationByProgramNameAxis=mfc_CMBSecuritizationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_SecuritizationByProgramNameAxis=mfc_CMBSecuritizationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAndLiabilitiesAxis=mfc_SecuritizedMortgagesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAndLiabilitiesAxis=mfc_SecuritizedMortgagesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAndLiabilitiesAxis=mfc_RestrictedCashAndShorttermSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAndLiabilitiesAxis=mfc_RestrictedCashAndShorttermSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SeparateManagementEntitiesAxis=mfc_HELOCSecuritizationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SeparateManagementEntitiesAxis=mfc_HELOCSecuritizationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SeparateManagementEntitiesAxis=mfc_CMBSecuritizationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SeparateManagementEntitiesAxis=mfc_CMBSecuritizationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>89
<FILENAME>R64.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6881443952">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Summary of Invested Assets and Segregated Funds Net Assets, Measured at Fair Value (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">$ 185,594<span></span>
</td>
<td class="nump">$ 174,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">19,179<span></span>
</td>
<td class="nump">21,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate - investment property</a></td>
<td class="nump">12,777<span></span>
</td>
<td class="nump">13,810<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">27,543<span></span>
</td>
<td class="nump">24,483<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SegregatedFundsNetAssetsHeldByPolicyholders', window );">Segregated funds net assets</a></td>
<td class="nump">313,209<span></span>
</td>
<td class="nump">324,307<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">750,271<span></span>
</td>
<td class="nump">729,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">1,080<span></span>
</td>
<td class="nump">439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">107,425<span></span>
</td>
<td class="nump">96,785<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">16,721<span></span>
</td>
<td class="nump">18,473<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">10,163<span></span>
</td>
<td class="nump">11,429<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">5,245<span></span>
</td>
<td class="nump">5,366<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">2,458<span></span>
</td>
<td class="nump">3,072<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherCashAndShorttermSecuritiesMember', window );">Other cash and short-term securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">4,972<span></span>
</td>
<td class="nump">4,097<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_RealEstate1Member', window );">Real estate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate - investment property</a></td>
<td class="nump">10,761<span></span>
</td>
<td class="nump">12,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestedAssetsMember', window );">Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">17,562<span></span>
</td>
<td class="nump">16,203<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember', window );">Canadian government and agency [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">23,787<span></span>
</td>
<td class="nump">22,778<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember', window );">Canadian government and agency [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">16,445<span></span>
</td>
<td class="nump">17,886<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember', window );">Canadian government and agency [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">7,342<span></span>
</td>
<td class="nump">4,892<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_USGovernmentAndAgencyMember', window );">U.S. government and agency [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">11,934<span></span>
</td>
<td class="nump">12,497<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_USGovernmentAndAgencyMember', window );">U.S. government and agency [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">13,990<span></span>
</td>
<td class="nump">13,472<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember', window );">Other government and agency [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">20,260<span></span>
</td>
<td class="nump">19,826<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember', window );">Other government and agency [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">16,159<span></span>
</td>
<td class="nump">16,838<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember', window );">Other government and agency [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">4,101<span></span>
</td>
<td class="nump">2,988<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_ResidentialMortgageAssetbackedSecuritiesMember', window );">Residential mortgage asset-backed securities [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">13<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_ResidentialMortgageAssetbackedSecuritiesMember', window );">Residential mortgage asset-backed securities [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">37<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CommercialMortgageAssetbackedSecuritiesMember', window );">Commercial mortgage asset-backed securities [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">1,344<span></span>
</td>
<td class="nump">1,099<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_CommercialMortgageAssetbackedSecuritiesMember', window );">Commercial mortgage asset-backed securities [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">128<span></span>
</td>
<td class="nump">138<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherSecuritizedAssetsMember', window );">Other securitized assets [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">1,417<span></span>
</td>
<td class="nump">1,911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherSecuritizedAssetsMember', window );">Other securitized assets [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">49<span></span>
</td>
<td class="nump">83<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueMember', window );">Financial assets at fair value, class [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">562,520<span></span>
</td>
<td class="nump">564,549<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SegregatedFundsNetAssetsHeldByPolicyholders', window );">Segregated funds net assets</a></td>
<td class="nump">276,178<span></span>
</td>
<td class="nump">286,490<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">16,718<span></span>
</td>
<td class="nump">18,470<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">2,456<span></span>
</td>
<td class="nump">3,069<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 [Member] | Other cash and short-term securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">4,972<span></span>
</td>
<td class="nump">4,097<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 [Member] | Financial assets at fair value, class [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">300,324<span></span>
</td>
<td class="nump">312,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SegregatedFundsNetAssetsHeldByPolicyholders', window );">Segregated funds net assets</a></td>
<td class="nump">32,584<span></span>
</td>
<td class="nump">33,562<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">1,080<span></span>
</td>
<td class="nump">439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">106,641<span></span>
</td>
<td class="nump">96,073<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Cash and short-term securities</a></td>
<td class="nump">10,163<span></span>
</td>
<td class="nump">11,429<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">5,125<span></span>
</td>
<td class="nump">5,278<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Canadian government and agency [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">16,445<span></span>
</td>
<td class="nump">17,886<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Canadian government and agency [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">7,342<span></span>
</td>
<td class="nump">4,892<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | U.S. government and agency [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">11,934<span></span>
</td>
<td class="nump">12,497<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | U.S. government and agency [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">13,990<span></span>
</td>
<td class="nump">13,472<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Other government and agency [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">15,979<span></span>
</td>
<td class="nump">16,599<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Other government and agency [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">4,064<span></span>
</td>
<td class="nump">2,941<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Residential mortgage asset-backed securities [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Residential mortgage asset-backed securities [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Commercial mortgage asset-backed securities [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">1,344<span></span>
</td>
<td class="nump">1,099<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Commercial mortgage asset-backed securities [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">128<span></span>
</td>
<td class="nump">138<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Other securitized assets [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">1,417<span></span>
</td>
<td class="nump">1,886<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Other securitized assets [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">49<span></span>
</td>
<td class="nump">82<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Financial assets at fair value, class [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">228,293<span></span>
</td>
<td class="nump">218,320<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SegregatedFundsNetAssetsHeldByPolicyholders', window );">Segregated funds net assets</a></td>
<td class="nump">4,447<span></span>
</td>
<td class="nump">4,255<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">33,903<span></span>
</td>
<td class="nump">34,101<span></span>
</td>
<td class="nump">$ 33,282<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">784<span></span>
</td>
<td class="nump">710<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Public equities</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">120<span></span>
</td>
<td class="nump">88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Real estate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Real estate - investment property</a></td>
<td class="nump">10,761<span></span>
</td>
<td class="nump">12,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssets', window );">Other invested assets</a></td>
<td class="nump">17,562<span></span>
</td>
<td class="nump">16,203<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">17,562<span></span>
</td>
<td class="nump">16,203<span></span>
</td>
<td class="nump">$ 14,849<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Other government and agency [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">180<span></span>
</td>
<td class="nump">239<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Other government and agency [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">37<span></span>
</td>
<td class="nump">47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Residential mortgage asset-backed securities [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Residential mortgage asset-backed securities [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Other securitized assets [Member] | FVTPL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Other securitized assets [Member] | AFS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Financial assets at fair value, class [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">$ 33,903<span></span>
</td>
<td class="nump">$ 34,101<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments representing indebtedness held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments held by the entity that provide evidence of a residual interest in the assets of another entity after deducting all of its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2019-01-01: The amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.
Effective 2019-01-01: The amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee as a right-of-use asset) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2018-01-01<br> -Paragraph 76<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2018-03-01&amp;anchor=para_76&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2018-03-01&amp;anchor=para_79_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term investments. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OtherInvestedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other invested assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OtherInvestedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_SegregatedFundsNetAssetsHeldByPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Segregated funds net assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_SegregatedFundsNetAssetsHeldByPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherCashAndShorttermSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_OtherCashAndShorttermSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_RealEstate1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_RealEstate1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_CanadianGovernmentAndAgencyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_USGovernmentAndAgencyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_USGovernmentAndAgencyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_OtherGovernmentAndAgencyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_ResidentialMortgageAssetbackedSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_ResidentialMortgageAssetbackedSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_CommercialMortgageAssetbackedSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_CommercialMortgageAssetbackedSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_OtherSecuritizedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_OtherSecuritizedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>90
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6841562256">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Summary of Invested Assets and Segregated Funds Net Assets, Measured at Fair Value (Parenthetical) (Detail)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentPropertyCapitalizationRates', window );">Investment properties capitalization rates</a></td>
<td class="nump">2.75%<span></span>
</td>
<td class="nump">3.50%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentPropertyTerminalCapitalizationRates', window );">Investment properties terminal capitalization rates</a></td>
<td class="nump">3.65%<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentPropertyCapitalizationRates', window );">Investment properties capitalization rates</a></td>
<td class="nump">8.75%<span></span>
</td>
<td class="nump">9.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_InvestmentPropertyTerminalCapitalizationRates', window );">Investment properties terminal capitalization rates</a></td>
<td class="nump">9.25%<span></span>
</td>
<td class="nump">9.25%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BiologicalAssetsByTypeAxis=mfc_PowerAndInfrastructureInvestmentsMember', window );">Power and infrastructure [Member] | Bottom of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssetsFairValueDiscountRate', window );">Other invested assets fair value discount rate</a></td>
<td class="nump">8.95%<span></span>
</td>
<td class="nump">9.20%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BiologicalAssetsByTypeAxis=mfc_PowerAndInfrastructureInvestmentsMember', window );">Power and infrastructure [Member] | Top of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssetsFairValueDiscountRate', window );">Other invested assets fair value discount rate</a></td>
<td class="nump">16.50%<span></span>
</td>
<td class="nump">16.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BiologicalAssetsByTypeAxis=mfc_TimberlandInvestmentMember', window );">Timberland Investment [Member] | Bottom of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssetsFairValueDiscountRate', window );">Other invested assets fair value discount rate</a></td>
<td class="nump">5.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BiologicalAssetsByTypeAxis=mfc_TimberlandInvestmentMember', window );">Timberland Investment [Member] | Top of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherInvestedAssetsFairValueDiscountRate', window );">Other invested assets fair value discount rate</a></td>
<td class="nump">7.00%<span></span>
</td>
<td class="nump">7.50%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentPropertyCapitalizationRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment property capitalization rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentPropertyCapitalizationRates</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_InvestmentPropertyTerminalCapitalizationRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment property terminal capitalization rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_InvestmentPropertyTerminalCapitalizationRates</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other invested assets fair value discount rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OtherInvestedAssetsFairValueDiscountRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BiologicalAssetsByTypeAxis=mfc_PowerAndInfrastructureInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BiologicalAssetsByTypeAxis=mfc_PowerAndInfrastructureInvestmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BiologicalAssetsByTypeAxis=mfc_TimberlandInvestmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BiologicalAssetsByTypeAxis=mfc_TimberlandInvestmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>91
<FILENAME>R66.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6841217472">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Summary of Fair Values and the Fair Value Hierarchy (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=mfc_CarryingValueMember', window );">Carrying value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Carrying value</a></td>
<td class="nump">$ 104,353<span></span>
</td>
<td class="nump">$ 93,980<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=mfc_CarryingValueMember', window );">Carrying value [Member] | Mortgages [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Carrying value</a></td>
<td class="nump">48,363<span></span>
</td>
<td class="nump">44,742<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=mfc_CarryingValueMember', window );">Carrying value [Member] | Private placements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Carrying value</a></td>
<td class="nump">35,754<span></span>
</td>
<td class="nump">32,132<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=mfc_CarryingValueMember', window );">Carrying value [Member] | Policy loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Carrying value</a></td>
<td class="nump">6,446<span></span>
</td>
<td class="nump">5,808<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=mfc_CarryingValueMember', window );">Carrying value [Member] | Loans to Bank clients [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Carrying value</a></td>
<td class="nump">1,793<span></span>
</td>
<td class="nump">1,737<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=mfc_CarryingValueMember', window );">Carrying value [Member] | Real estate own use property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Carrying value</a></td>
<td class="nump">2,016<span></span>
</td>
<td class="nump">1,281<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=mfc_CarryingValueMember', window );">Carrying value [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Carrying value</a></td>
<td class="nump">9,981<span></span>
</td>
<td class="nump">8,280<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">106,906<span></span>
</td>
<td class="nump">99,246<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Mortgages [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">48,628<span></span>
</td>
<td class="nump">46,065<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Private placements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">36,103<span></span>
</td>
<td class="nump">34,581<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Policy loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">6,446<span></span>
</td>
<td class="nump">5,808<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Loans to Bank clients [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">1,797<span></span>
</td>
<td class="nump">1,742<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Real estate own use property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">3,179<span></span>
</td>
<td class="nump">2,448<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">10,753<span></span>
</td>
<td class="nump">8,602<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">121<span></span>
</td>
<td class="nump">88<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">121<span></span>
</td>
<td class="nump">88<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">38,568<span></span>
</td>
<td class="nump">36,064<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Private placements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">30,325<span></span>
</td>
<td class="nump">28,514<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Policy loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">6,446<span></span>
</td>
<td class="nump">5,808<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Loans to Bank clients [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">1,797<span></span>
</td>
<td class="nump">1,742<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">68,217<span></span>
</td>
<td class="nump">63,094<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Mortgages [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">48,628<span></span>
</td>
<td class="nump">46,065<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Private placements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">5,778<span></span>
</td>
<td class="nump">6,067<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Real estate own use property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">3,179<span></span>
</td>
<td class="nump">2,448<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Total fair value</a></td>
<td class="nump">$ 10,632<span></span>
</td>
<td class="nump">$ 8,514<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose the entity&#8217;s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35H<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35I<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35M<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 35N<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_35N&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial assets. [Refer: At fair value [member]; Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=mfc_CarryingValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=mfc_CarryingValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_MortgagesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_MortgagesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PrivatePlacementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PrivatePlacementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PolicyLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_PolicyLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_LoansToBankClientsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_LoansToBankClientsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_RealEstateOwnUsePropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_RealEstateOwnUsePropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_AtFairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_AtFairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>92
<FILENAME>R67.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6874683568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Invested Assets and Investment Income - Summary of Invested Assets and Segregated Funds Net Assets Measured at Fair Value Using Significant Unobservable Inputs (Level 3) (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">$ 729,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">750,271<span></span>
</td>
<td class="nump">$ 729,533<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DebtSecuritiesMember', window );">Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">174,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">185,594<span></span>
</td>
<td class="nump">174,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=mfc_PublicEquitiesMember', window );">Public equities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">21,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">19,179<span></span>
</td>
<td class="nump">21,545<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">34,101<span></span>
</td>
<td class="nump">33,282<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="num">(644)<span></span>
</td>
<td class="nump">770<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net AOCI</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">4,999<span></span>
</td>
<td class="nump">4,707<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(4,754)<span></span>
</td>
<td class="num">(2,077)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="num">(880)<span></span>
</td>
<td class="num">(942)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets', window );">Transfer into Level 3</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">25<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(915)<span></span>
</td>
<td class="num">(205)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">1,991<span></span>
</td>
<td class="num">(1,460)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">33,903<span></span>
</td>
<td class="nump">34,101<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement', window );">Change in unrealized gains (losses) on assets still held</a></td>
<td class="num">(36)<span></span>
</td>
<td class="nump">558<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Other invested assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">16,203<span></span>
</td>
<td class="nump">14,849<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="num">(1,168)<span></span>
</td>
<td class="nump">395<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net AOCI</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">3,926<span></span>
</td>
<td class="nump">3,022<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(1,636)<span></span>
</td>
<td class="num">(435)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="num">(841)<span></span>
</td>
<td class="num">(837)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(35)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">1,112<span></span>
</td>
<td class="num">(791)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">17,562<span></span>
</td>
<td class="nump">16,203<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement', window );">Change in unrealized gains (losses) on assets still held</a></td>
<td class="num">(434)<span></span>
</td>
<td class="nump">244<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Public equities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Real estate and other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">28,732<span></span>
</td>
<td class="nump">27,605<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="num">(877)<span></span>
</td>
<td class="nump">696<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net AOCI</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">4,541<span></span>
</td>
<td class="nump">4,279<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(4,214)<span></span>
</td>
<td class="num">(1,702)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="num">(841)<span></span>
</td>
<td class="num">(837)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(741)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">1,722<span></span>
</td>
<td class="num">(1,309)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">28,323<span></span>
</td>
<td class="nump">28,732<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement', window );">Change in unrealized gains (losses) on assets still held</a></td>
<td class="num">(190)<span></span>
</td>
<td class="nump">508<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Segregated funds net assets [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">4,255<span></span>
</td>
<td class="nump">4,574<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="nump">226<span></span>
</td>
<td class="nump">60<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">155<span></span>
</td>
<td class="nump">261<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(367)<span></span>
</td>
<td class="num">(248)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="nump">1<span></span>
</td>
<td class="num">(54)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets', window );">Transfer into Level 3</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(17)<span></span>
</td>
<td class="num">(184)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">191<span></span>
</td>
<td class="num">(154)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">4,447<span></span>
</td>
<td class="nump">4,255<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement', window );">Change in unrealized gains (losses) on assets still held</a></td>
<td class="nump">161<span></span>
</td>
<td class="nump">45<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | FVTPL [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">975<span></span>
</td>
<td class="nump">966<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">248<span></span>
</td>
<td class="nump">131<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(146)<span></span>
</td>
<td class="num">(97)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="num">(32)<span></span>
</td>
<td class="num">(43)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets', window );">Transfer into Level 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(149)<span></span>
</td>
<td class="num">(21)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">68<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">971<span></span>
</td>
<td class="nump">975<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement', window );">Change in unrealized gains (losses) on assets still held</a></td>
<td class="num">(7)<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | FVTPL [Member] | Public equities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | FVTPL [Member] | Other government and agency [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">239<span></span>
</td>
<td class="nump">272<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">27<span></span>
</td>
<td class="nump">26<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(85)<span></span>
</td>
<td class="num">(58)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="num">(14)<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">15<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">180<span></span>
</td>
<td class="nump">239<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement', window );">Change in unrealized gains (losses) on assets still held</a></td>
<td class="num">(3)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | FVTPL [Member] | Corporate [member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">710<span></span>
</td>
<td class="nump">651<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">190<span></span>
</td>
<td class="nump">105<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(61)<span></span>
</td>
<td class="num">(34)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="num">(18)<span></span>
</td>
<td class="num">(29)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets', window );">Transfer into Level 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(93)<span></span>
</td>
<td class="num">(21)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">53<span></span>
</td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">784<span></span>
</td>
<td class="nump">710<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement', window );">Change in unrealized gains (losses) on assets still held</a></td>
<td class="num">(10)<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | FVTPL [Member] | Residential mortgage asset-backed securities [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement', window );">Change in unrealized gains (losses) on assets still held</a></td>
<td class="nump">6<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | FVTPL [Member] | Commercial mortgage asset-backed securities [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | FVTPL [Member] | Other securitized assets [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">25<span></span>
</td>
<td class="nump">35<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(56)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement', window );">Change in unrealized gains (losses) on assets still held</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | AFS [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">136<span></span>
</td>
<td class="nump">130<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net AOCI</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">55<span></span>
</td>
<td class="nump">36<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(27)<span></span>
</td>
<td class="num">(26)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="num">(8)<span></span>
</td>
<td class="num">(8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets', window );">Transfer into Level 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">159<span></span>
</td>
<td class="nump">136<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | AFS [Member] | Other government and agency [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">47<span></span>
</td>
<td class="nump">51<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net AOCI</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">14<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(15)<span></span>
</td>
<td class="num">(15)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="num">(4)<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets', window );">Transfer into Level 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">37<span></span>
</td>
<td class="nump">47<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | AFS [Member] | Corporate [member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">88<span></span>
</td>
<td class="nump">74<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net AOCI</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">49<span></span>
</td>
<td class="nump">22<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(12)<span></span>
</td>
<td class="num">(10)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="num">(4)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">120<span></span>
</td>
<td class="nump">88<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | AFS [Member] | Residential mortgage asset-backed securities [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net AOCI</a></td>
<td class="nump">1<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | AFS [Member] | Commercial mortgage asset-backed securities [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | AFS [Member] | Other securitized assets [Member] | Debt securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SettlementsFairValueMeasurementAssets', window );">Settlements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Real estate [Member] | Investment property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems', window );"><strong>Disclosure of fair value measurement of assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset Beginning of period</a></td>
<td class="nump">12,529<span></span>
</td>
<td class="nump">12,756<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets', window );">Net realized/unrealized gains (losses) included in net income</a></td>
<td class="nump">291<span></span>
</td>
<td class="nump">301<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesFairValueMeasurementAssets', window );">Purchases</a></td>
<td class="nump">615<span></span>
</td>
<td class="nump">1,257<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesFairValueMeasurementAssets', window );">Sales</a></td>
<td class="num">(2,578)<span></span>
</td>
<td class="num">(1,267)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfer out of Level 3</a></td>
<td class="num">(706)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Currency Movement</a></td>
<td class="nump">610<span></span>
</td>
<td class="num">(518)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Asset at end of period</a></td>
<td class="nump">10,761<span></span>
</td>
<td class="nump">12,529<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement', window );">Change in unrealized gains (losses) on assets still held</a></td>
<td class="nump">$ 244<span></span>
</td>
<td class="nump">$ 264<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of exchange differences recognised in profit or loss that arise from foreign currency transactions, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: At fair value [member]; Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Section A Statement of cash flows for an entity other than a financial institution<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=sect_AStatementofcashflowsforanentityotherthanafinancialinstitution&amp;doctype=Illustrative%20Examples<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2018-01-01<br> -Paragraph 52<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=21&amp;date=2018-03-01&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on the fair value measurement of assets. [Refer: At fair value [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in profit or loss for assets measured at fair value that are attributable to the change in unrealised gains or losses relating to those assets held at the end of the reporting period. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_f&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesRecognisedInProfitOrLossAttributableToChangeInUnrealisedGainsOrLossesForAssetsHeldAtEndOfPeriodFairValueMeasurement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in profit or loss on the fair value measurement of assets. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchasesFairValueMeasurementAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in the fair value measurement of assets resulting from purchases of those assets. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchasesFairValueMeasurementAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SalesFairValueMeasurementAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in the fair value measurement of assets resulting from sales. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SalesFairValueMeasurementAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SettlementsFairValueMeasurementAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in the fair value measurement of assets resulting from settlements. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e_iii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SettlementsFairValueMeasurementAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers of assets into Level 3 of the fair value hierarchy. [Refer: Level 3 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersIntoLevel3OfFairValueHierarchyAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers of assets out of Level 3 of the fair value hierarchy. [Refer: Level 3 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2018-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2018-03-01&amp;anchor=para_93_e_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DebtSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_DebtSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_PublicEquitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_PublicEquitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_OtherInvestedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_RealEstateAndOtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_RealEstateAndOtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=mfc_SegregatedFundsNetAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=mfc_SegregatedFundsNetAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MajorCustomersAxis=mfc_OtherGovernmentAndAgencyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorCustomersAxis=mfc_OtherGovernmentAndAgencyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MajorCustomersAxis=mfc_CorporateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorCustomersAxis=mfc_CorporateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MajorCustomersAxis=mfc_ResidentialMortgageAssetbackedSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorCustomersAxis=mfc_ResidentialMortgageAssetbackedSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MajorCustomersAxis=mfc_CommercialMortgageAssetbackedSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorCustomersAxis=mfc_CommercialMortgageAssetbackedSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MajorCustomersAxis=mfc_OtherSecuritizedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorCustomersAxis=mfc_OtherSecuritizedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_RealEstate1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=mfc_RealEstate1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_InvestmentPropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_InvestmentPropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
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<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<TYPE>XML
<SEQUENCE>93
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6860785824">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative and Hedging Instruments - Summary of Gross Notional Amount and Fair Value of Derivative Instruments (Detail) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 414,734,000,000<span></span>
</td>
<td class="nump">$ 336,773,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">13,703,000,000<span></span>
</td>
<td class="nump">15,569,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">7,803,000,000<span></span>
</td>
<td class="nump">7,822,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_DesignatedMember', window );">Designated [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">4,489,000,000<span></span>
</td>
<td class="nump">2,679,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_DesignatedMember', window );">Designated [Member] | Fair value hedges [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">519,000,000<span></span>
</td>
<td class="nump">548,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_DesignatedMember', window );">Designated [Member] | Fair value hedges [Member] | Foreign currency swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">91,000,000<span></span>
</td>
<td class="nump">84,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_DesignatedMember', window );">Designated [Member] | Cash flow hedges [Member] | Foreign currency swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">1,834,000,000<span></span>
</td>
<td class="nump">1,757,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_DesignatedMember', window );">Designated [Member] | Cash flow hedges [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">80,000,000<span></span>
</td>
<td class="nump">165,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_DesignatedMember', window );">Designated [Member] | Cash flow hedges [Member] | Equity contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">101,000,000<span></span>
</td>
<td class="nump">125,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_DesignatedMember', window );">Designated [Member] | Hedges of net investment in foreign operations [Member] | Foreign Currency Forwards [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">1,864,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member', window );">Non designated [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">410,245,000,000<span></span>
</td>
<td class="nump">334,094,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member', window );">Non designated [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">300,704,000,000<span></span>
</td>
<td class="nump">246,270,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member', window );">Non designated [Member] | Foreign currency swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">23,156,000,000<span></span>
</td>
<td class="nump">16,321,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member', window );">Non designated [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">29,248,000,000<span></span>
</td>
<td class="nump">20,341,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member', window );">Non designated [Member] | Equity contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">15,492,000,000<span></span>
</td>
<td class="nump">13,597,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member', window );">Non designated [Member] | Interest rate futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">14,297,000,000<span></span>
</td>
<td class="nump">11,551,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member', window );">Non designated [Member] | Interest rate options [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">11,736,000,000<span></span>
</td>
<td class="nump">10,093,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member', window );">Non designated [Member] | Currency rate futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">4,052,000,000<span></span>
</td>
<td class="nump">3,157,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member', window );">Non designated [Member] | Credit default swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">652,000,000<span></span>
</td>
<td class="nump">606,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member', window );">Non designated [Member] | Equity futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">10,908,000,000<span></span>
</td>
<td class="nump">12,158,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">13,703,000,000<span></span>
</td>
<td class="nump">15,569,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">7,803,000,000<span></span>
</td>
<td class="nump">7,822,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">12,155,000,000<span></span>
</td>
<td class="nump">14,199,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">5,815,000,000<span></span>
</td>
<td class="nump">6,309,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Equity contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">653,000,000<span></span>
</td>
<td class="nump">829,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">174,000,000<span></span>
</td>
<td class="nump">23,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Credit default swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">9,000,000<span></span>
</td>
<td class="nump">14,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Designated [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">106,000,000<span></span>
</td>
<td class="nump">37,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">466,000,000<span></span>
</td>
<td class="nump">362,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Designated [Member] | Fair value hedges [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">13,000,000<span></span>
</td>
<td class="nump">20,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Designated [Member] | Fair value hedges [Member] | Foreign currency swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">5,000,000<span></span>
</td>
<td class="nump">1,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Designated [Member] | Cash flow hedges [Member] | Foreign currency swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">80,000,000<span></span>
</td>
<td class="nump">20,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">367,000,000<span></span>
</td>
<td class="nump">333,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Designated [Member] | Cash flow hedges [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">9,000,000<span></span>
</td>
<td class="nump">4,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Designated [Member] | Cash flow hedges [Member] | Equity contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">12,000,000<span></span>
</td>
<td class="nump">1,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Designated [Member] | Hedges of net investment in foreign operations [Member] | Foreign Currency Forwards [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">21,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">65,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Non designated [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">13,597,000,000<span></span>
</td>
<td class="nump">15,532,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">7,337,000,000<span></span>
</td>
<td class="nump">7,460,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Non designated [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">11,204,000,000<span></span>
</td>
<td class="nump">12,984,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">5,675,000,000<span></span>
</td>
<td class="nump">6,251,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Non designated [Member] | Foreign currency swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">747,000,000<span></span>
</td>
<td class="nump">494,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">1,341,000,000<span></span>
</td>
<td class="nump">1,122,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Non designated [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">670,000,000<span></span>
</td>
<td class="nump">915,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">158,000,000<span></span>
</td>
<td class="nump">65,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Non designated [Member] | Equity contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">653,000,000<span></span>
</td>
<td class="nump">813,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Fair value, liabilities</a></td>
<td class="nump">163,000,000<span></span>
</td>
<td class="nump">22,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Non designated [Member] | Interest rate options [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">314,000,000<span></span>
</td>
<td class="nump">312,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member] | Non designated [Member] | Credit default swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair value, assets</a></td>
<td class="nump">$ 9,000,000<span></span>
</td>
<td class="nump">$ 14,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=mfc_DesignatedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=mfc_DesignatedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_ForeignCurrencyForwardsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_ForeignCurrencyForwardsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InterestRateFuturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InterestRateFuturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InterestRateOptionsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_CurrencyRateFuturesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_CreditDefaultSwapsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_CreditDefaultSwapsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>94
<FILENAME>R69.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839108272">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative and Hedging Instruments - Summary of Fair Values of Derivative Instruments by Remaining Term to Maturity (Detail) - CAD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">$ 13,703,000,000<span></span>
</td>
<td class="nump">$ 15,569,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">7,803,000,000<span></span>
</td>
<td class="nump">7,822,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">414,734,000,000<span></span>
</td>
<td class="nump">336,773,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskDerivativesAtFairValueNet1', window );">Credit risk equivalent</a></td>
<td class="nump">10,933,000,000<span></span>
</td>
<td class="nump">12,262,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskWeightedAmount', window );">Risk- weighted amount</a></td>
<td class="nump">1,505,000,000<span></span>
</td>
<td class="nump">1,457,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">13,703,000,000<span></span>
</td>
<td class="nump">15,569,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">7,803,000,000<span></span>
</td>
<td class="nump">7,822,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="nump">5,900,000,000<span></span>
</td>
<td class="nump">7,747,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">352,462,000,000<span></span>
</td>
<td class="nump">285,787,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskDerivativesAtFairValueNet1', window );">Credit risk equivalent</a></td>
<td class="nump">5,936,000,000<span></span>
</td>
<td class="nump">7,344,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskWeightedAmount', window );">Risk- weighted amount</a></td>
<td class="nump">882,000,000<span></span>
</td>
<td class="nump">905,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">12,799,000,000<span></span>
</td>
<td class="nump">14,839,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">6,699,000,000<span></span>
</td>
<td class="nump">7,111,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="nump">6,100,000,000<span></span>
</td>
<td class="nump">7,728,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | OTC swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">147,880,000,000<span></span>
</td>
<td class="nump">138,714,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskDerivativesAtFairValueNet1', window );">Credit risk equivalent</a></td>
<td class="nump">5,301,000,000<span></span>
</td>
<td class="nump">6,588,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskWeightedAmount', window );">Risk- weighted amount</a></td>
<td class="nump">787,000,000<span></span>
</td>
<td class="nump">809,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | OTC swap contracts [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">11,750,000,000<span></span>
</td>
<td class="nump">13,379,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">6,477,000,000<span></span>
</td>
<td class="nump">6,867,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="nump">5,273,000,000<span></span>
</td>
<td class="nump">6,512,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | Cleared swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">153,343,000,000<span></span>
</td>
<td class="nump">108,104,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | Cleared swap contracts [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">95,000,000<span></span>
</td>
<td class="nump">245,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">96,000,000<span></span>
</td>
<td class="nump">206,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="num">(1,000,000)<span></span>
</td>
<td class="nump">39,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">25,206,000,000<span></span>
</td>
<td class="nump">17,325,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskDerivativesAtFairValueNet1', window );">Credit risk equivalent</a></td>
<td class="nump">259,000,000<span></span>
</td>
<td class="nump">285,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskWeightedAmount', window );">Risk- weighted amount</a></td>
<td class="nump">37,000,000<span></span>
</td>
<td class="nump">35,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | Forward contracts [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">637,000,000<span></span>
</td>
<td class="nump">903,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">126,000,000<span></span>
</td>
<td class="nump">38,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="nump">511,000,000<span></span>
</td>
<td class="nump">865,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | Futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">14,297,000,000<span></span>
</td>
<td class="nump">11,551,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | Options purchased [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">11,736,000,000<span></span>
</td>
<td class="nump">10,093,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskDerivativesAtFairValueNet1', window );">Credit risk equivalent</a></td>
<td class="nump">376,000,000<span></span>
</td>
<td class="nump">471,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskWeightedAmount', window );">Risk- weighted amount</a></td>
<td class="nump">58,000,000<span></span>
</td>
<td class="nump">61,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | Options purchased [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">317,000,000<span></span>
</td>
<td class="nump">312,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="nump">317,000,000<span></span>
</td>
<td class="nump">312,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_ForeignExchange4Member', window );">Foreign exchange [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">5,986,000,000<span></span>
</td>
<td class="nump">3,181,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskDerivativesAtFairValueNet1', window );">Credit risk equivalent</a></td>
<td class="nump">108,000,000<span></span>
</td>
<td class="nump">101,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskWeightedAmount', window );">Risk- weighted amount</a></td>
<td class="nump">13,000,000<span></span>
</td>
<td class="nump">12,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_ForeignExchange4Member', window );">Foreign exchange [Member] | Forward contracts [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">54,000,000<span></span>
</td>
<td class="nump">12,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">106,000,000<span></span>
</td>
<td class="nump">31,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="num">(52,000,000)<span></span>
</td>
<td class="num">(19,000,000)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_ForeignExchange4Member', window );">Foreign exchange [Member] | Futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">4,052,000,000<span></span>
</td>
<td class="nump">3,157,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_ForeignExchange4Member', window );">Foreign exchange [Member] | Swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">25,081,000,000<span></span>
</td>
<td class="nump">18,162,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskDerivativesAtFairValueNet1', window );">Credit risk equivalent</a></td>
<td class="nump">2,309,000,000<span></span>
</td>
<td class="nump">1,874,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskWeightedAmount', window );">Risk- weighted amount</a></td>
<td class="nump">256,000,000<span></span>
</td>
<td class="nump">200,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_ForeignExchange4Member', window );">Foreign exchange [Member] | Swap contracts [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">807,000,000<span></span>
</td>
<td class="nump">510,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">1,736,000,000<span></span>
</td>
<td class="nump">1,483,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="num">(929,000,000)<span></span>
</td>
<td class="num">(973,000,000)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_CreditDerivativesMember', window );">Credit derivatives [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">652,000,000<span></span>
</td>
<td class="nump">606,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_CreditDerivativesMember', window );">Credit derivatives [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">10,000,000<span></span>
</td>
<td class="nump">14,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="nump">10,000,000<span></span>
</td>
<td class="nump">14,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_EquityContractsMember', window );">Equity contracts [Member] | Futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">10,908,000,000<span></span>
</td>
<td class="nump">12,158,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_EquityContractsMember', window );">Equity contracts [Member] | Options purchased [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">12,723,000,000<span></span>
</td>
<td class="nump">10,941,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskDerivativesAtFairValueNet1', window );">Credit risk equivalent</a></td>
<td class="nump">2,277,000,000<span></span>
</td>
<td class="nump">2,606,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskWeightedAmount', window );">Risk- weighted amount</a></td>
<td class="nump">316,000,000<span></span>
</td>
<td class="nump">305,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_EquityContractsMember', window );">Equity contracts [Member] | Options purchased [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">621,000,000<span></span>
</td>
<td class="nump">769,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">118,000,000<span></span>
</td>
<td class="nump">10,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="nump">503,000,000<span></span>
</td>
<td class="nump">759,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_EquityContractsMember', window );">Equity contracts [Member] | Swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">2,870,000,000<span></span>
</td>
<td class="nump">2,781,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskDerivativesAtFairValueNet1', window );">Credit risk equivalent</a></td>
<td class="nump">303,000,000<span></span>
</td>
<td class="nump">337,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskWeightedAmount', window );">Risk- weighted amount</a></td>
<td class="nump">38,000,000<span></span>
</td>
<td class="nump">35,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_EquityContractsMember', window );">Equity contracts [Member] | Swap contracts [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">29,000,000<span></span>
</td>
<td class="nump">60,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">57,000,000<span></span>
</td>
<td class="nump">14,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="num">(28,000,000)<span></span>
</td>
<td class="nump">46,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_FinancialInstrumentsMember', window );">Financial Instruments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">414,734,000,000<span></span>
</td>
<td class="nump">336,773,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskDerivativesAtFairValueNet1', window );">Credit risk equivalent</a></td>
<td class="nump">10,933,000,000<span></span>
</td>
<td class="nump">12,262,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CreditRiskWeightedAmount', window );">Risk- weighted amount</a></td>
<td class="nump">1,505,000,000<span></span>
</td>
<td class="nump">1,457,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_FinancialInstrumentsMember', window );">Financial Instruments [member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">14,320,000,000<span></span>
</td>
<td class="nump">16,204,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">8,716,000,000<span></span>
</td>
<td class="nump">8,649,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="nump">5,604,000,000<span></span>
</td>
<td class="nump">7,555,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=mfc_AccruedInterestMember', window );">Accrued interest [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">617,000,000<span></span>
</td>
<td class="nump">635,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">913,000,000<span></span>
</td>
<td class="nump">827,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet', window );">Fair value, net</a></td>
<td class="num">(296,000,000)<span></span>
</td>
<td class="num">(192,000,000)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">649,000,000<span></span>
</td>
<td class="nump">605,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">359,000,000<span></span>
</td>
<td class="nump">224,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">65,862,000,000<span></span>
</td>
<td class="nump">53,882,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">34,939,000,000<span></span>
</td>
<td class="nump">27,179,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Interest rate swaps [Member] | OTC swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">3,495,000,000<span></span>
</td>
<td class="nump">7,161,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Interest rate swaps [Member] | Cleared swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">5,723,000,000<span></span>
</td>
<td class="nump">1,615,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Interest rate swaps [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">10,258,000,000<span></span>
</td>
<td class="nump">6,036,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Interest rate swaps [Member] | Futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">14,297,000,000<span></span>
</td>
<td class="nump">11,551,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Interest rate swaps [Member] | Options purchased [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">1,166,000,000<span></span>
</td>
<td class="nump">816,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Foreign exchange [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">5,926,000,000<span></span>
</td>
<td class="nump">3,046,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Foreign exchange [Member] | Futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">4,052,000,000<span></span>
</td>
<td class="nump">3,157,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Foreign exchange [Member] | Swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">1,024,000,000<span></span>
</td>
<td class="nump">999,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Credit derivatives [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">143,000,000<span></span>
</td>
<td class="nump">38,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Equity contracts [Member] | Futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">10,908,000,000<span></span>
</td>
<td class="nump">12,158,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Equity contracts [Member] | Options purchased [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">6,142,000,000<span></span>
</td>
<td class="nump">4,693,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Equity contracts [Member] | Swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">2,728,000,000<span></span>
</td>
<td class="nump">2,612,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year [Member] | Financial Instruments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">65,862,000,000<span></span>
</td>
<td class="nump">53,882,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember', window );">1 to 3 years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">671,000,000<span></span>
</td>
<td class="nump">822,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">229,000,000<span></span>
</td>
<td class="nump">149,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember', window );">3 to 5 years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">795,000,000<span></span>
</td>
<td class="nump">889,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">227,000,000<span></span>
</td>
<td class="nump">168,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Over 5 years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative assets</a></td>
<td class="nump">11,588,000,000<span></span>
</td>
<td class="nump">13,253,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">6,988,000,000<span></span>
</td>
<td class="nump">7,281,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">277,310,000,000<span></span>
</td>
<td class="nump">224,851,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Over 5 years [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">259,534,000,000<span></span>
</td>
<td class="nump">212,069,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Over 5 years [Member] | Interest rate swaps [Member] | OTC swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">121,817,000,000<span></span>
</td>
<td class="nump">112,412,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Over 5 years [Member] | Interest rate swaps [Member] | Cleared swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">131,480,000,000<span></span>
</td>
<td class="nump">93,561,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Over 5 years [Member] | Interest rate swaps [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">648,000,000<span></span>
</td>
<td class="nump">675,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Over 5 years [Member] | Interest rate swaps [Member] | Options purchased [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">5,589,000,000<span></span>
</td>
<td class="nump">5,421,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Over 5 years [Member] | Foreign exchange [Member] | Swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">17,776,000,000<span></span>
</td>
<td class="nump">12,682,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Over 5 years [Member] | Equity contracts [Member] | Options purchased [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Over 5 years [Member] | Financial Instruments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">277,310,000,000<span></span>
</td>
<td class="nump">224,851,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">71,562,000,000<span></span>
</td>
<td class="nump">58,040,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">57,989,000,000<span></span>
</td>
<td class="nump">46,539,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Interest rate swaps [Member] | OTC swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">22,568,000,000<span></span>
</td>
<td class="nump">19,141,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Interest rate swaps [Member] | Cleared swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">16,140,000,000<span></span>
</td>
<td class="nump">12,928,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Interest rate swaps [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">14,300,000,000<span></span>
</td>
<td class="nump">10,614,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Interest rate swaps [Member] | Options purchased [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">4,981,000,000<span></span>
</td>
<td class="nump">3,856,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Foreign exchange [Member] | Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">60,000,000<span></span>
</td>
<td class="nump">135,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Foreign exchange [Member] | Swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">6,281,000,000<span></span>
</td>
<td class="nump">4,481,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Credit derivatives [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">509,000,000<span></span>
</td>
<td class="nump">568,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Equity contracts [Member] | Options purchased [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">6,581,000,000<span></span>
</td>
<td class="nump">6,148,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Equity contracts [Member] | Swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">142,000,000<span></span>
</td>
<td class="nump">169,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">1 to 5 years [Member] | Financial Instruments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Remaining term to maturity (notional amounts)</a></td>
<td class="nump">$ 71,562,000,000<span></span>
</td>
<td class="nump">$ 58,040,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_CreditRiskDerivativesAtFairValueNet1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Credit risk derivatives at fair value net.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_CreditRiskDerivativesAtFairValueNet1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_CreditRiskWeightedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Credit risk weighted amount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_CreditRiskWeightedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of derivative financial assets liabilities net.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_FairValueOfDerivativeFinancialAssetsLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ifrs-full_InterestRateSwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_OTCSwapContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_OTCSwapContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_ClearedSwapContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_ClearedSwapContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FuturesContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FuturesContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_OptionContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_OptionContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=mfc_ForeignExchange4Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=mfc_ForeignExchange4Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=mfc_CreditDerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=mfc_CreditDerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=mfc_EquityContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=mfc_EquityContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=mfc_FinancialInstrumentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=mfc_FinancialInstrumentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=mfc_AccruedInterestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=mfc_AccruedInterestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>95
<FILENAME>R70.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6835201712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative and Hedging Instruments - Additional Information (Detail) - CAD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 414,734,000,000<span></span>
</td>
<td class="nump">$ 336,773,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfReinsuranceCededGuaranteedMinimumIncomeBenefits', window );">Fair value of reinsurance ceded guaranteed minimum income benefits</a></td>
<td class="nump">1,148,000,000<span></span>
</td>
<td class="nump">1,079,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfReinsuranceAssumedGuaranteedMinimumIncomeBenefits', window );">Fair value of reinsurance assumed guaranteed minimum income benefits</a></td>
<td class="nump">114,000,000<span></span>
</td>
<td class="nump">100,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfCreditAndInterestRateEmbeddedDerivatives', window );">Fair value of credit and interest rate embedded derivatives</a></td>
<td class="nump">53,000,000<span></span>
</td>
<td class="nump">123,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_AccumulatedOtherComprehensiveIncomeMember', window );">Shareholders' accumulated other comprehensive income (loss) ("AOCI") [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossWithinTheNextTwelveMonthsnetOfTax', window );">Net loss that will be reclassified from AOCI to net income within next 12 months</a></td>
<td class="nump">$ 31,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_MaximumTimeFrameForWhichVariableCashFlowsAreHedged', window );">Maximum time frame for which variable cash flows are hedged</a></td>
<td class="text">18 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember', window );">Variable annuity guarantee dynamic hedging and macro equity risk hedging programs [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 136,000,000,000<span></span>
</td>
<td class="nump">$ 114,000,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_FairValueOfCreditAndInterestRateEmbeddedDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of credit and interest rate embedded derivatives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_FairValueOfCreditAndInterestRateEmbeddedDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_FairValueOfReinsuranceAssumedGuaranteedMinimumIncomeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of reinsurance assumed guaranteed minimum income benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_FairValueOfReinsuranceAssumedGuaranteedMinimumIncomeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_FairValueOfReinsuranceCededGuaranteedMinimumIncomeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of reinsurance ceded guaranteed minimum income benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_FairValueOfReinsuranceCededGuaranteedMinimumIncomeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_MaximumTimeFrameForWhichVariableCashFlowsAreHedged">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum time frame for which variable cash flows are hedged.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_MaximumTimeFrameForWhichVariableCashFlowsAreHedged</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossWithinTheNextTwelveMonthsnetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other Comprehensive Income That Will Be Reclassified To Profit Or Loss Within The next 12 monthsNet Of Tax</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossWithinTheNextTwelveMonthsnetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_AccumulatedOtherComprehensiveIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_AccumulatedOtherComprehensiveIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_VariableAnnuityGuaranteeDynamicHedgingAndMacroEquityRiskHedgingProgramsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R71.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6880202384">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative and Hedging Instruments - Summary of Fair Value and Fair Value Hierarchy of Derivative Instruments (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">$ 13,703<span></span>
</td>
<td class="nump">$ 15,569<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">7,803<span></span>
</td>
<td class="nump">7,822<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">13,703<span></span>
</td>
<td class="nump">15,569<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">7,803<span></span>
</td>
<td class="nump">7,822<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">12,155<span></span>
</td>
<td class="nump">14,199<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">5,815<span></span>
</td>
<td class="nump">6,309<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_ForeignExchangeContract1Member', window );">Foreign Exchange Contract [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">886<span></span>
</td>
<td class="nump">527<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">1,814<span></span>
</td>
<td class="nump">1,490<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityContractsMember', window );">Equity contracts [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">653<span></span>
</td>
<td class="nump">829<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">174<span></span>
</td>
<td class="nump">23<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_CreditDefaultSwapsMember', window );">Credit default swaps [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">14<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">13,043<span></span>
</td>
<td class="nump">14,490<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">7,249<span></span>
</td>
<td class="nump">7,512<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Interest rate swaps [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">11,537<span></span>
</td>
<td class="nump">13,181<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">5,318<span></span>
</td>
<td class="nump">6,012<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Foreign Exchange Contract [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">876<span></span>
</td>
<td class="nump">527<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">1,813<span></span>
</td>
<td class="nump">1,490<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Equity contracts [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">621<span></span>
</td>
<td class="nump">768<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">118<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member] | Credit default swaps [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">14<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">660<span></span>
</td>
<td class="nump">1,079<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">554<span></span>
</td>
<td class="nump">310<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Interest rate swaps [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">618<span></span>
</td>
<td class="nump">1,018<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">497<span></span>
</td>
<td class="nump">297<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Foreign Exchange Contract [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member] | Equity contracts [Member] | Fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total derivative assets</a></td>
<td class="nump">32<span></span>
</td>
<td class="nump">61<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Total derivative liabilities</a></td>
<td class="nump">$ 56<span></span>
</td>
<td class="nump">$ 13<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_ForeignExchangeContract1Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityContractsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_CreditDefaultSwapsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>97
<FILENAME>R72.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839807504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative and Hedging Instruments - Net Derivative Significant Unobservable Inputs Used in Fair Value Measurement (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfRollForwardsForNetDerivativeContractsMeasuredAtFairValueUsingSignificantUnobservableInputsAbstract', window );"><strong>Disclosure of Roll forwards for net derivative contracts measured at fair value using significant unobservable inputs abstract</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeFairValueAmount', window );">Balance at the beginning of the year</a></td>
<td class="nump">$ 769<span></span>
</td>
<td class="nump">$ 163<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetRealizedUnrealizedGainsLossesOnDerivativeInvestmentIncome', window );">Net income</a></td>
<td class="num">(666)<span></span>
</td>
<td class="nump">1,082<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetRealizedUnrealizedGainsLossesOnDerivativeOtherComprehensiveIncome', window );">OCI</a></td>
<td class="num">(48)<span></span>
</td>
<td class="num">(9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PurchasesOfMultipleSignificantUnobservableInputsOnDerivativeInstruments', window );">Purchases</a></td>
<td class="nump">12<span></span>
</td>
<td class="nump">22<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_SettlementsMultipleSignificantUnobservableInputsOnDerivativeInstruments', window );">Settlements</a></td>
<td class="nump">18<span></span>
</td>
<td class="num">(103)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities', window );">Into Level 3</a></td>
<td class="nump">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities', window );">Out of Level 3</a></td>
<td class="num">(13)<span></span>
</td>
<td class="num">(363)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments', window );">Currency movement</a></td>
<td class="nump">25<span></span>
</td>
<td class="num">(23)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeFairValueAmount', window );">Balance at the end of the year</a></td>
<td class="nump">106<span></span>
</td>
<td class="nump">769<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Change in unrealized gains (losses) on instruments still held</a></td>
<td class="num">$ (460)<span></span>
</td>
<td class="nump">$ 832<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Currency movement of multiple significant unobservable inputs on derivative instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_CurrencyMovementOfMultipleSignificantUnobservableInputsOnDerivativeInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DerivativeFairValueAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Derivative fair value amount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DerivativeFairValueAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfRollForwardsForNetDerivativeContractsMeasuredAtFairValueUsingSignificantUnobservableInputsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of Roll forwards for net derivative contracts measured at fair value using significant unobservable inputs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfRollForwardsForNetDerivativeContractsMeasuredAtFairValueUsingSignificantUnobservableInputsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_NetRealizedUnrealizedGainsLossesOnDerivativeInvestmentIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net realized unrealized gains (losses) on derivative investment income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_NetRealizedUnrealizedGainsLossesOnDerivativeInvestmentIncome</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_NetRealizedUnrealizedGainsLossesOnDerivativeOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net realized unrealized gains losses on derivative other comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_NetRealizedUnrealizedGainsLossesOnDerivativeOtherComprehensiveIncome</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Purchases of multiple significant unobservable inputs on derivative instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_PurchasesOfMultipleSignificantUnobservableInputsOnDerivativeInstruments</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_SettlementsMultipleSignificantUnobservableInputsOnDerivativeInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Settlements multiple significant unobservable inputs on derivative instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_SettlementsMultipleSignificantUnobservableInputsOnDerivativeInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transfers Into Level 3 Of Fair Value Hierarchy Financial Assets And Liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_TransfersIntoLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transfers Out Of Level 3 Of Fair Value Hierarchy Financial Assets And Liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_TransfersOutOfLevel3OfFairValueHierarchyFinancialAssetsAndLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6836498880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative and Hedging Instruments - Summary of Recognized Gains Losses on Derivatives and Hedged Items in Fair Value Hedges in Investment Income (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gains (losses) recognized on derivatives</a></td>
<td class="num">$ (460)<span></span>
</td>
<td class="nump">$ 832<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember', window );">Fair value hedges [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gains (losses) recognized on derivatives</a></td>
<td class="nump">11<span></span>
</td>
<td class="num">(17)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Gains (losses) recognized for hedged items</a></td>
<td class="num">(9)<span></span>
</td>
<td class="nump">18<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnHedgeIneffectiveness', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember', window );">Fair value hedges [Member] | Interest rate swaps [Member] | Fixed rate assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gains (losses) recognized on derivatives</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Gains (losses) recognized for hedged items</a></td>
<td class="num">(1)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnHedgeIneffectiveness', window );">Ineffectiveness recognized in investment income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember', window );">Fair value hedges [Member] | Interest rate swaps [Member] | Fixed rate liabilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gains (losses) recognized on derivatives</a></td>
<td class="nump">3<span></span>
</td>
<td class="num">(17)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Gains (losses) recognized for hedged items</a></td>
<td class="num">(3)<span></span>
</td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember', window );">Fair value hedges [Member] | Foreign currency swaps [Member] | Fixed rate assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gains (losses) recognized on derivatives</a></td>
<td class="nump">7<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Gains (losses) recognized for hedged items</a></td>
<td class="num">(5)<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnHedgeIneffectiveness', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">$ 2<span></span>
</td>
<td class="nump">$ 2<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gain (loss) on the change in fair value of the hedged item used as a basis for recognising hedge ineffectiveness. Hedge ineffectiveness is the extent to which the changes in the fair value or the cash flows of the hedging instrument are greater or less than those on the hedged item.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24B<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24B_a_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24B<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24B_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossOnHedgeIneffectiveness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gain (loss) on hedge ineffectiveness. Hedge ineffectiveness is the extent to which the changes in the fair value or the cash flows of the hedging instrument are greater or less than those on the hedged item.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 24C<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_24C_a_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossOnHedgeIneffectiveness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgedItemsAxis=mfc_FixedRateAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgedItemsAxis=mfc_FixedRateAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgedItemsAxis=mfc_FixedRateLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgedItemsAxis=mfc_FixedRateLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>99
<FILENAME>R74.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6838460752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative and Hedging Instruments - Summary of Effects of Derivatives in Cash Flow Hedging Relationships (Detail) - Cash flow hedges [Member] - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives', window );">Gains (losses) deferred in AOCI on derivatives</a></td>
<td class="num">$ (5)<span></span>
</td>
<td class="nump">$ 163<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome', window );">Gains (losses) reclassified from AOCI into investment income</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">58<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IneffectivenessRecognizedInInvestmentIncome', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember', window );">Interest rate swaps [Member] | Forecasted liabilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome', window );">Gains (losses) reclassified from AOCI into investment income</a></td>
<td class="num">(20)<span></span>
</td>
<td class="num">(17)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IneffectivenessRecognizedInInvestmentIncome', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember', window );">Foreign currency swaps [Member] | Fixed rate assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives', window );">Gains (losses) deferred in AOCI on derivatives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome', window );">Gains (losses) reclassified from AOCI into investment income</a></td>
<td class="num">(1)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IneffectivenessRecognizedInInvestmentIncome', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember', window );">Foreign currency swaps [Member] | Floating rate liabilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives', window );">Gains (losses) deferred in AOCI on derivatives</a></td>
<td class="num">(36)<span></span>
</td>
<td class="nump">95<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome', window );">Gains (losses) reclassified from AOCI into investment income</a></td>
<td class="num">(62)<span></span>
</td>
<td class="nump">50<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IneffectivenessRecognizedInInvestmentIncome', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember', window );">Foreign currency swaps [Member] | Fixed rate liabilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives', window );">Gains (losses) deferred in AOCI on derivatives</a></td>
<td class="nump">60<span></span>
</td>
<td class="nump">35<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome', window );">Gains (losses) reclassified from AOCI into investment income</a></td>
<td class="nump">62<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IneffectivenessRecognizedInInvestmentIncome', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember', window );">Forward contracts [Member] | Forecasted expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives', window );">Gains (losses) deferred in AOCI on derivatives</a></td>
<td class="num">(8)<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome', window );">Gains (losses) reclassified from AOCI into investment income</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(10)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IneffectivenessRecognizedInInvestmentIncome', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember', window );">Equity contracts [Member] | Stock-based compensation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives', window );">Gains (losses) deferred in AOCI on derivatives</a></td>
<td class="num">(21)<span></span>
</td>
<td class="nump">20<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome', window );">Gains (losses) reclassified from AOCI into investment income</a></td>
<td class="nump">27<span></span>
</td>
<td class="nump">29<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IneffectivenessRecognizedInInvestmentIncome', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gains (losses) deferred in accumulated other comprehensive income on derivatives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gains (losses) reclassified from accumulated other comprehensive income into investment income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IneffectivenessRecognizedInInvestmentIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ineffectiveness recognized in investment income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IneffectivenessRecognizedInInvestmentIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgedItemsAxis=mfc_ForecastedLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgedItemsAxis=mfc_ForecastedLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgedItemsAxis=mfc_FixedRateAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgedItemsAxis=mfc_FixedRateAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgedItemsAxis=mfc_FloatingRateLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgedItemsAxis=mfc_FloatingRateLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgedItemsAxis=mfc_FixedRateLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgedItemsAxis=mfc_FixedRateLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgedItemsAxis=mfc_ForecastedExpensesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgedItemsAxis=mfc_ForecastedExpensesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgedItemsAxis=mfc_StockBasedCompensationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgedItemsAxis=mfc_StockBasedCompensationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>100
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6836372736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative and Hedging Instruments - Summary of Effects of Net Investment Hedging Relationships (Detail) - Hedges of net investment in foreign operations [Member] - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives', window );">Gains (losses) deferred in AOCI on derivatives</a></td>
<td class="num">$ (460)<span></span>
</td>
<td class="nump">$ 355<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome', window );">Gains (losses) reclassified from AOCI into investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IneffectivenessRecognizedInInvestmentIncome', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember', window );">Foreign Currency Forwards [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives', window );">Gains (losses) deferred in AOCI on derivatives</a></td>
<td class="nump">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome', window );">Gains (losses) reclassified from AOCI into investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IneffectivenessRecognizedInInvestmentIncome', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember', window );">Non-functional currency denominated debt [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives', window );">Gains (losses) deferred in AOCI on derivatives</a></td>
<td class="num">(469)<span></span>
</td>
<td class="nump">355<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome', window );">Gains (losses) reclassified from AOCI into investment income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IneffectivenessRecognizedInInvestmentIncome', window );">Ineffectiveness recognized in investment income</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gains (losses) deferred in accumulated other comprehensive income on derivatives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_GainsLossesDeferredInAccumulatedOtherComprehensiveIncomeOnDerivatives</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gains (losses) reclassified from accumulated other comprehensive income into investment income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_GainsLossesReclassifiedFromAccumulatedOtherComprehensiveIncomeIntoInvestmentIncome</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IneffectivenessRecognizedInInvestmentIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ineffectiveness recognized in investment income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IneffectivenessRecognizedInInvestmentIncome</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_ForeignCurrencyForwardsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgedItemsAxis=mfc_NonFunctionalCurrencyDenominatedDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgedItemsAxis=mfc_NonFunctionalCurrencyDenominatedDebtMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>101
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6841656672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative and Hedging Instruments - Summary of Effects of Derivatives Not Designated in Qualifying Hedge Accounting Relationships (Detail) - Non designated [Member] - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeInvestmentIncomeLoss', window );">Derivative investment income (loss)</a></td>
<td class="num">$ (2,258)<span></span>
</td>
<td class="num">$ (1,024)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember', window );">Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeInvestmentIncomeLoss', window );">Derivative investment income (loss)</a></td>
<td class="num">(1,894)<span></span>
</td>
<td class="num">(927)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InterestRateFuturesMember', window );">Interest rate futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeInvestmentIncomeLoss', window );">Derivative investment income (loss)</a></td>
<td class="num">(298)<span></span>
</td>
<td class="nump">372<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InterestRateOptionsMember', window );">Interest rate options [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeInvestmentIncomeLoss', window );">Derivative investment income (loss)</a></td>
<td class="num">(52)<span></span>
</td>
<td class="num">(96)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember', window );">Foreign currency swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeInvestmentIncomeLoss', window );">Derivative investment income (loss)</a></td>
<td class="num">(122)<span></span>
</td>
<td class="nump">529<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_CurrencyRateFuturesMember', window );">Currency rate futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeInvestmentIncomeLoss', window );">Derivative investment income (loss)</a></td>
<td class="nump">3<span></span>
</td>
<td class="num">(92)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forward contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeInvestmentIncomeLoss', window );">Derivative investment income (loss)</a></td>
<td class="num">(355)<span></span>
</td>
<td class="nump">1,231<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityFuturesMember', window );">Equity futures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeInvestmentIncomeLoss', window );">Derivative investment income (loss)</a></td>
<td class="nump">742<span></span>
</td>
<td class="num">(2,190)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityContractsMember', window );">Equity contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeInvestmentIncomeLoss', window );">Derivative investment income (loss)</a></td>
<td class="num">(276)<span></span>
</td>
<td class="nump">153<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_CreditDefaultSwapsMember', window );">Credit default swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DerivativeInvestmentIncomeLoss', window );">Derivative investment income (loss)</a></td>
<td class="num">$ (6)<span></span>
</td>
<td class="num">$ (4)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Derivative investment income loss.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DerivativeInvestmentIncomeLoss</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=mfc_NonDesignated1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_InterestRateSwapContractMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InterestRateFuturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InterestRateFuturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InterestRateOptionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_InterestRateOptionsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_CurrencyRateFuturesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityFuturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityFuturesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_EquityContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=mfc_CreditDefaultSwapsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=mfc_CreditDefaultSwapsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>102
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834754272">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes - Components of Income Tax Expense (Recovery) Recognized in Consolidated Statements of Income (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsAbstract', window );"><strong>Current tax</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncome', window );">Current year</a></td>
<td class="num">$ (327)<span></span>
</td>
<td class="nump">$ 608<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod', window );">Adjustments to prior year</a></td>
<td class="nump">29<span></span>
</td>
<td class="num">(38)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods', window );">Current tax</a></td>
<td class="num">(298)<span></span>
</td>
<td class="nump">570<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeAbstract', window );"><strong>Deferred tax</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences', window );">Change related to temporary differences</a></td>
<td class="nump">1,250<span></span>
</td>
<td class="num">(803)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes', window );">Impact of U.S. Tax Reform</a></td>
<td class="num">(320)<span></span>
</td>
<td class="nump">472<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="nump">$ 632<span></span>
</td>
<td class="nump">$ 239<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments of tax expense (income) recognised in the period for current tax of prior periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 80<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_80_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 80<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_80_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncome</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current tax expense (income) and adjustments for the current tax of prior periods. [Refer: Current tax expense (income); Adjustments for current tax of prior periods]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 80<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_80&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax expense or income relating to the creation or reversal of temporary differences. [Refer: Temporary differences [member]; Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 80<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_80_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax expense or income relating to tax rate changes or the imposition of new taxes. [Refer: Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 80<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_80_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2018-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2018-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<head>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834586576">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes - Components of Income Tax Expense (Recovery) Recognized in Other Comprehensive Income ("OCI") (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract', window );"><strong>Major components of tax expense (income) [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome', window );">Current income tax expense (recovery)</a></td>
<td class="nump">$ 2<span></span>
</td>
<td class="nump">$ 116<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome', window );">Deferred income tax expense (recovery)</a></td>
<td class="num">(148)<span></span>
</td>
<td class="nump">320<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Total income tax expense (recovery)</a></td>
<td class="num">$ (146)<span></span>
</td>
<td class="nump">$ 436<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Current tax relating to items credited charged directly to other comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">mfc_CurrentTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax relating to items credited charged directly to other comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834342352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes - Components of Income Tax Expense (Recovery) Recognized in Equity (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract', window );"><strong>Major components of tax expense (income) [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Current income tax expense (recovery)</a></td>
<td class="nump">$ 6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Deferred income tax expense (recovery)</a></td>
<td class="num">(7)<span></span>
</td>
<td class="num">$ (2)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Income tax expense (recovery)</a></td>
<td class="num">$ (1)<span></span>
</td>
<td class="num">$ (2)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate current and deferred tax relating to particular items that are charged or credited directly to equity, for example: (a) an adjustment to the opening balance of retained earnings resulting from either a change in accounting policy that is applied retrospectively or the correction of an error; and (b) amounts arising on initial recognition of the equity component of a compound financial instrument. [Refer: Deferred tax relating to items credited (charged) directly to equity; Retained earnings; Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current tax relating to particular items that are charged or credited directly to equity, for example: (a) an adjustment to the opening balance of retained earnings resulting from either a change in accounting policy that is applied retrospectively or the correction of an error; and (b) amounts arising on initial recognition of the equity component of a compound financial instrument. [Refer: Retained earnings; Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax related to items credited (charged) directly to equity. [Refer: Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872628800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes - Additional Information (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 22, 2017</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract', window );"><strong>Major components of tax expense (income) [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageEffectiveTaxRate', window );">Effective income tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">26.75%<span></span>
</td>
<td class="nump">26.75%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax', window );">Provisional charge for the estimated impact of U.S. Tax Reform, after-tax</a></td>
<td class="nump">$ 1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GainFromImpactOfTaxReform', window );">Gain from impact of tax reform</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 124<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities', window );">Increase in insurance contract liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">196<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsCurrent', window );">Current tax receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,712<span></span>
</td>
<td class="nump">$ 778<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilitiesCurrent', window );">Current tax payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">118<span></span>
</td>
<td class="nump">178<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,318<span></span>
</td>
<td class="nump">4,569<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceDeferredTaxExpense', window );">Deferred tax assets - recognition dependent on future taxable profits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,508<span></span>
</td>
<td class="nump">4,527<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OperatingLossCarryforwards1', window );">Operating tax loss carry forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,838<span></span>
</td>
<td class="nump">3,164<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OperatingLossCarryforwardsWithExpiration', window );">Operating tax loss carry forward expired in future</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,713<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_OperatingLossCarryforwardsWithoutExpiration', window );">Operating tax loss carry forward without expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">125<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CapitalTaxLossCarryforwards', window );">Capital tax loss carry forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_UnusedTaxCreditsForWhichDeferredTaxAssetRecognised', window );">Tax benefit on loss carry forwards for which deferred tax asset recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,019<span></span>
</td>
<td class="nump">596<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax benefit of loss carry forwards for which no deferred tax asset recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">121<span></span>
</td>
<td class="nump">171<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TaxCreditCarryForwardsExpiredInFuture', window );">Tax credit carry forwards which expire in future</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">426<span></span>
</td>
<td class="nump">606<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised', window );">Tax credit carryforwards of which benefit not recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 165<span></span>
</td>
<td class="nump">152<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_TaxCreditLossCarryForwardExpiration', window );">Tax credit/Loss carryforwards expiration period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Between the years 2020 and 2038<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,814<span></span>
</td>
<td class="nump">1,281<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures', window );">Aggregate amount of taxable temporary differences associated with the Company's own investments in subsidiaries, not included in financial statements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,570<span></span>
</td>
<td class="nump">$ 11,780<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in insurance, reinsurance and investment contract liabilities to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Investment contracts liabilities; Liabilities under insurance contracts and reinsurance contracts issued; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2018-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2018-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AverageEffectiveTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The tax expense (income) divided by the accounting profit. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AverageEffectiveTaxRate</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax liabilities. [Refer: Current tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceDeferredTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of benefit arising from a previously unrecognised tax loss, tax credit or temporary difference of a prior period that is used to reduce deferred tax expense. [Refer: Deferred tax expense (income); Temporary differences [member]; Unused tax losses [member]; Unused tax credits [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 80<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_80_f&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceDeferredTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements, for which deferred tax liabilities have not been recognised as a result of satisfying both of the following conditions: (a) the parent, investor, joint venturer or joint operator is able to control the timing of the reversal of the temporary difference; and (b) it is probable that the temporary difference will not reverse in the foreseeable future. [Refer: Associates [member]; Subsidiaries [member]; Temporary differences [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_f&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of unused tax credits for which no deferred tax asset is recognised in the statement of financial position. [Refer: Unused tax credits [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of unused tax losses for which no deferred tax asset is recognised in the statement of financial position. [Refer: Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_CapitalTaxLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Capital tax loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_CapitalTaxLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_GainFromImpactOfTaxReform">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain from impact of tax reform.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_GainFromImpactOfTaxReform</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OperatingLossCarryforwards1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OperatingLossCarryforwards1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OperatingLossCarryforwardsWithExpiration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Operating loss carryforwards with expiration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OperatingLossCarryforwardsWithExpiration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_OperatingLossCarryforwardsWithoutExpiration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Operating loss carryforwards with no expiration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_OperatingLossCarryforwardsWithoutExpiration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Provisional charge for estimated impact of tax reform after tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ProvisionalChargeForEstimatedImpactOfTaxReformAfterTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_TaxCreditCarryForwardsExpiredInFuture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tax credit carry forwards expired in future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_TaxCreditCarryForwardsExpiredInFuture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_TaxCreditLossCarryForwardExpiration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tax credit loss carry forward expiration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_TaxCreditLossCarryForwardExpiration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_UnusedTaxCreditsForWhichDeferredTaxAssetRecognised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unused tax credits for which deferred tax asset recognised.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_UnusedTaxCreditsForWhichDeferredTaxAssetRecognised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834668512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes - Summary of Reconciliation of Income Tax Expense (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract', window );"><strong>Reconciliation of accounting profit multiplied by applicable tax rates [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income taxes</a></td>
<td class="nump">$ 5,519<span></span>
</td>
<td class="nump">$ 2,501<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate', window );">Income tax expense at Canadian statutory tax rate</a></td>
<td class="nump">1,476<span></span>
</td>
<td class="nump">669<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInIncomeTaxesAbstract', window );"><strong>Increase (decrease) in income taxes due to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011', window );">Tax-exempt investment income</a></td>
<td class="num">(200)<span></span>
</td>
<td class="num">(242)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfForeignTaxRates', window );">Differences in tax rate on income not subject to tax in Canada</a></td>
<td class="num">(391)<span></span>
</td>
<td class="num">(551)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncomeTaxReconciliationAdjustmentsInRespectOfPriorYears', window );">Adjustments to taxes related to prior years</a></td>
<td class="num">(71)<span></span>
</td>
<td class="num">(182)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectFromChangeInTaxRate', window );">Impact of U.S. Tax Reform</a></td>
<td class="num">(320)<span></span>
</td>
<td class="nump">472<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome', window );">Other differences</a></td>
<td class="nump">138<span></span>
</td>
<td class="nump">73<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="nump">$ 632<span></span>
</td>
<td class="nump">$ 239<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2018-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2018-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that the entity does not separately disclose in the same statement or note. [Refer: Accounting profit; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2018-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2018-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2018-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=5&amp;date=2018-03-01&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectFromChangeInTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to changes in the tax rate. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectFromChangeInTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfForeignTaxRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to foreign tax rates. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfForeignTaxRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to revenues that are exempt from taxation. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The product of the accounting profit multiplied by the applicable tax rate(s). [Refer: Accounting profit; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseIncomeAtApplicableTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncomeTaxReconciliationAdjustmentsInRespectOfPriorYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income tax reconciliation adjustments in respect of prior years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncomeTaxReconciliationAdjustmentsInRespectOfPriorYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncreaseDecreaseInIncomeTaxesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase decrease in income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncreaseDecreaseInIncomeTaxesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</DOCUMENT>
<DOCUMENT>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839801136">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract', window );"><strong>Deferred tax assets and liabilities [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">$ 4,318<span></span>
</td>
<td class="nump">$ 4,569<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="num">(1,814)<span></span>
</td>
<td class="num">(1,281)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets (liabilities)</a></td>
<td class="nump">$ 2,504<span></span>
</td>
<td class="nump">$ 3,288<span></span>
</td>
<td class="nump">$ 3,080<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssetsAndLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872646032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="nump">$ 3,288<span></span>
</td>
<td class="nump">$ 3,080<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="num">(930)<span></span>
</td>
<td class="nump">331<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome', window );">Recognized in Other Comprehensive Income</a></td>
<td class="nump">148<span></span>
</td>
<td class="num">(320)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Recognized in Equity</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation and Other</a></td>
<td class="num">(9)<span></span>
</td>
<td class="nump">195<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="nump">2,504<span></span>
</td>
<td class="nump">3,288<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Loss carry forwards [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="nump">596<span></span>
</td>
<td class="nump">942<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="nump">387<span></span>
</td>
<td class="num">(311)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Recognized in Equity</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation and Other</a></td>
<td class="nump">29<span></span>
</td>
<td class="num">(38)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="nump">1,019<span></span>
</td>
<td class="nump">596<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_ActuarialLiabilitiesMember', window );">Actuarial liabilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="nump">7,878<span></span>
</td>
<td class="nump">9,366<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="num">(2,697)<span></span>
</td>
<td class="num">(1,053)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome', window );">Recognized in Other Comprehensive Income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(17)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Recognized in Equity</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation and Other</a></td>
<td class="nump">282<span></span>
</td>
<td class="num">(418)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="nump">5,466<span></span>
</td>
<td class="nump">7,878<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_PensionsAndPostemploymentBenefitsMember', window );">Pensions and post-employment benefits [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="nump">208<span></span>
</td>
<td class="nump">352<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="nump">27<span></span>
</td>
<td class="num">(87)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome', window );">Recognized in Other Comprehensive Income</a></td>
<td class="nump">7<span></span>
</td>
<td class="num">(54)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation and Other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="nump">242<span></span>
</td>
<td class="nump">208<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember', window );">Tax credits [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="nump">454<span></span>
</td>
<td class="nump">875<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="num">(224)<span></span>
</td>
<td class="num">(369)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation and Other</a></td>
<td class="nump">31<span></span>
</td>
<td class="num">(52)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="nump">261<span></span>
</td>
<td class="nump">454<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_AccruedInterestMember', window );">Accrued interest [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Recognized in Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation and Other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_RealEstate1Member', window );">Real estate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="num">(1,062)<span></span>
</td>
<td class="num">(1,396)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="nump">150<span></span>
</td>
<td class="nump">284<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome', window );">Recognized in Other Comprehensive Income</a></td>
<td class="num">(1)<span></span>
</td>
<td class="num">(9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation and Other</a></td>
<td class="num">(46)<span></span>
</td>
<td class="nump">59<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="num">(959)<span></span>
</td>
<td class="num">(1,062)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_SecuritiesAndOtherInvestmentsMember', window );">Securities and other investments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="num">(3,807)<span></span>
</td>
<td class="num">(6,064)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="nump">1,234<span></span>
</td>
<td class="nump">2,172<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome', window );">Recognized in Other Comprehensive Income</a></td>
<td class="nump">136<span></span>
</td>
<td class="num">(239)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Recognized in Equity</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation and Other</a></td>
<td class="num">(253)<span></span>
</td>
<td class="nump">324<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="num">(2,689)<span></span>
</td>
<td class="num">(3,807)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_SaleOfInvestmentsMember', window );">Sale of investments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="num">(105)<span></span>
</td>
<td class="num">(163)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="nump">18<span></span>
</td>
<td class="nump">58<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="num">(87)<span></span>
</td>
<td class="num">(105)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_GoodwillAndIntangibleAssetsMember', window );">Goodwill and intangible assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="num">(825)<span></span>
</td>
<td class="num">(1,059)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="nump">18<span></span>
</td>
<td class="nump">197<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation and Other</a></td>
<td class="num">(40)<span></span>
</td>
<td class="nump">37<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="num">(847)<span></span>
</td>
<td class="num">(825)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_OtherAssetsAndLiabilitiesMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems', window );"><strong>Reconciliation of changes in deferred tax liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Beginning balance</a></td>
<td class="num">(50)<span></span>
</td>
<td class="nump">210<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Recognized in Income Statement</a></td>
<td class="nump">157<span></span>
</td>
<td class="num">(548)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome', window );">Recognized in Other Comprehensive Income</a></td>
<td class="nump">6<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Recognized in Equity</a></td>
<td class="num">(4)<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation and Other</a></td>
<td class="num">(12)<span></span>
</td>
<td class="nump">287<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Ending balance</a></td>
<td class="nump">$ 97<span></span>
</td>
<td class="num">$ (50)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense or income relating to changes in deferred tax liabilities and deferred tax assets, recognised in profit or loss. [Refer: Deferred tax assets; Deferred tax expense (income); Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax related to items credited (charged) directly to equity. [Refer: Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in deferred tax liability (asset) resulting from the net exchange differences arising when the financial statements are translated from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Deferred tax liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2018-01-01<br> -Paragraph 81<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2018-03-01&amp;anchor=para_81&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax relating to items credited charged directly to other comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DeferredTaxRelatingToItemsCreditedChargedDirectlyToOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reconciliation of changes in deferred tax liability (asset) [line items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_ActuarialLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_ActuarialLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_PensionsAndPostemploymentBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_PensionsAndPostemploymentBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_AccruedInterestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=mfc_AccruedInterestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872301664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill and Intangible Assets - Summary of Carrying Amounts of Goodwill and Intangible Assets (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Beginning balance</a></td>
<td class="nump">$ 5,713<span></span>
</td>
<td class="nump">$ 5,884<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Beginning balance</a></td>
<td class="nump">4,127<span></span>
</td>
<td class="nump">4,223<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalRecognitionGoodwill', window );">Goodwill Additions/ disposals</a></td>
<td class="num">(65)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AdditionsDispositionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Additions/ Disposals</a></td>
<td class="nump">145<span></span>
</td>
<td class="nump">303<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">Effect of changes in foreign exchange rates</a></td>
<td class="nump">216<span></span>
</td>
<td class="num">(171)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Ending balance</a></td>
<td class="nump">5,864<span></span>
</td>
<td class="nump">5,713<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Total goodwill and intangible assets Beginning balance</a></td>
<td class="nump">9,840<span></span>
</td>
<td class="nump">10,107<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Total goodwill and intangible assets Additions/ Disposals</a></td>
<td class="nump">80<span></span>
</td>
<td class="nump">303<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Amortization expense</a></td>
<td class="nump">255<span></span>
</td>
<td class="nump">229<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Effect of changes in foreign exchange rates</a></td>
<td class="nump">432<span></span>
</td>
<td class="num">(341)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of changes in foreign exchange rates - Total intangible assets</a></td>
<td class="nump">216<span></span>
</td>
<td class="num">(170)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Total goodwill and intangible assets Ending balance</a></td>
<td class="nump">10,097<span></span>
</td>
<td class="nump">9,840<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Ending balance</a></td>
<td class="nump">4,233<span></span>
</td>
<td class="nump">4,127<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntityAxis=mfc_DistributionNetworksMember', window );">Distribution networks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Beginning balance</a></td>
<td class="nump">989<span></span>
</td>
<td class="nump">1,093<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AdditionsDispositionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Additions/ Disposals</a></td>
<td class="num">(133)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Amortization expense</a></td>
<td class="nump">48<span></span>
</td>
<td class="nump">47<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of changes in foreign exchange rates - Total intangible assets</a></td>
<td class="nump">60<span></span>
</td>
<td class="num">(57)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Ending balance</a></td>
<td class="nump">868<span></span>
</td>
<td class="nump">989<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntityAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer relationships [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Beginning balance</a></td>
<td class="nump">899<span></span>
</td>
<td class="nump">969<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Amortization expense</a></td>
<td class="nump">55<span></span>
</td>
<td class="nump">56<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of changes in foreign exchange rates - Total intangible assets</a></td>
<td class="nump">16<span></span>
</td>
<td class="num">(14)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Ending balance</a></td>
<td class="nump">860<span></span>
</td>
<td class="nump">899<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntityAxis=ifrs-full_ComputerSoftwareMember', window );">Software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Beginning balance</a></td>
<td class="nump">661<span></span>
</td>
<td class="nump">494<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AdditionsDispositionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Additions/ Disposals</a></td>
<td class="nump">275<span></span>
</td>
<td class="nump">303<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Amortization expense</a></td>
<td class="nump">147<span></span>
</td>
<td class="nump">121<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of changes in foreign exchange rates - Total intangible assets</a></td>
<td class="nump">32<span></span>
</td>
<td class="num">(15)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Ending balance</a></td>
<td class="nump">821<span></span>
</td>
<td class="nump">661<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntityAxis=ifrs-full_OtherIntangibleAssetsMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Beginning balance</a></td>
<td class="nump">70<span></span>
</td>
<td class="nump">77<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Amortization expense</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of changes in foreign exchange rates - Total intangible assets</a></td>
<td class="nump">2<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Ending balance</a></td>
<td class="nump">67<span></span>
</td>
<td class="nump">70<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntityAxis=mfc_IntangibleAssetsWithFiniteUsefulLifeMember', window );">Finite life intangible assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Beginning balance</a></td>
<td class="nump">2,619<span></span>
</td>
<td class="nump">2,633<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AdditionsDispositionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Additions/ Disposals</a></td>
<td class="nump">142<span></span>
</td>
<td class="nump">303<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Amortization expense</a></td>
<td class="nump">255<span></span>
</td>
<td class="nump">229<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of changes in foreign exchange rates - Total intangible assets</a></td>
<td class="nump">110<span></span>
</td>
<td class="num">(88)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Ending balance</a></td>
<td class="nump">2,616<span></span>
</td>
<td class="nump">2,619<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=ifrs-full_BrandNamesMember', window );">Brand [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Beginning balance</a></td>
<td class="nump">753<span></span>
</td>
<td class="nump">805<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of changes in foreign exchange rates - Total intangible assets</a></td>
<td class="nump">66<span></span>
</td>
<td class="num">(52)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Ending balance</a></td>
<td class="nump">819<span></span>
</td>
<td class="nump">753<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mfc_FundManagementContractsAndOtherMember', window );">Fund management contracts and other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Beginning balance</a></td>
<td class="nump">755<span></span>
</td>
<td class="nump">785<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AdditionsDispositionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Additions/ Disposals</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of changes in foreign exchange rates - Total intangible assets</a></td>
<td class="nump">40<span></span>
</td>
<td class="num">(30)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Ending balance</a></td>
<td class="nump">798<span></span>
</td>
<td class="nump">755<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mfc_IntangibleAssetsWithInfiniteUsefulLifeMember', window );">Indefinite life intangible assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Beginning balance</a></td>
<td class="nump">1,508<span></span>
</td>
<td class="nump">1,590<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AdditionsDispositionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Additions/ Disposals</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of changes in foreign exchange rates - Total intangible assets</a></td>
<td class="nump">106<span></span>
</td>
<td class="num">(82)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Total intangible assets Ending balance</a></td>
<td class="nump">$ 1,617<span></span>
</td>
<td class="nump">$ 1,508<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in intangible assets and goodwill resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2018-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2018-03-01&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalRecognitionGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additional goodwill recognised, except goodwill included in a disposal group that, on acquisition, meets the criteria to be classified as held for sale in accordance with IFRS 5. [Refer: Goodwill; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2018-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2018-03-01&amp;anchor=para_B67_d_ii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalRecognitionGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation expense. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2018-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2018-03-01&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2018-01-01<br> -Paragraph 134<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2018-03-01&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2018-01-01<br> -Paragraph 135<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2018-03-01&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in goodwill resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2018-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2018-03-01&amp;anchor=para_B67_d_vi&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets and goodwill resulting from the net exchange differences arising when the financial statements are translated from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2018-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2018-03-01&amp;anchor=para_118_e_vii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets other than goodwill resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2018-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2018-03-01&amp;anchor=para_118_e_vii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2018-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2018-03-01&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additions, dispositions other than through business combinations, intangible assets other than goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill and Intangible Assets - Summary of Carrying Amounts of Goodwill and Intangible Assets (Parenthetical) (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
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<td class="nump">65<span></span>
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<td class="nump">868<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntityAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer relationships [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets ending balance</a></td>
<td class="nump">860<span></span>
</td>
<td class="nump">899<span></span>
</td>
<td class="nump">969<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntityAxis=ifrs-full_ComputerSoftwareMember', window );">Software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets ending balance</a></td>
<td class="nump">821<span></span>
</td>
<td class="nump">661<span></span>
</td>
<td class="nump">494<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntityAxis=ifrs-full_OtherIntangibleAssetsMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets ending balance</a></td>
<td class="nump">67<span></span>
</td>
<td class="nump">70<span></span>
</td>
<td class="nump">77<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mfc_FundManagementContractsAndOtherMember', window );">Fund management contracts and other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets ending balance</a></td>
<td class="nump">798<span></span>
</td>
<td class="nump">755<span></span>
</td>
<td class="nump">$ 785<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_USWealthAndAssetManagementMember', window );">US wealth and asset management [member] | Fund management contracts and other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets ending balance</a></td>
<td class="nump">400<span></span>
</td>
<td class="nump">367<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_CanadaWealthAndAssetManagementMember', window );">Canada wealth and asset management [member] | Fund management contracts and other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets ending balance</a></td>
<td class="nump">273<span></span>
</td>
<td class="nump">273<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">U.S. [member] | Distribution networks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairment</a></td>
<td class="nump">27<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=srt_AsiaMember', window );">Asia [member] | Distribution networks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairment</a></td>
<td class="nump">13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross Carrying Value [Member] | Distribution networks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntity', window );">Gross carrying amount of finite life intangible assets</a></td>
<td class="nump">1,331<span></span>
</td>
<td class="nump">1,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross Carrying Value [Member] | Customer relationships [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntity', window );">Gross carrying amount of finite life intangible assets</a></td>
<td class="nump">1,145<span></span>
</td>
<td class="nump">1,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross Carrying Value [Member] | Software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntity', window );">Gross carrying amount of finite life intangible assets</a></td>
<td class="nump">2,110<span></span>
</td>
<td class="nump">1,841<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross Carrying Value [Member] | Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsMaterialToEntity', window );">Gross carrying amount of finite life intangible assets</a></td>
<td class="nump">$ 133<span></span>
</td>
<td class="nump">$ 126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in goodwill due to classification as held for sale. [Refer: Goodwill; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2018-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2018-03-01&amp;anchor=para_B67_d_iv&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DecreaseThroughClassifiedAsHeldForSaleGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in intangible assets other than goodwill resulting from disposals. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2018-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2018-03-01&amp;anchor=para_118_e_ii&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for intangible assets other than goodwill. [Refer: Impairment loss recognised in profit or loss; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2018-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2018-03-01&amp;anchor=para_118_e_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill</td>
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<tr>
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<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsMaterialToEntity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets that are material to the entity&#8217;s financial statements. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2018-01-01<br> -Paragraph 122<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2018-03-01&amp;anchor=para_122_b&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsMaterialToEntity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2018-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2018-03-01&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsMaterialToEntityAxis=mfc_DistributionNetworksMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsMaterialToEntityAxis=mfc_DistributionNetworksMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsMaterialToEntityAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsMaterialToEntityAxis=ifrs-full_ComputerSoftwareMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsMaterialToEntityAxis=ifrs-full_OtherIntangibleAssetsMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_USWealthAndAssetManagementMember</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_CanadaWealthAndAssetManagementMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=srt_AsiaMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill and Intangible Assets - Additional Information (Detail)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
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<tr>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>CAD ($) </div>
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<div>Dec. 31, 2017 </div>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PriceToEarningsMultiples', window );">Price-to-earnings multiples</a></td>
<td class="nump">9.0<span></span>
</td>
<td class="nump">10.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="num">(5.00%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections', window );">After-tax discount rate applied to cash flow projections</a></td>
<td class="nump">7.50%<span></span>
</td>
<td class="nump">9.20%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DiscountRateAppliedToCashFlowProjectionsPreTaxBasis', window );">Pre-tax discount rate applied to cash flow projections</a></td>
<td class="nump">10.20%<span></span>
</td>
<td class="nump">11.30%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PriceToEarningsMultiples', window );">Price-to-earnings multiples</a></td>
<td class="nump">11.7<span></span>
</td>
<td class="nump">14.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections</a></td>
<td class="nump">17.00%<span></span>
</td>
<td class="nump">17.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections', window );">After-tax discount rate applied to cash flow projections</a></td>
<td class="nump">14.20%<span></span>
</td>
<td class="nump">14.20%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DiscountRateAppliedToCashFlowProjectionsPreTaxBasis', window );">Pre-tax discount rate applied to cash flow projections</a></td>
<td class="nump">20.40%<span></span>
</td>
<td class="nump">20.40%<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The discount rate applied to cash flow projections for a cash-generating unit (group of units). [Refer: Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2018-01-01<br> -Paragraph 134<br> -Subparagraph d<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2018-03-01&amp;anchor=para_134_d_v&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2018-01-01<br> -Paragraph 134<br> -Subparagraph e<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2018-03-01&amp;anchor=para_134_e_v&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The growth rate used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts for a cash-generating unit (group of units). [Refer: Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2018-01-01<br> -Paragraph 134<br> -Subparagraph d<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2018-03-01&amp;anchor=para_134_d_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2018-01-01<br> -Paragraph 134<br> -Subparagraph e<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2018-03-01&amp;anchor=para_134_e_iv&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfIntangibleAssetsLineItems</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for goodwill. [Refer: Impairment loss recognised in profit or loss; Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2018-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2018-03-01&amp;anchor=para_B67_d_v&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The pre tax discount rate applied to cash flow projections for a cash-generating unit (group of units).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DiscountRateAppliedToCashFlowProjectionsPreTaxBasis</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price to earnings multiples.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The tax rate applied to cash flow projections for a cash-generating unit (group of units).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6882013744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill and Intangible Assets - Summary of Impairment Testing of Goodwill (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in goodwill [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Beginning balance</a></td>
<td class="nump">$ 5,713<span></span>
</td>
<td class="nump">$ 5,884<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalRecognitionGoodwill', window );">Goodwill Additions/ disposals</a></td>
<td class="num">(65)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">Effect of changes in foreign exchange rates</a></td>
<td class="nump">216<span></span>
</td>
<td class="num">(171)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Ending balance</a></td>
<td class="nump">5,864<span></span>
</td>
<td class="nump">5,713<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_AsiaExcludingJapanMember', window );">Asia Insurance, excluding Japan [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in goodwill [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Beginning balance</a></td>
<td class="nump">154<span></span>
</td>
<td class="nump">160<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">Effect of changes in foreign exchange rates</a></td>
<td class="nump">11<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Ending balance</a></td>
<td class="nump">165<span></span>
</td>
<td class="nump">154<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_JapanInsuranceMember', window );">Japan insurance [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in goodwill [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Beginning balance</a></td>
<td class="nump">391<span></span>
</td>
<td class="nump">403<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">Effect of changes in foreign exchange rates</a></td>
<td class="nump">44<span></span>
</td>
<td class="num">(12)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Ending balance</a></td>
<td class="nump">435<span></span>
</td>
<td class="nump">391<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_CanadianInsuranceMember', window );">Canadian insurance [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in goodwill [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Beginning balance</a></td>
<td class="nump">1,954<span></span>
</td>
<td class="nump">1,960<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">Effect of changes in foreign exchange rates</a></td>
<td class="nump">8<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Ending balance</a></td>
<td class="nump">1,962<span></span>
</td>
<td class="nump">1,954<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_UsInsuranceMember', window );">US insurance [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in goodwill [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Beginning balance</a></td>
<td class="nump">400<span></span>
</td>
<td class="nump">428<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalRecognitionGoodwill', window );">Goodwill Additions/ disposals</a></td>
<td class="num">(65)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">Effect of changes in foreign exchange rates</a></td>
<td class="nump">32<span></span>
</td>
<td class="num">(28)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Ending balance</a></td>
<td class="nump">367<span></span>
</td>
<td class="nump">400<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_AsiaWealthAndAssetManagementMember', window );">Asia wealth and asset management [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in goodwill [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Beginning balance</a></td>
<td class="nump">180<span></span>
</td>
<td class="nump">194<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">Effect of changes in foreign exchange rates</a></td>
<td class="nump">16<span></span>
</td>
<td class="num">(14)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Ending balance</a></td>
<td class="nump">196<span></span>
</td>
<td class="nump">180<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_CanadaWealthAndAssetManagementMember', window );">Canada wealth and asset management [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in goodwill [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Beginning balance</a></td>
<td class="nump">1,436<span></span>
</td>
<td class="nump">1,436<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Ending balance</a></td>
<td class="nump">1,436<span></span>
</td>
<td class="nump">1,436<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_USWealthAndAssetManagementMember', window );">US wealth and asset management [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillLineItems', window );"><strong>Disclosure of reconciliation of changes in goodwill [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Beginning balance</a></td>
<td class="nump">1,198<span></span>
</td>
<td class="nump">1,303<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">Effect of changes in foreign exchange rates</a></td>
<td class="nump">105<span></span>
</td>
<td class="num">(105)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill Ending balance</a></td>
<td class="nump">$ 1,303<span></span>
</td>
<td class="nump">$ 1,198<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalRecognitionGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additional goodwill recognised, except goodwill included in a disposal group that, on acquisition, meets the criteria to be classified as held for sale in accordance with IFRS 5. [Refer: Goodwill; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2018-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2018-03-01&amp;anchor=para_B67_d_ii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalRecognitionGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2018-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2018-03-01&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2018-01-01<br> -Paragraph 134<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2018-03-01&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2018-01-01<br> -Paragraph 135<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2018-03-01&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in goodwill resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2018-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2018-03-01&amp;anchor=para_B67_d_vi&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_AsiaExcludingJapanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_AsiaExcludingJapanMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_JapanInsuranceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_JapanInsuranceMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_CanadianInsuranceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_UsInsuranceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_UsInsuranceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_AsiaWealthAndAssetManagementMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_CanadaWealthAndAssetManagementMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=mfc_USWealthAndAssetManagementMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R88.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834466768">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Insurance Contract Liabilities and Reinsurance Assets - Summary of Components of Gross and Net Insurance Contract Liabilities (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsAbstract', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GrossInsuranceContractLiabilities', window );">Gross insurance contract liabilities</a></td>
<td class="nump">$ 313,737<span></span>
</td>
<td class="nump">$ 291,767<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GrossBenefitsPayableAndProvisionForUnreportedClaims', window );">Gross benefits payable and provision for unreported claims</a></td>
<td class="nump">4,398<span></span>
</td>
<td class="nump">3,376<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_GrossPolicyholderAmountsOnDeposit', window );">Gross policyholder amounts on deposit</a></td>
<td class="nump">10,519<span></span>
</td>
<td class="nump">9,462<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Gross insurance contract liabilities</a></td>
<td class="nump">328,654<span></span>
</td>
<td class="nump">304,605<span></span>
</td>
<td class="nump">$ 297,505<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Reinsurance assets</a></td>
<td class="num">(42,925)<span></span>
</td>
<td class="num">(30,359)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">$ 285,729<span></span>
</td>
<td class="nump">$ 274,246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsUnderReinsuranceCeded">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets under reinsurance contracts in which the entity is the policyholder.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG20<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG20_c&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-02&amp;anchor=para_55&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsUnderReinsuranceCeded</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG20_a&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG37_a&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-02&amp;anchor=para_55&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of insurance contract liabilities and reinsurance assets abstract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_GrossBenefitsPayableAndProvisionForUnreportedClaims">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of gross benefits payable and provision related to insurance contracts (amounts currently due to and from agents, brokers and policyholders related to insurance contracts).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_GrossBenefitsPayableAndProvisionForUnreportedClaims</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_GrossInsuranceContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of gross liabilities under insurance contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_GrossInsuranceContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_GrossPolicyholderAmountsOnDeposit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of gross policyholder amounts on deposit reported by policyholders as the result of the occurrence of insured events. [Refer: Insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_GrossPolicyholderAmountsOnDeposit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_NetInsuranceContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of insurance contract liabilities net of reinsurance assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_NetInsuranceContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>114
<FILENAME>R89.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855919920">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Insurance Contract Liabilities and Reinsurance Assets - Summary of Components of Gross and Net Insurance Contract Liabilities (Parenthetical) (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsAbstract', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReinsuranceContractsHeldThatAreLiabilities', window );">Reinsurance assets for investment contract liabilities</a></td>
<td class="nump">$ 128<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReinsuranceContractsHeldThatAreLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of reinsurance contracts held that are liabilities. [Refer: Liabilities; Reinsurance contracts held [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2018-01-01<br> -Paragraph 78<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=17&amp;date=2018-03-01&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 54<br> -Subparagraph ma<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_54_ma&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReinsuranceContractsHeldThatAreLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of insurance contract liabilities and reinsurance assets abstract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>115
<FILENAME>R90.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6837857728">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Insurance Contract Liabilities and Reinsurance Assets - Summary of Composition of Insurance Contract Liabilities and Reinsurance Assets by Line of Business and Reporting Segment (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">$ 285,729<span></span>
</td>
<td class="nump">$ 274,246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Total reinsurance ceded</a></td>
<td class="num">(42,925)<span></span>
</td>
<td class="num">(30,359)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="nump">328,654<span></span>
</td>
<td class="nump">304,605<span></span>
</td>
<td class="nump">$ 297,505<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=mfc_OtherInsuranceContractLiabilitiesMember', window );">Other insurance contract liabilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="nump">12,968<span></span>
</td>
<td class="nump">11,155<span></span>
</td>
<td class="nump">$ 10,815<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">285,729<span></span>
</td>
<td class="nump">274,246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Total reinsurance ceded</a></td>
<td class="nump">42,925<span></span>
</td>
<td class="nump">30,359<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="nump">328,654<span></span>
</td>
<td class="nump">304,605<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Corporate and other [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="num">(168)<span></span>
</td>
<td class="num">(46)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Total reinsurance ceded</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">172<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="num">(68)<span></span>
</td>
<td class="nump">126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Asia [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">76,127<span></span>
</td>
<td class="nump">62,243<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Total reinsurance ceded</a></td>
<td class="nump">1,332<span></span>
</td>
<td class="nump">911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="nump">77,459<span></span>
</td>
<td class="nump">63,154<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Canada [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">76,628<span></span>
</td>
<td class="nump">76,198<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Total reinsurance ceded</a></td>
<td class="num">(202)<span></span>
</td>
<td class="num">(676)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="nump">76,426<span></span>
</td>
<td class="nump">75,522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | U.S. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">133,142<span></span>
</td>
<td class="nump">135,851<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Total reinsurance ceded</a></td>
<td class="nump">41,695<span></span>
</td>
<td class="nump">29,952<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="nump">174,837<span></span>
</td>
<td class="nump">165,803<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Individual insurance participating [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">57,886<span></span>
</td>
<td class="nump">52,438<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Total reinsurance ceded</a></td>
<td class="nump">11,596<span></span>
</td>
<td class="nump">11,492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="nump">69,482<span></span>
</td>
<td class="nump">63,930<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Individual insurance participating [Member] | Asia [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">38,470<span></span>
</td>
<td class="nump">32,737<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Individual insurance participating [Member] | Canada [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">10,743<span></span>
</td>
<td class="nump">11,132<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Individual insurance participating [Member] | U.S. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">8,673<span></span>
</td>
<td class="nump">8,569<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Individual insurance non-participating [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">127,035<span></span>
</td>
<td class="nump">113,880<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Total reinsurance ceded</a></td>
<td class="nump">12,303<span></span>
</td>
<td class="nump">11,238<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="nump">139,338<span></span>
</td>
<td class="nump">125,118<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Individual insurance non-participating [Member] | Corporate and other [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="num">(601)<span></span>
</td>
<td class="num">(515)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Individual insurance non-participating [Member] | Asia [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">29,547<span></span>
</td>
<td class="nump">22,705<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Individual insurance non-participating [Member] | Canada [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">34,677<span></span>
</td>
<td class="nump">34,091<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Individual insurance non-participating [Member] | U.S. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">63,412<span></span>
</td>
<td class="nump">57,599<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Annuities and pensions [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">39,572<span></span>
</td>
<td class="nump">49,716<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Total reinsurance ceded</a></td>
<td class="nump">17,927<span></span>
</td>
<td class="nump">6,539<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="nump">57,499<span></span>
</td>
<td class="nump">56,255<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Annuities and pensions [Member] | Corporate and other [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">46<span></span>
</td>
<td class="nump">48<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Annuities and pensions [Member] | Asia [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">5,062<span></span>
</td>
<td class="nump">4,366<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Annuities and pensions [Member] | Canada [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">18,339<span></span>
</td>
<td class="nump">19,141<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Annuities and pensions [Member] | U.S. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">16,125<span></span>
</td>
<td class="nump">26,161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Other insurance contract liabilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">61,236<span></span>
</td>
<td class="nump">58,212<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsUnderReinsuranceCeded', window );">Total reinsurance ceded</a></td>
<td class="nump">1,099<span></span>
</td>
<td class="nump">1,090<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total, gross of reinsurance ceded</a></td>
<td class="nump">62,335<span></span>
</td>
<td class="nump">59,302<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Other insurance contract liabilities [Member] | Corporate and other [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">387<span></span>
</td>
<td class="nump">421<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Other insurance contract liabilities [Member] | Asia [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">3,048<span></span>
</td>
<td class="nump">2,435<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Other insurance contract liabilities [Member] | Canada [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">12,869<span></span>
</td>
<td class="nump">11,834<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember', window );">Gross insurance contract liabilities [Member] | Other insurance contract liabilities [Member] | U.S. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_NetInsuranceContractLiabilities', window );">Net insurance contract liabilities</a></td>
<td class="nump">$ 44,932<span></span>
</td>
<td class="nump">$ 43,522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsUnderReinsuranceCeded">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets under reinsurance contracts in which the entity is the policyholder.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG20<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG20_c&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-02&amp;anchor=para_55&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsUnderReinsuranceCeded</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG20_a&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG37_a&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-02&amp;anchor=para_55&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of insurance contract liabilities and reinsurance assets line items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_NetInsuranceContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of insurance contract liabilities net of reinsurance assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_NetInsuranceContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=mfc_OtherInsuranceContractLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=mfc_OtherInsuranceContractLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsArisingFromInsuranceContractsAxis=ifrs-full_GrossAmountArisingFromInsuranceContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_UnallocatedAmountsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_UnallocatedAmountsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=srt_AsiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=srt_AsiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CA</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=mfc_IndividualInsuranceParticipatingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=mfc_IndividualInsuranceParticipatingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=mfc_IndividualInsuranceNonparticipatingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=mfc_AnnuitiesAndPensionsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R91.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6881953632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance Contract Liabilities and Reinsurance Assets - Additional Information (Detail) - CAD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Feb. 07, 2019</div></th>
<th class="th"><div>Oct. 31, 2018</div></th>
<th class="th"><div>Jul. 01, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfAssetsBackingNetInsuranceContractLiabilitiesExcludingReinsuranceAssets', window );">Fair value of assets backing net insurance contract liabilities excluding reinsurance assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 278,521<span></span>
</td>
<td class="nump">$ 287,326<span></span>
</td>
<td class="nump">$ 278,521<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_FairValueOfAssetsBackingCapitalAndOtherLiabilities', window );">Fair value of assets backing capital and other liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">456,278<span></span>
</td>
<td class="nump">465,497<span></span>
</td>
<td class="nump">456,278<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance', window );">Change in insurance and investment contract liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(174)<span></span>
</td>
<td class="nump">277<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(51)<span></span>
</td>
<td class="num">(35)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholders', window );">Change in net income attributed to shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,800<span></span>
</td>
<td class="num">(62)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CoinsuranceTransactionAfterTaxLoss', window );">Coinsurance, after tax loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 74<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CededPremiums', window );">Ceded premiums</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Increase of reinsurance assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,733)<span></span>
</td>
<td class="nump">2,269<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CoinsuranceAgreementsPercentage', window );">Quota share coinsurance agreements, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InsuranceContractsAxis=mfc_JacksonNationalLifeInsuranceCompanyMember', window );">Jackson National Life Insurance Company [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CededPremiums', window );">Ceded premiums</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Increase of reinsurance assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CoinsuranceAgreementsPercentage', window );">Quota share coinsurance agreements, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_CoinsuranceTransactionAfterTaxGain', window );">Coinsurance, after tax gain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 142,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_MortalityAndMorbidityUpdatesMember', window );">Mortality and morbidity updates [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance', window );">Change in insurance and investment contract liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">319<span></span>
</td>
<td class="num">(254)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(360)<span></span>
</td>
<td class="nump">299<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholders', window );">Change in net income attributed to shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(511)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_MortalityAndMorbidityUpdatesMember', window );">Mortality and morbidity updates [member] | U.S. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(384)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_MortalityAndMorbidityUpdatesMember', window );">Mortality and morbidity updates [member] | Canada [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">264<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_MortalityAndMorbidityUpdatesMember', window );">Mortality and morbidity updates [member] | Canada [member] | Retail Insurance Business [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">222<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_MortalityAndMorbidityUpdatesMember', window );">Mortality and morbidity updates [member] | Asia [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">264<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_MortalityAndMorbidityUpdatesMember', window );">Mortality and morbidity updates [member] | Japan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">197<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_LapsesAndPolicyholderBehaviourMember', window );">Lapses and policyholder behavior [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance', window );">Change in insurance and investment contract liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">287<span></span>
</td>
<td class="nump">1,019<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(226)<span></span>
</td>
<td class="num">(783)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholders', window );">Change in net income attributed to shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(287)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_LapsesAndPolicyholderBehaviourMember', window );">Lapses and policyholder behavior [member] | U.S. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(252)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_LapsesAndPolicyholderBehaviourMember', window );">Lapses and policyholder behavior [member] | Canada [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(315)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_LapsesAndPolicyholderBehaviourMember', window );">Lapses and policyholder behavior [member] | Canada [member] | Segregated funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(242)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_LapsesAndPolicyholderBehaviourMember', window );">Lapses and policyholder behavior [member] | Japan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(226)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_InvestmentReturnAssumptionsMember', window );">Investment return assumptions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance', window );">Change in insurance and investment contract liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(96)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">143<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholders', window );">Change in net income attributed to shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">146<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_InvestmentReturnAssumptionsMember', window );">Investment return assumptions [member] | Bond default rates [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">401<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_InvestmentReturnAssumptionsMember', window );">Investment return assumptions [member] | ALDA and Public Equity Investment Return Assumptions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(210)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_InvestmentReturnAssumptionsMember', window );">Investment return assumptions [member] | Other refinements [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(48)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_OtherUpdatesMember', window );">Other updates [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance', window );">Change in insurance and investment contract liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(684)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">392<span></span>
</td>
<td class="nump">449<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholders', window );">Change in net income attributed to shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 590<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_OtherUpdatesMember', window );">Other updates [member] | ALDA and Public Equity Investment Return Assumptions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance', window );">Change in insurance and investment contract liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,296<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(892)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_OtherUpdatesMember', window );">Other updates [member] | Other refinements [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance', window );">Change in insurance and investment contract liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(220)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">301<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_OtherUpdatesMember', window );">Other updates [member] | Corporate Spread Assumptions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance', window );">Change in insurance and investment contract liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(515)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">344<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_OtherUpdatesMember', window );">Other updates [member] | Refinements To Liability and Tax Cash Flows [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance', window );">Change in insurance and investment contract liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,049)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">696<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=mfc_OtherUpdatesMember', window );">Other updates [member] | U.S. [member] | Refinements To Liability and Tax Cash Flows [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax', window );">Change in net income attributed to shareholders (post-tax)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">696<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=mfc_ScenarioForecast1Member', window );">Scenario Forecast [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossOnBuyingReinsurance', window );">Reinsurance transaction, after-tax gain</a></td>
<td class="nump">$ 80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided', window );">Percentage provision for adverse deviation assumptions not specifically provided</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided', window );">Percentage provision for adverse deviation assumptions not specifically provided</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mfc_MLIAndJohnHancockLifeInsuranceCompanyMember', window );">MLI and John Hancock Life Insurance Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems', window );"><strong>Disclosure of insurance contract liabilities and reinsurance assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mfc_AssetsAndInsuranceContractLiabilitiesRelatedToClosedBlocksParticipatingPolicies', window );">Assets and insurance contract liabilities related to closed blocks participating policies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,135<span></span>
</td>
<td class="nump">$ 28,790<span></span>
</td>
<td class="nump">$ 28,135<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesRecognisedInProfitOrLossOnBuyingReinsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in profit or loss on the entity's purchase of reinsurance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_b_i&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesRecognisedInProfitOrLossOnBuyingReinsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in insurance liabilities, net of reinsurance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2018-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2018-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInInsuranceLiabilitiesNetOfReinsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in reinsurance assets. [Refer: Reinsurance assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph IG37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_IG37&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2018-03-16<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2018-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2018-03-02&amp;anchor=para_37_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2018-03-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInReinsuranceAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_AssetsAndInsuranceContractLiabilitiesRelatedToClosedBlocksParticipatingPolicies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Assets and insurance contract liabilities related to closed blocks participating policies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_AssetsAndInsuranceContractLiabilitiesRelatedToClosedBlocksParticipatingPolicies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_CededPremiums">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ceded premiums.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_CededPremiums</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_CoinsuranceAgreementsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Coinsurance agreements percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_CoinsuranceAgreementsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_CoinsuranceTransactionAfterTaxGain">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Coinsurance transaction after tax gain.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_CoinsuranceTransactionAfterTaxGain</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_CoinsuranceTransactionAfterTaxLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Coinsurance transaction after tax loss.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_CoinsuranceTransactionAfterTaxLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of insurance contract liabilities and reinsurance assets line items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_DisclosureOfInsuranceContractLiabilitiesAndReinsuranceAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_FairValueOfAssetsBackingCapitalAndOtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of assets backing capital and other liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_FairValueOfAssetsBackingCapitalAndOtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_FairValueOfAssetsBackingNetInsuranceContractLiabilitiesExcludingReinsuranceAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of assets backing net insurance contract liabilities excluding reinsurance assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_FairValueOfAssetsBackingNetInsuranceContractLiabilitiesExcludingReinsuranceAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) in net income attributed to shareholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncreaseDecreaseInNetIncomeAttributedToShareholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) in net income attributed to shareholders after tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_IncreaseDecreaseInNetIncomeAttributedToShareholdersAfterTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage provision for adverse deviation assumptions not specifically provided.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_PercentageProvisionForAdverseDeviationAssumptionsNotSpecificallyProvided</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mfc_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InsuranceContractsAxis=mfc_JacksonNationalLifeInsuranceCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InsuranceContractsAxis=mfc_JacksonNationalLifeInsuranceCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionsAxis=mfc_MortalityAndMorbidityUpdatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=mfc_MortalityAndMorbidityUpdatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_CA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSectorAxis=mfc_RetailInsuranceBusinessMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSectorAxis=mfc_RetailInsuranceBusinessMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=srt_AsiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=srt_AsiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_JP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_JP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionsAxis=mfc_LapsesAndPolicyholderBehaviourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=mfc_LapsesAndPolicyholderBehaviourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_SegregatedFundsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=mfc_SegregatedFundsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionsAxis=mfc_InvestmentReturnAssumptionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=mfc_InvestmentReturnAssumptionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ActuarialAssumptionsAdditionalInformationAxis=mfc_BondDefaultRatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ActuarialAssumptionsAdditionalInformationAxis=mfc_BondDefaultRatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ActuarialAssumptionsAdditionalInformationAxis=mfc_ALDAAndPublicEquityInvestmentReturnAssumptionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ActuarialAssumptionsAdditionalInformationAxis=mfc_ALDAAndPublicEquityInvestmentReturnAssumptionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mfc_ActuarialAssumptionsAdditionalInformationAxis=mfc_OtherRefinementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mfc_ActuarialAssumptionsAdditionalInformationAxis=mfc_OtherRefinementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionsAxis=mfc_OtherUpdatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border